IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



                                IXIS 2006-HE3                 DATA
                            --------------------         --------------
COLLATERAL CHARACTERISTICS  POOL BALANCE            $    834,934,301.16
                            # OF LOANS              #              4207
                            AVG PRIN BALANCE        $        198,463.11
                            WAC                     %             8.458
                            WA NET RATE             %             7.938
                            WAM                     #               351
                            SEASONING               #                 3
                            SECOND LIENS            %              3.49
                            WA CLTV                 %             80.13
                            WA FICO                 #               626
                            PREPAY PENALTIES        %             74.01

ARM CHARACTERISTICS         WAC (ARMS ONLY)         %             8.358
                            WAM (ARMS ONLY)         #               357
                            WA MARGIN               %             6.361
                            WA INITIAL CAP          %             2.501
                            WA PERIODIC CAP         %             1.347
                            WA CAP                  %             6.713
                            WA MONTHS TO ROLL       #                23

LOAN TYPE                   FIXED                   %             13.20
                            BALLOONS                %             35.54
                            2/28 ARMS               %             68.72
                            3/27 ARMS               %             17.44
                            OTHER HYBRID ARMS       %              0.64

INDEX                       1-MONTH LIBOR           %              0.00
                            6-MONTH LIBOR           %             86.80
                            OTHER INDEX             %             13.20

LOAN PURPOSE                PURCHASE                %             42.77
                            CASH-OUT REFI           %             52.45
                            RATE-TERM REFI          %              4.78
                            DEBT CONSOLIDATION      %              0.00

OCCUPANCY STATUS            OWNER                   %             92.54
                            SECOND HOME             %              1.52
                            INVESTOR                %              5.95

PROPERTY TYPE               SINGLE FAMILY           %             78.06
                            2-4 FAMILY              %              9.35
                            PUD                     %              6.36
                            MH                      %              0.00
                            CONDO                   %              6.23

DOC TYPE                    FULL DOC                %             41.02
                            STATED DOC              %             54.68
                            LIMITED DOC             %              4.31
                            NO DOC                  %              0.00

MI DATA                     MI FLAG                Y/N
                            % OF POOL COVERED       %
                            EFFECTIVE LTV           %

FICO DISTRIBUTION           FICO <460               %              0.00
                            FICO 460-479            %              0.00
                            FICO 480-499            %              0.00
                            FICO 500-519            %              4.40
                            FICO 520-539            %              4.95
                            FICO 540-559            %              5.52
                            FICO 560-579            %              6.25
                            FICO 580-599            %              8.60
                            FICO 600-619            %             13.28
                            FICO 620-639            %             16.60
                            FICO 640-659            %             13.64
                            FICO 660-679            %              9.76
                            FICO 680-699            %              6.86
                            FICO 700-719            %              3.96
                            FICO 720-739            %              2.50
                            FICO 740-759            %              1.76
                            FICO >760               %              1.92

LTV DISTRIBUTION            LTV <20                 %              0.07
                            LTV 20.01-30            %              0.22
                            LTV 30.01-40            %              0.54
                            LTV 40.01-50            %              1.63
                            LTV 50.01-60            %              2.59
                            LTV 60.01-70            %              7.26
                            LTV 70.01-80            %             56.13
                            LTV 80.01-90            %             22.27
                            LTV 90.01-100           %              9.29
                            LTV >100                %
                                                              DATA        DATA
                                                         --------------  -----
LOAN BALANCE DISTRIBUTION   $ 0-25,000            # & %              31   0.08
                            $ 25,001-50,000       # & %             217   1.03
                            $ 50,001-75,000       # & %             368   2.80
                            $ 75,001-100,000      # & %             411   4.32
                            $ 100,001-150,000     # & %             847  12.67
                            $ 150,001-200,000     # & %             697  14.60
                            $ 200,001-250,000     # & %             520  13.96
                            $ 250,001-300,000     # & %             346  11.37
                            $ 300,001-350,000     # & %             240   9.30
                            $ 350,001-400,000     # & %             164   7.38
                            $ 400,001-450,000     # & %             122   6.20
                            $ 450,001-500,000     # & %              97   5.56
                            $ 500,001-550,000     # & %              48   3.01
                            $ 550,001-600,000     # & %              41   2.83
                            $ 600,001-650,000     # & %              20   1.50
                            $ 650,001-700,000     # & %              14   1.13
                            $ 700,001-750,000     # & %              14   1.23
                            $ 750,001-800,000     # & %               5   0.46
                            $ 800,001-850,000     # & %               1   0.10
                            $ 850,001-900,000     # & %               1   0.10
                            $ 900,001-950,000     # & %               0   0.00
                            $ 950,001-1,000,000   # & %               3   0.36
                            > $ 1,000,001         # & %               0   0.00

GEOGRAPHIC DISTRIBUTION     ALABAMA                 %              0.18
                            ALASKA                  %              0.02
                            ARIZONA                 %              3.83
                            ARKANSAS                %              0.18
                            CALIFORNIA              %             32.46
                            COLORADO                %              0.96
                            CONNECTICUT             %              1.78
                            DELAWARE                %              0.21
                            DISTRICT OF COLUMBIA    %              0.24
                            FLORIDA                 %             14.27
                            GEORGIA                 %              1.60
                            HAWAII                  %              1.36
                            IDAHO                   %              0.40
                            ILLINOIS                %              6.86
                            INDIANA                 %              0.52
                            IOWA                    %              0.17
                            KANSAS                  %              0.26
                            KENTUCKY                %              0.11
                            LOUISIANA               %              0.30
                            MAINE                   %              0.19
                            MARYLAND                %              3.08
                            MASSACHUSETTS           %              2.47
                            MICHIGAN                %              1.61
                            MINNESOTA               %              0.47
                            MISSISSIPPI             %              0.06
                            MISSOURI                %              0.90
                            MONTANA                 %              0.04
                            NEBRASKA                %              0.04
                            NEVADA                  %              2.38
                            NEW HAMPSHIRE           %              0.14
                            NEW JERSEY              %              2.48
                            NEW MEXICO              %              0.32
                            NEW YORK                %              5.00
                            NORTH CAROLINA          %              0.57
                            NORTH DAKOTA            %              0.05
                            OHIO                    %              0.59
                            OKLAHOMA                %              0.14
                            OREGON                  %              1.00
                            PENNSYLVANIA            %              1.84
                            RHODE ISLAND            %              1.82
                            SOUTH CAROLINA          %              0.08
                            SOUTH DAKOTA            %              0.01
                            TENNESSEE               %              0.86
                            TEXAS                   %              3.19
                            UTAH                    %              0.35
                            VERMONT                 %              0.02
                            VIRGINIA                %              2.10
                            WASHINGTON              %              1.95
                            WISCONSIN               %              0.47
                            WYOMING                 %              0.04

DTI DISTRIBUTION            DTI <10.00              %              0.74
                            DTI 10.00-19.99         %              1.31
                            DTI 20.00-29.99         %              5.71
                            DTI 30.00-39.99         %             19.13
                            DTI 40.00-49.99         %             63.26
                            DTI 50.00-59.99         %              9.85
                            DTI 60.00-69.99         %              0.00

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.





                                                % OF
        BALANCE            # OF LOANS   WAC   TOTAL POOL  WA FICO  WA CLTV  OWNER OCC %  CASHOUT REFI%  FULL DOC%
-------------------------  ----------  -----  ----------  -------  -------  -----------  -------------  ---------

600,000.01 - 650,000.00         20     8.355     1.50%      643     83.73      95.09          40.11       25.18
650,000.01 - 700,000.00         14     7.845     1.13%      667     78.24      85.36          50.11       42.93
700,000.01 - 750,000.00         14     8.382     1.23%      637     82.14      78.19          78.67       36.15
750,000.01 - 800,000.00          5     8.695     0.46%      694     84.32      80.11          40.06        0.00
800,000.01 - 850,000.00          1     8.875     0.10%      620     78.70       0.00           0.00      100.00
850,000.01 - 900,000.00          1     7.990     0.10%      671     90.00     100.00         100.00      100.00
900,000.01 - 950,000.00          0     0.000     0.00%        0      0.00       0.00           0.00        0.00
950,000.01 - 1,000,000.00        3     7.537     0.36%      653     78.54     100.00          66.79       66.41
1,000,000.01 >=                  0     0.000     0.00%        0      0.00       0.00           0.00        0.00


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.

Please populate appropriate loan characteristics for each loan bucket.



PERCENTAGE BY RANGE

                                LOANS WITHOUT MI
                                      FICOS

CLTVS



         *450   451-500   501-550   551-600   601-650   651-700   701-750   **750
---------------------------------------------------------------------------------

  <20    0.00%   0.00%     0.03%     0.02%      0.00%     0.02%    0.00%    0.00%
 20-30   0.00%   0.00%     0.07%     0.01%      0.09%     0.05%    0.00%    0.00%
 30-40   0.00%   0.01%     0.09%     0.13%      0.25%     0.02%    0.04%    0.00%
 40-50   0.00%   0.00%     0.42%     0.43%      0.49%     0.22%    0.05%    0.02%
 50-60   0.00%   0.02%     0.76%     0.64%      0.78%     0.33%    0.04%    0.00%
 60-70   0.00%   0.05%     3.04%     1.81%      1.42%     0.76%    0.11%    0.07%
 70-80   0.00%   0.14%     5.47%     8.12%     20.49%    14.95%    4.89%    2.07%
 80-90   0.00%   0.00%     2.04%     5.87%      9.10%     4.19%    0.78%    0.29%
90-100   0.00%   0.01%     0.05%     1.10%      4.29%     2.38%    1.24%    0.23%
 >100    0.00%   0.00%     0.00%     0.00%      0.00%     0.00%    0.00%    0.00%


                                  LOANS WITH MI
                                      FICOS

LTVS



         *450   451-500   501-550   551-600   601-650   651-700   701-750   **750
---------------------------------------------------------------------------------

  <20
 20-30
 30-40
 40-50
 50-60
 60-70
 70-80
 80-90
90-100
 >100


LOAN COUNT

                                LOANS WITHOUT MI
                                      FICOS

CLTVS



         *450/NA   451-500   501-550   551-600   601-650   651-700   701-750   **750
------------------------------------------------------------------------------------

  <20       0         0          3         1         0         1         0        0
 20-30      0         0          3         1         6         4         0        0
 30-40      0         1          6         8         9         1         2        0
 40-50      0         0         23        22        30         9         2        1
 50-60      0         2         42        29        37        13         2        0
 60-70      0         2        138        86        56        26         5        1
 70-80      0         6        262       345       741       480       158       55
 80-90      0         0        111       259       332       141        28       15
90-100      0         2          2        74       334       198        74       18
 >100       0         0          0         0         0         0         0        0


                                  LOANS WITH MI
                                      FICOS

LTVS



         *450   451-500   501-550   551-600   601-650   651-700   701-750    **750
-----------------------------------------------------------------------------------

  <20     LTV     <450    451 500   501 550   551 600   601 650   651 700   701 750
 20-30
 30-40
 40-50
 50-60
 60-70
 70-80
 80-90
90-100
 >100


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.

834,934,301.16

Please provide a breakdown of percentages for each cell of the matrix for loans
that fall within the appropriate category brokendown between loans with MI and
loans without MI as well as the loan count for each breakdown in the matrices
below. The sum of the percentages for the with MI and without MI percentages
should equal 100%. The sum of the loans in the matrices below should equal the
number of loans in the pool. If FICO is not available for loan, default to <450
bucket. If deal does not have MI, provide data for the entire pool in the "Loans
without MI" matrix.



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THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



DEAL NAME: IXIS 2006-HE3

WE WOULD LIKE TO SEE THE FOLLOWING DATA ON THE AGGREGATE COLLATERAL AND ON ALL
OF THE GROUPS IN THE DEAL.



                                                        AGGREGATE
                                                          POOL
                                                       ----------

                   gross WAC (%)                            8.458
                    wtd avg FICO                              626
                   FICO < 500 (%)                            0.00
                   FICO < 550 (%)                           12.02
                   FICO < 600 (%)                           29.71
                  FICO 600-650 (%)                          37.56

CALCULATIONS INCLUDING 1ST LIENS ONLY:
             % Uninsured w/ LTV > 80%                       28.10
                    LTV = 80 (%)                            43.05

CALCULATIONS EXCLUDING SILENT/SIMULTANEOUS 2NDS (*):                  IF FIRST LIEN AND NO SECOND LIEN IN THE DEAL, THEN PROVIDE LTV
                  wtd avg CLTV (%)                          80.73     IF FIRST LIEN AND SECOND LIEN IN THE DEAL, THEN PROVIDE CLTV
                   CLTV > 80 (%)                            34.55     IF SECOND LIEN, THEN PROVIDE CLTV
                  CLTV 95 - 100 (%)                          7.56

          silent/simultaneous 2nd liens (%)                 34.70

CALCULATIONS INCLUDING SILENT/SIMULTANEOUS 2NDS (**):
                     wtd Avg CLTV                         87.42     PROVIDE CLTV ON FIRST, SECOND AND SILENT/SIMULTANEOUS SECONDS
                   CLTV 90 - 95 (%)                        6.55
                  CLTV 95 - 100 (%)                       39.63
                     Full Doc (%)                         41.02
                    Stated Doc (%)                        54.68
             No Doc /No Ratio / NINA (%)                   0.00
                      purch (%)                           42.77
                     CO refi (%)                          52.45
                     Own Occ (%)                          92.54
                     Investor (%)                          5.95
                  Prepay Penalty (%)                      74.01
                   wtd avg DTI (%)                        42.79
                      DTI < 40%                           26.89
                     DTI 40 - 45%                         27.85
                     DTI 45 - 50%                         35.41
                     DTI 50 - 55%                          8.91
                      DTI > 55%                            0.94
                  ARM ? (% of total)                      86.80
                  2/28 (% of total)                       68.72
                  3/27 (% of total)                       17.44
                  5/25 (% of total)                        0.47
                     1st Lien (%)                         96.51
                   Avg Loan Balance                  198,463.11
                      # of Loans                           4207
                 Loan Bal < $100k (%)                      8.23
                 Mtg Rates > 12% (%)                       0.95
                  Manuf Housing (%)                        0.00
             (%) & largest state code                  CA(32.46%)
                     IO loans (%)                         19.46
                     10yr IO (%)                           0.13
                      5yr IO (%)                          19.21
                     2 yr IO (%)                           0.05
                       IO: FICO                             659
                      IO LTV (%)                          80.60
                      IO DTI (%)                          43.27
                   IO full doc (%)                         7.25
                    IO: purch (%)                         11.39




                                        TEASER      IO TERM              GROSS  AVG. BALANCE  INITIAL RATE
LOAN TYPE                            PERIOD (MTHS)   (MTHS)  LOAN TERM  MARGIN       ($)       (ANNUAL %)   % OF POOL
---------------------------------------------------------------------------------------------------------------------
PLEASE MAKE APPROPRIATE ADDITIONS TO INCLUDE RELEVANT ARM AND/OR IO LOAN TYPES IN THE DEAL, AND COMPLETE THE FIELDS
LISTED BELOW

2/28'                                     24            0       360      6.337   189,275.76       8.687       27.27
2/28 30/40 Balloon                        24            0       360      6.220   270,148.65       8.242       25.53
2/28 30/50 Balloon                        24            0       360      5.250   203,934.59       8.450        0.02
3/27'                                     36            0       360      6.928   159,397.97       8.903        9.32
3/27 30/40 Balloon                        36            0       360      6.513   212,001.75       8.383        5.36
5/25'                                     60            0       360      5.968   165,906.98       8.472        0.24
1/29'                                     12            0       360      5.250   271,419.18       7.742        0.07
2/28 - 24 mo.IO                           24           24       360      6.757   215,700.00       7.225        0.05
2/28 - 60 mo.IO                           24           60       360      6.281   313,748.58       7.780       15.82
2/28 - 120 mo.IO                          24          120       360      3.000   186,686.00       8.000        0.02
3/27 - 36 mo.IO                           36           36       360      6.958   213,166.67       7.938        0.08
3/27 - 60 mo.IO                           36           60       360      6.418   276,079.55       7.772        2.68
3/27 - 120 mo.IO                          36          120       360      2.250    92,000.00       7.250        0.01
5/25 - 60 mo.IO                           60           60       360      4.946   283,680.00       6.921        0.17
5/25 - 120 mo.IO                          60          120       360      4.102   238,719.50       8.188        0.06
Dual Amort - 10/40 - 2 Year/6 Month       24            0       360      5.358   313,783.81       7.192        0.11


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



DEAL NAME: IXIS 2006-HE3

WE WOULD LIKE TO SEE THE FOLLOWING DATA ON THE AGGREGATE COLLATERAL AND ON ALL
OF THE GROUPS IN THE DEAL.



                                                       AGGREGATE
                                                          POOL
                                                       ----------

                  gross WAC (%)                             8.458
                   wtd avg FICO                               626
                  FICO < 500 (%)                             0.00
                  FICO < 550 (%)                            12.02
                  FICO < 600 (%)                            29.71
                 FICO 600-650 (%)                           37.56

CALCULATIONS INCLUDING 1ST LIENS ONLY:
            % Uninsured w/ LTV > 80%                        28.10
                   LTV = 80 (%)                             43.05

CALCULATIONS EXCLUDING SILENT/SIMULTANEOUS 2NDS (*):               IF FIRST LIEN AND NO SECOND LIEN IN THE DEAL, THEN PROVIDE LTV
                 wtd avg CLTV (%)                           80.73  IF FIRST LIEN AND SECOND LIEN IN THE DEAL, THEN PROVIDE CLTV
                  CLTV > 80 (%)                             34.55  IF SECOND LIEN, THEN PROVIDE CLTV
                 CLTV 95 -100 (%)                            7.56

        silent/simultaneous 2nd liens (%)                   34.70

CALCULATIONS INCLUDING SILENT/SIMULTANEOUS 2NDS (**):
                   wtd Avg CLTV                             87.42  PROVIDE CLTV ON FIRST, SECOND AND SILENT/SIMULTANEOUS SECONDS
                 CLTV 90 - 95 (%)                            6.55
                CLTV 95 - 100 (%)                           39.63

                   Full Doc (%)                             41.02
                  Stated Doc (%)                            54.68
           No Doc /No Ratio / NINA (%)                       0.00
                    purch (%)                               42.77
                   CO refi (%)                              52.45
                   Own Occ (%)                              92.54
                   Investor (%)                              5.95
                Prepay Penalty (%)                          74.01
                 wtd avg DTI (%)                            42.79
                    DTI < 40%                               26.89
                   DTI 40 - 45%                             27.85
                   DTI 45 - 50%                             35.41
                   DTI 50 - 55%                              8.91
                    DTI > 55%                                0.94
                ARM ? (% of total)                          86.80
             2/x hybrid (% of total)                        68.72
             3/x hybrid (% of total)                        17.44
             5/x hybrid (% of total)                         0.47
             1st Lien (% by $ amount)                       96.51
            1st Lien (% by # of loans)                      89.07
                 Avg Loan Balance                      198,463.11
                    # of Loans                               4207
               Loan Bal < $100k (%)                          8.23
               Mtg Rates > 12% (%)                           0.95
                Manuf Housing (%)                            0.00
           (%) & largest state code                    CA(32.46%)
                   IO loans (%)                             19.46
      % IO loans w/ stated maturity > 30yrs                  0.00
                   10yr IO (%)                               0.13
                    5yr IO (%)                              19.21
                   2 yr IO (%)                               0.05
                     IO: FICO                                 659
                    IO LTV (%)                              80.60
                    IO DTI (%)                              43.27
                 IO full doc (%)                             7.25
                  IO: purch (%)                             11.39
loans w/ maturity and/or amortization > 30yrs (%)           32.79
                  >30yr FICO (%)                              625
                  >30yr LTV (%)                             80.02
                  >30yr DTI (%)                             43.46
                >30yr full doc (%)                          13.00
                 >30yr purch (%)                            13.46
            Moody's Expected Loss (%)                        0.00
              S&P Expected Loss (%)                          0.00
             Fitch Expected Loss (%)                         0.00
              DBRS Expected Loss (%)                         0.00
                Full Appraisal (%)                           0.00
                     AVM (%)                                 0.00
                    Other (%)                                0.00




                                         TEASER     IO TERM              GROSS  AVG. BALANCE  INITIAL RATE
LOAN TYPE                            PERIOD (MTHS)   (MTHS)  LOAN TERM  MARGIN      ($)        (ANNUAL %)   % OF POOL
---------------------------------------------------------------------------------------------------------------------
PLEASE MAKE APPROPRIATE ADDITIONS TO INCLUDE RELEVANT ARM AND/OR IO LOAN TYPES IN THE DEAL, AND COMPLETE THE FIELDS
LISTED BELOW

2/28'                                      24           0       360     6.337    189,275.76       8.687       27.27
2/28 30/40 Balloon                         24           0       360     6.220    270,148.65       8.242       25.53
2/28 30/50 Balloon                         24           0       360     5.250    203,934.59       8.450        0.02
3/27'                                      36           0       360     6.928    159,397.97       8.903        9.32
3/27 30/40 Balloon                         36           0       360     6.513    212,001.75       8.383        5.36
5/25'                                      60           0       360     5.968    165,906.98       8.472        0.24
1/29'                                      12           0       360     5.250    271,419.18       7.742        0.07
2/28 - 24 mo.IO                            24          24       360     6.757    215,700.00       7.225        0.05
2/28 - 60 mo.IO                            24          60       360     6.281    313,748.58       7.780       15.82
2/28 - 120 mo.IO                           24         120       360     3.000    186,686.00       8.000        0.02
3/27 - 36 mo.IO                            36          36       360     6.958    213,166.67       7.938        0.08
3/27 - 60 mo.IO                            36          60       360     6.418    276,079.55       7.772        2.68
3/27 - 120 mo.IO                           36         120       360     2.250     92,000.00       7.250        0.01
5/25 - 60 mo.IO                            60          60       360     4.946    283,680.00       6.921        0.17
5/25 - 120 mo.IO                           60         120       360     4.102    238,719.50       8.188        0.06
Dual Amort - 10/40 - 2 Year/6 Month        24           0       360     5.358    313,783.81       7.192        0.11


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



HERE'S WHAT WE LIKE TO SEE:

THE PERCENTAGES PER TABLE SHOULD ADD UP TO 100% (DENOMINATOR = CORRESPONDING
AGGREGATE COLLATERAL POOL BALANCE)

FOR EXAMPLE, IF THE COLLATERAL MATICES ARE FOR GROUP II COLLATERAL, DENOMINATOR
TO BE USED FOR ALL THE % SHOULD BE AS OF AGGREGATE GROUP II COLLATERAL BALANCE)

FICO & DOCUMENTATION



FICO SCORE       FULL DOC   LIMITED DOC   STATED DOC   ALL DOC   AVG PRIN BAL   CURRENT LTV
-------------------------------------------------------------------------------------------
(50 increment)

NA
0 - 499
500 - 550          7.32%       0.43%         4.47%      12.22%      169,187        72.61
551 - 600         10.06%       0.85%         7.23%      18.14%      183,578        78.97
601 - 650         15.44%       1.89%        19.57%      36.91%      199,441        81.41
651 - 700          5.85%       0.88%        16.19%      22.92%      219,181        81.59
701 - 750          1.83%       0.24%         5.07%       7.14%      219,888        82.81
751 - 800          0.50%       0.00%         2.06%       2.57%      254,964        81.20
801 - 850          0.01%       0.01%         0.09%       0.12%      162,643        85.97
TOTAL:            41.02%       4.31%        54.68%     100.00%      198,463        80.03


LTV & FICO



CURRENT LTV     FICO NA  FICO 500-550  551-600  601-650  651-700  701-750  751-800
----------------------------------------------------------------------------------
(10 increment)

 0.01 -  10.00
10.01 -  20.00   0.00%       0.03%       0.02%    0.02%    0.02%   0.00%    0.00%
20.01 -  30.00   0.00%       0.07%       0.01%    0.08%    0.05%   0.00%    0.00%
30.01 -  40.00   0.00%       0.10%       0.15%    0.25%    0.02%   0.04%    0.00%
40.01 -  50.00   0.00%       0.42%       0.41%    0.49%    0.22%   0.05%    0.02%
50.01 -  60.00   0.00%       0.81%       0.64%    0.79%    0.33%   0.04%    0.00%
60.01 -  70.00   0.00%       3.07%       1.81%    1.40%    0.76%   0.11%    0.07%
70.01 -  80.00   0.00%       5.61%       8.12%   20.49%   14.95%   4.89%    1.99%
80.01 -  90.00   0.00%       2.04%       5.87%    9.10%    4.19%   0.78%    0.28%
90.01 - 100.00   0.00%       0.06%       1.10%    4.29%    2.38%   1.24%    0.20%
TOTAL:           0.00%      12.22%      18.14%   36.91%   22.92%   7.14%    2.57%


CURRENT LTV     801-850   TOTAL  AVG PRIN BAL   WAC   GROSS MARGIN
------------------------------------------------------------------
(10 increment)

 0.01 -  10.00
10.01 -  20.00   0.00%     0.08%    101,000    8.182      6.339
20.01 -  30.00   0.00%     0.21%    136,616    7.541      6.284
30.01 -  40.00   0.00%     0.56%    167,464    8.380      6.211
40.01 -  50.00   0.00%     1.61%    156,229    8.086      6.333
50.01 -  60.00   0.00%     2.62%    172,428    8.143      6.276
60.01 -  70.00   0.00%     7.22%    193,777    8.672      6.504
70.01 -  80.00   0.07%    56.13%    228,938    8.132      6.347
80.01 -  90.00   0.01%    22.27%    209,858    8.676      6.371
90.01 - 100.00   0.03%     9.29%    110,531    9.923      6.354
TOTAL:           0.12%   100.00%    198,463    8.458      6.361


PRIN BALANCE & FICO



PRIN BALANCE             FICO NA  FICO 500-550  551-600  601-650  651-700  701-750  751-800
-------------------------------------------------------------------------------------------
(50,000 increments)

        $1 -    $50,000   0.00%        0.08%      0.13%    0.53%    0.27%   0.07%    0.03%
   $50,001 -   $100,000   0.00%        1.14%      1.51%    2.66%    1.27%   0.40%    0.10%
  $100,001 -   $150,000   0.00%        2.56%      3.09%    4.25%    2.08%   0.51%    0.17%
  $150,001 -   $200,000   0.00%        2.66%      3.19%    4.62%    2.92%   0.98%    0.23%
  $200,001 -   $250,000   0.00%        1.81%      2.70%    5.10%    3.10%   0.99%    0.27%
  $250,001 -   $300,000   0.00%        1.52%      2.03%    4.85%    1.99%   0.72%    0.24%
  $300,001 -   $350,000   0.00%        1.01%      1.73%    3.35%    2.20%   0.73%    0.28%
  $350,001 -   $400,000   0.00%        0.64%      0.81%    2.24%    2.47%   1.00%    0.18%
  $400,001 -   $450,000   0.00%        0.36%      1.03%    2.59%    1.82%   0.20%    0.21%
  $450,001 -   $500,000   0.00%        0.12%      0.68%    2.47%    1.33%   0.67%    0.29%
  $500,001 -   $550,000   0.00%        0.06%      0.32%    1.33%    0.93%   0.19%    0.18%
  $550,001 -   $600,000   0.00%        0.20%      0.42%    0.76%    1.17%   0.21%    0.07%
  $600,001 -   $650,000   0.00%        0.08%      0.08%    0.68%    0.30%   0.30%    0.07%
  $650,001 -   $700,000   0.00%        0.00%      0.24%    0.16%    0.49%   0.08%    0.16%
  $700,001 -   $750,000   0.00%        0.00%      0.18%    0.79%    0.26%   0.00%    0.00%
  $750,001 -   $800,000   0.00%        0.00%      0.00%    0.19%    0.09%   0.09%    0.09%
  $800,001 -   $850,000   0.00%        0.00%      0.00%    0.10%    0.00%   0.00%    0.00%
  $850,001 -   $900,000   0.00%        0.00%      0.00%    0.00%    0.10%   0.00%    0.00%
  $900,001 -   $950,000
  $950,001 - $1,000,000   0.00%        0.00%      0.00%    0.24%    0.12%   0.00%    0.00%
$1,000,001 >=
TOTAL:                    0.00%       12.22%     18.14%   36.91%   22.92%   7.14%    2.57%


PRIN BALANCE             801-850   TOTAL  CURRENT LTV    WAC   GROSS MARGIN
---------------------------------------------------------------------------
(50,000 increments)

        $1 -    $50,000   0.00%     1.11%    93.56     11.173      6.516
   $50,001 -   $100,000   0.03%     7.12%    83.66      9.631      6.647
  $100,001 -   $150,000   0.01%    12.67%    78.92      8.900      6.495
  $150,001 -   $200,000   0.00%    14.60%    78.07      8.549      6.429
  $200,001 -   $250,000   0.00%    13.96%    79.07      8.348      6.404
  $250,001 -   $300,000   0.03%    11.37%    79.39      8.186      6.472
  $300,001 -   $350,000   0.00%     9.30%    79.86      8.182      6.275
  $350,001 -   $400,000   0.04%     7.38%    79.80      8.094      6.199
  $400,001 -   $450,000   0.00%     6.20%    81.12      8.045      6.364
  $450,001 -   $500,000   0.00%     5.56%    80.61      8.045      6.359
  $500,001 -   $550,000   0.00%     3.01%    81.85      7.961      5.897
  $550,001 -   $600,000   0.00%     2.83%    80.97      8.150      6.095
  $600,001 -   $650,000   0.00%     1.50%    83.67      8.355      6.107
  $650,001 -   $700,000   0.00%     1.13%    78.18      7.845      6.315
  $700,001 -   $750,000   0.00%     1.23%    81.99      8.382      5.947
  $750,001 -   $800,000   0.00%     0.46%    84.26      8.695      6.065
  $800,001 -   $850,000   0.00%     0.10%    78.67      8.875      6.250
  $850,001 -   $900,000   0.00%     0.10%    90.00      7.990      5.250
  $900,001 -   $950,000
  $950,001 - $1,000,000   0.00%     0.36%    78.48      7.537      6.167
$1,000,001 >=
TOTAL:                    0.12%   100.00%    80.03      8.458      6.361


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.

PREPAYMENT PENALTY & FICO



PREPAYMENT PENALTY TERM  FICO NA  FICO 500-550  551-600  601-650  651-700  701-750  751-800
-------------------------------------------------------------------------------------------
(whatever increments)

 0                         0.00%       3.47%      5.19%    9.16%    5.46%    2.17%    0.54%
 6                         0.00%       0.10%      0.02%    0.03%    0.22%    0.05%    0.00%
12                         0.00%       0.53%      1.10%    2.94%    2.11%    1.02%    0.45%
24                         0.00%       4.67%      7.53%   18.06%   10.49%    2.56%    1.23%
30                         0.00%       0.03%      0.03%    0.09%    0.02%    0.00%    0.00%
36                         0.00%       3.03%      4.06%    6.40%    4.49%    1.33%    0.34%
48                         0.00%       0.02%      0.00%    0.00%    0.00%    0.00%    0.00%
60                         0.00%       0.38%      0.21%    0.23%    0.12%    0.01%    0.00%
                         #VALUE!     #VALUE!    #VALUE!  #VALUE!  #VALUE!  #VALUE!  #VALUE!
TOTAL:                     0.00%      12.22%     18.14%   36.91%   22.92%    7.14%    2.57%


PREPAYMENT PENALTY TERM  801-850   TOTAL   CURRENT LTV   WAC   GROSS MARGIN  AVG PRIN BAL
-----------------------------------------------------------------------------------------
(whatever increments)

 0                         0.01%   25.99%     80.79     8.805      6.198       180,967
 6                         0.00%    0.42%     77.59     8.529      4.908       232,647
12                         0.01%    8.16%     78.50     8.285      6.178       287,629
24                         0.10%   44.64%     80.01     8.235      6.420       221,599
30                         0.00%    0.17%     82.27     9.452      7.202       200,992
36                         0.00%   19.66%     79.98     8.550      6.592       163,012
48                         0.00%    0.02%     36.49     8.500      0.000       145,964
60                         0.00%    0.94%     76.43     8.849      5.531       133,269
                         #VALUE!  #VALUE!
TOTAL:                     0.12%  100.00%     80.03     8.458      6.361       198,463




MORTG RATES & FICO
MORTG RATES              FICO NA  FICO 500-550  551-600  601-650  651-700  701-750  751-800
-------------------------------------------------------------------------------------------
(50 bps increment)

 5.501 -  6.000            0.00%       0.00%      0.00%    0.07%    0.04%    0.13%    0.00%
 6.001 -  6.500            0.00%       0.02%      0.15%    0.62%    0.69%    0.22%    0.12%
 6.501 -  7.000            0.00%       0.08%      0.53%    2.92%    2.43%    0.96%    0.22%
 7.001 -  7.500            0.00%       0.18%      0.96%    5.24%    3.86%    1.23%    0.54%
 7.501 -  8.000            0.00%       1.03%      3.40%    8.95%    6.42%    1.65%    0.96%
 8.001 -  8.500            0.00%       0.77%      3.04%    5.96%    3.78%    0.82%    0.27%
 8.501 -  9.000            0.00%       2.60%      3.92%    5.76%    2.35%    0.99%    0.16%
 9.001 -  9.500            0.00%       1.94%      2.09%    2.66%    1.41%    0.53%    0.13%
 9.501 - 10.000            0.00%       3.14%      2.12%    2.01%    0.66%    0.26%    0.02%
10.001 - 10.500            0.00%       0.97%      0.92%    0.69%    0.16%    0.09%    0.00%
10.501 - 11.000            0.00%       0.89%      0.65%    0.56%    0.32%    0.15%    0.10%
11.001 - 11.500            0.00%       0.37%      0.18%    0.21%    0.22%    0.09%    0.03%
11.501 - 12.000            0.00%       0.21%      0.08%    0.61%    0.41%    0.00%    0.00%
12.001 - 12.500            0.00%       0.01%      0.04%    0.31%    0.08%    0.01%    0.00%
12.501 - 13.000            0.00%       0.01%      0.01%    0.17%    0.09%    0.00%    0.00%
13.001 - 13.500            0.00%       0.00%      0.03%    0.11%    0.00%    0.00%    0.00%
13.501 - 14.000            0.00%       0.00%      0.00%    0.03%    0.01%    0.00%    0.00%
14.001 - 14.500            0.00%       0.00%      0.00%    0.01%    0.00%    0.00%    0.00%
                         #VALUE!     #VALUE!    #VALUE!  #VALUE!  #VALUE!  #VALUE!  #VALUE!
                         #VALUE!     #VALUE!    #VALUE!  #VALUE!  #VALUE!  #VALUE!  #VALUE!
                         #VALUE!     #VALUE!    #VALUE!  #VALUE!  #VALUE!  #VALUE!  #VALUE!
TOTAL:                     0.00%      12.22%     18.14%   36.91%   22.92%    7.14%    2.57%


MORTG RATES & FICO
MORTG RATES            801-850   TOTAL   CURRENT LTV    WAC   GROSS MARGIN  AVG PRIN BAL
----------------------------------------------------------------------------------------
(50 bps increment)

 5.501 -  6.000          0.00%    0.23%     75.99      5.939      4.435        322,304
 6.001 -  6.500          0.04%    1.87%     74.40      6.349      5.759        294,173
 6.501 -  7.000          0.00%    7.15%     76.22      6.870      5.761        262,965
 7.001 -  7.500          0.01%   12.02%     78.20      7.313      6.056        255,394
 7.501 -  8.000          0.00%   22.41%     79.20      7.816      6.218        248,460
 8.001 -  8.500          0.03%   14.67%     79.73      8.289      6.536        223,922
 8.501 -  9.000          0.00%   15.78%     79.46      8.796      6.494        192,895
 9.001 -  9.500          0.01%    8.77%     81.20      9.288      6.752        196,831
 9.501 - 10.000          0.00%    8.23%     81.51      9.802      6.605        161,979
10.001 - 10.500          0.02%    2.85%     84.17     10.296      6.735        133,595
10.501 - 11.000          0.00%    2.67%     86.20     10.779      6.775        109,958
11.001 - 11.500          0.00%    1.10%     85.94     11.262      6.750        100,810
11.501 - 12.000          0.00%    1.31%     94.37     11.777      6.532         75,457
12.001 - 12.500          0.00%    0.46%     97.76     12.269      6.167         71,575
12.501 - 13.000          0.00%    0.28%     97.48     12.794      6.666         57,865
13.001 - 13.500          0.00%    0.14%     99.98     13.317      0.000         42,760
13.501 - 14.000          0.00%    0.04%     98.67     13.804      0.000         51,888
14.001 - 14.500          0.00%    0.01%     99.99     14.151      0.000         54,167
                       #VALUE!  #VALUE!
                       #VALUE!  #VALUE!
                       #VALUE!  #VALUE!
TOTAL:                   0.12%  100.00%     80.03      8.458      6.361        198,463




MORTG RATES & LTV
MORTG RATES              .01-10   10.01-20  20.01-30  30.01-40  40.01-50  50.01-60  60.01-70
--------------------------------------------------------------------------------------------
(50 bps increment)

 5.501 -  6.000            0.00%     0.00%     0.00%     0.00%     0.00%     0.07%     0.00%
 6.001 -  6.500            0.00%     0.00%     0.02%     0.02%     0.17%     0.08%     0.18%
 6.501 -  7.000            0.00%     0.02%     0.03%     0.07%     0.13%     0.39%     0.53%
 7.001 -  7.500            0.00%     0.01%     0.07%     0.12%     0.21%     0.29%     0.86%
 7.501 -  8.000            0.00%     0.01%     0.07%     0.03%     0.29%     0.59%     0.98%
 8.001 -  8.500            0.00%     0.02%     0.00%     0.05%     0.15%     0.28%     0.94%
 8.501 -  9.000            0.00%     0.03%     0.02%     0.13%     0.40%     0.42%     1.26%
 9.001 -  9.500            0.00%     0.00%     0.00%     0.08%     0.14%     0.14%     0.51%
 9.501 - 10.000            0.00%     0.00%     0.00%     0.02%     0.09%     0.23%     1.00%
10.001 - 10.500            0.00%     0.00%     0.00%     0.00%     0.00%     0.06%     0.30%
10.501 - 11.000            0.00%     0.00%     0.00%     0.00%     0.02%     0.05%     0.31%
11.001 - 11.500            0.00%     0.00%     0.00%     0.03%     0.01%     0.02%     0.26%
11.501 - 12.000            0.00%     0.00%     0.00%     0.02%     0.00%     0.01%     0.08%
12.001 - 12.500            0.00%     0.00%     0.00%     0.00%     0.00%     0.00%     0.00%
12.501 - 13.000            0.00%     0.00%     0.00%     0.00%     0.00%     0.00%     0.00%
13.001 - 13.500            0.00%     0.00%     0.00%     0.00%     0.00%     0.00%     0.00%
13.501 - 14.000            0.00%     0.00%     0.00%     0.00%     0.00%     0.00%     0.00%
14.001 - 14.500            0.00%     0.00%     0.00%     0.00%     0.00%     0.00%     0.00%
                         #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!
                         #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!
                         #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!   #VALUE!
TOTAL:                     0.00%     0.08%     0.21%     0.56%     1.61%     2.62%     7.22%


MORTG RATES & LTV
MORTG RATES              70.01-80  80.01-90  90.01-100   TOTAL   AVG FICO  GROSS MARGIN  AVG PRIN BAL
-----------------------------------------------------------------------------------------------------
(50 bps increment)

 5.501 -  6.000             0.03%     0.13%      0.00%    0.23%       684         4.435       322,304
 6.001 -  6.500             1.08%     0.26%      0.07%    1.87%       664         5.759       294,173
 6.501 -  7.000             5.08%     0.91%      0.00%    7.15%       656         5.761       262,965
 7.001 -  7.500             8.18%     1.83%      0.44%   12.02%       652         6.056       255,394
 7.501 -  8.000            15.75%     3.88%      0.80%   22.41%       642         6.218       248,460
 8.001 -  8.500             9.50%     2.99%      0.74%   14.67%       631         6.536       223,922
 8.501 -  9.000             8.11%     4.17%      1.24%   15.78%       610         6.494       192,895
 9.001 -  9.500             3.92%     3.27%      0.72%    8.77%       607         6.752       196,831
 9.501 - 10.000             2.71%     2.94%      1.23%    8.23%       580         6.605       161,979
10.001 - 10.500             0.96%     0.93%      0.60%    2.85%       580         6.735       133,595
10.501 - 11.000             0.57%     0.78%      0.95%    2.67%       596         6.775       109,958
11.001 - 11.500             0.10%     0.08%      0.60%    1.10%       606         6.750       100,810
11.501 - 12.000             0.11%     0.03%      1.06%    1.31%       619         6.532        75,457
12.001 - 12.500             0.01%     0.05%      0.40%    0.46%       628         6.167        71,575
12.501 - 13.000             0.01%     0.03%      0.25%    0.28%       637         6.666        57,865
13.001 - 13.500             0.00%     0.00%      0.14%    0.14%       622         0.000        42,760
13.501 - 14.000             0.00%     0.01%      0.04%    0.04%       646         0.000        51,888
14.001 - 14.500             0.00%     0.00%      0.01%    0.01%       637         0.000        54,167
                          #VALUE!   #VALUE!    #VALUE!  #VALUE!
                          #VALUE!   #VALUE!    #VALUE!  #VALUE!
                          #VALUE!   #VALUE!    #VALUE!  #VALUE!
TOTAL:                     56.13%    22.27%      9.29%  100.00%       626         6.361       198,463




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conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
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parties, their affiliates, agents or advisors In the UK, this communication is
directed in the UK to those persons who are market counterparties or
intermediate customers (as defined in the UK Financial Services Authority's
rules). In Japan, this communication is directed to the sophisticated
institutional investors as defined under the Foreign Broker Dealer Law of Japan
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IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
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THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
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TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
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IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



DEAL NAME: IXIS 2006-HE3

INSTRUCTIONS: PLEASE ALSO PROVIDE INFO ON CONFORMING AND NON-CONFORMING POOL
(CELLS HAVE ALREADY BEEN FORMATTED IN COLUMN B, C, D, E)

                                      aggregate pool
           gross WAC (%)                       8.458
            wtd avg FICO                         626
           FICO < 600 (%)                      29.71
          FICO 600-650 (%)                     37.56
          wtd avg CLTV (%)                     80.13
           CLTV = 80 (%)                       43.05
          CLTV > 80.01 (%)                     31.56
        CLTV 95.01 -100 (%)                     4.59
            Full Doc (%)                       41.02
           Stated Doc (%)                      54.68
             purch (%)                         42.77
            CO refi (%)                        52.45
            Own Occ (%)                        92.54
         Prepay Penalty (%)                    74.01
          wtd avg DTI (%)                      42.79
              DTI <40%                         26.89
        40.00% < DTI <44.99%                   27.85
         45.0% < DTI <49.99%                   35.41
        50.00% < DTI <54.99%                    8.91
             DTI > 55+                          0.94
             ARM ? (%)                         86.80
              2/28 (%)                         68.72
              3/27 (%)                         17.44
            1st Lien (%)                       96.51
          Avg Loan Balance                   198,463
             # of Loans                        4,207
        Loan Bal < $100k (%)                    8.23
        Mtg Rates > 12% (%)                     0.95
         Manuf Housing (%)                      0.00
    (%) & largest state code CA               (32.46%)
           silent 2nd (%)                      34.70
            IO loans (%)                       19.46
             5yr IO (%)                        19.21
            2 yr IO (%)                         0.05
              IO: FICO                           659
             IO LTV (%)                        80.60
             IO DTI (%)                        43.27
          IO full doc (%)                       7.25
           IO: purch (%)                       11.39

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
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exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors In the UK, this communication is
directed in the UK to those persons who are market counterparties or
intermediate customers (as defined in the UK Financial Services Authority's
rules). In Japan, this communication is directed to the sophisticated
institutional investors as defined under the Foreign Broker Dealer Law of Japan
and the ordinances thereunder. The trademarks and service marks contained herein
are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.





                                          IXIS 2006-HE3                            DATA
                             ---------------------------------------          --------------

COLLATERAL CHARACTERISTICS   Pool Balance                                $    834,934,301.16
                             # OF LOANS                                  #              4207
                             AVG PRIN BALANCE                            $        198,463.11
                             GWAC                                        %             8.458%
                             WA NET RATE                                 %             7.938%
                             WAM                                         #               351
                             SEASONING                                   #                 3
                             SECOND LIENS                                %              3.49%
                             SILENT SECONDS                              %             34.70%
                             WA DTI                                      %             42.79
                             WA LTV (FIRST+SECOND LIENS)                 %             80.13
                             WA SSCLTV (FIRST+SECOND+SILENT SECONDS)     %             86.82
                             WA FICO                                     #               626
                             IO                                          %             19.46%
                             IO LOAN + DTI > 45                          %              8.69%
                             PREPAY PENALTIES                            %             74.01%
                             TOP ORIGINATOR                            NAME        First NLC
                             MASTER SERVICER                           NAME
                             TRUSTEE                                   NAME    Deutsche Bank
                             CREDIT RISK MANAGER                       NAME
ARM CHARACTERISTICS          WAC (ARMS ONLY)                             %             8.358%
                             WAM (ARMS ONLY)                             #               357
                             WA MARGIN                                   %             6.361%
                             WA INITIAL CAP                              %             2.501%
                             WA PERIODIC CAP                             %             1.347%
                             WA CAP                                      %             6.713%
                             WA MONTHS TO ROLL                           #                23
LOAN TYPE                    FIXED                                       %             13.20%
                                                 10YR                    %              0.06%
                                                 15YR                    %              0.23%
                                                 20YR                    %              0.24%
                                                 30YR                    %              7.43%
                             BALLOONS                                    %             35.54%
                             2/28 ARMS                                   %             68.72%
                             3/27 ARMS                                   %             17.44%
                             5/25 ARMS                                   %              0.47%
                             OTHER HYBRID ARMS                           %              0.18%
INDEX                        1-MONTH LIBOR                               %              0.00%
                             6-MONTH LIBOR                               %             86.80%
                             OTHER INDEX                                 %             13.20%
LOAN PURPOSE                 PURCHASE                                    %             42.77%
                             CASH-OUT REFI                               %             52.45%
                             RATE-TERM REFI                              %              4.78%
                             DEBT CONSOLIDATION                          %              0.00%
OCCUPANCY STATUS             OWNER                                       %             92.54%
                             SECOND HOME                                 %              1.52%
                             INVESTOR                                    %              5.95%
PROPERTY TYPE                SINGLE FAMILY                               %             78.06%
                             2-4 FAMILY                                  %              9.35%
                             PUD                                         %              6.36%
                             MH                                          %              0.00%
                             CONDO                                       %              6.23%
DOC TYPE                     FULL DOC                                    %             41.02%
                             STATED DOC                                  %             54.68%
                             LIMITED DOC                                 %              4.31%
                             NO DOC                                      %              0.00%
MI DATA                      MI FLAG                                    Y/N                N
                             % OF POOL COVERED                           %                --
                             EFFECTIVE LTV                               %                --
FICO DISTRIBUTION            FICO <460                                   %              0.00%
                             FICO 460-479                                %              0.00%
                             FICO 480-499                                %              0.00%
                             FICO 500-519                                %              4.40%
                             FICO 520-539                                %              4.95%
                             FICO 540-559                                %              5.52%
                             FICO 560-579                                %              6.25%
                             FICO 580-599                                %              8.60%
                             FICO 600-619                                %             13.28%
                             FICO 620-639                                %             16.60%
                             FICO 640-659                                %             13.64%
                             FICO 660-679                                %              9.76%
                             FICO 680-699                                %              6.86%
                             FICO 700-719                                %              3.96%
                             FICO 720-739                                %              2.50%
                             FICO 740-759                                %              1.76%
                             FICO >760                                   %              1.92%
DTI DISTRIBUTION             DTI <10.00                                  %              0.74%
                             DTI 10.00-19.99                             %              1.31%
                             DTI 20.00-29.99                             %              5.71%
                             DTI 30.00-39.99                             %             19.13%
                             DTI 40.00-49.99                             %             63.26%
                             DTI 50.00-59.99                             %              9.85%
                             DTI 60.00-69.99                             %              0.00%
                             DTI > 70                                    %              0.00%
SS CLTV DISTRIBUTION         SS CLTV <20                                 %              0.07%
LTV INCLUDING SECONDS AND    SS CLTV 20.01-30                            %              0.22%
ANY SILENT SECONDS           SS CLTV 30.01-40                            %              0.54%
                             SS CLTV 40.01-50                            %              1.58%
                             SS CLTV 50.01-60                            %              2.56%
                             SS CLTV 60.01-70                            %              7.18%
                             SS CLTV 70.01-80                            %             23.06%
                             SS CLTV 80.01-90                            %             21.62%
                             SS CLTV 90.01-100                           %             43.16%
                             SS CLTV >100                                %              0.00%






SSCLTV              WAFICO    WAC    % BAL.   PURCH %   INVT PROP %   1ST LIEN %   % WITH S.2NDS
------------------------------------------------------------------------------------------------

80-85%                604    8.637     9.97     9.37       11.01        100.00          0.68
85-90%                629    8.630    11.64    23.82       12.93         99.84          4.86
90-95%                650    8.636     6.50    43.95       14.91         98.84         29.52
95-100%               657    8.369    36.66    83.30        0.22         90.82         87.48
> 100
Greater than 100%


SSCLTV               CA%    FULL DOC %    IO%    DTI %   DTI% > 45   % WITH MI   % FIXED
----------------------------------------------------------------------------------------

80-85%              26.95      49.31     14.16   42.07     39.38        0.00      14.37
85-90%              28.97      45.21     17.81   42.97     46.97        0.00      11.74
90-95%              28.35      50.99     22.87   42.90     50.95        0.00      10.41
95-100%             41.11      32.91     28.94   43.85     49.30        0.00      12.05
> 100
Greater than 100%




                                                 % OF
Loan Balance          # OF     AGG PRINCIPAL   PRINCIPAL
Distribution          LOANS       BALANCE       BALANCE     GWAC    WA CLTV   WA FICO
-------------------------------------------------------------------------------------

$0-25,000               31        673,662.09      0.08     11.023    99.81      650
$25,001-50,000         217      8,609,761.89      1.03     11.184    93.62      633
$50,001-75,000         368     23,374,010.94      2.80     10.133    88.99      619
$75,001-100,000        411     36,041,775.80      4.32      9.306    86.40      613
$100,001-150,000       847    105,770,009.19     12.67      8.900    84.24      607
$150,001-200,000       697    121,896,329.50     14.60      8.549    83.92      614
$200,001-250,000       520    116,547,962.17     13.96      8.348    85.50      623
$250,001-300,000       346     94,951,722.34     11.37      8.186    86.35      621
$300,001-350,000       240     77,684,212.99      9.30      8.182    86.31      628
$350,001-400,000       164     61,651,946.90      7.38      8.094    89.83      646
$400,001-450,000       122     51,768,201.03      6.20      8.045    90.63      633
$450,001-500,000        97     46,417,074.87      5.56      8.045    91.11      647
$500,001-550,000        48     25,101,206.67      3.01      7.961    90.84      648
$550,001-600,000        41     23,658,933.49      2.83      8.150    88.27      643
$600,001-650,000        20     12,537,504.36      1.50      8.355    89.00      643
$650,001-700,000        14      9,426,296.92      1.13      7.845    86.45      667
$700,001-750,000        14     10,261,097.32      1.23      8.382    88.20      637
$750,001-800,000         5      3,881,055.05      0.46      8.695    95.99      694
$800,001-850,000         1        849,621.74      0.10      8.875    78.70      620
$850,001-900,000         1        855,000.00      0.10      7.990    90.00      671
$900,001-950,000
$950,001-1,000,000       3      2,976,915.90      0.36      7.537    78.54      653
>$1,000,001






                                           % OF      # OF                        AVG       WA SS   % WITH    WA    % OWNER
                      MSA GEO            TOTAL BAL   LOANS      LOAN BAL       LOAN BAL     CLTV     2ND    FICO     OCC     % FIXED
------------------------------------------------------------------------------------------------------------------------------------

California                                 32.46       915   271,051,189.84   296,230.81   88.57    47.41    641    93.29      9.76
PACIFIC ( AK, HI, OR, WA)                   4.33       163    36,144,058.57   221,742.69   86.66    40.09    620    92.66      7.22
MOUNTAIN (AZ, CO, ID,  MT, NM, NV, UT,
   WY)                                      8.32       380    69,469,029.78   182,813.24   87.70    39.00    621    92.26      9.84
W. NORTH CENTRAL (IA, KS, MN, MO, ND,
   SD, NE)                                  1.90       127    15,848,224.43   124,789.17   87.39    30.88    603    88.37     14.52
W. SOUTH CENTRAL (AR, LA, OK, TX)           3.81       311    31,785,854.08   102,205.32   86.79    28.66    614    92.31     37.37
E. NORTH CENTRAL (IL, IN, MI, OH, WI)      10.06       575    83,959,877.96   146,017.18   88.30    34.36    614    91.56     14.52
E. SOUTH CENTRAL (AL, KY, MS, TN)           1.22       101    10,193,946.94   100,930.17   87.94    31.14    598    84.76     19.43
NEW ENGLAND (CT, MA ,ME, NH, RI, VT)        6.43       254    53,694,938.59   211,397.40   85.57    30.66    618    95.28     12.73
MIDDLE ATLANTIC (NJ, NY, PA)                9.32       342    77,795,584.24   227,472.47   82.83    28.83    630    95.18     21.06
SOUTH ATLANTIC ( DC, DE, FL, GA, MD,
   NC, SC, VA, WV)                         22.16      1039   184,991,596.73   178,047.74   85.23    32.38    619    90.87     12.28




                     % OF       # OF                      AVG       WA SS
RUSS BELT STATES   TOTAL BAL   LOANS      LOAN BAL      LOAN BAL     CLTV   % WITH 2ND   WA FICO   % OWNER OCC   % FIXED
------------------------------------------------------------------------------------------------------------------------

Indiana               0.52       47     4,368,330.96    92,943.21   91.84      33.88       593        93.55       27.81
Michigan              1.61      125    13,436,420.95   107,491.37   88.49      35.10       594        91.81       15.33
Ohio                  0.59       50     4,958,808.03    99,176.16   90.18      30.25       596        84.75       24.32




                            WA SS                                 INVT     1ST   % WITH          FULL                 DTI%  % WITH
ORIGINATOR/ SOURCE  WA LTV   CLTV  FICO   WAC   % BAL.  PURCH %  PROP %  LIEN %  S.2NDS   CA%   DOC %   IO%    DTI%   > 45    MI
----------------------------------------------------------------------------------------------------------------------------------

Accredited           77.27  85.03   621  8.489   12.16   39.82     5.83  100.00   39.60  14.51  35.63  12.89  41.90  24.41   0.00
Aegis
Chapel               76.20  91.00   617  7.759    0.48   59.47     0.00   98.80   69.15  39.53  26.55  47.20  44.49  61.16   0.00
Decision One
Encore               78.78  83.79   628  8.270    9.80   30.53     8.84   99.87   25.81  46.41  49.37  16.96  42.77  47.51   0.00
First Banc           74.36  86.22   615  8.293    1.51   58.71     2.77   93.42   33.91  61.21  43.04  43.84  42.62  38.97   0.00
First Horizon        84.05  88.63   623  9.156    3.85   54.26    16.54  100.00   25.12   8.27  61.07  16.10  40.28  34.03   0.00
First NLC            76.85  87.96   626  8.498   39.01   44.11     4.68   95.07   37.50  30.33  35.00  18.86  43.55  53.47   0.00
Flex Point           70.12  70.12   598  8.896    0.58    3.99    19.78  100.00    0.00  30.51  62.31  15.16  42.96  43.43   0.00
Fremont
Funding America      68.15  87.30   631  8.789    0.72   64.69     6.29   83.41   29.58  42.85  46.28  20.80  41.04  39.21   0.00
Lenders Direct       71.58  87.12   624  8.485    1.05   44.46     3.54   87.29   34.34  41.65  23.42  20.91  43.75  45.75   0.00
Lime Financial       78.32  92.52   640  8.393    1.52   58.91     3.19   92.28   42.40  43.04  15.68  35.02  43.84  65.13   0.00
Mandalay             63.59  90.83   667  8.633    0.65   62.42     6.96   72.89   28.67  83.38  32.84  35.25  45.24  55.69   0.00
Master Financial     74.87  90.81   638  8.506    5.96   59.60     0.63   88.63   35.06  63.09  43.18  23.92  42.07  33.50   0.00
Meritage
New Century          79.65  88.37   631  8.259   16.42   48.13     7.06   99.53   42.53  38.68  50.74  23.04  42.23  44.27   0.00
Quick Loan           72.46  72.46   588  8.186    1.02    0.00     9.10  100.00    0.00  64.96  46.83  11.00  42.28  41.82   0.00
Rose Mortgage        75.92  79.27   613  8.536    5.07   12.86     5.48   97.49    7.93   0.00  42.58  16.43  43.01  47.84   0.00
Wilmington
WMC






DOCUMENTATION  WALTV  WA SS CLTV  WAFICO    WAC  % BAL.  PURCH %  INVT PROP %  1ST LIEN %
-----------------------------------------------------------------------------------------

Full Doc       78.51       85.23     607  8.246   41.02    31.16         5.09       98.06
Stated Doc     76.47       87.86     641  8.630   54.68    51.23         6.16       95.49
Limited Doc    77.57       88.83     619  8.300    4.31    46.02        11.39       94.57
No Doc


DOCUMENTATION  % WITH S.2NDS    CA%  FULL DOC %    IO%  DTI %  DTI% > 45  % WITH MI
-----------------------------------------------------------------------------------

Full Doc               27.11  24.08      100.00  17.67  42.19      45.98       0.00
Stated Doc             40.38  38.10        0.00  20.31  43.49      45.06       0.00
Limited Doc            34.85  40.71        0.00  25.71  39.66      40.07       0.00
No Doc


AGGREGATE LOANS (FIRST LIEN ONLY) :  IN SPECIFIC BUCKET



                                                                                                         % SECOND LIEN
                                                                                                         (SIMULTANEOUS
FICO              % OF TOTAL DEAL  AVG SS CLTV  MAX LTV  % FULL DOC  % OWNER OCC   % IO    WAC   MARGIN    OR SILENT)   % FIXED
-------------------------------------------------------------------------------------------------------------------------------

500-519                     4.39%        72.46    90.00       69.49        98.80   0.59  9.530    6.611           2.22    11.06
520-539                     4.95%        72.52    95.00       56.36        98.13   0.00  9.422    6.753           3.27    12.83
540-559                     5.52%        76.77    99.60       57.00        96.91   0.54  9.111    6.596           4.14    10.45
560-579                     6.23%        78.41   100.00       51.56        96.79   1.37  8.851    6.621           5.83     9.66
580-599                     8.52%        82.86   100.00       55.30        93.35   4.77  8.601    6.550          13.63    11.04
600-619                    12.93%        87.04   100.00       54.06        93.56  25.25  8.255    6.275          32.24     8.25
620-639                    15.64%        89.13   100.00       38.70        93.62  23.46  8.152    6.394          44.23    10.45
640-659                    12.87%        90.35   100.00       30.60        89.55  28.95  8.026    6.348          50.61     9.51
660-679                     9.31%        92.06   100.00       26.16        88.24  30.10  7.966    6.243          57.51    11.26
680-699                     6.50%        91.21   100.00       25.39        87.61  33.69  7.864    5.940          55.51    10.43
700-719                     3.79%        94.68   100.00       24.50        88.67  32.17  7.897    6.011          64.21     8.85
720-739                     2.38%        93.92   100.00       27.37        83.52  31.98  7.840    6.097          62.10    11.23
740-759                     1.71%        93.87   100.00       16.09        77.39  27.81  8.059    5.991          63.98     6.66
760-779                     1.15%        95.01    90.00       18.77        97.07  48.97  7.591    6.160          73.62     0.00
780-800                     0.54%        89.95    90.00       30.29        92.14  32.34  7.559    6.384          51.06    18.07
800+                        0.09%        81.60    90.00       15.99       100.00  84.01  7.174    6.288           0.00     0.00
-------------------------------------------------------------------------------------------------------------------------------
TOTALS (OF DEAL)          100.00%        86.82   100.00       41.02        92.54  19.46  8.458    6.361          34.70    13.20
-------------------------------------------------------------------------------------------------------------------------------


AGGREGATE LOANS (SECOND LIEN ONLY)




FICO     % OF TOTAL DEAL  AVG SS CLTV  MAX LTV  % FULL DOC  % OWNER OCC  % IO     WAC  MARGIN
---------------------------------------------------------------------------------------------

<520               0.01%       100.00   100.00       42.73      100.000  0.00  11.118   0.000
520-539
540-559
560-579            0.02%       100.00   100.00      100.00      100.000  0.00  11.911   0.000
580-599            0.08%       100.00   100.00       69.11      100.000  0.00  12.619   0.000
600-619            0.36%        99.75   100.00       56.75      100.000  0.00  11.700   0.000
620-639            0.95%        99.89   100.00       17.10       99.430  0.00  11.928   0.000
640-659            0.77%        99.71   100.00        8.99      100.000  0.00  11.684   0.000
660-679            0.45%        99.84   100.00       14.08       99.101  0.00  11.262   0.000
680-699            0.36%        99.81   100.00       27.63       98.131  0.00  10.967   0.000
700-719            0.17%        99.86   100.00       38.74      100.000  0.00  10.540   0.000
720-739            0.13%       100.00   100.00        8.52      100.000  0.00  10.828   0.000
740-759            0.04%        99.38   100.00       15.48      100.000  0.00  10.878   0.000
760-779            0.05%        99.48   100.00        0.00       89.695  0.00  10.786   0.000
780-800            0.07%        84.64   100.00       52.31      100.000  0.00   9.835   0.000
800+               0.03%       100.00   100.00        0.00      100.000  0.00   9.934   0.000



IF SECONDS IN DEAL:

Second Lien Loans

FRM %  100%
-----------
ARM %    0%
-----------

CREDIT ENHANCEMENT:

                      SUBORDINATION %
                      INITIAL OC %
                      TARGET OC % BEFORE STEPDOWN
                      TARGET OC % AFTER STEPDOWN
                      INITIAL EXCESS INTEREST
                      OTHER CE %

DERIVATIVES:

TRIGGERS:

                      DELINQUENCY TRIGGER
                      CUM LOSS TRIGGER

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



PERCENTAGE BY RANGE

                                        LOANS WITHOUT MI
                                             FICOS

              *450   451-500  501-550  551-600  601-650  651-700  701-750  **750
              ------------------------------------------------------------------
        <20   0.00%    0.00%    0.03%    0.02%    0.00%    0.02%    0.00%  0.00%
       20-30  0.00%    0.00%    0.07%    0.01%    0.09%    0.05%    0.00%  0.00%
       30-40  0.00%    0.01%    0.06%    0.09%    0.17%    0.02%    0.04%  0.00%
       40-50  0.00%    0.00%    0.42%    0.45%    0.54%    0.17%    0.05%  0.02%
LTVS   50-60  0.00%    0.02%    0.67%    0.63%    0.71%    0.36%    0.02%  0.00%
       60-70  0.00%    0.02%    2.26%    1.62%    1.21%    0.57%    0.09%  0.07%
       70-80  0.00%    0.07%    3.98%    3.82%    4.27%    2.20%    0.29%  0.16%
       80-90  0.00%    0.11%    4.28%    7.95%   21.75%   15.03%    5.15%  2.08%
      90-100  0.00%    0.00%    0.21%    3.10%    6.37%    3.30%    0.91%  0.20%
       >=100  0.00%    0.01%    0.00%    0.45%    1.80%    1.19%    0.59%  0.14%

                                         LOANS WITH MI
                                             FICOS

              *450   451-500  501-550  551-600  601-650  651-700  701-750  **750
              ------------------------------------------------------------------
        <20
       20-30
       30-40
       40-50
LTVS   50-60
       60-70
       70-80
       80-90
      90-100
       >=100

Please provide a breakdown of percentages for each cell of the matrix for loans
that fall within the appropriate category brokendown between loans with MI and
loans without MI as well as the loan count for each breakdown in the matrices
below. The sum of the percentages for the with MI and without MI percentages
should equal 100%. The sum of the loans in the matrices below should equal the
number of loans in the pool. If FICO is not available for loan, default to <450
bucket. If deal does not have MI, provide data for the entire pool in the "Loans
without MI" matrix.



LOAN COUNT

                                        LOANS WITHOUT MI
                                             FICOS

              *450  451-500  501-550  551-600  601-650  651-700  701-750  **750
              -----------------------------------------------------------------
        <20     --       --        3        1       --        1       --     --
       20-30    --       --        3        1        6        4       --     --
       30-40    --        1        4        5        7        1        2     --
       40-50    --       --       23       24       30        7        2      1
LTVS   50-60    --        2       38       29       35       14        1     --
       60-70    --        1      101       75       50       19        5      1
       70-80    --        3      180      162      152       74       11      5
       80-90    --        4      228      343      793      484      168     58
      90-100    --       --       10      146      245      133       30     13
       >=100    --        2       --       39      227      136       52     12
         #

                                        LOANS WITH MI
                                            FICOS

              *450  451-500  501-550  551-600  601-650  651-700  701-750  **750
              -----------------------------------------------------------------
        <20
       20-30
       30-40
       40-50
LTVS   50-60
       60-70
       70-80
       80-90
      90-100
       >=100



                         # OF                       % OF
                       MORTGAGE                  PRINCIPAL         % OWNER
FIRST LIEN LOANS:        LOANS    PRIN. BALANCE   BALANCE    WAC   OCCUPANCY  %ARM   FICO   CLTV  %FULL DOC  COVERAGE DOWN TO:
------------------------------------------------------------------------------------------------------------------------------

Less than 60.01%          258     42,183,656.62     5.05%   8.127    90.85    76.01   593  48.50    50.89
80.01 TO 85.00%           437     87,800,198.45    10.52%   8.668    87.74    86.37   606  84.51    47.64
With MI:
Without MI:
85.01 TO 90.00%           446     97,982,612.34    11.74%   8.680    85.74    88.93   627  89.55    46.95
With MI:
Without MI:
90.01 TO 95.00%           181     38,622,813.68     4.63%   8.933    76.46    90.85   643  94.64    59.93
With MI:
Without MI:
95.01 TO 100.00%           65     10,245,623.00     1.23%   9.193    97.18    79.12   642  99.53    73.45
With MI:
Without MI:
------------------------------------------------------------------------------------------------------------------------------
   TOTAL (FIRST LIEN)    1387    276,834,904.09     33.16   8.646    86.28    86.05   618  82.78    50.56
------------------------------------------------------------------------------------------------------------------------------


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.





     PRODUCT TYPE       WA IO TERM   NUMBER OF LOANS    LOAN BALANCE    AVG. LOAN BALANCE   % OF TOTAL IO   % OF TOTAL POOL
---------------------------------------------------------------------------------------------------------------------------

 2/28 ARM 24 MONTH IO           24                 2       431,400.00          215,700.00            0.27
 2/28 ARM 36 MONTH IO
 2/28 ARM 60 MONTH IO           60               421   132,088,152.28          313,748.58           81.28             15.82
2/28 ARM 120 MONTH IO          120                 1       186,686.00          186,686.00            0.11              0.02
 3/27 ARM 24 MONTH IO
 3/27 ARM 36 MONTH IO           36                 3       639,500.00          213,166.67            0.39
 3/27 ARM 60 MONTH IO           60                81    22,362,443.82          276,079.55           13.76              2.68
 5/25 ARM 60 MONTH IO           60                 5     1,418,400.00          283,680.00            0.87              0.17
 5/25 ARM 84 MONTH IO                                                                                               #VALUE!
     30 FIXED IO                64                15     4,811,984.77          320,798.98            2.96              0.58
     15 FIXED IO
       OTHER IO                120                 3       569,439.00          189,813.00            0.35              0.07
---------------------------------------------------------------------------------------------------------------------------
        TOTAL:                  60               531   162,508,005.87          306,041.44          100.00             19.46
---------------------------------------------------------------------------------------------------------------------------


     PRODUCT TYPE       WA FICO   WA SS CLTV   % OWNER OCCUPIED   % PURCHASE   % INVESTOR   WA DTI   % FULL DOC
---------------------------------------------------------------------------------------------------------------

 2/28 ARM 24 MONTH IO       606        89.21             100.00        48.77         0.00    29.07        51.23
 2/28 ARM 36 MONTH IO
 2/28 ARM 60 MONTH IO       658        92.82              98.38        62.61         0.50    43.38        37.00
2/28 ARM 120 MONTH IO       641        95.00               0.00       100.00         0.00    46.89       100.00
 3/27 ARM 24 MONTH IO
 3/27 ARM 36 MONTH IO       631        91.16             100.00        35.65         0.00    39.93        35.65
 3/27 ARM 60 MONTH IO       666        91.19              95.77        47.47         3.64    43.30        32.94
 5/25 ARM 60 MONTH IO       686        78.64             100.00        12.69         0.00    42.26        87.31
 5/25 ARM 84 MONTH IO
     30 FIXED IO            655        81.42              93.47        11.32         6.53    41.74        46.70
     15 FIXED IO
       OTHER IO             647        85.99             100.00        72.35         0.00    44.73        27.65
---------------------------------------------------------------------------------------------------------------
        TOTAL:              659        92.10              97.79        58.50         1.10    43.27        37.24
---------------------------------------------------------------------------------------------------------------


PLEASE FILL OUT CHART WITH THE APPROPRIATE CHARACTERISTICS FOR EACH REP LINE.
PLEASE NOTE '% OF TOTAL IO' SHOULD ADD UP TO 100%. COLUMNS G, I, J, L, AND M
REFER TO % WITHIN THE SPECIFIC PRODUCT TYPE SO THEY SHOULD NOT SUM TO 100%.



                                                      INITIAL PERIODIC CAPS
-------------------------------------------------------------------------------------------------------------------------------
     Product Type         1.00%          1.50%           2.00%       2.50%       3.00%       3.50%   4.00%   4.50%      5.00%
-------------------------------------------------------------------------------------------------------------------------------

 2/28 ARM 24 Month IO           --      221,000.00              --      --      210,400.00      --      --      --           --
 2/28 ARM 36 MONTH IO
 2/28 ARM 60 MONTH IO   240,000.00   13,703,550.28   41,213,196.82      --   76,931,405.18      --      --      --           --
2/28 ARM 120 MONTH IO           --              --              --      --              --      --      --      --           --
 3/27 ARM 24 MONTH IO
 3/27 ARM 36 MONTH IO           --              --      228,000.00      --      411,500.00      --      --      --           --
 3/27 ARM 60 MONTH IO           --    4,191,051.14    3,216,688.00      --   14,954,704.68      --      --      --           --
 5/25 ARM 60 MONTH IO           --      607,900.00              --      --      810,500.00      --      --      --           --
 5/25 ARM 84 MONTH IO
       OTHER IO                 --              --              --      --              --      --      --      --   477,439.00
-------------------------------------------------------------------------------------------------------------------------------
        TOTAL:          240,000.00   18,723,501.42   44,657,884.82      --   93,318,509.86      --      --      --   477,439.00
-------------------------------------------------------------------------------------------------------------------------------


PLEASE FILL OUT WITH TOTAL VALUE DOLLARS FOR LOANS IN THE POOL THAT FALL INTO
TEACH CELL OF THE MATRIX.



                                                                                                              % SECOND LIEN
                                                                                                              (SIMULTANEOUS
FICO                    % OF TOTAL DEAL   AVG SS CLTV   MAX LTV   % FULL DOC   % OWNER OCC    WAC    MARGIN     OR SILENT)
---------------------------------------------------------------------------------------------------------------------------

520-539
540-559                           0.03%         51.55     51.55           --            --   9.750    7.750              --
560-579                           0.09%         78.90     80.00        57.75        100.00   7.412    5.257              --
580-599                           0.41%         82.26     88.55        94.72        100.00   7.217    6.299           20.67
600-619                           3.26%         90.24     95.00        58.51        100.00   7.844    6.384           42.06
620-639                           3.67%         90.58     95.00        43.23        100.00   7.860    6.493           54.83
640-659                           3.73%         91.06     95.00        27.37         99.40   7.786    6.365           57.59
660-679                           2.80%         93.95     95.00        24.30         94.42   7.740    6.324           68.26
680-699                           2.19%         94.20     95.00        30.13         96.63   7.739    5.865           68.76
700-719                           1.22%         96.63     94.81        31.70         94.96   7.677    5.873           79.70
720-739                           0.76%         96.29    100.00        47.66         97.92   7.603    6.007           72.28
740-759                           0.48%         96.45     95.00        16.77         85.36   7.532    6.113           78.03
760-779                           0.56%         96.49     86.09        18.43        100.00   7.680    6.397           79.25
780-800                           0.17%         90.54     84.99           --        100.00   7.917    6.711           48.94
800+                              0.07%         80.00     80.00           --        100.00    7.14     6.33              --


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

THE PERCENTAGES PER TABLE SHOULD ADD UP TO 100%

***all figures except balances, FICO, and LTV's are in %***
***%'s taken as % of entire deal ($300,000,000)***

***HELOC Margin is a Weighted Average, Non-HELOC
Margin and FICO are Non-Zero Weighted Averages***

FICO & DOCUMENTATION



FICO SCORE                         FULL DOC  STATED DOC  OTHER DOC  ALL DOCS   WAC   AVG PRIN BAL ($)  CURRENT LTV  IO LOANS
----------------------------------------------------------------------------------------------------------------------------
(FEEL FREE TO DELETE N/A BUCKETS)

0 TO 449
451 TO 500                           0.20%      0.02%      0.02%       0.24%  9.838     152,498.69        72.11       0.00%
501 TO 550                           7.12%      4.45%      0.42%      11.98%  9.395     169,554.23        72.62       0.03%
551 TO 600                          10.06%      7.23%      0.85%      18.14%  8.761     183,577.81        78.97       0.66%
601 TO 650                          15.44%     19.57%      1.89%      36.91%  8.339     199,440.70        81.41       8.52%
651 TO 700                           5.85%     16.19%      0.88%      22.92%  8.110     219,180.83        81.59       7.15%
701 TO 750                           1.83%      5.07%      0.24%       7.14%  8.026     219,887.73        82.81       2.12%
751 TO 800                           0.50%      2.06%      0.00%       2.57%  7.881     254,963.70        81.20       0.91%
801 TO 850                           0.01%      0.09%      0.01%       0.12%  7.833     162,643.31        85.97       0.07%
---------------------------------------------------------------------------------------------------------------------------
TOTAL:                              41.02%     54.68%      4.31%     100.00%  8.458     198,463.11        80.03      19.46%
---------------------------------------------------------------------------------------------------------------------------


LTV & FICO



CURRENT LTV     FICO < 450  450 - 500  501 - 550  551 - 600  601 - 650  651 - 700  701 - 750  751 - 800
-------------------------------------------------------------------------------------------------------
0

00.01 -  10.00
10.01 -  20.00     0.00%      0.00%       0.03%      0.02%      0.02%      0.02%     0.00%      0.00%
20.01 -  30.00     0.00%      0.00%       0.07%      0.01%      0.08%      0.05%     0.00%      0.00%
30.01 -  40.00     0.00%      0.01%       0.09%      0.15%      0.25%      0.02%     0.04%      0.00%
40.01 -  50.00     0.00%      0.00%       0.42%      0.41%      0.49%      0.22%     0.05%      0.02%
50.01 -  60.00     0.00%      0.02%       0.79%      0.64%      0.79%      0.33%     0.04%      0.00%
60.01 -  70.00     0.00%      0.05%       3.02%      1.81%      1.40%      0.76%     0.11%      0.07%
70.01 -  80.00     0.00%      0.14%       5.47%      8.12%     20.49%     14.95%     4.89%      1.99%
80.01 -  90.00     0.00%      0.00%       2.04%      5.87%      9.10%      4.19%     0.78%      0.28%
90.01 - 100.00     0.00%      0.01%       0.05%      1.10%      4.29%      2.38%     1.24%      0.20%
-----------------------------------------------------------------------------------------------------
TOTAL:             0.00%      0.24%      11.98%     18.14%     36.91%     22.92%     7.14%      2.57%
-----------------------------------------------------------------------------------------------------


CURRENT LTV     801 - 850  TOTAL FICO  AVG PRIN BAL ($)   WAC   GROSS MARGIN  LIMITED DOC  STATED DOC  IO LOANS
---------------------------------------------------------------------------------------------------------------
0

00.01 -  10.00
10.01 -  20.00    0.00%        0.08%      100,999.89     8.182      6.339        0.00%        0.07%      0.00%
20.01 -  30.00    0.00%        0.21%      136,616.17     7.541      6.284        0.02%        0.13%      0.01%
30.01 -  40.00    0.00%        0.56%      167,463.66     8.380      6.211        0.00%        0.40%      0.12%
40.01 -  50.00    0.00%        1.61%      156,228.71     8.086      6.333        0.03%        0.62%      0.03%
50.01 -  60.00    0.00%        2.62%      172,428.02     8.143      6.276        0.01%        1.23%      0.24%
60.01 -  70.00    0.00%        7.22%      193,776.89     8.672      6.504        0.33%        3.68%      0.52%
70.01 -  80.00    0.07%       56.13%      228,938.45     8.132      6.347        2.32%       33.55%     14.16%
80.01 -  90.00    0.01%       22.27%      209,857.66     8.676      6.371        1.14%       10.61%      3.62%
90.01 - 100.00    0.03%        9.29%      110,531.03     9.923      6.354        0.46%        4.40%      0.78%
--------------------------------------------------------------------------------------------------------------
TOTAL:            0.12%      100.00%      198,463.11     8.458      6.361        4.31%       54.68%     19.46%
--------------------------------------------------------------------------------------------------------------


PRIN BALANCE & FICO



PRIN BALANCE                       FICO < 450  450 - 500  501 - 550  551 - 600  601 - 650  651 - 700  701 - 750  751 - 800
--------------------------------------------------------------------------------------------------------------------------
(FEEL FREE TO DELETE N/A BUCKETS)

      $1 -  $50,000                   0.00%      0.01%       0.07%      0.13%      0.53%      0.27%     0.07%      0.03%
 $50,001 - $100,000                   0.00%      0.02%       1.12%      1.51%      2.66%      1.27%     0.40%      0.10%
$100,001 - $150,000                   0.00%      0.06%       2.50%      3.09%      4.25%      2.08%     0.51%      0.17%
$150,001 - $200,000                   0.00%      0.04%       2.62%      3.19%      4.62%      2.92%     0.98%      0.23%
$200,001 - $250,000                   0.00%      0.00%       1.81%      2.70%      5.10%      3.10%     0.99%      0.27%
$250,001 - $300,000                   0.00%      0.03%       1.48%      2.03%      4.85%      1.99%     0.72%      0.24%
$300,001 - $350,000                   0.00%      0.08%       0.93%      1.73%      3.35%      2.20%     0.73%      0.28%
$350,001 - $400,000                   0.00%      0.00%       0.64%      0.81%      2.24%      2.47%     1.00%      0.18%
$400,001 - $450,000                   0.00%      0.00%       0.36%      1.03%      2.59%      1.82%     0.20%      0.21%
$450,001 - $500,000                   0.00%      0.00%       0.12%      0.68%      2.47%      1.33%     0.67%      0.29%
$500,001 - $550,000                   0.00%      0.00%       0.06%      0.32%      1.33%      0.93%     0.19%      0.18%
$550,001 - $600,000                   0.00%      0.00%       0.20%      0.42%      0.76%      1.17%     0.21%      0.07%
$600,001 - $650,000                   0.00%      0.00%       0.08%      0.08%      0.68%      0.30%     0.30%      0.07%
$650,001 - $700,000                   0.00%      0.00%       0.00%      0.24%      0.16%      0.49%     0.08%      0.16%
$700,001 - $750,000                   0.00%      0.00%       0.00%      0.18%      0.79%      0.26%     0.00%      0.00%
$750,001 >=                           0.00%      0.00%       0.00%      0.00%      0.53%      0.31%     0.09%      0.09%
------------------------------------------------------------------------------------------------------------------------
TOTAL:                                0.00%      0.24%      11.98%     18.14%     36.91%     22.92%     7.14%      2.57%
------------------------------------------------------------------------------------------------------------------------


PRIN BALANCE                       801 - 850  TOTAL FICO  CURRENT LTV    WAC   GROSS MARGIN  LIMITED DOC  STATED DOC  IO LOANS
------------------------------------------------------------------------------------------------------------------------------
(FEEL FREE TO DELETE N/A BUCKETS)


      $1 -  $50,000                  0.00%        1.11%      93.56     11.173      6.516        0.09%        0.61%      0.00%
 $50,001 - $100,000                  0.03%        7.12%      83.66      9.631      6.647        0.21%        3.21%      0.11%
$100,001 - $150,000                  0.01%       12.67%      78.92      8.900      6.495        0.50%        5.28%      0.55%
$150,001 - $200,000                  0.00%       14.60%      78.07      8.549      6.429        0.43%        6.94%      1.76%
$200,001 - $250,000                  0.00%       13.96%      79.07      8.348      6.404        0.54%        7.79%      2.70%
$250,001 - $300,000                  0.03%       11.37%      79.39      8.186      6.472        0.39%        5.97%      2.47%
$300,001 - $350,000                  0.00%        9.30%      79.86      8.182      6.275        0.47%        6.04%      1.88%
$350,001 - $400,000                  0.04%        7.38%      79.80      8.094      6.199        0.31%        4.84%      2.56%
$400,001 - $450,000                  0.00%        6.20%      81.12      8.045      6.364        0.36%        4.07%      1.88%
$450,001 - $500,000                  0.00%        5.56%      80.61      8.045      6.359        0.40%        3.45%      2.01%
$500,001 - $550,000                  0.00%        3.01%      81.85      7.961      5.897        0.32%        1.68%      1.31%
$550,001 - $600,000                  0.00%        2.83%      80.97      8.150      6.095        0.20%        1.74%      0.76%
$600,001 - $650,000                  0.00%        1.50%      83.67      8.355      6.107        0.00%        1.12%      0.67%
$650,001 - $700,000                  0.00%        1.13%      78.18      7.845      6.315        0.00%        0.64%      0.40%
$700,001 - $750,000                  0.00%        1.23%      81.99      8.382      5.947        0.09%        0.70%      0.00%
$750,001 >=                          0.00%        1.03%      82.27      8.240      6.037        0.00%        0.58%      0.41%
-----------------------------------------------------------------------------------------------------------------------------
TOTAL:                               0.12%      100.00%      80.03      8.458      6.361        4.31%       54.68%     19.46%
-----------------------------------------------------------------------------------------------------------------------------




PREPAYMENT PENALTY & FICO



PREPAY PENALTY TERM    FICO < 450  450 - 500  501 - 550  551 - 600  601 - 650  651 - 700  701 - 750  751 - 800
----------------------------------------------------------------------------------------------------------------
(whatever increments)

0                         0.00%      0.02%       3.45%      5.19%      9.16%      5.46%     2.17%      0.54%
6                         0.00%      0.00%       0.10%      0.02%      0.03%      0.22%     0.05%      0.00%
12                        0.00%      0.02%       0.51%      1.10%      2.94%      2.11%     1.02%      0.45%
18
24                        0.00%      0.16%       4.51%      7.53%     18.06%     10.49%     2.56%      1.23%
30                        0.00%      0.00%       0.03%      0.03%      0.09%      0.02%     0.00%      0.00%
36                        0.00%      0.04%       2.99%      4.06%      6.40%      4.49%     1.33%      0.34%
42
48                        0.00%      0.00%       0.02%      0.00%      0.00%      0.00%     0.00%      0.00%
60                        0.00%      0.00%       0.38%      0.21%      0.23%      0.12%     0.01%      0.00%
----------------------------------------------------------------------------------------------------------------
TOTAL:                    0.00%      0.24%      11.98%     18.14%     36.91%     22.92%     7.14%      2.57%
----------------------------------------------------------------------------------------------------------------


PREPAY PENALTY TERM    801 - 850  TOTAL FICO  CURRENT LTV   WAC   GROSS MARGIN  AVG PRIN BAL ($)  LIMITED DOC  STATED DOC  IO LOANS
-----------------------------------------------------------------------------------------------------------------------------------
(whatever increments)

0                        0.01%       25.99%      80.79     8.805      6.198        180,966.97        1.04%       13.80%      3.71%
6                        0.00%        0.42%      77.59     8.529      4.908        232,647.39        0.00%        0.35%      0.14%
12                       0.01%        8.16%      78.50     8.285      6.178        287,628.84        0.31%        5.15%      1.78%
18
24                       0.10%       44.64%      80.01     8.235      6.420        221,598.55        2.11%       25.18%     10.68%
30                       0.00%        0.17%      82.27     9.452      7.202        200,992.45        0.02%        0.12%      0.02%
36                       0.00%       19.66%      79.98     8.550      6.592        163,011.52        0.78%        9.77%      3.06%
42
48                       0.00%        0.02%      36.49     8.500         --        145,963.85        0.00%        0.02%      0.00%
60                       0.00%        0.94%      76.43     8.849      5.531        133,269.15        0.05%        0.28%      0.07%
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL:                   0.12%      100.00%      80.03     8.458      6.361        198,463.11        4.31%       54.68%     19.46%
-----------------------------------------------------------------------------------------------------------------------------------


MORTG RATES & FICO



MORTG RATES      FICO < 450  450 - 500  501 - 550  551 - 600  601 - 650  651 - 700  701 - 750  751 - 800
----------------------------------------------------------------------------------------------------------

 0.001 -  5.000
 5.001 -  5.500
 5.501 -  6.000     0.00%      0.00%       0.00%      0.00%      0.07%      0.04%     0.13%      0.00%
 6.001 -  6.500     0.00%      0.00%       0.02%      0.15%      0.62%      0.69%     0.22%      0.12%
 6.501 -  7.000     0.00%      0.00%       0.08%      0.53%      2.92%      2.43%     0.96%      0.22%
 7.001 -  7.500     0.00%      0.00%       0.18%      0.96%      5.24%      3.86%     1.23%      0.54%
 7.501 -  8.000     0.00%      0.00%       1.03%      3.40%      8.95%      6.42%     1.65%      0.96%
 8.001 -  8.500     0.00%      0.00%       0.77%      3.04%      5.96%      3.78%     0.82%      0.27%
 8.501 -  9.000     0.00%      0.03%       2.57%      3.92%      5.76%      2.35%     0.99%      0.16%
 9.001 -  9.500     0.00%      0.01%       1.93%      2.09%      2.66%      1.41%     0.53%      0.13%
 9.501 - 10.000     0.00%      0.13%       3.01%      2.12%      2.01%      0.66%     0.26%      0.02%
10.001 - 10.500     0.00%      0.03%       0.94%      0.92%      0.69%      0.16%     0.09%      0.00%
10.501 - 11.000     0.00%      0.02%       0.87%      0.65%      0.56%      0.32%     0.15%      0.10%
11.001 - 11.500     0.00%      0.00%       0.37%      0.18%      0.21%      0.22%     0.09%      0.03%
11.501 >=           0.00%      0.00%       0.23%      0.17%      1.25%      0.59%     0.01%      0.00%
----------------------------------------------------------------------------------------------------------
TOTAL:              0.00%      0.24%      11.98%     18.14%     36.91%     22.92%     7.14%      2.57%
----------------------------------------------------------------------------------------------------------


MORTG RATES      801 - 850  TOTAL FICO  CURRENT LTV    WAC   GROSS MARGIN  AVG PRIN BAL ($)  LIMITED DOC  STATED DOC  IO LOANS
------------------------------------------------------------------------------------------------------------------------------

 0.001 -  5.000
 5.001 -  5.500
 5.501 -  6.000    0.00%        0.23%      75.99      5.939      4.435        322,304.05        0.00%        0.03%      0.07%
 6.001 -  6.500    0.04%        1.87%      74.40      6.349      5.759        294,173.16        0.00%        0.32%      0.78%
 6.501 -  7.000    0.00%        7.15%      76.22      6.870      5.761        262,964.71        0.67%        2.21%      2.80%
 7.001 -  7.500    0.01%       12.02%      78.20      7.313      6.056        255,394.05        0.74%        5.27%      4.32%
 7.501 -  8.000    0.00%       22.41%      79.20      7.816      6.218        248,460.46        0.78%       12.60%      5.57%
 8.001 -  8.500    0.03%       14.67%      79.73      8.289      6.536        223,922.11        0.53%        8.74%      2.81%
 8.501 -  9.000    0.00%       15.78%      79.46      8.796      6.494        192,895.20        0.61%        9.43%      1.62%
 9.001 -  9.500    0.01%        8.77%      81.20      9.288      6.752        196,830.91        0.35%        5.83%      0.98%
 9.501 - 10.000    0.00%        8.23%      81.51      9.802      6.605        161,979.10        0.25%        4.74%      0.43%
10.001 - 10.500    0.02%        2.85%      84.17     10.296      6.735        133,595.10        0.13%        1.61%      0.07%
10.501 - 11.000    0.00%        2.67%      86.20     10.779      6.775        109,957.83        0.15%        1.49%      0.01%
11.001 - 11.500    0.00%        1.10%      85.94     11.262      6.750        100,810.02        0.02%        0.65%      0.00%
11.501 >=          0.00%        2.26%      95.93     12.156      6.472         68,041.84        0.07%        1.75%      0.00%
------------------------------------------------------------------------------------------------------------------------------
TOTAL:             0.12%      100.00%      80.03      8.458      6.361        198,463.11        4.31%       54.68%     19.46%
------------------------------------------------------------------------------------------------------------------------------


MORTG RATES AND LTV



MORTG RATES      LTV 40.01 - 50  50.01 - 60  60.01 - 70  70.01 - 80  80.01 - 90  90.01 - 100   100+  TOTAL LTV
----------------------------------------------------------------------------------------------------------------

 0.001 -  5.000
 5.001 -  5.500
 5.501 -  6.000       0.00%         0.07%       0.00%       0.03%       0.13%       0.00%     0.00%     0.23%
 6.001 -  6.500       0.17%         0.08%       0.18%       1.08%       0.26%       0.07%     0.00%     1.87%
 6.501 -  7.000       0.13%         0.39%       0.53%       5.08%       0.91%       0.00%     0.00%     7.15%
 7.001 -  7.500       0.21%         0.29%       0.86%       8.18%       1.83%       0.44%     0.00%    12.02%
 7.501 -  8.000       0.29%         0.59%       0.98%      15.75%       3.88%       0.80%     0.00%    22.41%
 8.001 -  8.500       0.15%         0.28%       0.94%       9.50%       2.99%       0.74%     0.00%    14.67%
 8.501 -  9.000       0.40%         0.42%       1.26%       8.11%       4.17%       1.24%     0.00%    15.78%
 9.001 -  9.500       0.14%         0.14%       0.51%       3.92%       3.27%       0.72%     0.00%     8.77%
 9.501 - 10.000       0.09%         0.23%       1.00%       2.71%       2.94%       1.23%     0.00%     8.23%
10.001 - 10.500       0.00%         0.06%       0.30%       0.96%       0.93%       0.60%     0.00%     2.85%
10.501 - 11.000       0.02%         0.05%       0.31%       0.57%       0.78%       0.95%     0.00%     2.67%
11.001 - 11.500       0.01%         0.02%       0.26%       0.10%       0.08%       0.60%     0.00%     1.10%
11.501 >=             0.00%         0.01%       0.08%       0.13%       0.11%       1.90%     0.00%     2.26%
----------------------------------------------------------------------------------------------------------------
TOTAL:                1.61%         2.62%       7.22%      56.13%      22.27%       9.29%     0.00%   100.00%
----------------------------------------------------------------------------------------------------------------


MORTG RATES      AVG FICO  GROSS MARGIN  AVG PRIN BAL ($)  LIMITED DOC  STATED DOC  IO LOANS
--------------------------------------------------------------------------------------------

 0.001 -  5.000
 5.001 -  5.500
 5.501 -  6.000     684        4.435        322,304.05        0.00%        0.03%      0.07%
 6.001 -  6.500     664        5.759        294,173.16        0.00%        0.32%      0.78%
 6.501 -  7.000     656        5.761        262,964.71        0.67%        2.21%      2.80%
 7.001 -  7.500     652        6.056        255,394.05        0.74%        5.27%      4.32%
 7.501 -  8.000     642        6.218        248,460.46        0.78%       12.60%      5.57%
 8.001 -  8.500     631        6.536        223,922.11        0.53%        8.74%      2.81%
 8.501 -  9.000     610        6.494        192,895.20        0.61%        9.43%      1.62%
 9.001 -  9.500     607        6.752        196,830.91        0.35%        5.83%      0.98%
 9.501 - 10.000     580        6.605        161,979.10        0.25%        4.74%      0.43%
10.001 - 10.500     580        6.735        133,595.10        0.13%        1.61%      0.07%
10.501 - 11.000     596        6.775        109,957.83        0.15%        1.49%      0.01%
11.001 - 11.500     606        6.750        100,810.02        0.02%        0.65%      0.00%
11.501 >=           624        6.472         68,041.84        0.07%        1.75%      0.00%
--------------------------------------------------------------------------------------------
TOTAL:              626        6.361        198,463.11        4.31%       54.68%     19.46%
--------------------------------------------------------------------------------------------


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.




INSTRUCTIONS: PLEASE ALSO PROVIDE INFO ON CONFORMING AND NON-CONFORMING POOL
(CELLS HAVE ALREADY BEEN FORMATTED IN COLUMN B, C, D, E)

                           aggregate pool
                           --------------
gross WAC                         8.458
wtd avg FICO                        626
FICO < 600                        29.71
FICO 600-650                      37.56
wtd avg LTV                       80.13
LTV = 80                          43.05
LTV > 80                          31.56
LTV 95.01-100                      4.59
Full Doc (%)                      41.02
Stated Doc (%)                    54.68
Purchase (%)                      42.77
CO refi (%)                       52.45
Own Occ (%)                       92.54
Prepay Penalty (%)                74.01
DTI (%)                           42.79
ARM ? (%)                         86.80
2/28 (%)                          68.72
3/27 (%)                          17.44
1st Lien (%)                      96.51
Avg Loan Balance                198,463
# of Loans                        4,207
Loan Bal < $100k                   8.23
Mtg Rates > 12%                    0.95
Manuf Housing (%)                  0.00
IO loans (%)                      19.46
5yr IO                            19.21
2yr IO                             0.05
NZ IO:Fico                          659
IO: LTV                           80.60
IO: DTI                           43.27
IO: Full Doc                       7.25
(%) & largest state code       CA(32.46%)
IO: Purch                         11.39
DTI Bucket:
    <35%                          14.36
   35-40%                         12.53
   40-45%                         27.85
   45-50%                         35.41
   50-55%                          8.91
    55+%                           0.94

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
`Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriter will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayer's particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of this
e-mail or at the bottom of the e-mail communication to which this material may
have been attached are not applicable to these materials and should be
disregarded. Such legends, disclaimers or other notices have been automatically
generated as a result of these materials having been sent via Bloomberg or
another email system.



Deal Name        IXIS 2006-HE3
Closing Date
First Pay Date
Trustee



                         FIXED 1ST LIEN   FIXED 2ND LIEN   ARM NON-IO     ARM IO        TOTAL
                         --------------   --------------   ----------   ----------   -----------

% of Pool                        9.70             3.49          67.91        18.89        100.00
GWAC                            8.266           11.483          8.521        7.771         8.458
NWAC                            7.746           10.963          8.001        7.251         7.938
WALA                                3                4              3            3             3

Avg Loan Bal               155,212.42        63,421.28     209,318.42   305,612.44    198,463.11
Curr Bal <=50k                   1.36            24.18           0.20         0.00          1.11
Curr Bal >50k <100k             16.21            47.35           5.56         0.60          7.12
Curr Bal >500k                   6.90             0.00           9.67        18.47         10.73

WA FICO                           622              657            616          659           626
FICO N/A                         0.00             0.00           0.00         0.00          0.00
FICO 500 to < 550               15.38             0.25          15.45         0.14         12.02
FICO 550 to < 600               17.99             2.80          22.61         2.62         17.69
FICO 600 to < 650               34.95            47.36          34.78        44.37         37.05

WACLTV                          76.64            99.52          79.48        80.70         80.13
CLTV >80%                       35.16            98.98          29.97        22.97         31.56
CLTV >90%                        7.00            98.46           6.48         4.11          9.29
CLTV >100%                       0.00             0.00           0.00         0.00          0.00

% w Silent Seconds              11.94             0.00          32.79        59.68         34.70
CLTV w SS                       78.75            99.52          85.76        92.42         86.82
CLTV w SS >80%                  45.72            98.98          61.09        81.53         64.78
CLTV w SS >90%                  17.06            98.46          38.43        63.37         43.16
CLTV w SS >100%                  0.00             0.00           0.00         0.00          0.00

% Balloon                       18.47            81.15          45.51         0.00         35.54
% Fixed                        100.00           100.00           0.00         0.00         13.20
% ARMs                           0.00             0.00         100.00       100.00         86.80
% IOs                            5.94             0.00           0.00       100.00         19.46
% 2nds                           0.00           100.00           0.00         0.00          3.49

Purchase                        12.35            87.82          40.03        59.94         42.77
C/O Refi                        75.08            11.47          55.65        36.88         52.45
R/T Refi                        12.57             0.70           4.32         3.18          4.78

SFR                             82.20            77.58          78.14        75.74         78.06
2-4 Family                      11.70             9.56           9.39         7.96          9.35
PUD                              3.52             5.20           6.45         7.69          6.36
CONDO                            2.59             7.67           6.02         8.61          6.23
MH                               0.00             0.00           0.00         0.00          0.00

Primary                         92.96            99.38          90.62        97.93         92.54
Secondary                        0.18             0.50           1.86         1.14          1.52
Investor                         6.85             0.12           7.51         0.93          5.95

Full Doc                        59.87            22.77          40.39        36.95         41.02
Stated Doc                      36.22            70.54          55.80        57.18         54.68
Limited Doc                      3.91             6.70           3.81         5.87          4.31
No Doc                           0.00             0.00           0.00         0.00          0.00

WA Rem Term                       348              208            357          357           351
WA Margin                       0.000            0.000          6.384        6.280         6.361
WA Initial Cap                  0.000            0.000          2.488        2.547         2.501
WA Periodic Cap                 0.000            0.000          1.349        1.341         1.347
WA Ceiling                      0.000            0.000         15.228       14.508        15.071

CA%                             14.11            51.50          27.62        55.79         32.46
% 0-29 Days Delinquent           0.00             0.00           0.00         0.00          0.00
WA DTI                          41.17            43.71          42.82        43.31         42.79


ORIGINATORS        % Bal.   WA CLTV   WA FICO   % 2nd Lien    % IO
-----------        ------   -------   -------   ----------   -----
Accredited          12.16    77.27      621         0.00     12.89
Chapel               0.48    77.17      617         1.20     47.20
Encore               9.80    78.88      628         0.13     16.96
First Banc           1.51    79.62      615         6.58     43.84
First Horizon        3.85    84.05      623         0.00     16.10
First NLC           39.01    80.80      626         4.93     18.86
Flex Point           0.58    70.12      598         0.00     15.16
Funding America      0.72    81.43      631        16.59     20.80
Lenders Direct       1.05    80.22      624        12.71     20.91
Lime Financial       1.52    84.47      640         7.72     35.02
Mandalay             0.65    85.28      667        27.11     35.25
Master Financial     5.96    83.97      638        11.37     23.92
Maxim                0.21    84.37      600        12.01      0.00
New Century         16.42    80.03      631         0.47     23.04
Quick Loan           1.02    72.46      588         0.00     11.00
Rose Mortgage        5.07    77.92      613         2.51     16.43
Total:             100.00    80.13      626         3.49     19.46

SERVICER           % Bal.   WA CLTV   WA FICO   % 2nd Lien    % IO
--------           ------   -------   -------   ----------   -----
Master Financial     5.96    83.97      638        11.37     23.92
Saxon               94.04    79.89      625         2.99     19.18
Total:             100.00    80.13      626         3.49     19.46



                                                                                                         % Stated  % Stated  % Other
IO LOANS       % Bal.   WAC   WA CLTV  WA CLTV w SS   WA FICO  FICO <600  FICO <550  % Investor  % Full     W/E       S/E      Doc
-------------  ------  -----  -------  ------------  --------  ---------  ---------  ----------  ------  --------  --------  -------

2yr IO Term      0.27  7.225    79.45         89.21       606      51.23       0.00        0.00   51.23     48.77      0.00     0.00
3yr IO Term      0.39  7.938    77.28         91.16       631       0.00       0.00        0.00   35.65     30.57     33.78     0.00
5yr IO Term     98.67  7.764    80.61         92.15       659       2.71       0.13        1.11   37.04     33.96     23.22     5.77
Other IO Term    0.67  7.638    81.43         85.70       643       0.00       0.00        0.00   62.10     37.90      0.00     0.00
Total          100.00  7.762    80.60         92.10       659       2.81       0.13        1.10   37.24     34.02     23.05     5.69


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the inf ormation
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriter will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayer's particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of this
e-mail or at the bottom of the e-mail communication to which this material may
have been attached are not applicable to these materials and should be
disregarded. Such legends, disclaimers or other notices have been automatically
generated as a result of these materials having been sent via Bloomberg or
another email system.



IO FICO

<500                             0.00%
<550                             0.03%
<575                             0.06%
<600                             0.55%
<650                             9.10%
>700                             3.11%

FULL DOC FICO

<500                             0.00%
<550                             7.20%
<575                            11.44%
<600                            16.98%
<650                            32.72%
>700                             2.34%

NON-FULL DOC FICO

<500                             0.00%
<550                             4.81%
<575                             8.09%
<600                            12.72%
<650                            34.04%
>700                             7.47%

DTI >45% FICO

<500                             0.00%
<550                             5.20%
<575                             8.42%
<600                            13.12%
<650                            30.79%
>700                             3.89%

WA LTV

>80                             28.10%
>90                              5.85%
>95                              1.23%

WA CLTV

>80                             31.56%
>90                              9.29%
>95                              4.59%

CLTV

Full Doc                         80.02
Non-Full Doc                     80.21
Total                            80.13

CLTV

FICO <500                         0.00
500 < FICO < 600                 76.50
600 < FICO < 650                 81.51

IO CLTV

>80                              4.40%
>90                              0.78%
>95                              0.04%

FULL DOC CLTV

>80                             14.95%
>90                              4.43%
>95                              1.64%

NON FULL DOC CLTV

>80                             16.61%
>90                              4.86%
>95                              2.95%

DTI >45% CLTV

>80                             14.35%
>90                              4.64%
>95                              2.23%

INVESTOR PROP CLTV

>80                              3.62%
>90                              0.87%
>95                              0.00%

IO TERM

24                               0.05%
36                               0.08%
60                              19.21%
Other IO                         0.13%

LOAN BALANCE

<80,000                          4.78%
>100,000                        91.77%

MSA MAXIMUM CONCENTRATION

SINGLE FAMILY                   78.06%
2-4 FAMILY                       9.35%
CONDO                            6.23%
CO-OP
PUD                              6.36%
MH

OWNER                           92.54%
2ND HOME                         1.52%
INVESTOR                         5.95%

REFINANCE                        4.78%
CASH OUT                        52.45%
PURCHASE                        42.77%

FULL DOC                        41.02%
REDUCED DOC                     58.98%
NO DOC

WA DTI

>40%                            73.09%
>45%                            45.22%

% FIXED                         13.20%
% IO                            19.46%
% 40YR                           0.00%

% 2ND LIEN                       3.49%
% SILENT 2ND LIENS              34.70%

STATE 1                            CA
STATE 1 %                       32.46%
STATE 2                            FL
STATE 2 %                       14.27%
STATE 3                            IL
STATE 3 %                        6.86%
STATE 4                            NY
STATE 4%                         5.00%

ORIGINATOR 1                First NLC
ORIGINATOR 1 %                  39.01%
ORIGINATOR 2              New Century
ORIGINATOR 2 %                  16.42%
ORIGINATOR 3               Accredited
ORIGINATOR 3%                   12.16%

SERVICER 1                      Saxon
SERVICER 1 %                    94.04%
SERVICER 2           Master Financial
SERVICER 2 %                     5.96%
SERVICER 3
SERVICER 3%

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
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FICO

FICO median               624
FICO weighted average     626
FICO stdev                 59

LTV

LTV median              80.00
LTV weighted average    80.13
LTV stdev               12.46

STRESS RUNS:

For Aa1, Baa1 and Baa2 tranches:

FORWARD LIBOR           75%   100%   125%
- 100 BPS               PPC    PPC    PPC
-------------           ---   ----   ----
BREAK CDR
CUM COLLATERAL LOSSES
WAL
DM

                        75%   100%   125%
FORWARD LIBOR           PPC    PPC    PPC
-------------           ---   ----   ----
BREAK CDR
CUM COLLATERAL LOSSES
WAL
DM

FORWARD LIBOR           75%   100%   125%
+ 100 BPS               PPC    PPC    PPC
-------------           ---   ----   ----
BREAK CDR
CUM COLLATERAL LOSSES
WAL
DM

FORWARD LIBOR           75%   100%   125%
+ 200 BPS               PPC    PPC    PPC
-------------           ---   ----   ----
BREAK CDR
CUM COLLATERAL LOSSES
WAL
DM

ASSUMPTIONS:

failing triggers
40% loss severity
6 month lag in recoveries

STRATS:

1. LOANS SUBJECT TO SILENT SECONDS



Original Balance                         Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00
25,000.01 - 50,000.00                        2          98000.00        0.03    578    9.913             0.00    80.00
50,000.01 - 75,000.00                       61        3981010.00        1.37    617    8.820             0.03    80.27
75,000.01 - 100,000.00                      90        7844585.00        2.71    624    8.844             0.21    81.50
100,000.01 - 125,000.00                    118       13347093.00        4.60    634    8.448             0.23    81.06
125,000.01 - 150,000.00                    116       16010654.00        5.52    645    8.234             0.76    80.46
150,000.01 - 175,000.00                     92       14911242.00        5.14    647    8.167             0.95    81.08
175,000.01 - 200,000.00                    117       21920150.00        7.56    655    8.141             2.50    80.26
200,000.01 - 225,000.00                     92       19580223.00        6.75    659    8.016             1.62    79.86
225,000.01 - 250,000.00                     75       17802340.00        6.14    656    7.816             2.62    80.00
250,000.01 - 275,000.00                     67       17502774.00        6.04    655    7.912             2.54    80.52
275,000.01 - 300,000.00                     58       16590800.00        5.72    660    8.009             1.56    80.12
300,000.01 - 325,000.00                     44       13725675.00        4.73    662    7.752             1.18    80.22
325,000.01 - 350,000.00                     33       11119670.00        3.83    665    7.960             1.52    80.00
350,000.01 - 375,000.00                     41       14812340.00        5.11    667    7.876             2.49    79.87
375,000.01 - 400,000.00                     44       17168199.00        5.92    669    7.832             2.83    79.06
400,000.01 - 425,000.00                     30       12467250.00        4.30    660    7.930             2.00    80.00
425,000.01 - 450,000.00                     28       12297940.00        4.24    655    7.689             1.67    79.98
450,000.01 - 475,000.00                     23       10615700.00        3.66    675    8.047             1.12    80.49
475,000.01 - 500,000.00                     28       13778297.00        4.75    653    7.891             2.36    78.41
500,000.01 >=                               58       34415456.00       11.87    674    7.894             4.79    80.14
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289989398.00      100.00    658    8.011            32.98    80.13
                                          ====      ============      ======    ===    =====            =====    =====




current balance                          Count       Balance       % Balance   FICO     WAC          IO%          LTV
---------------                          -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00
25,000.01 - 50,000.00                        2          97824.72        0.03    578    9.913             0.00    80.00
50,000.01 - 75,000.00                       61        3974251.35        1.37    617    8.821             0.03    80.27
75,000.01 - 100,000.00                      92        8033290.09        2.77    625    8.818             0.21    81.47
100,000.01 - 125,000.00                    116       13122372.32        4.53    634    8.459             0.23    81.08
125,000.01 - 150,000.00                    116       15985871.44        5.52    645    8.234             0.76    80.46
150,000.01 - 175,000.00                     92       14892624.10        5.14    647    8.167             0.95    81.08
175,000.01 - 200,000.00                    117       21899939.16        7.56    655    8.141             2.50    80.26
200,000.01 - 225,000.00                     92       19555968.70        6.75    659    8.016             1.62    79.86
225,000.01 - 250,000.00                     76       18037448.07        6.23    655    7.811             2.62    80.00
250,000.01 - 275,000.00                     66       17236771.72        5.95    655    7.918             2.54    80.53
275,000.01 - 300,000.00                     58       16578081.17        5.72    660    8.009             1.57    80.12
300,000.01 - 325,000.00                     44       13712890.03        4.73    662    7.752             1.19    80.22
325,000.01 - 350,000.00                     34       11462327.32        3.96    666    7.946             1.52    80.00
350,000.01 - 375,000.00                     40       14452490.43        4.99    666    7.886             2.50    79.87
375,000.01 - 400,000.00                     44       17158114.26        5.92    669    7.833             2.83    79.06
400,000.01 - 425,000.00                     30       12457483.27        4.30    660    7.930             2.00    80.00
425,000.01 - 450,000.00                     28       12286753.42        4.24    655    7.690             1.67    79.98
450,000.01 - 475,000.00                     23       10605711.36        3.66    675    8.046             1.12    80.49
475,000.01 - 500,000.00                     28       13765149.33        4.75    653    7.892             2.37    78.41
500,000.01 >=                               58       34391837.90       11.87    674    7.894             4.79    80.14
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




gross coupon                             Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

5.00001 - 6.00000                            1         266038.00        0.09    707    5.925             0.09    80.00
6.00001 - 7.00000                          111       31775164.88       10.97    665    6.791             5.48    79.98
7.00001 - 8.00000                          533      136871883.96       47.24    665    7.633            17.74    79.88
8.00001 - 9.00000                          393       90330013.72       31.18    652    8.489             7.59    79.97
9.00001 - 10.00000                         135       26058701.39        8.99    644    9.408             2.11    81.31
10.00001 - 11.00000                         39        3739381.48        1.29    574   10.435             0.00    85.27
11.00001 - 12.00000                          5         666016.73        0.23    529   11.397             0.00    85.78
12.00001 - 13.00000
13.00001 - 14.00000
14.00001 - 15.00000
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




remaining term                           Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

161 - 180                                    1          99888.94        0.03    692    7.600             0.00    80.00
221 - 240                                    1          64342.50        0.02    661    7.390             0.00    71.10
281 - 300
341 - 360                                 1215      289542968.72       99.94    658    8.011            33.01    80.13
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




LTV                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 10.00
10.01 - 20.00
20.01 - 30.00
30.01 - 40.00
40.01 - 50.00                                1         399474.92        0.14    661    8.125             0.00    49.38
50.01 - 60.00                                1         233539.09        0.08    564    8.140             0.00    60.00
60.01 - 70.00                                2         597135.31        0.21    662    7.496             0.13    69.11
70.01 - 80.00                             1141      276750435.70       95.53    659    7.953            32.10    79.89
80.01 - 90.00                               66       10721529.76        3.70    616    9.364             0.72    87.21
90.01 - 100.00                               6        1005085.38        0.35    594    9.695             0.06    94.88
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




Loan Purpose                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Purchase                                  1003      236420664.52       81.61    660    8.034            27.39    80.21
Refinance - Rate Term                       27        4857432.65        1.68    643    7.762             0.41    79.82
Refinance - Cashout                        187       48429102.99       16.72    645    7.922             5.22    79.76
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




Doc                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

Full                                       469       92821538.25       32.04    633    7.745            11.46    80.39
Alternative
Limited                                     40       12538806.10        4.33    635    7.681             2.15    79.92
Lite
Stated                                     708      184346855.81       63.63    671    8.167            19.41    80.01
No Ratio
No Doc
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




Product Type                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Fixed - 15 Year                              1          99888.94        0.03    692    7.600             0.00    80.00
Fixed - 20 Year                              1          64342.50        0.02    661    7.390             0.00    71.10
Fixed - 30 Year                             38        5169556.19        1.78    634    8.253             0.00    77.62
Interest Only Fixed - 30 Year                5        1527800.00        0.53    663    8.103             0.53    81.98
Balloon - 30/40                             11        2815920.26        0.97    657    7.988             0.00    80.76
ARM - 2 Year/6 Month                       356       65745338.32       22.69    649    8.256             0.00    80.41
ARM - 3 Year/6 Month                       109       16822485.05        5.81    633    8.714             0.00    81.21
ARM - 5 Year/6 Month                         2         529701.18        0.18    587    8.402             0.00    76.47
ARM - 2 Year/6 Month - Balloon - 30/40     315       87890156.09       30.34    661    7.936             0.00    80.07
ARM - 3 Year/6 Month - Balloon - 30/40      63       14585050.36        5.03    656    8.088             0.00    80.10
ARM - 2 Year/6 Month - Balloon - 30/50       1         203934.59        0.07    625    8.450             0.00    80.00
Interest Only Arm - 2 Year/6 Month         263       81266399.54       28.05    666    7.753            28.05    79.88
Interest Only Arm - 3 Year/6 Month          50       12671145.75        4.37    675    7.778             4.37    80.19
Interest Only Arm - 5 Year/6 Month           1         180000.00        0.06    700    7.500             0.06    80.00
Dual Amort - 10/40 - 2 Year/6 Month          1         135481.39        0.05    657    6.700             0.00    80.00
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====




Occupancy                                Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---------                                -----   ---------------   ---------   ----   ------   --------------   ------

Primary                                   1180      282586744.77       97.54    657    7.995            32.58    80.09
Second Home                                 22        5159136.51        1.78    683    8.474             0.44    80.09
Investment                                  15        1961318.88        0.68    640    9.128             0.00    85.95
                                          ----      ------------      ------    ---    -----            -----    -----
Total:                                    1217      289707200.16      100.00    658    8.011            33.01    80.13
                                          ====      ============      ======    ===    =====            =====    =====


2. IO LOANS



Original Balance                         Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00
25,000.01 - 50,000.00
50,000.01 - 75,000.00                        1   $     72,800.00        0.04    630    9.590             0.04    80.00
75,000.01 - 100,000.00                      10   $    879,010.00        0.54    627    7.859             0.54    79.31
100,000.01 - 125,000.00                     16   $  1,805,809.00        1.11    660    8.123             1.11    74.02
125,000.01 - 150,000.00                     20   $  2,755,526.00        1.70    658    7.876             1.70    78.86
150,000.01 - 175,000.00                     25   $  4,068,440.00        2.50    672    7.825             2.50    80.95
175,000.01 - 200,000.00                     57   $ 10,630,053.00        6.54    663    7.965             6.54    79.42
200,000.01 - 225,000.00                     51   $ 10,935,590.00        6.73    650    7.805             6.73    80.18
225,000.01 - 250,000.00                     49   $ 11,603,522.00        7.14    648    7.736             7.14    78.70
250,000.01 - 275,000.00                     40   $ 10,544,250.00        6.49    663    7.794             6.49    80.79
275,000.01 - 300,000.00                     35   $ 10,052,540.00        6.19    645    7.531             6.19    79.71
300,000.01 - 325,000.00                     22   $  6,868,509.00        4.23    667    7.480             4.23    80.27
325,000.01 - 350,000.00                     26   $  8,803,202.00        5.42    657    7.845             5.42    82.86
350,000.01 - 375,000.00                     30   $ 10,848,990.00        6.68    663    7.877             6.68    80.64
375,000.01 - 400,000.00                     27   $ 10,507,291.00        6.47    673    7.696             6.47    80.68
400,000.01 - 425,000.00                     21   $  8,649,100.00        5.32    660    7.662             5.32    80.53
425,000.01 - 450,000.00                     16   $  7,033,525.00        4.33    640    7.660             4.33    82.03
450,000.01 - 475,000.00                     11   $  5,076,530.00        3.12    670    7.613             3.12    81.96
475,000.01 - 500,000.00                     24   $ 11,743,347.00        7.23    659    7.769             7.23    79.42
500,000.01 >=                               50   $ 29,635,311.00       18.24    663    7.801            18.24    81.98
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,513,345.00      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




current balance                          Count       Balance       % Balance   FICO     WAC          IO%          LTV
---------------                          -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00
25,000.01 - 50,000.00
50,000.01 - 75,000.00                        1   $     72,800.00        0.04    630    9.590             0.04    80.00
75,000.01 - 100,000.00                      10   $    878,878.65        0.54    627    7.859             0.54    79.31
100,000.01 - 125,000.00                     16   $  1,804,208.10        1.11    660    8.123             1.11    74.02
125,000.01 - 150,000.00                     20   $  2,755,396.02        1.70    658    7.876             1.70    78.86
150,000.01 - 175,000.00                     25   $  4,068,308.01        2.50    672    7.825             2.50    80.95
175,000.01 - 200,000.00                     57   $ 10,629,953.44        6.54    663    7.965             6.54    79.42
200,000.01 - 225,000.00                     51   $ 10,935,227.37        6.73    650    7.805             6.73    80.18
225,000.01 - 250,000.00                     49   $ 11,602,321.55        7.14    648    7.736             7.14    78.71
250,000.01 - 275,000.00                     40   $ 10,544,076.63        6.49    663    7.794             6.49    80.79
275,000.01 - 300,000.00                     35   $ 10,052,403.62        6.19    645    7.531             6.19    79.71
300,000.01 - 325,000.00                     22   $  6,868,380.10        4.23    667    7.480             4.23    80.27
325,000.01 - 350,000.00                     26   $  8,802,686.41        5.42    657    7.845             5.42    82.86
350,000.01 - 375,000.00                     30   $ 10,848,987.51        6.68    663    7.877             6.68    80.64
375,000.01 - 400,000.00                     27   $ 10,507,240.66        6.47    673    7.696             6.47    80.68
400,000.01 - 425,000.00                     21   $  8,648,929.47        5.32    660    7.662             5.32    80.53
425,000.01 - 450,000.00                     16   $  7,033,524.48        4.33    640    7.660             4.33    82.03
450,000.01 - 475,000.00                     11   $  5,076,400.45        3.12    670    7.613             3.12    81.96
475,000.01 - 500,000.00                     24   $ 11,743,209.68        7.23    659    7.769             7.23    79.42
500,000.01 >=                               50   $ 29,635,073.72       18.24    663    7.801            18.24    81.98
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




gross coupon                             Count       Balance       % Balance   FICO     WAC          IO%          LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

5.00001 - 6.00000                            2   $    572,938.00        0.35    673    5.804             0.35    65.50
6.00001 - 7.00000                           96   $ 29,872,053.37       18.38    659    6.774            18.38    78.35
7.00001 - 8.00000                          261   $ 82,578,777.59       50.82    661    7.578            50.82    80.42
8.00001 - 9.00000                          131   $ 36,959,621.16       22.74    658    8.447            22.74    81.68
9.00001 - 10.00000                          39   $ 11,801,015.75        7.26    653    9.354             7.26    84.28
10.00001 - 11.00000                          2   $    723,600.00        0.45    616   10.224             0.45    90.00
11.00001 - 12.00000
12.00001 - 13.00000
13.00001 - 14.00000
14.00001 - 15.00000
                                           ---   ---------------      ------    ---   ------           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===   ======           ======    =====




remaining term                           Count       Balance       % Balance   FICO     WAC          IO%          LTV
--------------                           -----   ---------------   ---------   ----   ------   --------------   ------

161 - 180
221 - 240
281 - 300
341 - 360                                  531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




LTV                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 10.00
10.01 - 20.00
20.01 - 30.00                                1   $    120,000.00        0.07    619    7.750             0.07    22.64
30.01 - 40.00                                3   $    980,000.00        0.60    638    7.540             0.60    39.09
40.01 - 50.00                                1   $    220,000.00        0.14    711    6.300             0.14    41.90
50.01 - 60.00                               10   $  1,992,050.86        1.23    619    7.337             1.23    54.06
60.01 - 70.00                               15   $  4,300,870.23        2.65    639    7.222             2.65    67.51
70.01 - 80.00                              394   $118,195,584.62       72.73    664    7.679            72.73    79.56
80.01 - 90.00                               86   $ 30,223,378.26       18.60    642    8.037            18.60    87.05
90.01 - 100.00                              21   $  6,476,121.90        3.99    669    8.582             3.99    95.06
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




Loan Purpose                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Purchase                                   320   $ 95,071,849.36       58.50    670    7.802            58.50    80.56
Refinance - Rate Term                       18   $  5,016,539.00        3.09    653    7.430             3.09    79.48
Refinance - Cashout                        193   $ 62,419,617.51       38.41    642    7.728            38.41    80.75
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




Doc                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

Full                                       208   $ 60,521,992.57       37.24    646    7.396            37.24    81.32
Alternative
Limited                                     27   $  9,251,434.68        5.69    650    7.520             5.69    81.22
Lite
Stated                                     296   $ 92,734,578.62       57.06    668    8.025            57.06    80.07
No Ratio
No Doc
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




Product Type                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Interest Only Fixed - 30 Year               15   $  4,811,984.77        2.96    655    7.474             2.96    77.31
Interest Only Arm - 2 Year/6 Month         424   $132,706,238.28       81.66    658    7.778            81.66    80.76
Interest Only Arm - 3 Year/6 Month          85   $ 23,093,943.82       14.21    665    7.774            14.21    80.55
Interest Only Arm - 5 Year/6 Month           7   $  1,895,839.00        1.17    676    7.240             1.17    77.91
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====




Occupancy                                Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---------                                -----   ---------------   ---------   ----   ------   --------------   ------

Primary                                    516   $158,921,980.01       97.79    658    7.746            97.79    80.57
Second Home                                  8   $  1,802,826.00        1.11    707    8.564             1.11    83.92
Investment                                   7   $  1,783,199.86        1.10    663    8.371             1.10    79.71
                                           ---   ---------------      ------    ---    -----           ------    -----
Total:                                     531   $162,508,005.87      100.00    659    7.762           100.00    80.60
                                           ===   ===============      ======    ===    =====           ======    =====


3. FIXED LOANS



Original Balance                         Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00                            31   $    675,138.00        0.61    650   11.022             0.00    99.81
25,000.01 - 50,000.00                      191   $  7,492,144.00        6.79    638   11.381             0.00    95.84
50,000.01 - 75,000.00                      200   $ 12,571,199.00       11.39    638   10.737             0.00    91.45
75,000.01 - 100,000.00                     164   $ 14,338,595.00       12.99    628    9.719             0.00    85.88
100,000.01 - 125,000.00                    117   $ 13,152,870.00       11.91    619    9.644             0.00    84.55
125,000.01 - 150,000.00                     72   $  9,873,531.00        8.94    612    9.074             0.00    81.98
150,000.01 - 175,000.00                     57   $  9,250,339.00        8.38    634    8.503             0.16    79.59
175,000.01 - 200,000.00                     34   $  6,413,650.00        5.81    619    8.471             0.34    78.15
200,000.01 - 225,000.00                     19   $  4,043,105.00        3.66    625    7.737             0.20    72.94
225,000.01 - 250,000.00                     24   $  5,712,600.00        5.17    616    8.323             0.21    72.32
250,000.01 - 275,000.00                      8   $  2,071,150.00        1.88    614    8.113             0.00    73.49
275,000.01 - 300,000.00                     14   $  4,100,800.00        3.71    627    7.978             0.54    76.55
300,000.01 - 325,000.00                      9   $  2,783,900.00        2.52    646    8.343             0.28    78.09
325,000.01 - 350,000.00                      8   $  2,680,750.00        2.43    649    7.250             0.60    82.62
350,000.01 - 375,000.00                      9   $  3,256,900.00        2.95    641    7.794             0.34    79.17
375,000.01 - 400,000.00                      5   $  1,962,600.00        1.78    662    7.565             0.00    64.32
400,000.01 - 425,000.00                      5   $  2,042,250.00        1.85    645    7.263             0.36    78.93
425,000.01 - 450,000.00                      1   $    450,000.00        0.41    588    8.200             0.00    90.00
450,000.01 - 475,000.00                      1   $    475,000.00        0.43    673    9.150             0.43    86.36
475,000.01 - 500,000.00                      3   $  1,466,000.00        1.33    625    7.316             0.44    85.31
500,000.01 >=                               10   $  5,593,900.00        5.07    676    8.094             0.46    78.48
                                           ---   ---------------      ------    ---   ------             ----    -----
Total:                                     982   $110,406,421.00      100.00    631    9.117             4.36    82.69
                                           ===   ===============      ======    ===   ======             ====    =====




current balance                          Count       Balance       % Balance   FICO     WAC          IO%          LTV
---------------                          -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00                            31   $    673,662.09        0.61    650   11.023             0.00    99.81
25,000.01 - 50,000.00                      191   $  7,479,764.80        6.79    638   11.382             0.00    95.85
50,000.01 - 75,000.00                      202   $ 12,698,237.35       11.52    637   10.706             0.00    91.24
75,000.01 - 100,000.00                     163   $ 14,250,549.10       12.93    629    9.724             0.00    86.00
100,000.01 - 125,000.00                    117   $ 13,152,567.46       11.94    619    9.678             0.00    84.74
125,000.01 - 150,000.00                     71   $  9,726,908.74        8.83    612    9.044             0.00    81.76
150,000.01 - 175,000.00                     58   $  9,408,562.24        8.54    633    8.531             0.16    79.60
175,000.01 - 200,000.00                     33   $  6,226,792.00        5.65    620    8.429             0.34    78.10
200,000.01 - 225,000.00                     19   $  4,035,087.47        3.66    625    7.737             0.20    72.95
225,000.01 - 250,000.00                     25   $  5,953,953.32        5.40    615    8.286             0.21    72.64
250,000.01 - 275,000.00                      7   $  1,817,318.65        1.65    616    8.205             0.00    72.59
275,000.01 - 300,000.00                     14   $  4,094,433.13        3.72    627    7.978             0.54    76.55
300,000.01 - 325,000.00                     10   $  3,104,749.16        2.82    652    8.196             0.28    78.53
325,000.01 - 350,000.00                      7   $  2,350,470.45        2.13    641    7.292             0.61    82.66
350,000.01 - 375,000.00                      9   $  3,249,958.85        2.95    641    7.795             0.34    79.17
375,000.01 - 400,000.00                      5   $  1,958,164.98        1.78    662    7.566             0.00    64.32
400,000.01 - 425,000.00                      5   $  2,039,227.47        1.85    645    7.263             0.36    78.92
425,000.01 - 450,000.00                      1   $    449,632.58        0.41    588    8.200             0.00    90.00
450,000.01 - 475,000.00                      1   $    475,000.00        0.43    673    9.150             0.43    86.36
475,000.01 - 500,000.00                      3   $  1,462,939.42        1.33    625    7.316             0.44    85.31
500,000.01 >=                               10   $  5,586,692.54        5.07    676    8.094             0.46    78.48
                                           ---   ---------------      ------    ---   ------             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===   ======             ====    =====




gross coupon                             Count       Balance       % Balance   FICO   WAC            IO%          LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

5.00001 - 6.00000
6.00001 - 7.00000                           60   $ 15,262,149.26       13.85    674    6.784             1.89    69.69
7.00001 - 8.00000                          134   $ 23,911,154.64       21.70    639    7.602             1.37    76.44
8.00001 - 9.00000                          191   $ 24,928,293.61       22.62    611    8.565             0.68    78.92
9.00001 - 10.00000                         133   $ 13,071,599.88       11.86    597    9.631             0.43    84.51
10.00001 - 11.00000                        141   $ 11,044,478.04       10.02    634   10.636             0.00    91.44
11.00001 - 12.00000                        201   $ 15,197,366.20       13.79    635   11.602             0.00    96.26
12.00001 - 13.00000                         85   $  5,110,810.73        4.64    633   12.473             0.00    99.72
13.00001 - 14.00000                         35   $  1,560,486.37        1.42    628   13.430             0.00    99.69
14.00001 - 15.00000                          2   $    108,333.07        0.10    637   14.151             0.00   100.00
                                           ---   ---------------      ------    ---   ------             ----   ------
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===   ======             ====   ======




remaining term                           Count       Balance       % Balance   FICO     WAC          IO%          LTV
--------------                           -----   ---------------   ---------   ----   ------   --------------   ------

<= 160                                       7   $    496,311.23        0.45    631    8.252             0.00    64.85
161 - 180                                  377   $ 25,855,356.08       23.46    656   11.213             0.00    96.89
221 - 240                                   24   $  1,990,559.09        1.81    634    8.449             0.00    75.91
281 - 300                                    3   $    245,515.20        0.22    622    8.559             0.00    84.90
341 - 360                                  571   $ 81,606,930.20       74.06    623    8.477             4.37    78.46
                                           ---   ---------------      ------    ---   ------             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===   ======             ====    =====




LTV                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 10.00
10.01 - 20.00                                1   $     26,276.15        0.02    518   11.800             0.00    16.97
20.01 - 30.00                                6   $    715,994.12        0.65    666    7.140             0.00    24.29
30.01 - 40.00                                9   $  1,527,233.16        1.39    628    7.902             0.00    34.73
40.01 - 50.00                               26   $  3,728,527.47        3.38    624    7.678             0.00    45.53
50.01 - 60.00                               27   $  4,120,491.19        3.74    616    7.636             0.21    56.81
60.01 - 70.00                               61   $  9,469,966.43        8.59    610    8.443             0.47    66.79
70.01 - 80.00                              211   $ 33,243,289.07       30.17    627    8.171             3.26    78.22
80.01 - 90.00                              143   $ 22,966,236.13       20.84    620    8.516             0.43    86.69
90.01 - 100.00                             498   $ 34,396,658.08       31.21    650   11.046             0.00    99.24
                                           ---   ---------------      ------    ---   ------             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===   ======             ====    =====




Loan Purpose                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Purchase                                   468   $ 35,629,176.08       32.33    655   10.637             0.49    94.32
Refinance - Rate Term                       74   $ 10,387,059.93        9.43    622    8.269             0.00    82.55
Refinance - Cashout                        440   $ 64,178,435.79       58.24    619    8.412             3.87    76.26
                                           ---   ---------------      ------    ---   ------             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===   ======             ====    =====




Doc                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

Full                                       444   $ 55,149,259.33       50.05    615    8.521             2.04    80.68
Alternative
Limited                                     52   $  5,122,442.72        4.65    641    9.166             0.00    88.75
Lite
Stated                                     486   $ 49,922,969.75       45.30    648    9.771             2.33    84.29
No Ratio
No Doc
                                           ---   ---------------      ------    ---    -----             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===    =====             ====    =====




Product Type                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Fixed - 10 Year                              7   $    496,311.23        0.45    631    8.252             0.00    64.85
Fixed - 15 Year                             23   $  1,940,686.21        1.76    634    8.448             0.00    69.52
Fixed - 20 Year                             24   $  1,990,559.09        1.81    634    8.449             0.00    75.91
Fixed - 25 Year                              3   $    245,515.20        0.22    622    8.559             0.00    84.90
Fixed - 30 Year                            489   $ 62,069,626.83       56.33    620    8.684             0.00    78.47
Interest Only Fixed - 30 Year               15   $  4,811,984.77        4.37    655    7.474             4.37    77.31
Balloon - 15/30                            354   $ 23,914,669.87       21.70    657   11.437             0.00    99.11
Balloon - 30/40                             67   $ 14,725,318.60       13.36    627    7.933             0.00    78.80
                                           ---   ---------------      ------    ---   ------             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===   ======             ====    =====




Occupancy                                Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---------                                -----   ---------------   ---------   ----   ------   --------------   ------

Primary                                    931   $104,310,697.32       94.66    630    9.147             4.08    83.00
Second Home                                  4   $    296,946.82        0.27    658    9.813             0.00    88.08
Investment                                  47   $  5,587,027.66        5.07    643    8.539             0.28    76.68
                                           ---   ---------------      ------    ---    -----             ----    -----
Total:                                     982   $110,194,671.80      100.00    631    9.118             4.37    82.69
                                           ===   ===============      ======    ===    =====             ====    =====


4. LTV > 90



Original Balance                         Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00                            31    $   675,138.00        0.87    650   11.022             0.00    99.81
25,000.01 - 50,000.00                      168    $ 6,476,409.00        8.34    647   11.605             0.00    99.67
50,000.01 - 75,000.00                      155    $ 9,657,456.00       12.43    655   11.286             0.00    99.28
75,000.01 - 100,000.00                      87    $ 7,685,229.00        9.89    655   10.836             0.00    99.25
100,000.01 - 125,000.00                     76    $ 8,511,843.00       10.96    636   10.684             0.13    98.42
125,000.01 - 150,000.00                     42    $ 5,753,087.00        7.41    637    9.897             0.00    97.77
150,000.01 - 175,000.00                     29    $ 4,688,600.00        6.04    639    9.657             0.21    96.42
175,000.01 - 200,000.00                     15    $ 2,835,575.00        3.65    645    9.623             0.49    97.22
200,000.01 - 225,000.00                     17    $ 3,642,743.00        4.69    659    8.847             1.14    95.42
225,000.01 - 250,000.00                     16    $ 3,812,005.00        4.91    657    9.267             0.00    94.87
250,000.01 - 275,000.00                     13    $ 3,439,925.00        4.43    637    8.346             0.69    95.32
275,000.01 - 300,000.00                     13    $ 3,745,500.00        4.82    631    7.975             0.72    95.33
300,000.01 - 325,000.00                      4    $ 1,246,500.00        1.60    646    8.710             0.40    96.23
325,000.01 - 350,000.00                      6    $ 2,016,250.00        2.60    674    9.223             0.86    95.82
350,000.01 - 375,000.00                      3    $ 1,068,750.00        1.38    635    9.561             0.00    95.00
375,000.01 - 400,000.00                      9    $ 3,510,155.00        4.52    656    8.911             1.01    95.54
400,000.01 - 425,000.00                      5    $ 2,040,500.00        2.63    644    8.356             0.00    94.05
425,000.01 - 450,000.00                      3    $ 1,294,350.00        1.67    634    9.419             0.56    93.95
450,000.01 - 475,000.00                      3    $ 1,401,250.00        1.80    681    9.022             0.59    95.00
475,000.01 - 500,000.00                      1    $   498,750.00        0.64    638    9.950             0.00    95.00
500,000.01 >=                                6    $ 3,689,473.00        4.75    654    8.574             1.53    95.63
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     702    $77,689,488.00      100.00    648    9.923             8.34    97.23
                                           ===    ==============      ======    ===   ======             ====    =====




current balance                          Count       Balance       % Balance   FICO     WAC          IO%          LTV
---------------                          -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00                            31    $   673,662.09        0.87    650   11.023             0.00    99.81
25,000.01 - 50,000.00                      168    $ 6,467,056.15        8.33    647   11.606             0.00    99.67
50,000.01 - 75,000.00                      155    $ 9,643,644.89       12.43    655   11.286             0.00    99.28
75,000.01 - 100,000.00                      87    $ 7,670,735.25        9.89    655   10.837             0.00    99.25
100,000.01 - 125,000.00                     77    $ 8,626,390.98       11.12    637   10.695             0.13    98.44
125,000.01 - 150,000.00                     41    $ 5,619,664.21        7.24    636    9.862             0.00    97.72
150,000.01 - 175,000.00                     29    $ 4,681,946.39        6.03    639    9.657             0.21    96.42
175,000.01 - 200,000.00                     15    $ 2,831,856.02        3.65    645    9.623             0.49    97.22
200,000.01 - 225,000.00                     18    $ 3,864,825.86        4.98    658    8.886             1.14    95.39
225,000.01 - 250,000.00                     15    $ 3,583,211.68        4.62    658    9.251             0.00    94.86
250,000.01 - 275,000.00                     13    $ 3,436,033.71        4.43    637    8.347             0.69    95.32
275,000.01 - 300,000.00                     13    $ 3,741,357.82        4.82    631    7.975             0.72    95.33
300,000.01 - 325,000.00                      4    $ 1,245,404.67        1.61    646    8.710             0.40    96.23
325,000.01 - 350,000.00                      6    $ 2,014,750.40        2.60    674    9.223             0.87    95.82
350,000.01 - 375,000.00                      3    $ 1,067,699.64        1.38    635    9.562             0.00    95.00
375,000.01 - 400,000.00                      9    $ 3,507,431.41        4.52    656    8.911             1.01    95.54
400,000.01 - 425,000.00                      5    $ 2,037,360.88        2.63    644    8.357             0.00    94.05
425,000.01 - 450,000.00                      3    $ 1,293,189.24        1.67    634    9.419             0.56    93.96
450,000.01 - 475,000.00                      3    $ 1,400,982.77        1.81    681    9.022             0.59    95.00
475,000.01 - 500,000.00                      1    $   498,589.19        0.64    638    9.950             0.00    95.00
500,000.01 >=                                6    $ 3,686,989.96        4.75    654    8.575             1.54    95.63
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===   ======             ====    =====




gross coupon                             Count       Balance       % Balance   FICO     WAC          IO%          LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

5.00001 - 6.00000
6.00001 - 7.00000                            2    $   556,603.27        0.72    603    6.261             0.00    97.45
7.00001 - 8.00000                           40    $10,403,760.13       13.41    641    7.652             2.71    94.99
8.00001 - 9.00000                           86    $16,523,082.65       21.29    656    8.623             2.99    95.64
9.00001 - 10.00000                         115    $16,293,228.90       21.00    650    9.638             2.64    96.24
10.00001 - 11.00000                        145    $12,936,882.25       16.67    652   10.590             0.00    98.28
11.00001 - 12.00000                        192    $13,866,027.46       17.87    645   11.617             0.00    99.69
12.00001 - 13.00000                         86    $ 5,392,049.71        6.95    636   12.495             0.00    99.64
13.00001 - 14.00000                         34    $ 1,512,815.77        1.95    627   13.427             0.00   100.00
14.00001 - 15.00000                          2    $   108,333.07        0.14    637   14.151             0.00   100.00
                                           ---    --------------      ------    ---   ------             ----   ------
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===   ======             ====   ======




remaining term                           Count       Balance       % Balance   FICO     WAC          IO%          LTV
--------------                           -----   ---------------   ---------   ----   ------   --------------   ------

161 - 180                                  352    $23,414,454.95       30.18    657   11.512             0.00    99.90
221 - 240                                    6    $   305,232.97        0.39    673    9.892             0.00    95.24
281 - 300                                    1    $    72,026.78        0.09    684    7.200             0.00    95.00
341 - 360                                  343    $53,801,068.51       69.34    644    9.235             8.35    96.08
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===   ======             ====    =====




Loan Purpose                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Purchase                                   516    $45,302,672.50       58.39    656   10.671             2.31    98.24
Refinance - Rate Term                       34    $ 5,463,767.26        7.04    626    8.461             0.95    95.22
Refinance - Cashout                        152    $26,826,343.45       34.57    638    8.957             5.09    95.93
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===   ======             ====    =====




Doc                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

Full                                       268    $37,013,896.08       47.70    635    9.113             4.30    96.52
Alternative
Limited                                     45    $ 3,867,891.04        4.98    643   10.411             0.39    98.09
Lite
Stated                                     389    $36,710,996.09       47.31    661   10.687             3.66    97.85
No Ratio
No Doc
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===   ======             ====    =====




Product Type                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Fixed - 15 Year                              4    $   188,095.57        0.24    643   11.242             0.00   100.00
Fixed - 20 Year                              6    $   305,232.97        0.39    673    9.892             0.00    95.24
Fixed - 25 Year                              1    $    72,026.78        0.09    684    7.200             0.00    95.00
Fixed - 30 Year                            129    $ 8,803,854.19       11.35    641   10.346             0.00    98.52
Balloon - 15/30                            348    $23,226,359.38       29.93    657   11.514             0.00    99.90
Balloon - 30/40                             10    $ 1,801,089.19        2.32    612    8.771             0.00    95.14
ARM - 2 Year/6 Month                        90    $15,369,073.45       19.81    649    9.311             0.00    95.64
ARM - 3 Year/6 Month                        28    $ 4,583,278.37        5.91    625    9.372             0.00    96.62
ARM - 2 Year/6 Month - Balloon - 30/40      52    $14,001,983.81       18.05    647    8.768             0.00    95.23
ARM - 3 Year/6 Month - Balloon - 30/40      13    $ 2,765,667.60        3.56    597    9.242             0.00    97.11
Interest Only Arm - 2 Year/6 Month          17    $ 5,273,371.90        6.80    663    8.487             6.80    94.79
Interest Only Arm - 3 Year/6 Month           3    $   984,750.00        1.27    692    9.047             1.27    96.60
Interest Only Arm - 5 Year/6 Month           1    $   218,000.00        0.28    716    8.775             0.28    94.78
                                           ---    --------------      ------    ---   ------             ----   ------
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===   ======             ====   ======




Occupancy                                Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---------                                -----   ---------------   ---------   ----   ------   --------------   ------

Primary                                    653    $68,065,665.38       87.72    643    9.986             7.52    97.53
Second Home                                 12    $ 2,265,569.60        2.92    684    9.287             0.44    95.74
Investment                                  37    $ 7,261,548.23        9.36    679    9.528             0.39    94.83
                                           ---    --------------      ------    ---    -----             ----    -----
Total:                                     702    $77,592,783.21      100.00    648    9.923             8.35    97.23
                                           ===    ==============      ======    ===    =====             ====    =====


5. INVESTOR PROPERTIES



Original Balance                         Count       Balance       % Balance   FICO     WAC          IO%          LTV
----------------                         -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00
25,000.01 - 50,000.00                       14    $   589,570.00        1.18    650   10.246             0.00    83.22
50,000.01 - 75,000.00                       43    $ 2,660,628.00        5.34    638    9.878             0.00    83.15
75,000.01 - 100,000.00                      45    $ 3,899,550.00        7.82    640    9.173             0.00    81.29
100,000.01 - 125,000.00                     38    $ 4,183,025.00        8.39    644    9.277             0.65    81.89
125,000.01 - 150,000.00                     21    $ 2,923,641.00        5.86    656    8.972             0.00    77.58
150,000.01 - 175,000.00                     27    $ 4,337,010.00        8.70    651    8.949             0.00    77.64
175,000.01 - 200,000.00                     24    $ 4,529,945.00        9.09    655    8.919             0.40    83.06
200,000.01 - 225,000.00                     19    $ 3,999,910.00        8.02    652    9.232             0.00    83.05
225,000.01 - 250,000.00                     14    $ 3,357,512.00        6.74    648    9.299             0.50    81.56
250,000.01 - 275,000.00                      8    $ 2,096,225.00        4.21    653    8.818             0.00    88.70
275,000.01 - 300,000.00                      4    $ 1,137,650.00        2.28    657    9.002             0.00    90.00
300,000.01 - 325,000.00                      6    $ 1,902,100.00        3.82    651    8.594             0.63    83.90
325,000.01 - 350,000.00                      8    $ 2,730,450.00        5.48    644    8.611             0.00    77.79
350,000.01 - 375,000.00                      2    $   724,500.00        1.45    691    9.015             0.00    71.78
375,000.01 - 400,000.00                      5    $ 1,941,750.00        3.90    681    8.189             0.00    85.65
400,000.01 - 425,000.00                      2    $   832,250.00        1.67    660    7.417             0.00    77.14
425,000.01 - 450,000.00                      1    $   435,100.00        0.87    628   10.090             0.00    95.00
450,000.01 - 475,000.00                      3    $ 1,408,000.00        2.82    683    9.475             0.00    91.68
475,000.01 - 500,000.00                      4    $ 1,931,400.00        3.87    637    9.462             0.00    83.71
500,000.01 >=                                6    $ 4,229,500.00        8.48    656    8.563             1.40    78.09
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     294    $49,849,716.00      100.00    652    9.025             3.58    81.86
                                           ===    ==============      ======    ===   ======             ====    =====




current balance                          Count       Balance       % Balance   FICO     WAC          IO%          LTV
---------------                          -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 25,000.00
25,000.01 - 50,000.00                       15    $   629,833.18        1.27    648   10.157             0.00    82.36
50,000.01 - 75,000.00                       43    $ 2,656,272.87        5.35    638    9.878             0.00    83.15
75,000.01 - 100,000.00                      45    $ 3,890,328.73        7.83    640    9.174             0.00    81.30
100,000.01 - 125,000.00                     38    $ 4,177,756.69        8.41    644    9.277             0.65    81.89
125,000.01 - 150,000.00                     21    $ 2,919,608.00        5.88    656    8.972             0.00    77.58
150,000.01 - 175,000.00                     26    $ 4,167,107.03        8.39    652    8.953             0.00    77.95
175,000.01 - 200,000.00                     24    $ 4,523,494.34        9.11    655    8.919             0.40    83.06
200,000.01 - 225,000.00                     19    $ 3,995,318.02        8.05    652    9.232             0.00    83.06
225,000.01 - 250,000.00                     14    $ 3,352,423.33        6.75    648    9.300             0.50    81.56
250,000.01 - 275,000.00                      8    $ 2,092,132.32        4.21    653    8.818             0.00    88.70
275,000.01 - 300,000.00                      4    $ 1,136,548.16        2.29    657    9.002             0.00    90.01
300,000.01 - 325,000.00                      6    $ 1,899,832.55        3.83    651    8.593             0.63    83.90
325,000.01 - 350,000.00                      8    $ 2,727,106.26        5.49    644    8.611             0.00    77.79
350,000.01 - 375,000.00                      2    $   723,051.78        1.46    691    9.015             0.00    71.77
375,000.01 - 400,000.00                      5    $ 1,938,296.55        3.90    681    8.189             0.00    85.66
400,000.01 - 425,000.00                      2    $   828,883.80        1.67    660    7.418             0.00    77.12
425,000.01 - 450,000.00                      1    $   434,720.78        0.88    628   10.090             0.00    95.00
450,000.01 - 475,000.00                      3    $ 1,406,825.76        2.83    683    9.475             0.00    91.68
475,000.01 - 500,000.00                      4    $ 1,929,798.68        3.89    637    9.462             0.00    83.70
500,000.01 >=                                6    $ 4,223,915.21        8.51    656    8.564             1.41    78.09
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===   ======             ====    =====




gross coupon                             Count       Balance       % Balance   FICO     WAC          IO%          LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

5.00001 - 6.00000
6.00001 - 7.00000                            5    $ 1,691,367.74        3.41    673    6.827             0.63    79.33
7.00001 - 8.00000                           46    $10,493,574.73       21.13    672    7.753             1.64    75.27
8.00001 - 9.00000                           88    $13,614,868.88       27.42    653    8.627             0.00    82.30
9.00001 - 10.00000                          94    $15,307,066.79       30.83    647    9.559             1.11    84.34
10.00001 - 11.00000                         46    $ 7,362,634.87       14.83    632   10.478             0.21    85.98
11.00001 - 12.00000                          7    $   542,004.41        1.09    550   11.289             0.00    74.34
12.00001 - 13.00000                          7    $   594,066.02        1.20    642   12.761             0.00    89.62
13.00001 - 14.00000                          1    $    47,670.60        0.10    649   13.525             0.00    90.00
14.00001 - 15.00000
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===   ======             ====    =====




remaining term                           Count       Balance       % Balance   FICO     WAC          IO%          LTV
--------------                           -----   ---------------   ---------   ----   ------   --------------   ------

<= 160                                       1    $    81,573.77        0.16    618    8.050             0.00    62.04
161 - 180                                    2    $    85,257.81        0.17    709    9.990             0.00    83.98
221 - 240
281 - 300
341 - 360                                  291    $49,486,422.46       99.66    652    9.026             3.59    81.92
                                           ---    --------------      ------    ---    -----             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===    =====             ====    =====




LTV                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

0.01 - 10.00
10.01 - 20.00
20.01 - 30.00                                1    $   109,872.30        0.22    605    8.725             0.00    25.14
30.01 - 40.00                                2    $   339,484.54        0.68    650    8.200             0.00    35.15
40.01 - 50.00                                8    $ 1,203,617.47        2.42    614    8.502             0.00    47.44
50.01 - 60.00                                9    $ 1,907,302.33        3.84    611    8.713             0.50    52.87
60.01 - 70.00                               26    $ 4,549,453.20        9.16    627    8.615             0.00    66.62
70.01 - 80.00                               70    $11,332,514.99       22.82    642    8.910             0.63    78.88
80.01 - 90.00                              141    $22,949,460.98       46.22    659    9.073             1.85    87.50
90.01 - 100.00                              37    $ 7,261,548.23       14.62    679    9.528             0.61    94.83
                                           ---    --------------      ------    ---    -----             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===    =====             ====    =====




Loan Purpose                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Purchase                                   131    $21,511,917.22       43.32    661    9.313             1.05    88.60
Refinance - Rate Term                       13    $ 2,587,402.95        5.21    674    8.431             0.00    76.73
Refinance - Cashout                        150    $25,553,933.87       51.46    642    8.844             2.54    76.77
                                           ---    --------------      ------    ---    -----             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===    =====             ====    =====




Doc                                      Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
---                                      -----   ---------------   ---------   ----   ------   --------------   ------

Full                                       113    $17,433,550.15       35.11    647    8.610             2.27    81.12
Alternative
Limited                                     23    $ 4,098,634.60        8.25    656    8.363             0.61    83.67
Lite
Stated                                     158    $28,121,069.29       56.63    654    9.380             0.71    82.12
No Ratio
No Doc
                                           ---    --------------      ------    ---    -----             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===    =====             ====    =====




Product Type                             Count       Balance       % Balance   FICO     WAC    Remaining Term     LTV
------------                             -----   ---------------   ---------   ----   ------   --------------   ------

Fixed - 10 Year                              1    $    81,573.77        0.16    618    8.050             0.00    62.04
Fixed - 15 Year                              1    $    51,301.91        0.10    736    8.990             0.00    80.00
Fixed - 30 Year                             41    $ 4,949,310.73        9.97    640    8.650             0.00    76.68
Interest Only Fixed - 30 Year                1    $   314,000.00        0.63    683    6.150             0.63    78.50
Balloon - 15/30                              1    $    33,955.90        0.07    667   11.500             0.00    90.00
Balloon - 30/40                              2    $   156,885.35        0.32    632    9.273             0.00    76.95
ARM - 2 Year/6 Month                       152    $27,541,916.65       55.47    656    9.065             0.00    83.73
ARM - 3 Year/6 Month                        33    $ 3,456,733.76        6.96    657    8.921             0.00    81.73
ARM - 5 Year/6 Month                         3    $   482,396.74        0.97    725    8.407             0.00    82.98
ARM - 2 Year/6 Month - Balloon - 30/40      45    $ 9,809,361.49       19.76    636    9.294             0.00    80.11
ARM - 3 Year/6 Month - Balloon - 30/40       8    $ 1,306,617.88        2.63    665    8.973             0.00    80.99
Interest Only Arm - 2 Year/6 Month           4    $   654,449.86        1.32    636    9.912             1.32    77.66
Interest Only Arm - 3 Year/6 Month           2    $   814,750.00        1.64    677    7.990             1.64    81.82
                                           ---    --------------      ------    ---   ------             ----    -----
Total:                                     294    $49,653,254.04      100.00    652    9.026             3.59    81.90
                                           ===    ==============      ======    ===   ======             ====    =====




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BNB COLLATERAL INFORMATION

DEAL NAME:          IXIS 2006-HE3
BLOOMBERG TICKER:
ASSET CLASS:
ISSUER:
TRUSTEE:
LEAD MANAGER(S)

ISSUE DATE:



   %      ORIGINATOR NAME
------   ----------------

39.01%       First NLC
16.42%      New Century
12.16%      Accredited
 9.80%        Encore
 5.96%   Master Financial
 5.07%     Rose Mortgage
 3.85%     First Horizon
 1.52%    Lime Financial
 1.51%      First Banc
 1.05%    Lenders Direct
 1.02%      Quick Loan
 0.72%    Funding America
 0.65%       Mandalay
 0.58%      Flex Point
 0.48%        Chapel
 0.21%         Maxim
     %   SERVICER NAME
94.04%         Saxon
 5.96%   Master Financial




                                                                    WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                     -------------------------------------------------------------------------
                      PRINCIPAL             WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
FICO:      # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
-----      ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

NA
BELOW 500
500 TO 520     224  36,716,796.92    4.40 163,914.27    9.533    509   72.22 42.51    1.20   9.88   91.06    0.00   0.00  0.59
520 TO 540     240  41,290,028.10    4.95 172,041.78    9.422    529   72.07 41.86    1.87   8.65   85.26    0.00   0.00  0.00
540 TO 560     266  46,061,608.83    5.52 173,163.94    9.111    550   76.10 42.50    3.09  12.22   79.26    0.00   0.00  0.54
560 TO 580     279  52,146,596.99    6.25 186,905.37    8.860    569   77.81 42.35    3.20   7.25   82.78    0.00   0.00  1.36
580 TO 600     390  71,827,436.99    8.60 184,172.92    8.638    589   80.54 42.59    6.58  10.92   72.44    0.00   0.00  4.73
600 TO 620     556 110,919,142.47   13.28 199,494.86    8.347    609   81.36 42.38    6.27  11.27   55.60    0.00   0.00 24.57
620 TO 640     694 138,573,730.76   16.60 199,673.96    8.368    629   81.54 42.98    6.05  16.20   45.19    0.00   0.00 22.11
640 TO 660     552 113,919,673.59   13.64 206,376.22    8.234    649   81.66 43.40    9.86  19.20   43.47    0.00   0.00 27.31
660 TO 680     385  81,518,012.90    9.76 211,735.10    8.119    669   81.71 43.26   11.26  19.35   35.66    0.00   0.00 28.71
680 TO 700     252  57,308,534.33    6.86 227,414.82    8.027    689   81.37 42.96   11.83  23.71   33.66    0.00   0.00 31.91
700 TO 750     275  61,037,772.09    7.31 221,955.53    8.023    720   82.79 42.86   13.70  22.52   19.28    0.00   0.00 30.47
750 PLUS        94  23,614,967.19    2.83 251,223.06    7.869    770   81.49 42.61   10.18  24.06   15.46    0.00   0.00 36.65
             ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
TOTAL:       4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
             ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
FICO MEAN:     626                MEDIAN:        624 STD DEV:     59




                                                                    WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                     -------------------------------------------------------------------------
                                            WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
CLTV:      # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
-----      ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

BELOW 50       126  19,475,802.76    2.33 154,569.86     8.102   598   40.49 39.89    8.49  18.31   89.14    0.00   0.00  6.78
50 TO 55        57  10,354,576.53    1.24 181,659.24     8.383   581   52.46 40.65   18.01  20.65   91.30    0.00   0.00 12.57
55 TO 60        62   9,877,262.12    1.18 159,310.68     7.826   597   57.27 41.51    3.47  15.32   93.31    0.00   0.00  6.99
60 TO 65       105  19,914,723.33    2.39 189,664.03     8.418   576   62.50 41.17    7.19  12.25   91.31    0.00   0.00  4.42
65 TO 70       147  28,805,851.95    3.45 195,958.18     8.697   583   67.55 41.61    9.54  19.34   88.87    0.00   0.00  5.31
70 TO 75       211  43,984,572.09    5.27 208,457.69     8.449   585   71.93 41.35    1.80  14.16   89.30    0.00   0.00 13.40
75 TO 80       376  79,517,206.03    9.52 211,481.93     8.320   602   77.25 43.03    6.36  14.81   70.42    0.00   0.00 16.25
80 TO 85     1,655 387,613,104.04   46.42 234,207.31     8.105   644   80.25 43.27    4.11  16.95   32.20    0.00   0.00 27.76
85 TO 90       423  82,898,814.97    9.93 195,978.29     8.710   608   85.87 42.46   14.83  12.61   76.77    0.00   0.00 13.77
90 TO 95       380  82,754,176.63    9.91 217,774.15     8.732   626   90.31 43.13   13.78  13.89   63.58    0.00   0.00 17.16
95 TO 100      197  34,844,134.20    4.17 176,873.78     9.131   646   95.35 42.42   24.29  11.45   46.23    0.00   0.00 12.69
100 PLUS       468  34,894,076.51    4.18  74,559.99    11.020   653  100.00 43.52    0.96  14.90   16.16    0.00   0.00  0.95
             ----- --------------  ------ ----------    ------   ---  ------ -----   -----  -----   -----    ----   ---- -----
TOTAL:       4,207 834,934,301.16  100.00 198,463.11     8.458   626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
             ----- --------------  ------ ----------    ------   ---  ------ -----   -----  -----   -----    ----   ---- -----
CLTV MEAN:    80.13                MEDIAN      80.00 STD DEV   12.46




                                                                    WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                     -------------------------------------------------------------------------
                                            WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
DTI:       # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
-----      ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

BELOW 20       106  17,101,392.31    2.05 161,333.89    8.383    625   75.86 13.99   16.88  17.14   61.93    0.00   0.00  6.38
20 TO 25       111  16,047,340.10    1.92 144,570.63    8.724    602   80.30 22.73   19.38  17.53   64.61    0.00   0.00 14.22
25 TO 30       192  31,652,725.51    3.79 164,857.95    8.507    625   79.32 27.89   12.91  15.18   54.28    0.00   0.00 14.03
30 TO 35       318  55,071,218.05    6.60 173,179.93    8.479    615   77.36 32.75    9.58  16.30   62.17    0.00   0.00 16.17
35 TO 40       574 104,631,400.68   12.53 182,284.67    8.413    623   79.78 37.72    8.41  12.44   56.20    0.00   0.00 21.43
40 TO 45     1,118 232,514,090.37   27.85 207,973.25    8.425    634   80.21 42.78    4.74  16.91   49.00    0.00   0.00 21.86
45 TO 50     1,391 295,668,243.94   35.41 212,558.05    8.488    629   81.21 47.69    6.45  14.81   49.24    0.00   0.00 21.08
50 TO 55       369  74,385,848.61    8.91 201,587.67    8.482    610   79.53 52.21   10.19  16.74   57.57    0.00   0.00 12.32
55 TO 60        28   7,862,041.59    0.94 280,787.20    7.994    619   79.29 57.49    6.28  25.29   56.06    0.00   0.00 13.02
60 PLUS
             ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
TOTAL:       4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
             ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
DTI MEAN:    42.79                 MEDIAN      43.88 STD DEV    8.29




                                                                          WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                           -------------------------------------------------------------------------
                                                  WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
PURPOSE          # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
-------          ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

PURCHASE           1,871 357,138,841.16   42.77 190,881.26    8.464    656   82.85 43.36    8.49  19.55    0.00    0.00   0.00 26.62
REFINANCE
   (NO CASH)
REFINANCE
   (RATE TERM)       226  39,879,430.22    4.78 176,457.66    8.331    614   80.94 41.84    6.49  14.65    0.00    0.00   0.00 12.58
CASH OUT
   REFINANCE
   BELOW 70% LTV     524  93,071,595.20   11.15 177,617.55    8.471    581   59.32 41.38    8.22  16.07  100.00    0.00   0.00  6.86
CASH OUT
   REFINANCE
   WITH LTV
   70.1% - 75%       254  52,214,848.49    6.25 205,570.27    8.498    575   73.92 42.31    3.45  10.15  100.00    0.00   0.00  7.13
CASH OUT
   REFINANCE
   WITH LTV
   75.1% - 80%       592 132,565,489.80   15.88 223,928.19    8.251    612   79.63 42.39    4.81  10.90  100.00    0.00   0.00 19.23
CASH OUT
   REFINANCE
   WITH LTV
   80.1% - 85%       322  67,831,455.33    8.12 210,656.69    8.604    604   84.51 42.02   11.52  13.70  100.00    0.00   0.00 14.83
CASH OUT
   REFINANCE
   WITH LTV
   85.1% - 90%       266  65,406,297.51    7.83 245,888.34    8.520    623   89.40 43.62    6.38  13.30  100.00    0.00   0.00 19.59
CASH OUT
   REFINANCE
   WITH
   LTV > 90%         152  26,826,343.45    3.21 176,489.10    8.957    638   95.93 44.21    5.92   6.44  100.00    0.00   0.00 14.72
                   ----- --------------  ------ ----------    -----    ---   ----- -----    ----  -----  ------    ----   ---- -----
TOTAL:             4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                   ----- --------------  ------ ----------    -----    ---   ----- -----    ----  -----  ------    ----   ---- -----




                                                                          WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                           -------------------------------------------------------------------------
OCCUPANCY                                         WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
STATUS:          # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
---------        ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

OWNER OCCUPIED     3,860 772,614,335.34   92.54 200,159.15    8.414    624   79.97 42.96    0.00  13.98   52.87    0.00   0.00 20.57
INVESTMENT           294  49,653,254.04    5.95 168,888.62    9.026    652   81.90 39.87  100.00  37.66   51.46    0.00   0.00  3.59
2ND / VACATION /
   OTHER              53  12,666,711.78    1.52 238,994.56    8.902    652   82.77 43.72  100.00  26.83   30.46    0.00   0.00 14.23
                   ----- --------------  ------ ----------    -----    ---   ----- -----  ------  -----   -----    ----   ---- -----
TOTAL:             4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                   ----- --------------  ------ ----------    -----    ---   ----- -----  ------  -----   -----    ----   ---- -----




                                                                          WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                           -------------------------------------------------------------------------
DOCUMENTATION                                     WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
TYPE:            # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
-------------    ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

FULL
   DOCUMENTATION   1,897 342,451,104.45   41.02 180,522.46    8.246    607   80.02 42.19    6.37  13.14   61.77    0.00   0.00 17.67
LIMITED
   DOCUMENTATION     173  35,981,758.43    4.31 207,987.04    8.300    619   81.92 39.66   11.39  10.81   48.70    0.00   0.00 25.71
STATED
   DOCUMENTATION
   WITH
   LTV < 70%         217  44,126,900.86    5.29 203,349.77    8.560    592   57.48 42.56   10.10  19.63   89.01    0.00   0.00  8.40
STATED
   DOCUMENTATION
   WITH
   LTV 70% - 80%   1,150 287,087,710.00   34.38 249,641.49    8.272    649   79.07 43.72    4.10  17.72   34.98    0.00   0.00 24.89
STATED
   DOCUMENTATION
   WITH LTV
   80.1% - 85%       185  41,420,127.91    4.96 223,892.58    8.829    619   84.55 43.41   14.18  15.07   74.72    0.00   0.00 15.53
STATED
   DOCUMENTATION
   WITH LTV
   85.1% - 90%       196  47,155,703.42    5.65 240,590.32    9.098    635   89.57 42.89   19.97  22.40   61.44    0.00   0.00 17.61
STATED
   DOCUMENTATION
   WITH LTV
   90.1% - 100%      389  36,710,996.09    4.40  94,372.74   10.687    661   97.85 43.56   13.33  13.28   25.11    0.00   0.00  7.74
                   ----- --------------  ------ ----------    -----    ---   ----- -----    ----  -----   -----    ----   ---- -----
NINA
NO DOC
OTHER
TOTAL:             4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                   ===== ==============  ====== ==========    =====    ===   ===== =====    ====  =====   =====    ====   ==== =====




                                                                          WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                           -------------------------------------------------------------------------
                                                  WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
PROPERTY TYPE:   # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
--------------   ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

 SINGLE FAMILY
     RESIDENCE     3,358 640,465,570.39   76.71 190,728.28    8.460    622   80.32 42.85    5.70   0.00   54.99    0.00   0.00 18.81
  PLANNED UNIT
   DEVELOPMENT
         (PUD)       216  53,080,620.23    6.36 245,743.61    8.308    628   80.00 41.86    5.92   0.00   46.47    0.00   0.00 23.41
      2-4 UNIT       300  78,056,396.73    9.35 260,187.99    8.502    645   78.31 42.95   20.35 100.00   48.97    0.00   0.00 16.92
     TOWNHOUSE        63  11,308,545.36    1.35 179,500.72    8.498    621   79.03 43.47    5.01   0.00   58.55    0.00   0.00 25.15
   CONDOMINIUM       270  52,023,168.45    6.23 192,678.40    8.519    641   80.96 42.52   11.94 100.00   31.14    0.00   0.00 26.09
                   ----- --------------  ------ ----------    -----    ---   ----- -----    ----  -----   -----    ----   ---- -----
  MANUFACTURED
       HOUSING
         OTHER
        TOTAL:     4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                   ===== ==============  ====== ==========    =====    ===   ===== =====    ====  =====   =====    ====   ==== =====




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          -------------------------------------------------------------------------
                                                WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
UPB:           # LOANS    BALANCE $      %     BALANCE $     WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
----           ------- -------------- ------ ------------ -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

BELOW $50,000      248   9,283,423.98   1.11    37,433.16   11.173    634   93.86 40.37    7.76  11.28   23.21    0.00   0.00  0.00
$50,001
   TO $75,000      368  23,374,010.94   2.80    63,516.33   10.133    619   85.80 39.96   12.47  12.58   40.31    0.00   0.00  0.31
$75,001
   TO $100,000     411  36,041,775.80   4.32    87,692.89    9.306    613   82.48 40.08   11.04  12.14   45.48    0.00   0.00  2.44
$100,001
   TO $125,000     446  50,423,050.06   6.04   113,056.17    9.043    607   79.89 40.70    9.16  10.21   53.17    0.00   0.00  3.58
$125,001
   TO $150,000     401  55,346,959.13   6.63   138,022.34    8.770    608   78.26 41.57    6.29  12.56   55.27    0.00   0.00  4.98
$150,001
   TO $200,000     697 121,896,329.50  14.60   174,887.13    8.549    614   78.17 42.61    9.11  13.11   56.92    0.00   0.00 12.06
$200,001
   TO $250,000     520 116,547,962.17  13.96   224,130.70    8.348    623   79.16 43.53    7.83  11.61   55.16    0.00   0.00 19.34
$250,001
   TO $300,000     346  94,951,722.34  11.37   274,426.94    8.186    621   79.49 43.32    3.96  17.09   54.87    0.00   0.00 21.69
$300,001
   TO $350,000     240  77,684,212.99   9.30   323,684.22    8.182    628   79.95 43.83    7.63  12.98   59.63    0.00   0.00 20.17
$350,001
   TO $400,000     164  61,651,946.90   7.38   375,926.51    8.094    646   79.88 43.58    7.31  15.39   44.96    0.00   0.00 34.64
$400,001
   TO $450,000     122  51,768,201.03   6.20   424,329.52    8.045    633   81.20 43.98    2.44  20.48   49.80    0.00   0.00 30.29
$450,001
   TO $500,000      97  46,417,074.87   5.56   478,526.55    8.045    647   80.69 43.85    7.19  20.62   44.30    0.00   0.00 36.24
$500,001
   TO $600,000      89  48,760,140.16   5.84   547,866.74    8.053    645   81.49 43.16    3.52  23.38   49.55    0.00   0.00 35.39
$600,001
   TO $700,000      34  21,963,801.28   2.63   645,994.16    8.136    653   81.37 42.48    9.08  29.22   44.40    0.00   0.00 40.83
$700 001 PLUS       24  18,823,690.01   2.25   784,320.42    8.317    652   82.22 42.26   20.50  33.58   66.25    0.00   0.00 18.12
                 ----- -------------- ------   ----------    -----    ---   ----- -----    ----  -----   -----    ----   ---- -----
TOTAL:           4,207 834,934,301.16 100.00   198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                 ===== ============== ======   ==========    =====    ===   ===== =====    ====  =====   =====    ====   ==== =====


                   MIN      14,773.89    MAX 1,000,000.00



                                                                          WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                           -------------------------------------------------------------------------
                                                  WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
STATE:           # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
------           ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

CALIFORNIA           915 271,051,189.84   32.46 296,230.81    8.166    641   80.11 43.43    6.71  15.82   44.22    0.00   0.00 32.79
WASHINGTON            87  16,283,977.29    1.95 187,172.15    8.239    606   80.51 42.60    3.67   7.91   65.56    0.00   0.00  9.37
COLORADO              55   8,053,444.97    0.96 146,426.27    8.508    630   81.52 42.23   12.29   5.50   55.87    0.00   0.00 15.11
OREGON                48   8,388,711.24    1.00 174,764.82    8.274    606   79.82 40.79    5.05   5.19   70.77    0.00   0.00 11.20
OHIO                  50   4,958,808.03    0.59  99,176.16    9.482    596   84.45 41.65   15.25  10.29   48.98    0.00   0.00  9.90
ARIZONA              175  31,983,040.45    3.83 182,760.23    8.512    612   78.87 42.12    2.48   0.95   60.90    0.00   0.00 23.99
GEORGIA               92  13,333,788.34    1.60 144,932.48    8.939    614   82.98 40.62    9.20   0.99   57.16    0.00   0.00 16.79
UTAH                  15   2,950,694.25    0.35 196,712.95    8.559    630   80.61 38.44   20.38  13.19   29.95    0.00   0.00  0.00
IDAHO                 24   3,303,211.77    0.40 137,633.82    9.198    612   85.33 40.05   26.88   4.38   54.94    0.00   0.00  4.43
TENNESSEE             64   7,215,691.93    0.86 112,745.19    9.170    609   82.74 40.69   18.22   6.08   45.53    0.00   0.00  1.06
MICHIGAN             125  13,436,420.95    1.61 107,491.37    9.272    594   82.68 39.81    8.19   4.30   54.88    0.00   0.00  2.88
KENTUCKY              11     933,525.57    0.11  84,865.96    8.681    593   82.57 41.70    0.00   0.00   56.66    0.00   0.00 22.50
FLORIDA              666 119,157,018.56   14.27 178,914.44    8.545    622   79.54 42.90   10.31  13.25   51.31    0.00   0.00 16.12
NEVADA                93  19,876,786.01    2.38 213,728.88    8.152    636   81.56 43.93   10.00   3.73   43.35    0.00   0.00 32.34
NORTH CAROLINA        41   4,797,169.64    0.57 117,004.14    9.013    615   81.62 40.12   17.26   1.39   48.79    0.00   0.00 10.30
OTHER              1,746 309,210,822.32   37.03 177,096.69    8.603    620   79.92 42.65    6.58  21.33   58.67    0.00   0.00 10.54
                   ----- --------------  ------ ----------    -----    ---   ----- -----    ----  -----   -----    ----   ---- -----
TOTAL:             4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                   ===== ==============  ====== ==========    =====    ===   ===== =====    ====  =====   =====    ====   ==== =====




                                                                          WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                           -------------------------------------------------------------------------
CALIFORNIA                                        WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
BREAKDOWN:       # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
----------       ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

CA NORTH             276  81,660,268.11   30.13 295,870.54    8.138    641   79.72 43.39    6.31   6.20   39.62    0.00   0.00 33.47
CA SOUTH             639 189,390,921.73   69.87 296,386.42    8.178    641   80.28 43.45    6.88  19.96   46.21    0.00   0.00 32.49
                     --- --------------  ------ ----------    -----    ---   ----- -----    ----  -----   -----    ----   ---- -----
TOTAL:               915 271,051,189.84  100.00 296,230.81    8.166    641   80.11 43.43    6.71  15.82   44.22    0.00   0.00 32.79
                     === ==============  ====== ==========    =====    ===   ===== =====    ====  =====   =====    ====   ==== =====




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          --------------------------------------------------------------------------
                                                 WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
FIXED/FLOATING: # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC   IO
--------------- ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ ------

    2 YEAR ARM    1,203 227,698,737.74   27.27 189,275.76    8.687    614   79.02 42.07   14.80  16.44   52.89    0.00   0.00   0.00
 2 YEAR ARM IO      424 132,706,238.28   15.89 312,986.41    7.778    658   80.76 43.34    1.75  15.18   34.05    0.00   0.00 100.00
         FIXED      982 110,194,671.80   13.20 112,214.53    9.118    631   82.69 41.85    5.34  15.06   58.24    0.00   0.00   4.37
    3 YEAR ARM      488  77,786,207.66    9.32 159,397.97    8.903    592   78.83 42.71    5.00  11.60   66.06    0.00   0.00   0.00
 3 YEAR ARM IO       85  23,093,943.82    2.77 271,693.46    7.774    665   80.55 43.21    4.10  25.93   50.80    0.00   0.00 100.00
    5 YEAR ARM       12   1,990,883.71    0.24 165,906.98    8.472    631   76.09 42.15   24.23  37.71   82.41    0.00   0.00   0.00
         OTHER    1,013 261,463,618.15   31.32 258,108.21    8.255    625   80.08 43.50    5.77  15.35   54.84    0.00   0.00   0.73
                  ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ----  -----
        TOTAL:    4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00  19.46
                  ===== ==============  ====== ==========    =====    ===   ===== =====   =====  =====   =====    ====   ====  =====




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          -------------------------------------------------------------------------
MONTHS TO RATE                                   WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
RESET:          # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC  IO
--------------  ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

< 13                  2     542,838.36    0.07 271,419.18    7.742    602   84.95 47.25    0.00   0.00   50.54    0.00   0.00  0.00
13 - 24           2,420 574,697,548.20   68.83 237,478.33    8.310    629   79.83 42.87    8.67  15.99   48.92    0.00   0.00 23.09
25 - 36             784 145,612,520.09   17.44 185,730.26    8.564    611   79.46 43.15    4.22  14.31   61.43    0.00   0.00 15.86
37 - 49
49 >=                19   3,886,722.71    0.47 204,564.35    7.871    653   76.98 42.31   12.41  19.32   74.08    0.00   0.00 48.78
N/A                 982 110,194,671.80   13.20 112,214.53    9.118    631   82.69 41.85    5.34  15.06   58.24    0.00   0.00  4.37
                  ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
TOTAL:            4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                  ===== ==============  ====== ==========    =====    ===   ===== =====   =====  =====   =====    ====   ==== =====




                                                                        WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
INTEREST ONLY                                            ---------------------------------------------------------------------------
PERIODS                                         WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
(MONTHS)       # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC    IO
-------------  ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -------

       0         3,676 672,426,295.29   80.54 182,923.37    8.626    618   80.02 42.67    8.73  15.36   55.84    0.00   0.00    0.00
1 TO 24              2     431,400.00    0.05 215,700.00    7.225    606   79.45 29.07    0.00   0.00   51.23    0.00   0.00 100.00
25 TO 36             3     639,500.00    0.08 213,166.67    7.938    631   77.28 39.93    0.00   0.00   64.35    0.00   0.00 100.00
37 TO 60           521 160,349,980.87   19.21 307,773.48    7.764    659   80.61 43.32    2.12  16.70   38.33    0.00   0.00 100.00
61 +                 5   1,087,125.00    0.13 217,425.00    7.638    643   81.43 41.93   17.17   0.00   30.45    0.00   0.00 100.00
                 ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- ------
TOTAL:           4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00  19.46
                 ===== ==============  ====== ==========    =====    ===   ===== =====   =====  =====   =====    ====   ==== ======




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          -------------------------------------------------------------------------
                                                 WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
LIEN:           # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC  IO
-----           ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

1ST LIEN          3,747 805,760,512.23   96.51 215,041.50    8.349    625   79.43 42.75    7.71  15.52   53.93    0.00   0.00 20.17
SECOND LIENS
   WITH LTV
   BELOW 85%          1     298,367.60    0.04 298,367.60    8.650    785   70.63 45.45    0.00   0.00  100.00    0.00   0.00  0.00
SECOND LIENS
   WITH LTV
   85% - 90%          3     151,074.80    0.02  50,358.27   11.420    659   89.12 45.00   22.48   0.00   77.52    0.00   0.00  0.00
SECOND LIENS
   WITH LTV
   90.1% - 95%       13     631,539.14    0.08  48,579.93   11.183    666   94.83 42.20   16.13   5.12   56.63    0.00   0.00  0.00
SECOND LIENS
   WITH LTV
   ABOVE 95%        443  28,092,807.39    3.36  63,414.92   11.520    656   99.99 43.72    0.16  17.77    9.16    0.00   0.00  0.00
                  ----- --------------  ------ ----------   ------    ---   ----- -----   -----  -----  ------    ----   ---- -----
OTHER
TOTAL:            4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                  ===== ==============  ====== ==========   ======    ===   ===== =====   =====  =====  ======    ====   ==== =====




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          -------------------------------------------------------------------------
                                                 WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
PREPAYMENT:     # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC  IO
-----------     ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

NONE              1,199 216,979,402.64   25.99 180,966.97    8.805    624   80.89 42.82    8.88  18.67   56.58    0.00   0.00 14.29
6 MONTHS             15   3,489,710.89    0.42 232,647.39    8.529    639   77.65 43.09    0.00  37.63   44.63    0.00   0.00 32.86
1 YEAR              237  68,168,035.08    8.16 287,628.84    8.285    646   78.59 42.90    5.99  31.87   46.34    0.00   0.00 21.84
2 YEAR            1,682 372,728,762.98   44.64 221,598.55    8.235    628   80.10 42.87    7.79  12.27   47.47    0.00   0.00 23.92
3 YEAR            1,007 164,152,598.66   19.66 163,011.52    8.550    619   80.08 42.54    5.34  12.03   59.49    0.00   0.00 15.54
5 YEAR               59   7,862,879.93    0.94 133,269.15    8.849    580   76.52 41.38   12.28  13.45   83.65    0.00   0.00  7.73
OTHER                 8   1,552,910.98    0.19 194,113.87    9.363    602   78.05 46.02   13.69   0.00   53.09    0.00   0.00 11.59
                  ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
TOTAL:            4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                  ===== ==============  ====== ==========    =====    ===   ===== =====   =====  =====   =====    ====   ==== =====




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          -------------------------------------------------------------------------
                                                 WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
INDEX:          # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC  IO
------          ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

LIBOR - 6 MONTH   3,225 724,739,629.36   86.80 224,725.47    8.358    625   79.74 42.93    7.79  15.66   51.57    0.00   0.00 21.76
LIBOR - 1 MONTH
FIXED RATE          982 110,194,671.80   13.20 112,214.53    9.118    631   82.69 41.85    5.34  15.06   58.24    0.00   0.00  4.37
OTHER
                  ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
TOTAL:            4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                  ===== ==============  ====== ==========    =====    ===   ===== =====    ====  =====   =====    ====   ==== =====




                                                                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                                                          -------------------------------------------------------------------------
MORTGAGE                                         WA LOAN           WA AVE                NON -    NON    REFI     MI    NINA/
INSURANCE:     # LOANS    BALANCE $      %     BALANCE $    WAC    FICO  WA %LTV % DTI PRIMARY SF/PUD CASHOUT COVERED NO DOC  IO
------          ------- -------------- ------- ---------- -------- ------ ------- ----- ------- ------ ------- ------- ------ -----

80 PLUS LTV
WITH MI
80 PLUS LTV
   WITHOUT MI     1,129 234,651,247.47   28.10 207,839.90    8.739    622   88.94 42.64   14.54  13.41   66.91    0.00   0.00 15.64
BELOW 80 LTV
   WITH MI
NOT COVERED BY
   MI             3,078 600,283,053.69   71.90 195,023.73    8.348    628   76.69 42.84    4.70  16.43   46.79    0.00   0.00 20.96
OTHER
                  ----- --------------  ------ ----------    -----    ---   ----- -----   -----  -----   -----    ----   ---- -----
TOTAL:            4,207 834,934,301.16  100.00 198,463.11    8.458    626   80.13 42.79    7.46  15.58   52.45    0.00   0.00 19.46
                  ===== ==============  ====== ==========    =====    ===   ===== =====   =====  =====   =====    ====   ==== =====


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refer to important information and qualifications at the end of this material.



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MORGAN STANLEY
IXIS 2006-HE3 TERMSHEET
ALL RECORDS
4,207 RECORDS
BALANCE: 834,934,301

1. SILENT SECONDS TOTAL POOL



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                        AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                              NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                OF         DATE        DATE      GROSS   REMAINING    COMB     AVERAGE    PCT      PCT          PCT
                             MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO    CASHOUT  SINGLE   PCT   FULL
SILENT SECONDS TOTAL POOL      LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE     REFI   FAMILY   PUD   DOC
-------------------------    --------  -----------  ---------  --------  ---------  --------  --------  -------  ------  ----  -----

No                              2,990  545,227,101      65.30     8.696        348     80.13       609    71.44   79.30  5.44  45.78
Yes                             1,217  289,707,200      34.70     8.011        357     80.13       658    16.72   75.73  8.08  32.04
                                -----  -----------     ------     -----        ---     -----       ---    -----   -----  ----  -----
TOTAL:                          4,207  834,934,301     100.00     8.458        351     80.13       626    52.45   78.06  6.36  41.02
                                =====  ===========     ======     =====        ===     =====       ===    =====   =====  ====  =====


2. SILENT SECONDS GROUP 2 (THERE ARE NO GROUPS)

3. SILENT SECONDS NORTHERN CALIFORNIA



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                        AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                              NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                OF         DATE        DATE      GROSS   REMAINING    COMB     AVERAGE    PCT      PCT          PCT
SILENT SECONDS NORTHERN      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO    CASHOUT  SINGLE   PCT   FULL
CALIFORNIA                     LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE     REFI   FAMILY   PUD   DOC
-------------------------    --------  -----------  ---------  --------  ---------  --------  --------  -------  ------  ----  -----

No                                165   42,803,325      52.42     8.487        342     79.47       621    67.29   90.71  2.97  29.09
Yes                               111   38,856,943      47.58     7.755        357     79.99       663     9.14   90.96  2.99  10.12
                                  ---   ----------     ------     -----        ---     -----       ---    -----   -----  ----  -----
TOTAL:                            276   81,660,268     100.00     8.138        349     79.72       641    39.62   90.83  2.98  20.06
                                  ===   ==========     ======     =====        ===     =====       ===    =====   =====  ====  =====


4. SILENT SECONDS SOUTHERN CALIFORNIA



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                        AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                              NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                OF         DATE        DATE      GROSS   REMAINING    COMB     AVERAGE    PCT      PCT          PCT
SILENT SECONDS SOUTHERN      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO    CASHOUT  SINGLE   PCT   FULL
CALIFORNIA                     LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE     REFI   FAMILY   PUD   DOC
-------------------------    --------  -----------  ---------  --------  ---------  --------  --------  -------  ------  ----  -----

No                                432  112,472,005      59.39     8.390        339     80.59       622    67.36   75.43  4.92  41.00
Yes                               207   76,918,916      40.61     7.869        357     79.81       668    15.28   73.90  5.67  25.97
                                  ---  -----------     ------     -----        ---     -----       ---    -----   -----  ----  -----
TOTAL:                            639  189,390,922     100.00     8.178        346     80.28       641    46.21   74.81  5.23  34.90
                                  ===  ===========     ======     =====        ===     =====       ===    =====   =====  ====  =====


8/16/2006 10:32

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 1   ARM
 2   OWNER OCCUPIED
 3   PURCHASE
 4   FULL DOC.
 5   FIRST LIEN
 6   FIXED
 7   NON-OWNER
     OCCUPIED
 8   REFINANCING
 9   NON-FULL DOC.
10   SECOND LIEN

1  ARM
   OWNER OCCUPIED
   PURCHASE
   FULL DOC.
   FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500
 2  501-525          0.01%  0.00%  0.00%  0.00%  0.05%  0.10%  0.06%  0.00%  0.00%   0.00%             0.00%
 3  526-550          0.03%  0.00%  0.00%  0.00%  0.02%  0.11%  0.09%  0.03%  0.00%   0.00%             0.00%
 4  551-575          0.00%  0.00%  0.00%  0.00%  0.00%  0.07%  0.08%  0.23%  0.10%   0.00%             0.00%
 5  576-600          0.00%  0.00%  0.02%  0.00%  0.01%  0.96%  0.06%  0.15%  0.15%   0.11%             0.00%
 6  601-625          0.03%  0.00%  0.01%  0.00%  0.01%  2.53%  0.11%  0.02%  0.05%   0.03%             0.00%
 7  626-650          0.00%  0.00%  0.00%  0.02%  0.12%  1.95%  0.00%  0.07%  0.09%   0.01%             0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  1.03%  0.00%  0.03%  0.00%   0.00%             0.00%
 9  676-700          0.00%  0.00%  0.00%  0.04%  0.00%  0.49%  0.00%  0.03%  0.06%   0.04%             0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.06%  0.65%  0.02%  0.09%  0.10%   0.08%             0.00%


2  ARM
   OWNER OCCUPIED
   REFINANCING
   FULL DOC.
   FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500            0.02%  0.00%  0.00%  0.03%  0.03%  0.11%  0.00%  0.00%  0.00%   0.00%             0.00%
 2  501-525          0.28%  0.15%  0.41%  0.38%  0.52%  0.77%  0.43%  0.04%  0.00%   0.00%             0.00%
 3  526-550          0.19%  0.00%  0.16%  0.46%  0.53%  0.55%  0.56%  0.07%  0.00%   0.00%             0.00%
 4  551-575          0.13%  0.08%  0.12%  0.14%  0.71%  0.75%  0.74%  0.49%  0.06%   0.00%             0.00%
 5  576-600          0.12%  0.07%  0.09%  0.31%  0.39%  1.05%  0.26%  0.62%  0.11%   0.11%             0.00%
 6  601-625          0.16%  0.07%  0.06%  0.12%  0.25%  1.40%  0.59%  1.02%  0.53%   0.09%             0.00%
 7  626-650          0.18%  0.05%  0.08%  0.09%  0.13%  0.73%  0.52%  0.52%  0.48%   0.05%             0.00%
 8  651-675          0.05%  0.04%  0.04%  0.00%  0.04%  0.31%  0.16%  0.43%  0.17%   0.14%             0.00%
 9  676-700          0.06%  0.00%  0.00%  0.04%  0.05%  0.35%  0.07%  0.22%  0.03%   0.00%             0.00%
10  >700             0.00%  0.00%  0.03%  0.00%  0.00%  0.26%  0.06%  0.14%  0.05%   0.00%             0.00%


3  ARM
   OWNER OCCUPIED
   PURCHASE
   NON-FULL DOC.
   FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500
 2  501-525          0.00%  0.00%  0.01%  0.00%  0.00%  0.05%  0.00%  0.00%  0.00%   0.00%             0.00%
 3  526-550          0.00%  0.00%  0.02%  0.02%  0.03%  0.09%  0.09%  0.00%  0.00%   0.03%             0.00%
 4  551-575          0.00%  0.03%  0.02%  0.00%  0.00%  0.09%  0.14%  0.05%  0.00%   0.00%             0.00%
 5  576-600          0.00%  0.00%  0.00%  0.00%  0.00%  0.26%  0.06%  0.22%  0.01%   0.01%             0.00%
 6  601-625          0.00%  0.00%  0.01%  0.08%  0.07%  2.24%  0.20%  0.44%  0.09%   0.00%             0.00%
 7  626-650          0.00%  0.00%  0.03%  0.00%  0.00%  5.36%  0.05%  0.19%  0.19%   0.02%             0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.06%  5.09%  0.04%  0.20%  0.04%   0.00%             0.00%
 9  676-700          0.00%  0.00%  0.00%  0.05%  0.06%  3.53%  0.11%  0.20%  0.03%   0.03%             0.00%
10  >700             0.02%  0.00%  0.00%  0.00%  0.00%  4.96%  0.04%  0.02%  0.00%   0.10%             0.00%


4  ARM
   OWNER OCCUPIED
   REFINANCING
   NON-FULL DOC.
   FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500            0.02%  0.00%  0.02%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.00%             0.00%
 2  501-525          0.19%  0.01%  0.15%  0.31%  0.59%  0.25%  0.11%  0.00%  0.00%   0.00%             0.00%
 3  526-550          0.21%  0.15%  0.20%  0.50%  0.51%  0.61%  0.19%  0.00%  0.00%   0.00%             0.00%
 4  551-575          0.22%  0.02%  0.23%  0.21%  0.44%  0.93%  0.45%  0.14%  0.04%   0.00%             0.00%
 5  576-600          0.12%  0.06%  0.19%  0.20%  0.39%  1.22%  0.70%  0.58%  0.12%   0.00%             0.00%
 6  601-625          0.10%  0.17%  0.16%  0.27%  0.50%  1.04%  0.86%  1.26%  0.13%   0.02%             0.00%
 7  626-650          0.28%  0.03%  0.03%  0.12%  0.32%  1.59%  0.66%  0.50%  0.14%   0.00%             0.00%
 8  651-675          0.02%  0.05%  0.07%  0.04%  0.07%  1.53%  0.23%  0.63%  0.14%   0.01%             0.00%
 9  676-700          0.00%  0.00%  0.05%  0.06%  0.03%  0.74%  0.19%  0.16%  0.07%   0.00%             0.00%
10  >700             0.03%  0.00%  0.00%  0.00%  0.00%  0.31%  0.04%  0.04%  0.15%   0.07%             0.00%


SECOND LIENS

5  ARM
   OWNER OCCUPIED
   PURCHASE
   FULL DOC.
   SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


6  ARM
   OWNER OCCUPIED
   REFINANCING
   FULL DOC.
   SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


7  ARM
   OWNER OCCUPIED
   PURCHASE
   NON-FULL DOC.
   SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


8  ARM
   OWNER OCCUPIED
   REFINANCING
   NON-FULL DOC.
   SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10           11
             less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  greater than 100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----------------

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


9   ARM
    NON-OWNER OCCUPIED
    PURCHASE
    FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525
 3  526-550          0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%  0.00%   0.00% 0.00%
 4  551-575
 5  576-600          0.00%  0.00%  0.00%  0.00%  0.00%  0.07%  0.01%  0.06%  0.00%   0.00% 0.00%
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.20%  0.00%  0.01%  0.05%   0.00% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.02%  0.00%  0.06%  0.02%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.09%  0.02%  0.05%  0.06%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%  0.02%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.06%  0.06%  0.12%  0.18%   0.01% 0.00%


10  ARM
    NON-OWNER OCCUPIED
    REFINANCING
    FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525          0.02%  0.00%  0.00%  0.00%  0.03%  0.02%  0.01%  0.00%  0.00%   0.00% 0.00%
 3  526-550          0.00%  0.00%  0.01%  0.02%  0.02%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 4  551-575          0.00%  0.01%  0.02%  0.03%  0.00%  0.00%  0.02%  0.00%  0.00%   0.00% 0.00%
 5  576-600          0.08%  0.00%  0.00%  0.00%  0.00%  0.05%  0.02%  0.00%  0.00%   0.00% 0.00%
 6  601-625          0.07%  0.00%  0.00%  0.00%  0.04%  0.04%  0.01%  0.02%  0.04%   0.00% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.03%  0.04%  0.05%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.03%  0.00%  0.00%  0.05%  0.03%  0.01%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.02%  0.00%  0.09%  0.00%  0.14%  0.00%  0.01%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.02%  0.00%  0.03%   0.00% 0.00%


11  ARM
    NON-OWNER OCCUPIED
    PURCHASE
    NON-FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525
 3  526-550
 4  551-575          0.00%  0.00%  0.00%  0.00%  0.00%  0.05%  0.00%  0.00%  0.00%   0.00% 0.00%
 5  576-600          0.00%  0.00%  0.00%  0.00%  0.00%  0.07%  0.02%  0.06%  0.00%   0.00% 0.00%
 6  601-625          0.02%  0.00%  0.00%  0.00%  0.00%  0.01%  0.01%  0.08%  0.01%   0.00% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.10%  0.20%  0.28%  0.15%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.11%  0.00%  0.20%  0.09%   0.00% 0.00%
 9  676-700          0.01%  0.00%  0.00%  0.00%  0.00%  0.11%  0.02%  0.15%  0.11%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.02%  0.00%  0.20%  0.00%  0.04%  0.17%   0.02% 0.00%


12  ARM
    NON-OWNER OCCUPIED
    REFINANCING
    NON-FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525          0.00%  0.00%  0.00%  0.02%  0.00%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 3  526-550          0.00%  0.00%  0.04%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%   0.00% 0.00%
 4  551-575          0.03%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 5  576-600          0.00%  0.02%  0.00%  0.00%  0.03%  0.09%  0.00%  0.00%  0.00%   0.00% 0.00%
 6  601-625          0.03%  0.00%  0.04%  0.03%  0.00%  0.17%  0.06%  0.02%  0.00%   0.00% 0.00%
 7  626-650          0.06%  0.01%  0.01%  0.00%  0.01%  0.14%  0.15%  0.24%  0.03%   0.00% 0.00%
 8  651-675          0.04%  0.00%  0.00%  0.09%  0.03%  0.10%  0.17%  0.05%  0.00%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.04%  0.00%  0.01%  0.03%  0.05%  0.01%  0.00%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.02%  0.09%  0.05%  0.07%  0.03%   0.00% 0.00%


13  ARM
    NON-OWNER OCCUPIED
    PURCHASE
    FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


14  ARM
    NON-OWNER OCCUPIED
    REFINANCING
    FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


15  ARM
    NON-OWNER OCCUPIED
    PURCHASE
    NON-FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


16  ARM
    NON-OWNER OCCUPIED
    REFINANCING
    NON-FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


17  FIXED
    OWNER OCCUPIED
    PURCHASE
    FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525          0.00%  0.00%  0.00%  0.00%  0.00%  0.04%  0.02%  0.00%  0.00%   0.00% 0.00%
 3  526-550          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.02%  0.02%   0.00% 0.00%
 4  551-575          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.02% 0.00%
 5  576-600          0.00%  0.00%  0.00%  0.01%  0.00%  0.01%  0.00%  0.00%  0.00%   0.00% 0.00%
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.22%  0.00%  0.00%  0.00%   0.01% 0.00%
 7  626-650          0.02%  0.00%  0.00%  0.00%  0.00%  0.06%  0.00%  0.00%  0.01%   0.01% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.07%  0.00%  0.00%  0.01%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.04%  0.00%  0.00%  0.00%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.01%  0.08%  0.00%  0.00%  0.00%   0.01% 0.00%


18  FIXED
    OWNER OCCUPIED
    REFINANCING
    FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525          0.01%  0.03%  0.04%  0.01%  0.13%  0.08%  0.13%  0.00%  0.00%   0.00% 0.00%
 3  526-550          0.03%  0.00%  0.01%  0.03%  0.08%  0.12%  0.13%  0.03%  0.00%   0.00% 0.00%
 4  551-575          0.05%  0.02%  0.03%  0.01%  0.01%  0.11%  0.04%  0.17%  0.00%   0.00% 0.00%
 5  576-600          0.05%  0.03%  0.00%  0.05%  0.11%  0.05%  0.04%  0.25%  0.05%   0.09% 0.00%
 6  601-625          0.08%  0.02%  0.08%  0.01%  0.05%  0.22%  0.17%  0.06%  0.15%   0.07% 0.00%
 7  626-650          0.05%  0.02%  0.01%  0.02%  0.15%  0.28%  0.09%  0.24%  0.02%   0.02% 0.00%
 8  651-675          0.03%  0.11%  0.00%  0.04%  0.06%  0.17%  0.12%  0.08%  0.02%   0.00% 0.00%
 9  676-700          0.02%  0.02%  0.00%  0.01%  0.02%  0.07%  0.01%  0.05%  0.04%   0.02% 0.00%
10  >700             0.02%  0.00%  0.00%  0.01%  0.02%  0.02%  0.01%  0.00%  0.00%   0.00% 0.00%


19  FIXED
    OWNER OCCUPIED
    PURCHASE
    NON-FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600          0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.01%  0.00%   0.00% 0.00%
 6  601-625          0.02%  0.00%  0.00%  0.00%  0.00%  0.02%  0.00%  0.00%  0.00%   0.00% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.03%  0.00%  0.00%  0.00%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.09%  0.00%  0.00%  0.00%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.05%  0.00%  0.04%  0.00%  0.00%  0.00%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.15%  0.00%  0.00%  0.00%   0.00% 0.00%


20  FIXED
    OWNER OCCUPIED
    REFINANCING
    NON-FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <=500
 2  501-525          0.04%  0.00%  0.03%  0.04%  0.01%  0.01%  0.00%  0.00%  0.00%   0.00% 0.00%
 3  526-550          0.02%  0.02%  0.05%  0.11%  0.04%  0.09%  0.03%  0.00%  0.00%   0.00% 0.00%
 4  551-575          0.05%  0.00%  0.03%  0.01%  0.01%  0.03%  0.03%  0.02%  0.00%   0.00% 0.00%
 5  576-600          0.00%  0.01%  0.02%  0.02%  0.01%  0.07%  0.05%  0.03%  0.01%   0.00% 0.00%
 6  601-625          0.03%  0.04%  0.00%  0.00%  0.07%  0.08%  0.05%  0.04%  0.03%   0.00% 0.00%
 7  626-650          0.06%  0.00%  0.03%  0.06%  0.00%  0.34%  0.11%  0.00%  0.05%   0.02% 0.00%
 8  651-675          0.10%  0.02%  0.00%  0.03%  0.05%  0.11%  0.04%  0.10%  0.00%   0.00% 0.00%
 9  676-700          0.06%  0.01%  0.00%  0.01%  0.05%  0.12%  0.04%  0.03%  0.00%   0.00% 0.00%
10  >700             0.04%  0.03%  0.00%  0.11%  0.00%  0.01%  0.15%  0.06%  0.01%   0.00% 0.00%


21  FIXED
    OWNER OCCUPIED
    PURCHASE
    FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.01% 0.00%
 5  576-600          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.07% 0.00%
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.22% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.10% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.08% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.08% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.08% 0.00%


22  FIXED
    OWNER OCCUPIED
    REFINANCING
    FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%   0.03% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.03% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.02% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.02% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.04%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%


23  FIXED
    OWNER OCCUPIED
    PURCHASE
    NON-FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.04% 0.00%
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.29% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.85% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.59% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.27% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%   0.35% 0.00%


24  FIXED
    OWNER OCCUPIED
    REFINANCING
    NON-FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%   0.04% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%   0.06% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.02%   0.06% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.05% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.01% 0.00%


25  FIXED
    NON-OWNER OCCUPIED
    PURCHASE
    FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525          0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%  0.00%   0.00% 0.00%
 3  526-550
 4  551-575          0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 5  576-600
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%   0.00% 0.00%
 7  626-650
 8  651-675
 9  676-700
10  >700


26  FIXED
    NON-OWNER OCCUPIED
    REFINANCING
    FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525          0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%  0.00%   0.00% 0.00%
 3  526-550
 4  551-575          0.03%  0.00%  0.00%  0.02%  0.01%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 5  576-600          0.00%  0.00%  0.00%  0.01%  0.00%  0.02%  0.00%  0.00%  0.00%   0.00% 0.00%
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.03%  0.00%  0.01%  0.00%   0.00% 0.00%
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.01%  0.00%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.02%  0.01%  0.00%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.04%  0.00%  0.00%  0.00%   0.00% 0.00%
10  >700             0.02%  0.00%  0.00%  0.01%  0.00%  0.00%  0.00%  0.01%  0.00%   0.00% 0.00%


27  FIXED
    NON-OWNER OCCUPIED
    PURCHASE
    NON-FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.02%  0.00%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.03%  0.00%  0.00%  0.00%   0.00% 0.00%
 9  676-700
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.00%   0.00% 0.00%


28  FIXED
    NON-OWNER OCCUPIED
    REFINANCING
    NON-FULL DOC.
    FIRST LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575          0.00%  0.00%  0.00%  0.00%  0.01%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 5  576-600          0.00%  0.00%  0.00%  0.04%  0.00%  0.00%  0.01%  0.00%  0.00%   0.00% 0.00%
 6  601-625          0.00%  0.00%  0.01%  0.00%  0.00%  0.00%  0.03%  0.00%  0.00%   0.00% 0.00%
 7  626-650          0.01%  0.00%  0.01%  0.00%  0.00%  0.00%  0.01%  0.02%  0.00%   0.00% 0.00%
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.04%  0.01%  0.00%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.05%  0.00%  0.03%  0.00%  0.00%  0.00%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.01%  0.04%  0.00%  0.00%   0.00% 0.00%


29  FIXED
    NON-OWNER OCCUPIED
    PURCHASE
    FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.01% 0.00%
 7  626-650
 8  651-675
 9  676-700
10  >700


30  FIXED
    NON-OWNER OCCUPIED
    REFINANCING
    FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


31  FIXED
    NON-OWNER OCCUPIED
    PURCHASE
    NON-FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
 9  676-700          0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%   0.00% 0.00%
10  >700             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.01%   0.00% 0.00%


32  FIXED
    NON-OWNER OCCUPIED
    REFINANCING
    NON-FULL DOC.
    SECOND LIEN



                   1         2      3      4      5      6      7      8      9      10     11
             Less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
             ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

 1  <500
 2  501-525
 3  526-550
 4  551-575
 5  576-600
 6  601-625
 7  626-650
 8  651-675
 9  676-700
10  >700


FIRST LIENS (EXCL. MULTI-FAMILY)

CLTV (excl. SS)



    State  less than 55   56-60   61-65   66-70   71-75   76-80   81-85   86-90   91-95  96-100   >100
    -----  ------------  ------  ------  ------  ------  ------  ------  ------  ------  ------  ------

 1  AK             0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.00%   0.00%   0.00%   0.00%
 2  AL             0.00%   0.01%   0.00%   0.01%   0.01%   0.05%   0.08%   0.02%   0.00%   0.00%   0.00%
 3  AR             0.00%   0.00%   0.00%   0.00%   0.00%   0.12%   0.02%   0.03%   0.00%   0.00%   0.00%
 4  AZ             0.09%   0.08%   0.22%   0.29%   0.31%   1.85%   0.38%   0.46%   0.06%   0.03%   0.00%
 5  CA             1.37%   0.25%   0.61%   0.77%   1.54%  16.93%   2.49%   3.06%   1.20%   0.11%   0.00%
 6  CO             0.05%   0.00%   0.00%   0.05%   0.02%   0.52%   0.14%   0.02%   0.09%   0.02%   0.00%
 7  CT             0.03%   0.04%   0.04%   0.16%   0.18%   0.61%   0.19%   0.11%   0.06%   0.03%   0.00%
 8  DC             0.03%   0.02%   0.00%   0.00%   0.00%   0.16%   0.00%   0.00%   0.00%   0.00%   0.00%
 9  DE             0.00%   0.00%   0.02%   0.00%   0.00%   0.09%   0.03%   0.06%   0.00%   0.00%   0.00%
10  FL             0.47%   0.40%   0.56%   0.83%   1.43%   5.82%   1.12%   1.66%   0.71%   0.12%   0.00%
11  GA             0.03%   0.00%   0.02%   0.03%   0.06%   0.76%   0.22%   0.37%   0.08%   0.02%   0.00%
12  HI             0.04%   0.00%   0.14%   0.00%   0.03%   0.63%   0.09%   0.31%   0.00%   0.00%   0.00%
13  IA             0.03%   0.00%   0.00%   0.00%   0.00%   0.02%   0.06%   0.06%   0.00%   0.00%   0.00%
14  ID             0.00%   0.00%   0.00%   0.02%   0.00%   0.13%   0.06%   0.11%   0.01%   0.04%   0.00%
15  IL             0.04%   0.04%   0.07%   0.22%   0.34%   2.53%   0.66%   0.97%   0.27%   0.07%   0.00%
16  IN             0.00%   0.00%   0.00%   0.01%   0.02%   0.20%   0.11%   0.02%   0.06%   0.08%   0.00%
17  KS             0.01%   0.02%   0.02%   0.03%   0.02%   0.07%   0.03%   0.06%   0.00%   0.00%   0.00%
18  KY             0.00%   0.00%   0.00%   0.00%   0.03%   0.03%   0.04%   0.01%   0.01%   0.00%   0.00%
19  LA             0.00%   0.00%   0.00%   0.05%   0.01%   0.05%   0.07%   0.08%   0.00%   0.02%   0.00%
20  MA             0.07%   0.00%   0.07%   0.03%   0.25%   0.65%   0.29%   0.32%   0.22%   0.10%   0.00%
21  MD             0.12%   0.04%   0.23%   0.20%   0.33%   1.31%   0.27%   0.33%   0.16%   0.04%   0.00%
22  ME             0.00%   0.00%   0.00%   0.00%   0.00%   0.05%   0.01%   0.03%   0.07%   0.02%   0.00%
23  MI             0.01%   0.00%   0.06%   0.04%   0.09%   0.75%   0.25%   0.20%   0.04%   0.11%   0.00%
24  MN             0.02%   0.01%   0.00%   0.00%   0.02%   0.26%   0.00%   0.15%   0.00%   0.00%   0.00%
25  MO             0.00%   0.00%   0.02%   0.00%   0.05%   0.27%   0.24%   0.17%   0.07%   0.03%   0.00%
26  MS             0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.01%   0.02%   0.01%   0.00%
27  MT             0.00%   0.00%   0.00%   0.00%   0.04%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%
28  NC             0.00%   0.01%   0.03%   0.02%   0.01%   0.29%   0.09%   0.05%   0.01%   0.05%   0.00%
29  ND             0.00%   0.00%   0.00%   0.00%   0.00%   0.01%   0.00%   0.00%   0.04%   0.00%   0.00%
30  NE             0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.00%   0.01%   0.00%   0.00%
31  NH             0.00%   0.00%   0.00%   0.00%   0.02%   0.09%   0.00%   0.00%   0.03%   0.00%   0.00%
32  NJ             0.14%   0.00%   0.03%   0.21%   0.39%   0.82%   0.16%   0.17%   0.15%   0.00%   0.00%
33  NM             0.00%   0.00%   0.00%   0.00%   0.02%   0.16%   0.05%   0.05%   0.00%   0.02%   0.00%
34  NV             0.04%   0.02%   0.03%   0.08%   0.15%   1.35%   0.16%   0.21%   0.20%   0.00%   0.00%
35  NY             0.23%   0.05%   0.00%   0.16%   0.13%   1.42%   0.43%   0.17%   0.10%   0.00%   0.00%
36  OH             0.00%   0.01%   0.00%   0.03%   0.01%   0.24%   0.06%   0.11%   0.08%   0.02%   0.00%
37  OK             0.00%   0.00%   0.00%   0.01%   0.01%   0.08%   0.00%   0.03%   0.02%   0.00%   0.00%
38  OR             0.01%   0.01%   0.05%   0.03%   0.08%   0.53%   0.11%   0.08%   0.05%   0.00%   0.00%
39  PA             0.03%   0.02%   0.06%   0.10%   0.13%   0.62%   0.35%   0.16%   0.16%   0.04%   0.00%
40  RI             0.05%   0.02%   0.02%   0.24%   0.10%   0.47%   0.14%   0.17%   0.03%   0.03%   0.00%
41  SC             0.00%   0.00%   0.00%   0.00%   0.00%   0.04%   0.01%   0.02%   0.01%   0.00%   0.00%
42  SD             0.00%   0.00%   0.01%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%
43  TN             0.02%   0.02%   0.00%   0.02%   0.02%   0.37%   0.09%   0.19%   0.06%   0.04%   0.00%
44  TX             0.01%   0.03%   0.07%   0.03%   0.28%   1.87%   0.20%   0.26%   0.18%   0.07%   0.00%
45  UT             0.03%   0.00%   0.04%   0.00%   0.02%   0.07%   0.07%   0.11%   0.00%   0.02%   0.00%
46  VA             0.10%   0.11%   0.02%   0.14%   0.13%   0.88%   0.41%   0.21%   0.05%   0.00%   0.00%
47  VT             0.00%   0.01%   0.00%   0.00%   0.00%   0.02%   0.00%   0.00%   0.00%   0.00%   0.00%
48  WA             0.01%   0.03%   0.07%   0.02%   0.15%   1.12%   0.20%   0.14%   0.02%   0.05%   0.00%
49  WI             0.00%   0.00%   0.02%   0.00%   0.02%   0.20%   0.03%   0.02%   0.04%   0.02%   0.00%
50  WY             0.00%   0.01%   0.00%   0.00%   0.00%   0.03%   0.00%   0.00%   0.00%   0.00%   0.00%
51               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!


CLTV (excl. SS)



Start LTV  less than 55  56-60  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  >100
---------  ------------  -----  -----  -----  -----  -----  -----  -----  -----  ------  ----

<55
56-60
61-65
66-70
71-75              0.00%  0.00%  0.00%  0.00%  0.04%  0.00%  0.00%  0.00%  0.00%   0.00% 0.00%
76-80
81-85
86-90              0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.02%  0.00%   0.00% 0.00%
91-95              0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.08%   0.00% 0.00%
96-100             0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%   3.36% 0.00%
>100


FIRST LIENS -MULTI FAMILY

CLTV (excl. SS)



    State  less than 55   56-60   61-65   66-70   71-75   76-80   81-85   86-90   91-95  96-100   >100
    -----  ------------  ------  ------  ------  ------  ------  ------  ------  ------  ------  ------

 1  CA             0.18%   0.08%   0.00%   0.11%   0.20%   1.21%   0.25%   0.27%   0.03%   0.00%   0.00%
 2  CT             0.02%   0.00%   0.03%   0.03%   0.00%   0.20%   0.00%   0.00%   0.00%   0.00%   0.00%
 3  DC             0.00%   0.00%   0.00%   0.00%   0.00%   0.04%   0.00%   0.00%   0.00%   0.00%   0.00%
 4  DE             0.01%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%
 5  FL             0.04%   0.00%   0.00%   0.00%   0.03%   0.25%   0.07%   0.16%   0.02%   0.00%   0.00%
 6  HI             0.00%   0.00%   0.05%   0.00%   0.00%   0.06%   0.00%   0.00%   0.00%   0.00%   0.00%
 7  ID             0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.00%   0.00%   0.00%   0.00%
 8  IL             0.07%   0.01%   0.03%   0.15%   0.13%   0.61%   0.25%   0.15%   0.03%   0.00%   0.00%
 9  IN             0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%
10  LA             0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.01%   0.00%   0.00%   0.00%   0.00%
11  MA             0.00%   0.02%   0.00%   0.04%   0.04%   0.23%   0.00%   0.06%   0.02%   0.00%   0.00%
12  MI             0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.03%   0.00%   0.00%   0.00%
13  MO             0.00%   0.00%   0.00%   0.00%   0.00%   0.01%   0.02%   0.01%   0.00%   0.00%   0.00%
14  NJ             0.02%   0.00%   0.03%   0.05%   0.02%   0.12%   0.09%   0.00%   0.06%   0.00%   0.00%
15  NV             0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.00%   0.00%   0.00%
16  NY             0.20%   0.05%   0.04%   0.21%   0.23%   1.10%   0.23%   0.13%   0.08%   0.00%   0.00%
17  OH             0.00%   0.00%   0.00%   0.00%   0.00%   0.01%   0.02%   0.01%   0.01%   0.00%   0.00%
18  OR             0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.04%   0.00%   0.00%   0.00%
19  PA             0.00%   0.00%   0.01%   0.00%   0.02%   0.05%   0.05%   0.01%   0.00%   0.00%   0.00%
20  RI             0.00%   0.00%   0.03%   0.05%   0.00%   0.32%   0.03%   0.07%   0.00%   0.00%   0.00%
21  TN             0.00%   0.00%   0.00%   0.00%   0.00%   0.02%   0.00%   0.01%   0.01%   0.00%   0.00%
22  TX             0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.05%   0.01%   0.00%   0.00%   0.00%
23  WA             0.00%   0.00%   0.00%   0.03%   0.00%   0.02%   0.00%   0.00%   0.00%   0.00%   0.00%
24  WI             0.00%   0.00%   0.00%   0.00%   0.01%   0.07%   0.00%   0.01%   0.00%   0.00%   0.00%
25               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
26               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
27               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
28               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
29               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
30               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
31               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
32               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
33               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
34               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
35               #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
36
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This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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ALL AVERAGE ARE WTG AVERAGES.



                        ORIGINATOR/  ORIGINATOR/  ORIGINATOR/  ORIGINATOR/     ORIGINATOR/     ORIGINATOR/
                          SOURCE 1     SOURCE 2     SOURCE 3     SOURCE 4       SOURCE 5         SOURCE 6     AGGREGATE
                        -----------  -----------  -----------  -----------  ----------------  -------------  ----------

Description (expected
   bbg ticker)
Originator              First NLC    New Century  Accredited   Encore       Master Financial  Rose Mortgage
Dealer Shelf
Dealer
                                                                             Master
Largest Servicer        Saxon(100%)  Saxon(100%)  Saxon(100%)  Saxon(100%)   Financial(100%)    Saxon(100%)  Saxon(94%)
FICO avg                        626          631          621          628               638            613         626
FICO stdev                    55.26        62.11        69.44        57.89             54.54          61.62       59.49
FICO < 500 %                   0.00         0.00         0.00         0.00              0.00           0.00        0.00
FICO < 560 %                  12.70        12.67        23.40        13.41              8.87          21.90       14.86
10th Percentile FICO
90th Percentile FICO
CLTV avg                      80.80        80.03        77.27        78.88             83.97          77.92       80.13
CLTV >80%                     30.64        26.58        21.76        39.67             46.06          32.66       31.56
SS CLTV                       87.96        88.37        85.03        83.79             90.81          79.27       86.82
% With Silent 2nds            37.50        42.53        39.60        25.81             35.06           7.93       34.70
10th Percentile CLTV
90th Percentile CLTV
Full Doc %                    35.00        50.74        35.63        49.37             43.18          42.58       41.02
Loan Bal avg             176,537.84   233,088.92   195,624.15   256,534.79        234,797.46     240,361.39  198,463.11
DTI %                         43.55        42.23        41.90        42.77             42.07          43.01       42.79
DTI >45%                      53.47        44.27        24.41        47.51             33.50          47.84       45.22
Purch %                       44.11        48.13        39.82        30.53             59.60          12.86       42.77
Cash Out %                    50.06        46.76        59.14        63.97             38.89          79.78       52.45
Fxd %                         14.96         1.97        16.96        12.50             15.43          20.28       13.20
3 yr ARM >= %                 32.42         5.81        27.60         2.30              2.31           2.22       17.91
WAC avg                       8.498        8.259        8.489        8.270             8.506          8.536       8.458
WAC stdev                     1.470        1.186        1.057        1.151             1.857          1.645       1.438
1st Lien %                    95.07        99.53       100.00        99.87             88.63          97.49       96.51
MI %                           0.00         0.00         0.00         0.00              0.00           0.00        0.00
MI Insurer                        N            N            N            N                 N              N           N
CA %                          30.33        38.68        14.51        46.41             63.09           0.00       32.46
Sng Fam %                     86.89        70.84        69.09        68.84             76.52          70.06       78.06
Invt Prop %                    4.68         7.06         5.83         8.84              0.63           5.48        5.95
MH %                           0.00         0.00         0.00         0.00              0.00           0.00        0.00
IO %                          18.86        23.04        12.89        16.96             23.92          16.43       19.46
2yr IO%                        0.06         0.16         0.00         0.00              0.00           0.00        0.05
IO non-Full Doc %             14.61        10.39         7.39         8.42             13.26           7.79       12.21
2-4 Fam %                      7.91         6.10        15.62        12.73              3.58          24.00        9.35
Prim Occ %                    95.23        87.24        93.86        89.99             97.46          92.08       92.54
<$100K Bal %                  11.29         4.85         6.54         3.55              6.60           2.48        8.23
2-yr Prepay Penalty %         39.83        62.61        12.04        44.68             76.72          39.02       44.64
% of 40-year loans             0.00         0.00         0.00         0.00              0.00           0.00        0.00
Initial Target OC %
Total C/E% Aaa
Total C/E% Aa2
Total C/E% A2
Mth 37 Loss Trig
Moody's Base Case Loss
S&P single-B FF/LS
Fitch single-B FF/LS








ORIGINATOR/ SOURCE      WA LTV  WA CLTV  WA SS CLTV  FICO   WAC   % BAL.  PURCH %  INVT PROP %
------------------      ------  -------  ----------  ----  -----  ------  -------  -----------

Accredited               77.27    77.27       85.03   621  8.489   12.16    39.82         5.83
Chapel                   76.20    77.17       91.00   617  7.759    0.48    59.47         0.00
Encore                   78.78    78.88       83.79   628  8.270    9.80    30.53         8.84
First Banc               74.36    79.62       86.22   615  8.293    1.51    58.71         2.77
First Horizon            84.05    84.05       88.63   623  9.156    3.85    54.26        16.54
First NLC                76.85    80.80       87.96   626  8.498   39.01    44.11         4.68
Flex Point               70.12    70.12       70.12   598  8.896    0.58     3.99        19.78
Funding America          68.15    81.43       87.30   631  8.789    0.72    64.69         6.29
Lenders Direct           71.58    80.22       87.12   624  8.485    1.05    44.46         3.54
Lime Financial           78.32    84.47       92.52   640  8.393    1.52    58.91         3.19
Mandalay                 63.59    85.28       90.83   667  8.633    0.65    62.42         6.96
Master Financial         74.87    83.97       90.81   638  8.506    5.96    59.60         0.63
Maxim                    74.76    84.37       88.22   600  9.151    0.21    52.46         4.47
New Century              79.65    80.03       88.37   631  8.259   16.42    48.13         7.06
Quick Loan               72.46    72.46       72.46   588  8.186    1.02     0.00         9.10
Rose Mortgage            75.92    77.92       79.27   613  8.536    5.07    12.86         5.48
                         -----    -----       -----   ---  -----  ------    -----         ----
Total:                   77.35    80.13       86.82   626  8.458  100.00    42.77         5.95
                         =====    =====       =====   ===  =====  ======    =====         ====


                                    % WITH
ORIGINATOR/ SOURCE      1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
------------------      ----------  ------  -----  ----------  -----  -----  ---------  ---------

Accredited                  100.00   39.60  14.51       35.63  12.89  41.90      24.41       0.00
Chapel                       98.80   69.15  39.53       26.55  47.20  44.49      61.16       0.00
Encore                       99.87   25.81  46.41       49.37  16.96  42.77      47.51       0.00
First Banc                   93.42   33.91  61.21       43.04  43.84  42.62      38.97       0.00
First Horizon               100.00   25.12   8.27       61.07  16.10  40.28      34.03       0.00
First NLC                    95.07   37.50  30.33       35.00  18.86  43.55      53.47       0.00
Flex Point                  100.00    0.00  30.51       62.31  15.16  42.96      43.43       0.00
Funding America              83.41   29.58  42.85       46.28  20.80  41.04      39.21       0.00
Lenders Direct               87.29   34.34  41.65       23.42  20.91  43.75      45.75       0.00
Lime Financial               92.28   42.40  43.04       15.68  35.02  43.84      65.13       0.00
Mandalay                     72.89   28.67  83.38       32.84  35.25  45.24      55.69       0.00
Master Financial             88.63   35.06  63.09       43.18  23.92  42.07      33.50       0.00
Maxim                        87.99   19.25   0.00       61.96   0.00  39.18      32.44       0.00
New Century                  99.53   42.53  38.68       50.74  23.04  42.23      44.27       0.00
Quick Loan                  100.00    0.00  64.96       46.83  11.00  42.28      41.82       0.00
Rose Mortgage                97.49    7.93   0.00       42.58  16.43  43.01      47.84       0.00
                            ------   -----  -----       -----  -----  -----      -----       ----
Total:                       96.51   34.70  32.46       41.02  19.46  42.79      45.22       0.00
                            ======   =====  =====       =====  =====  =====      =====       ====





DOCUMENTATION           WA LTV  WA CLTV  WA SS CLTV  FICO   WAC   % BAL.  PURCH %  INVT PROP %
-------------           ------  -------  ----------  ----  -----  ------  -------  -----------

Full Documentation       78.51    80.02       85.23   607  8.246   41.02    31.16         5.09
Not Full Documentation   76.55    80.21       87.93   639  8.606   58.98    50.85         6.54
                         -----    -----       -----   ---  -----  ------    -----         ----
TOTAL:                   77.35    80.13       86.82   626  8.458  100.00    42.77         5.95
                         =====    =====       =====   ===  =====  ======    =====         ====


                                    % WITH
DOCUMENTATION           1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
-------------           ----------  ------  -----  ----------  -----  -----  ---------  ---------

Full Documentation           98.06   27.11  24.08      100.00  17.67  42.19      45.98       0.00
Not Full Documentation       95.42   39.98  38.29        0.00  20.71  43.20      44.70       0.00
                             -----   -----  -----      ------  -----  -----      -----       ----
TOTAL:                       96.51   34.70  32.46       41.02  19.46  42.79      45.22       0.00
                             =====   =====  =====      ======  =====  =====      =====       ====





INTEREST ONLY           WA LTV  WA CLTV  WA SS CLTV  FICO   WAC   % BAL.  PURCH %  INVT PROP %
-------------           ------  -------  ----------  ----  -----  ------  -------  -----------

2yr IO                   79.45    79.45       89.21   606  7.225    0.05    48.77         0.00
3yr IO                   77.28    77.28       91.16   631  7.938    0.08    35.65         0.00
5yr IO                   80.61    80.61       92.15   659  7.764   19.21    58.64         1.11
NON-IO                   76.57    80.02       85.55   618  8.626   80.54    38.97         7.12
Other IO                 81.43    81.43       85.70   643  7.638    0.13    55.07         0.00
                         -----    -----       -----   ---  -----  ------    -----         ----
TOTAL:                   77.35    80.13       86.82   626  8.458  100.00    42.77         5.95
                         =====    =====       =====   ===  =====  ======    =====         ====


                                    % WITH
INTEREST ONLY           1ST LIEN %  S.2NDS   CA%   FULL DOC %    IO%    DTI%  DTI% > 45  % WITH MI
-------------           ----------  ------  -----  ----------  ------  -----  ---------  ---------

2yr IO                      100.00   48.77   0.00       51.23  100.00  29.07       0.00       0.00
3yr IO                      100.00   69.43  33.78       35.65  100.00  39.93       0.00       0.00
5yr IO                      100.00   59.07  55.09       37.04  100.00  43.32      45.11       0.00
NON-IO                       95.66   28.86  27.09       41.93    0.00  42.67      45.37       0.00
Other IO                    100.00   25.64  29.44       62.10  100.00  41.93      17.17       0.00
                            ------   -----  -----       -----  ------  -----      -----       ----
TOTAL:                       96.51   34.70  32.46       41.02   19.46  42.79      45.22       0.00
                            ======   =====  =====       =====  ======  =====      =====       ====





FICO                    WA LTV  WA CLTV  WA SS CLTV  FICO   WAC   % BAL.  PURCH %  INVT PROP %
----                    ------  -------  ----------  ----  -----  ------  -------  -----------

0-499
500-559                  73.56    73.61       74.10   531  9.339   14.86     8.96         1.53
560 - 599                78.86    79.39       81.10   581  8.732   14.85    17.89         4.23
600 - 639                77.96    81.46       88.70   620  8.359   29.88    44.78         4.99
640 - 679                77.50    81.68       91.52   657  8.186   23.41    56.05         8.24
680 +                    78.09    82.00       93.17   716  7.999   17.00    72.26         9.83
                         -----    -----       -----   ---  -----  ------    -----         ----
TOTAL:                   77.35    80.13       86.82   626  8.458  100.00    42.77         5.95
                         =====    =====       =====   ===  =====  ======    =====         ====


                                    % WITH
FICO                    1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
----                    ----------  ------  -----  ----------  -----  -----  ---------  ---------

0-499
500-559                      99.94    3.28  18.09       60.47   0.38  42.29      43.34       0.00
560 - 599                    99.34   10.27  22.11       53.86   3.31  42.49      44.97       0.00
600 - 639                    95.62   37.10  33.45       44.87  23.20  42.71      47.95       0.00
640 - 679                    94.77   50.70  39.92       27.80  27.89  43.34      47.38       0.00
680 +                        94.98   57.22  42.07       24.21  32.08  42.86      39.34       0.00
                             -----   -----  -----       -----  -----  -----      -----       ----
TOTAL:                       96.51   34.70  32.46       41.02  19.46  42.79      45.22       0.00
                             =====   =====  =====       =====  =====  =====      =====       ====





LOW BALANCE             WA LTV  WA CLTV  WA SS CLTV  FICO    WAC   % BAL.  PURCH %  INVT PROP %
-----------             ------  -------  ----------  ----  ------  ------  -------  -----------

<80,000                  54.45    86.91       89.56   620  10.240    4.78    57.65        10.98
80,000-100,000           69.69    82.70       86.59   615   9.286    3.45    45.21         9.71
100,000>                 78.83    79.68       86.69   627   8.334   91.77    41.91         5.54
                         -----    -----       -----   ---  ------  ------    -----        -----
TOTAL:                   77.35    80.13       86.82   626   8.458  100.00    42.77         5.95
                         =====    =====       =====   ===  ======  ======    =====        =====


                                    % WITH
LOW BALANCE             1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
-----------             ----------  ------  -----  ----------  -----  -----  ---------  ---------

<80,000                      59.43   14.28  12.15       47.73   0.38  40.10      35.98       0.00
80,000-100,000               83.73   22.25  13.35       52.88   2.78  40.04      38.75       0.00
100,000>                     98.92   36.23  34.24       40.22  21.08  43.03      45.95       0.00
                             -----   -----  -----       -----  -----  -----      -----       ----
TOTAL:                       96.51   34.70  32.46       41.02  19.46  42.79      45.22       0.00
                             =====   =====  =====       =====  =====  =====      =====       ====




LIEN POSITION           WA LTV  WA CLTV  WA SS CLTV  FICO    WAC   % BAL.  PURCH %  INVT PROP %
-------------           ------  -------  ----------  ----  ------  ------  -------  -----------

1st Lien                 79.43    79.43       86.36   625   8.349   96.51    41.14         6.16
2nd Lien                 20.01    99.52       99.52   657  11.483    3.49    87.82         0.12
                         -----    -----       -----   ---  ------  ------    -----         ----
TOTAL:                   77.35    80.13       86.82   626   8.458  100.00    42.77         5.95
                         =====    =====       =====   ===  ======  ======    =====         ====


                                    % WITH
LIEN POSITION           1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
-------------           ----------  ------  -----  ----------  -----  -----  ---------  ---------

1st Lien                    100.00   35.95  31.77       41.68  20.17  42.75      45.06       0.00
2nd Lien                      0.00    0.00  51.50       22.77   0.00  43.71      49.58       0.00
                            ------   -----  -----       -----  -----  -----      -----       ----
TOTAL:                       96.51   34.70  32.46       41.02  19.46  42.79      45.22       0.00
                            ======   =====  =====       =====  =====  =====      =====       ====





WACLTV                  WA SS CLTV  WAFICO    WAC   % BAL.  PURCH %  INVT PROP %  1ST LIEN %
------                  ----------  ------  ------  ------  -------  -----------  ----------

80-85%                       85.32     606   8.668  10.52%    14.43        11.54      100.00
85-90%                       90.02     627   8.684  11.75%    26.82        13.06       99.85
90-95%                       94.78     643   8.969   4.70%    39.42        18.50       98.39
95-100%                      99.87     652  10.898   4.59%    77.80         0.00       26.72


                        % WITH
WACLTV                  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
------                  ------  -----  ----------  -----  -----  ---------  ---------

80-85%                    5.79  26.09       47.64  14.31  42.14      39.50       0.00
85-90%                    5.74  28.54       46.88  17.99  43.00      47.26       0.00
90-95%                    2.56  26.50       59.42  15.66  42.79      51.28       0.00
95-100%                   0.00  40.15       35.71   0.86  43.50      48.64       0.00




                                                                                 % WITH
SSCLTV                  WAFICO   WAC   % BAL.  PURCH %  INVT PROP %  1ST LIEN %  S.2NDS
------                  ------  -----  ------  -------  -----------  ----------  ------

80-85%                     604  8.637   9.97%     9.37        11.01      100.00    0.68
85-90%                     629  8.630  11.64%    23.82        12.93       99.84    4.86
90-95%                     650  8.636   6.50%    43.95        14.91       98.84   29.52
95-100%                    657  8.369  36.66%    83.30         0.22       90.82   87.48



SSCLTV                   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
------                  -----  ----------  -----  -----  ---------  ---------

80-85%                  26.95       49.31  14.16  42.07      39.38       0.00
85-90%                  28.97       45.21  17.81  42.97      46.97       0.00
90-95%                  28.35       50.99  22.87  42.90      50.95       0.00
95-100%                 41.11       32.91  28.94  43.85      49.30       0.00





COUPON-ARM              WA LTV  WA CLTV  WA SS CLTV  WAFICO    WAC   % BAL.  PURCH %  INVT PROP %
----------              ------  -------  ----------  ------  ------  ------  -------  -----------

<8%                      78.87    78.87       88.82     648   7.461   44.14    51.08         3.05
8-9%                     79.68    79.68       87.07     621   8.530   31.90    42.35         5.20
9-10%                    81.22    81.22       84.74     594   9.507   18.09    33.82        10.86
10-11%                   83.11    83.11       84.67     573  10.473    5.01    38.18        19.66
11-12%                   73.04    73.04       73.96     547  11.341    0.71    26.91         6.15
12-13%                   88.43    88.43       88.43     624  12.451    0.16    54.69        52.73
13-14%
>14%


                                    % WITH
COUPON-ARM              1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%    DTI%  DTI% > 45  % WITH MI
----------              ----------  ------  -----  ----------  -----  -----  ---------  ---------

<8%                         100.00   50.61  44.39       46.50  33.61  43.01      45.63       0.00
8-9%                        100.00   38.19  30.64       34.15  16.40  42.78      44.53       0.00
9-10%                       100.00   19.51  20.47       31.74   8.51  43.33      50.63       0.00
10-11%                      100.00   10.87  11.68       41.25   3.07  42.24      42.21       0.00
11-12%                      100.00    6.35  13.20       56.50   0.00  39.47      30.58       0.00
12-13%                      100.00    0.00   0.00        9.87   0.00  40.58      21.19       0.00
13-14%
>14%





COUPON-FIXED RATE       WA LTV  WA CLTV  WA SS CLTV  WAFICO    WAC   % BAL.  PURCH %  INVT PROP %
-----------------       ------  -------  ----------  ------  ------  ------  -------  -----------

<8%                      73.70    73.70       76.16     653   7.267   34.74    12.52         5.08
8-9%                     78.67    79.16       81.65     611   8.531   22.73     9.60         7.58
9-10%                    72.03    83.48       84.07     598   9.581   12.12    24.02         9.31
10-11%                   41.36    91.80       92.21     637  10.594   10.07    62.02         2.03
11-12%                   28.37    95.74       95.90     634  11.573   13.78    78.87         1.48
12-13%                   20.30    99.74       99.74     634  12.427    4.97    87.02         0.00
13-14%                   21.89    99.71       99.71     628  13.410    1.49    90.83         2.91
>14%                     20.00   100.00      100.00     637  14.151    0.10   100.00         0.00


                                    % WITH
COUPON-FIXED RATE       1ST LIEN %  S.2NDS   CA%   FULL DOC %   IO%   DTI%  DTI% > 45  % WITH MI
-----------------       ----------  ------  -----  ----------  ----  -----  ---------  ---------

<8%                         100.00   13.29  23.19       62.43  9.38  41.23      37.74       0.00
8-9%                         98.72   12.56   6.14       61.05  2.97  40.85      36.68       0.00
9-10%                        85.68    6.36  12.96       58.08  3.56  41.04      37.50       0.00
10-11%                       36.81    2.30  38.48       35.64  0.00  42.37      34.80       0.00
11-12%                       15.79    2.23  54.28       21.98  0.00  44.19      55.88       0.00
12-13%                        0.66    0.00  32.90       14.52  0.00  44.42      57.18       0.00
13-14%                        2.91    0.00   0.00        6.76  0.00  43.33      55.94       0.00
>14%                          0.00    0.00   0.00        0.00  0.00  47.49     100.00       0.00




                           % OF
TOP 20 CITIES           TOTAL BAL  # OF LOANS   LOAN BAL   AVG LOAN BAL  WA LTV  % WITH 2ND  WAFICO
-------------           ---------  ----------  ----------  ------------  ------  ----------  ------

Los Angeles                 2.79%          61  23,310,338       382,137   78.09       45.32     645
Chicago                     2.35%         103  19,614,507       190,432   79.96       30.36     629
Miami                       2.01%          87  16,759,565       192,639   78.07       32.02     626
Las Vegas                   1.82%          73  15,177,706       207,914   81.22       52.65     639
Phoenix                     1.25%          67  10,435,216       155,749   78.59       36.13     628
Sacramento                  0.83%          25   6,895,218       275,809   83.03       57.81     645
San Jose                    0.78%          15   6,520,393       434,693   81.02       57.03     650
Corona                      0.74%          17   6,206,774       365,104   82.58       47.37     658
Riverside                   0.66%          20   5,536,129       276,806   81.35       41.19     653
Orlando                     0.66%          30   5,477,533       182,584   80.08       24.58     612
Brooklyn                    0.65%          14   5,448,071       389,148   73.37       64.03     650
San Diego                   0.63%          18   5,286,062       293,670   76.30       69.80     644
Bronx                       0.63%          12   5,261,489       438,457   81.88       32.81     649
Stockton                    0.57%          20   4,759,207       237,960   81.08       51.84     642
Tampa                       0.56%          32   4,661,247       145,664   80.76       31.19     625
Anaheim                     0.56%          12   4,656,776       388,065   83.86       28.47     651
Bakersfield                 0.54%          22   4,501,895       204,632   78.60       23.34     609
Lancaster                   0.52%          18   4,350,764       241,709   79.63       54.42     641
Glendale                    0.51%          20   4,221,919       211,096   80.18       24.53     646
Kissimmee                   0.50%          20   4,188,317       209,416   81.19       44.96     627




                           % OF
TOP 10 CITIES           TOTAL BAL  # OF LOANS    LOAN BAL   AVG LOAN BAL  WA LTV  % WITH 2ND  WAFICO
-------------           ---------  ----------  -----------  ------------  ------  ----------  ------

California                 32.46%         915  271,051,190       296,231   80.11       47.41     641
Florida                    14.27%         666  119,157,019       178,914   79.54       32.69     622
Illinois                    6.86%         323   57,253,943       177,257   81.62       33.67     622
New York                    5.00%         139   41,732,227       300,232   76.69       38.19     650
Arizona                     3.83%         175   31,983,040       182,760   78.87       33.48     612
Texas                       3.19%         267   26,645,529        99,796   81.65       27.05     615
Maryland                    3.08%         115   25,717,947       223,634   78.32       26.54     613
New Jersey                  2.48%          78   20,673,940       265,051   77.01       14.20     607
Massachusetts               2.47%          90   20,615,447       229,061   81.80       30.79     617
Nevada                      2.38%          93   19,876,786       213,729   81.56       50.88     636




                             HYBRIDS       FIXED
                           ----------   ----------

Proportion of Total Pool        86.80        13.20
WA LOAN BALANCE            224,725.47   112,214.53
WA FICO                           625          631
WA INITIAL CLTV %               79.74        82.69
PREPAYMENT PENALTY
None                            25.66        28.12
2 Years                         49.77        10.88
3 Years                         15.68        45.82
OCCUPANCY
Owner/2nd                       93.92        94.93
Investor                         6.08         5.07
DOCUMENTATION
Full                            39.64        50.05
Non-Full                        60.36        49.95


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                                                                                            1ST
                                                                  1ST LIEN               LIEN FRM
TOP LEVEL STATS             ALL LOANS       MH         2NDS      BAL < 50K   FICO N/A    PURCHASE
---------------            -----------   --------   ----------   ---------   --------   ----------

Total Collateral           834,934,301          0   29,173,789   2,230,194          0   10,007,915
Percent of Deal                 100.00%      0.00%        3.49%       0.27%      0.00%        1.20%
Statistical Cut-Off Date      4/1/2006   4/1/2006     4/1/2006    4/1/2006   4/1/2006     4/1/2006

AVERAGES BY GROUP
WALA                                 3          0            4           3          0            3
FICO                               626          0          657         595          0          651
DTI                              42.79%      0.00%       43.71%      34.08%      0.00%       38.98%
LTV                              80.13%      0.00%       99.52%      75.65%      0.00%       79.90%
CLTV                             87.42%      0.00%       99.52%      76.53%      0.00%       91.41%
Coupon                           8.458%     0.000%      11.483%      9.903%     0.000%       8.392%
Balance                        198,463          0       63,421      43,729          0      161,418

PCT BY GROUP
Prefunded
Delinquent at closing
Full Doc %                       41.02%      0.00%       22.77%      76.20%      0.00%       60.42%
Owner Occupied %                 92.54%      0.00%       99.38%      73.28%      0.00%       91.94%
First Lien %                     96.51%      0.00%        0.00%     100.00%      0.00%      100.00%
Loans w/ MI                       0.00%      0.00%        0.00%       0.00%      0.00%        0.00%
Loans w/ Simult 2nds             37.72%      0.00%        0.00%       4.39%      0.00%       62.09%
First Time Borrowers             23.78%      0.00%       53.72%      16.09%      0.00%       51.00%
Stated Docs w/ W2                   --         --           --          --         --           --

STATS ONLY FOR ARMS
Max Rate                        15.071%     0.000%       0.000%     16.707%     0.000%       0.000%
Margin                           6.361%     0.000%       0.000%      6.516%     0.000%       0.000%
Initial Cap                      2.501%     0.000%       0.000%      2.704%     0.000%       0.000%
Periodic Cap                     1.347%     0.000%       0.000%      1.214%     0.000%       0.000%
Avg Reset Freq (mo)                  6          0            0           6          0            0

FICO
< 500                             0.00%      0.00%        0.00%       0.00%      0.00%        0.00%
500 - 549                        12.02%      0.00%        0.25%      25.12%      0.00%        9.99%
550 - 599                        17.69%      0.00%        2.80%      33.08%      0.00%        5.57%
600 - 649                        37.05%      0.00%       47.36%      27.03%      0.00%       34.08%
650 - 699                        23.11%      0.00%       35.54%       8.61%      0.00%       29.01%
700 - 749                         7.31%      0.00%        9.17%       4.07%      0.00%       14.84%
750 - 799                         2.71%      0.00%        4.09%       2.09%      0.00%        6.50%
800 +                             0.12%      0.00%        0.80%       0.00%      0.00%        0.00%

DTI
<25                               3.97%      0.00%        2.32%      22.21%      0.00%       14.02%
25 - 29.99                        3.79%      0.00%        2.51%      10.34%      0.00%       10.23%
30 - 34.99                        6.60%      0.00%        3.64%      17.37%      0.00%       11.37%
35 - 39.99                       12.53%      0.00%       12.41%      17.34%      0.00%        6.57%
40 - 44.99                       27.85%      0.00%       29.53%      20.73%      0.00%       25.31%
45 - 49.99                       35.41%      0.00%       42.30%       7.56%      0.00%       25.55%
50 - 54.99                        8.91%      0.00%        6.47%       4.46%      0.00%        6.94%
55 - 59.99                        0.94%      0.00%        0.81%       0.00%      0.00%        0.00%
60 +                              0.00%      0.00%        0.00%       0.00%      0.00%        0.00%

CLTV
<=60                              5.05%      0.00%        0.00%      12.75%      0.00%        3.00%
60.01 - 65                        2.76%      0.00%        0.00%       5.30%      0.00%        0.00%
65.01 - 70                        4.50%      0.00%        0.00%       9.56%      0.00%        4.53%
70.01 - 75                        7.20%      0.00%        1.02%       8.81%      0.00%        1.70%
75.01 - 80                       48.93%      0.00%        0.00%      25.72%      0.00%       75.78%
80.01 - 85                       10.52%      0.00%        0.00%      19.08%      0.00%        3.25%
85.01 - 90                       11.75%      0.00%        0.52%      11.20%      0.00%        5.22%
90.01 - 95                        4.70%      0.00%        2.16%       3.65%      0.00%        2.92%
95.01 - 100                       4.59%      0.00%       96.29%       3.92%      0.00%        3.60%
> 100                             0.00%      0.00%        0.00%       0.00%      0.00%        0.00%

CLTV SIMULT SECOND
<=60                              4.98%      0.00%        0.00%      12.75%      0.00%        3.00%
60.01 - 65                        2.76%      0.00%        0.00%       5.30%      0.00%        0.00%
65.01 - 70                        4.42%      0.00%        0.00%       9.56%      0.00%        4.53%
70.01 - 75                        7.00%      0.00%        1.02%       8.81%      0.00%        0.98%
75.01 - 80                       13.07%      0.00%        0.00%      21.33%      0.00%       16.86%
80.01 - 85                        9.97%      0.00%        0.00%      19.08%      0.00%        3.25%
85.01 - 90                       11.61%      0.00%        0.52%      11.20%      0.00%        6.74%
90.01 - 95                        6.55%      0.00%        2.16%       3.65%      0.00%        9.17%
95.01 - 100                      39.63%      0.00%       96.29%       8.31%      0.00%       55.47%
> 100                             0.00%      0.00%        0.00%       0.00%      0.00%        0.00%

PRODUCT
< 2 yr Fixed Term                 0.07%      0.00%        0.00%       0.00%      0.00%        0.00%
2 yr fixed hybrid                68.83%      0.00%        0.00%      32.22%      0.00%        0.00%
3 yr fixed hybrid                17.44%      0.00%        0.00%      16.88%      0.00%        0.00%
5 yr or longer hybrid             0.47%      0.00%        0.00%       1.57%      0.00%        0.00%
Fixed Rate                       13.20%      0.00%      100.00%      49.33%      0.00%      100.00%

I/O TERM
No IO Term                       80.54%      0.00%      100.00%     100.00%      0.00%       94.56%
2 yr                              0.05%      0.00%        0.00%       0.00%      0.00%        0.00%
3 yr                              0.08%      0.00%        0.00%       0.00%      0.00%        0.00%
5 yr                             19.21%      0.00%        0.00%       0.00%      0.00%        5.44%
> 5 yr                            0.13%      0.00%        0.00%       0.00%      0.00%        0.00%

LOAN BALANCE
< 50,000                          1.11%      0.00%       24.18%     100.00%      0.00%        1.86%
50,000 - 74,999                   2.80%      0.00%       28.61%       0.00%      0.00%        8.00%
75,000 - 99,999                   4.32%      0.00%       18.74%       0.00%      0.00%        7.79%
100,000 - 199,999                27.15%      0.00%       27.45%       0.00%      0.00%       41.51%
200,000 - 499,999                53.60%      0.00%        1.02%       0.00%      0.00%       17.79%
500,000 - 999,999                10.90%      0.00%        0.00%       0.00%      0.00%       23.05%
1,000,000 -                       0.12%      0.00%        0.00%       0.00%      0.00%        0.00%

AMORTIZATION TERM
< 15 years                        0.06%      0.00%        0.00%       2.13%      0.00%        0.00%
15 yr                             0.23%      0.00%        0.64%       8.33%      0.00%        0.41%
20 yr                             0.24%      0.00%        0.48%       3.64%      0.00%        0.00%
25 yr                             0.03%      0.00%        0.00%       2.23%      0.00%        0.00%
30 yr                            66.65%      0.00%       98.88%      81.97%      0.00%       64.29%
40 yr                            32.76%      0.00%        0.00%       1.70%      0.00%       35.30%
50 yr                             0.02%      0.00%        0.00%       0.00%      0.00%        0.00%

MATURITY TERM
< 15 years                        0.06%      0.00%        0.00%       2.13%      0.00%        0.00%
15 yr                             3.10%      0.00%       81.80%       8.33%      0.00%        0.41%
20 yr                             0.24%      0.00%        0.48%       3.64%      0.00%        0.00%
25 yr                             0.03%      0.00%        0.00%       2.23%      0.00%        0.00%
30 yr                            96.58%      0.00%       17.72%      83.67%      0.00%       99.59%
40 yr                             0.00%      0.00%        0.00%       0.00%      0.00%        0.00%

PROPERTY TYPE
Single Family                    76.71%      0.00%       76.38%      93.50%      0.00%       64.09%
PUD                               6.36%      0.00%        5.20%       0.00%      0.00%        4.54%
Multi Family                      9.35%      0.00%        9.56%       2.14%      0.00%       29.03%
Condo, Townhouse                  7.59%      0.00%        8.87%       4.36%      0.00%        2.34%
MH                                0.00%      0.00%        0.00%       0.00%      0.00%        0.00%

LOAN PURPOSE
Purchase                         42.77%      0.00%       87.82%      35.69%      0.00%      100.00%
Cash Out Refi                    52.45%      0.00%       11.47%      62.14%      0.00%        0.00%
Non Cash Out Refi                 4.78%      0.00%        0.70%       2.17%      0.00%        0.00%

GEOGRAPHIC DISTRIBUTION
AK                                0.02%      0.00%        0.00%       0.00%      0.00%        0.00%
AL                                0.18%      0.00%        0.15%       6.22%      0.00%        0.58%
AR                                0.18%      0.00%        0.08%       3.78%      0.00%        0.00%
AZ                                3.83%      0.00%        2.08%       0.00%      0.00%        0.00%
CA - N                            9.78%      0.00%       12.28%       0.00%      0.00%        1.66%
CA - S                           22.68%      0.00%       39.22%       2.01%      0.00%       12.98%
CO                                0.96%      0.00%        1.48%       0.00%      0.00%        0.00%
CT                                1.78%      0.00%        1.08%       0.00%      0.00%        3.78%
DC                                0.24%      0.00%        0.00%       0.00%      0.00%        0.00%
DE                                0.21%      0.00%        0.13%       0.00%      0.00%        0.00%
FL                               14.27%      0.00%       15.97%       4.47%      0.00%        7.60%
GA                                1.60%      0.00%        0.52%       1.84%      0.00%        0.00%
HI                                1.36%      0.00%        0.21%       0.00%      0.00%        0.00%
IA                                0.17%      0.00%        0.06%       2.05%      0.00%        0.00%
ID                                0.40%      0.00%        0.00%       0.00%      0.00%        0.60%
IL                                6.86%      0.00%        5.98%       0.00%      0.00%        0.78%
IN                                0.52%      0.00%        0.33%       8.52%      0.00%        0.00%
KS                                0.26%      0.00%        0.00%       4.03%      0.00%        1.60%
KY                                0.11%      0.00%        0.05%       4.07%      0.00%        0.41%
LA                                0.30%      0.00%        0.18%       1.82%      0.00%        0.00%
MA                                2.47%      0.00%        1.34%       0.00%      0.00%        0.00%
MD                                3.08%      0.00%        1.53%       0.00%      0.00%        0.00%
ME                                0.19%      0.00%        0.00%       0.00%      0.00%        0.00%
MI                                1.61%      0.00%        0.81%       4.39%      0.00%        2.72%
MN                                0.47%      0.00%        0.09%       0.00%      0.00%        1.59%
MO                                0.90%      0.00%        0.21%       7.34%      0.00%        0.67%
MS                                0.06%      0.00%        0.15%       0.00%      0.00%        2.98%
MT                                0.04%      0.00%        0.00%       0.00%      0.00%        0.00%
NC                                0.57%      0.00%        0.18%       2.24%      0.00%        2.30%
ND                                0.05%      0.00%        0.00%       0.00%      0.00%        0.00%
NE                                0.04%      0.00%        0.09%       0.00%      0.00%        0.00%
NH                                0.14%      0.00%        0.00%       0.00%      0.00%        1.68%
NJ                                2.48%      0.00%        0.30%       0.00%      0.00%        0.00%
NM                                0.32%      0.00%        0.32%       0.00%      0.00%        0.00%
NV                                2.38%      0.00%        3.23%       0.00%      0.00%        0.00%
NY                                5.00%      0.00%        1.08%       1.57%      0.00%       32.49%
OH                                0.59%      0.00%        0.11%       4.37%      0.00%        1.05%
OK                                0.14%      0.00%        0.00%       8.52%      0.00%        0.00%
OR                                1.00%      0.00%        0.15%       0.00%      0.00%        0.00%
PA                                1.84%      0.00%        0.68%       9.55%      0.00%        1.31%
RI                                1.82%      0.00%        1.71%       0.00%      0.00%        0.00%
SC                                0.08%      0.00%        0.00%       0.00%      0.00%        0.00%
SD                                0.01%      0.00%        0.00%       0.00%      0.00%        0.00%
TN                                0.86%      0.00%        0.00%       5.44%      0.00%        1.88%
TX                                3.19%      0.00%        3.43%      15.61%      0.00%       15.27%
UT                                0.35%      0.00%        0.00%       0.00%      0.00%        1.47%
VA                                2.10%      0.00%        1.54%       2.17%      0.00%        3.63%
VT                                0.02%      0.00%        0.00%       0.00%      0.00%        0.00%
WA                                1.95%      0.00%        2.59%       0.00%      0.00%        0.00%
WI                                0.47%      0.00%        0.65%       0.00%      0.00%        0.97%
WV                                0.00%      0.00%        0.00%       0.00%      0.00%        0.00%
WY                                0.04%      0.00%        0.00%       0.00%      0.00%        0.00%
Unknown or Other                  0.00%      0.00%        0.00%       0.00%      0.00%        0.00%


                               1ST
                            LIEN FRM      ARM I/O      ARM I/O    ARM NON I/O   ARM NON I/O
TOP LEVEL STATS               REFI       PURCHASE       REFI        PUCHASE         REFI
---------------            ----------   ----------   ----------   -----------   -----------

Total Collateral           71,012,967   94,527,049   63,168,972   226,982,616   340,060,993
Percent of Deal                  8.51%       11.32%        7.57%        27.19%        40.73%
Statistical Cut-Off Date     4/1/2006     4/1/2006     4/1/2006      4/1/2006      4/1/2006

AVERAGES BY GROUP
WALA                                3            4            3             3             3
FICO                              618          670          642           650           593
DTI                             41.47%       44.19%       42.01%        43.16%        42.59%
LTV                             76.17%       80.56%       80.91%        82.00%        77.79%
CLTV                            77.23%       98.89%       85.69%        96.24%        79.64%
Coupon                          8.248%       7.800%       7.728%        8.399%        8.603%
Balance                       154,376      298,193      317,432       209,008       209,526

PCT BY GROUP
Prefunded
Delinquent at closing
Full Doc %                      59.79%       31.75%       44.74%        28.73%        48.18%
Owner Occupied %                93.11%       97.54%       98.50%        88.10%        92.31%
First Lien %                   100.00%      100.00%      100.00%       100.00%       100.00%
Loans w/ MI                      0.00%        0.00%        0.00%         0.00%         0.00%
Loans w/ Simult 2nds             6.18%       92.57%       25.14%        73.45%        10.06%
First Time Borrowers             0.94%       55.47%        0.35%        52.75%         1.38%
Stated Docs w/ W2                  --           --           --            --            --

STATS ONLY FOR ARMS
Max Rate                        0.000%      14.605%      14.363%       15.191%       15.252%
Margin                          0.000%       6.256%       6.314%        6.315%        6.430%
Initial Cap                     0.000%       2.557%       2.532%        2.500%        2.480%
Periodic Cap                    0.000%       1.351%       1.325%        1.364%        1.339%
Avg Reset Freq (mo)                 0            6            6             6             6

FICO
< 500                            0.00%        0.00%        0.00%         0.00%         0.00%
500 - 549                       16.14%        0.00%        0.34%         2.74%        23.93%
550 - 599                       19.74%        0.74%        5.42%        10.54%        30.66%
600 - 649                       35.08%       37.11%       55.23%        41.13%        30.54%
650 - 699                       22.49%       37.41%       32.87%        28.99%        12.27%
700 - 749                        5.10%       16.61%        4.59%        12.26%         2.01%
750 - 799                        1.45%        7.74%        1.13%         4.29%         0.59%
800 +                            0.00%        0.39%        0.41%         0.05%         0.00%

DTI
<25                              6.88%        1.17%        3.09%         3.36%         4.56%
25 - 29.99                       5.33%        1.15%        4.85%         3.65%         4.02%
30 - 34.99                       7.13%        3.64%        8.65%         5.07%         8.06%
35 - 39.99                      15.39%       12.56%       15.07%        11.45%        12.36%
40 - 44.99                      26.37%       33.55%       28.52%        29.90%        25.01%
45 - 49.99                      29.11%       41.61%       33.90%        36.78%        34.07%
50 - 54.99                       9.49%        5.23%        5.93%         8.80%        10.71%
55 - 59.99                       0.30%        1.08%        0.00%         1.00%         1.21%
60 +                             0.00%        0.00%        0.00%         0.00%         0.00%

CLTV
<=60                            13.83%        0.00%        4.88%         0.56%         8.15%
60.01 - 65                       4.22%        0.00%        2.31%         0.47%         5.16%
65.01 - 70                       8.48%        0.41%        3.07%         0.65%         8.02%
70.01 - 75                      10.32%        1.06%        5.42%         1.33%        13.19%
75.01 - 80                      25.15%       90.52%       38.96%        75.14%        30.11%
80.01 - 85                      16.39%        2.27%       16.50%         4.49%        15.61%
85.01 - 90                      14.55%        3.84%       21.45%         9.75%        14.06%
90.01 - 95                       4.56%        1.90%        6.89%         5.81%         4.63%
95.01 - 100                      2.51%        0.00%        0.52%         1.80%         1.09%
> 100                            0.00%        0.00%        0.00%         0.00%         0.00%

CLTV SIMULT SECOND
<=60                            13.26%        0.00%        4.88%         0.46%         8.15%
60.01 - 65                       4.22%        0.00%        2.31%         0.47%         5.16%
65.01 - 70                       8.48%        0.00%        3.07%         0.56%         8.02%
70.01 - 75                      10.65%        0.00%        5.42%         1.27%        12.99%
75.01 - 80                      20.43%        1.13%       14.08%         6.04%        20.37%
80.01 - 85                      16.39%        1.45%       16.50%         2.69%        15.71%
85.01 - 90                      14.91%        3.48%       21.45%         8.32%        14.65%
90.01 - 95                       5.77%        5.56%       10.52%         7.88%         5.66%
95.01 - 100                      5.88%       88.38%       21.77%        72.30%         9.31%
> 100                            0.00%        0.00%        0.00%         0.00%         0.00%

PRODUCT
< 2 yr Fixed Term                0.00%        0.00%        0.00%         0.12%         0.08%
2 yr fixed hybrid                0.00%       87.90%       78.54%        83.85%        74.01%
3 yr fixed hybrid                0.00%       11.57%       19.25%        15.88%        25.43%
5 yr or longer hybrid            0.00%        0.53%        2.21%         0.15%         0.48%
Fixed Rate                     100.00%        0.00%        0.00%         0.00%         0.00%

I/O TERM
No IO Term                      93.99%        0.00%        0.00%       100.00%       100.00%
2 yr                             0.00%        0.22%        0.35%         0.00%         0.00%
3 yr                             0.00%        0.24%        0.65%         0.00%         0.00%
5 yr                             5.54%       98.90%       98.75%         0.00%         0.00%
> 5 yr                           0.47%        0.63%        0.25%         0.00%         0.00%

LOAN BALANCE
< 50,000                         1.29%        0.00%        0.00%         0.27%         0.15%
50,000 - 74,999                  5.00%        0.08%        0.00%         2.20%         1.65%
75,000 - 99,999                 11.27%        0.65%        0.43%         4.32%         3.27%
100,000 - 199,999               37.11%       12.15%        9.86%        27.36%        31.86%
200,000 - 499,999               40.71%       70.71%       64.22%        55.41%        53.92%
500,000 - 999,999                4.62%       16.42%       23.92%        10.44%         9.15%
1,000,000 -                      0.00%        0.00%        1.58%         0.00%         0.00%

AMORTIZATION TERM
< 15 years                       0.70%        0.00%        0.00%         0.00%         0.00%
15 yr                            2.41%        0.00%        0.00%         0.00%         0.00%
20 yr                            2.61%        0.00%        0.00%         0.00%         0.00%
25 yr                            0.35%        0.00%        0.00%         0.00%         0.00%
30 yr                           78.18%      100.00%      100.00%        52.06%        55.83%
40 yr                           15.76%        0.00%        0.00%        47.85%        44.17%
50 yr                            0.00%        0.00%        0.00%         0.09%         0.00%

MATURITY TERM
< 15 years                       0.70%        0.00%        0.00%         0.00%         0.00%
15 yr                            2.75%        0.00%        0.00%         0.00%         0.00%
20 yr                            2.61%        0.00%        0.00%         0.00%         0.00%
25 yr                            0.35%        0.00%        0.00%         0.00%         0.00%
30 yr                           93.60%      100.00%      100.00%       100.00%       100.00%
40 yr                            0.00%        0.00%        0.00%         0.00%         0.00%

PROPERTY TYPE
Single Family                   83.81%       71.07%       78.22%        72.08%        80.00%
PUD                              3.37%        7.85%        7.46%         7.43%         5.80%
Multi Family                     9.25%        8.46%        7.23%        10.14%         8.89%
Condo, Townhouse                 3.56%       12.63%        7.09%        10.35%         5.31%
MH                               0.00%        0.00%        0.00%         0.00%         0.00%

LOAN PURPOSE
Purchase                         0.00%      100.00%        0.00%       100.00%         0.00%
Cash Out Refi                   85.66%        0.00%       92.06%         0.00%        92.80%
Non Cash Out Refi               14.34%        0.00%        7.94%         0.00%         7.20%

GEOGRAPHIC DISTRIBUTION
AK                               0.00%        0.00%        0.00%         0.06%         0.00%
AL                               0.83%        0.00%        0.00%         0.20%         0.11%
AR                               0.05%        0.00%        0.00%         0.49%         0.08%
AZ                               2.52%        4.03%        6.11%         3.34%         4.22%
CA - N                           3.17%       19.98%       13.37%        10.83%         6.99%
CA - S                          10.87%       39.07%       37.54%        20.82%        17.95%
CO                               1.43%        0.74%        0.82%         0.95%         0.95%
CT                               1.95%        0.13%        0.37%         1.80%         2.47%
DC                               0.00%        0.00%        0.37%         0.23%         0.37%
DE                               0.00%        0.00%        0.40%         0.07%         0.38%
FL                              12.94%       11.50%       12.38%        17.68%        13.45%
GA                               1.89%        1.32%        1.57%         1.70%         1.69%
HI                               0.81%        1.70%        1.82%         1.30%         1.47%
IA                               0.11%        0.00%        0.00%         0.14%         0.30%
ID                               0.75%        0.15%        0.00%         0.56%         0.38%
IL                               7.50%        3.03%        2.23%         6.96%         8.84%
IN                               1.57%        0.00%        0.00%         0.78%         0.41%
KS                               0.23%        0.16%        0.00%         0.18%         0.39%
KY                               0.00%        0.00%        0.33%         0.06%         0.15%
LA                               1.30%        0.00%        0.00%         0.24%         0.29%
MA                               3.48%        0.56%        0.96%         1.76%         3.71%
MD                               3.01%        2.10%        6.25%         1.11%         4.32%
ME                               0.00%        0.00%        0.38%         0.24%         0.24%
MI                               2.18%        0.26%        0.23%         1.81%         2.03%
MN                               0.39%        0.30%        0.00%         0.45%         0.62%
MO                               1.67%        0.10%        0.00%         1.08%         1.07%
MS                               0.10%        0.00%        0.00%         0.00%         0.03%
MT                               0.00%        0.00%        0.00%         0.00%         0.09%
NC                               1.27%        0.00%        0.00%         0.83%         0.51%
ND                               0.00%        0.00%        0.00%         0.08%         0.08%
NE                               0.00%        0.00%        0.00%         0.00%         0.09%
NH                               0.24%        0.00%        0.00%         0.28%         0.05%
NJ                               4.33%        0.70%        1.78%         1.61%         3.54%
NM                               0.12%        0.39%        0.00%         0.30%         0.42%
NV                               1.60%        4.30%        2.94%         2.33%         1.94%
NY                               9.79%        4.58%        3.92%         5.21%         3.70%
OH                               1.50%        0.10%        0.63%         0.59%         0.57%
OK                               0.38%        0.00%        0.00%         0.35%         0.04%
OR                               0.41%        0.78%        0.32%         0.56%         1.72%
PA                               3.34%        0.09%        0.67%         1.98%         2.26%
RI                               1.49%        0.29%        3.01%         1.91%         2.11%
SC                               0.18%        0.10%        0.00%         0.16%         0.03%
SD                               0.12%        0.00%        0.00%         0.00%         0.00%
TN                               0.89%        0.08%        0.00%         1.33%         0.97%
TX                              11.32%        0.83%        0.00%         3.32%         2.28%
UT                               0.00%        0.00%        0.00%         0.77%         0.31%
VA                               2.63%        1.62%        0.47%         1.48%         2.84%
VT                               0.00%        0.14%        0.00%         0.00%         0.02%
WA                               1.24%        0.85%        1.14%         1.49%         2.86%
WI                               0.39%        0.00%        0.00%         0.62%         0.58%
WV                               0.00%        0.00%        0.00%         0.00%         0.00%
WY                               0.00%        0.00%        0.00%         0.00%         0.10%
Unknown or Other                 0.00%        0.00%        0.00%         0.00%         0.00%


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independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

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FICO



(US$)                            <= 550          551 - 575         576-600          601- 620          621-640           641-660
-----                       ---------------   --------------   --------------   ---------------   ---------------   ---------------

COMBINED LTV
<= 60%                      $ 11,836,119.25   $ 5,314,654.84   $ 4,751,304.93   $  5,971,365.48   $  4,772,020.81   $  4,644,789.22
61% - 65%                   $  9,548,545.64   $ 3,681,715.67   $ 2,737,456.61   $  1,970,853.30   $  2,400,169.81   $  1,007,724.04
66% - 70%                   $ 16,264,164.76   $ 3,407,242.98   $ 5,310,010.98   $  3,502,510.42   $  2,898,670.68   $    661,393.07
71% - 75%                   $ 21,552,423.94   $ 9,782,546.65   $ 7,842,457.36   $  6,229,988.26   $  6,648,054.18   $  1,856,738.13
76% - 80%                   $ 23,297,557.74   $16,273,035.37   $21,830,023.04   $ 13,858,776.87   $ 18,318,809.64   $ 16,248,728.11
81% - 85%                   $ 14,888,648.65   $12,186,814.98   $10,256,008.87   $ 12,691,121.02   $ 13,648,162.06   $  8,447,361.05
86% - 90%                   $  1,682,001.35   $ 8,394,442.60   $15,595,057.59   $ 20,065,027.21   $ 15,027,109.01   $ 14,999,284.00
91% - 95%                   $    411,313.21   $ 2,041,830.43   $ 4,028,640.10   $  9,167,270.78   $  9,922,597.99   $  8,403,713.22
96% - 100%                  $  2,538,703.48   $ 2,542,251.63   $15,476,199.08   $ 39,715,111.60   $ 63,632,441.94   $ 55,511,061.51
> 100%
LIEN
1st                         $101,947,955.05   $63,506,721.10   $86,943,943.14   $109,918,637.36   $129,422,206.70   $105,639,902.51
2nd                         $     71,522.97   $   117,814.05   $   883,215.42   $  3,253,387.58   $  7,845,829.42   $  6,140,889.84
JUNIOR LIEN(S) (CLTVS)
<= 80%                      $ 82,498,811.33   $38,459,195.51   $42,471,252.92   $ 31,533,494.33   $ 35,037,725.12   $ 24,419,372.57
81% - 85%                   $ 14,888,648.65   $12,186,814.98   $10,256,008.87   $ 12,691,121.02   $ 13,648,162.06   $  8,447,361.05
86% - 90%                   $  1,682,001.35   $ 8,394,442.60   $15,595,057.59   $ 20,065,027.21   $ 15,027,109.01   $ 14,999,284.00
91% - 95%                   $    411,313.21   $ 2,041,830.43   $ 4,028,640.10   $  9,167,270.78   $  9,922,597.99   $  8,403,713.22
96% - 100%                  $  2,538,703.48   $ 2,542,251.63   $15,476,199.08   $ 39,715,111.60   $ 63,632,441.94   $ 55,511,061.51
> 100%
ORIG. LOAN BALANCE
< $100,000                  $ 10,178,521.99   $ 6,053,127.77   $ 7,602,238.91   $  8,915,071.02   $ 12,397,834.05   $  9,074,875.08
$100,000 - $150,000         $ 21,349,191.83   $11,543,271.07   $14,341,758.84   $ 13,606,037.36   $ 14,719,244.59   $ 12,303,647.36
$151,000 - $200,000         $ 21,999,787.28   $10,651,083.13   $15,980,895.39   $ 16,412,853.01   $ 15,761,532.80   $ 11,980,911.07
$201,000 - $250,000         $ 15,313,907.47   $ 9,732,577.55   $12,773,670.44   $ 15,711,069.13   $ 19,269,648.72   $ 14,005,017.08
$251,000 - $300,000         $ 12,656,468.67   $ 7,316,088.40   $ 9,614,603.57   $ 15,458,442.96   $ 18,154,629.46   $ 12,540,851.76
$301,000 - $350,000         $  8,430,741.19   $ 7,712,044.78   $ 6,752,456.59   $  9,756,358.08   $ 11,490,984.00   $ 10,316,078.72
$351,000 - $400,000         $  5,310,874.93   $ 1,889,729.67   $ 4,913,040.92   $  7,458,470.51   $  6,724,560.76   $ 10,758,869.01
$401,000 - $450,000         $  2,966,648.52   $ 2,535,865.04   $ 6,037,677.40   $  4,639,760.13   $ 11,952,223.25   $ 11,887,641.64
$451,000 - $500,000         $    965,629.87   $ 1,395,135.13   $ 4,309,302.25   $  8,096,342.79   $  9,147,015.16   $  7,203,509.47
> $500,000                  $  2,847,706.27   $ 4,795,612.61   $ 5,501,514.25   $ 13,117,619.95   $ 17,650,363.33   $ 11,709,391.16
LOAN PURPOSE
Purchase                    $  8,008,450.35   $ 7,698,075.72   $20,615,992.57   $ 42,788,232.20   $ 69,804,892.01   $ 58,865,416.07
Refinance: Cash Out         $ 88,215,591.38   $51,841,917.91   $62,514,667.73   $ 61,964,176.20   $ 62,395,531.51   $ 48,091,346.25
Refinance: Rate Term        $  5,795,436.29   $ 4,084,541.52   $ 4,696,498.26   $  8,419,616.54   $  5,067,612.60   $  4,824,030.03
DOCUMENTATION TYPE
Full                        $ 61,092,631.98   $36,046,956.85   $47,973,030.05   $ 60,076,838.80   $ 50,862,053.48   $ 32,811,093.75
Reduced                     $  3,631,231.40   $ 3,563,416.64   $ 3,530,128.00   $  7,687,278.50   $  6,210,028.89   $  3,449,544.84
Stated                      $ 37,295,614.64   $24,014,161.66   $36,324,000.51   $ 45,407,907.64   $ 80,195,953.75   $ 75,520,153.76
OCCUPANCY
Owner-Occupied              $100,172,371.23   $61,629,032.50   $82,312,713.24   $105,695,664.51   $129,438,286.79   $100,622,437.87
Second Home                 $    239,959.67   $   648,945.87   $   996,863.80   $  2,121,341.46   $    755,722.87   $  2,876,870.19
Investment Property         $  1,607,147.12   $ 1,346,556.78   $ 4,517,581.52   $  5,355,018.97   $  7,074,026.46   $  8,281,484.29
PROPERTY TYPE
Single-Family Residence     $ 83,783,118.77   $55,576,545.41   $73,935,045.59   $ 92,005,140.14   $106,608,399.87   $ 84,051,023.65
PUD                         $  7,603,134.48   $ 3,175,725.63   $ 4,354,465.56   $  6,766,457.01   $  9,141,827.48   $  7,178,886.98
Condominium                 $  4,231,283.51   $ 1,944,009.48   $ 2,859,902.71   $  6,120,475.42   $  9,246,830.40   $  9,829,095.25
Co-Op
CondOp
Multi-Family                $  6,401,941.26   $ 2,928,254.63   $ 6,677,744.70   $  8,279,952.37   $ 12,270,978.37   $ 10,721,786.47
Manufactured Housing
DTI
< 30%                       $ 10,068,060.67   $ 5,225,575.31   $ 8,183,889.55   $  9,502,231.50   $  8,324,102.50   $  6,250,052.21
30% - 34%                   $  8,089,973.31   $ 6,134,351.62   $ 7,063,565.21   $  7,330,789.28   $  9,788,825.56   $  6,734,529.69
35% - 39%                   $ 14,335,998.96   $ 7,142,513.89   $ 9,685,331.74   $ 18,640,606.78   $ 17,697,439.73   $ 12,574,481.96
40% - 44%                   $ 25,301,411.23   $18,174,447.34   $21,661,681.29   $ 24,349,140.49   $ 34,976,229.06   $ 31,559,535.82
45% - 49%                   $ 29,609,802.23   $19,411,275.76   $31,099,031.81   $ 42,197,235.35   $ 52,009,261.02   $ 45,778,328.18
50% - 54%                   $ 12,906,968.64   $ 7,330,450.83   $ 9,901,790.78   $ 10,021,957.86   $ 13,077,830.73   $  7,743,123.50
> 55%                       $  1,707,262.98   $   205,920.40   $   231,868.18   $  1,130,063.68   $  1,394,347.52   $  1,140,740.99
LOAN TYPE
Fixed < 15-yr               $            --   $           --   $   116,510.46   $    139,613.12   $     84,695.68   $     75,424.43
Fixed - 15-yr               $     86,724.10   $   147,365.93   $   191,079.80   $    557,358.25   $    241,622.59   $    137,817.33
Fixed - 16-29-yr            $    245,555.44   $    74,638.59   $   414,657.00   $    154,626.66   $    420,424.40   $    176,495.16
Fixed - 30-yr               $ 10,347,221.55   $ 5,364,753.19   $ 5,729,891.99   $  6,621,991.75   $ 10,479,962.19   $  8,278,234.10
Fixed > 30-yr
Fixed <= 5yr IO             $            --   $           --   $   227,000.00   $    300,000.00   $    292,500.00   $  1,360,800.00
Fixed - > 5yr & <10yr IO
Fixed - >= 10yr IO          $            --   $           --   $           --   $            --   $    331,000.00   $            --
2/28 Balloon 30/40          $ 20,572,521.89   $19,166,878.76   $25,996,261.97   $ 26,976,519.62   $ 36,952,711.36   $ 29,647,978.05
2/28 Balloon 30/50          $            --   $           --   $           --   $            --   $    203,934.59   $            --
3/27 Balloon 30/40          $  4,831,276.26   $ 5,743,003.73   $ 7,376,031.10   $  5,595,091.82   $  7,860,618.91   $  5,177,209.54
6 Months
2/1
3/1
5/1
7/1
10/1
2/1 - IO
3/1 - IO
5/1 - IO
7/1 - IO
10/1 - IO
10/20 - IO
1/29                        $            --   $           --   $   274,324.98   $    268,513.38   $            --   $            --
2/28                        $ 40,998,302.76   $21,887,217.56   $27,665,052.51   $ 32,427,177.62   $ 32,866,879.70   $ 22,570,792.83
3/27                        $ 22,789,910.80   $ 9,697,205.92   $11,519,837.98   $  7,802,214.70   $  8,789,452.74   $  8,256,792.21
5/25                        $     78,667.16   $   373,958.19   $   376,873.24   $    324,324.37   $    155,742.99   $     34,979.22
10/20

2/28 - IO                   $    216,000.00   $   659,324.86   $ 3,064,474.55   $ 24,832,983.99   $ 25,651,329.80   $ 25,551,855.39
3/27 - IO                   $            --   $           --   $ 1,559,400.00   $  2,685,599.39   $  3,434,628.65   $  3,556,399.48
5/25 - IO                   $            --   $           --   $           --   $            --      $ 157,439.00   $    747,900.00
Balloon 15/30               $    163,089.90   $   117,814.05   $   677,423.07   $  2,696,649.73   $  5,926,184.87   $  4,844,811.39
Balloon 30/40               $  1,690,208.16   $   392,374.37   $ 2,638,339.91   $  1,789,360.54   $  3,418,908.65   $  1,363,303.22
IO & ARM TERM CO-INCIDENT
IO TERM (MOS)
0                           $ 12,532,799.15   $ 6,096,946.13   $ 9,767,902.23   $ 11,959,600.05   $ 20,571,798.38   $ 14,876,085.63
12
24                          $            --   $           --   $   221,000.00   $            --   $    210,400.00   $            --
36                          $            --   $           --   $           --   $    411,500.00   $            --   $            --
60                          $            --   $           --   $           --   $            --   $            --   $    427,900.00
84
120
NEG AM
105%
110%
115%
125%
> 125%
GEOGRAPHY (ZIP+4)
   92509                    $            --   $           --   $   399,446.53   $     58,320.86   $    764,100.21   $    699,760.45
   92880                    $            --   $           --   $           --   $  1,152,381.02   $  1,040,000.00   $            --
   90011                    $    648,624.49   $           --   $   443,342.95   $    448,815.43   $    861,780.64   $    114,860.06
   90044                    $            --   $           --   $   284,055.49   $    305,567.59   $            --   $            --
   90650                    $    629,143.77   $           --   $           --   $    402,783.24   $     97,306.54   $            --


(US$)                           661-680          681-700          701-720          721-740          741-760          >= 760
-----                       --------------   --------------   --------------   --------------   --------------   --------------

COMBINED LTV
<= 60%                      $ 1,940,297.52   $ 1,056,751.18   $   584,212.34   $   479,446.91   $   199,680.13   $           --
61% - 65%                   $   801,554.47   $   628,334.03   $   274,501.44   $           --   $           --   $           --
66% - 70%                   $ 1,873,360.08   $ 1,823,892.87   $   394,598.52   $           --   $   803,142.26   $           --
71% - 75%                   $ 1,974,461.53   $ 1,408,707.11   $   202,281.32   $           --   $           --   $   948,699.59
76% - 80%                   $ 8,373,197.40   $ 6,895,194.22   $ 1,886,196.07   $ 2,649,599.54   $ 1,322,604.28   $ 3,119,496.76
81% - 85%                   $ 4,706,852.01   $ 2,970,375.57   $ 1,962,718.75   $   833,486.50   $   144,116.31   $   544,244.27
86% - 90%                   $10,949,212.31   $ 4,987,600.63   $ 2,040,794.73   $ 1,529,858.78   $   993,938.90   $   960,936.38
91% - 95%                   $ 6,339,841.32   $ 4,736,603.18   $ 3,830,615.38   $ 2,411,321.05   $ 1,815,853.81   $ 1,159,169.62
96% - 100%                  $45,843,983.76   $29,949,670.69   $20,210,841.46   $13,103,426.03   $ 9,078,749.71   $ 8,497,855.30
> 100%
LIEN
1st                         $79,029,635.06   $51,469,753.86   $29,868,252.04   $19,907,898.76   $14,118,716.09   $13,986,890.56
2nd                         $ 3,773,125.34   $ 2,987,375.62   $ 1,518,507.97   $ 1,099,240.05   $   239,369.31   $ 1,243,511.36
JUNIOR LIEN(S) (CLTVS)
<= 80%                      $14,962,871.00   $11,812,879.41   $ 3,341,789.69   $ 3,129,046.45   $ 2,325,426.67   $ 4,068,196.35
81% - 85%                   $ 4,706,852.01   $ 2,970,375.57   $ 1,962,718.75   $   833,486.50   $   144,116.31   $   544,244.27
86% - 90%                   $10,949,212.31   $ 4,987,600.63   $ 2,040,794.73   $ 1,529,858.78   $   993,938.90   $   960,936.38
91% - 95%                   $ 6,339,841.32   $ 4,736,603.18   $ 3,830,615.38   $ 2,411,321.05   $ 1,815,853.81   $ 1,159,169.62
96% - 100%                  $45,843,983.76   $29,949,670.69   $20,210,841.46   $13,103,426.03   $ 9,078,749.71   $ 8,497,855.30
> 100%
ORIG. LOAN BALANCE
< $100,000                  $ 5,707,390.29   $ 3,318,386.11   $ 1,914,227.95   $ 1,536,485.12   $   835,859.19   $   924,276.23
$100,000 - $150,000         $ 7,819,972.72   $ 4,469,800.82   $ 1,402,973.84   $ 1,743,186.15   $ 1,749,626.31   $   921,153.52
$151,000 - $200,000         $11,208,704.83   $ 7,614,683.49   $ 4,192,148.92   $ 2,952,176.57   $ 2,085,853.97   $   896,776.54
$201,000 - $250,000         $13,453,234.41   $ 5,750,664.69   $ 4,924,582.19   $ 2,673,420.08   $ 1,608,002.41   $ 1,282,318.90
$251,000 - $300,000         $ 7,703,514.05   $ 3,532,515.33   $ 3,255,395.36   $ 1,930,565.52   $ 1,923,189.62   $ 1,115,291.03
$301,000 - $350,000         $ 8,710,227.89   $ 5,768,256.34   $ 3,530,918.17   $ 1,887,396.27   $ 1,317,211.42   $ 1,312,156.87
$351,000 - $400,000         $ 7,562,756.64   $ 6,770,634.92   $ 4,535,931.99   $ 3,039,317.43   $ 1,088,459.95   $ 1,899,690.65
$401,000 - $450,000         $ 7,109,667.87   $ 1,633,711.69   $ 1,235,272.25   $           --   $ 1,318,608.92   $   850,116.51
$451,000 - $500,000         $ 5,325,328.95   $ 1,934,439.17   $ 2,839,718.94   $ 2,332,867.46   $   460,000.00   $ 2,407,785.68
> $500,000                  $ 8,201,962.75   $13,664,036.92   $ 3,555,590.40   $ 2,911,724.21   $ 1,971,273.61   $ 3,620,835.99
LOAN PURPOSE
Purchase                    $50,184,557.89   $34,779,431.51   $22,974,408.00   $17,292,084.46   $11,583,319.55   $12,543,980.83
Refinance: Cash Out         $30,305,014.06   $17,344,763.59   $ 7,555,263.08   $ 3,311,175.26   $ 2,410,645.21   $ 1,965,937.60
Refinance: Rate Term        $ 2,313,188.45   $ 2,332,934.38   $   857,088.93   $   403,879.09   $   364,120.64   $   720,483.49
DOCUMENTATION TYPE
Full                        $19,968,514.13   $14,045,658.68   $ 8,431,767.77   $ 5,218,376.73   $ 2,536,978.67   $ 3,387,203.56
Reduced                     $ 4,086,418.82   $ 1,734,598.18   $ 1,461,916.62   $    89,463.34   $   460,000.00   $    77,733.20
Stated                      $58,747,827.45   $38,676,872.62   $21,493,075.62   $15,699,298.74   $11,361,106.73   $11,765,465.16
OCCUPANCY
Owner-Occupied              $73,742,422.57   $47,699,278.95   $27,828,536.61   $17,529,629.17   $11,210,560.00   $14,733,401.90
Second Home                 $ 1,434,671.24   $   673,652.86   $ 1,133,596.81   $   955,504.64     $ 582,000.00   $   247,582.37
Investment Property         $ 7,625,666.59   $ 6,084,197.67   $ 2,424,626.59   $ 2,522,005.00   $ 2,565,525.40   $   249,417.65
PROPERTY TYPE
Single-Family Residence     $61,944,232.05   $36,268,745.66   $22,845,324.53   $14,249,535.95   $ 8,870,605.71   $11,636,398.42
PUD                         $ 4,458,204.65   $ 4,371,575.92   $ 2,571,660.62   $ 1,515,791.51   $ 1,465,085.64   $   477,804.75
Condominium                 $ 6,799,416.18   $ 5,139,425.52   $ 2,156,653.11   $ 1,604,093.54   $ 1,275,813.58   $   816,169.75
Co-Op
CondOp
Multi-Family                $ 9,600,907.52   $ 8,677,382.38   $ 3,813,121.75   $ 3,637,717.81   $ 2,746,580.47   $ 2,300,029.00
Manufactured Housing
DTI
< 30%                       $ 5,991,698.93   $ 4,565,929.84   $ 3,423,661.51   $ 1,928,954.47   $   347,929.87   $   989,371.56
30% - 34%                   $ 3,615,184.38   $ 2,546,774.95   $   913,096.03   $ 1,038,554.44   $   829,730.61   $   985,842.97
35% - 39%                   $ 8,787,749.66   $ 6,216,113.31   $ 3,371,994.26   $ 2,322,583.83   $ 2,862,396.50   $   994,190.06
40% - 44%                   $26,613,526.00   $20,392,805.56   $12,470,388.52   $ 6,346,450.91   $ 4,586,060.63   $ 6,082,413.52
45% - 49%                   $30,913,402.12   $16,840,311.08   $ 8,907,719.15   $ 8,154,994.96   $ 4,991,345.09   $ 5,755,537.19
50% - 54%                   $ 6,261,868.35   $ 2,707,188.83   $ 2,055,399.57   $ 1,215,600.20   $   740,622.70   $   423,046.62
> 55%                       $   619,330.96   $ 1,188,005.91   $   244,500.97   $           --   $           --   $           --
LOAN TYPE
Fixed < 15-yr               $           --   $           --   $    80,067.54   $           --   $           --   $           --
Fixed - 15-yr               $   124,205.54   $   255,301.23   $           --   $   199,211.44   $           --   $           --
Fixed - 16-29-yr            $    64,342.50   $   451,059.07   $   115,277.06   $    76,901.77   $           --   $    42,096.64
Fixed - 30-yr               $ 6,787,874.90   $ 3,295,694.27   $ 2,207,658.57   $ 1,158,709.93   $   952,068.74   $   845,565.65
Fixed > 30-yr
Fixed <= 5yr IO             $ 1,211,434.77   $ 1,089,250.00   $           --   $           --   $           --   $           --
Fixed - > 5yr & <10yr IO
Fixed - >= 10yr IO          $           --   $           --   $           --   $           --   $           --   $           --
2/28 Balloon 30/40          $20,509,181.27   $11,593,677.54   $10,647,321.87   $ 4,549,235.75   $ 3,873,414.46   $ 2,661,583.63
2/28 Balloon 30/50          $           --   $           --   $           --   $           --   $           --   $           --
3/27 Balloon 30/40          $ 2,268,958.91   $ 2,253,027.50   $ 2,054,185.72   $   604,040.04   $   687,513.26   $   281,411.82
6 Months
2/1
3/1
5/1
7/1
10/1
2/1 - IO
3/1 - IO
5/1 - IO
7/1 - IO
10/1 - IO
10/20 - IO
1/29                        $           --   $           --   $           --   $           --   $           --   $           --
2/28                        $19,925,928.91   $13,957,723.63   $ 4,272,117.97   $ 4,840,199.76   $ 3,607,090.74   $ 3,621,605.17
3/27                        $ 4,180,817.79   $ 1,774,368.42   $   971,179.26   $   416,759.49   $ 1,115,128.47   $   472,539.88
5/25                        $           --   $   163,941.80   $           --   $   482,396.74   $           --   $           --
10/20

2/28 - IO                   $18,071,405.16   $13,881,949.22   $ 6,859,413.00   $ 5,448,534.26   $ 3,555,500.42   $ 4,913,467.63
3/27 - IO                   $ 4,927,408.64   $ 1,990,249.66   $ 2,046,438.00   $ 1,337,920.00   $   328,000.00   $ 1,227,900.00
5/25 - IO                   $           --   $   772,500.00   $   218,000.00   $           --   $           --   $           --
Balloon 15/30               $ 3,586,869.23   $ 2,462,638.08   $ 1,388,732.78   $   804,478.91   $   239,369.31   $ 1,006,608.55
Balloon 30/40               $ 1,144,332.78   $   515,749.06   $   526,368.24   $ 1,088,750.72   $           --   $   157,622.95
IO & ARM TERM CO-INCIDENT
IO TERM (MOS)
0                           $11,707,624.95   $ 6,980,441.71   $ 4,318,104.19   $ 3,328,052.77   $ 1,191,438.05   $ 2,051,893.79
12
24                          $           --   $           --   $           --   $           --   $           --   $           --
36                          $   228,000.00   $           --   $           --   $           --   $           --   $           --
60                          $           --   $   772,500.00   $   218,000.00   $           --   $           --   $           --
84
120
NEG AM
105%
110%
115%
125%
> 125%
GEOGRAPHY (ZIP+4)
   92509                    $   229,731.68   $   384,000.00   $   535,330.80   $           --   $           --   $           --
   92880                    $           --   $           --   $   455,200.00   $           --   $           --   $           --
   90011                    $           --   $           --   $           --   $           --   $           --   $           --
   90044                    $           --   $   499,499.41   $   485,914.64   $           --   $   424,000.00   $   480,000.00
   90650                    $   384,343.83   $   394,621.49   $   384,000.00   $           --   $           --   $           --


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.





                                                                    LTV
(US$)                       -----------------------------------------------------------------------------------
FICO                            <= 60%          61% - 65%        66% - 70%        71% - 75%        76% - 80%
----                        --------------   --------------   --------------   --------------   ---------------

<= 550                      $11,836,119.25   $ 9,548,545.64   $16,264,164.76   $21,552,423.94   $ 23,297,557.74
551 - 575                   $ 5,314,654.84   $ 3,681,715.67   $ 3,407,242.98   $ 9,782,546.65   $ 16,273,035.37
576-600                     $ 4,751,304.93   $ 2,737,456.61   $ 5,310,010.98   $ 7,842,457.36   $ 21,830,023.04
601- 620                    $ 5,971,365.48   $ 1,970,853.30   $ 3,502,510.42   $ 6,229,988.26   $ 13,858,776.87
621-640                     $ 4,772,020.81   $ 2,400,169.81   $ 2,898,670.68   $ 6,648,054.18   $ 18,318,809.64
641-660                     $ 4,644,789.22   $ 1,007,724.04   $   661,393.07   $ 1,856,738.13   $ 16,248,728.11
661-680                     $ 1,940,297.52   $   801,554.47   $ 1,873,360.08   $ 1,974,461.53   $  8,373,197.40
681-700                     $ 1,056,751.18   $   628,334.03   $ 1,823,892.87   $ 1,408,707.11   $  6,895,194.22
701-720                     $   584,212.34   $   274,501.44   $   394,598.52   $   202,281.32   $  1,886,196.07
721-740                     $   479,446.91   $           --   $           --   $           --   $  2,649,599.54
741-760                     $   199,680.13   $           --   $   803,142.26   $           --   $  1,322,604.28
>= 760                      $           --   $           --   $           --   $   948,699.59   $  3,119,496.76
LIEN
1st                         $41,550,642.61   $23,050,855.01   $36,938,986.62   $58,147,990.47   $134,073,219.04
2nd                         $           --   $           --   $           --   $   298,367.60   $            --
JUNIOR LIEN(S) (CLTVS)
<= 80%                      $41,550,642.61   $23,050,855.01   $36,938,986.62   $58,446,358.07   $134,073,219.04
81% - 85%                   $           --   $           --   $           --   $           --   $            --
86% - 90%                   $           --   $           --   $           --   $           --   $            --
91% - 95%                   $           --   $           --   $           --   $           --   $            --
96% - 100%                  $           --   $           --   $           --   $           --   $            --
> 100%
ORIG. LOAN BALANCE
< $100,000                  $ 3,970,602.83   $ 1,544,617.16   $ 2,614,972.51   $ 4,192,882.42   $  8,234,510.45
$100,000 - $150,000         $10,378,597.05   $ 4,144,513.22   $ 5,091,621.56   $ 6,524,054.27   $ 16,160,728.63
$151,000 - $200,000         $10,191,544.32   $ 4,119,155.24   $ 7,181,115.13   $ 9,443,721.03   $ 21,768,561.96
$201,000 - $250,000         $ 7,661,966.27   $ 2,936,710.38   $ 7,193,893.75   $ 8,654,778.70   $ 16,754,078.96
$251,000 - $300,000         $ 3,389,508.35   $ 4,433,843.45   $ 3,572,208.91   $10,324,887.30   $ 16,006,517.08
$301,000 - $350,000         $ 2,869,310.72   $ 1,964,011.47   $ 3,590,145.11   $ 3,936,954.13   $ 16,061,079.29
$351,000 - $400,000         $ 1,469,573.58   $ 1,095,355.59   $ 3,008,930.46   $ 3,435,106.21   $ 10,204,027.22
$401,000 - $450,000         $   409,629.89   $ 1,322,574.73   $ 1,296,455.46   $ 3,762,863.90   $  5,451,843.04
$451,000 - $500,000         $           --   $   920,225.62   $   958,545.69   $ 2,918,486.15   $  6,226,759.73
> $500,000                  $ 1,209,909.60   $   569,848.15   $ 2,431,098.04   $ 5,252,623.96   $ 17,205,112.68
LOAN PURPOSE
Purchase                    $ 1,347,504.60   $ 1,066,182.18   $ 1,716,844.72   $ 2,980,015.27   $ 40,227,695.33
Refinance: Cash Out         $37,874,324.75   $21,401,881.88   $33,395,913.65   $51,851,220.37   $ 86,350,315.62
Refinance: Rate Term        $ 2,328,813.26   $   582,790.95   $ 1,826,228.25   $ 3,615,122.43   $  7,495,208.09
DOCUMENTATION TYPE
Full                        $21,468,600.81   $10,508,240.00   $16,253,844.25   $31,144,235.69   $ 49,648,322.64
Reduced                     $   415,187.43   $ 1,252,252.95   $ 1,557,818.67   $ 2,379,567.82   $  4,589,773.59
Stated                      $19,666,854.37   $11,290,362.06   $19,127,323.70   $24,922,554.56   $ 79,835,122.81
No
OCCUPANCY
Owner-Occupied              $37,690,258.86   $21,288,513.83   $33,999,547.09   $55,800,638.67   $122,627,439.00
Second Home                 $   300,107.11   $   152,327.51   $           --   $   607,055.86   $  2,463,894.17
Investment Property         $ 3,560,276.64   $ 1,610,013.67   $ 2,939,439.53   $ 2,038,663.54   $  8,981,885.87
PROPERTY TYPE
Single-Family Residence     $31,673,795.69   $18,659,581.94   $27,990,086.20   $47,428,866.42   $103,394,851.37
PUD                         $ 2,219,347.83   $ 1,560,865.02   $ 1,594,200.22   $ 4,241,048.11   $  7,211,858.41
Condominium                 $ 1,754,279.12   $   878,607.63   $ 2,185,179.15   $ 1,729,116.49   $ 10,227,407.50
Co-Op
CondOp
Multi-Family                $ 5,903,219.97   $ 1,951,800.42   $ 5,169,521.05   $ 5,047,327.05   $ 13,239,101.76
Manufactured Housing
DTI
< 30%                       $ 5,595,793.49   $ 2,884,034.45   $ 3,757,760.49   $ 4,688,259.12   $ 12,260,144.19
30% - 34%                   $ 5,420,713.56   $ 2,590,828.14   $ 3,323,109.73   $ 6,108,536.20   $ 10,186,317.27
35% - 39%                   $ 5,431,035.84   $ 3,098,744.06   $ 5,489,190.37   $ 7,017,777.12   $ 20,711,682.15
40% - 44%                   $11,208,680.17   $ 5,137,608.86   $ 8,495,251.02   $14,311,382.12   $ 35,585,626.04
45% - 49%                   $ 9,733,485.56   $ 5,796,561.23   $10,893,758.44   $17,715,908.04   $ 43,041,177.43
50% - 54%                   $ 4,011,216.54   $ 3,093,293.85   $ 4,616,971.53   $ 7,819,812.17   $ 10,633,463.69
> 55%                       $   149,717.45   $   449,784.42   $   362,945.04   $   784,683.30   $  1,654,808.27
LOAN TYPE
Fixed < 15-yr               $   144,398.84   $   139,613.12   $    80,067.54   $           --   $    132,231.73
Fixed - 15-yr               $   752,551.90   $    45,772.97   $           --   $   131,309.35   $    338,240.18
Fixed - 16-29-yr            $   206,218.43   $    40,512.39   $    90,246.29   $   532,641.41   $    429,144.66
Fixed - 30-yr               $ 6,436,280.28   $ 2,474,914.02   $ 5,412,358.77   $ 5,675,720.39   $ 11,568,734.25
Fixed > 30-yr
Fixed <= 5yr IO             $   227,000.00   $   292,500.00   $   220,434.77   $   300,000.00   $  1,913,250.00
Fixed - > 5yr & <10yr IO
Fixed - >= 10yr IO          $           --   $           --   $           --   $           --   $    331,000.00
6 Months
Balloon 15/30               $   116,742.55   $           --   $   122,125.54   $   298,367.60   $            --
Ballon 15/40
Balloon 30/40               $ 1,835,855.17   $           --   $   551,421.02   $ 1,023,156.81   $  2,410,011.11
2/28 Balloon 30/40          $ 8,380,007.15   $ 5,243,186.51   $ 6,878,640.88   $15,317,663.96   $ 32,698,889.12
2/28 Balloon 30/50          $           --   $           --   $           --   $           --   $            --
3/27 Balloon 30/40          $ 1,933,688.93   $ 1,189,523.16   $ 2,183,878.10   $ 2,479,117.57   $  9,041,841.44
Balloon 15/30 & 5yr IO
Balloon 15/30 & 10yr IO
2/1
3/1
5/1
7/1
10/1
2/1 - IO
3/1 - IO
5/1 - IO
7/1 - IO
10/1 - IO
1/29                        $           --   $           --   $           --   $           --   $    274,324.98
2/28                        $13,440,047.89   $ 9,573,834.27   $14,153,661.80   $20,525,841.00   $ 38,319,722.88
3/27                        $ 4,793,879.59   $ 2,467,684.98   $ 5,309,951.91   $ 8,661,213.82   $ 16,815,646.53
5/25                        $   198,921.02   $   122,178.13   $           --   $    78,667.16   $    571,285.77
10/20
2/28 - IO                   $ 2,473,150.86   $ 1,373,385.46   $ 1,416,800.00   $ 2,807,159.00   $ 14,419,697.80
3/27 - IO                   $   305,000.00   $    87,750.00   $   519,400.00   $   615,500.00   $  3,896,698.59
5/25 - IO                   $   306,900.00   $           --   $           --   $           --   $    912,500.00
10/20 - IO
IO & ARM TERM CO-INCIDENT
IO TERM (MOS)
0                           $ 9,492,047.17   $ 2,700,812.50   $ 6,256,219.16   $ 7,661,195.56   $ 14,878,361.93
12
24                          $           --   $           --   $           --   $           --   $    221,000.00
36                          $           --   $           --   $           --   $   195,500.00   $            --
60                          $   306,900.00   $           --   $           --   $           --   $    592,500.00
84
120
NEG AM
105%
110%
115%
125%
> 125%
GEOGRAPHY (ZIP+4)
   92509                    $           --   $           --   $   287,000.00   $   359,760.45   $    633,046.53
   92880                    $           --   $           --   $           --   $           --   $            --
   90011                    $   299,265.28   $           --   $           --   $           --   $    349,359.21
   90044                    $           --   $           --   $           --   $   284,055.49   $            --
   90650                    $           --   $           --   $ 1,023,765.26   $           --   $    322,320.00


                                                                LTV
(US$)                       ---------------------------------------------------------------------------
FICO                           81% - 85%        86% - 90%        91% - 95%        96% - 100%     > 100%
----                        --------------   --------------   --------------   ---------------   ------

<= 550                      $14,888,648.65   $ 1,682,001.35   $   411,313.21   $  2,538,703.48     $--
551 - 575                   $12,186,814.98   $ 8,394,442.60   $ 2,041,830.43   $  2,542,251.63     $--
576-600                     $10,256,008.87   $15,595,057.59   $ 4,028,640.10   $ 15,476,199.08     $--
601- 620                    $12,691,121.02   $20,065,027.21   $ 9,167,270.78   $ 39,715,111.60     $--
621-640                     $13,648,162.06   $15,027,109.01   $ 9,922,597.99   $ 63,632,441.94     $--
641-660                     $ 8,447,361.05   $14,999,284.00   $ 8,403,713.22   $ 55,511,061.51     $--
661-680                     $ 4,706,852.01   $10,949,212.31   $ 6,339,841.32   $ 45,843,983.76     $--
681-700                     $ 2,970,375.57   $ 4,987,600.63   $ 4,736,603.18   $ 29,949,670.69     $--
701-720                     $ 1,962,718.75   $ 2,040,794.73   $ 3,830,615.38   $ 20,210,841.46     $--
721-740                     $   833,486.50   $ 1,529,858.78   $ 2,411,321.05   $ 13,103,426.03     $--
741-760                     $   144,116.31   $   993,938.90   $ 1,815,853.81   $  9,078,749.71     $--
>= 760                      $   544,244.27   $   960,936.38   $ 1,159,169.62   $  8,497,855.30     $--
LIEN
1st                         $83,279,910.04   $97,074,188.69   $53,637,230.95   $278,007,488.80     $--
2nd                         $           --   $   151,074.80   $   631,539.14   $ 28,092,807.39     $--
JUNIOR LIEN(S) (CLTVS)
<= 80%                      $           --   $           --   $           --   $            --     $--
81% - 85%                   $83,279,910.04   $           --   $           --   $            --     $--
86% - 90%                   $           --   $97,225,263.49   $           --   $            --     $--
91% - 95%                   $           --   $           --   $54,268,770.09   $            --     $--
96% - 100%                  $           --   $           --   $           --   $306,100,296.19     $--
> 100%
ORIG. LOAN BALANCE
< $100,000                  $ 5,926,127.76   $ 6,120,447.19   $ 3,809,919.96   $ 32,044,213.43     $--
$100,000 - $150,000         $11,578,692.09   $ 9,036,245.25   $ 5,958,474.59   $ 37,096,937.75     $--
$151,000 - $200,000         $12,669,879.07   $12,913,512.37   $ 5,486,535.55   $ 37,963,382.33     $--
$201,000 - $250,000         $13,905,402.25   $14,833,200.93   $ 8,132,116.29   $ 36,425,965.54     $--
$251,000 - $300,000         $ 7,188,615.42   $10,134,544.72   $ 6,614,156.22   $ 33,537,274.28     $--
$301,000 - $350,000         $11,450,093.65   $ 9,027,712.90   $ 3,934,441.43   $ 24,151,081.62     $--
$351,000 - $400,000         $ 3,700,646.47   $ 3,632,973.10   $ 7,234,926.43   $ 28,170,798.32     $--
$401,000 - $450,000         $ 5,076,487.68   $ 7,198,107.19   $ 3,754,550.12   $ 23,894,681.21     $--
$451,000 - $500,000         $ 4,279,414.69   $ 5,818,210.34   $ 3,326,119.81   $ 21,969,312.84     $--
> $500,000                  $ 7,504,550.96   $18,510,309.50   $ 6,017,529.69   $ 30,846,648.87     $--
LOAN PURPOSE
Purchase                    $ 7,801,738.01   $23,156,145.62   $23,852,695.56   $254,990,019.87     $--
Refinance: Cash Out         $68,179,205.02   $67,593,675.05   $26,479,397.71   $ 44,790,095.73     $--
Refinance: Rate Term        $ 7,298,967.01   $ 6,475,442.82   $ 3,936,676.82   $  6,320,180.59     $--
DOCUMENTATION TYPE
Full                        $41,067,159.60   $43,951,367.10   $27,672,169.61   $100,737,164.75     $--
Reduced                     $ 4,408,458.86   $ 4,972,001.97   $ 2,033,792.26   $ 14,372,904.88     $--
Stated                      $37,804,291.58   $48,301,894.42   $24,562,808.22   $190,990,226.56     $--
No
OCCUPANCY
Owner-Occupied              $73,582,220.89   $82,843,819.02   $44,057,740.08   $300,724,157.90     $--
Second Home                 $   528,246.26   $ 1,805,667.02   $ 2,118,289.11   $  4,691,124.74     $--
Investment Property         $ 9,169,442.89   $12,575,777.45   $ 8,092,740.90   $    685,013.55     $--
PROPERTY TYPE
Single-Family Residence     $69,420,798.12   $74,955,226.20   $42,895,358.18   $235,355,551.63     $--
PUD                         $ 2,598,617.41   $ 5,955,546.24   $ 3,907,396.95   $ 23,791,740.04     $--
Condominium                 $ 2,355,377.99   $ 7,959,230.40   $ 2,760,766.86   $ 22,173,203.31     $--
Co-Op
CondOp
Multi-Family                $ 8,905,116.52   $ 8,355,260.65   $ 4,705,248.10   $ 24,779,801.21     $--
Manufactured Housing
DTI
< 30%                       $ 7,554,120.11   $ 6,967,728.64   $ 6,606,100.08   $ 14,487,517.35     $--
30% - 34%                   $ 5,850,170.60   $ 8,932,305.39   $ 2,141,395.58   $ 10,517,841.58     $--
35% - 39%                   $11,934,456.54   $12,452,059.52   $ 4,150,374.70   $ 34,346,080.38     $--
40% - 44%                   $25,143,581.18   $23,205,664.20   $13,719,189.85   $ 95,707,106.93     $--
45% - 49%                   $27,035,005.28   $33,633,260.81   $22,463,863.35   $125,355,223.80     $--
50% - 54%                   $ 5,762,576.33   $11,045,945.66   $ 5,187,846.53   $ 22,214,722.31     $--
> 55%                       $           --   $   988,299.27   $           --   $  3,471,803.84     $--
LOAN TYPE
Fixed < 15-yr               $           --   $           --   $           --   $            --     $--
Fixed - 15-yr               $   151,376.65   $   233,450.65   $           --   $    287,984.51     $--
Fixed - 16-29-yr            $   495,708.86   $    64,342.50   $   238,175.69   $    139,084.06     $--
Fixed - 30-yr               $ 8,993,307.10   $ 8,361,101.75   $ 2,755,915.67   $ 10,391,294.60     $--
Fixed > 30-yr
Fixed <= 5yr IO             $           --   $   475,000.00   $   508,000.00   $    544,800.00     $--
Fixed - > 5yr & <10yr IO
Fixed - >= 10yr IO          $           --   $           --   $           --   $            --     $--
6 Months
Balloon 15/30               $           --   $   151,074.80   $   416,632.30   $ 22,809,727.08     $--
Ballon 15/40
Balloon 30/40               $ 2,323,312.36   $ 2,127,918.96   $ 1,730,315.54   $  2,723,327.63     $--
2/28 Balloon 30/40          $18,421,338.01   $25,086,194.13   $15,440,399.33   $ 85,680,967.08     $--
2/28 Balloon 30/50          $           --   $           --   $           --   $    203,934.59     $--
3/27 Balloon 30/40          $ 5,482,640.78   $ 5,670,317.71   $ 1,878,147.03   $ 14,873,213.89     $--
Balloon 15/30 & 5yr IO
Balloon 15/30 & 10yr IO
2/1
3/1
5/1
7/1
10/1
2/1 - IO
3/1 - IO
5/1 - IO
7/1 - IO
10/1 - IO
1/29                        $           --   $   268,513.38   $           --   $            --     $--
2/28                        $23,041,165.18   $30,524,824.34   $15,489,674.35   $ 63,571,317.45     $--
3/27                        $11,840,643.07   $ 7,295,442.46   $ 3,909,576.57   $ 16,692,168.73     $--
5/25                        $   738,344.83   $   125,743.81   $           --   $    155,742.99     $--
10/20
2/28 - IO                   $ 8,736,473.72   $15,604,800.00   $10,570,883.61   $ 75,303,887.83     $--
3/27 - IO                   $ 2,934,599.48   $ 1,079,100.00   $ 1,113,050.00   $ 12,542,845.75     $--
5/25 - IO                   $   121,000.00   $   157,439.00   $   218,000.00   $    180,000.00     $--
10/20 - IO
IO & ARM TERM CO-INCIDENT
IO TERM (MOS)
0                           $11,963,704.97   $10,937,888.66   $ 5,141,039.20   $ 36,351,417.88     $--
12
24                          $           --   $           --   $           --   $    210,400.00     $--
36                          $           --   $           --   $           --   $    444,000.00     $--
60                          $   121,000.00   $           --   $   218,000.00   $    180,000.00     $--
84
120
NEG AM
105%
110%
115%
125%
> 125%
GEOGRAPHY (ZIP+4)
   92509                    $   340,000.00   $           --   $   229,731.68   $  1,221,151.87     $--
   92880                    $   512,000.00   $ 1,228,739.49   $           --   $    906,841.53     $--
   90011                    $   953,123.59   $   448,815.43   $           --   $    466,860.06     $--
   90044                    $   305,567.59   $   485,914.64   $           --   $  1,403,499.41     $--
   90650                    $           --   $           --   $           --   $    946,113.61     $--


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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OCCUPANCY STATUS - FLORIDA




                                                % of
                                              Mortgage
                                              Pool by
                               Aggregate     Aggregate   Weighted    Weighted   Weighted
                  Number        Cut-off       Cut-off     Average    Average     Average   Weighted
                    of           Date           Date       Gross    Remaining   Combined   Average
                 Mortgage      Principal     Principal   Interest      Term     Original     FICO
Occupancy - FL     Loans      Balance ($)     Balance    Rate (%)    (months)      LTV       Score
                 --------   --------------   ---------   --------   ---------   --------   --------

Primary               601   106,867,404.42       89.69      8.489         349      79.11        619
Second Home            15     3,812,976.79        3.20      8.939         357      80.20        639
Investment             50     8,476,637.35        7.11      9.080         357      84.60        656
                      ---   --------------      ------      -----         ---      -----        ---
Total:                666   119,157,018.56      100.00      8.545         350      79.54        622
                      ===   ==============      ======      =====         ===      =====        ===


OCCUPANCY STATUS - LAS VEGAS




                                                  % of
                                                Mortgage
                                                Pool by
                                 Aggregate     Aggregate   Weighted    Weighted   Weighted
                     Number       Cut-off       Cut-off     Average    Average     Average   Weighted
                       of           Date          Date       Gross    Remaining   Combined   Average
                    Mortgage     Principal     Principal   Interest      Term     Original     FICO
Occupancy - VEGAS     Loans     Balance ($)     Balance    Rate (%)    (months)      LTV       Score
                    --------   -------------   ---------   --------   --------------------   --------

Primary                   73   15,091,457.57       91.55      8.149         349      80.67        634
Second Home                6    1,152,216.80        6.99      8.353         341      88.07        686
Investment                 1      241,571.79        1.47      7.840         356      85.00        656
                         ---   -------------      ------      -----         ---      -----        ---
Total:                    80   16,485,246.16      100.00      8.159         349      81.25        638
                         ===   =============      ======      =====         ===      =====        ===


ALL COLLATERAL




            less                                                                                                     greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720   720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.00%    1.11%    0.75%    0.91%    0.70%     1.03%    0.82%    0.73%   0.35%    0.23%    0.10%    0.08%
65.01-70   0.00%   0.55%    1.01%    0.58%    0.33%    0.50%     0.43%    0.39%    0.08%   0.22%    0.27%    0.05%    0.10%
70.01-75   0.00%   1.13%    0.82%    1.04%    1.01%    0.68%     0.73%    0.89%    0.22%   0.29%    0.23%    0.03%    0.11%
75.01-78   0.00%   0.03%    0.05%    0.24%    0.14%    0.38%     0.25%    0.19%    0.19%   0.18%    0.08%    0.14%    0.00%
78.01-80   0.00%   1.08%    1.10%    1.22%    1.63%    2.74%     5.18%    8.89%    8.20%   5.85%    4.20%    2.46%    4.51%
80.01-85   0.00%   0.57%    0.78%    1.06%    1.06%    1.10%     1.64%    1.60%    1.15%   0.57%    0.50%    0.25%    0.22%
85.01-90   0.00%   0.03%    0.05%    0.52%    0.91%    1.75%     2.59%    1.75%    1.61%   1.30%    0.64%    0.18%    0.43%
90.01-95   0.00%   0.00%    0.02%    0.08%    0.19%    0.38%     0.93%    1.04%    0.58%   0.47%    0.28%    0.39%    0.35%
95.01-100  0.00%   0.01%    0.00%    0.03%    0.06%    0.37%     0.52%    1.03%    0.89%   0.53%    0.44%    0.35%    0.38%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    ----     ----     ----     ----
Total:     0.00%   4.40%    4.95%    5.52%    6.25%    8.60%    13.28%   16.60%   13.64%   9.76%    6.86%    3.96%    6.18%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    ====     ====     ====     ====


CASH-OUT - ARM




            less                                                                                                     greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.91%    2.18%    1.31%     1.64%    1.12%    1.61%    1.06%    1.13%   0.26%    0.29%    0.13%    0.00%
65.01-70   0.00%   1.14%    2.05%    1.02%     0.56%    0.84%    0.76%    0.67%    0.06%   0.39%    0.15%    0.00%    0.00%
70.01-75   0.00%   1.93%    1.36%    2.14%     2.12%    1.26%    1.20%    1.33%    0.31%   0.40%    0.03%    0.05%    0.00%
75.01-78   0.00%   0.05%    0.08%    0.47%     0.32%    0.84%    0.36%    0.14%    0.07%   0.16%    0.00%    0.00%    0.00%
78.01-80   0.00%   2.03%    1.43%    1.76%     2.76%    3.28%    3.52%    4.21%    4.27%   2.31%    1.71%    0.60%    0.74%
80.01-85   0.00%   0.85%    1.14%    1.61%     1.73%    1.93%    2.06%    2.61%    2.15%   0.62%    0.68%    0.04%    0.26%
85.01-90   0.00%   0.06%    0.02%    0.46%     1.23%    2.18%    3.95%    2.53%    2.30%   1.35%    0.80%    0.21%    0.22%
90.01-95   0.00%   0.00%    0.00%    0.00%     0.10%    0.49%    1.33%    1.17%    0.62%   0.30%    0.26%    0.41%    0.17%
95.01-100  0.00%   0.00%    0.00%    0.00%     0.00%    0.19%    0.11%    0.00%    0.08%   0.16%    0.00%    0.00%    0.09%
           ----    ----     ----     ----     -----    -----    -----    -----    -----    ----     ----     ----     ----
Total:     0.00%   7.98%    8.26%    8.78%    10.46%   12.13%   14.90%   13.72%   10.99%   5.94%    3.92%    1.45%    1.48%
           ====    ====     ====     ====     =====    =====    =====    =====    =====    ====     ====     ====     ====


CASH-OUT - FIXED RATE




            less                                                                                                     greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.81%    0.89%    1.75%    1.72%     1.47%   1.77%     3.12%    2.07%    2.52%   1.13%    0.57%    0.52%
65.01-70   0.00%   0.14%    0.96%    0.45%    0.33%     1.60%   0.11%     0.78%    0.65%    0.64%   0.18%    0.61%    1.04%
70.01-75   0.00%   1.63%    0.96%    0.65%    0.48%     1.33%   0.79%     2.20%    0.93%    0.59%   0.47%    0.00%    0.71%
75.01-78   0.00%   0.09%    0.19%    0.16%    0.00%     0.00%   0.21%     0.44%    0.30%    0.60%   1.01%    0.27%    0.00%
78.01-80   0.00%   0.55%    2.57%    0.55%    1.80%     1.31%   1.80%     4.85%    5.07%    1.31%   2.04%    0.18%    0.08%
80.01-85   0.00%   1.43%    1.17%    1.34%    0.57%     0.83%   1.49%     1.92%    0.49%    2.68%   0.49%    1.97%    0.00%
85.01-90   0.00%   0.00%    0.00%    0.87%    1.32%     2.37%   1.68%     2.08%    1.26%    1.86%   0.36%    0.00%    0.91%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.16%     0.54%   0.55%     0.57%    0.98%    0.08%   0.64%    0.00%    0.00%
95.01-100  0.00%   0.00%    0.00%    0.00%    0.00%     1.00%   0.90%     1.70%    1.41%    0.41%   0.92%    0.00%    0.10%
           ----    ----     ----     ----     -----    -----    ----     ----     -----    ----     ----     ----     ----
Total:     0.00%   5.65%    6.74%    5.77%    6.38%    10.44%   9.29%    17.65%   13.18%   10.69%   7.24%    3.60%    3.36%
           ====    ====     ====     ====     =====    =====    ====     ====     =====    ====     ====     ====     ====


PURCHASE - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.02%    0.16%    0.00%    0.12%    0.05%     0.19%    0.09%    0.00%    0.00%    0.04%   0.00%     0.06%
65.01-70   0.00%   0.00%    0.00%    0.04%    0.00%    0.00%     0.20%    0.06%    0.00%    0.00%    0.23%   0.00%     0.04%
70.01-75   0.00%   0.12%    0.12%    0.00%    0.00%    0.04%     0.17%    0.33%    0.00%    0.16%    0.16%   0.00%     0.15%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.15%    0.21%    0.31%    0.16%    0.00%   0.31%     0.00%
78.01-80   0.00%   0.18%    0.43%    0.64%    0.39%    2.59%     7.97%   16.41%   14.34%   11.62%    8.25%   5.58%    10.12%
80.01-85   0.00%   0.16%    0.26%    0.38%    0.41%    0.35%     0.82%    0.45%    0.26%    0.14%    0.33%   0.11%     0.17%
85.01-90   0.00%   0.00%    0.00%    0.43%    0.51%    1.14%     1.43%    0.83%    1.20%    1.13%    0.63%   0.23%     0.49%
90.01-95   0.00%   0.00%    0.00%    0.11%    0.26%    0.31%     0.40%    0.99%    0.32%    0.80%    0.30%   0.53%     0.66%
95.01-100  0.00%   0.00%    0.00%    0.08%    0.06%    0.24%     0.08%    0.03%    0.05%    0.02%    0.16%   0.37%     0.17%
           ----    ----     ----     ----     -----    ----     -----    -----    -----    -----    -----    ----     -----
TOTAL:     0.00%   0.48%    0.97%    1.67%    1.75%    4.72%    11.43%   19.40%   16.48%   14.02%   10.09%   7.13%    11.86%
           ====    ====     ====     ====     =====    ====     =====    =====    =====    =====    =====    ====     =====


PURCHASE - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.47%    0.38%    0.00%   0.00%    0.00%     0.00%
65.01-70   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.17%    0.00%    0.00%    0.00%   1.10%    0.00%     0.00%
70.01-75   0.00%   0.00%    0.00%    0.00%    0.28%    0.00%     0.00%    0.00%    0.00%    0.00%   0.00%    0.20%     0.00%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    0.00%    0.00%   0.00%    0.00%     0.00%
78.01-80   0.00%   0.67%    0.59%    0.00%    0.00%    0.64%     3.63%    2.88%    2.74%    3.85%   0.99%    0.00%     5.31%
80.01-85   0.00%   0.00%    0.52%    0.11%    0.00%    0.00%     0.27%    0.00%    0.00%    0.00%   0.00%    0.00%     0.00%
85.01-90   0.00%   0.00%    0.45%    0.00%    0.00%    0.24%     0.00%    0.22%    0.33%    0.10%   0.00%    0.00%     0.23%
90.01-95   0.00%   0.00%    0.46%    0.00%    0.00%    0.00%     0.07%    0.09%    0.16%    0.20%   0.16%    0.00%     0.26%
95.01-100  0.00%   0.20%    0.00%    0.00%    0.84%    1.86%     7.29%   20.31%   14.95%    9.56%   6.85%    4.18%     6.21%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    -----    ----     ----     -----
TOTAL:     0.00%   0.87%    2.03%    0.11%    1.12%    2.74%    11.43%   23.96%   18.56%   13.70%   9.10%    4.38%    12.00%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    =====    ====     ====     =====


RATE TERM - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%     0.68%   0.00%    1.71%     2.84%    1.47%    0.76%   1.06%    0.00%    0.00%    0.00%
65.01-70   0.00%   0.42%    0.59%     0.00%   1.08%    0.00%     0.00%    0.00%    0.00%   0.00%    0.00%    0.00%    0.00%
70.01-75   0.00%   2.52%    2.66%     0.72%   0.00%    0.00%     1.55%    0.00%    0.00%   0.00%    2.54%    0.00%    0.00%
75.01-78   0.00%   0.00%    0.00%     0.55%   0.00%    0.00%     0.44%    0.40%    0.00%   0.00%    0.00%    0.00%    0.00%
78.01-80   0.00%   0.93%    1.85%     3.75%   2.82%    4.05%     6.35%    4.08%    5.25%   1.83%    1.61%    0.84%    1.58%
80.01-85   0.00%   0.39%    1.64%     1.71%   2.48%    0.68%     5.38%    0.96%    0.59%   1.02%    0.73%    0.00%    1.02%
85.01-90   0.00%   0.00%    0.00%     1.93%   0.75%    2.33%     3.34%    2.33%    0.00%   1.27%    0.33%    0.00%    1.68%
90.01-95   0.00%   0.00%    0.00%     1.03%   0.58%    0.00%     0.93%    1.56%    2.38%   0.31%    0.00%    0.00%    0.00%
95.01-100  0.00%   0.00%    0.00%     0.00%   0.00%    0.74%     1.52%    0.42%    1.91%   0.29%    0.00%    0.84%    0.00%
           ----    ----     ----     -----    ----     ----     -----    -----    -----    ----     ----     ----     ----
TOTAL:     0.00%   4.26%    6.73%    10.38%   7.71%    9.49%    22.36%   11.23%   10.90%   5.78%    5.21%    1.67%    4.28%
           ====    ====     ====     =====    ====     ====     =====    =====    =====    ====     ====     ====     ====


RATE TERM - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%     0.00%   0.00%    0.66%     0.00%    0.00%    1.72%   0.00%    0.00%    0.00%    1.42%
65.01-70   0.00%   1.18%    0.00%     5.77%   0.91%    0.00%     0.00%    0.00%    0.00%   0.00%    3.80%    0.00%    0.00%
70.01-75   0.00%   0.00%    0.00%     0.94%   1.27%    0.00%     0.88%    0.00%    1.09%   0.62%    2.29%    0.00%    0.00%
75.01-78   0.00%   0.00%    0.00%     0.00%   0.00%    0.00%     0.00%    0.00%    1.04%   0.00%    0.00%    0.00%    0.00%
78.01-80   0.00%   0.00%    1.00%     0.81%   0.86%    0.68%     0.77%    3.54%    5.53%   0.92%    0.00%    0.00%    0.00%
80.01-85   0.00%   0.61%    0.00%     1.69%   0.00%    1.35%     6.57%    6.51%    2.50%   0.00%    0.79%    3.13%    0.00%
85.01-90   0.00%   0.00%    1.41%     1.08%   2.38%    4.62%     1.66%    4.04%    1.12%   5.83%    0.00%    0.00%    0.00%
90.01-95   0.00%   0.00%    0.00%     0.00%   1.15%    0.00%     7.96%    2.28%    1.10%   0.00%    0.00%    0.38%    0.74%
95.01-100  0.00%   0.00%    0.00%     0.00%   0.00%    0.77%     0.00%    0.29%    1.35%   0.23%    0.79%    0.00%    0.00%
           ----    ----     ----     -----    ----     ----     -----    -----    -----    ----     ----     ----     ----
TOTAL:     0.00%   1.79%    2.41%    10.29%   6.57%    8.08%    17.84%   16.65%   15.44%   7.60%    7.67%    3.50%    2.16%
           ====    ====     ====     =====    ====     ====     =====    =====    =====    ====     ====     ====     ====


PRIMARY - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.08%    1.26%    0.67%    0.94%    0.60%     0.94%    0.63%    0.61%   0.14%    0.09%    0.07%    0.03%
65.01-70   0.00%   0.66%    1.12%    0.59%    0.33%    0.47%     0.49%    0.40%    0.04%   0.07%    0.20%    0.00%    0.00%
70.01-75   0.00%   1.22%    0.94%    1.20%    1.18%    0.70%     0.75%    0.89%    0.17%   0.26%    0.07%    0.00%    0.07%
75.01-78   0.00%   0.03%    0.05%    0.29%    0.18%    0.47%     0.29%    0.18%    0.19%   0.15%    0.00%    0.15%    0.00%
78.01-80   0.00%   1.24%    1.08%    1.40%    1.78%    2.96%     5.76%   10.18%    9.11%   6.77%    4.82%    2.96%    5.01%
80.01-85   0.00%   0.57%    0.82%    1.12%    1.26%    1.25%     1.66%    1.54%    0.88%   0.24%    0.42%    0.04%    0.16%
85.01-90   0.00%   0.03%    0.01%    0.55%    0.97%    1.72%     2.91%    1.56%    1.28%   1.08%    0.58%    0.21%    0.16%
90.01-95   0.00%   0.00%    0.00%    0.10%    0.20%    0.43%     0.88%    0.97%    0.48%   0.29%    0.16%    0.19%    0.18%
95.01-100  0.00%   0.00%    0.00%    0.04%    0.03%    0.25%     0.17%    0.04%    0.15%   0.11%    0.08%    0.20%    0.10%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    ----     ----     ----     ----
TOTAL:     0.00%   4.82%    5.29%    5.96%    6.87%    8.85%    13.85%   16.38%   12.91%   9.11%    6.41%    3.83%    5.72%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    ====     ====     ====     ====


PRIMARY - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.11%    0.55%    1.08%    0.82%    0.97%     1.01%    1.91%    1.57%    1.51%   0.70%    0.35%    0.30%
65.01-70   0.00%   0.21%    0.59%    0.85%    0.15%    0.62%     0.12%    0.48%    0.40%    0.39%   0.49%    0.38%    0.56%
70.01-75   0.00%   1.00%    0.59%    0.49%    0.29%    0.82%     0.57%    1.35%    0.68%    0.42%   0.52%    0.07%    0.44%
75.01-78   0.00%   0.00%    0.11%    0.10%    0.00%    0.00%     0.08%    0.27%    0.29%    0.37%   0.62%    0.17%    0.00%
78.01-80   0.00%   0.57%    1.79%    0.42%    1.19%    0.91%     2.42%    4.13%    4.61%    1.90%   1.07%    0.11%    1.81%
80.01-85   0.00%   0.94%    0.90%    1.03%    0.35%    0.65%     1.37%    1.52%    0.55%    1.18%   0.38%    1.22%    0.00%
85.01-90   0.00%   0.00%    0.29%    0.64%    1.05%    2.00%     1.12%    1.61%    0.74%    1.55%   0.22%    0.00%    0.51%
90.01-95   0.00%   0.00%    0.16%    0.00%    0.21%    0.33%     1.15%    0.61%    0.77%    0.12%   0.39%    0.04%    0.12%
95.01-100  0.00%   0.07%    0.00%    0.00%    0.29%    1.33%     3.05%    7.96%    6.11%    3.54%   2.98%    1.43%    2.18%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    -----    ----     ----     ----
TOTAL:     0.00%   3.90%    4.98%    4.62%    4.36%    7.63%    10.90%   19.84%   15.73%   10.99%   7.38%    3.76%    5.93%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    =====    ====     ====     ====


INVESTMENT - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.64%    1.40%    0.17%    1.54%     2.38%    1.01%    0.82%    0.73%    1.43%   0.00%     0.00%
65.01-70   0.00%   0.00%    0.73%    0.00%    0.48%    0.00%     0.48%    0.18%    0.00%    2.23%    0.00%   0.00%     0.31%
70.01-75   0.00%   0.00%    0.00%    0.35%    0.00%    0.32%     0.23%    0.20%    0.00%    0.55%    1.98%   0.46%     0.00%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.26%    0.00%    0.19%    0.00%   0.00%     0.00%
78.01-80   0.00%   0.32%    0.00%    0.24%    1.08%    2.84%     3.65%    1.29%    3.35%    1.01%    1.33%   0.00%     2.46%
80.01-85   0.00%   0.00%    0.15%    0.11%    0.28%    0.16%     1.73%    2.73%    6.66%    3.35%    2.31%   0.50%     1.75%
85.01-90   0.00%   0.00%    0.00%    0.00%    0.00%    2.33%     1.97%    5.33%    6.55%    3.78%    2.79%   0.31%     4.11%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     1.29%    2.76%    0.99%    3.30%    1.89%   3.58%     2.65%
95.01-100  0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    0.00%    0.00%    0.00%   0.00%     0.00%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    -----    -----    ----     -----
TOTAL:     0.00%   0.32%    1.52%    2.10%    2.01%    7.19%    11.73%   13.76%   18.36%   15.13%   11.74%   4.85%    11.27%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    =====    =====    ====     =====


INVESTMENT - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%    0.00%     4.43%    0.00%   1.46%     3.19%   0.00%     0.73%    0.00%   0.00%    2.93%
65.01-70   0.00%   0.00%    0.00%    0.00%     2.70%    6.70%   0.00%     0.00%   0.00%     0.00%    7.06%   0.00%    1.44%
70.01-75   0.00%   0.00%    0.00%    0.00%     4.15%    0.00%   0.00%     0.00%   0.00%     0.00%    0.00%   0.00%    0.00%
75.01-78   0.00%   1.03%    0.00%    0.00%     0.00%    0.00%   0.79%     0.00%   0.00%     0.00%    0.00%   0.00%    0.00%
78.01-80   0.00%   0.00%    1.85%    0.00%     0.00%    3.36%   0.00%     0.90%   0.00%     5.86%    9.64%   0.00%    0.92%
80.01-85   0.00%   0.00%    0.00%    0.00%     0.00%    0.00%   5.49%     5.82%   0.00%     8.74%    0.00%   5.62%    0.00%
85.01-90   0.00%   0.00%    0.00%    0.00%     0.00%    0.00%   1.45%     2.76%   4.74%     3.91%    0.00%   0.00%    2.34%
90.01-95   0.00%   0.00%    0.00%    0.00%     0.00%    0.00%   0.00%     0.00%   0.00%     0.00%    0.00%   0.00%    0.00%
95.01-100  0.00%   0.00%    0.00%    0.00%     0.00%    0.00%   0.00%     0.00%   0.00%     0.00%    0.00%   0.00%    0.00%
           ----    ----     ----     ----     -----    -----    ----     -----    ----     -----    -----    ----     ----
TOTAL:     0.00%   1.03%    1.85%    0.00%    11.28%   10.06%   9.19%    12.67%   4.74%    19.24%   16.70%   5.62%    7.63%
           ====    ====     ====     ====     =====    =====    ====     =====    ====     =====    =====    ====     ====


SECOND HOME - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%    0.00%    1.23%    1.20%     1.23%    0.00%    0.00%    0.00%   0.00%    0.00%     0.00%
65.01-70   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    0.00%    0.00%   0.00%    0.00%     0.00%
70.01-75   0.00%   1.94%    0.00%    0.00%    0.00%    0.00%     2.97%    0.00%    0.00%    0.00%   0.00%    0.00%     0.00%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    0.00%    0.00%   0.00%    0.00%     0.00%
78.01-80   0.00%   0.00%    0.00%    2.55%    0.00%    5.77%     4.64%    9.00%   10.33%    7.19%   4.99%    5.38%     9.68%
80.01-85   0.00%   0.00%    0.00%    1.46%    0.00%    1.09%     0.86%    0.00%    1.72%    0.00%   0.00%    0.00%     0.00%
85.01-90   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    8.06%    1.56%   0.00%    0.00%     0.00%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.57%    2.40%    3.15%    2.84%   0.00%    3.07%     2.76%
95.01-100  0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    0.00%    0.00%   0.00%    0.72%     1.62%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    -----    ----     ----     -----
TOTAL:     0.00%   1.94%    0.00%    4.01%    1.23%    8.06%    10.28%   11.40%   23.26%   11.60%   4.99%    9.16%    14.06%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    =====    ====     ====     =====


SECOND HOME - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%     0.00%   0.00%     0.00%
65.01-70   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%     0.00%   0.00%     0.00%
70.01-75   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%     0.00%   0.00%     0.00%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%     0.00%   0.00%     0.00%
78.01-80   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    50.45%   0.00%    0.00%     0.00%   0.00%     0.00%
80.01-85   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%     0.00%   0.00%     0.00%
85.01-90   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%     0.00%   0.00%     0.00%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.00%   0.00%    0.00%    19.03%   0.00%    15.27%
95.01-100  0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    15.25%   0.00%    0.00%     0.00%   0.00%     0.00%
           ----    ----     ----     ----     ----     ----     ----     -----    ----     ----     -----    ----     -----
TOTAL:     0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%    65.71%   0.00%    0.00%    19.03%   0.00%    15.27%
           ====    ====     ====     ====     ====     ====     ====     =====    ====     ====     =====    ====     =====


FULL DOC - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.70%    1.63%    0.63%    0.84%     0.99%    1.12%    0.63%   0.70%    0.12%    0.22%    0.10%    0.00%
65.01-70   0.00%   0.87%    1.22%    0.80%    0.31%     0.76%    0.31%    0.35%   0.05%    0.11%    0.21%    0.00%    0.00%
70.01-75   0.00%   1.36%    1.33%    1.40%    1.66%     0.95%    0.66%    0.74%   0.27%    0.14%    0.26%    0.00%    0.17%
75.01-78   0.00%   0.00%    0.05%    0.39%    0.09%     0.58%    0.31%    0.12%   0.00%    0.00%    0.00%    0.00%    0.00%
78.01-80   0.00%   2.56%    1.16%    1.62%    1.78%     4.41%    9.34%    7.50%   5.06%    3.09%    1.84%    1.04%    1.87%
80.01-85   0.00%   1.11%    1.57%    1.81%    1.57%     0.71%    1.78%    1.41%   0.91%    0.64%    0.27%    0.12%    0.32%
85.01-90   0.00%   0.08%    0.03%    1.23%    1.45%     2.10%    2.35%    2.28%   1.17%    0.87%    0.73%    0.40%    0.61%
90.01-95   0.00%   0.00%    0.00%    0.23%    0.35%     0.63%    1.70%    1.58%   0.78%    0.59%    0.21%    0.63%    0.42%
95.01-100  0.00%   0.00%    0.00%    0.00%    0.06%     0.56%    0.34%    0.04%   0.33%    0.23%    0.11%    0.25%    0.00%
           ----    ----     ----     ----     ----     ----     -----    -----    ----     ----     ----     ----     ----
TOTAL:     0.00%   7.67%    6.99%    8.11%    8.10%    11.69%   17.93%   14.65%   9.29%    5.79%    3.85%    2.53%    3.39%
           ====    ====     ====     ====     ====     ====     =====    =====    ====     ====     ====     ====     ====


FULL DOC - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   1.13%    0.26%    1.08%    1.30%     1.38%    1.08%    2.57%    1.63%   1.14%    0.61%    0.00%    0.56%
65.01-70   0.00%   0.22%    0.00%    0.52%    0.44%     0.96%    0.24%    0.07%    0.76%   0.17%    0.21%    0.15%    0.15%
70.01-75   0.00%   1.89%    0.67%    0.62%    0.72%     1.35%    0.09%    2.56%    1.03%   0.33%    0.25%    0.13%    0.83%
75.01-78   0.00%   0.10%    0.22%    0.18%    0.00%     0.00%    0.24%    0.00%    0.00%   0.36%    0.73%    0.32%    0.00%
78.01-80   0.00%   1.07%    2.44%    0.41%    1.20%     1.31%    4.42%    4.33%    5.19%   1.48%    1.57%    0.00%    1.18%
80.01-85   0.00%   1.78%    1.34%    1.52%    0.51%     0.40%    2.20%    1.39%    0.77%   1.94%    0.15%    0.09%    0.00%
85.01-90   0.00%   0.00%    0.56%    1.02%    1.81%     3.11%    1.59%    3.04%    1.32%   1.13%    0.42%    0.00%    0.09%
90.01-95   0.00%   0.00%    0.30%    0.00%    0.19%     0.63%    2.07%    0.49%    0.54%   0.13%    0.74%    0.07%    0.00%
95.01-100  0.00%   0.06%    0.00%    0.00%    0.55%     2.14%    3.54%    3.36%    1.05%   0.97%    1.78%    1.10%    0.27%
           ----    ----     ----     ----     ----     -----    -----    -----    -----    ----     ----     ----     ----
TOTAL:     0.00%   6.26%    5.78%    5.36%    6.71%    11.28%   15.46%   17.81%   12.30%   7.65%    6.45%    1.86%    3.07%
           ====    ====     ====     ====     ====     =====    =====    =====    =====    ====     ====     ====     ====


LIMITED DOC - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.53%    0.91%    0.76%    0.94%    0.46%     0.97%    0.65%    0.56%    0.21%   0.13%    0.05%    0.05%
65.01-70   0.00%   0.44%    0.99%    0.38%    0.35%    0.22%     0.59%    0.39%    0.02%    0.26%   0.16%    0.00%    0.03%
70.01-75   0.00%   1.02%    0.56%    0.96%    0.72%    0.48%     0.82%    0.89%    0.08%    0.36%   0.14%    0.05%    0.00%
75.01-78   0.00%   0.04%    0.04%    0.18%    0.22%    0.34%     0.24%    0.22%    0.29%    0.25%   0.00%    0.23%    0.00%
78.01-80   0.00%   0.25%    0.90%    1.17%    1.67%    2.08%     3.16%   11.01%   11.22%    8.62%   6.42%    3.99%    6.95%
80.01-85   0.00%   0.14%    0.24%    0.58%    0.91%    1.49%     1.56%    1.70%    1.47%    0.28%   0.69%    0.04%    0.21%
85.01-90   0.00%   0.00%    0.00%    0.03%    0.53%    1.48%     3.11%    1.43%    2.07%    1.50%   0.69%    0.09%    0.26%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.08%    0.23%     0.38%    0.79%    0.41%    0.47%   0.30%    0.33%    0.35%
95.01-100  0.00%   0.00%    0.00%    0.06%    0.00%    0.02%     0.03%    0.03%    0.02%    0.02%   0.05%    0.16%    0.20%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    -----    ----     ----     ----
TOTAL:     0.00%   2.41%    3.64%    4.10%    5.42%    6.79%    10.86%   17.12%   16.13%   11.96%   8.59%    4.93%    8.04%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    =====    ====     ====     ====


LIMITED DOC - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.98%    0.78%    0.96%    0.71%    0.46%    0.98%     1.37%    1.35%    1.80%   0.71%    0.66%    0.31%
65.01-70   0.00%   0.17%    1.11%    1.09%    0.11%    0.90%    0.00%     0.84%    0.00%    0.58%   1.43%    0.57%    1.07%
70.01-75   0.00%   0.00%    0.46%    0.32%    0.25%    0.19%    0.99%     0.00%    0.26%    0.48%   0.73%    0.00%    0.00%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%    0.00%     0.51%    0.55%    0.34%   0.45%    0.00%    0.00%
78.01-80   0.00%   0.00%    1.13%    0.38%    1.06%    0.76%    0.16%     3.85%    3.53%    2.71%   1.44%    0.21%    2.35%
80.01-85   0.00%   0.00%    0.36%    0.43%    0.15%    0.82%    0.95%     2.07%    0.28%    1.18%   0.57%    2.79%    0.00%
85.01-90   0.00%   0.00%    0.00%    0.20%    0.18%    0.67%    0.68%     0.28%    0.56%    2.19%   0.00%    0.00%    1.12%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.22%    0.00%    0.11%     0.66%    0.91%    0.09%   0.10%    0.00%    0.31%
95.01-100  0.00%   0.07%    0.00%    0.00%    0.00%    0.37%    2.23%    11.81%   10.53%    5.75%   3.87%    1.60%    3.87%
           ----    ----     ----     ----     ----     ----     ----     -----    -----    -----    ----     ----     ----
TOTAL:     0.00%   1.22%    3.83%    3.37%    2.68%    4.17%    6.11%    21.39%   17.97%   15.11%   9.31%    5.83%    9.01%
           ====    ====     ====     ====     ====     ====     ====     =====    =====    =====    ====     ====     ====


NO DOC - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65
65.01-70
70.01-75
75.01-78
78.01-80
80.01-85
85.01-90
90.01-95
95.01-100
TOTAL:


NO DOC - FIXED RATE




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65
65.01-70
70.01-75
75.01-78
78.01-80
80.01-85
85.01-90
90.01-95
95.01-100
TOTAL:


INTEREST ONLY - ARM




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65       0.00%   0.00%    0.00%    0.16%    0.00%    0.00%     0.34%    0.93%    1.04%    0.20%    0.07%   0.14%     0.00%
65.01-70   0.00%   0.00%    0.00%    0.00%    0.00%    0.16%     0.61%    0.33%    0.00%    0.13%    0.25%   0.00%     0.00%
70.01-75   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.56%    1.14%    0.19%    0.60%    0.32%   0.00%     0.00%
75.01-78   0.00%   0.00%    0.00%    0.00%    0.00%    0.71%     0.62%    0.21%    0.63%    0.32%    0.00%   0.00%     0.00%
78.01-80   0.00%   0.00%    0.00%    0.00%    0.45%    0.77%     7.74%   12.39%   13.08%    9.98%    7.98%   5.44%     9.54%
80.01-85   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     2.59%    0.97%    2.00%    1.04%    1.13%   0.10%     0.14%
85.01-90   0.00%   0.14%    0.00%    0.00%    0.00%    0.37%     3.92%    2.07%    1.74%    1.43%    0.52%   0.39%     0.31%
90.01-95   0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.71%    0.99%    0.17%    0.38%    0.64%   0.38%     0.62%
95.01-100  0.00%   0.00%    0.00%    0.00%    0.00%    0.00%     0.00%    0.00%    0.00%    0.00%    0.00%   0.00%     0.21%
           ----    ----     ----     ----     ----     ----     -----    -----    -----    -----    -----    ----     -----
TOTAL:     0.00%   0.14%    0.00%    0.16%    0.45%    2.01%    17.09%   19.03%   18.86%   14.07%   10.91%   6.45%    10.83%
           ====    ====     ====     ====     ====     ====     =====    =====    =====    =====    =====    ====     =====


MANUFACTURED HOUSING




            Less                                                                                                     Greater
            than                                                                                                       than
LTV/FICO    500   500 520  520 540  540 560  560 580  580 600  600 620  620 640  640 660  660 680  680 700  700 720    720
---------  -----  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

0-65
65.01-70
70.01-75
75.01-78
78.01-80
80.01-85
85.01-90
90.01-95
95.01-100
TOTAL:


1. GEOGRAPHIC DISTRIBUTION BY STATE - AGGREGATE



                                                      % OF
                                                    MORTGAGE
                                                    POOL BY
                                     AGGREGATE     AGGREGATE   WEIGHTED    WEIGHTED    WEIGHTED
                        NUMBER        CUT-OFF       CUT-OFF     AVERAGE    AVERAGE     AVERAGE    WEIGHTED
GEOGRAPHIC                OF           DATE           DATE       GROSS    REMAINING    COMBINED    AVERAGE
DISTRIBUTION           MORTGAGE      PRINCIPAL     PRINCIPAL   INTEREST      TERM      ORIGINAL     FICO
BY STATE                 LOANS      BALANCE ($)     BALANCE    RATE (%)    (MONTHS)      LTV        SCORE
--------------------   --------   --------------   ---------   --------   ---------    --------   --------

Alabama                      20     1,519,188.40        0.18      9.329         343       81.08        558
Alaska                        1       133,712.98        0.02      9.150         356       80.00        659
Arizona                     175    31,983,040.45        3.83      8.512         353       78.87        612
Arkansas                     11     1,463,671.58        0.18      9.051         358       81.69        590
California-Northern         276    81,660,268.11        9.78      8.138         349       79.72        641
California-Southern         639   189,390,921.73       22.68      8.178         346       80.28        641
Colorado                     55     8,053,444.97        0.96      8.508         347       81.52        630
Connecticut                  74    14,903,474.26        1.78      8.554         356       78.40        616
Delaware                     10     1,743,122.48        0.21      8.938         353       80.69        621
District of Columbia          7     2,015,942.53        0.24      7.838         357       74.39        640
Florida                     666   119,157,018.56       14.27      8.545         350       79.54        622
Georgia                      92    13,333,788.34        1.60      8.939         356       82.98        614
Hawaii                       27    11,337,657.06        1.36      8.095         357       78.34        652
Idaho                        24     3,303,211.77        0.40      9.198         358       85.33        612
Illinois                    323    57,253,943.39        6.86      8.729         351       81.62        622
Indiana                      47     4,368,330.96        0.52      9.271         354       85.90        593
Iowa                         13     1,436,424.37        0.17      9.099         354       78.52        602
Kansas                       19     2,186,015.79        0.26      9.111         348       76.18        588
Kentucky                     11       933,525.57        0.11      8.681         346       82.57        593
Louisiana                    21     2,482,710.79        0.30      8.809         353       83.67        608
Maine                         8     1,601,768.99        0.19      8.332         357       89.72        657
Maryland                    115    25,717,947.22        3.08      8.335         356       78.32        613
Massachusetts                90    20,615,446.77        2.47      8.671         355       81.80        617
Michigan                    125    13,436,420.95        1.61      9.272         354       82.68        594
Minnesota                    20     3,885,829.99        0.47      8.431         355       81.04        627
Mississippi                   6       525,541.04        0.06     10.289         342       90.47        570
Missouri                     66     7,492,887.28        0.90      9.323         356       84.41        596
Montana                       1       297,455.05        0.04     10.150         359       73.46        566
Nebraska                      4       323,119.45        0.04      9.080         358       87.25        612
Nevada                       93    19,876,786.01        2.38      8.152         350       81.56        636
New Hampshire                 6     1,140,538.41        0.14      8.679         357       82.39        639
New Jersey                   78    20,673,940.41        2.48      8.901         357       77.01        607
New Mexico                   15     2,654,554.65        0.32      8.607         357       84.27        607
New York                    139    41,732,227.21        5.00      8.075         356       76.69        650
North Carolina               41     4,797,169.64        0.57      9.013         356       81.62        615
North Dakota                  4       438,789.85        0.05      9.379         358       92.38        588
Ohio                         50     4,958,808.03        0.59      9.482         350       84.45        596
Oklahoma                     12     1,193,942.44        0.14      8.964         351       82.49        640
Oregon                       48     8,388,711.24        1.00      8.274         355       79.82        606
Pennsylvania                125    15,389,416.62        1.84      8.798         355       81.23        608
Rhode Island                 74    15,231,724.63        1.82      8.545         357       79.23        617
South Carolina                9       699,964.84        0.08      9.491         357       84.47        642
South Dakota                  1        85,157.70        0.01      8.950         357       63.19        514
Tennessee                    64     7,215,691.93        0.86      9.170         356       82.74        609
Texas                       267    26,645,529.27        3.19      8.714         343       81.65        615
Utah                         15     2,950,694.25        0.35      8.559         357       80.61        630
Vermont                       2       201,985.53        0.02      7.412         357       71.05        597
Virginia                     99    17,526,643.12        2.10      8.716         353       78.29        608
Washington                   87    16,283,977.29        1.95      8.239         351       80.51        606
West Virginia
Wisconsin                    30     3,942,374.63        0.47      8.739         349       82.91        622
Wyoming                       2       349,842.63        0.04      8.195         359       75.02        569
                          -----   --------------      ------     ------         ---       -----        ---
TOTAL:                    4,207   834,934,301.16      100.00      8.458         351       80.13        626
                          =====   ==============      ======     ======         ===       =====        ===


2. GEOGRAPHIC DISTRIBUTION BY STATE - FIXED RATE



                                                      % OF
                                                    MORTGAGE
                                                    POOL BY
                                     AGGREGATE     AGGREGATE   WEIGHTED    WEIGHTED    WEIGHTED
                        NUMBER        CUT-OFF       CUT-OFF     AVERAGE    AVERAGE     AVERAGE    WEIGHTED
GEOGRAPHIC                OF           DATE           DATE       GROSS    REMAINING    COMBINED    AVERAGE
DISTRIBUTION           MORTGAGE      PRINCIPAL     PRINCIPAL   INTEREST      TERM      ORIGINAL     FICO
BY STATE ARM             LOANS      BALANCE ($)     BALANCE    RATE (%)    (MONTHS)      LTV        SCORE
--------------------   --------   --------------   ---------   --------   ---------    --------   --------

Alabama                      10       691,347.76        0.63      9.018         325       78.57        567
Alaska
Arizona                      26     2,395,729.66        2.17      9.044         307       79.63        628
Arkansas                      2        60,295.29        0.05      8.720         356       66.57        568
California-Northern          51     5,999,324.73        5.44      9.699         253       87.06        654
California-Southern         167    20,461,739.49       18.57      9.663         262       86.41        645
Colorado                     17     1,446,324.93        1.31      9.646         303       90.64        621
Connecticut                  14     2,074,590.10        1.88      9.670         348       77.26        608
Delaware                      1        36,967.03        0.03     13.190         176      100.00        626
District of Columbia
Florida                     152    14,607,241.25       13.26      9.292         303       82.54        627
Georgia                      12     1,494,846.20        1.36      9.649         348       87.59        611
Hawaii                        3       635,474.04        0.58      7.479         357       79.62        669
Idaho                         4       590,878.66        0.54      8.166         358       85.69        629
Illinois                     70     7,147,211.68        6.49      9.424         308       86.01        611
Indiana                      14     1,214,801.46        1.10      9.429         346       86.76        563
Iowa                          2        91,157.85        0.08      9.327         324       91.82        632
Kansas                        3       320,895.80        0.29      9.961         296       86.28        582
Kentucky                      2        55,725.02        0.05     11.281         176       88.98        568
Louisiana                    10       975,642.03        0.89      8.703         346       83.57        612
Maine
Maryland                     15     2,587,534.82        2.35      8.371         344       83.07        666
Massachusetts                16     2,864,916.26        2.60      9.362         344       81.87        624
Michigan                     24     2,060,082.43        1.87      9.013         342       86.98        621
Minnesota                     4       461,972.61        0.42      8.224         346       83.69        618
Mississippi                   5       413,604.16        0.38     10.678         337       93.31        569
Missouri                     14     1,314,922.78        1.19      8.611         348       87.07        605
Montana
Nebraska                      1        26,941.07        0.02     11.750         353      100.00        602
Nevada                       19     2,075,883.51        1.88      8.956         292       91.19        655
New Hampshire                 2       340,105.69        0.31      8.947         357       80.00        572
New Jersey                   12     3,163,441.76        2.87      9.075         357       74.26        608
New Mexico                    2       180,668.16        0.16      9.325         357       87.77        592
New York                     41    10,519,125.05        9.55      7.686         352       70.91        669
North Carolina                9     1,185,986.08        1.08      8.378         351       76.76        624
North Dakota
Ohio                         15     1,205,788.65        1.09      9.345         326       87.79        593
Oklahoma                      4       273,046.49        0.25      9.385         328       84.57        665
Oregon                        3       336,059.54        0.30      9.288         294       75.69        602
Pennsylvania                 29     2,701,515.79        2.45      8.799         343       78.49        599
Rhode Island                 13     1,554,432.06        1.41      9.509         351       86.30        659
South Carolina                2       125,821.63        0.11      9.950         357       85.68        634
South Dakota                  1        85,157.70        0.08      8.950         357       63.19        514
Tennessee                    11       819,787.12        0.74      9.215         346       77.79        583
Texas                       134    10,567,850.75        9.59      8.706         321       82.00        621
Utah                          1       146,796.77        0.13     10.650         358      100.00        574
Vermont
Virginia                     23     2,678,880.80        2.43      9.236         329       79.64        616
Washington                   16     1,637,663.50        1.49      9.269         294       87.05        631
West Virginia
Wisconsin                     6       566,493.64        0.51     10.414         296       92.01        627
Wyoming
                            ---   --------------      ------     ------         ---      ------        ---
TOTAL:                      982   110,194,671.80      100.00      9.118         311       82.69        631
                            ===   ==============      ======     ======         ===      ======        ===


3. GEOGRAPHIC DISTRIBUTION BY STATE - ARM



                                                      % OF
                                                    MORTGAGE
                                                    POOL BY
                                     AGGREGATE     AGGREGATE   WEIGHTED    WEIGHTED    WEIGHTED
                        NUMBER        CUT-OFF       CUT-OFF     AVERAGE    AVERAGE     AVERAGE    WEIGHTED
GEOGRAPHIC                OF           DATE           DATE       GROSS    REMAINING    COMBINED    AVERAGE
DISTRIBUTION           MORTGAGE      PRINCIPAL     PRINCIPAL   INTEREST      TERM      ORIGINAL     FICO
BY STATE IO              LOANS      BALANCE ($)     BALANCE    RATE (%)    (MONTHS)      LTV        SCORE
--------------------   --------   --------------   ---------   --------   ---------    --------   --------

Alabama                      10       827,840.64        0.11      9.589         357       83.18        551
Alaska                        1       133,712.98        0.02      9.150         356       80.00        659
Arizona                     149    29,587,310.79        4.08      8.469         357       78.81        611
Arkansas                      9     1,403,376.29        0.19      9.065         358       82.34        591
California-Northern         225    75,660,943.38       10.44      8.015         357       79.13        640
California-Southern         472   168,929,182.24       23.31      7.998         356       79.53        640
Colorado                     38     6,607,120.04        0.91      8.260         357       79.52        632
Connecticut                  60    12,828,884.16        1.77      8.374         357       78.58        617
Delaware                      9     1,706,155.45        0.24      8.846         357       80.27        620
District of Columbia          7     2,015,942.53        0.28      7.838         357       74.39        640
Florida                     514   104,549,777.31       14.43      8.441         357       79.12        621
Georgia                      80    11,838,942.14        1.63      8.850         357       82.39        615
Hawaii                       24    10,702,183.02        1.48      8.132         357       78.26        651
Idaho                        20     2,712,333.11        0.37      9.423         358       85.25        608
Illinois                    253    50,106,731.71        6.91      8.630         357       80.99        623
Indiana                      33     3,153,529.50        0.44      9.210         357       85.56        605
Iowa                         11     1,345,266.52        0.19      9.084         356       77.62        600
Kansas                       16     1,865,119.99        0.26      8.965         357       74.44        589
Kentucky                      9       877,800.55        0.12      8.516         357       82.16        595
Louisiana                    11     1,507,068.76        0.21      8.878         357       83.74        605
Maine                         8     1,601,768.99        0.22      8.332         357       89.72        657
Maryland                    100    23,130,412.40        3.19      8.331         357       77.79        607
Massachusetts                74    17,750,530.51        2.45      8.559         357       81.79        615
Michigan                    101    11,376,338.52        1.57      9.319         357       81.90        590
Minnesota                    16     3,423,857.38        0.47      8.459         356       80.69        628
Mississippi                   1       111,936.88        0.02      8.850         359       80.00        575
Missouri                     52     6,177,964.50        0.85      9.474         357       83.85        594
Montana                       1       297,455.05        0.04     10.150         359       73.46        566
Nebraska                      3       296,178.38        0.04      8.837         358       86.09        613
Nevada                       74    17,800,902.50        2.46      8.059         357       80.44        634
New Hampshire                 4       800,432.72        0.11      8.566         357       83.41        668
New Jersey                   66    17,510,498.65        2.42      8.869         357       77.51        607
New Mexico                   13     2,473,886.49        0.34      8.555         357       84.01        608
New York                     98    31,213,102.16        4.31      8.206         357       78.64        644
North Carolina               32     3,611,183.56        0.50      9.221         357       83.21        611
North Dakota                  4       438,789.85        0.06      9.379         358       92.38        588
Ohio                         35     3,753,019.38        0.52      9.527         357       83.38        597
Oklahoma                      8       920,895.95        0.13      8.840         357       81.87        632
Oregon                       45     8,052,651.70        1.11      8.232         357       79.99        606
Pennsylvania                 96    12,687,900.83        1.75      8.798         357       81.81        610
Rhode Island                 61    13,677,292.57        1.89      8.435         357       78.43        613
South Carolina                7       574,143.21        0.08      9.390         357       84.21        644
South Dakota
Tennessee                    53     6,395,904.81        0.88      9.164         357       83.38        613
Texas                       133    16,077,678.52        2.22      8.719         357       81.42        612
Utah                         14     2,803,897.48        0.39      8.450         357       79.59        633
Vermont                       2       201,985.53        0.03      7.412         357       71.05        597
Virginia                     76    14,847,762.32        2.05      8.623         357       78.05        606
Washington                   71    14,646,313.79        2.02      8.124         357       79.78        603
West Virginia
Wisconsin                    24     3,375,880.99        0.47      8.458         357       81.39        621
Wyoming                       2       349,842.63        0.05      8.195         359       75.02        569
                          -----   --------------      ------     ------         ---       -----        ---
TOTAL:                    3,225   724,739,629.36      100.00      8.358         357       79.74        625
                          =====   ==============      ======     ======         ===       =====        ===


4. GEOGRAPHIC DISTRIBUTION BY STATE - INTEREST ONLY



                                                      % OF
                                                    MORTGAGE
                                                    POOL BY
                                     AGGREGATE     AGGREGATE   WEIGHTED    WEIGHTED    WEIGHTED
                        NUMBER        CUT-OFF       CUT-OFF     AVERAGE    AVERAGE     AVERAGE    WEIGHTED
GEOGRAPHIC                OF           DATE           DATE       GROSS    REMAINING    COMBINED    AVERAGE
DISTRIBUTION           MORTGAGE      PRINCIPAL     PRINCIPAL   INTEREST      TERM      ORIGINAL     FICO
BY STATE IO              LOANS      BALANCE ($)     BALANCE    RATE (%)    (MONTHS)      LTV        SCORE
--------------------   --------   --------------   ---------   --------   ---------    --------   --------

Alabama
Alaska
Arizona                      34     7,671,777.00        4.72      7.985         356       79.87        644
Arkansas
California-Northern          76    27,328,912.95       16.82      7.757         356       80.71        659
California-Southern         162    61,540,914.91       37.87      7.702         356       80.73        662
Colorado                      8     1,216,549.10        0.75      7.980         356       83.21        653
Connecticut                   3       543,600.00        0.33      8.158         356       75.72        638
Delaware                      1       252,000.00        0.16      7.350         358       80.00        677
District of Columbia          1       232,000.00        0.14      7.575         358       51.10        629
Florida                      81    19,208,897.93       11.82      7.944         357       80.12        663
Georgia                      10     2,238,317.47        1.38      8.156         357       82.98        657
Hawaii                        6     3,164,746.06        1.95      7.767         356       81.65        666
Idaho                         1       146,400.00        0.09      8.200         356       80.00        636
Illinois                     18     4,271,020.98        2.63      7.901         358       79.92        669
Indiana
Iowa
Kansas                        1       151,600.00        0.09      7.500         354       80.00        612
Kentucky                      1       210,000.00        0.13      6.800         358       73.68        637
Louisiana
Maine                         1       240,000.00        0.15      6.850         357       77.42        636
Maryland                     23     6,929,870.00        4.26      7.617         357       79.65        655
Massachusetts                 5     1,612,750.00        0.99      8.305         357       84.30        630
Michigan                      3       386,400.00        0.24      8.185         358       80.00        642
Minnesota                     2       287,195.73        0.18      7.489         357       80.00        743
Mississippi
Missouri                      1        92,000.00        0.06      7.250         359       80.00        652
Montana
Nebraska
Nevada                       25     6,428,958.00        3.96      7.498         357       81.69        661
New Hampshire
New Jersey                    6     1,792,808.80        1.10      7.639         357       70.87        637
New Mexico                    1       368,000.00        0.23      7.650         357       80.00        653
New York                     17     7,143,948.27        4.40      7.856         358       82.70        665
North Carolina                2       494,000.00        0.30      6.952         357       79.05        681
North Dakota
Ohio                          3       491,129.45        0.30      8.063         357       80.00        622
Oklahoma
Oregon                        5       939,200.00        0.58      7.881         358       79.67        660
Pennsylvania                  4       502,000.00        0.31      7.795         358       84.22        623
Rhode Island                  8     2,176,550.00        1.34      7.378         358       82.53        631
South Carolina                1        98,800.00        0.06      7.475         358       80.00        602
South Dakota
Tennessee                     1        76,800.00        0.05      7.350         358       80.00        637
Texas                         4       781,742.02        0.48      8.592         357       80.00        680
Utah
Vermont                       1       128,000.00        0.08      6.500         358       80.00        613
Virginia                      7     1,835,150.00        1.13      7.728         358       80.54        654
Washington                    8     1,525,967.20        0.94      7.254         357       80.72        652
West Virginia
Wisconsin
Wyoming
                            ---   --------------      ------      -----         ---       -----        ---
TOTAL:                      531   162,508,005.87      100.00      7.762         357       80.60        659
                            ===   ==============      ======      =====         ===       =====        ===


COLLATERAL NUMBERS



                                                                              % OF
                                                                            MORTGAGE
                                                                            POOL BY
                                                             AGGREGATE     AGGREGATE
                                                NUMBER        CUT-OFF       CUT-OFF
                                                  OF           DATE           DATE
                                               MORTGAGE      PRINCIPAL     PRINCIPAL
COLLATERAL TYPE                                  LOANS      BALANCE ($)     BALANCE
----------------                               --------   --------------   ---------

Negative amortization loans                          --               --          --
Investment property cash-outs                       150    25,553,933.87        3.06
Interest only, investment property cash-outs          3     1,263,324.86        0.15
Loans with 80LTV                                  1,535   359,477,637.55       43.05
Loans with 100CLTV                                  468    34,894,076.51        4.18


ARM PRODUCT TYPE



                                                                                            % of
                                                                                          Mortgage
                                                                                          Pool by
                                                                            Aggregate    Aggregate  Weighted   Weighted
                                                                Number       Cut-off      Cut-off    Average   Average
                                                                  of          Date          Date      Gross   Remaining
                                                               Mortgage     Principal    Principal  Interest     Term
ARM                                                              Loans     Balance ($)    Balance   Rate (%)   (months)
---                                                            --------  --------------  ---------  --------  ---------

ARM - 6 Month - No Prepay Penalty
ARM - 6 Month - 2 Yr. Prepay Penalty
ARM - 6 Month - 5 Yr. Prepay Penalty
ARM - 1 Year/6 Month - No Prepay Penalty                              1      274,324.98       0.04     7.500        352
ARM - 1 Year/6 Month - 1 Yr. Prepay Penalty                           1      268,513.38       0.04     7.990        352
ARM - 2 Year/6 Month - No Prepay Penalty                            362   67,259,925.40       9.28     8.933        357
ARM - 2 Year/6 Month - .5 Yr. Prepay Penalty                          6      922,390.47       0.13     9.308        357
ARM - 2 Year/6 Month - 1 Yr. Prepay Penalty                          65   18,280,903.22       2.52     8.632        357
ARM - 2 Year/6 Month - 1.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month - 2 Yr. Prepay Penalty                         733  135,595,440.26      18.71     8.559        357
ARM - 2 Year/6 Month - 2.5 Yr. Prepay Penalty                         1      161,857.59       0.02    10.050        358
ARM - 2 Year/6 Month - 3 Yr. Prepay Penalty                          27    4,539,007.66       0.63     8.802        357
ARM - 2 Year/6 Month - 5 Yr. Prepay Penalty                           9      939,213.14       0.13     9.119        357
ARM - 3 Year/6 Month - No Prepay Penalty                            170   26,347,116.46       3.64     8.885        357
ARM - 3 Year/6 Month - 1 Yr. Prepay Penalty                          17    3,938,038.60       0.54     8.788        357
ARM - 3 Year/6 Month - 2 Yr. Prepay Penalty                           5      858,302.33       0.12     9.069        358
ARM - 3 Year/6 Month - 2.5 Yr. Prepay Penalty                         3      608,529.37       0.08     9.649        358
ARM - 3 Year/6 Month - 3 Yr. Prepay Penalty                         289   45,548,479.41       6.28     8.898        357
ARM - 3 Year/6 Month - 5 Yr. Prepay Penalty                           4      485,741.49       0.07    10.055        357
ARM - 5 Year/6 Month - No Prepay Penalty                              4      955,242.40       0.13     8.927        355
ARM - 5 Year/6 Month - 1 Yr. Prepay Penalty                           1       34,979.22       0.00     8.600        359
ARM - 5 Year/6 Month - 2 Yr. Prepay Penalty
ARM - 5 Year/6 Month - 3 Yr. Prepay Penalty                           6      924,259.66       0.13     7.828        358
ARM - 5 Year/6 Month - 5 Yr. Prepay Penalty                           1       76,402.43       0.01    10.500        357
Interest Only ARM - 2 Year/6 Month - No Prepay Penalty               81   26,127,087.50       3.61     8.141        357
Interest Only ARM - 2 Year/6 Month - .5 Yr. Prepay Penalty            4    1,146,600.00       0.16     7.843        358
Interest Only ARM - 2 Year/6 Month - 1 Yr. Prepay Penalty            36   12,559,071.18       1.73     7.971        357
Interest Only ARM - 2 Year/6 Month - 2 Yr. Prepay Penalty           289   87,967,484.37      12.14     7.678        356
Interest Only ARM - 2 Year/6 Month - 3 Yr. Prepay Penalty            14    4,905,995.23       0.68     7.132        356
Interest Only ARM - 2 Year/6 Month - 5 Yr. Prepay Penalty
Interest Only ARM - 3 Year/6 Month - No Prepay Penalty               11    3,541,850.00       0.49     8.081        356
Interest Only ARM - 3 Year/6 Month - 1 Yr. Prepay Penalty             5    1,993,450.00       0.28     7.281        358
Interest Only ARM - 3 Year/6 Month - 2 Yr. Prepay Penalty             2      609,637.39       0.08     6.728        353
Interest Only ARM - 3 Year/6 Month - 2.5 Yr. Prepay Penalty
Interest Only ARM - 3 Year/6 Month - 3 Yr. Prepay Penalty            67   16,949,006.43       2.34     7.806        357
Interest Only ARM - 5 Year/6 Month - No Prepay Penalty                1      157,439.00       0.02     8.570        358
Interest Only ARM - 5 Year/6 Month - 1 Yr. Prepay Penalty
Interest Only ARM - 5 Year/6 Month - 2 Yr. Prepay Penalty             1      592,500.00       0.08     6.500        358
Interest Only ARM - 5 Year/6 Month - 3 Yr. Prepay Penalty             2      538,000.00       0.07     8.314        357
Interest Only ARM - 5 Year/6 Month - 5 Yr. Prepay Penalty             3      607,900.00       0.08     6.666        358
ARM - 2 Year/6 Month Balloon 15/30 - No Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - .5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 1 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 1.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 2 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 2.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 3 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 4 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - No Prepay Penalty              191   51,431,628.04       7.10     8.635        357
ARM - 2 Year/6 Month Balloon 30/40 - .5 Yr. Prepay Penalty            5    1,420,720.42       0.20     8.576        356
ARM - 2 Year/6 Month Balloon 30/50 - 1 Yr. Prepay Penalty             1      203,934.59       0.03     8.450        357
ARM - 2 Year/6 Month Balloon 30/40 - 1 Yr. Prepay Penalty            59   18,857,756.03       2.60     8.273        357
ARM - 2 Year/6 Month Balloon 30/40 - 1.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - 2 Yr. Prepay Penalty           501  131,990,441.49      18.21     8.090        357
ARM - 2 Year/6 Month Balloon 30/40 - 2.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - 3 Yr. Prepay Penalty            30    8,829,883.56       1.22     8.038        356
ARM - 2 Year/6 Month Balloon 30/40 - 4 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - 5 Yr. Prepay Penalty             3      616,856.63       0.09     9.364        358
ARM - 3 Year/6 Month Balloon 30/40 - No Prepay Penalty               52    9,900,527.82       1.37     8.797        358
ARM - 3 Year/6 Month Balloon 30/40 - .5 Yr. Prepay Penalty
ARM - 3 Year/6 Month Balloon 30/40 - 1 Yr. Prepay Penalty             5      879,383.43       0.12     9.495        358
ARM - 3 Year/6 Month Balloon 30/40 - 2 Yr. Prepay Penalty             8    2,780,807.72       0.38     7.301        357
ARM - 3 Year/6 Month Balloon 30/40 - 2.5 Yr. Prepay Penalty           1      174,090.26       0.02     8.800        356
ARM - 3 Year/6 Month Balloon 30/40 - 3 Yr. Prepay Penalty           144   30,825,644.88       4.25     8.313        357
ARM - 3 Year/6 Month Balloon 30/40 - 5 Yr. Prepay Penalty             1      171,914.50       0.02     8.500        358
ARM - 5 Year/6 Month Balloon 30/40 - No Prepay Penalty
ARM - 5 Year/6 Month Balloon 30/40 - 1 Yr. Prepay Penalty
ARM - 5 Year/6 Month Balloon 30/40 - 3 Yr. Prepay Penalty
ARM - 5 Year/6 Month Balloon 30/40 - 5 Yr. Prepay Penalty
ARM - Dual Amort - 10/40 2 Year/6 Month - No Prepay Penalty
ARM - Dual Amort - 10/40 2 Year/6 Month - 2 Yr Prepay Penalty         2      343,116.72       0.05     7.178        352
ARM - Dual Amort - 10/40 2 Year/6 Month - 3 Yr Prepay Penalty         1      598,234.70       0.08     7.200        352
                                                                  -----  --------------     ------    ------        ---
TOTAL:                                                            3,225  724,739,629.36     100.00     8.358        357
                                                                  =====  ==============     ======    ======        ===




                                                                                                                 Weighted
                                                               Weighted            Weighted                       Average
                                                                Average  Weighted   Average  Weighted             Initial  Weighted
                                                               Combined   Average  Interest   Average  Weighted  Periodic   Average
                                                               Original    FICO      Only     Prepay    Average    Rate      Life
ARM                                                               LTV      Score     Term      Term     Margin      Cap       Cap
---                                                            --------  --------  --------  --------  --------  --------  --------

ARM - 6 Month - No Prepay Penalty
ARM - 6 Month - 2 Yr. Prepay Penalty
ARM - 6 Month - 5 Yr. Prepay Penalty
ARM - 1 Year/6 Month - No Prepay Penalty                          80.00       596        --        --     5.250     2.000     7.000
ARM - 1 Year/6 Month - 1 Yr. Prepay Penalty                       90.00       608        --     12.00     5.250     2.000     5.000
ARM - 2 Year/6 Month - No Prepay Penalty                          79.26       614        --        --     6.048     2.347     6.618
ARM - 2 Year/6 Month - .5 Yr. Prepay Penalty                      75.49       592        --      6.00     6.010     1.500     7.000
ARM - 2 Year/6 Month - 1 Yr. Prepay Penalty                       79.72       635        --     12.00     6.180     2.422     6.409
ARM - 2 Year/6 Month - 1.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month - 2 Yr. Prepay Penalty                       78.79       612        --     24.00     6.505     2.631     6.588
ARM - 2 Year/6 Month - 2.5 Yr. Prepay Penalty                     90.00       601        --     30.00     7.500     3.000     7.000
ARM - 2 Year/6 Month - 3 Yr. Prepay Penalty                       79.66       579        --     36.00     6.317     2.348     6.368
ARM - 2 Year/6 Month - 5 Yr. Prepay Penalty                       79.11       580        --     60.00     6.049     1.500     7.000
ARM - 3 Year/6 Month - No Prepay Penalty                          79.40       591        --        --     6.610     2.934     6.983
ARM - 3 Year/6 Month - 1 Yr. Prepay Penalty                       76.34       623        --     12.00     7.074     2.772     7.000
ARM - 3 Year/6 Month - 2 Yr. Prepay Penalty                       79.01       581        --     24.00     7.500     3.000     7.000
ARM - 3 Year/6 Month - 2.5 Yr. Prepay Penalty                     88.64       618        --     30.00     7.038     2.541     7.000
ARM - 3 Year/6 Month - 3 Yr. Prepay Penalty                       78.53       591        --     36.00     7.090     2.686     6.972
ARM - 3 Year/6 Month - 5 Yr. Prepay Penalty                       82.92       534        --     60.00     6.759     1.500     7.000
ARM - 5 Year/6 Month - No Prepay Penalty                          77.73       578        --        --     6.017     2.082     5.165
ARM - 5 Year/6 Month - 1 Yr. Prepay Penalty                       45.16       648        --     12.00     5.100     1.500     7.000
ARM - 5 Year/6 Month - 2 Yr. Prepay Penalty
ARM - 5 Year/6 Month - 3 Yr. Prepay Penalty                       74.84       687        --     36.00     5.824     2.533     6.790
ARM - 5 Year/6 Month - 5 Yr. Prepay Penalty                       85.00       615        --     60.00     7.500     1.500     7.000
Interest Only ARM - 2 Year/6 Month - No Prepay Penalty            81.16       669     60.43        --     6.178     2.513     6.638
Interest Only ARM - 2 Year/6 Month - .5 Yr. Prepay Penalty        76.59       695     60.00      6.00     3.741     1.500     7.000
Interest Only ARM - 2 Year/6 Month - 1 Yr. Prepay Penalty         80.82       649     60.00     12.00     6.144     2.430     6.773
Interest Only ARM - 2 Year/6 Month - 2 Yr. Prepay Penalty         80.80       655     59.82     24.00     6.398     2.569     6.758
Interest Only ARM - 2 Year/6 Month - 3 Yr. Prepay Penalty         78.94       660     60.00     36.00     5.587     2.498     6.202
Interest Only ARM - 2 Year/6 Month - 5 Yr. Prepay Penalty
Interest Only ARM - 3 Year/6 Month - No Prepay Penalty            80.02       664     60.00        --     6.964     2.819     6.825
Interest Only ARM - 3 Year/6 Month - 1 Yr. Prepay Penalty         79.63       679     60.00     12.00     6.100     2.796     6.528
Interest Only ARM - 3 Year/6 Month - 2 Yr. Prepay Penalty         79.69       652     60.00     24.00     6.154     2.564     6.436
Interest Only ARM - 3 Year/6 Month - 2.5 Yr. Prepay Penalty
Interest Only ARM - 3 Year/6 Month - 3 Yr. Prepay Penalty         80.80       664     59.42     36.00     6.349     2.520     6.931
Interest Only ARM - 5 Year/6 Month - No Prepay Penalty            89.97       627    120.00        --     6.850     5.000     5.000
Interest Only ARM - 5 Year/6 Month - 1 Yr. Prepay Penalty
Interest Only ARM - 5 Year/6 Month - 2 Yr. Prepay Penalty         79.00       699     60.00     24.00     6.250     3.000     7.000
Interest Only ARM - 5 Year/6 Month - 3 Yr. Prepay Penalty         85.99       680     95.69     36.00     4.047     4.190     5.810
Interest Only ARM - 5 Year/6 Month - 5 Yr. Prepay Penalty         66.57       661     60.00     60.00     3.314     1.500     7.000
ARM - 2 Year/6 Month Balloon 15/30 - No Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - .5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 1 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 1.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 2 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 2.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 3 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 4 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 15/30 - 5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - No Prepay Penalty            81.64       631        --        --     6.095     2.176     6.665
ARM - 2 Year/6 Month Balloon 30/40 - .5 Yr. Prepay Penalty        79.92       625        --      6.00     5.134     1.931     6.713
ARM - 2 Year/6 Month Balloon 30/50 - 1 Yr. Prepay Penalty         80.00       625        --     12.00     5.250     2.000     5.000
ARM - 2 Year/6 Month Balloon 30/40 - 1 Yr. Prepay Penalty         80.01       645        --     12.00     5.999     2.251     6.652
ARM - 2 Year/6 Month Balloon 30/40 - 1.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - 2 Yr. Prepay Penalty         79.60       623        --     24.00     6.351     2.472     6.751
ARM - 2 Year/6 Month Balloon 30/40 - 2.5 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - 3 Yr. Prepay Penalty         79.46       611        --     36.00     5.670     2.185     6.067
ARM - 2 Year/6 Month Balloon 30/40 - 4 Yr. Prepay Penalty
ARM - 2 Year/6 Month Balloon 30/40 - 5 Yr. Prepay Penalty         79.07       590        --     60.00     5.864     1.500     7.000
ARM - 3 Year/6 Month Balloon 30/40 - No Prepay Penalty            80.66       598        --        --     6.468     2.768     7.000
ARM - 3 Year/6 Month Balloon 30/40 - .5 Yr. Prepay Penalty
ARM - 3 Year/6 Month Balloon 30/40 - 1 Yr. Prepay Penalty         74.86       619        --     12.00     7.169     2.280     7.000
ARM - 3 Year/6 Month Balloon 30/40 - 2 Yr. Prepay Penalty         84.14       645        --     24.00     6.105     2.767     7.000
ARM - 3 Year/6 Month Balloon 30/40 - 2.5 Yr. Prepay Penalty       85.00       640        --     30.00     7.500     3.000     7.000
ARM - 3 Year/6 Month Balloon 30/40 - 3 Yr. Prepay Penalty         79.54       619        --     36.00     6.548     2.360     7.000
ARM - 3 Year/6 Month Balloon 30/40 - 5 Yr. Prepay Penalty         80.00       597        --     60.00     5.000     1.500     7.000
ARM - 5 Year/6 Month Balloon 30/40 - No Prepay Penalty
ARM - 5 Year/6 Month Balloon 30/40 - 1 Yr. Prepay Penalty
ARM - 5 Year/6 Month Balloon 30/40 - 3 Yr. Prepay Penalty
ARM - 5 Year/6 Month Balloon 30/40 - 5 Yr. Prepay Penalty
ARM - Dual Amort - 10/40 2 Year/6 Month - No Prepay Penalty
ARM - Dual Amort - 10/40 2 Year/6 Month - 2 Yr Prepay Penalty     67.90       632        --     24.00     5.546     3.000     6.605
ARM - Dual Amort - 10/40 2 Year/6 Month - 3 Yr Prepay Penalty     80.00       630        --     36.00     5.250     2.000     5.000
                                                                  -----       ---     -----     -----     -----     -----     -----
TOTAL:                                                            79.74       625     60.09     18.84     6.361     2.501     6.713
                                                                  =====       ===     =====     =====     =====     =====     =====




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*    CLTV SHOULD INCLUDE FIRST MORTGAGE BALANCE AND ANY ADDITIONAL MORTGAGES ON
     THE PROPERTY WHETHER IN THIS COLLATERAL POOL OR NOT

*    FRONT END DTI SHOULD INCLUDE ONLY MORTGAGE EXPENSES (P AND I, PROPERTY
     TAXES AND INSURANCE)

*    BACK END DTI SHOULD INCLUDE MORTGAGE EXPENSES AND ALL OTHER DEBT



Deal                                            Loan                    Deal                                  Front    Back   Full
Name            Loan Characteristics           Number     Balance    Percentage   WAC  WALA FICO  OLTV COLTV End DTI End DTI   Doc
---- ----------------------------------------- ------ -------------- ---------- ------ ---- ---- ----- ----- ------- ------- ------

                    Aggregated                  4,207    834,934,301   100.00    8.458   3   626 77.35 87.42  34.60   42.79   41.02
                    Rate 9.5-10                   471  76,554,416.61     9.17    9.771   3   580 79.23 83.65  32.95   42.89   39.29
                 RATE 10.001-10.5                 178  23,779,928.59     2.85   10.296   3   580 77.51 85.45  33.38   42.96   38.73
                  RATE 10.501-11                  203  22,321,439.78     2.67   10.779   3   596 69.28 87.32  31.51   41.51   38.74
                 RATE 11.001-11.5                  91   9,173,712.03     1.10   11.262   4   606 47.79 86.61  34.92   41.94   39.14
              RATE greater than 11.5              277  18,847,589.45     2.26   12.156   4   624 30.64 96.05  36.30   43.86   19.02
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                    LB <=50,000                   248   9,283,423.98     1.11   11.173   4   634 33.03 94.07  29.37   40.37   37.18
                  LB 50,001-100K                  779  59,415,786.74     7.12    9.631   3   615 65.19 87.63  30.22   40.03   51.88
                    LB 100-200K                 1,544 227,666,338.69    27.27    8.712   3   611 75.76 84.62  32.61   41.94   51.76
                    LB 200-300k                   866 211,499,684.51    25.33    8.275   3   622 79.25 86.60  35.52   43.44   42.02
                   LB 300K-400K                   404 139,336,159.89    16.69    8.143   3   636 79.92 88.26  36.02   43.71   30.11
                   LB 400K-500k                   219  98,185,275.90    11.76    8.045   3   640 80.96 91.87  37.38   43.91   29.59
                    LB 500-600k                    89  48,760,140.16     5.84    8.053   3   645 81.49 90.48  37.12   43.16   32.53
                    LB 600-700k                    34  21,963,801.28     2.63    8.136   3   653 81.37 88.54  35.84   42.48   32.80
                    LB 700-800k                    19  14,142,152.37     1.69    8.468   4   653 82.74 90.34  34.99   42.90   26.23
                    LB 800-900k                     2   1,704,621.74     0.20    8.431   3   646 84.37 84.37   9.80   37.07  100.00
                    LB 900-1MM                      3   2,976,915.90     0.36    7.537   3   653 78.54 78.54  28.64   42.20   66.41
                     LB > 1MM
                      FICO NA
                     FICO <500                     13   1,982,483.00     0.24    9.838   3   500 69.30 72.18  35.85   43.10   84.89
                   FICO 501-525                   283  46,812,637.21     5.61    9.520   3   513 71.83 72.15  36.11   42.49   67.61
                   FICO 526-550                   307  53,224,357.81     6.37    9.286   3   538 73.50 74.08  35.34   41.95   52.16
                   FICO 551-575                   350  63,624,535.15     7.62    8.907   3   563 77.39 78.21  35.60   42.39   56.66
                   FICO 576-600                   475  87,827,158.56    10.52    8.655   3   589 79.39 83.01  35.58   42.59   54.62
                   FICO 601-625                   732 149,278,722.76    17.88    8.350   3   613 78.67 88.66  34.35   42.56   50.32
                   FICO 626-650                   813 158,857,154.36    19.03    8.327   3   637 77.24 90.76  33.77   43.12   33.89
                   FICO 651-700                   873 191,344,866.17    22.92    8.110   3   671 77.42 93.08  34.12   43.23   25.51
                       >700                       361  81,982,386.14     9.82    7.986   3   735 78.68 95.11  34.57   42.72   23.88
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                      LTV 80                    1,535 359,477,637.55    43.05    8.083   3   646 80.00 95.44  35.15   43.37   33.59
                     LTV 80-85                    437  87,800,198.45    10.52    8.668   3   606 84.51 85.32  34.13   42.14   47.64
                   LTV 85.01-90                   449  98,133,687.14    11.75    8.684   3   627 89.43 90.05  33.30   43.00   46.88
                   LTV 90.01-95                   194  39,254,352.82     4.70    8.969   3   643 93.36 94.78  30.36   42.79   59.42
                   LTV 95.01-100                  508  38,338,430.39     4.59   10.898   4   652 41.27 99.87  35.46   43.50   35.71
                     LTV >100
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                     2nd Home                      53     12,666,712     1.52    8.902   3   652 81.84 90.21  13.48   43.72   34.62
                  Invest Property                 294     49,653,254     5.95    9.026   3   652 81.84 82.28  19.35   39.87   35.11
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                     2nd lien                     460     29,173,789     3.49   11.483   4   657 20.01 99.52  36.26   43.71   22.77
               Simultaneous Seconds             1,321    314,904,178    37.72    7.996   3   658 80.13 99.45  35.47   43.83   31.07
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                    Stated Doc                  2,137    456,501,438    54.68    8.630   3   641 76.47 88.68  35.30   43.49      --
                      No Doc
                      Limited                     173     35,981,758     4.31    8.300   4   619 77.57 89.68  30.28   39.66      --
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                     Cash Out                   2,110    437,916,030    52.45    8.465   3   603 77.26 79.91  34.88   42.40   48.31
                     Purchase                   1,871    357,138,841    42.77    8.464   3   656 77.11 97.07  34.45   43.36   29.88
                  Refi-Rate Term                  226     39,879,430     4.78    8.331   3   614 80.53 83.39  32.86   41.84   60.70
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                    2-4 Family                    300     78,056,397     9.35    8.502   3   645 75.46 85.03  35.36   42.95   31.73
                       Condo                      270     52,023,168     6.23    8.519   3   641 77.52 90.31  32.72   42.52   38.86
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                       Fixed                      982    110,194,672    13.20    9.118   3   631 61.64 84.42  33.88   41.85   50.05
                        Arm                     3,225    724,739,629    86.80    8.358   3   625 79.74 87.88  34.71   42.93   39.64
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                  Back DTI 45-50                1,392    295,759,293    35.42    8.489   3   629 77.93 89.73  38.15   47.69   36.31
                  Back DTI 50-55                  368     74,787,971     8.96    8.473   3   609 77.40 85.12  42.28   52.26   60.99
                   Back DTI > 55                   26      7,028,257     0.84    8.008   3   625 77.50 88.88  47.32   57.78   63.33
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                        IO                        531    162,508,006    19.46    7.762   3   659 80.60 93.24  35.83   43.27   37.24
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                       Cali                       915    271,051,190    32.46    8.166   4   641 75.72 89.50  36.64   43.43   30.43
                      N Cali                      276     81,660,268     9.78    8.138   3   641 76.22 90.08  36.27   43.39   20.06
                      S Cali                      639    189,390,922    22.68    8.178   4   641 75.51 89.25  36.81   43.45   34.90
                        NY                        139     41,732,227     5.00    8.075   3   650 76.09 84.02  36.35   42.92   33.61
                        FL                        666    119,157,019    14.27    8.545   3   622 76.41 85.79  34.21   42.90   37.77
                      Georgia                      92     13,333,788     1.60    8.939   3   614 82.06 90.97  31.39   40.62   60.86
                       Ohio                        50      4,958,808     0.59    9.482   3   596 83.94 90.18  28.72   41.65   69.66
                     Maryland                     115     25,717,947     3.08    8.335   3   613 76.93 83.24  35.04   41.93   62.66
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                    40 yr Loans                 1,070    273,546,325    32.76    8.245   3   625 80.02 88.13  35.90   43.45   39.62
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
            Purchase Loans w/Simul 2nds         1,101    260,438,527    31.19    8.016   3   661 80.20 99.71  35.74   43.91   28.24
      Stated Doc Purchase Loans w/Simul 2nds      687    175,298,931    21.00    8.138   3   673 80.10 99.67  36.73   44.36      --
          IO Purchase Loans w/Simul 2nds          298     88,050,118    10.55    7.776   4   671 79.91 99.72  36.02   44.22   31.02
     Stated Doc IO Purchase Loans w/Simul 2nds    179     54,534,045     6.53    8.018   3   681 79.89 99.70  36.90   44.47      --
                                                -----    -----------    -----    -----   -   --- ----- -----  -----   -----   -----
                   FICO Std Dev                 59.49
                    LTV Std Dev                 12.46




Deal                                            Loan  Primary Single          Simultaneous         Init  Subs  Life
Name            Loan Characteristics           Number  Owner  Family Purchase     2nds       IO    Cap   Cap   Cap
---- ----------------------------------------- ------ ------- ------ -------- ------------ ------ ----- ----- -----

                    Aggregated                  4,207   92.54  78.06   42.77      37.72     19.46 2.501 1.347 6.713
                    Rate 9.5-10                   471   85.69  78.63   26.92      11.97      4.67 2.496 1.342 6.721
                 RATE 10.001-10.5                 178   80.48  82.66   38.14       8.64      2.61 2.524 1.336 6.688
                  RATE 10.501-11                  203   87.49  81.57   50.24       7.55      0.46 2.511 1.323 6.690
                 RATE 11.001-11.5                  91   95.55  69.50   53.57       5.34        -- 2.374 1.349 6.702
              RATE greater than 11.5              277   95.34  77.22   80.39       0.93        -- 2.759 1.155 6.576
                    LB <=50,000                   248   92.24  85.25   74.94       1.05        -- 2.704 1.214 6.832
                  LB 50,001-100K                  779   88.40  85.40   48.91      21.25      1.60 2.566 1.384 6.834
                    LB 100-200K                 1,544   91.56  82.27   37.78      31.71      8.46 2.517 1.372 6.758
                    LB 200-300k                   866   93.91  79.67   39.92      37.42     20.39 2.538 1.355 6.725
                   LB 300K-400K                   404   92.51  79.15   44.18      42.73     26.57 2.479 1.345 6.749
                   LB 400K-500k                   219   95.31  74.42   50.50      55.08     33.10 2.533 1.322 6.623
                    LB 500-600k                    89   96.48  67.81   45.79      46.97     35.39 2.363 1.308 6.649
                    LB 600-700k                    34   90.92  55.68   52.80      38.26     40.83 2.494 1.230 6.573
                    LB 700-800k                    19   78.72  47.25   26.64      42.01     11.00 2.129 1.373 6.428
                    LB 800-900k                     2   50.16     --   49.84         --     50.16 2.000 1.249 5.997
                    LB 900-1MM                      3  100.00  66.79   33.21         --     33.59 2.332 1.166 6.664
                     LB > 1MM
                      FICO NA
                     FICO <500                     13  100.00 100.00    3.61         --        -- 2.710 1.407 6.691
                   FICO 501-525                   283   97.93  81.70    6.16       2.25      0.46 2.336 1.365 6.744
                   FICO 526-550                   307   98.35  81.83    9.49       4.01        -- 2.524 1.345 6.688
                   FICO 551-575                   350   96.86  87.35   12.10       5.23      1.04 2.555 1.342 6.692
                   FICO 576-600                   475   93.72  84.18   23.47      15.38      5.52 2.581 1.326 6.678
                   FICO 601-625                   732   94.13  81.62   39.77      37.68     24.19 2.453 1.332 6.693
                   FICO 626-650                   813   91.09  74.45   52.70      46.50     22.05 2.518 1.349 6.702
                   FICO 651-700                   873   89.88  73.57   59.23      58.46     31.21 2.535 1.358 6.733
                       >700                       361   86.97  70.26   78.55      64.54     31.64 2.420 1.363 6.779
                      LTV 80                    1,535   96.07  75.44   68.69      78.66     28.17 2.481 1.368 6.784
                     LTV 80-85                    437   87.74  83.43   14.43       5.79     14.31 2.366 1.340 6.653
                   LTV 85.01-90                   449   85.72  78.24   26.82       6.01     17.99 2.617 1.293 6.612
                   LTV 90.01-95                   194   76.58  82.54   39.42       2.56     15.66 2.516 1.277 6.681
                   LTV 95.01-100                  508   99.13  81.30   77.80         --      0.86 2.913 1.297 6.820
                     LTV >100
                     2nd Home                      53      --  58.11   69.54      40.73     14.23 2.199 1.347 6.745
                  Invest Property                 294      --  59.85   43.32       3.95      3.59 2.423 1.315 6.590
                     2nd lien                     460   99.38  77.58   87.82         --        --    --    --    --
               Simultaneous Seconds             1,321   97.74  75.57   82.70     100.00     33.32 2.527 1.379 6.820
                    Stated Doc                  2,137   92.03  76.42   51.23      44.47     20.31 2.531 1.360 6.734
                      No Doc
                      Limited                     173   88.61  77.77   46.02      39.12     25.71 2.622 1.343 6.851
                     Cash Out                   2,110   93.28  81.94      --      11.29     14.25 2.478 1.336 6.647
                     Purchase                   1,871   91.51  73.16  100.00      72.92     26.62 2.517 1.360 6.796
                  Refi-Rate Term                  226   93.51  79.42      --      12.63     12.58 2.616 1.343 6.652
                    2-4 Family                    300   79.65     --   46.77      35.13     16.92 2.410 1.329 6.577
                       Condo                      270   88.06     --   64.02      48.51     26.09 2.390 1.345 6.729
                       Fixed                      982   94.66  80.97   32.33       9.62      4.37    --    --    --
                        Arm                     3,225   92.21  77.62   44.36      41.99     21.76 2.501 1.347 6.713
                  Back DTI 45-50                1,392   93.55  79.51   46.10      43.94     21.14 2.592 1.353 6.704
                  Back DTI 50-55                  368   89.87  78.71   36.63      31.15     12.53 2.548 1.364 6.635
                   Back DTI > 55                   26   92.97  66.36   43.69      43.36      9.11 2.449 1.265 6.604
                        IO                        531   97.79  75.87   58.50      64.56    100.00 2.547 1.341 6.737
                       Cali                       915   93.29  79.64   52.76      47.41     32.79 2.52  1.32  6.65
                      N Cali                      276   93.69  90.83   57.47      52.71     33.47 2.59  1.40  6.81
                      S Cali                      639   93.12  74.81   50.73      45.12     32.49 2.49  1.29  6.58
                        NY                        139   95.45  53.39   46.87      38.19     17.12 2.07  1.27  6.50
                        FL                        666   89.69  74.06   47.15      32.69     16.12 2.70  1.35  6.79
                      Georgia                      92   90.80  86.24   39.24      41.37     16.79 2.42  1.39  6.87
                       Ohio                        50   84.75  89.71   31.47      30.25      9.90 2.32  1.32  6.74
                     Maryland                     115   95.99  84.06   18.94      26.54     26.95 2.60  1.36  6.55
                    40 yr Loans                 1,070   94.42  77.31   41.00      41.51        -- 2.38  1.38  6.74
            Purchase Loans w/Simul 2nds         1,101   97.50  74.36  100.00     100.00     33.81 2.52  1.38  6.82
      Stated Doc Purchase Loans w/Simul 2nds      687   97.51  74.49  100.00     100.00     31.11 2.55  1.40  6.83
          IO Purchase Loans w/Simul 2nds          298   98.56  73.02  100.00     100.00    100.00 2.55  1.36  6.80
     Stated Doc IO Purchase Loans w/Simul 2nds    179   98.70  75.57  100.00     100.00    100.00 2.65  1.39  6.81
                   FICO Std Dev
                    LTV Std Dev


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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non IO

FULL
OO

Doc Stat = 1   DOC1
Occ Stat = 1



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                    1.81%                  2.09%                  2.77%                   0.21%    0.15%
>= 550 / < 570           0.44%                  0.72%                  1.42%                   0.74%    0.15%
>= 570 / < 590           0.35%                  0.78%                  0.77%                   0.56%    0.83%
>= 590 / < 610           0.67%                  0.41%                  0.98%                   1.33%    1.35%
>= 610 / < 630           0.34%                  0.38%                  0.58%                   1.14%    2.29%
>= 630 / < 650           0.25%                  0.43%                  0.70%                   0.79%    1.37%
>= 650 / < 670           0.25%                  0.11%                  0.18%                   0.75%    0.78%
>= 670 / < 690           0.12%                  0.10%                  0.21%                   0.17%    0.45%
>= 690 / < 710           0.07%                  0.06%                  0.07%                   0.24%    0.30%
>= 710 / < 730           0.05%                  0.00%                  0.05%                   0.00%    0.16%
>= 730                   0.00%                  0.11%                  0.18%                   0.08%    0.07%
                                                                                                                31.36%


NOTFULL
OO

Doc Stat = 0   DOC3
Occ Stat = 1



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                    1.63%                  1.83%                  1.17%                   0.05%    0.06%
>= 550 / < 570           0.56%                  0.60%                  1.13%                   0.18%    0.04%
>= 570 / < 590           0.62%                  0.71%                  1.08%                   0.57%    0.13%
>= 590 / < 610           0.50%                  0.53%                  1.56%                   0.72%    0.57%
>= 610 / < 630           0.41%                  0.76%                  1.39%                   1.04%    2.57%
>= 630 / < 650           0.28%                  0.40%                  1.15%                   0.88%    3.93%
>= 650 / < 670           0.16%                  0.28%                  0.38%                   0.81%    3.77%
>= 670 / < 690           0.09%                  0.11%                  0.42%                   0.49%    2.25%
>= 690 / < 710           0.10%                  0.00%                  0.43%                   0.44%    1.80%
>= 710 / < 730           0.04%                  0.04%                  0.03%                   0.18%    1.15%
>= 730                   0.11%                  0.00%                  0.16%                   0.30%    1.51%
                                                                                                                42.15%


FULL
NOO

Doc Stat = 1   DOC2
Occ Stat = 0



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                    0.04%                  0.06%                  0.04%                   0.00%    0.00%
>= 550 / < 570           0.03%                  0.02%                  0.03%                   0.00%    0.00%
>= 570 / < 590           0.08%                  0.00%                  0.12%                   0.09%    0.00%
>= 590 / < 610           0.13%                  0.00%                  0.07%                   0.03%    0.01%
>= 610 / < 630           0.02%                  0.18%                  0.10%                   0.11%    0.03%
>= 630 / < 650           0.00%                  0.00%                  0.04%                   0.12%    0.00%
>= 650 / < 670           0.00%                  0.00%                  0.10%                   0.12%    0.06%
>= 670 / < 690           0.00%                  0.12%                  0.01%                   0.09%    0.01%
>= 690 / < 710           0.02%                  0.00%                  0.08%                   0.12%    0.00%
>= 710 / < 730           0.00%                  0.02%                  0.00%                   0.08%    0.01%
>= 730                   0.03%                  0.00%                  0.07%                   0.12%    0.00%
                                                                                                                 2.41%


NOTFULL
NOO

Doc Stat = 0
Occ Stat = 0



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                    0.07%                  0.00%                  0.01%                   0.00%    0.00%
>= 550 / < 570           0.00%                  0.00%                  0.04%                   0.00%    0.00%
>= 570 / < 590           0.02%                  0.05%                  0.05%                   0.00%    0.00%
>= 590 / < 610           0.09%                  0.01%                  0.35%                   0.04%    0.00%
>= 610 / < 630           0.05%                  0.05%                  0.16%                   0.18%    0.07%
>= 630 / < 650           0.09%                  0.01%                  0.47%                   0.59%    0.06%
>= 650 / < 670           0.09%                  0.05%                  0.37%                   0.19%    0.04%
>= 670 / < 690           0.10%                  0.04%                  0.13%                   0.26%    0.05%
>= 690 / < 710           0.04%                  0.03%                  0.11%                   0.10%    0.02%
>= 710 / < 730           0.00%                  0.02%                  0.06%                   0.00%    0.09%
>= 730                   0.02%                  0.00%                  0.17%                   0.17%    0.06%
                                                                                                                 4.62%


IO - separate

FULL
OO

Doc Stat = 1
Occ Stat = 1



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                    0.00%                  0.00%                  0.00%                   0.03%    0.00%
>= 550 / < 570
>= 570 / < 590           0.03%                  0.16%                  0.04%                   0.00%    0.03%
>= 590 / < 610           0.01%                  0.12%                  0.21%                   0.09%    0.58%
>= 610 / < 630           0.08%                  0.11%                  0.63%                   0.20%    0.89%
>= 630 / < 650           0.08%                  0.09%                  0.13%                   0.27%    0.71%
>= 650 / < 670           0.00%                  0.04%                  0.12%                   0.14%    0.35%
>= 670 / < 690           0.00%                  0.05%                  0.00%                   0.17%    0.35%
>= 690 / < 710           0.00%                  0.00%                  0.00%                   0.09%    0.27%
>= 710 / < 730           0.00%                  0.02%                  0.00%                   0.07%    0.31%
>= 730                   0.00%                  0.00%                  0.06%                   0.14%    0.19%
                                                                                                                 6.84%


NOTFULL
OO

Doc Stat = 0
Occ Stat = 1



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590           0.00%                  0.00%                  0.04%                   0.00%    0.00%
>= 590 / < 610           0.00%                  0.11%                  0.05%                   0.35%    0.04%
>= 610 / < 630           0.11%                  0.12%                  0.28%                   0.43%    1.06%
>= 630 / < 650           0.13%                  0.23%                  0.28%                   0.28%    0.93%
>= 650 / < 670           0.11%                  0.08%                  0.37%                   0.48%    1.72%
>= 670 / < 690           0.04%                  0.14%                  0.25%                   0.33%    1.25%
>= 690 / < 710           0.01%                  0.00%                  0.10%                   0.09%    0.73%
>= 710 / < 730           0.03%                  0.00%                  0.00%                   0.06%    0.49%
>= 730                   0.00%                  0.00%                  0.03%                   0.13%    1.04%
                                                                                                                11.89%


FULL
NOO

Doc Stat = 1
Occ Stat = 0



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650           0.00%                  0.00%                  0.00%                   0.02%    0.00%
>= 650 / < 670
>= 670 / < 690           0.00%                  0.04%                  0.10%                   0.00%    0.00%
>= 690 / < 710
>= 710 / < 730
>= 730                   0.00%                  0.00%                  0.00%                   0.00%    0.04%
                                                                                                                 0.20%


NOTFULL
NOO

Doc Stat = 0
Occ Stat = 0



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570           0.03%                  0.00%                  0.00%                   0.00%    0.00%
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650
>= 650 / < 670           0.00%                  0.00%                  0.00%                   0.02%    0.02%
>= 670 / < 690           0.00%                  0.00%                  0.00%                   0.02%    0.00%
>= 690 / < 710           0.00%                  0.00%                  0.00%                   0.02%    0.06%
>= 710 / < 730
>= 730                   0.00%                  0.00%                  0.00%                   0.04%    0.00%
                                                                                                                 0.23%


IO - joint

FULL
OO

Doc Stat = 1
Occ Stat = 1



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590           0.00%                  0.03%                  0.00%                   0.00%    0.00%
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650           0.04%                  0.00%                  0.00%                   0.00%    0.00%
>= 650 / < 670           0.00%                  0.00%                  0.01%                   0.00%    0.03%
>= 670 / < 690
>= 690 / < 710           0.00%                  0.07%                  0.00%                   0.00%    0.00%
>= 710 / < 730           0.00%                  0.00%                  0.00%                   0.03%    0.00%
>= 730
                                                                                                                 0.20%


NOTFULL
OO

Doc Stat = 0
Occ Stat = 1



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610           0.00%                  0.00%                  0.00%                   0.00%    0.03%
>= 610 / < 630           0.00%                  0.02%                  0.00%                   0.00%    0.03%
>= 630 / < 650
>= 650 / < 670
>= 670 / < 690
>= 690 / < 710           0.00%                  0.00%                  0.00%                   0.00%    0.02%
>= 710 / < 730
>= 730
                                                                                                                 0.10%


FULL
NOO

Doc Stat = 1
Occ Stat = 0



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650
>= 650 / < 670
>= 670 / < 690
>= 690 / < 710
>= 710 / < 730
>= 730
                                                                                                                 0.00%


NOTFULL
NOO

Doc Stat = 0
Occ Stat = 0



                 less than 70   >= 70 / less than 80   >= 80 / less than 90   >= 90 / less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650
>= 650 / < 670
>= 670 / < 690
>= 690 / < 710
>= 710 / < 730
>= 730
                                                                                                                 0.00%
                                                                                                               ------
Total                                                                                                          100.00% <-- should
                                                                                                               ======  total 100%.


This material was not prepared by the Morgan Stanley research department. Please
 refer to important information and qualifications at the end of this material.

**   INSTRUCTIONS:

1.   DO NOT ADD ANY COLUMNS OR ROWS!!

2.   Enter % of loan pool in each cell.

3.   %'s entered in ALL cells should total 100%.



NON IO

FULL
OO

Doc Stat = 1
Occ Stat = 1



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                     101                    101                    158                      13       14
>= 550 / < 570             24                     31                     62                      43       12
>= 570 / < 590             21                     33                     39                      28       43
>= 590 / < 610             38                     19                     50                      57       87
>= 610 / < 630             20                     12                     25                      50      113
>= 630 / < 650             14                     21                     33                      33       67
>= 650 / < 670              9                      5                      8                      25       36
>= 670 / < 690              5                      4                      9                      10       27
>= 690 / < 710              4                      2                      4                       6       15
>= 710 / < 730              2                     --                      1                      --       10
>= 730                     --                      3                      4                       4        7
                                                                                                               1,562


NOTFULL
OO

Doc Stat = 0
Occ Stat = 1



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                      68                     73                     41                       3        4
>= 550 / < 570             25                     24                     45                      11        4
>= 570 / < 590             23                     29                     41                      20        9
>= 590 / < 610             20                     25                     52                      24       29
>= 610 / < 630             18                     26                     48                      36      141
>= 630 / < 650             13                     15                     37                      42      211
>= 650 / < 670              8                      9                     16                      33      175
>= 670 / < 690              5                      5                     13                      23      101
>= 690 / < 710              3                     --                     13                      10       70
>= 710 / < 730              2                      1                      1                       6       52
>= 730                      3                     --                      3                       9       64
                                                                                                               1,782


FULL
NOO

Doc Stat = 1
Occ Stat = 0



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                       3                      5                      4                      --       --
>= 550 / < 570              2                      2                      2                      --       --
>= 570 / < 590              4                     --                      6                       5       --
>= 590 / < 610              4                     --                      4                       2        2
>= 610 / < 630              1                      5                      6                       8        2
>= 630 / < 650              1                     --                      3                       6       --
>= 650 / < 670             --                     --                      5                       9        1
>= 670 / < 690             --                      2                      1                       5        1
>= 690 / < 710              1                     --                      2                       3       --
>= 710 / < 730             --                      1                     --                       5        1
>= 730                      2                     --                      5                       6       --
                                                                                                               127


NOTFULL
NOO

Doc Stat = 0
Occ Stat = 0



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                       3                     --                      1                      --       --
>= 550 / < 570             --                     --                      1                      --       --
>= 570 / < 590              1                      4                      3                      --       --
>= 590 / < 610              4                      1                     11                       2       --
>= 610 / < 630              4                      3                      9                       7        2
>= 630 / < 650              5                      1                     17                      23        2
>= 650 / < 670              2                      3                     14                      12        2
>= 670 / < 690              5                      4                      5                      11        2
>= 690 / < 710              1                      2                      6                       4        1
>= 710 / < 730             --                      1                      3                      --        3
>= 730                      1                     --                      8                       9        2
                                                                                                               205


IO - SEPARATE

FULL
OO

Doc Stat = 1
Occ Stat = 1



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550                      --                     --                     --                       1       --
>= 550 / < 570
>= 570 / < 590              1                      3                      1                      --        1
>= 590 / < 610              1                      3                      5                       3       18
>= 610 / < 630              3                      2                     16                       6       27
>= 630 / < 650              3                      3                      4                       7       23
>= 650 / < 670             --                      1                      3                       4       12
>= 670 / < 690             --                      1                     --                       3       11
>= 690 / < 710             --                     --                     --                       2        9
>= 710 / < 730             --                      1                     --                       1        7
>= 730                     --                     --                      1                       2        7
                                                                                                               196


NOTFULL
OO

Doc Stat = 0
Occ Stat = 1



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590             --                     --                      1                      --       --
>= 590 / < 610             --                      3                      2                       7        1
>= 610 / < 630              4                      3                      9                       9       25
>= 630 / < 650              4                      4                      9                       5       29
>= 650 / < 670              3                      3                      9                      13       44
>= 670 / < 690              1                      3                      6                       7       31
>= 690 / < 710              1                     --                      3                       3       21
>= 710 / < 730              1                     --                     --                       2       16
>= 730                     --                     --                      1                       3       24
                                                                                                               310


FULL
NOO

Doc Stat = 1
Occ Stat = 0



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650             --                     --                     --                       1       --
>= 650 / < 670
>= 670 / < 690             --                      1                      2                      --       --
>= 690 / < 710
>= 710 / < 730
>= 730                     --                     --                     --                      --        2
                                                                                                               6


NOTFULL
NOO

Doc Stat = 0
Occ Stat = 0



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570              1                     --                     --                      --       --
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650
>= 650 / < 670             --                     --                     --                       1        1
>= 670 / < 690             --                     --                     --                       2       --
>= 690 / < 710             --                     --                     --                       1        2
>= 710 / < 730
>= 730                     --                     --                     --                       1       --
                                                                                                               9


IO - JOINT

FULL
OO

Doc Stat = 1
Occ Stat = 1



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590             --                      1                     --                      --       --
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650              1                     --                     --                      --       --
>= 650 / < 670             --                     --                      1                      --        1
>= 670 / < 690
>= 690 / < 710             --                      1                     --                      --       --
>= 710 / < 730             --                     --                     --                       1       --
>= 730
                                                                                                               6


NOTFULL
OO

Doc Stat = 0
Occ Stat = 1



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610             --                     --                     --                      --        1
>= 610 / < 630             --                      1                     --                      --        1
>= 630 / < 650
>= 650 / < 670
>= 670 / < 690
>= 690 / < 710             --                     --                     --                      --        1
>= 710 / < 730
>= 730
                                                                                                               4


FULL
NOO

Doc Stat = 1
Occ Stat = 0



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650
>= 650 / < 670
>= 670 / < 690
>= 690 / < 710
>= 710 / < 730
>= 730
                                                                                                               0


NOTFULL
NOO

Doc Stat = 0
Occ Stat = 0



                 Less than 70   >= 70 / Less than 80   >= 80 / Less than 90   >= 90 / Less than 100   >= 100
                 ------------   --------------------   --------------------   ---------------------   ------

< 550
>= 550 / < 570
>= 570 / < 590
>= 590 / < 610
>= 610 / < 630
>= 630 / < 650
>= 650 / < 670
>= 670 / < 690
>= 690 / < 710
>= 710 / < 730
>= 730
                                                                                                                   0
                                                                                                               -----
Total                                                                                                          4,207 <-- should
                                                                                                               ===== equal total
                                                                                                                     number of loans
                                                                                                                     in pool.


This material was not prepared by the Morgan Stanley research department. Please
 refer to important information and qualifications at the end of this material.

**   INSTRUCTIONS:

1.   DO NOT ADD ANY COLUMNS OR ROWS!!

2.   Enter Loan # into each column

3.   Loan #'s entered in to all cells should match deal loan # total.



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DYNAMIC CREDIT COLLATERAL ANALYSIS
IXIS 2006-HE3
       ***USE ONLY THE COLLATERAL SUPPORTING THE TRANCHE WE ARE BUYING***
 *** ROW D USES TOTAL COLLATERAL SUPPORTING TRANCHE AS A DENOMINATOR, ALL OTHER
                     ROWS USE ROW TOTALS AS A DENOMINATOR***

1 FICO AND LTV



                                Row - %    Wtd Avg
                                 Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg
FICO Low     FICO High   LTV  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC   % SFD  % PUD
--------     ---------  ----  ----------  ---------  -------  -------  -------  -------  -----  -----

500                524  > 65%       4.21%  $167,413      511    43.17    77.04    9.624  80.98   9.76
525                574  > 65%      11.68%  $178,255      551    42.38    79.63    9.158  86.43   4.54
575                599  > 65%       9.35%  $187,194      588    42.78    82.62    8.685  86.01   5.28
600                619  > 70%      11.82%  $202,216      609    42.68    84.25    8.402  82.73   6.18
620                639  > 70%      15.39%  $200,487      629    43.22    83.44    8.401  77.42   6.77
640                659  > 70%      12.83%  $207,676      649    43.53    83.41    8.292  74.43   6.66
660                679  > 80%       2.87%  $163,239      669    42.39    91.13    8.862  66.88   9.38
680                699  > 80%       1.86%  $160,256      689    43.11    91.29    8.892  75.70   8.23
700                724  > 80%       1.23%  $171,759      709    42.91    93.60    8.627  69.59   4.98
725                749  > 80%       0.77%  $153,466      736    40.82    93.07    8.862  60.34   6.75
750 max                 > 90%       0.23%  $106,666      769    41.56    98.07   10.161  93.23   0.00



             % Owner                                                                               % With
FICO Low       Occ    % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only  Seconds
--------     -------  ----------  -----------  ----------  ---------  --------  ----  ----------  -------

500            97.73        1.59         5.01       67.98       5.39      0.00  0.00        0.61     2.66
525            98.29        1.20         5.50       57.23       4.46      0.00  0.00        0.00     5.36
575            94.41        4.50         5.40       54.58       4.01      0.00  0.00        4.97    14.28
600            94.47        4.40         6.99       55.93       7.06      0.00  0.00       26.10    36.65
620            94.03        4.72         8.20       37.08       5.17      0.00  0.00       22.07    50.39
640            89.85        7.46         9.80       27.99       3.25      0.00  0.00       27.49    56.05
660            75.63       22.09        14.26       37.48       4.18      0.00  0.00       20.67     3.49
680            79.78       19.85        10.20       35.28       2.63      0.00  0.00       23.24     7.02
700            73.07       22.38        19.85       46.91      10.91      0.00  0.00       13.34     2.09
725            57.04       39.86        23.09       36.78       0.81      0.00  0.00       15.10     3.27
750 max        63.89       15.94         6.77        0.00       4.05      0.00  0.00       17.81     0.00


2. LTV AND DTI



                               Row - %    Wtd Avg
                                Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg
LTV Low      LTV High   DTI  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC   % SFD  % PUD
--------     --------  ----  ----------  ---------  -------  -------  -------  -------  -----  -----

 70.00%         79.99% > 50%       1.94%  $224,702      595    52.83    75.05    8.271  72.72   4.78
 80.00%         84.99% > 50%       3.83%  $234,871      628    52.78    80.20    8.074  74.31   7.45
 85.00%         89.99% > 50%       0.97%  $237,100      597    52.15    86.49    8.734  80.82   2.82
 90.00%         94.99% > 50%       1.09%  $227,243      626    53.26    90.32    8.275  88.37   2.05
 95.00%         99.99% > 50%       0.46%  $181,984      624    52.54    95.19    9.561  91.03   0.00
100.00%        109.99% > 50%       0.28%  $ 67,139      651    52.30   100.00   11.071  82.28   3.49
110.00% max            > 50%



             % Owner                                                                               % With
LTV Low        Occ    % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only  Seconds
--------     -------  ----------  -----------  ----------  ---------  --------  ----  ----------  -------

 70.00%        89.58        8.15        16.31       65.23       2.31      0.00  0.00       12.90    10.27
 80.00%        95.04        1.88        13.82       52.19       2.32      0.00  0.00       17.73    70.65
 85.00%        86.14       13.86        13.31       70.83       5.79      0.00  0.00       13.09    10.51
 90.00%        93.18        6.82         3.40       75.83       4.45      0.00  0.00        8.79     7.91
 95.00%        50.78       39.04         0.00       69.77       5.68      0.00  0.00        5.18    14.41
100.00%       100.00        0.00        10.20       53.16       8.20      0.00  0.00        0.00     0.00
110.00% max


3. DTI AND FICO



                                 Row - %    Wtd Avg
                                 Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg
DTI Low      DTI High   FICO  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC   % SFD  % PUD
-------      --------  -----  ----------  ---------  -------  -------  -------  -------  -----  -----

20.00%          29.99% < 550        0.92%  $127,888      524    25.29    72.49    9.504  85.44  10.75
30.00%          34.99% < 600        2.50%  $155,688      558    32.79    73.72    9.149  85.60   5.83
35.00%          39.99% < 675       10.41%  $180,407      604    37.71    79.45    8.475  81.34   7.45
40.00%          44.99% < 675       20.99%  $200,034      608    42.74    79.51    8.532  79.00   6.71
45.00%          49.99% < 700       31.85%  $209,411      617    47.70    81.06    8.548  80.19   5.79
50.00%          54.99% < 750        8.82%  $202,387      608    52.22    79.51    8.486  78.66   4.44
   56% max             < 750        0.94%  $280,787      619    57.49    79.29    7.994  65.05   9.66



             % Owner                                                                               % With
DTI Low        Occ    % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only  Seconds
-------      -------  ----------  -----------  ----------  ---------  --------  ----  ----------  -------

20.00%        100.00        0.00         1.40       71.36       6.82      0.00  0.00        2.81     3.43
30.00%         95.58        4.42         2.18       60.96       6.07      0.00  0.00        4.38     7.90
35.00%         93.07        5.24         4.81       51.42       4.28      0.00  0.00       17.77    25.46
40.00%         96.02        3.65         8.71       36.97       3.62      0.00  0.00       17.71    34.31
45.00%         93.85        4.34         8.01       37.55       4.14      0.00  0.00       19.58    41.24
50.00%         89.78        7.60        12.83       61.09       3.28      0.00  0.00       12.21    30.95
   56% max     93.72        4.81        12.65       67.22       1.37      0.00  0.00       13.02    43.64


4. HIGH LTV LOANS



                       Row - %    Wtd Avg
                        Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                % Owner
LTV            LTV   Collateral  Bal./Loan    FICO     DTI      LTV      GWAC   % SFD  % PUD    Occ    % Investor  % 2+ family
---          ------  ----------  ---------  -------  -------  -------  -------  -----  -----  -------  ----------  -----------

 75.00%       79.99%       9.52%  $211,482      602    43.03    77.25    8.320  79.60   5.59    93.64        4.34         9.47
 80.00%       80.00%      43.05%  $234,187      646    43.37    80.00    8.083  75.44   7.77    96.07        2.12         9.07
 80.01%       89.99%      13.30%  $204,483      611    42.33    85.26    8.627  82.69   3.09    87.30       11.45        10.41
 90.00%       94.99%       9.91%  $217,774      626    43.13    90.31    8.732  78.46   7.65    86.22       13.19         7.18
 95.00%       99.99%       4.17%  $176,874      646    42.42    95.35    9.131  82.70   5.85    75.71       18.87         6.45
100.00%      109.99%       4.18%  $ 74,560      653    43.52   100.00   11.020  80.35   4.74    99.04        0.00         7.82
110.00% max




LTV          % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA  % AZ   % FL   2/28   3/27  5/25
---          ----------  ---------  --------  ----  ----------  -----  ----  -----  -----  -----  ----

 75.00%           42.46       4.90      0.00  0.00       16.25  29.22  5.08  16.45  62.35  23.61  1.79
 80.00%           33.59       4.16      0.00  0.00       28.17  37.83  3.50  12.30  77.93  16.33  0.24
 80.01%           48.02       5.50      0.00  0.00       15.99  26.64  3.11  11.70  62.55  22.03  0.69
 90.00%           47.33       4.27      0.00  0.00       17.16  29.33  4.25  15.78  74.29  15.58  0.26
 95.00%           59.26       3.97      0.00  0.00       12.69  22.21  2.22  16.11  75.63  10.40  0.00
100.00%           33.56       6.79      0.00  0.00       0.95   43.34  1.74  15.22  10.00   9.03  0.00
110.00% max


5. IO LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ    % Investor  % 2+ family
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  ----------  -----------

500                524        0.03%  $216,000      519    24.25    90.00    7.500  100.00   0.00   100.00        0.00         0.00
525                574        0.03%  $249,325      553    32.85    51.55    9.750  100.00   0.00     0.00      100.00         0.00
575                599        0.49%  $293,211      586    38.86    78.26    7.251   85.48   7.21   100.00        0.00         0.00
600                619        3.26%  $293,025      610    42.90    82.06    7.844   81.17   9.32   100.00        0.00         5.67
620                639        3.67%  $312,642      629    43.16    79.67    7.860   82.79   4.17   100.00        0.00         6.43
640                659        3.73%  $304,975      650    43.88    79.91    7.786   69.68  10.65    99.40        0.00         6.81
660                679        2.80%  $303,920      670    43.92    80.81    7.740   71.38   7.24    94.42        3.92        11.25
680                699        2.19%  $320,825      688    43.33    80.82    7.739   73.17   9.20    96.63        3.37         7.38
700                724        1.41%  $293,924      711    44.39    80.60    7.630   77.53  12.15    95.63        0.00         3.37
725                749        0.82%  $284,989      735    42.67    82.33    7.500   65.90   2.90    98.07        0.00        19.23
750 max                       1.04%  $360,603      772    42.54    81.07    7.762   74.58   0.00    93.28        0.00        21.77




FICO Low     % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA    % AZ   % FL  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  ---------  --------  ----  ----------  ------  -----  -----  -------  -------  -------  --------

500              100.00       0.00      0.00  0.00      100.00    0.00   0.00   0.00     0.00     0.00   100.00      0.00
525                0.00       0.00      0.00  0.00      100.00  100.00   0.00   0.00     0.00     0.00   100.00      0.00
575               88.32       0.00      0.00  0.00      100.00   33.92  10.82   6.82     5.38     0.00    94.62      0.00
600               58.51       8.99      0.00  0.00      100.00   51.73   8.43  11.58     0.00     1.51    98.49      0.00
620               43.23       6.93      0.00  0.00      100.00   53.61   4.46  10.91     0.69     0.00    97.72      1.59
640               27.37       3.44      0.00  0.00      100.00   58.55   4.56   8.89     0.00     0.00    98.08      1.92
660               24.30       8.45      0.00  0.00      100.00   56.66   3.38  16.52     0.00     0.97    99.03      0.00
680               30.13       5.13      0.00  0.00      100.00   53.13   4.59  15.34     0.00     0.00   100.00      0.00
700               31.32       1.99      0.00  0.00      100.00   58.25   1.33   8.32     0.00     0.00   100.00      0.00
725               43.79       0.00      0.00  0.00      100.00   36.53   2.63  18.59     0.00     0.00   100.00      0.00
750 max           12.74       5.32      0.00  0.00      100.00   71.27   2.08   8.63     0.00     0.00   100.00      0.00


6. INVESTOR LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ    % Investor  % 2+ family
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  ----------  -----------

500                524        0.09%  $121,505      518    46.64    68.40   10.552   62.55  14.18     0.00      100.00         0.00
525                574        0.27%  $117,088      556    41.20    64.96    9.703   51.08  10.20     0.00      100.00        38.72
575                599        0.50%  $174,622      589    35.12    76.95    9.139   52.46   0.00     0.00      100.00        35.73
600                619        0.68%  $167,108      609    42.48    77.83    9.272   75.13   0.00     0.00      100.00        16.59
620                639        0.81%  $150,504      630    42.63    84.98    9.437   60.88   5.46     0.00      100.00        24.41
640                659        1.00%  $198,983      648    41.21    84.97    9.054   47.68   0.00     0.00      100.00        49.31
660                679        0.93%  $154,861      670    39.10    82.51    8.739   59.27   4.69     0.00      100.00        26.75
680                699        0.73%  $226,219      689    37.15    81.30    8.492   49.79   2.86     0.00      100.00        44.93
700                724        0.34%  $190,487      711    37.80    89.64    8.891   64.03   0.00     0.00      100.00        28.01
725                749        0.41%  $170,738      738    37.49    85.34    8.656   73.66   0.00     0.00      100.00        19.30
750 max                       0.19%  $131,164      759    42.21    88.11    8.792  100.00   0.00     0.00      100.00         0.00




FICO Low     % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA    % AZ   % FL  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  ---------  --------  ----  ----------  ------  -----  -----  -------  -------  -------  --------

500               73.60       0.00      0.00  0.00        0.00   49.67   0.00   0.00     0.00     0.00     0.00      0.00
525               60.90       0.00      0.00  0.00       11.21   17.49  10.20   3.36     0.00     0.00    11.21      0.00
575               60.29      12.60      0.00  0.00        0.00   43.94   0.00  19.05     0.00     0.00     0.00      0.00
600               38.57       7.33      0.00  0.00        0.00   31.67   0.00  14.30     0.00     0.00     0.00      0.00
620               16.78       0.00      0.00  0.00        0.00   25.82   0.00  19.05     0.00     0.00     0.00      0.00
640               18.67      14.75      0.00  0.00        0.00   31.25   0.00  19.02     0.00     0.00     0.00      0.00
660               31.87       8.71      0.00  0.00       11.86   40.54   2.11  29.49     0.00     0.00    11.86      0.00
680               29.81      15.29      0.00  0.00       10.08   47.79   0.00   6.83     0.00     0.00    10.08      0.00
700               72.18      10.99      0.00  0.00        0.00   32.91   6.80   0.00     0.00     0.00     0.00      0.00
725               35.21       0.00      0.00  0.00        0.00    3.95   0.00  19.78     0.00     0.00     0.00      0.00
750 max           36.45       0.00      0.00  0.00        0.00   20.29   0.00  33.95     0.00     0.00     0.00      0.00


7. LIMITED AND STATED DOC



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------

500                524        1.77%  $196,493      512    43.18    70.34    9.712   78.84  12.24    98.69
525                574        6.32%  $208,712      551    41.79    73.57    9.204   79.46   7.79    97.76
575                599        4.64%  $203,694      588    43.14    79.80    9.009   84.61   2.70    93.42
600                619        6.09%  $234,475      609    42.59    80.84    8.755   81.78   6.90    92.33
620                639       10.38%  $193,881      629    43.63    81.42    8.657   79.51   4.23    92.85
640                659        9.64%  $208,963      649    43.80    82.15    8.532   71.50   6.62    88.83
660                679        7.26%  $214,314      669    43.81    81.32    8.281   77.46   4.85    89.82
680                699        5.11%  $233,279      689    42.99    81.25    8.214   66.45   9.24    88.63
700                724        3.44%  $233,622      710    42.44    81.51    8.071   78.59   4.88    93.60
725                749        2.04%  $213,027      735    43.75    82.79    8.237   64.32  13.50    82.19
750 max                       2.29%  $258,443      769    43.76    81.52    8.010   71.19   2.50    91.69




FICO Low     % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA    % AZ   % FL
--------     ----------  -----------  ----------  ---------  --------  ----  ----------  ------  -----  -----

500                1.31         6.37        0.00      13.73      0.00  0.00        0.00   35.11   4.96  19.85
525                1.65         9.91        0.00       9.58      0.00  0.00        0.47   21.61   7.13  17.66
575                4.30         8.07        0.00       8.33      0.00  0.00        1.24   27.58   4.06  12.93
600                6.86         8.29        0.00      14.68      0.00  0.00       22.22   37.88   3.94  20.02
620                6.50         9.56        0.00       7.86      0.00  0.00       20.07   37.69   3.30  16.88
640                8.45        12.76        0.00       4.33      0.00  0.00       28.08   43.23   4.20  12.53
660                8.70         9.38        0.00       6.68      0.00  0.00       29.21   46.86   4.37  10.99
680               10.04        14.43        0.00       4.15      0.00  0.00       29.93   43.57   1.35  15.31
700                2.77        11.68        0.00       5.22      0.00  0.00       28.10   39.50   3.89  15.64
725               12.98        15.36        0.00       0.30      0.00  0.00       22.56   33.63   0.00  14.49
750 max            5.23        17.78        0.00       2.81      0.00  0.00       39.49   54.93   3.98   9.61


8. NINA,NO DOC & NO RATIO LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ    % Investor  % 2+ family
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  ----------  -----------

500                524
525                574
575                599
600                619
620                639
640                659
660                679
680                699
700                724
725                749
750 max




FICO Low     % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA    % AZ   % FL  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  ---------  --------  ----  ----------  ------  -----  -----  -------  -------  -------  --------

500
525
575
600
620
640
660
680
700
725
750 max


9. 2+ FAMILY LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ    % Investor  % 2+ family
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  ----------  -----------

500                524        0.28%  $196,535      513    47.41    67.30    9.661    0.00   0.00   100.00        0.00       100.00
525                574        0.84%  $232,393      549    42.14    70.91    9.202    0.00   0.00    87.64       12.36       100.00
575                599        0.75%  $242,221      588    41.04    70.20    8.592    0.00   0.00    76.22       23.78       100.00
600                619        0.93%  $277,141      608    42.79    79.76    8.588    0.00   0.00    87.85       12.15       100.00
620                639        1.43%  $271,443      628    43.88    80.21    8.650    0.00   0.00    86.16       13.84       100.00
640                659        1.43%  $225,458      648    43.81    80.42    8.939    0.00   0.00    65.51       34.49       100.00
660                679        1.06%  $252,255      670    42.34    81.71    8.360    0.00   0.00    70.48       23.46       100.00
680                699        1.00%  $279,030      689    42.23    77.74    7.864    0.00   0.00    67.22       32.78       100.00
700                724        0.61%  $266,600      707    43.13    82.34    8.017    0.00   0.00    84.20       15.80       100.00
725                749        0.53%  $318,556      738    43.69    82.99    7.931    0.00   0.00    85.22       14.78       100.00
750 max                       0.49%  $450,081      767    41.43    79.10    7.449    0.00   0.00   100.00        0.00       100.00




FICO Low     % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA    % AZ   % FL  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  ---------  --------  ----  ----------  ------  -----  -----  -------  -------  -------  --------

500               60.19       0.00      0.00  0.00        0.00   20.32   0.00   0.00     0.00     0.00     0.00      0.00
525               24.94       0.00      0.00  0.00        0.00   28.09   0.00   2.67     0.00     0.00     0.00      0.00
575               50.38       0.00      0.00  0.00        0.00   17.84   0.00   6.56     0.00     0.00     0.00      0.00
600               45.65       5.78      0.00  0.00       19.90   22.26   0.00   0.48     0.00     0.00    19.90      0.00
620               30.60       0.00      0.00  0.00       16.49   33.67   0.00   5.90     0.00     0.00    16.49      0.00
640               14.08       3.17      0.00  0.00       17.72   26.10   0.00  11.79     0.00     0.00    17.72      0.00
660               35.56       1.49      0.00  0.00       29.82   31.77   0.00  13.36     0.00     0.00    29.82      0.00
680               26.43       6.69      0.00  0.00       16.11   30.24   0.00   6.94     0.00     0.00    16.11      0.00
700               33.75       6.20      0.00  0.00        7.82   26.86   0.00   1.18     0.00     0.00     7.82      0.00
725               41.31       0.00      0.00  0.00       29.49    0.00   0.00   9.96     0.00     0.00    29.49      0.00
750 max           16.07      11.36      0.00  0.00       46.51   40.55   0.00   0.00     0.00     0.00    46.51      0.00


10. CONDO LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----

500                524        0.24%  $144,155      512    41.57    70.17    9.698    0.00   0.00
525                574        0.50%  $188,960      549    42.81    75.59    9.225    0.00   0.00
575                599        0.32%  $155,887      590    39.62    79.42    8.937    0.00   0.00
600                619        0.57%  $148,266      610    43.64    81.89    8.785    0.00   0.00
620                639        1.26%  $194,594      628    41.88    81.14    8.652    0.00   0.00
640                659        1.19%  $248,222      649    44.58    82.29    8.248    0.00   0.00
660                679        0.83%  $204,269      668    42.42    83.31    8.200    0.00   0.00
680                699        0.63%  $217,436      691    40.85    80.97    8.253    0.00   0.00
700                724        0.28%  $154,031      710    40.59    84.80    8.139    0.00   0.00
725                749        0.23%  $146,974      734    42.96    83.72    8.031    0.00   0.00
750 max                       0.20%  $326,321      764    44.46    80.00    7.931    0.00   0.00



             Mid Rise &  % Owner
FICO Low      High Rise    Occ    % Investor  % 2+ family   % Full Doc  % Ltd Doc  % No Doc  % MI
--------     ----------  -------  ----------  -----------   ----------  ---------  --------  ----

500                        91.59        8.41         0.00        81.37       0.00      0.00  0.00
525                        96.34        0.00         0.00        63.93       0.00      0.00  0.00
575                        81.33       18.67         0.00        32.51       1.21      0.00  0.00
600                        90.08        9.92         0.00        67.44       2.65      0.00  0.00
620                        85.95        5.96         0.00        44.75       2.38      0.00  0.00
640                        83.72        2.53         0.00        26.05       2.56      0.00  0.00
660                        87.34       10.36         0.00        27.42       4.49      0.00  0.00
680                        97.17        2.83         0.00        19.09       0.00      0.00  0.00
700                        75.56        9.84         0.00        39.73      26.91      0.00  0.00
725                        87.43       12.57         0.00        39.15       0.00      0.00  0.00
750 max                   100.00        0.00         0.00         0.00       0.00      0.00  0.00




FICO Low     % Int Only   % CA    % AZ   % FL  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  ------  -----  -----  -------  -------  -------  --------

500                0.00   28.21   0.00  20.80     0.00     0.00     0.00      0.00
525                0.00   20.00   2.31  23.28     0.00     0.00     0.00      0.00
575               11.32   35.57   0.00  28.91     0.00     0.00    11.32      0.00
600               22.10   29.82   0.00  17.99     0.00     0.00    22.10      0.00  CO
620               19.26   43.19   1.16  13.24     0.00     0.00    19.26      0.00
640               40.30   55.85   0.00  17.35     0.00     0.00    40.30      0.00
660               34.16   47.63   1.23  27.26     0.00     0.00    34.16      0.00
680               35.94   51.13   0.00  23.50     0.00     0.00    35.94      0.00
700               35.38   35.30   0.00  15.99     0.00     0.00    35.38      0.00
725               42.85   34.06   0.00  44.19     0.00     0.00    42.85      0.00
750 max           19.37   49.98   0.00  19.37     0.00     0.00    19.37      0.00


11. SECOND LIEN LOANS (IF ANY)



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------

500                524        0.01%  $ 35,761      500    43.98   100.00   11.118  100.00   0.00   100.00
525                574        0.01%  $117,814      571    29.78   100.00   12.500  100.00   0.00   100.00
575                599        0.08%  $ 46,600      591    43.12   100.00   12.483   55.30  32.83   100.00
600                619        0.36%  $ 59,594      611    43.97    99.75   11.700   81.32   1.46   100.00
620                639        0.95%  $ 59,791      629    43.52    99.89   11.928   79.90   5.54    99.43
640                659        0.77%  $ 64,506      650    44.11    99.71   11.684   78.70   2.74   100.00
660                679        0.45%  $ 68,709      669    44.74    99.84   11.262   78.64   3.61    99.10
680                699        0.36%  $ 64,325      688    42.60    99.81   10.967   76.30  11.05    98.13
700                724        0.22%  $ 68,751      713    42.87    99.89   10.624   59.74   8.37   100.00
725                749        0.10%  $ 54,562      734    43.54   100.00   10.777   63.47   0.00   100.00
750 max                       0.17%  $ 95,062      780    44.58    93.53   10.288   90.89   0.00    96.82




FICO Low     % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA    % AZ   % FL  % NV
--------     ----------  -----------  ----------  ---------  --------  ----  ----------  ------  -----  -----  ----

500                0.00         0.00       42.73       0.00      0.00  0.00        0.00    0.00   0.00  57.27  0.00
525                0.00         0.00      100.00       0.00      0.00  0.00        0.00  100.00   0.00   0.00  0.00
575                0.00         0.00       70.71      29.29      0.00  0.00        0.00   27.70   0.00  37.65  0.00
600                0.00         3.71       56.75      16.11      0.00  0.00        0.00   51.37   1.29   9.06  3.45
620                0.00         7.05       17.10       5.90      0.00  0.00        0.00   47.58   2.66  15.14  2.29
640                0.00        12.19        8.99       3.34      0.00  0.00        0.00   56.68   2.53  13.06  2.52
660                0.90        12.81       14.08      10.11      0.00  0.00        0.00   52.54   4.02  15.92  2.49
680                0.00         6.01       27.63       1.19      0.00  0.00        0.00   58.81   1.37  15.29  4.94
700                0.00        23.44       32.57       2.02      0.00  0.00        0.00   34.44   0.00  34.65  3.60
725                0.00        12.20       11.96       6.34      0.00  0.00        0.00   33.15   0.00  35.07  9.10
750 max            0.00         9.11       20.92       5.45      0.00  0.00        0.00   74.97   0.00   3.21  7.73



12. CALIFORNIA LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                          % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD  % Condo    Occ    % Investor
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  -------  ----------

500                524        1.24%  $265,308      513    43.73    67.26    9.172   82.59   7.28     5.50    96.50        3.50
525                574        2.41%  $275,555      551    43.30    72.62    8.569   82.81   3.32     4.13    98.07        1.93
575                599        2.32%  $334,327      589    42.19    79.69    8.311   88.91   0.44     4.86    90.50        9.50
600                619        4.09%  $307,727      610    42.41    80.81    8.139   88.68   2.12     4.14    94.73        5.27
620                639        5.90%  $280,097      628    44.15    81.70    8.198   77.96   4.68     9.21    94.64        3.55
640                659        5.36%  $283,326      650    43.39    81.37    8.091   74.34   6.31    12.39    94.17        5.83
660                679        3.98%  $289,138      669    43.73    81.26    8.051   77.02   4.60     9.95    89.50        9.44
680                699        3.05%  $322,612      688    43.43    81.26    7.937   73.51   6.08    10.47    88.55       11.45
700                724        1.96%  $333,297      711    43.76    83.40    7.894   79.84   6.84     4.99    91.25        5.76
725                749        0.72%  $300,147      735    46.32    80.62    7.981   76.31  12.85    10.84    97.75        2.25
750 max                       1.43%  $321,778      768    42.85    80.77    7.881   79.35   0.00     6.85    95.30        2.68




FICO Low     % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only   % CA   2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     -----------  ----------  ---------  --------  ----  ----------  ------  -------  -------  -------  --------

500                 4.63       49.99       5.35      0.00  0.00        0.00  100.00     0.00     0.00     0.00      0.00
525                 9.73       43.28       5.25      0.00  0.00        1.24  100.00     0.00     0.00     1.24      0.00
575                 5.79       44.96       6.42      0.00  0.00        7.18  100.00     0.00     0.00     7.18      0.00
600                 5.06       43.58      10.56      0.00  0.00       41.27  100.00     0.00     0.63    40.64      0.00
620                 8.16       33.74       5.31      0.00  0.00       33.32  100.00     0.00     0.00    33.32      0.00
640                 6.97       22.31       2.25      0.00  0.00       40.69  100.00     0.00     0.00    39.97      0.71
660                 8.43       14.53       7.05      0.00  0.00       39.88  100.00     0.00     0.00    39.88      0.00
680                 9.93       27.01       3.60      0.00  0.00       38.12  100.00     0.00     0.00    38.12      0.00  CA
700                 8.33       30.50       4.65      0.00  0.00       41.93  100.00     0.00     0.00    41.93      0.00
725                 0.00        4.53       0.00      0.00  0.00       41.63  100.00     0.00     0.00    41.63      0.00
750 max            13.80       11.77       4.52      0.00  0.00       51.80  100.00     0.00     0.00    51.80      0.00


13. FLORIDA LOANS



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----

500                524        0.88%  $162,409      510    44.42    70.88    9.433   80.68  13.57
525                574        2.18%  $170,182      549    44.12    71.90    8.862   85.72   7.94
575                599        1.58%  $182,666      587    43.31    78.93    8.518   79.00  12.03
600                619        1.94%  $186,637      609    43.25    79.70    8.478   80.46  14.06
620                639        2.32%  $184,703      629    41.54    82.41    8.649   76.69  12.50
640                659        1.85%  $193,236      649    42.47    81.06    8.357   62.98  16.77
660                679        1.27%  $173,982      670    43.40    83.78    8.082   63.23   7.82
680                699        0.91%  $181,075      688    42.88    83.04    8.190   59.09  17.15
700                724        0.63%  $165,118      712    42.43    85.53    8.580   83.43   8.45
725                749        0.42%  $154,136      737    38.27    84.01    8.232   42.70  20.95
750 max                       0.28%  $195,842      771    43.82    83.51    7.957   66.22  20.33


                                         %
                         %Condo     Mid Rise & HI  % Owner
FICO Low     % Condo  AND INVESTOR    Rise Condo     Occ    % Investor  % 2+ family  % Full Doc  % Ltd Doc
--------     -------  ------------  -------------  -------  ----------  -----------  ----------  ---------

500             5.74          0.00            N/A    96.72        0.00         0.00       59.97       3.31
525             5.31          0.00            N/A    97.02        0.41         1.02       48.79       2.44
575             5.83          1.34            N/A    90.90        6.07         3.14       61.95       0.92
600             5.26          0.00            N/A    91.54        5.00         0.23       37.25       5.20
620             7.17          1.44            N/A    92.18        6.65         3.64       24.58       5.82
640            11.14          0.00            N/A    84.53       10.28         9.11       34.77       2.37
660            17.84          2.98            N/A    78.48       21.52        11.12       37.19       1.49
680            16.12          1.94            N/A    94.51        5.49         7.64       14.09       0.47
700             6.99          0.00            N/A    89.49        0.00         1.13       14.93       0.00
725            23.82          0.00            N/A    70.80       19.05        12.53       30.36       1.46
750 max        13.45          0.00            N/A    68.65       22.74         0.00       21.81       0.00




FICO Low     % MI  % Int Only   % FL   2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----  ----------  ------  -------  -------  -------  --------

500          0.00        0.00  100.00     0.00     0.00     0.00      0.00
525          0.00        0.00  100.00     0.00     0.00     0.00      0.00
575          0.00        2.13  100.00     0.00     0.00     2.13      0.00
600          0.00       19.44  100.00     0.00     1.20    18.23      0.00
620          0.00       17.23  100.00     0.00     0.00    16.42      0.81
640          0.00       17.89  100.00     0.00     0.00    16.68      1.21
660          0.00       36.42  100.00     0.00     2.15    34.27      0.00
680          0.00       36.88  100.00     0.00     0.00    36.88      0.00
700          0.00       18.51  100.00     0.00     0.00    18.51      0.00
725          0.00       35.87  100.00     0.00     0.00    35.87      0.00
750 max      0.00       31.76  100.00     0.00     0.00    31.76      0.00   FL


14. LARGEST STATE CONCENTRATION (AFTER CALIFORNIA & FLORIDA)



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                          % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD  % Condo    Occ
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  -------

500                524        0.32%  $176,283      512    46.70    74.05    9.462   75.50   0.00     3.90   100.00
525                574        1.23%  $179,854      556    42.96    80.90    9.242   86.79   0.00     4.20    95.27
575                599        0.70%  $166,433      586    41.50    81.28    8.884   68.04   4.03     7.12    92.55
600                619        0.92%  $171,507      609    43.61    83.83    8.774   77.65   0.00     9.46    94.38
620                639        0.95%  $155,153      628    44.64    81.87    8.864   71.54   4.11     7.14    90.93
640                659        0.99%  $192,963      646    44.96    82.23    8.545   59.98   0.00     7.25    86.70
660                679        0.79%  $193,502      668    44.61    82.08    8.142   67.52   0.00     8.89    91.73
680                699        0.43%  $178,365      691    43.69    80.88    8.238   46.20   4.06    12.79    98.01
700                724        0.33%  $186,292      712    44.66    84.72    8.326   56.99   0.00    13.98    82.59
725                749        0.11%  $153,208      739    42.15    77.55    8.293   52.90   0.00     0.00    65.96
750 max                       0.09%  $372,418      766    40.06    81.40    7.567   30.27   0.00     0.00   100.00




FICO Low     % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  -----------  ----------  ---------  --------  ----  ----------  -------  -------  -------  --------

500                0.00        20.60       71.99      10.63      0.00  0.00        0.00     0.00     0.00     0.00         0
525                4.73         9.01       47.04       2.70      0.00  0.00        0.00     0.00     0.00     0.00         0
575                7.45        20.82       54.13       3.63      0.00  0.00        0.00     0.00     0.00     0.00         0
600                5.62        12.90       56.84       4.56      0.00  0.00        8.17     0.00     0.00     8.17         0
620                9.07        17.21       28.45       6.45      0.00  0.00        0.00     0.00     0.00     0.00         0
640               13.30        32.77       17.24       5.30      0.00  0.00        9.92     0.00     0.00     9.92         0
660                8.27        23.59       20.38      10.63      0.00  0.00       15.97     0.00     0.00    15.97         0
680                1.99        36.95       14.00       4.61      0.00  0.00       38.26     0.00     0.00    38.26         0
700               17.41        29.03       17.41      10.17      0.00  0.00        8.52     0.00     0.00     8.52         0
725               34.04        47.10       56.33       0.00      0.00  0.00       17.84     0.00     0.00    17.84         0
750 max            0.00        69.73       30.27       0.00      0.00  0.00        0.00     0.00     0.00     0.00         0


15. 2ND LARGEST STATE CONCENTRATION (AFTER CALIFORNIA, FLORIDA AND STATE IN
SECTION 14 ABOVE)



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                          % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD  % Condo    Occ
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  -------

500                524        0.10%  $272,136      522    45.55    68.20    8.703   51.87   0.00     0.00   100.00
525                574        0.52%  $272,176      553    43.01    71.96    8.602   69.57   0.00     0.00    94.31
575                599        0.50%  $275,727      590    43.53    75.59    8.383   68.50   0.00     0.00    98.65
600                619        0.75%  $329,472      609    43.06    77.84    8.458   55.46   0.00     0.00    92.35
620                639        0.56%  $309,420      627    39.28    75.46    8.037   59.53   0.00     0.00   100.00
640                659        0.46%  $203,274      648    44.17    80.06    8.309   55.77   0.00     2.56   100.00
660                679        0.31%  $257,604      667    43.52    71.47    7.666   54.93   0.00    11.63   100.00
680                699        0.55%  $325,389      693    44.89    75.27    7.664   48.33   0.00     0.00    92.51
700                724        0.41%  $341,041      708    43.52    78.56    7.791   47.17   0.00     0.00   100.00
725                749        0.51%  $385,735      735    43.24    82.65    7.722   32.81   0.00     0.00    81.70
750 max                       0.34%  $410,947      774    40.73    78.73    7.447   34.34   0.00     0.00   100.00




FICO Low     % Investor  % 2+ family  % Full Doc  % Ltd Doc  % No Doc  % MI  % Int Only  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  -----------  ----------  ---------  --------  ----  ----------  -------  -------  -------  --------

500                0.00        48.13       71.61       0.00      0.00  0.00        0.00     0.00     0.00     0.00      0.00
525                5.69        30.43       43.88      10.06      0.00  0.00        0.00     0.00     0.00     0.00      0.00
575                1.35        31.50       45.76       0.00      0.00  0.00       15.84     0.00     0.00    15.84      0.00
600                7.65        44.54       42.60       9.69      0.00  0.00       14.24     0.00     0.00    14.24      0.00
620                0.00        40.47       48.05       2.76      0.00  0.00       33.72     0.00     0.00    33.72      0.00
640                0.00        41.67        7.26       0.00      0.00  0.00       29.70     0.00     0.00    29.70      0.00
660                0.00        33.44       32.34       0.00      0.00  0.00       13.04     0.00     0.00    13.04      0.00
680                7.49        51.67       15.47       0.00      0.00  0.00        0.00     0.00     0.00     0.00      0.00
700                0.00        52.83       16.74       0.00      0.00  0.00       20.94     0.00     0.00    20.94      0.00
725               18.30        67.19       40.14       0.00      0.00  0.00       31.00     0.00     0.00    31.00      0.00
750 max            0.00        65.66       22.62       0.00      0.00  0.00       18.08     0.00     0.00    18.08      0.00


IX. 40 YEAR (ORIGINAL TERM) LOANS (INCLUDE 40/30 BALOONS, 40/10 ETC - ANY LOAN
WITH AN ORIGINAL AMORTIZATION SCHEDULE > 30 YEARS)



                          Row - %    Wtd Avg
                           Total      Curr.    Wtd Avg  Wtd Avg  Wtd Avg  Wtd Avg                 % Owner
FICO Low     FICO High  Collateral  Bal./Loan    FICO     DTI      LTV      GWAC    % SFD  % PUD    Occ    % Investor  % 2+ family
--------     ---------  ----------  ---------  -------  -------  -------  -------  ------  -----  -------  ----------  -----------

500                524        1.48%  $196,369      511    43.58    73.82    9.479   75.56  16.46    95.36        2.70         3.09
525                574        4.68%  $229,666      553    42.97    75.89    8.757   82.37   6.89    98.96        0.58         7.00
575                599        4.20%  $237,159      588    42.66    80.53    8.497   83.68   6.05    95.91        4.09         7.14
600                619        4.02%  $234,806      609    42.77    80.97    8.194   80.20   6.28    92.82        6.73         7.85
620                639        5.81%  $263,509      629    43.71    81.27    8.137   74.49   7.58    93.87        4.23         7.25
640                659        4.54%  $291,545      648    43.99    80.52    7.899   78.09   7.72    92.28        4.17         5.59
660                679        2.88%  $267,601      668    44.32    81.68    7.983   75.06   3.56    94.33        1.99        10.49
680                699        1.84%  $313,597      690    43.56    80.40    7.806   68.20   7.57    91.29        8.02        13.47
700                724        1.83%  $299,586      710    42.91    83.49    7.926   77.95   5.08    90.78        8.23        13.13
725                749        0.87%  $302,279      736    46.41    80.97    7.931   55.11  17.39    94.27        5.73        22.58
750 max                       0.63%  $278,358      769    43.73    80.35    7.535   69.86   0.00   100.00        0.00         5.27




FICO Low     % Full Doc  % Ltd Doc  % No Doc  % MI  % Nevada   % CA    % AZ   % FL  2 yr IO  3 yr IO  5 yr IO  10 yr IO
--------     ----------  ---------  --------  ----  --------  ------  -----  -----  -------  -------  -------  --------

500               61.20       7.19      0.00  0.00      0.00   30.47  10.53  14.92     0.00     0.00     0.00      0.00
525               52.81       5.30      0.00  0.00      3.43   32.20   7.66  11.63     0.00     0.00     0.00      0.00
575               50.97       1.82      0.00  0.00      5.18   31.76   5.13  12.98     0.00     0.00     0.00      0.00   2ND LARG
600               51.98       5.65      0.00  0.00      2.24   37.09   1.22  13.64     0.00     0.00     0.00      0.00
620               38.99       2.83      0.00  0.00      3.45   42.60   3.39  10.80     0.00     0.00     0.00      0.00
640               31.21       2.17      0.00  0.00      2.14   51.45   2.80  11.53     0.00     0.00     0.00      0.00
660               21.75       3.71      0.00  0.00      2.04   49.96   7.00   3.01     0.00     0.00     0.00      0.00
680               25.35       1.08      0.00  0.00      3.69   55.20   2.25  12.21     0.00     0.00     0.00      0.00
700               21.89       5.06      0.00  0.00      0.00   53.83   5.03   9.65     0.00     0.00     0.00      0.00
725               15.60       0.00      0.00  0.00      0.00   42.70   0.00   5.38     0.00     0.00     0.00      0.00
750 max           13.37       0.00      0.00  0.00      0.00   59.16   5.70   2.98     0.00     0.00     0.00      0.00




PLEASE FILL IN THE % OF THE COLLATERAL SUPPORTING OUR TRANCHE (ONLY) IN EACH OF
THESE ZIP CODES



 Zip    State       Balance      % of Deal
-----   -----   --------------   ---------

01005   MA          315,141.64       0.04%
01031   MA                  --       0.00%
01037   MA                  --       0.00%
01068   MA                  --       0.00%
01083   MA                  --       0.00%
01088   MA                  --       0.00%
01092   MA                  --       0.00%
01331   MA          139,893.69       0.02%
01366   MA                  --       0.00%
01368   MA                  --       0.00%
01420   MA          364,720.14       0.04%
01430   MA                  --       0.00%
01431   MA                  --       0.00%
01432   MA                  --       0.00%
01436   MA                  --       0.00%
01438   MA                  --       0.00%
01440   MA          199,871.03       0.02%
01450   MA                  --       0.00%
01451   MA                  --       0.00%
01452   MA                  --       0.00%
01453   MA          410,785.70       0.05%
01460   MA                  --       0.00%
01462   MA                  --       0.00%
01463   MA                  --       0.00%
01464   MA                  --       0.00%
01467   MA                  --       0.00%
01468   MA                  --       0.00%
01469   MA                  --       0.00%
01473   MA                  --       0.00%
01474   MA                  --       0.00%
01475   MA          167,268.60       0.02%
01501   MA          204,777.04       0.02%
01503   MA                  --       0.00%
01504   MA                  --       0.00%
01505   MA                  --       0.00%
01506   MA                  --       0.00%
01507   MA          137,958.12       0.02%
01510   MA                  --       0.00%
01515   MA                  --       0.00%
01516   MA          171,351.33       0.02%
01518   MA                  --       0.00%
01519   MA                  --       0.00%
01520   MA          419,642.42       0.05%
01521   MA                  --       0.00%
01522   MA                  --       0.00%
01523   MA                  --       0.00%
01524   MA                  --       0.00%
01527   MA          155,888.89       0.02%
01529   MA                  --       0.00%
01531   MA                  --       0.00%
01532   MA                  --       0.00%
01534   MA                  --       0.00%
01535   MA                  --       0.00%
01536   MA                  --       0.00%
01537   MA                  --       0.00%
01540   MA          305,314.43       0.04%
01541   MA                  --       0.00%
01542   MA                  --       0.00%
01543   MA                  --       0.00%
01545   MA                  --       0.00%
01550   MA                  --       0.00%
01560   MA                  --       0.00%
01562   MA                  --       0.00%
01564   MA                  --       0.00%
01566   MA                  --       0.00%
01568   MA                  --       0.00%
01569   MA                  --       0.00%
01570   MA                  --       0.00%
01571   MA                  --       0.00%
01581   MA                  --       0.00%
01583   MA                  --       0.00%
01585   MA                  --       0.00%
01588   MA          224,781.05       0.03%
01590   MA                  --       0.00%
01602   MA                  --       0.00%
01603   MA                  --       0.00%
01604   MA                  --       0.00%
01605   MA           58,892.93       0.01%
01606   MA                  --       0.00%
01607   MA                  --       0.00%
01608   MA                  --       0.00%
01609   MA                  --       0.00%
01610   MA                  --       0.00%
01611   MA                  --       0.00%
01612   MA                  --       0.00%
01701   MA                  --       0.00%
01702   MA          207,732.19       0.02%
01718   MA                  --       0.00%
01719   MA                  --       0.00%
01720   MA                  --       0.00%
01721   MA                  --       0.00%
01730   MA                  --       0.00%
01731   MA                  --       0.00%
01740   MA                  --       0.00%
01741   MA                  --       0.00%
01742   MA                  --       0.00%
01745   MA                  --       0.00%
01746   MA                  --       0.00%
01747   MA                  --       0.00%
01748   MA                  --       0.00%
01749   MA                  --       0.00%
01752   MA          329,558.78       0.04%
01754   MA                  --       0.00%
01756   MA                  --       0.00%
01757   MA                  --       0.00%
01760   MA                  --       0.00%
01770   MA                  --       0.00%
01772   MA                  --       0.00%
01773   MA                  --       0.00%
01775   MA                  --       0.00%
01776   MA                  --       0.00%
01778   MA                  --       0.00%
01801   MA          246,773.45       0.03%
01803   MA                  --       0.00%
01810   MA                  --       0.00%
01821   MA                  --       0.00%
01824   MA                  --       0.00%
01826   MA                  --       0.00%
01827   MA                  --       0.00%
01830   MA                  --       0.00%
01832   MA           88,255.14       0.01%
01833   MA                  --       0.00%
01834   MA                  --       0.00%
01835   MA          188,584.12       0.02%
01840   MA                  --       0.00%
01841   MA          123,590.09       0.01%
01843   MA                  --       0.00%
01844   MA          473,677.71       0.06%
01845   MA                  --       0.00%
01850   MA                  --       0.00%
01851   MA                  --       0.00%
01852   MA          212,206.45       0.03%
01854   MA                  --       0.00%
01860   MA                  --       0.00%
01862   MA                  --       0.00%
01863   MA                  --       0.00%
01864   MA                  --       0.00%
01867   MA                  --       0.00%
01876   MA          374,806.68       0.04%
01879   MA                  --       0.00%
01880   MA                  --       0.00%
01886   MA          209,962.90       0.03%
01887   MA                  --       0.00%
01890   MA                  --       0.00%
01902   MA          191,805.07       0.02%
01904   MA                  --       0.00%
01905   MA          493,219.92       0.06%
01906   MA          575,102.21       0.07%
01907   MA                  --       0.00%
01908   MA                  --       0.00%
01913   MA                  --       0.00%
01915   MA          253,956.08       0.03%
01921   MA                  --       0.00%
01922   MA          277,951.11       0.03%
01923   MA                  --       0.00%
01929   MA                  --       0.00%
01930   MA                  --       0.00%
01938   MA                  --       0.00%
01940   MA                  --       0.00%
01944   MA                  --       0.00%
01945   MA          318,248.56       0.04%
01949   MA                  --       0.00%
01950   MA                  --       0.00%
01951   MA                  --       0.00%
01952   MA          219,002.57       0.03%
01960   MA          541,927.33       0.06%
01966   MA                  --       0.00%
01969   MA                  --       0.00%
01970   MA                  --       0.00%
01982   MA                  --       0.00%
01983   MA                  --       0.00%
01984   MA                  --       0.00%
01985   MA                  --       0.00%
02019   MA          529,484.43       0.06%
02021   MA                  --       0.00%
02025   MA                  --       0.00%
02026   MA                  --       0.00%
02030   MA                  --       0.00%
02032   MA                  --       0.00%
02035   MA                  --       0.00%
02038   MA                  --       0.00%
02043   MA                  --       0.00%
02045   MA          299,574.44       0.04%
02048   MA                  --       0.00%
02050   MA                  --       0.00%
02052   MA                  --       0.00%
02053   MA                  --       0.00%
02054   MA                  --       0.00%
02056   MA                  --       0.00%
02061   MA                  --       0.00%
02062   MA                  --       0.00%
02066   MA                  --       0.00%
02067   MA                  --       0.00%
02071   MA                  --       0.00%
02072   MA                  --       0.00%
02081   MA          134,380.25       0.02%
02090   MA                  --       0.00%
02093   MA                  --       0.00%
02108   MA                  --       0.00%
02109   MA                  --       0.00%
02110   MA                  --       0.00%
02111   MA                  --       0.00%
02113   MA                  --       0.00%
02114   MA                  --       0.00%
02115   MA                  --       0.00%
02116   MA                  --       0.00%
02118   MA                  --       0.00%
02119   MA                  --       0.00%
02120   MA                  --       0.00%
02121   MA                  --       0.00%
02122   MA                  --       0.00%
02124   MA          739,675.36       0.09%
02125   MA           99,868.59       0.01%
02126   MA          553,634.77       0.07%
02127   MA          147,936.52       0.02%
02128   MA                  --       0.00%
02129   MA                  --       0.00%
02130   MA                  --       0.00%
02131   MA          186,565.88       0.02%
02132   MA                  --       0.00%
02134   MA                  --       0.00%
02135   MA                  --       0.00%
02136   MA                  --       0.00%
02138   MA                  --       0.00%
02139   MA                  --       0.00%
02140   MA                  --       0.00%
02141   MA                  --       0.00%
02142   MA                  --       0.00%
02143   MA          136,118.63       0.02%
02144   MA                  --       0.00%
02145   MA          251,716.40       0.03%
02148   MA                  --       0.00%
02149   MA                  --       0.00%
02150   MA          475,000.00       0.06%
02151   MA                  --       0.00%
02152   MA                  --       0.00%
02155   MA                  --       0.00%
02163   MA                  --       0.00%
02169   MA          355,735.49       0.04%
02170   MA                  --       0.00%
02171   MA                  --       0.00%
02176   MA                  --       0.00%
02180   MA                  --       0.00%
02184   MA                  --       0.00%
02186   MA          598,492.94       0.07%
02188   MA                  --       0.00%
02189   MA                  --       0.00%
02190   MA                  --       0.00%
02191   MA                  --       0.00%
02199   MA                  --       0.00%
02210   MA                  --       0.00%
02215   MA                  --       0.00%
02222   MA                  --       0.00%
02301   MA           85,358.12       0.01%
02302   MA                  --       0.00%
02322   MA                  --       0.00%
02324   MA          124,965.71       0.01%
02330   MA                  --       0.00%
02332   MA                  --       0.00%
02333   MA                  --       0.00%
02338   MA                  --       0.00%
02339   MA                  --       0.00%
02341   MA                  --       0.00%
02343   MA                  --       0.00%
02346   MA                  --       0.00%
02347   MA                  --       0.00%
02351   MA                  --       0.00%
02356   MA                  --       0.00%
02358   MA                  --       0.00%
02359   MA                  --       0.00%
02360   MA                  --       0.00%
02364   MA          400,350.00       0.05%
02366   MA                  --       0.00%
02367   MA                  --       0.00%
02368   MA                  --       0.00%
02370   MA                  --       0.00%
02375   MA                  --       0.00%
02379   MA                  --       0.00%
02382   MA                  --       0.00%
02420   MA                  --       0.00%
02421   MA                  --       0.00%
02445   MA                  --       0.00%
02446   MA                  --       0.00%
02451   MA                  --       0.00%
02452   MA                  --       0.00%
02453   MA                  --       0.00%
02458   MA                  --       0.00%
02459   MA                  --       0.00%
02460   MA                  --       0.00%
02461   MA                  --       0.00%
02462   MA                  --       0.00%
02464   MA                  --       0.00%
02465   MA                  --       0.00%
02466   MA                  --       0.00%
02467   MA                  --       0.00%
02468   MA                  --       0.00%
02472   MA                  --       0.00%
02474   MA                  --       0.00%
02476   MA                  --       0.00%
02478   MA                  --       0.00%
02481   MA                  --       0.00%
02482   MA                  --       0.00%
02492   MA                  --       0.00%
02493   MA                  --       0.00%
02494   MA                  --       0.00%
02532   MA          564,288.68       0.07%
02534   MA                  --       0.00%
02536   MA                  --       0.00%
02537   MA                  --       0.00%
02538   MA                  --       0.00%
02540   MA                  --       0.00%
02542   MA                  --       0.00%
02543   MA                  --       0.00%
02556   MA                  --       0.00%
02558   MA                  --       0.00%
02559   MA                  --       0.00%
02563   MA                  --       0.00%
02571   MA          222,909.96       0.03%
02576   MA                  --       0.00%
02601   MA                  --       0.00%
02630   MA                  --       0.00%
02631   MA                  --       0.00%
02632   MA                  --       0.00%
02633   MA                  --       0.00%
02635   MA                  --       0.00%
02638   MA                  --       0.00%
02639   MA                  --       0.00%
02642   MA                  --       0.00%
02644   MA                  --       0.00%
02645   MA                  --       0.00%
02646   MA                  --       0.00%
02647   MA                  --       0.00%
02648   MA          259,201.20       0.03%
02649   MA                  --       0.00%
02650   MA                  --       0.00%
02652   MA                  --       0.00%
02653   MA                  --       0.00%
02655   MA                  --       0.00%
02657   MA                  --       0.00%
02659   MA                  --       0.00%
02660   MA                  --       0.00%
02661   MA                  --       0.00%
02664   MA                  --       0.00%
02666   MA                  --       0.00%
02667   MA                  --       0.00%
02668   MA                  --       0.00%
02669   MA                  --       0.00%
02670   MA                  --       0.00%
02671   MA                  --       0.00%
02672   MA                  --       0.00%
02673   MA                  --       0.00%
02675   MA                  --       0.00%
02702   MA          339,835.91       0.04%
02703   MA          501,343.35       0.06%
02715   MA                  --       0.00%
02717   MA                  --       0.00%
02718   MA                  --       0.00%
02719   MA          214,729.32       0.03%
02720   MA          139,916.57       0.02%
02721   MA          526,935.26       0.06%
02723   MA          246,809.09       0.03%
02724   MA                  --       0.00%
02725   MA                  --       0.00%
02726   MA                  --       0.00%
02738   MA                  --       0.00%
02739   MA                  --       0.00%
02740   MA          261,848.97       0.03%
02743   MA                  --       0.00%
02744   MA                  --       0.00%
02745   MA           81,816.56       0.01%
02746   MA                  --       0.00%
02747   MA                  --       0.00%
02748   MA                  --       0.00%
02760   MA                  --       0.00%
02762   MA                  --       0.00%
02763   MA                  --       0.00%
02764   MA                  --       0.00%
02766   MA                  --       0.00%
02767   MA                  --       0.00%
02769   MA                  --       0.00%
02770   MA                  --       0.00%
02771   MA                  --       0.00%
02777   MA                  --       0.00%
02779   MA                  --       0.00%
02780   MA          557,495.52       0.07%
02790   MA                  --       0.00%
02804   RI                  --       0.00%
02806   RI                  --       0.00%
02807   RI                  --       0.00%
02808   RI                  --       0.00%
02809   RI          363,566.91       0.04%
02812   RI                  --       0.00%
02813   RI          167,268.60       0.02%
02814   RI                  --       0.00%
02815   RI                  --       0.00%
02816   RI                  --       0.00%
02817   RI                  --       0.00%
02818   RI          505,249.22       0.06%
02822   RI                  --       0.00%
02825   RI                  --       0.00%
02827   RI                  --       0.00%
02828   RI                  --       0.00%
02830   RI                  --       0.00%
02831   RI                  --       0.00%
02832   RI                  --       0.00%
02833   RI                  --       0.00%
02835   RI          504,000.00       0.06%
02836   RI                  --       0.00%
02837   RI                  --       0.00%
02838   RI                  --       0.00%
02839   RI                  --       0.00%
02840   RI                  --       0.00%
02842   RI          239,685.92       0.03%
02852   RI          307,847.11       0.04%
02857   RI          192,299.64       0.02%
02858   RI                  --       0.00%
02859   RI           64,942.38       0.01%
02860   RI        1,135,323.97       0.14%
02861   RI        1,034,893.94       0.12%
02863   RI          239,570.54       0.03%
02864   RI          244,000.00       0.03%
02865   RI          626,117.06       0.07%
02871   RI                  --       0.00%
02874   RI                  --       0.00%
02875   RI                  --       0.00%
02878   RI          216,825.40       0.03%
02879   RI                  --       0.00%
02881   RI                  --       0.00%
02882   RI          204,882.12       0.02%
02885   RI          197,796.64       0.02%
02886   RI          478,886.02       0.06%
02888   RI          194,321.91       0.02%
02889   RI          654,229.22       0.08%
02891   RI          568,443.63       0.07%
02892   RI                  --       0.00%
02893   RI        1,364,443.86       0.16%
02894   RI                  --       0.00%
02895   RI          300,817.65       0.04%
02896   RI                  --       0.00%
02898   RI                  --       0.00%
02903   RI                  --       0.00%
02904   RI           29,188.01       0.00%
02905   RI          943,702.92       0.11%
02906   RI                  --       0.00%
02907   RI          803,401.91       0.10%
02908   RI          431,211.35       0.05%
02909   RI        1,300,349.52       0.16%
02910   RI          630,398.22       0.08%
02911   RI          253,413.70       0.03%
02914   RI          254,851.72       0.03%
02915   RI                  --       0.00%
02916   RI          260,422.08       0.03%
02917   RI          149,426.46       0.02%
02919   RI          195,662.72       0.02%
02920   RI          174,284.28       0.02%
02921   RI                  --       0.00%
03031   NH                  --       0.00%
03032   NH                  --       0.00%
03033   NH                  --       0.00%
03034   NH                  --       0.00%
03036   NH                  --       0.00%
03037   NH                  --       0.00%
03038   NH                  --       0.00%
03042   NH                  --       0.00%
03044   NH                  --       0.00%
03045   NH                  --       0.00%
03048   NH                  --       0.00%
03049   NH                  --       0.00%
03051   NH                  --       0.00%
03052   NH                  --       0.00%
03053   NH                  --       0.00%
03054   NH          215,642.62       0.03%
03055   NH                  --       0.00%
03060   NH          340,105.69       0.04%
03062   NH                  --       0.00%
03063   NH                  --       0.00%
03064   NH                  --       0.00%
03071   NH                  --       0.00%
03076   NH                  --       0.00%
03077   NH                  --       0.00%
03079   NH                  --       0.00%
03086   NH                  --       0.00%
03087   NH                  --       0.00%
03101   NH                  --       0.00%
03102   NH                  --       0.00%
03103   NH                  --       0.00%
03104   NH                  --       0.00%
03106   NH                  --       0.00%
03109   NH                  --       0.00%
03110   NH                  --       0.00%
03261   NH                  --       0.00%
03281   NH                  --       0.00%
03290   NH                  --       0.00%
03291   NH                  --       0.00%
03801   NH                  --       0.00%
03811   NH                  --       0.00%
03819   NH                  --       0.00%
03820   NH                  --       0.00%
03824   NH                  --       0.00%
03825   NH                  --       0.00%
03826   NH                  --       0.00%
03827   NH                  --       0.00%
03833   NH                  --       0.00%
03835   NH                  --       0.00%
03839   NH                  --       0.00%
03840   NH                  --       0.00%
03841   NH                  --       0.00%
03842   NH                  --       0.00%
03844   NH                  --       0.00%
03848   NH                  --       0.00%
03854   NH                  --       0.00%
03856   NH                  --       0.00%
03857   NH                  --       0.00%
03858   NH                  --       0.00%
03862   NH                  --       0.00%
03865   NH                  --       0.00%
03867   NH                  --       0.00%
03868   NH                  --       0.00%
03869   NH                  --       0.00%
03870   NH                  --       0.00%
03873   NH                  --       0.00%
03874   NH                  --       0.00%
03878   NH                  --       0.00%
03885   NH                  --       0.00%
03901   ME                  --       0.00%
03903   ME                  --       0.00%
03904   ME                  --       0.00%
03905   ME          195,829.52       0.02%
03906   ME                  --       0.00%
03908   ME                  --       0.00%
03909   ME                  --       0.00%
06277   CT                  --       0.00%
06390   NY                  --       0.00%
07001   NJ          672,673.98       0.08%
07003   NJ          315,705.83       0.04%
07004   NJ                  --       0.00%
07005   NJ                  --       0.00%
07006   NJ                  --       0.00%
07008   NJ                  --       0.00%
07009   NJ                  --       0.00%
07016   NJ                  --       0.00%
07017   NJ                  --       0.00%
07018   NJ                  --       0.00%
07021   NJ                  --       0.00%
07023   NJ                  --       0.00%
07027   NJ                  --       0.00%
07028   NJ                  --       0.00%
07033   NJ                  --       0.00%
07034   NJ                  --       0.00%
07035   NJ                  --       0.00%
07036   NJ                  --       0.00%
07039   NJ                  --       0.00%
07040   NJ                  --       0.00%
07041   NJ                  --       0.00%
07042   NJ                  --       0.00%
07043   NJ                  --       0.00%
07044   NJ                  --       0.00%
07045   NJ                  --       0.00%
07046   NJ                  --       0.00%
07050   NJ          346,095.54       0.04%
07052   NJ                  --       0.00%
07054   NJ                  --       0.00%
07058   NJ                  --       0.00%
07060   NJ                  --       0.00%
07062   NJ          211,903.20       0.03%
07063   NJ          329,286.62       0.04%
07064   NJ                  --       0.00%
07065   NJ                  --       0.00%
07066   NJ                  --       0.00%
07067   NJ                  --       0.00%
07068   NJ                  --       0.00%
07076   NJ                  --       0.00%
07077   NJ                  --       0.00%
07078   NJ                  --       0.00%
07079   NJ                  --       0.00%
07080   NJ                  --       0.00%
07081   NJ          349,530.63       0.04%
07082   NJ                  --       0.00%
07083   NJ          758,334.46       0.09%
07088   NJ                  --       0.00%
07090   NJ                  --       0.00%
07092   NJ                  --       0.00%
07095   NJ                  --       0.00%
07102   NJ                  --       0.00%
07103   NJ          498,589.19       0.06%
07104   NJ          524,660.98       0.06%
07105   NJ                  --       0.00%
07106   NJ                  --       0.00%
07107   NJ          279,673.21       0.03%
07108   NJ          248,295.13       0.03%
07109   NJ          274,620.23       0.03%
07110   NJ                  --       0.00%
07111   NJ                  --       0.00%
07112   NJ                  --       0.00%
07114   NJ          195,479.28       0.02%
07201   NJ                  --       0.00%
07202   NJ                  --       0.00%
07203   NJ          224,793.83       0.03%
07204   NJ          302,138.69       0.04%
07205   NJ                  --       0.00%
07206   NJ                  --       0.00%
07208   NJ                  --       0.00%
07405   NJ                  --       0.00%
07416   NJ                  --       0.00%
07418   NJ                  --       0.00%
07419   NJ          344,727.30       0.04%
07422   NJ                  --       0.00%
07428   NJ                  --       0.00%
07439   NJ                  --       0.00%
07440   NJ                  --       0.00%
07444   NJ                  --       0.00%
07457   NJ                  --       0.00%
07460   NJ                  --       0.00%
07461   NJ                  --       0.00%
07462   NJ          155,920.81       0.02%
07801   NJ                  --       0.00%
07803   NJ                  --       0.00%
07821   NJ                  --       0.00%
07822   NJ                  --       0.00%
07823   NJ                  --       0.00%
07825   NJ                  --       0.00%
07826   NJ          338,955.41       0.04%
07827   NJ          200,615.81       0.02%
07828   NJ                  --       0.00%
07830   NJ                  --       0.00%
07832   NJ                  --       0.00%
07833   NJ                  --       0.00%
07834   NJ                  --       0.00%
07836   NJ                  --       0.00%
07838   NJ                  --       0.00%
07840   NJ                  --       0.00%
07842   NJ                  --       0.00%
07843   NJ                  --       0.00%
07846   NJ                  --       0.00%
07847   NJ                  --       0.00%
07848   NJ                  --       0.00%
07849   NJ                  --       0.00%
07850   NJ                  --       0.00%
07851   NJ                  --       0.00%
07852   NJ                  --       0.00%
07853   NJ                  --       0.00%
07856   NJ                  --       0.00%
07857   NJ                  --       0.00%
07860   NJ                  --       0.00%
07863   NJ                  --       0.00%
07865   NJ          202,281.32       0.02%
07866   NJ                  --       0.00%
07869   NJ                  --       0.00%
07871   NJ                  --       0.00%
07874   NJ                  --       0.00%
07876   NJ                  --       0.00%
07878   NJ                  --       0.00%
07882   NJ                  --       0.00%
07885   NJ                  --       0.00%
07901   NJ          507,846.37       0.06%
07920   NJ                  --       0.00%
07921   NJ                  --       0.00%
07922   NJ                  --       0.00%
07924   NJ                  --       0.00%
07927   NJ                  --       0.00%
07928   NJ                  --       0.00%
07930   NJ                  --       0.00%
07931   NJ                  --       0.00%
07932   NJ                  --       0.00%
07933   NJ                  --       0.00%
07934   NJ                  --       0.00%
07935   NJ                  --       0.00%
07936   NJ                  --       0.00%
07940   NJ          929,652.95       0.11%
07945   NJ                  --       0.00%
07946   NJ                  --       0.00%
07950   NJ                  --       0.00%
07960   NJ                  --       0.00%
07970   NJ                  --       0.00%
07974   NJ                  --       0.00%
07976   NJ                  --       0.00%
07977   NJ                  --       0.00%
07979   NJ                  --       0.00%
07980   NJ                  --       0.00%
07981   NJ                  --       0.00%
08202   NJ                  --       0.00%
08204   NJ                  --       0.00%
08210   NJ          366,582.71       0.04%
08212   NJ                  --       0.00%
08223   NJ                  --       0.00%
08226   NJ                  --       0.00%
08230   NJ                  --       0.00%
08242   NJ                  --       0.00%
08243   NJ                  --       0.00%
08245   NJ                  --       0.00%
08247   NJ                  --       0.00%
08248   NJ                  --       0.00%
08251   NJ                  --       0.00%
08252   NJ                  --       0.00%
08260   NJ                  --       0.00%
08270   NJ                  --       0.00%
08401   NJ                  --       0.00%
08502   NJ                  --       0.00%
08512   NJ                  --       0.00%
08528   NJ                  --       0.00%
08530   NJ                  --       0.00%
08536   NJ                  --       0.00%
08551   NJ                  --       0.00%
08553   NJ                  --       0.00%
08558   NJ                  --       0.00%
08559   NJ                  --       0.00%
08801   NJ                  --       0.00%
08802   NJ                  --       0.00%
08804   NJ                  --       0.00%
08805   NJ                  --       0.00%
08807   NJ                  --       0.00%
08809   NJ                  --       0.00%
08810   NJ                  --       0.00%
08812   NJ                  --       0.00%
08816   NJ                  --       0.00%
08817   NJ                  --       0.00%
08820   NJ                  --       0.00%
08821   NJ                  --       0.00%
08822   NJ          399,359.04       0.05%
08823   NJ                  --       0.00%
08824   NJ                  --       0.00%
08825   NJ                  --       0.00%
08826   NJ                  --       0.00%
08827   NJ                  --       0.00%
08828   NJ                  --       0.00%
08829   NJ                  --       0.00%
08830   NJ                  --       0.00%
08831   NJ                  --       0.00%
08832   NJ                  --       0.00%
08833   NJ                  --       0.00%
08835   NJ                  --       0.00%
08836   NJ                  --       0.00%
08837   NJ                  --       0.00%
08840   NJ                  --       0.00%
08846   NJ                  --       0.00%
08848   NJ                  --       0.00%
08850   NJ                  --       0.00%
08852   NJ                  --       0.00%
08853   NJ                  --       0.00%
08854   NJ                  --       0.00%
08857   NJ                  --       0.00%
08858   NJ                  --       0.00%
08859   NJ                  --       0.00%
08861   NJ                  --       0.00%
08863   NJ                  --       0.00%
08865   NJ                  --       0.00%
08867   NJ                  --       0.00%
08869   NJ                  --       0.00%
08872   NJ                  --       0.00%
08873   NJ                  --       0.00%
08876   NJ                  --       0.00%
08879   NJ                  --       0.00%
08880   NJ                  --       0.00%
08882   NJ                  --       0.00%
08884   NJ                  --       0.00%
08886   NJ                  --       0.00%
08887   NJ                  --       0.00%
08889   NJ                  --       0.00%
08901   NJ          160,817.88       0.02%
08902   NJ                  --       0.00%
08904   NJ                  --       0.00%
10001   NY                  --       0.00%
10002   NY                  --       0.00%
10003   NY                  --       0.00%
10004   NY                  --       0.00%
10005   NY                  --       0.00%
10006   NY                  --       0.00%
10007   NY                  --       0.00%
10009   NY                  --       0.00%
10010   NY                  --       0.00%
10011   NY                  --       0.00%
10012   NY                  --       0.00%
10013   NY                  --       0.00%
10014   NY                  --       0.00%
10016   NY                  --       0.00%
10017   NY                  --       0.00%
10018   NY                  --       0.00%
10019   NY                  --       0.00%
10020   NY                  --       0.00%
10021   NY                  --       0.00%
10022   NY                  --       0.00%
10023   NY                  --       0.00%
10024   NY                  --       0.00%
10025   NY                  --       0.00%
10026   NY                  --       0.00%
10027   NY                  --       0.00%
10028   NY                  --       0.00%
10029   NY                  --       0.00%
10030   NY                  --       0.00%
10031   NY                  --       0.00%
10032   NY                  --       0.00%
10033   NY                  --       0.00%
10034   NY                  --       0.00%
10035   NY                  --       0.00%
10036   NY                  --       0.00%
10037   NY                  --       0.00%
10038   NY                  --       0.00%
10039   NY                  --       0.00%
10040   NY                  --       0.00%
10041   NY                  --       0.00%
10044   NY                  --       0.00%
10048   NY                  --       0.00%
10069   NY                  --       0.00%
10103   NY                  --       0.00%
10111   NY                  --       0.00%
10112   NY                  --       0.00%
10115   NY                  --       0.00%
10119   NY                  --       0.00%
10128   NY                  --       0.00%
10152   NY                  --       0.00%
10153   NY                  --       0.00%
10154   NY                  --       0.00%
10162   NY                  --       0.00%
10165   NY                  --       0.00%
10167   NY                  --       0.00%
10169   NY                  --       0.00%
10170   NY                  --       0.00%
10171   NY                  --       0.00%
10172   NY                  --       0.00%
10173   NY                  --       0.00%
10177   NY                  --       0.00%
10271   NY                  --       0.00%
10278   NY                  --       0.00%
10279   NY                  --       0.00%
10280   NY                  --       0.00%
10282   NY                  --       0.00%
10301   NY                  --       0.00%
10302   NY                  --       0.00%
10303   NY                  --       0.00%
10304   NY          245,000.00       0.03%
10305   NY          321,181.16       0.04%
10306   NY                  --       0.00%
10307   NY                  --       0.00%
10308   NY          409,629.89       0.05%
10309   NY                  --       0.00%
10310   NY          337,129.15       0.04%
10312   NY                  --       0.00%
10314   NY                  --       0.00%
10451   NY                  --       0.00%
10452   NY                  --       0.00%
10453   NY          383,481.92       0.05%
10454   NY                  --       0.00%
10455   NY                  --       0.00%
10456   NY                  --       0.00%
10457   NY          367,803.25       0.04%
10458   NY                  --       0.00%
10459   NY          407,804.25       0.05%
10460   NY                  --       0.00%
10461   NY                  --       0.00%
10462   NY                  --       0.00%
10463   NY                  --       0.00%
10464   NY                  --       0.00%
10465   NY          650,759.48       0.08%
10466   NY        1,124,463.54       0.13%
10467   NY          880,837.70       0.11%
10468   NY                  --       0.00%
10469   NY          955,838.52       0.11%
10470   NY                  --       0.00%
10471   NY                  --       0.00%
10472   NY          490,500.00       0.06%
10473   NY                  --       0.00%
10474   NY                  --       0.00%
10475   NY                  --       0.00%
10501   NY                  --       0.00%
10502   NY                  --       0.00%
10503   NY                  --       0.00%
10504   NY                  --       0.00%
10506   NY                  --       0.00%
10507   NY                  --       0.00%
10509   NY                  --       0.00%
10510   NY                  --       0.00%
10511   NY                  --       0.00%
10512   NY                  --       0.00%
10514   NY          299,776.91       0.04%
10516   NY                  --       0.00%
10518   NY                  --       0.00%
10519   NY                  --       0.00%
10520   NY                  --       0.00%
10522   NY                  --       0.00%
10523   NY          209,757.46       0.03%
10524   NY                  --       0.00%
10526   NY          275,984.25       0.03%
10527   NY                  --       0.00%
10528   NY                  --       0.00%
10530   NY                  --       0.00%
10532   NY                  --       0.00%
10533   NY                  --       0.00%
10535   NY                  --       0.00%
10536   NY                  --       0.00%
10537   NY          233,238.77       0.03%
10538   NY                  --       0.00%
10541   NY                  --       0.00%
10543   NY                  --       0.00%
10546   NY                  --       0.00%
10547   NY                  --       0.00%
10548   NY                  --       0.00%
10549   NY                  --       0.00%
10550   NY          519,601.50       0.06%
10552   NY                  --       0.00%
10553   NY                  --       0.00%
10560   NY                  --       0.00%
10562   NY                  --       0.00%
10566   NY                  --       0.00%
10567   NY                  --       0.00%
10570   NY                  --       0.00%
10573   NY                  --       0.00%
10576   NY                  --       0.00%
10577   NY                  --       0.00%
10578   NY                  --       0.00%
10579   NY                  --       0.00%
10580   NY                  --       0.00%
10583   NY                  --       0.00%
10588   NY                  --       0.00%
10589   NY                  --       0.00%
10590   NY                  --       0.00%
10591   NY                  --       0.00%
10594   NY                  --       0.00%
10595   NY                  --       0.00%
10597   NY                  --       0.00%
10598   NY                  --       0.00%
10601   NY                  --       0.00%
10603   NY                  --       0.00%
10604   NY                  --       0.00%
10605   NY                  --       0.00%
10606   NY          610,000.00       0.07%
10607   NY                  --       0.00%
10701   NY          138,417.65       0.02%
10703   NY          278,947.88       0.03%
10704   NY                  --       0.00%
10705   NY                  --       0.00%
10706   NY                  --       0.00%
10707   NY                  --       0.00%
10708   NY                  --       0.00%
10709   NY                  --       0.00%
10710   NY                  --       0.00%
10801   NY                  --       0.00%
10803   NY                  --       0.00%
10804   NY          535,188.00       0.06%
10805   NY                  --       0.00%
10901   NY                  --       0.00%
10913   NY                  --       0.00%
10920   NY                  --       0.00%
10923   NY                  --       0.00%
10927   NY                  --       0.00%
10931   NY                  --       0.00%
10952   NY                  --       0.00%
10954   NY          410,000.00       0.05%
10956   NY                  --       0.00%
10960   NY                  --       0.00%
10962   NY                  --       0.00%
10964   NY                  --       0.00%
10965   NY                  --       0.00%
10968   NY                  --       0.00%
10970   NY          191,676.34       0.02%
10974   NY                  --       0.00%
10976   NY                  --       0.00%
10977   NY                  --       0.00%
10980   NY                  --       0.00%
10983   NY                  --       0.00%
10984   NY                  --       0.00%
10986   NY                  --       0.00%
10989   NY                  --       0.00%
10993   NY                  --       0.00%
10994   NY                  --       0.00%
11001   NY          353,142.04       0.04%
11003   NY          407,516.30       0.05%
11004   NY                  --       0.00%
11005   NY                  --       0.00%
11010   NY                  --       0.00%
11020   NY                  --       0.00%
11021   NY                  --       0.00%
11023   NY                  --       0.00%
11024   NY                  --       0.00%
11030   NY                  --       0.00%
11040   NY                  --       0.00%
11042   NY                  --       0.00%
11050   NY                  --       0.00%
11096   NY                  --       0.00%
11101   NY                  --       0.00%
11102   NY                  --       0.00%
11103   NY                  --       0.00%
11104   NY                  --       0.00%
11105   NY                  --       0.00%
11106   NY                  --       0.00%
11201   NY                  --       0.00%
11203   NY          247,713.87       0.03%
11204   NY                  --       0.00%
11205   NY                  --       0.00%
11206   NY                  --       0.00%
11207   NY          722,543.53       0.09%
11208   NY          459,100.32       0.05%
11209   NY                  --       0.00%
11210   NY          721,319.44       0.09%
11211   NY                  --       0.00%
11212   NY                  --       0.00%
11213   NY                  --       0.00%
11214   NY                  --       0.00%
11215   NY                  --       0.00%
11216   NY          519,419.29       0.06%
11217   NY                  --       0.00%
11218   NY                  --       0.00%
11219   NY                  --       0.00%
11220   NY                  --       0.00%
11221   NY          179,757.13       0.02%
11222   NY                  --       0.00%
11223   NY          249,843.33       0.03%
11224   NY                  --       0.00%
11225   NY          444,725.11       0.05%
11226   NY                  --       0.00%
11228   NY                  --       0.00%
11229   NY                  --       0.00%
11230   NY                  --       0.00%
11231   NY                  --       0.00%
11232   NY                  --       0.00%
11233   NY          629,164.92       0.08%
11234   NY          447,866.95       0.05%
11235   NY                  --       0.00%
11236   NY          826,617.19       0.10%
11237   NY                  --       0.00%
11238   NY                  --       0.00%
11239   NY                  --       0.00%
11354   NY                  --       0.00%
11355   NY                  --       0.00%
11356   NY                  --       0.00%
11357   NY                  --       0.00%
11358   NY                  --       0.00%
11360   NY                  --       0.00%
11361   NY                  --       0.00%
11362   NY                  --       0.00%
11363   NY                  --       0.00%
11364   NY                  --       0.00%
11365   NY                  --       0.00%
11366   NY          399,474.92       0.05%
11367   NY                  --       0.00%
11368   NY          759,797.41       0.09%
11369   NY                  --       0.00%
11370   NY                  --       0.00%
11371   NY                  --       0.00%
11372   NY          159,707.16       0.02%
11373   NY          257,052.85       0.03%
11374   NY                  --       0.00%
11375   NY                  --       0.00%
11377   NY                  --       0.00%
11378   NY                  --       0.00%
11379   NY                  --       0.00%
11385   NY        1,019,648.70       0.12%
11411   NY                  --       0.00%
11412   NY        1,466,396.55       0.18%
11413   NY                  --       0.00%
11414   NY          569,149.22       0.07%
11415   NY                  --       0.00%
11416   NY                  --       0.00%
11417   NY          479,681.53       0.06%
11418   NY                  --       0.00%
11419   NY                  --       0.00%
11420   NY          808,247.84       0.10%
11421   NY                  --       0.00%
11422   NY          437,161.87       0.05%
11423   NY          141,401.77       0.02%
11426   NY          229,534.56       0.03%
11427   NY                  --       0.00%
11428   NY          415,108.04       0.05%
11429   NY          969,821.47       0.12%
11430   NY                  --       0.00%
11432   NY                  --       0.00%
11433   NY          339,789.75       0.04%
11434   NY          734,275.18       0.09%
11435   NY                  --       0.00%
11436   NY          950,647.68       0.11%
11501   NY                  --       0.00%
11507   NY                  --       0.00%
11509   NY                  --       0.00%
11510   NY                  --       0.00%
11514   NY                  --       0.00%
11516   NY                  --       0.00%
11518   NY                  --       0.00%
11520   NY          539,655.20       0.06%
11530   NY                  --       0.00%
11542   NY                  --       0.00%
11545   NY                  --       0.00%
11547   NY                  --       0.00%
11548   NY                  --       0.00%
11550   NY                  --       0.00%
11552   NY          359,506.79       0.04%
11553   NY                  --       0.00%
11554   NY                  --       0.00%
11557   NY                  --       0.00%
11558   NY                  --       0.00%
11559   NY                  --       0.00%
11560   NY                  --       0.00%
11561   NY                  --       0.00%
11563   NY                  --       0.00%
11565   NY                  --       0.00%
11566   NY                  --       0.00%
11568   NY                  --       0.00%
11569   NY                  --       0.00%
11570   NY                  --       0.00%
11572   NY                  --       0.00%
11575   NY           72,896.72       0.01%
11576   NY                  --       0.00%
11577   NY                  --       0.00%
11579   NY                  --       0.00%
11580   NY                  --       0.00%
11581   NY                  --       0.00%
11590   NY                  --       0.00%
11596   NY                  --       0.00%
11598   NY                  --       0.00%
11691   NY          710,921.01       0.09%
11692   NY          391,904.35       0.05%
11693   NY                  --       0.00%
11694   NY                  --       0.00%
11697   NY                  --       0.00%
11701   NY           99,847.34       0.01%
11702   NY          209,467.69       0.03%
11703   NY                  --       0.00%
11704   NY          344,059.13       0.04%
11705   NY                  --       0.00%
11706   NY          339,659.60       0.04%
11709   NY                  --       0.00%
11710   NY                  --       0.00%
11713   NY          257,055.06       0.03%
11714   NY          393,478.58       0.05%
11715   NY                  --       0.00%
11716   NY                  --       0.00%
11717   NY                  --       0.00%
11718   NY                  --       0.00%
11719   NY                  --       0.00%
11720   NY                  --       0.00%
11721   NY                  --       0.00%
11722   NY        2,269,689.64       0.27%
11724   NY                  --       0.00%
11725   NY                  --       0.00%
11726   NY          684,554.52       0.08%
11727   NY                  --       0.00%
11729   NY                  --       0.00%
11730   NY                  --       0.00%
11731   NY                  --       0.00%
11732   NY                  --       0.00%
11733   NY                  --       0.00%
11735   NY                  --       0.00%
11738   NY          347,507.19       0.04%
11740   NY                  --       0.00%
11741   NY          274,324.98       0.03%
11742   NY                  --       0.00%
11743   NY                  --       0.00%
11746   NY          323,323.44       0.04%
11747   NY                  --       0.00%
11751   NY                  --       0.00%
11752   NY                  --       0.00%
11753   NY                  --       0.00%
11754   NY                  --       0.00%
11755   NY                  --       0.00%
11756   NY                  --       0.00%
11757   NY                  --       0.00%
11758   NY                  --       0.00%
11762   NY                  --       0.00%
11763   NY                  --       0.00%
11764   NY                  --       0.00%
11765   NY                  --       0.00%
11766   NY                  --       0.00%
11767   NY                  --       0.00%
11768   NY                  --       0.00%
11769   NY                  --       0.00%
11770   NY                  --       0.00%
11771   NY                  --       0.00%
11772   NY                  --       0.00%
11776   NY                  --       0.00%
11777   NY                  --       0.00%
11778   NY                  --       0.00%
11779   NY                  --       0.00%
11780   NY                  --       0.00%
11782   NY                  --       0.00%
11783   NY                  --       0.00%
11784   NY                  --       0.00%
11786   NY                  --       0.00%
11787   NY                  --       0.00%
11788   NY                  --       0.00%
11789   NY                  --       0.00%
11790   NY                  --       0.00%
11791   NY                  --       0.00%
11792   NY                  --       0.00%
11793   NY                  --       0.00%
11795   NY          168,005.81       0.02%
11796   NY                  --       0.00%
11797   NY                  --       0.00%
11798   NY                  --       0.00%
11801   NY          390,786.37       0.05%
11803   NY                  --       0.00%
11804   NY                  --       0.00%
11901   NY          319,015.99       0.04%
11930   NY                  --       0.00%
11932   NY                  --       0.00%
11933   NY                  --       0.00%
11934   NY                  --       0.00%
11935   NY                  --       0.00%
11937   NY                  --       0.00%
11939   NY                  --       0.00%
11940   NY                  --       0.00%
11941   NY                  --       0.00%
11942   NY                  --       0.00%
11944   NY                  --       0.00%
11946   NY                  --       0.00%
11947   NY                  --       0.00%
11948   NY                  --       0.00%
11949   NY                  --       0.00%
11950   NY          374,951.83       0.04%
11951   NY                  --       0.00%
11952   NY                  --       0.00%
11953   NY                  --       0.00%
11954   NY                  --       0.00%
11955   NY                  --       0.00%
11956   NY                  --       0.00%
11957   NY                  --       0.00%
11958   NY                  --       0.00%
11959   NY                  --       0.00%
11960   NY                  --       0.00%
11961   NY                  --       0.00%
11962   NY                  --       0.00%
11963   NY                  --       0.00%
11964   NY                  --       0.00%
11965   NY                  --       0.00%
11967   NY                  --       0.00%
11968   NY                  --       0.00%
11970   NY                  --       0.00%
11971   NY                  --       0.00%
11972   NY                  --       0.00%
11975   NY                  --       0.00%
11976   NY                  --       0.00%
11977   NY                  --       0.00%
11978   NY                  --       0.00%
11980   NY                  --       0.00%
12501   NY                  --       0.00%
12507   NY                  --       0.00%
12508   NY                  --       0.00%
12514   NY                  --       0.00%
12522   NY                  --       0.00%
12524   NY                  --       0.00%
12531   NY                  --       0.00%
12533   NY          303,558.54       0.04%
12538   NY                  --       0.00%
12540   NY                  --       0.00%
12545   NY                  --       0.00%
12546   NY                  --       0.00%
12563   NY                  --       0.00%
12564   NY                  --       0.00%
12567   NY                  --       0.00%
12569   NY                  --       0.00%
12570   NY                  --       0.00%
12571   NY          251,659.99       0.03%
12572   NY                  --       0.00%
12578   NY          379,537.95       0.05%
12580   NY                  --       0.00%
12581   NY                  --       0.00%
12582   NY                  --       0.00%
12583   NY                  --       0.00%
12585   NY                  --       0.00%
12590   NY                  --       0.00%
12592   NY                  --       0.00%
12594   NY                  --       0.00%
12601   NY          164,886.44       0.02%
12603   NY                  --       0.00%
13143   NY                  --       0.00%
13146   NY                  --       0.00%
14001   NY                  --       0.00%
14004   NY           91,469.90       0.01%
14005   NY                  --       0.00%
14006   NY                  --       0.00%
14008   NY                  --       0.00%
14012   NY                  --       0.00%
14013   NY                  --       0.00%
14020   NY                  --       0.00%
14025   NY                  --       0.00%
14026   NY                  --       0.00%
14028   NY                  --       0.00%
14030   NY                  --       0.00%
14031   NY                  --       0.00%
14032   NY                  --       0.00%
14033   NY                  --       0.00%
14034   NY                  --       0.00%
14036   NY                  --       0.00%
14040   NY                  --       0.00%
14043   NY                  --       0.00%
14047   NY                  --       0.00%
14051   NY                  --       0.00%
14052   NY                  --       0.00%
14054   NY                  --       0.00%
14055   NY                  --       0.00%
14057   NY                  --       0.00%
14058   NY                  --       0.00%
14059   NY                  --       0.00%
14067   NY                  --       0.00%
14068   NY                  --       0.00%
14069   NY                  --       0.00%
14072   NY                  --       0.00%
14075   NY                  --       0.00%
14080   NY                  --       0.00%
14085   NY                  --       0.00%
14086   NY                  --       0.00%
14091   NY                  --       0.00%
14092   NY                  --       0.00%
14094   NY                  --       0.00%
14102   NY                  --       0.00%
14105   NY                  --       0.00%
14108   NY                  --       0.00%
14111   NY                  --       0.00%
14120   NY                  --       0.00%
14125   NY                  --       0.00%
14127   NY                  --       0.00%
14131   NY                  --       0.00%
14132   NY                  --       0.00%
14134   NY                  --       0.00%
14139   NY                  --       0.00%
14141   NY                  --       0.00%
14143   NY                  --       0.00%
14150   NY                  --       0.00%
14170   NY                  --       0.00%
14172   NY                  --       0.00%
14174   NY          155,667.53       0.02%
14201   NY                  --       0.00%
14202   NY                  --       0.00%
14203   NY                  --       0.00%
14204   NY                  --       0.00%
14206   NY                  --       0.00%
14207   NY                  --       0.00%
14208   NY                  --       0.00%
14209   NY                  --       0.00%
14210   NY                  --       0.00%
14211   NY                  --       0.00%
14212   NY                  --       0.00%
14213   NY                  --       0.00%
14214   NY           55,974.24       0.01%
14215   NY                  --       0.00%
14216   NY                  --       0.00%
14217   NY                  --       0.00%
14218   NY                  --       0.00%
14219   NY                  --       0.00%
14220   NY                  --       0.00%
14221   NY                  --       0.00%
14222   NY                  --       0.00%
14223   NY                  --       0.00%
14224   NY          101,280.64       0.01%
14225   NY                  --       0.00%
14226   NY           64,369.64       0.01%
14227   NY                  --       0.00%
14228   NY                  --       0.00%
14301   NY                  --       0.00%
14303   NY                  --       0.00%
14304   NY                  --       0.00%
14305   NY                  --       0.00%
14414   NY                  --       0.00%
14416   NY                  --       0.00%
14420   NY                  --       0.00%
14422   NY                  --       0.00%
14423   NY                  --       0.00%
14424   NY                  --       0.00%
14425   NY                  --       0.00%
14428   NY                  --       0.00%
14432   NY                  --       0.00%
14433   NY                  --       0.00%
14435   NY                  --       0.00%
14437   NY                  --       0.00%
14445   NY                  --       0.00%
14450   NY                  --       0.00%
14454   NY                  --       0.00%
14456   NY                  --       0.00%
14462   NY                  --       0.00%
14464   NY                  --       0.00%
14466   NY                  --       0.00%
14467   NY                  --       0.00%
14468   NY                  --       0.00%
14469   NY                  --       0.00%
14471   NY                  --       0.00%
14472   NY                  --       0.00%
14475   NY                  --       0.00%
14480   NY                  --       0.00%
14481   NY                  --       0.00%
14482   NY                  --       0.00%
14485   NY                  --       0.00%
14487   NY                  --       0.00%
14489   NY                  --       0.00%
14502   NY                  --       0.00%
14504   NY                  --       0.00%
14505   NY                  --       0.00%
14506   NY                  --       0.00%
14510   NY                  --       0.00%
14512   NY                  --       0.00%
14513   NY                  --       0.00%
14514   NY                  --       0.00%
14516   NY                  --       0.00%
14517   NY                  --       0.00%
14519   NY                  --       0.00%
14522   NY                  --       0.00%
14525   NY                  --       0.00%
14526   NY                  --       0.00%
14532   NY                  --       0.00%
14533   NY                  --       0.00%
14534   NY                  --       0.00%
14543   NY                  --       0.00%
14545   NY                  --       0.00%
14546   NY                  --       0.00%
14548   NY                  --       0.00%
14551   NY                  --       0.00%
14555   NY                  --       0.00%
14559   NY                  --       0.00%
14560   NY                  --       0.00%
14561   NY                  --       0.00%
14564   NY                  --       0.00%
14568   NY                  --       0.00%
14580   NY                  --       0.00%
14585   NY                  --       0.00%
14586   NY                  --       0.00%
14589   NY                  --       0.00%
14590   NY                  --       0.00%
14604   NY                  --       0.00%
14605   NY                  --       0.00%
14606   NY                  --       0.00%
14607   NY                  --       0.00%
14608   NY                  --       0.00%
14609   NY                  --       0.00%
14610   NY                  --       0.00%
14611   NY                  --       0.00%
14612   NY           22,444.02       0.00%
14613   NY           75,931.64       0.01%
14614   NY                  --       0.00%
14615   NY                  --       0.00%
14616   NY                  --       0.00%
14617   NY                  --       0.00%
14618   NY                  --       0.00%
14619   NY                  --       0.00%
14620   NY                  --       0.00%
14621   NY                  --       0.00%
14622   NY                  --       0.00%
14623   NY                  --       0.00%
14624   NY                  --       0.00%
14625   NY                  --       0.00%
14626   NY                  --       0.00%
14836   NY                  --       0.00%
14846   NY                  --       0.00%
16113   PA                  --       0.00%
16114   PA                  --       0.00%
16121   PA                  --       0.00%
16124   PA                  --       0.00%
16125   PA                  --       0.00%
16127   PA          194,891.24       0.02%
16130   PA                  --       0.00%
16133   PA                  --       0.00%
16134   PA                  --       0.00%
16137   PA                  --       0.00%
16145   PA                  --       0.00%
16146   PA                  --       0.00%
16148   PA          259,551.03       0.03%
16150   PA                  --       0.00%
16151   PA                  --       0.00%
16153   PA                  --       0.00%
16154   PA                  --       0.00%
16159   PA                  --       0.00%
16161   PA                  --       0.00%
16311   PA                  --       0.00%
17814   PA                  --       0.00%
17815   PA          154,809.55       0.02%
17820   PA                  --       0.00%
17846   PA                  --       0.00%
17859   PA                  --       0.00%
17878   PA                  --       0.00%
17888   PA                  --       0.00%
17920   PA                  --       0.00%
17927   PA                  --       0.00%
18201   PA           88,917.03       0.01%
18219   PA                  --       0.00%
18221   PA                  --       0.00%
18222   PA                  --       0.00%
18224   PA                  --       0.00%
18225   PA                  --       0.00%
18234   PA                  --       0.00%
18239   PA                  --       0.00%
18246   PA                  --       0.00%
18249   PA                  --       0.00%
18251   PA                  --       0.00%
18256   PA                  --       0.00%
18403   PA                  --       0.00%
18407   PA                  --       0.00%
18411   PA                  --       0.00%
18414   PA                  --       0.00%
18419   PA                  --       0.00%
18420   PA                  --       0.00%
18433   PA                  --       0.00%
18434   PA                  --       0.00%
18444   PA                  --       0.00%
18446   PA                  --       0.00%
18447   PA                  --       0.00%
18452   PA                  --       0.00%
18471   PA                  --       0.00%
18503   PA                  --       0.00%
18504   PA                  --       0.00%
18505   PA                  --       0.00%
18507   PA                  --       0.00%
18508   PA                  --       0.00%
18509   PA                  --       0.00%
18510   PA                  --       0.00%
18512   PA                  --       0.00%
18517   PA                  --       0.00%
18518   PA                  --       0.00%
18519   PA                  --       0.00%
18601   PA                  --       0.00%
18602   PA                  --       0.00%
18603   PA          108,661.94       0.01%
18611   PA                  --       0.00%
18612   PA                  --       0.00%
18615   PA                  --       0.00%
18617   PA                  --       0.00%
18618   PA                  --       0.00%
18621   PA                  --       0.00%
18622   PA                  --       0.00%
18623   PA                  --       0.00%
18625   PA                  --       0.00%
18629   PA                  --       0.00%
18630   PA                  --       0.00%
18631   PA                  --       0.00%
18634   PA                  --       0.00%
18635   PA                  --       0.00%
18636   PA                  --       0.00%
18640   PA                  --       0.00%
18641   PA                  --       0.00%
18642   PA                  --       0.00%
18643   PA                  --       0.00%
18644   PA                  --       0.00%
18651   PA                  --       0.00%
18653   PA                  --       0.00%
18655   PA                  --       0.00%
18656   PA                  --       0.00%
18657   PA          156,347.04       0.02%
18660   PA                  --       0.00%
18661   PA                  --       0.00%
18701   PA                  --       0.00%
18702   PA           61,684.36       0.01%
18704   PA                  --       0.00%
18705   PA                  --       0.00%
18706   PA                  --       0.00%
18707   PA                  --       0.00%
18708   PA                  --       0.00%
18709   PA                  --       0.00%
20001   DC          232,000.00       0.03%
20002   DC          313,748.94       0.04%
20003   DC                  --       0.00%
20004   DC                  --       0.00%
20005   DC                  --       0.00%
20006   DC                  --       0.00%
20007   DC                  --       0.00%
20008   DC                  --       0.00%
20009   DC                  --       0.00%
20010   DC          538,046.27       0.06%
20011   DC          271,193.68       0.03%
20012   DC                  --       0.00%
20015   DC                  --       0.00%
20016   DC                  --       0.00%
20017   DC                  --       0.00%
20018   DC          319,485.22       0.04%
20019   DC                  --       0.00%
20020   DC          341,468.42       0.04%
20024   DC                  --       0.00%
20032   DC                  --       0.00%
20036   DC                  --       0.00%
20037   DC                  --       0.00%
20105   VA          345,484.16       0.04%
20106   VA                  --       0.00%
20109   VA                  --       0.00%
20110   VA          221,383.97       0.03%
20111   VA                  --       0.00%
20112   VA                  --       0.00%
20115   VA                  --       0.00%
20117   VA                  --       0.00%
20118   VA                  --       0.00%
20119   VA                  --       0.00%
20120   VA                  --       0.00%
20121   VA                  --       0.00%
20124   VA                  --       0.00%
20129   VA                  --       0.00%
20130   VA                  --       0.00%
20132   VA          411,588.79       0.05%
20135   VA                  --       0.00%
20136   VA          499,704.74       0.06%
20137   VA                  --       0.00%
20138   VA                  --       0.00%
20139   VA                  --       0.00%
20140   VA                  --       0.00%
20141   VA                  --       0.00%
20143   VA                  --       0.00%
20144   VA                  --       0.00%
20147   VA                  --       0.00%
20148   VA                  --       0.00%
20151   VA          424,279.76       0.05%
20152   VA                  --       0.00%
20155   VA                  --       0.00%
20158   VA                  --       0.00%
20164   VA                  --       0.00%
20165   VA                  --       0.00%
20166   VA                  --       0.00%
20169   VA                  --       0.00%
20170   VA                  --       0.00%
20171   VA                  --       0.00%
20175   VA                  --       0.00%
20176   VA                  --       0.00%
20180   VA                  --       0.00%
20181   VA                  --       0.00%
20184   VA                  --       0.00%
20186   VA          120,793.49       0.01%
20187   VA                  --       0.00%
20190   VA                  --       0.00%
20191   VA                  --       0.00%
20194   VA                  --       0.00%
20197   VA                  --       0.00%
20198   VA                  --       0.00%
20319   DC                  --       0.00%
20332   DC                  --       0.00%
20336   DC                  --       0.00%
20375   DC                  --       0.00%
20601   MD        1,122,234.42       0.13%
20602   MD                  --       0.00%
20603   MD          519,829.64       0.06%
20607   MD                  --       0.00%
20608   MD                  --       0.00%
20611   MD                  --       0.00%
20612   MD                  --       0.00%
20613   MD                  --       0.00%
20615   MD                  --       0.00%
20616   MD                  --       0.00%
20617   MD                  --       0.00%
20623   MD                  --       0.00%
20625   MD                  --       0.00%
20629   MD          224,442.38       0.03%
20632   MD                  --       0.00%
20637   MD                  --       0.00%
20639   MD                  --       0.00%
20640   MD          169,570.70       0.02%
20645   MD                  --       0.00%
20646   MD                  --       0.00%
20657   MD                  --       0.00%
20658   MD                  --       0.00%
20662   MD                  --       0.00%
20664   MD                  --       0.00%
20675   MD                  --       0.00%
20676   MD                  --       0.00%
20677   MD                  --       0.00%
20678   MD                  --       0.00%
20685   MD                  --       0.00%
20688   MD                  --       0.00%
20689   MD                  --       0.00%
20693   MD                  --       0.00%
20695   MD                  --       0.00%
20705   MD          456,717.58       0.05%
20706   MD                  --       0.00%
20707   MD          645,637.46       0.08%
20708   MD                  --       0.00%
20710   MD                  --       0.00%
20712   MD                  --       0.00%
20714   MD                  --       0.00%
20715   MD                  --       0.00%
20716   MD          226,379.55       0.03%
20720   MD          424,000.00       0.05%
20721   MD                  --       0.00%
20722   MD                  --       0.00%
20732   MD                  --       0.00%
20735   MD          659,425.29       0.08%
20736   MD                  --       0.00%
20737   MD          174,586.64       0.02%
20740   MD                  --       0.00%
20743   MD          441,587.57       0.05%
20744   MD          931,134.78       0.11%
20745   MD                  --       0.00%
20746   MD          368,717.28       0.04%
20747   MD          758,076.81       0.09%
20748   MD          561,204.25       0.07%
20754   MD                  --       0.00%
20762   MD                  --       0.00%
20769   MD                  --       0.00%
20770   MD                  --       0.00%
20772   MD        1,809,812.72       0.22%
20774   MD          897,194.08       0.11%
20781   MD          303,641.58       0.04%
20782   MD                  --       0.00%
20783   MD                  --       0.00%
20784   MD                  --       0.00%
20785   MD          343,833.89       0.04%
20812   MD                  --       0.00%
20814   MD                  --       0.00%
20815   MD                  --       0.00%
20816   MD                  --       0.00%
20817   MD                  --       0.00%
20818   MD                  --       0.00%
20832   MD                  --       0.00%
20833   MD                  --       0.00%
20837   MD                  --       0.00%
20838   MD                  --       0.00%
20839   MD                  --       0.00%
20841   MD          671,089.85       0.08%
20842   MD                  --       0.00%
20850   MD          223,373.02       0.03%
20851   MD          155,926.68       0.02%
20852   MD                  --       0.00%
20853   MD          699,916.55       0.08%
20854   MD                  --       0.00%
20855   MD                  --       0.00%
20860   MD                  --       0.00%
20861   MD                  --       0.00%
20862   MD                  --       0.00%
20866   MD                  --       0.00%
20868   MD                  --       0.00%
20871   MD                  --       0.00%
20872   MD                  --       0.00%
20874   MD          403,392.49       0.05%
20876   MD                  --       0.00%
20877   MD          464,000.00       0.06%
20878   MD                  --       0.00%
20879   MD                  --       0.00%
20880   MD                  --       0.00%
20882   MD          529,614.23       0.06%
20886   MD          337,600.00       0.04%
20895   MD          243,800.22       0.03%
20896   MD                  --       0.00%
20901   MD          288,798.89       0.03%
20902   MD                  --       0.00%
20903   MD                  --       0.00%
20904   MD                  --       0.00%
20905   MD                  --       0.00%
20906   MD                  --       0.00%
20910   MD                  --       0.00%
20912   MD                  --       0.00%
21701   MD          276,071.36       0.03%
21702   MD                  --       0.00%
21703   MD           72,928.21       0.01%
21704   MD                  --       0.00%
21710   MD                  --       0.00%
21716   MD          171,748.54       0.02%
21717   MD                  --       0.00%
21718   MD                  --       0.00%
21727   MD                  --       0.00%
21754   MD                  --       0.00%
21755   MD                  --       0.00%
21758   MD          302,352.12       0.04%
21762   MD                  --       0.00%
21769   MD                  --       0.00%
21770   MD                  --       0.00%
21771   MD                  --       0.00%
21773   MD                  --       0.00%
21774   MD                  --       0.00%
21777   MD                  --       0.00%
21778   MD                  --       0.00%
21780   MD                  --       0.00%
21788   MD                  --       0.00%
21790   MD                  --       0.00%
21793   MD                  --       0.00%
21798   MD                  --       0.00%
22003   VA                  --       0.00%
22015   VA          251,816.38       0.03%
22026   VA          239,769.76       0.03%
22027   VA                  --       0.00%
22030   VA                  --       0.00%
22031   VA           59,932.84       0.01%
22032   VA                  --       0.00%
22033   VA                  --       0.00%
22039   VA                  --       0.00%
22041   VA          534,475.72       0.06%
22042   VA                  --       0.00%
22043   VA                  --       0.00%
22044   VA                  --       0.00%
22046   VA                  --       0.00%
22060   VA                  --       0.00%
22066   VA                  --       0.00%
22079   VA                  --       0.00%
22101   VA                  --       0.00%
22102   VA                  --       0.00%
22124   VA                  --       0.00%
22125   VA                  --       0.00%
22134   VA                  --       0.00%
22150   VA                  --       0.00%
22151   VA                  --       0.00%
22152   VA                  --       0.00%
22153   VA                  --       0.00%
22172   VA                  --       0.00%
22180   VA                  --       0.00%
22181   VA                  --       0.00%
22182   VA                  --       0.00%
22191   VA          429,341.72       0.05%
22192   VA        1,198,146.91       0.14%
22193   VA          865,328.91       0.10%
22201   VA                  --       0.00%
22202   VA                  --       0.00%
22203   VA                  --       0.00%
22204   VA                  --       0.00%
22205   VA                  --       0.00%
22206   VA                  --       0.00%
22207   VA                  --       0.00%
22209   VA                  --       0.00%
22211   VA                  --       0.00%
22213   VA                  --       0.00%
22301   VA                  --       0.00%
22302   VA                  --       0.00%
22303   VA                  --       0.00%
22304   VA                  --       0.00%
22305   VA                  --       0.00%
22306   VA                  --       0.00%
22307   VA                  --       0.00%
22308   VA                  --       0.00%
22309   VA          352,000.00       0.04%
22310   VA                  --       0.00%
22311   VA                  --       0.00%
22312   VA                  --       0.00%
22314   VA                  --       0.00%
22315   VA                  --       0.00%
22401   VA                  --       0.00%
22405   VA          263,306.02       0.03%
22406   VA                  --       0.00%
22407   VA                  --       0.00%
22408   VA                  --       0.00%
22448   VA                  --       0.00%
22485   VA          439,743.39       0.05%
22534   VA                  --       0.00%
22553   VA                  --       0.00%
22554   VA          542,021.08       0.06%
22610   VA                  --       0.00%
22611   VA          235,604.27       0.03%
22620   VA                  --       0.00%
22630   VA                  --       0.00%
22639   VA                  --       0.00%
22642   VA                  --       0.00%
22643   VA                  --       0.00%
22646   VA                  --       0.00%
22663   VA                  --       0.00%
22701   VA                  --       0.00%
22712   VA                  --       0.00%
22713   VA                  --       0.00%
22714   VA                  --       0.00%
22718   VA                  --       0.00%
22720   VA                  --       0.00%
22724   VA                  --       0.00%
22726   VA                  --       0.00%
22728   VA                  --       0.00%
22729   VA                  --       0.00%
22733   VA                  --       0.00%
22734   VA                  --       0.00%
22735   VA                  --       0.00%
22736   VA                  --       0.00%
22737   VA                  --       0.00%
22741   VA                  --       0.00%
22742   VA                  --       0.00%
22746   VA                  --       0.00%
22747   VA                  --       0.00%
23009   VA                  --       0.00%
23086   VA                  --       0.00%
23106   VA                  --       0.00%
23181   VA                  --       0.00%
25401   WV                  --       0.00%
25413   WV                  --       0.00%
25414   WV                  --       0.00%
25419   WV                  --       0.00%
25420   WV                  --       0.00%
25421   WV                  --       0.00%
25425   WV                  --       0.00%
25427   WV                  --       0.00%
25428   WV                  --       0.00%
25430   WV                  --       0.00%
25438   WV                  --       0.00%
25441   WV                  --       0.00%
25442   WV                  --       0.00%
25443   WV                  --       0.00%
25446   WV                  --       0.00%
25504   WV                  --       0.00%
25507   WV                  --       0.00%
25510   WV                  --       0.00%
25511   WV                  --       0.00%
25512   WV                  --       0.00%
25514   WV                  --       0.00%
25517   WV                  --       0.00%
25530   WV                  --       0.00%
25534   WV                  --       0.00%
25535   WV                  --       0.00%
25537   WV                  --       0.00%
25541   WV                  --       0.00%
25545   WV                  --       0.00%
25555   WV                  --       0.00%
25559   WV                  --       0.00%
25570   WV                  --       0.00%
25669   WV                  --       0.00%
25699   WV                  --       0.00%
25701   WV                  --       0.00%
25702   WV                  --       0.00%
25703   WV                  --       0.00%
25704   WV                  --       0.00%
25705   WV                  --       0.00%
26003   WV                  --       0.00%
26030   WV                  --       0.00%
26032   WV                  --       0.00%
26033   WV                  --       0.00%
26034   WV                  --       0.00%
26035   WV                  --       0.00%
26036   WV                  --       0.00%
26037   WV                  --       0.00%
26038   WV                  --       0.00%
26039   WV                  --       0.00%
26040   WV                  --       0.00%
26041   WV                  --       0.00%
26047   WV                  --       0.00%
26050   WV                  --       0.00%
26055   WV                  --       0.00%
26056   WV                  --       0.00%
26059   WV                  --       0.00%
26060   WV                  --       0.00%
26062   WV                  --       0.00%
26070   WV                  --       0.00%
26074   WV                  --       0.00%
26075   WV                  --       0.00%
26101   WV                  --       0.00%
26104   WV                  --       0.00%
26105   WV                  --       0.00%
26133   WV                  --       0.00%
26142   WV                  --       0.00%
26150   WV                  --       0.00%
26169   WV                  --       0.00%
26180   WV                  --       0.00%
26181   WV                  --       0.00%
26184   WV                  --       0.00%
26187   WV                  --       0.00%
27013   NC                  --       0.00%
27054   NC                  --       0.00%
27530   NC                  --       0.00%
27534   NC                  --       0.00%
27557   NC                  --       0.00%
27801   NC                  --       0.00%
27803   NC                  --       0.00%
27804   NC                  --       0.00%
27807   NC                  --       0.00%
27809   NC                  --       0.00%
27812   NC                  --       0.00%
27816   NC                  --       0.00%
27819   NC                  --       0.00%
27827   NC                  --       0.00%
27828   NC                  --       0.00%
27829   NC                  --       0.00%
27830   NC                  --       0.00%
27834   NC                  --       0.00%
27837   NC                  --       0.00%
27852   NC                  --       0.00%
27856   NC                  --       0.00%
27858   NC                  --       0.00%
27863   NC                  --       0.00%
27864   NC                  --       0.00%
27878   NC                  --       0.00%
27882   NC                  --       0.00%
27884   NC                  --       0.00%
27886   NC                  --       0.00%
27891   NC                  --       0.00%
28006   NC                  --       0.00%
28012   NC                  --       0.00%
28016   NC                  --       0.00%
28021   NC          135,915.34       0.02%
28023   NC          110,613.84       0.01%
28025   NC                  --       0.00%
28027   NC                  --       0.00%
28031   NC                  --       0.00%
28032   NC                  --       0.00%
28033   NC                  --       0.00%
28034   NC                  --       0.00%
28036   NC                  --       0.00%
28037   NC                  --       0.00%
28052   NC                  --       0.00%
28054   NC                  --       0.00%
28056   NC                  --       0.00%
28071   NC                  --       0.00%
28072   NC                  --       0.00%
28075   NC                  --       0.00%
28077   NC                  --       0.00%
28078   NC                  --       0.00%
28079   NC          212,571.46       0.03%
28080   NC                  --       0.00%
28081   NC                  --       0.00%
28083   NC                  --       0.00%
28088   NC                  --       0.00%
28092   NC                  --       0.00%
28098   NC                  --       0.00%
28101   NC                  --       0.00%
28103   NC                  --       0.00%
28104   NC                  --       0.00%
28105   NC                  --       0.00%
28107   NC                  --       0.00%
28110   NC                  --       0.00%
28112   NC                  --       0.00%
28120   NC                  --       0.00%
28124   NC                  --       0.00%
28125   NC                  --       0.00%
28134   NC                  --       0.00%
28138   NC                  --       0.00%
28144   NC                  --       0.00%
28146   NC                  --       0.00%
28147   NC                  --       0.00%
28159   NC                  --       0.00%
28164   NC                  --       0.00%
28168   NC                  --       0.00%
28173   NC                  --       0.00%
28174   NC                  --       0.00%
28202   NC                  --       0.00%
28203   NC                  --       0.00%
28204   NC                  --       0.00%
28205   NC                  --       0.00%
28206   NC                  --       0.00%
28207   NC                  --       0.00%
28208   NC                  --       0.00%
28209   NC                  --       0.00%
28210   NC                  --       0.00%
28211   NC                  --       0.00%
28212   NC                  --       0.00%
28213   NC                  --       0.00%
28214   NC                  --       0.00%
28215   NC                  --       0.00%
28216   NC                  --       0.00%
28217   NC                  --       0.00%
28223   NC                  --       0.00%
28226   NC                  --       0.00%
28227   NC                  --       0.00%
28262   NC                  --       0.00%
28269   NC                  --       0.00%
28270   NC          186,195.17       0.02%
28273   NC                  --       0.00%
28277   NC                  --       0.00%
28278   NC                  --       0.00%
28333   NC                  --       0.00%
28365   NC                  --       0.00%
28513   NC                  --       0.00%
28530   NC                  --       0.00%
28578   NC                  --       0.00%
28590   NC                  --       0.00%
28601   NC                  --       0.00%
28602   NC           74,723.54       0.01%
29040   SC                  --       0.00%
29062   SC                  --       0.00%
29104   SC                  --       0.00%
29114   SC                  --       0.00%
29125   SC                  --       0.00%
29128   SC                  --       0.00%
29150   SC                  --       0.00%
29152   SC                  --       0.00%
29153   SC                  --       0.00%
29154   SC                  --       0.00%
29161   SC                  --       0.00%
29168   SC                  --       0.00%
29301   SC                  --       0.00%
29302   SC                  --       0.00%
29303   SC           50,292.48       0.01%
29306   SC           75,529.15       0.01%
29307   SC                  --       0.00%
29316   SC                  --       0.00%
29320   SC                  --       0.00%
29322   SC                  --       0.00%
29323   SC                  --       0.00%
29330   SC                  --       0.00%
29334   SC                  --       0.00%
29335   SC                  --       0.00%
29338   SC                  --       0.00%
29340   SC                  --       0.00%
29341   SC                  --       0.00%
29349   SC                  --       0.00%
29356   SC                  --       0.00%
29365   SC                  --       0.00%
29369   SC           69,517.93       0.01%
29372   SC                  --       0.00%
29373   SC                  --       0.00%
29374   SC                  --       0.00%
29375   SC                  --       0.00%
29376   SC                  --       0.00%
29377   SC                  --       0.00%
29385   SC                  --       0.00%
29388   SC                  --       0.00%
29401   SC                  --       0.00%
29403   SC                  --       0.00%
29404   SC                  --       0.00%
29405   SC                  --       0.00%
29406   SC                  --       0.00%
29407   SC                  --       0.00%
29412   SC                  --       0.00%
29414   SC                  --       0.00%
29418   SC                  --       0.00%
29420   SC                  --       0.00%
29423   SC                  --       0.00%
29426   SC                  --       0.00%
29429   SC                  --       0.00%
29430   SC                  --       0.00%
29431   SC                  --       0.00%
29434   SC                  --       0.00%
29436   SC                  --       0.00%
29437   SC                  --       0.00%
29439   SC                  --       0.00%
29445   SC                  --       0.00%
29448   SC                  --       0.00%
29449   SC                  --       0.00%
29450   SC                  --       0.00%
29451   SC                  --       0.00%
29453   SC                  --       0.00%
29455   SC                  --       0.00%
29456   SC                  --       0.00%
29458   SC                  --       0.00%
29461   SC                  --       0.00%
29464   SC                  --       0.00%
29466   SC                  --       0.00%
29468   SC                  --       0.00%
29469   SC                  --       0.00%
29470   SC                  --       0.00%
29471   SC                  --       0.00%
29472   SC                  --       0.00%
29477   SC                  --       0.00%
29479   SC                  --       0.00%
29482   SC                  --       0.00%
29483   SC                  --       0.00%
29485   SC                  --       0.00%
29487   SC                  --       0.00%
29492   SC                  --       0.00%
29501   SC                  --       0.00%
29505   SC                  --       0.00%
29506   SC                  --       0.00%
29511   SC                  --       0.00%
29526   SC                  --       0.00%
29527   SC                  --       0.00%
29530   SC                  --       0.00%
29541   SC           98,800.00       0.01%
29544   SC                  --       0.00%
29545   SC                  --       0.00%
29555   SC                  --       0.00%
29560   SC                  --       0.00%
29566   SC                  --       0.00%
29568   SC                  --       0.00%
29569   SC                  --       0.00%
29572   SC                  --       0.00%
29575   SC                  --       0.00%
29576   SC                  --       0.00%
29577   SC                  --       0.00%
29579   SC                  --       0.00%
29581   SC                  --       0.00%
29582   SC                  --       0.00%
29583   SC                  --       0.00%
29591   SC                  --       0.00%
29601   SC                  --       0.00%
29605   SC                  --       0.00%
29607   SC                  --       0.00%
29609   SC                  --       0.00%
29611   SC           59,228.22       0.01%
29615   SC                  --       0.00%
29617   SC                  --       0.00%
29621   SC                  --       0.00%
29624   SC           56,705.51       0.01%
29625   SC                  --       0.00%
29626   SC                  --       0.00%
29627   SC                  --       0.00%
29630   SC                  --       0.00%
29631   SC                  --       0.00%
29635   SC                  --       0.00%
29640   SC                  --       0.00%
29642   SC                  --       0.00%
29644   SC                  --       0.00%
29650   SC                  --       0.00%
29651   SC                  --       0.00%
29654   SC                  --       0.00%
29655   SC                  --       0.00%
29656   SC                  --       0.00%
29657   SC                  --       0.00%
29661   SC                  --       0.00%
29662   SC                  --       0.00%
29667   SC                  --       0.00%
29669   SC                  --       0.00%
29670   SC                  --       0.00%
29671   SC                  --       0.00%
29673   SC                  --       0.00%
29677   SC                  --       0.00%
29680   SC                  --       0.00%
29681   SC                  --       0.00%
29682   SC                  --       0.00%
29683   SC                  --       0.00%
29684   SC                  --       0.00%
29685   SC                  --       0.00%
29687   SC                  --       0.00%
29688   SC                  --       0.00%
29689   SC                  --       0.00%
29690   SC                  --       0.00%
29697   SC                  --       0.00%
29702   SC                  --       0.00%
29704   SC                  --       0.00%
29708   SC                  --       0.00%
29710   SC                  --       0.00%
29715   SC                  --       0.00%
29717   SC                  --       0.00%
29726   SC                  --       0.00%
29730   SC                  --       0.00%
29732   SC                  --       0.00%
29742   SC                  --       0.00%
29743   SC                  --       0.00%
29745   SC                  --       0.00%
33004   FL          208,149.50       0.02%
33009   FL                  --       0.00%
33010   FL          239,588.80       0.03%
33012   FL          957,466.25       0.11%
33013   FL          188,400.87       0.02%
33014   FL                  --       0.00%
33015   FL          915,262.27       0.11%
33016   FL          560,353.83       0.07%
33018   FL        1,152,484.12       0.14%
33019   FL           71,926.78       0.01%
33020   FL          141,926.79       0.02%
33021   FL          267,049.08       0.03%
33023   FL        1,042,189.68       0.12%
33024   FL          789,073.06       0.09%
33025   FL        1,532,295.74       0.18%
33026   FL                  --       0.00%
33027   FL          310,283.53       0.04%
33028   FL                  --       0.00%
33029   FL          290,000.00       0.03%
33030   FL           35,878.89       0.00%
33031   FL                  --       0.00%
33032   FL        1,399,203.23       0.17%
33033   FL        1,315,231.83       0.16%
33034   FL           42,972.08       0.01%
33035   FL                  --       0.00%
33054   FL          673,634.96       0.08%
33055   FL          107,743.65       0.01%
33056   FL          921,289.52       0.11%
33060   FL          884,043.97       0.11%
33062   FL          719,487.18       0.09%
33063   FL          625,147.43       0.07%
33064   FL        1,693,585.04       0.20%
33065   FL          557,878.99       0.07%
33066   FL          177,424.59       0.02%
33067   FL          188,894.15       0.02%
33068   FL        1,329,130.09       0.16%
33069   FL          280,474.14       0.03%
33071   FL          190,033.26       0.02%
33073   FL                  --       0.00%
33076   FL          463,192.70       0.06%
33109   FL                  --       0.00%
33122   FL                  --       0.00%
33125   FL          231,636.94       0.03%
33126   FL          251,740.63       0.03%
33127   FL           61,929.20       0.01%
33128   FL                  --       0.00%
33129   FL                  --       0.00%
33130   FL                  --       0.00%
33131   FL                  --       0.00%
33132   FL                  --       0.00%
33133   FL        1,035,083.50       0.12%
33134   FL          764,504.30       0.09%
33135   FL          200,604.09       0.02%
33136   FL                  --       0.00%
33137   FL                  --       0.00%
33138   FL          204,214.64       0.02%
33139   FL          316,000.00       0.04%
33140   FL                  --       0.00%
33141   FL          371,404.81       0.04%
33142   FL          892,183.20       0.11%
33143   FL                  --       0.00%
33144   FL          236,715.09       0.03%
33145   FL          415,332.88       0.05%
33146   FL          259,876.64       0.03%
33147   FL          387,716.19       0.05%
33149   FL                  --       0.00%
33150   FL          692,623.67       0.08%
33154   FL          171,142.23       0.02%
33155   FL          439,873.59       0.05%
33156   FL                  --       0.00%
33157   FL          258,793.77       0.03%
33158   FL                  --       0.00%
33160   FL          224,590.37       0.03%
33161   FL          423,977.35       0.05%
33162   FL                  --       0.00%
33165   FL          656,697.19       0.08%
33166   FL           31,968.61       0.00%
33167   FL          301,866.05       0.04%
33168   FL        1,215,326.97       0.15%
33169   FL        1,005,742.81       0.12%
33170   FL          550,153.45       0.07%
33172   FL          273,114.02       0.03%
33173   FL           71,921.26       0.01%
33174   FL          347,231.58       0.04%
33175   FL          343,584.36       0.04%
33176   FL          639,151.79       0.08%
33177   FL          806,738.74       0.10%
33178   FL          957,276.08       0.11%
33179   FL          117,805.62       0.01%
33180   FL                  --       0.00%
33181   FL                  --       0.00%
33182   FL          259,356.66       0.03%
33183   FL          704,000.00       0.08%
33184   FL          374,507.29       0.04%
33185   FL                  --       0.00%
33186   FL          376,556.71       0.05%
33187   FL                  --       0.00%
33189   FL          220,442.01       0.03%
33190   FL          468,000.00       0.06%
33193   FL        1,136,804.54       0.14%
33194   FL                  --       0.00%
33196   FL          247,627.04       0.03%
33301   FL                  --       0.00%
33304   FL           49,305.98       0.01%
33305   FL                  --       0.00%
33306   FL                  --       0.00%
33308   FL                  --       0.00%
33309   FL          383,827.60       0.05%
33311   FL        1,318,573.31       0.16%
33312   FL          641,077.60       0.08%
33313   FL        1,105,551.25       0.13%
33314   FL          304,149.61       0.04%
33315   FL                  --       0.00%
33316   FL                  --       0.00%
33317   FL          514,744.54       0.06%
33319   FL          426,436.97       0.05%
33321   FL                  --       0.00%
33322   FL           62,916.50       0.01%
33323   FL          200,800.00       0.02%
33324   FL          534,361.39       0.06%
33325   FL                  --       0.00%
33326   FL          315,900.00       0.04%
33327   FL          649,621.92       0.08%
33328   FL          238,373.35       0.03%
33330   FL                  --       0.00%
33331   FL                  --       0.00%
33332   FL                  --       0.00%
33334   FL          390,296.22       0.05%
33351   FL          244,508.40       0.03%
33388   FL                  --       0.00%
33394   FL                  --       0.00%
33441   FL          446,706.17       0.05%
33442   FL          315,687.90       0.04%
33455   FL          394,033.01       0.05%
33946   FL          615,292.26       0.07%
33947   FL                  --       0.00%
33948   FL                  --       0.00%
33950   FL          782,683.63       0.09%
33952   FL          126,645.66       0.02%
33953   FL                  --       0.00%
33954   FL                  --       0.00%
33955   FL                  --       0.00%
33980   FL                  --       0.00%
33981   FL                  --       0.00%
33982   FL          132,984.99       0.02%
33983   FL          204,234.80       0.02%
34102   FL                  --       0.00%
34103   FL                  --       0.00%
34104   FL          280,155.43       0.03%
34105   FL                  --       0.00%
34108   FL          345,000.00       0.04%
34109   FL                  --       0.00%
34110   FL                  --       0.00%
34112   FL          295,886.07       0.04%
34113   FL          566,283.17       0.07%
34114   FL                  --       0.00%
34116   FL        1,391,179.83       0.17%
34117   FL                  --       0.00%
34119   FL          393,164.37       0.05%
34120   FL          684,367.07       0.08%
34137   FL                  --       0.00%
34138   FL                  --       0.00%
34139   FL                  --       0.00%
34141   FL                  --       0.00%
34142   FL                  --       0.00%
34145   FL                  --       0.00%
34945   FL                  --       0.00%
34946   FL          197,232.13       0.02%
34947   FL                  --       0.00%
34949   FL                  --       0.00%
34950   FL                  --       0.00%
34951   FL          142,894.84       0.02%
34952   FL          316,450.15       0.04%
34953   FL        1,535,028.81       0.18%
34956   FL                  --       0.00%
34957   FL                  --       0.00%
34981   FL                  --       0.00%
34982   FL                  --       0.00%
34983   FL          387,400.68       0.05%
34984   FL                  --       0.00%
34986   FL          699,625.22       0.08%
34987   FL                  --       0.00%
34990   FL                  --       0.00%
34994   FL                  --       0.00%
34996   FL                  --       0.00%
34997   FL           62,650.40       0.01%
37040   TN                  --       0.00%
37042   TN          249,953.03       0.03%
37043   TN                  --       0.00%
37052   TN                  --       0.00%
37142   TN                  --       0.00%
37171   TN                  --       0.00%
37191   TN                  --       0.00%
38002   TN          308,292.14       0.04%
38004   TN          160,470.42       0.02%
38011   TN                  --       0.00%
38015   TN                  --       0.00%
38017   TN                  --       0.00%
38018   TN          310,839.66       0.04%
38019   TN                  --       0.00%
38023   TN                  --       0.00%
38028   TN                  --       0.00%
38036   TN                  --       0.00%
38046   TN                  --       0.00%
38049   TN                  --       0.00%
38053   TN          160,842.64       0.02%
38057   TN                  --       0.00%
38058   TN                  --       0.00%
38060   TN                  --       0.00%
38066   TN                  --       0.00%
38068   TN                  --       0.00%
38076   TN                  --       0.00%
38103   TN          153,806.90       0.02%
38104   TN                  --       0.00%
38105   TN                  --       0.00%
38106   TN                  --       0.00%
38107   TN                  --       0.00%
38108   TN                  --       0.00%
38109   TN           57,880.97       0.01%
38111   TN           52,793.61       0.01%
38112   TN          256,487.76       0.03%
38114   TN                  --       0.00%
38115   TN                  --       0.00%
38116   TN          100,622.92       0.01%
38117   TN                  --       0.00%
38118   TN           76,435.56       0.01%
38119   TN          139,775.97       0.02%
38120   TN                  --       0.00%
38122   TN                  --       0.00%
38125   TN          166,157.15       0.02%
38126   TN                  --       0.00%
38127   TN           57,555.38       0.01%
38128   TN          277,147.29       0.03%
38131   TN                  --       0.00%
38132   TN                  --       0.00%
38133   TN          102,421.63       0.01%
38134   TN           69,577.54       0.01%
38135   TN                  --       0.00%
38138   TN                  --       0.00%
38139   TN                  --       0.00%
38141   TN          102,426.40       0.01%
38157   TN                  --       0.00%
38301   TN          104,778.29       0.01%
38305   TN          287,791.74       0.03%
38313   TN                  --       0.00%
38332   TN                  --       0.00%
38340   TN          112,100.28       0.01%
38347   TN                  --       0.00%
38352   TN                  --       0.00%
38356   TN                  --       0.00%
38362   TN                  --       0.00%
38366   TN          107,867.01       0.01%
38378   TN                  --       0.00%
38391   TN                  --       0.00%
38392   TN                  --       0.00%
38632   MS                  --       0.00%
38637   MS                  --       0.00%
38641   MS                  --       0.00%
38651   MS                  --       0.00%
38654   MS                  --       0.00%
38671   MS                  --       0.00%
38672   MS                  --       0.00%
38680   MS                  --       0.00%
39041   MS                  --       0.00%
39042   MS           43,542.22       0.01%
39045   MS                  --       0.00%
39046   MS                  --       0.00%
39047   MS          163,366.28       0.02%
39056   MS                  --       0.00%
39060   MS                  --       0.00%
39066   MS                  --       0.00%
39071   MS                  --       0.00%
39073   MS                  --       0.00%
39110   MS                  --       0.00%
39145   MS                  --       0.00%
39148   MS                  --       0.00%
39151   MS                  --       0.00%
39154   MS                  --       0.00%
39157   MS                  --       0.00%
39161   MS                  --       0.00%
39170   MS                  --       0.00%
39174   MS                  --       0.00%
39175   MS                  --       0.00%
39201   MS                  --       0.00%
39202   MS                  --       0.00%
39203   MS                  --       0.00%
39204   MS                  --       0.00%
39206   MS                  --       0.00%
39208   MS                  --       0.00%
39209   MS           71,882.36       0.01%
39210   MS                  --       0.00%
39211   MS                  --       0.00%
39212   MS                  --       0.00%
39213   MS                  --       0.00%
39216   MS                  --       0.00%
39218   MS                  --       0.00%
39269   MS                  --       0.00%
39401   MS                  --       0.00%
39402   MS                  --       0.00%
39425   MS                  --       0.00%
39455   MS                  --       0.00%
39465   MS                  --       0.00%
39475   MS                  --       0.00%
39482   MS                  --       0.00%
39501   MS                  --       0.00%
39503   MS                  --       0.00%
39507   MS                  --       0.00%
39520   MS                  --       0.00%
39525   MS                  --       0.00%
39530   MS                  --       0.00%
39531   MS                  --       0.00%
39532   MS                  --       0.00%
39553   MS                  --       0.00%
39556   MS                  --       0.00%
39562   MS                  --       0.00%
39563   MS                  --       0.00%
39564   MS                  --       0.00%
39565   MS                  --       0.00%
39567   MS                  --       0.00%
39572   MS                  --       0.00%
39576   MS                  --       0.00%
39581   MS                  --       0.00%
41005   KY          116,285.67       0.01%
41042   KY                  --       0.00%
41048   KY                  --       0.00%
41080   KY                  --       0.00%
41091   KY                  --       0.00%
41092   KY                  --       0.00%
41094   KY                  --       0.00%
41101   KY                  --       0.00%
41102   KY                  --       0.00%
41121   KY                  --       0.00%
41129   KY                  --       0.00%
41132   KY                  --       0.00%
41139   KY                  --       0.00%
41142   KY                  --       0.00%
41143   KY                  --       0.00%
41144   KY                  --       0.00%
41146   KY                  --       0.00%
41164   KY                  --       0.00%
41168   KY                  --       0.00%
41169   KY                  --       0.00%
41174   KY                  --       0.00%
41175   KY                  --       0.00%
41183   KY                  --       0.00%
42217   KY                  --       0.00%
42223   KY                  --       0.00%
42232   KY                  --       0.00%
42236   KY                  --       0.00%
42240   KY                  --       0.00%
42254   KY                  --       0.00%
42262   KY                  --       0.00%
42266   KY                  --       0.00%
42406   KY                  --       0.00%
42420   KY                  --       0.00%
42451   KY                  --       0.00%
42452   KY                  --       0.00%
42457   KY                  --       0.00%
42458   KY                  --       0.00%
43001   OH                  --       0.00%
43002   OH                  --       0.00%
43003   OH                  --       0.00%
43004   OH          139,805.69       0.02%
43008   OH                  --       0.00%
43013   OH                  --       0.00%
43015   OH                  --       0.00%
43016   OH                  --       0.00%
43017   OH                  --       0.00%
43018   OH                  --       0.00%
43021   OH                  --       0.00%
43023   OH                  --       0.00%
43025   OH                  --       0.00%
43026   OH                  --       0.00%
43031   OH                  --       0.00%
43032   OH                  --       0.00%
43033   OH                  --       0.00%
43035   OH                  --       0.00%
43046   OH                  --       0.00%
43054   OH                  --       0.00%
43055   OH           89,843.52       0.01%
43056   OH                  --       0.00%
43061   OH                  --       0.00%
43062   OH                  --       0.00%
43064   OH                  --       0.00%
43065   OH                  --       0.00%
43066   OH                  --       0.00%
43068   OH                  --       0.00%
43071   OH                  --       0.00%
43074   OH                  --       0.00%
43080   OH                  --       0.00%
43081   OH                  --       0.00%
43082   OH                  --       0.00%
43085   OH                  --       0.00%
43102   OH                  --       0.00%
43103   OH                  --       0.00%
43105   OH                  --       0.00%
43107   OH                  --       0.00%
43109   OH                  --       0.00%
43110   OH                  --       0.00%
43112   OH                  --       0.00%
43113   OH                  --       0.00%
43116   OH                  --       0.00%
43119   OH                  --       0.00%
43123   OH          221,353.66       0.03%
43125   OH                  --       0.00%
43126   OH                  --       0.00%
43130   OH                  --       0.00%
43136   OH                  --       0.00%
43137   OH                  --       0.00%
43140   OH                  --       0.00%
43143   OH                  --       0.00%
43145   OH                  --       0.00%
43146   OH                  --       0.00%
43147   OH                  --       0.00%
43148   OH                  --       0.00%
43150   OH                  --       0.00%
43151   OH                  --       0.00%
43153   OH                  --       0.00%
43154   OH                  --       0.00%
43155   OH                  --       0.00%
43156   OH                  --       0.00%
43157   OH           55,899.43       0.01%
43162   OH          103,758.56       0.01%
43164   OH                  --       0.00%
43201   OH                  --       0.00%
43202   OH                  --       0.00%
43203   OH                  --       0.00%
43204   OH                  --       0.00%
43205   OH                  --       0.00%
43206   OH           86,271.49       0.01%
43207   OH           93,435.00       0.01%
43209   OH          186,826.65       0.02%
43210   OH                  --       0.00%
43211   OH                  --       0.00%
43212   OH                  --       0.00%
43213   OH                  --       0.00%
43214   OH                  --       0.00%
43215   OH                  --       0.00%
43217   OH                  --       0.00%
43219   OH                  --       0.00%
43220   OH                  --       0.00%
43221   OH                  --       0.00%
43222   OH                  --       0.00%
43223   OH                  --       0.00%
43224   OH                  --       0.00%
43227   OH                  --       0.00%
43228   OH                  --       0.00%
43229   OH           31,951.60       0.00%
43230   OH                  --       0.00%
43231   OH                  --       0.00%
43232   OH                  --       0.00%
43235   OH                  --       0.00%
43240   OH                  --       0.00%
43402   OH                  --       0.00%
43406   OH                  --       0.00%
43413   OH                  --       0.00%
43437   OH                  --       0.00%
43443   OH                  --       0.00%
43447   OH                  --       0.00%
43450   OH                  --       0.00%
43451   OH                  --       0.00%
43457   OH                  --       0.00%
43460   OH                  --       0.00%
43462   OH                  --       0.00%
43465   OH                  --       0.00%
43466   OH                  --       0.00%
43467   OH                  --       0.00%
43502   OH                  --       0.00%
43504   OH                  --       0.00%
43511   OH                  --       0.00%
43515   OH                  --       0.00%
43521   OH                  --       0.00%
43522   OH                  --       0.00%
43525   OH                  --       0.00%
43528   OH                  --       0.00%
43529   OH                  --       0.00%
43533   OH                  --       0.00%
43537   OH                  --       0.00%
43540   OH                  --       0.00%
43541   OH                  --       0.00%
43542   OH                  --       0.00%
43547   OH                  --       0.00%
43551   OH                  --       0.00%
43553   OH                  --       0.00%
43558   OH                  --       0.00%
43560   OH                  --       0.00%
43565   OH                  --       0.00%
43566   OH                  --       0.00%
43567   OH                  --       0.00%
43569   OH                  --       0.00%
43571   OH                  --       0.00%
43602   OH                  --       0.00%
43604   OH                  --       0.00%
43605   OH                  --       0.00%
43606   OH                  --       0.00%
43607   OH                  --       0.00%
43608   OH                  --       0.00%
43609   OH                  --       0.00%
43610   OH                  --       0.00%
43611   OH                  --       0.00%
43612   OH           69,819.59       0.01%
43613   OH                  --       0.00%
43614   OH                  --       0.00%
43615   OH                  --       0.00%
43616   OH                  --       0.00%
43617   OH                  --       0.00%
43618   OH                  --       0.00%
43619   OH                  --       0.00%
43620   OH                  --       0.00%
43623   OH                  --       0.00%
43624   OH                  --       0.00%
43713   OH                  --       0.00%
43718   OH                  --       0.00%
43719   OH                  --       0.00%
43721   OH                  --       0.00%
43740   OH                  --       0.00%
43901   OH                  --       0.00%
43902   OH                  --       0.00%
43903   OH                  --       0.00%
43905   OH                  --       0.00%
43906   OH                  --       0.00%
43908   OH                  --       0.00%
43909   OH                  --       0.00%
43910   OH                  --       0.00%
43912   OH                  --       0.00%
43913   OH                  --       0.00%
43917   OH                  --       0.00%
43920   OH                  --       0.00%
43925   OH                  --       0.00%
43926   OH                  --       0.00%
43927   OH                  --       0.00%
43928   OH                  --       0.00%
43930   OH                  --       0.00%
43932   OH                  --       0.00%
43933   OH                  --       0.00%
43934   OH                  --       0.00%
43935   OH                  --       0.00%
43938   OH                  --       0.00%
43939   OH                  --       0.00%
43940   OH                  --       0.00%
43942   OH                  --       0.00%
43943   OH                  --       0.00%
43944   OH                  --       0.00%
43945   OH                  --       0.00%
43947   OH                  --       0.00%
43948   OH                  --       0.00%
43950   OH                  --       0.00%
43951   OH                  --       0.00%
43952   OH                  --       0.00%
43953   OH                  --       0.00%
43961   OH                  --       0.00%
43962   OH                  --       0.00%
43963   OH                  --       0.00%
43964   OH                  --       0.00%
43967   OH                  --       0.00%
43968   OH                  --       0.00%
43971   OH                  --       0.00%
43972   OH                  --       0.00%
43977   OH                  --       0.00%
43983   OH                  --       0.00%
44001   OH                  --       0.00%
44003   OH                  --       0.00%
44004   OH           75,945.19       0.01%
44010   OH                  --       0.00%
44011   OH                  --       0.00%
44012   OH                  --       0.00%
44017   OH                  --       0.00%
44021   OH                  --       0.00%
44022   OH                  --       0.00%
44023   OH                  --       0.00%
44024   OH                  --       0.00%
44026   OH                  --       0.00%
44028   OH                  --       0.00%
44030   OH                  --       0.00%
44032   OH                  --       0.00%
44035   OH          150,889.03       0.02%
44039   OH                  --       0.00%
44040   OH                  --       0.00%
44041   OH                  --       0.00%
44044   OH                  --       0.00%
44046   OH                  --       0.00%
44047   OH                  --       0.00%
44048   OH                  --       0.00%
44049   OH           76,402.43       0.01%
44050   OH                  --       0.00%
44052   OH          126,234.20       0.02%
44053   OH                  --       0.00%
44054   OH                  --       0.00%
44055   OH                  --       0.00%
44056   OH                  --       0.00%
44057   OH                  --       0.00%
44060   OH                  --       0.00%
44062   OH                  --       0.00%
44064   OH                  --       0.00%
44065   OH                  --       0.00%
44067   OH                  --       0.00%
44070   OH                  --       0.00%
44072   OH                  --       0.00%
44074   OH                  --       0.00%
44076   OH                  --       0.00%
44077   OH                  --       0.00%
44080   OH                  --       0.00%
44081   OH                  --       0.00%
44082   OH                  --       0.00%
44084   OH                  --       0.00%
44085   OH                  --       0.00%
44086   OH                  --       0.00%
44087   OH                  --       0.00%
44090   OH                  --       0.00%
44092   OH                  --       0.00%
44093   OH                  --       0.00%
44094   OH                  --       0.00%
44095   OH           96,175.50       0.01%
44099   OH                  --       0.00%
44102   OH           63,982.19       0.01%
44103   OH                  --       0.00%
44104   OH                  --       0.00%
44105   OH                  --       0.00%
44106   OH                  --       0.00%
44107   OH                  --       0.00%
44108   OH                  --       0.00%
44109   OH                  --       0.00%
44110   OH                  --       0.00%
44111   OH                  --       0.00%
44112   OH                  --       0.00%
44113   OH                  --       0.00%
44114   OH                  --       0.00%
44115   OH                  --       0.00%
44116   OH                  --       0.00%
44117   OH                  --       0.00%
44118   OH                  --       0.00%
44119   OH                  --       0.00%
44120   OH           70,397.91       0.01%
44121   OH                  --       0.00%
44122   OH                  --       0.00%
44123   OH           47,465.96       0.01%
44124   OH                  --       0.00%
44125   OH                  --       0.00%
44126   OH                  --       0.00%
44127   OH                  --       0.00%
44128   OH                  --       0.00%
44129   OH          128,000.00       0.02%
44130   OH          111,956.74       0.01%
44131   OH                  --       0.00%
44132   OH                  --       0.00%
44133   OH                  --       0.00%
44134   OH                  --       0.00%
44135   OH                  --       0.00%
44136   OH                  --       0.00%
44137   OH                  --       0.00%
44138   OH                  --       0.00%
44139   OH                  --       0.00%
44140   OH                  --       0.00%
44141   OH                  --       0.00%
44142   OH                  --       0.00%
44143   OH                  --       0.00%
44144   OH                  --       0.00%
44145   OH                  --       0.00%
44146   OH                  --       0.00%
44147   OH                  --       0.00%
44201   OH                  --       0.00%
44202   OH                  --       0.00%
44203   OH           57,714.18       0.01%
44212   OH                  --       0.00%
44215   OH                  --       0.00%
44216   OH                  --       0.00%
44221   OH                  --       0.00%
44223   OH                  --       0.00%
44224   OH                  --       0.00%
44231   OH                  --       0.00%
44233   OH                  --       0.00%
44234   OH                  --       0.00%
44235   OH                  --       0.00%
44236   OH                  --       0.00%
44240   OH                  --       0.00%
44241   OH                  --       0.00%
44243   OH                  --       0.00%
44250   OH                  --       0.00%
44251   OH                  --       0.00%
44253   OH                  --       0.00%
44254   OH                  --       0.00%
44255   OH                  --       0.00%
44256   OH                  --       0.00%
44260   OH                  --       0.00%
44262   OH                  --       0.00%
44264   OH                  --       0.00%
44266   OH                  --       0.00%
44272   OH                  --       0.00%
44273   OH                  --       0.00%
44275   OH                  --       0.00%
44278   OH                  --       0.00%
44280   OH                  --       0.00%
44281   OH                  --       0.00%
44286   OH                  --       0.00%
44288   OH                  --       0.00%
44301   OH                  --       0.00%
44302   OH                  --       0.00%
44303   OH                  --       0.00%
44304   OH           59,452.50       0.01%
44305   OH                  --       0.00%
44306   OH                  --       0.00%
44307   OH                  --       0.00%
44308   OH                  --       0.00%
44310   OH                  --       0.00%
44311   OH                  --       0.00%
44312   OH                  --       0.00%
44313   OH                  --       0.00%
44314   OH           71,738.75       0.01%
44319   OH                  --       0.00%
44320   OH           84,457.10       0.01%
44321   OH                  --       0.00%
44322   OH                  --       0.00%
44333   OH                  --       0.00%
44401   OH                  --       0.00%
44402   OH                  --       0.00%
44403   OH                  --       0.00%
44404   OH                  --       0.00%
44405   OH                  --       0.00%
44406   OH                  --       0.00%
44408   OH                  --       0.00%
44410   OH                  --       0.00%
44411   OH                  --       0.00%
44412   OH                  --       0.00%
44413   OH                  --       0.00%
44417   OH                  --       0.00%
44418   OH                  --       0.00%
44420   OH          197,877.56       0.02%
44423   OH                  --       0.00%
44425   OH                  --       0.00%
44427   OH                  --       0.00%
44428   OH                  --       0.00%
44429   OH                  --       0.00%
44430   OH                  --       0.00%
44431   OH                  --       0.00%
44432   OH                  --       0.00%
44436   OH                  --       0.00%
44437   OH                  --       0.00%
44438   OH                  --       0.00%
44440   OH                  --       0.00%
44441   OH                  --       0.00%
44442   OH                  --       0.00%
44443   OH                  --       0.00%
44444   OH                  --       0.00%
44445   OH           61,659.87       0.01%
44446   OH                  --       0.00%
44449   OH                  --       0.00%
44450   OH                  --       0.00%
44451   OH                  --       0.00%
44452   OH                  --       0.00%
44454   OH                  --       0.00%
44455   OH                  --       0.00%
44460   OH           75,881.47       0.01%
44470   OH                  --       0.00%
44471   OH           61,907.78       0.01%
44473   OH                  --       0.00%
44481   OH                  --       0.00%
44483   OH                  --       0.00%
44484   OH                  --       0.00%
44485   OH                  --       0.00%
44490   OH                  --       0.00%
44491   OH                  --       0.00%
44502   OH                  --       0.00%
44503   OH                  --       0.00%
44504   OH                  --       0.00%
44505   OH                  --       0.00%
44506   OH                  --       0.00%
44507   OH                  --       0.00%
44509   OH                  --       0.00%
44510   OH                  --       0.00%
44511   OH                  --       0.00%
44512   OH                  --       0.00%
44514   OH                  --       0.00%
44515   OH                  --       0.00%
44601   OH                  --       0.00%
44608   OH                  --       0.00%
44609   OH                  --       0.00%
44613   OH                  --       0.00%
44614   OH                  --       0.00%
44615   OH                  --       0.00%
44619   OH                  --       0.00%
44620   OH                  --       0.00%
44625   OH                  --       0.00%
44626   OH                  --       0.00%
44632   OH                  --       0.00%
44634   OH                  --       0.00%
44640   OH                  --       0.00%
44641   OH                  --       0.00%
44643   OH                  --       0.00%
44644   OH                  --       0.00%
44646   OH                  --       0.00%
44647   OH                  --       0.00%
44651   OH                  --       0.00%
44657   OH                  --       0.00%
44662   OH                  --       0.00%
44666   OH                  --       0.00%
44669   OH                  --       0.00%
44670   OH                  --       0.00%
44672   OH                  --       0.00%
44675   OH                  --       0.00%
44685   OH                  --       0.00%
44688   OH                  --       0.00%
44689   OH                  --       0.00%
44702   OH                  --       0.00%
44703   OH                  --       0.00%
44704   OH                  --       0.00%
44705   OH                  --       0.00%
44706   OH                  --       0.00%
44707   OH                  --       0.00%
44708   OH                  --       0.00%
44709   OH                  --       0.00%
44710   OH                  --       0.00%
44714   OH                  --       0.00%
44718   OH                  --       0.00%
44720   OH                  --       0.00%
44721   OH                  --       0.00%
44730   OH                  --       0.00%
44813   OH                  --       0.00%
44817   OH                  --       0.00%
44820   OH                  --       0.00%
44822   OH                  --       0.00%
44825   OH                  --       0.00%
44827   OH                  --       0.00%
44833   OH                  --       0.00%
44843   OH                  --       0.00%
44854   OH                  --       0.00%
44856   OH                  --       0.00%
44860   OH                  --       0.00%
44875   OH                  --       0.00%
44878   OH                  --       0.00%
44887   OH                  --       0.00%
44902   OH                  --       0.00%
44903   OH                  --       0.00%
44904   OH                  --       0.00%
44905   OH                  --       0.00%
44906   OH                  --       0.00%
44907   OH          108,698.71       0.01%
45001   OH                  --       0.00%
45002   OH                  --       0.00%
45005   OH                  --       0.00%
45011   OH                  --       0.00%
45011   OH                  --       0.00%
45013   OH                  --       0.00%
45013   OH                  --       0.00%
45015   OH                  --       0.00%
45015   OH                  --       0.00%
45030   OH                  --       0.00%
45032   OH                  --       0.00%
45033   OH                  --       0.00%
45034   OH                  --       0.00%
45036   OH                  --       0.00%
45039   OH                  --       0.00%
45040   OH                  --       0.00%
45041   OH                  --       0.00%
45052   OH                  --       0.00%
45054   OH                  --       0.00%
45065   OH                  --       0.00%
45066   OH          272,000.00       0.03%
45068   OH                  --       0.00%
45101   OH                  --       0.00%
45102   OH          146,757.39       0.02%
45103   OH                  --       0.00%
45106   OH                  --       0.00%
45111   OH                  --       0.00%
45112   OH                  --       0.00%
45115   OH                  --       0.00%
45118   OH                  --       0.00%
45120   OH                  --       0.00%
45121   OH                  --       0.00%
45122   OH                  --       0.00%
45130   OH                  --       0.00%
45131   OH                  --       0.00%
45140   OH           91,129.45       0.01%
45150   OH          119,370.41       0.01%
45152   OH                  --       0.00%
45153   OH                  --       0.00%
45154   OH          124,346.62       0.01%
45156   OH                  --       0.00%
45157   OH                  --       0.00%
45160   OH                  --       0.00%
45162   OH                  --       0.00%
45167   OH                  --       0.00%
45168   OH                  --       0.00%
45171   OH                  --       0.00%
45174   OH                  --       0.00%
45176   OH                  --       0.00%
45202   OH                  --       0.00%
45203   OH                  --       0.00%
45204   OH                  --       0.00%
45205   OH                  --       0.00%
45206   OH                  --       0.00%
45207   OH                  --       0.00%
45208   OH                  --       0.00%
45209   OH                  --       0.00%
45210   OH                  --       0.00%
45211   OH                  --       0.00%
45212   OH                  --       0.00%
45213   OH                  --       0.00%
45214   OH                  --       0.00%
45215   OH                  --       0.00%
45216   OH          101,804.85       0.01%
45217   OH                  --       0.00%
45218   OH                  --       0.00%
45219   OH                  --       0.00%
45220   OH                  --       0.00%
45223   OH           72,026.78       0.01%
45224   OH          147,365.93       0.02%
45225   OH                  --       0.00%
45226   OH                  --       0.00%
45227   OH                  --       0.00%
45229   OH                  --       0.00%
45230   OH                  --       0.00%
45231   OH                  --       0.00%
45232   OH                  --       0.00%
45233   OH                  --       0.00%
45236   OH                  --       0.00%
45237   OH                  --       0.00%
45238   OH          129,248.05       0.02%
45239   OH           85,265.34       0.01%
45240   OH                  --       0.00%
45241   OH                  --       0.00%
45242   OH          244,986.66       0.03%
45243   OH                  --       0.00%
45244   OH                  --       0.00%
45245   OH                  --       0.00%
45246   OH                  --       0.00%
45247   OH                  --       0.00%
45248   OH                  --       0.00%
45249   OH                  --       0.00%
45251   OH                  --       0.00%
45252   OH                  --       0.00%
45255   OH                  --       0.00%
45301   OH                  --       0.00%
45305   OH                  --       0.00%
45307   OH                  --       0.00%
45308   OH                  --       0.00%
45309   OH                  --       0.00%
45312   OH                  --       0.00%
45314   OH                  --       0.00%
45315   OH                  --       0.00%
45316   OH                  --       0.00%
45317   OH                  --       0.00%
45318   OH                  --       0.00%
45322   OH                  --       0.00%
45324   OH                  --       0.00%
45325   OH                  --       0.00%
45326   OH                  --       0.00%
45327   OH                  --       0.00%
45335   OH                  --       0.00%
45337   OH                  --       0.00%
45339   OH                  --       0.00%
45342   OH                  --       0.00%
45345   OH                  --       0.00%
45354   OH                  --       0.00%
45356   OH          141,044.09       0.02%
45359   OH                  --       0.00%
45370   OH                  --       0.00%
45371   OH                  --       0.00%
45373   OH                  --       0.00%
45377   OH                  --       0.00%
45383   OH                  --       0.00%
45384   OH                  --       0.00%
45385   OH                  --       0.00%
45387   OH                  --       0.00%
45402   OH                  --       0.00%
45403   OH                  --       0.00%
45404   OH                  --       0.00%
45405   OH                  --       0.00%
45406   OH                  --       0.00%
45407   OH                  --       0.00%
45408   OH                  --       0.00%
45409   OH                  --       0.00%
45410   OH                  --       0.00%
45414   OH                  --       0.00%
45415   OH                  --       0.00%
45416   OH                  --       0.00%
45417   OH                  --       0.00%
45418   OH                  --       0.00%
45419   OH                  --       0.00%
45420   OH                  --       0.00%
45424   OH                  --       0.00%
45426   OH                  --       0.00%
45427   OH                  --       0.00%
45429   OH                  --       0.00%
45430   OH                  --       0.00%
45431   OH                  --       0.00%
45432   OH                  --       0.00%
45433   OH                  --       0.00%
45434   OH                  --       0.00%
45439   OH                  --       0.00%
45440   OH                  --       0.00%
45449   OH                  --       0.00%
45458   OH                  --       0.00%
45459   OH                  --       0.00%
45712   OH                  --       0.00%
45713   OH                  --       0.00%
45714   OH                  --       0.00%
45715   OH                  --       0.00%
45724   OH                  --       0.00%
45729   OH                  --       0.00%
45742   OH                  --       0.00%
45744   OH                  --       0.00%
45745   OH                  --       0.00%
45746   OH                  --       0.00%
45750   OH                  --       0.00%
45767   OH                  --       0.00%
45768   OH                  --       0.00%
45773   OH                  --       0.00%
45784   OH                  --       0.00%
45786   OH                  --       0.00%
45788   OH                  --       0.00%
45789   OH                  --       0.00%
45801   OH                  --       0.00%
45804   OH                  --       0.00%
45805   OH                  --       0.00%
45806   OH                  --       0.00%
45807   OH                  --       0.00%
45808   OH                  --       0.00%
45809   OH                  --       0.00%
45817   OH                  --       0.00%
45819   OH                  --       0.00%
45820   OH                  --       0.00%
45833   OH                  --       0.00%
45850   OH                  --       0.00%
45865   OH                  --       0.00%
45869   OH                  --       0.00%
45870   OH                  --       0.00%
45871   OH                  --       0.00%
45872   OH                  --       0.00%
45885   OH                  --       0.00%
45887   OH                  --       0.00%
45888   OH                  --       0.00%
45895   OH                  --       0.00%
45896   OH           49,937.25       0.01%
46001   IN                  --       0.00%
46011   IN                  --       0.00%
46012   IN           90,752.82       0.01%
46013   IN                  --       0.00%
46016   IN                  --       0.00%
46017   IN                  --       0.00%
46030   IN                  --       0.00%
46031   IN           31,973.32       0.00%
46032   IN                  --       0.00%
46033   IN                  --       0.00%
46034   IN                  --       0.00%
46035   IN                  --       0.00%
46036   IN          115,684.14       0.01%
46038   IN                  --       0.00%
46039   IN                  --       0.00%
46040   IN                  --       0.00%
46041   IN                  --       0.00%
46044   IN                  --       0.00%
46045   IN                  --       0.00%
46047   IN                  --       0.00%
46048   IN                  --       0.00%
46049   IN                  --       0.00%
46050   IN                  --       0.00%
46051   IN                  --       0.00%
46052   IN                  --       0.00%
46055   IN                  --       0.00%
46056   IN                  --       0.00%
46057   IN                  --       0.00%
46058   IN                  --       0.00%
46060   IN                  --       0.00%
46063   IN                  --       0.00%
46064   IN                  --       0.00%
46065   IN                  --       0.00%
46068   IN                  --       0.00%
46069   IN                  --       0.00%
46070   IN                  --       0.00%
46071   IN                  --       0.00%
46072   IN                  --       0.00%
46074   IN                  --       0.00%
46075   IN                  --       0.00%
46076   IN                  --       0.00%
46077   IN                  --       0.00%
46102   IN                  --       0.00%
46103   IN                  --       0.00%
46106   IN                  --       0.00%
46107   IN                  --       0.00%
46110   IN                  --       0.00%
46111   IN                  --       0.00%
46112   IN                  --       0.00%
46113   IN                  --       0.00%
46117   IN                  --       0.00%
46118   IN                  --       0.00%
46122   IN                  --       0.00%
46123   IN                  --       0.00%
46124   IN           23,770.45       0.00%
46125   IN                  --       0.00%
46126   IN                  --       0.00%
46130   IN                  --       0.00%
46131   IN                  --       0.00%
46140   IN                  --       0.00%
46142   IN                  --       0.00%
46143   IN                  --       0.00%
46144   IN                  --       0.00%
46147   IN                  --       0.00%
46149   IN                  --       0.00%
46151   IN                  --       0.00%
46157   IN                  --       0.00%
46158   IN          118,831.73       0.01%
46161   IN                  --       0.00%
46162   IN                  --       0.00%
46163   IN                  --       0.00%
46164   IN                  --       0.00%
46165   IN                  --       0.00%
46166   IN          140,125.12       0.02%
46167   IN                  --       0.00%
46168   IN                  --       0.00%
46176   IN                  --       0.00%
46180   IN                  --       0.00%
46181   IN                  --       0.00%
46182   IN                  --       0.00%
46184   IN                  --       0.00%
46186   IN                  --       0.00%
46201   IN                  --       0.00%
46202   IN                  --       0.00%
46203   IN                  --       0.00%
46204   IN                  --       0.00%
46205   IN          130,270.70       0.02%
46208   IN                  --       0.00%
46214   IN                  --       0.00%
46216   IN                  --       0.00%
46217   IN          108,810.50       0.01%
46218   IN                  --       0.00%
46219   IN          150,655.84       0.02%
46220   IN                  --       0.00%
46221   IN                  --       0.00%
46222   IN                  --       0.00%
46224   IN           66,203.96       0.01%
46225   IN                  --       0.00%
46226   IN          270,611.01       0.03%
46227   IN                  --       0.00%
46228   IN                  --       0.00%
46229   IN                  --       0.00%
46231   IN                  --       0.00%
46234   IN                  --       0.00%
46235   IN          190,108.07       0.02%
46236   IN          106,128.93       0.01%
46237   IN                  --       0.00%
46239   IN                  --       0.00%
46240   IN                  --       0.00%
46241   IN                  --       0.00%
46250   IN                  --       0.00%
46254   IN                  --       0.00%
46256   IN                  --       0.00%
46259   IN                  --       0.00%
46260   IN                  --       0.00%
46268   IN          171,679.64       0.02%
46278   IN                  --       0.00%
46280   IN                  --       0.00%
46290   IN                  --       0.00%
46507   IN                  --       0.00%
46514   IN                  --       0.00%
46516   IN                  --       0.00%
46517   IN                  --       0.00%
46526   IN                  --       0.00%
46528   IN                  --       0.00%
46530   IN          118,823.00       0.01%
46536   IN                  --       0.00%
46540   IN                  --       0.00%
46543   IN                  --       0.00%
46544   IN                  --       0.00%
46545   IN                  --       0.00%
46550   IN                  --       0.00%
46552   IN                  --       0.00%
46553   IN                  --       0.00%
46554   IN                  --       0.00%
46556   IN                  --       0.00%
46561   IN                  --       0.00%
46573   IN                  --       0.00%
46574   IN                  --       0.00%
46595   IN                  --       0.00%
46601   IN                  --       0.00%
46613   IN                  --       0.00%
46614   IN           48,466.29       0.01%
46615   IN                  --       0.00%
46616   IN                  --       0.00%
46617   IN           50,920.06       0.01%
46619   IN          160,465.14       0.02%
46628   IN           73,058.17       0.01%
46629   IN                  --       0.00%
46635   IN                  --       0.00%
46637   IN                  --       0.00%
46702   IN                  --       0.00%
46705   IN                  --       0.00%
46706   IN                  --       0.00%
46711   IN                  --       0.00%
46714   IN                  --       0.00%
46721   IN           75,287.22       0.01%
46723   IN                  --       0.00%
46725   IN                  --       0.00%
46730   IN                  --       0.00%
46731   IN                  --       0.00%
46733   IN                  --       0.00%
46738   IN                  --       0.00%
46740   IN                  --       0.00%
46741   IN                  --       0.00%
46743   IN                  --       0.00%
46745   IN                  --       0.00%
46748   IN                  --       0.00%
46750   IN                  --       0.00%
46759   IN                  --       0.00%
46764   IN                  --       0.00%
46765   IN                  --       0.00%
46766   IN                  --       0.00%
46770   IN                  --       0.00%
46772   IN                  --       0.00%
46773   IN                  --       0.00%
46774   IN                  --       0.00%
46777   IN                  --       0.00%
46781   IN                  --       0.00%
46783   IN                  --       0.00%
46785   IN                  --       0.00%
46787   IN                  --       0.00%
46788   IN                  --       0.00%
46791   IN                  --       0.00%
46792   IN                  --       0.00%
46793   IN                  --       0.00%
46797   IN                  --       0.00%
46798   IN                  --       0.00%
46799   IN                  --       0.00%
46802   IN                  --       0.00%
46803   IN                  --       0.00%
46804   IN                  --       0.00%
46805   IN                  --       0.00%
46806   IN                  --       0.00%
46807   IN                  --       0.00%
46808   IN                  --       0.00%
46809   IN                  --       0.00%
46814   IN                  --       0.00%
46815   IN                  --       0.00%
46816   IN                  --       0.00%
46818   IN                  --       0.00%
46819   IN                  --       0.00%
46825   IN                  --       0.00%
46835   IN                  --       0.00%
46845   IN                  --       0.00%
46901   IN           52,425.70       0.01%
46902   IN                  --       0.00%
46936   IN                  --       0.00%
46979   IN                  --       0.00%
47234   IN                  --       0.00%
47302   IN                  --       0.00%
47303   IN                  --       0.00%
47304   IN                  --       0.00%
47305   IN                  --       0.00%
47320   IN                  --       0.00%
47334   IN                  --       0.00%
47338   IN                  --       0.00%
47342   IN                  --       0.00%
47383   IN                  --       0.00%
47396   IN                  --       0.00%
47601   IN                  --       0.00%
47610   IN                  --       0.00%
47612   IN                  --       0.00%
47613   IN                  --       0.00%
47616   IN                  --       0.00%
47619   IN                  --       0.00%
47620   IN                  --       0.00%
47630   IN                  --       0.00%
47631   IN                  --       0.00%
47633   IN                  --       0.00%
47637   IN                  --       0.00%
47638   IN                  --       0.00%
47708   IN                  --       0.00%
47710   IN                  --       0.00%
47711   IN                  --       0.00%
47712   IN                  --       0.00%
47713   IN                  --       0.00%
47714   IN                  --       0.00%
47715   IN                  --       0.00%
47720   IN                  --       0.00%
47725   IN                  --       0.00%
47802   IN                  --       0.00%
47803   IN                  --       0.00%
47804   IN                  --       0.00%
47805   IN           77,928.75       0.01%
47807   IN                  --       0.00%
47833   IN                  --       0.00%
47834   IN                  --       0.00%
47837   IN                  --       0.00%
47840   IN                  --       0.00%
47841   IN                  --       0.00%
47842   IN                  --       0.00%
47846   IN                  --       0.00%
47847   IN                  --       0.00%
47853   IN                  --       0.00%
47854   IN                  --       0.00%
47858   IN                  --       0.00%
47863   IN                  --       0.00%
47866   IN                  --       0.00%
47876   IN                  --       0.00%
47881   IN                  --       0.00%
47884   IN                  --       0.00%
47885   IN                  --       0.00%
47901   IN                  --       0.00%
47904   IN                  --       0.00%
47905   IN          103,761.83       0.01%
47906   IN                  --       0.00%
47909   IN                  --       0.00%
47920   IN                  --       0.00%
47924   IN                  --       0.00%
47928   IN                  --       0.00%
47930   IN                  --       0.00%
47941   IN                  --       0.00%
47966   IN                  --       0.00%
47974   IN                  --       0.00%
47981   IN                  --       0.00%
47983   IN                  --       0.00%
47992   IN                  --       0.00%
48001   MI                  --       0.00%
48002   MI                  --       0.00%
48003   MI                  --       0.00%
48005   MI                  --       0.00%
48006   MI                  --       0.00%
48009   MI                  --       0.00%
48014   MI                  --       0.00%
48015   MI                  --       0.00%
48017   MI                  --       0.00%
48021   MI           93,019.05       0.01%
48022   MI                  --       0.00%
48023   MI                  --       0.00%
48025   MI                  --       0.00%
48026   MI                  --       0.00%
48027   MI                  --       0.00%
48028   MI                  --       0.00%
48030   MI                  --       0.00%
48032   MI                  --       0.00%
48034   MI                  --       0.00%
48035   MI          146,833.59       0.02%
48036   MI                  --       0.00%
48038   MI                  --       0.00%
48039   MI                  --       0.00%
48040   MI                  --       0.00%
48041   MI                  --       0.00%
48042   MI                  --       0.00%
48043   MI                  --       0.00%
48044   MI                  --       0.00%
48045   MI                  --       0.00%
48047   MI                  --       0.00%
48048   MI                  --       0.00%
48049   MI                  --       0.00%
48050   MI                  --       0.00%
48051   MI                  --       0.00%
48054   MI                  --       0.00%
48059   MI                  --       0.00%
48060   MI           79,919.99       0.01%
48062   MI                  --       0.00%
48063   MI                  --       0.00%
48064   MI                  --       0.00%
48065   MI                  --       0.00%
48066   MI           76,627.93       0.01%
48067   MI                  --       0.00%
48069   MI                  --       0.00%
48070   MI                  --       0.00%
48071   MI                  --       0.00%
48072   MI                  --       0.00%
48073   MI                  --       0.00%
48074   MI                  --       0.00%
48075   MI          284,406.14       0.03%
48076   MI          174,282.30       0.02%
48079   MI                  --       0.00%
48080   MI                  --       0.00%
48081   MI                  --       0.00%
48082   MI                  --       0.00%
48083   MI                  --       0.00%
48084   MI                  --       0.00%
48089   MI          175,612.40       0.02%
48091   MI                  --       0.00%
48092   MI                  --       0.00%
48093   MI                  --       0.00%
48094   MI          128,760.01       0.02%
48095   MI                  --       0.00%
48096   MI                  --       0.00%
48097   MI                  --       0.00%
48098   MI                  --       0.00%
48101   MI                  --       0.00%
48111   MI                  --       0.00%
48117   MI                  --       0.00%
48120   MI                  --       0.00%
48122   MI                  --       0.00%
48124   MI                  --       0.00%
48125   MI                  --       0.00%
48126   MI          226,682.85       0.03%
48127   MI          144,000.00       0.02%
48128   MI                  --       0.00%
48131   MI                  --       0.00%
48133   MI                  --       0.00%
48134   MI                  --       0.00%
48135   MI          129,773.98       0.02%
48138   MI                  --       0.00%
48140   MI                  --       0.00%
48141   MI                  --       0.00%
48144   MI                  --       0.00%
48145   MI                  --       0.00%
48146   MI                  --       0.00%
48150   MI                  --       0.00%
48152   MI                  --       0.00%
48154   MI                  --       0.00%
48157   MI                  --       0.00%
48159   MI                  --       0.00%
48160   MI                  --       0.00%
48161   MI                  --       0.00%
48162   MI                  --       0.00%
48164   MI                  --       0.00%
48165   MI                  --       0.00%
48166   MI                  --       0.00%
48167   MI                  --       0.00%
48170   MI                  --       0.00%
48173   MI                  --       0.00%
48174   MI          155,018.64       0.02%
48178   MI                  --       0.00%
48179   MI                  --       0.00%
48180   MI                  --       0.00%
48182   MI                  --       0.00%
48183   MI                  --       0.00%
48184   MI          112,720.19       0.01%
48185   MI          110,374.35       0.01%
48186   MI          147,009.21       0.02%
48187   MI                  --       0.00%
48188   MI                  --       0.00%
48192   MI          111,857.40       0.01%
48195   MI                  --       0.00%
48201   MI                  --       0.00%
48202   MI          182,028.37       0.02%
48203   MI           71,937.38       0.01%
48204   MI          235,803.85       0.03%
48205   MI          427,426.34       0.05%
48206   MI                  --       0.00%
48207   MI                  --       0.00%
48208   MI                  --       0.00%
48209   MI                  --       0.00%
48210   MI           67,232.75       0.01%
48211   MI                  --       0.00%
48212   MI           74,609.17       0.01%
48213   MI          125,241.82       0.02%
48214   MI                  --       0.00%
48215   MI           53,928.48       0.01%
48216   MI                  --       0.00%
48217   MI                  --       0.00%
48218   MI                  --       0.00%
48219   MI          439,234.77       0.05%
48220   MI           97,315.62       0.01%
48221   MI          266,710.61       0.03%
48223   MI                  --       0.00%
48224   MI          244,539.21       0.03%
48225   MI                  --       0.00%
48226   MI                  --       0.00%
48227   MI           64,501.40       0.01%
48228   MI          126,081.43       0.02%
48229   MI                  --       0.00%
48230   MI                  --       0.00%
48234   MI          109,880.39       0.01%
48235   MI          210,686.80       0.03%
48236   MI                  --       0.00%
48237   MI          149,276.24       0.02%
48238   MI           50,945.21       0.01%
48239   MI          207,161.60       0.02%
48240   MI           87,325.08       0.01%
48242   MI                  --       0.00%
48301   MI                  --       0.00%
48302   MI                  --       0.00%
48304   MI                  --       0.00%
48306   MI                  --       0.00%
48307   MI                  --       0.00%
48309   MI                  --       0.00%
48310   MI                  --       0.00%
48312   MI                  --       0.00%
48313   MI          128,000.00       0.02%
48314   MI                  --       0.00%
48315   MI                  --       0.00%
48316   MI                  --       0.00%
48317   MI                  --       0.00%
48320   MI                  --       0.00%
48322   MI                  --       0.00%
48323   MI                  --       0.00%
48324   MI                  --       0.00%
48326   MI           30,872.59       0.00%
48327   MI                  --       0.00%
48328   MI           72,586.05       0.01%
48329   MI                  --       0.00%
48331   MI                  --       0.00%
48334   MI                  --       0.00%
48335   MI                  --       0.00%
48336   MI          229,416.81       0.03%
48340   MI                  --       0.00%
48341   MI                  --       0.00%
48342   MI           65,894.12       0.01%
48346   MI          200,605.40       0.02%
48348   MI          311,324.37       0.04%
48350   MI                  --       0.00%
48356   MI                  --       0.00%
48357   MI                  --       0.00%
48359   MI                  --       0.00%
48360   MI                  --       0.00%
48362   MI                  --       0.00%
48363   MI                  --       0.00%
48367   MI                  --       0.00%
48370   MI                  --       0.00%
48371   MI                  --       0.00%
48374   MI                  --       0.00%
48375   MI                  --       0.00%
48377   MI                  --       0.00%
48380   MI                  --       0.00%
48381   MI                  --       0.00%
48382   MI                  --       0.00%
48383   MI                  --       0.00%
48386   MI                  --       0.00%
48390   MI                  --       0.00%
48393   MI                  --       0.00%
48412   MI                  --       0.00%
48415   MI                  --       0.00%
48417   MI                  --       0.00%
48420   MI                  --       0.00%
48421   MI                  --       0.00%
48423   MI          147,980.22       0.02%
48428   MI                  --       0.00%
48430   MI                  --       0.00%
48433   MI                  --       0.00%
48436   MI                  --       0.00%
48437   MI                  --       0.00%
48438   MI                  --       0.00%
48439   MI                  --       0.00%
48440   MI                  --       0.00%
48442   MI                  --       0.00%
48444   MI           74,916.03       0.01%
48446   MI                  --       0.00%
48449   MI                  --       0.00%
48451   MI                  --       0.00%
48455   MI                  --       0.00%
48457   MI                  --       0.00%
48458   MI                  --       0.00%
48461   MI                  --       0.00%
48462   MI                  --       0.00%
48463   MI          145,446.04       0.02%
48464   MI                  --       0.00%
48473   MI                  --       0.00%
48502   MI                  --       0.00%
48503   MI                  --       0.00%
48504   MI           59,071.55       0.01%
48505   MI                  --       0.00%
48506   MI                  --       0.00%
48507   MI                  --       0.00%
48509   MI                  --       0.00%
48519   MI                  --       0.00%
48529   MI                  --       0.00%
48532   MI          116,159.18       0.01%
48601   MI                  --       0.00%
48602   MI           55,224.89       0.01%
48603   MI          145,527.10       0.02%
48604   MI                  --       0.00%
48607   MI                  --       0.00%
48609   MI                  --       0.00%
48611   MI                  --       0.00%
48613   MI                  --       0.00%
48614   MI                  --       0.00%
48616   MI                  --       0.00%
48618   MI                  --       0.00%
48620   MI                  --       0.00%
48623   MI                  --       0.00%
48626   MI                  --       0.00%
48628   MI                  --       0.00%
48631   MI                  --       0.00%
48634   MI                  --       0.00%
48637   MI                  --       0.00%
48640   MI          129,692.77       0.02%
48642   MI                  --       0.00%
48649   MI                  --       0.00%
48650   MI                  --       0.00%
48655   MI                  --       0.00%
48657   MI                  --       0.00%
48706   MI           84,897.77       0.01%
48708   MI                  --       0.00%
48722   MI                  --       0.00%
48724   MI                  --       0.00%
48727   MI                  --       0.00%
48732   MI                  --       0.00%
48734   MI                  --       0.00%
48747   MI                  --       0.00%
49267   MI                  --       0.00%
49270   MI                  --       0.00%
50613   IA                  --       0.00%
50623   IA                  --       0.00%
50626   IA                  --       0.00%
50634   IA                  --       0.00%
50643   IA                  --       0.00%
50651   IA                  --       0.00%
50667   IA                  --       0.00%
50701   IA                  --       0.00%
50702   IA                  --       0.00%
50703   IA                  --       0.00%
50706   IA                  --       0.00%
50707   IA                  --       0.00%
51004   IA                  --       0.00%
51007   IA                  --       0.00%
51016   IA                  --       0.00%
51018   IA                  --       0.00%
51019   IA                  --       0.00%
51026   IA                  --       0.00%
51030   IA                  --       0.00%
51039   IA                  --       0.00%
51044   IA                  --       0.00%
51048   IA                  --       0.00%
51052   IA                  --       0.00%
51054   IA                  --       0.00%
51055   IA                  --       0.00%
51056   IA                  --       0.00%
51101   IA                  --       0.00%
51103   IA                  --       0.00%
51104   IA                  --       0.00%
51105   IA                  --       0.00%
51106   IA                  --       0.00%
51108   IA                  --       0.00%
51109   IA                  --       0.00%
51111   IA                  --       0.00%
54002   WI                  --       0.00%
54003   WI                  --       0.00%
54007   WI                  --       0.00%
54011   WI                  --       0.00%
54012   WI                  --       0.00%
54013   WI                  --       0.00%
54014   WI                  --       0.00%
54015   WI                  --       0.00%
54016   WI                  --       0.00%
54017   WI          163,570.84       0.02%
54021   WI                  --       0.00%
54022   WI                  --       0.00%
54023   WI                  --       0.00%
54025   WI                  --       0.00%
54027   WI                  --       0.00%
54028   WI                  --       0.00%
54082   WI                  --       0.00%
54723   WI                  --       0.00%
54740   WI                  --       0.00%
54750   WI                  --       0.00%
54761   WI                  --       0.00%
54767   WI                  --       0.00%
55001   MN                  --       0.00%
55003   MN                  --       0.00%
55005   MN                  --       0.00%
55006   MN                  --       0.00%
55008   MN                  --       0.00%
55010   MN                  --       0.00%
55011   MN                  --       0.00%
55012   MN                  --       0.00%
55013   MN                  --       0.00%
55014   MN                  --       0.00%
55016   MN          202,344.58       0.02%
55017   MN                  --       0.00%
55020   MN                  --       0.00%
55024   MN                  --       0.00%
55025   MN                  --       0.00%
55031   MN                  --       0.00%
55032   MN                  --       0.00%
55033   MN                  --       0.00%
55038   MN                  --       0.00%
55040   MN                  --       0.00%
55042   MN                  --       0.00%
55043   MN                  --       0.00%
55044   MN                  --       0.00%
55045   MN                  --       0.00%
55047   MN                  --       0.00%
55055   MN                  --       0.00%
55056   MN                  --       0.00%
55065   MN                  --       0.00%
55068   MN                  --       0.00%
55069   MN                  --       0.00%
55070   MN                  --       0.00%
55071   MN                  --       0.00%
55073   MN                  --       0.00%
55074   MN                  --       0.00%
55075   MN                  --       0.00%
55076   MN                  --       0.00%
55077   MN                  --       0.00%
55079   MN                  --       0.00%
55080   MN                  --       0.00%
55082   MN                  --       0.00%
55084   MN                  --       0.00%
55085   MN                  --       0.00%
55090   MN                  --       0.00%
55092   MN                  --       0.00%
55101   MN                  --       0.00%
55102   MN                  --       0.00%
55103   MN          147,343.38       0.02%
55104   MN                  --       0.00%
55105   MN                  --       0.00%
55106   MN                  --       0.00%
55107   MN                  --       0.00%
55108   MN                  --       0.00%
55109   MN                  --       0.00%
55110   MN                  --       0.00%
55112   MN                  --       0.00%
55113   MN                  --       0.00%
55114   MN                  --       0.00%
55115   MN                  --       0.00%
55116   MN          229,100.98       0.03%
55117   MN                  --       0.00%
55118   MN                  --       0.00%
55119   MN                  --       0.00%
55120   MN                  --       0.00%
55121   MN          137,861.30       0.02%
55122   MN                  --       0.00%
55123   MN                  --       0.00%
55124   MN                  --       0.00%
55125   MN                  --       0.00%
55126   MN                  --       0.00%
55127   MN                  --       0.00%
55128   MN                  --       0.00%
55129   MN                  --       0.00%
55150   MN                  --       0.00%
55301   MN                  --       0.00%
55302   MN                  --       0.00%
55303   MN                  --       0.00%
55304   MN                  --       0.00%
55305   MN                  --       0.00%
55306   MN                  --       0.00%
55308   MN                  --       0.00%
55309   MN          159,603.47       0.02%
55311   MN                  --       0.00%
55313   MN                  --       0.00%
55315   MN                  --       0.00%
55316   MN          206,775.35       0.02%
55317   MN                  --       0.00%
55318   MN                  --       0.00%
55319   MN                  --       0.00%
55320   MN                  --       0.00%
55321   MN                  --       0.00%
55322   MN                  --       0.00%
55327   MN                  --       0.00%
55328   MN                  --       0.00%
55330   MN                  --       0.00%
55331   MN                  --       0.00%
55337   MN                  --       0.00%
55339   MN                  --       0.00%
55340   MN                  --       0.00%
55341   MN                  --       0.00%
55343   MN                  --       0.00%
55344   MN                  --       0.00%
55345   MN                  --       0.00%
55346   MN                  --       0.00%
55347   MN                  --       0.00%
55349   MN                  --       0.00%
55352   MN                  --       0.00%
55356   MN                  --       0.00%
55357   MN                  --       0.00%
55358   MN                  --       0.00%
55359   MN                  --       0.00%
55360   MN                  --       0.00%
55362   MN                  --       0.00%
55363   MN                  --       0.00%
55364   MN                  --       0.00%
55367   MN                  --       0.00%
55368   MN                  --       0.00%
55369   MN                  --       0.00%
55372   MN                  --       0.00%
55373   MN                  --       0.00%
55374   MN                  --       0.00%
55375   MN                  --       0.00%
55376   MN                  --       0.00%
55378   MN                  --       0.00%
55379   MN                  --       0.00%
55382   MN                  --       0.00%
55384   MN                  --       0.00%
55386   MN                  --       0.00%
55387   MN                  --       0.00%
55388   MN                  --       0.00%
55390   MN                  --       0.00%
55391   MN                  --       0.00%
55397   MN                  --       0.00%
55398   MN                  --       0.00%
55401   MN                  --       0.00%
55402   MN                  --       0.00%
55403   MN                  --       0.00%
55404   MN                  --       0.00%
55405   MN                  --       0.00%
55406   MN                  --       0.00%
55407   MN                  --       0.00%
55408   MN                  --       0.00%
55409   MN                  --       0.00%
55410   MN                  --       0.00%
55411   MN                  --       0.00%
55412   MN                  --       0.00%
55413   MN                  --       0.00%
55414   MN                  --       0.00%
55415   MN                  --       0.00%
55416   MN                  --       0.00%
55417   MN                  --       0.00%
55418   MN          271,605.02       0.03%
55419   MN                  --       0.00%
55420   MN                  --       0.00%
55421   MN          155,195.73       0.02%
55422   MN          155,959.38       0.02%
55423   MN                  --       0.00%
55424   MN                  --       0.00%
55425   MN                  --       0.00%
55426   MN                  --       0.00%
55427   MN                  --       0.00%
55428   MN                  --       0.00%
55429   MN                  --       0.00%
55430   MN                  --       0.00%
55431   MN                  --       0.00%
55432   MN                  --       0.00%
55433   MN                  --       0.00%
55434   MN                  --       0.00%
55435   MN                  --       0.00%
55436   MN                  --       0.00%
55437   MN                  --       0.00%
55438   MN                  --       0.00%
55439   MN                  --       0.00%
55441   MN                  --       0.00%
55442   MN                  --       0.00%
55443   MN                  --       0.00%
55444   MN                  --       0.00%
55445   MN                  --       0.00%
55446   MN                  --       0.00%
55447   MN                  --       0.00%
55448   MN                  --       0.00%
55449   MN          598,234.70       0.07%
55450   MN                  --       0.00%
55454   MN                  --       0.00%
55455   MN                  --       0.00%
56011   MN                  --       0.00%
56071   MN                  --       0.00%
57003   SD                  --       0.00%
57005   SD                  --       0.00%
57013   SD                  --       0.00%
57018   SD                  --       0.00%
57020   SD                  --       0.00%
57022   SD           85,157.70       0.01%
57027   SD                  --       0.00%
57030   SD                  --       0.00%
57032   SD                  --       0.00%
57033   SD                  --       0.00%
57034   SD                  --       0.00%
57035   SD                  --       0.00%
57039   SD                  --       0.00%
57041   SD                  --       0.00%
57055   SD                  --       0.00%
57064   SD                  --       0.00%
57068   SD                  --       0.00%
57077   SD                  --       0.00%
57103   SD                  --       0.00%
57104   SD                  --       0.00%
57105   SD                  --       0.00%
57106   SD                  --       0.00%
57107   SD                  --       0.00%
57108   SD                  --       0.00%
57110   SD                  --       0.00%
59801   MT                  --       0.00%
59802   MT                  --       0.00%
59803   MT                  --       0.00%
59804   MT                  --       0.00%
59808   MT                  --       0.00%
59823   MT                  --       0.00%
59825   MT                  --       0.00%
59826   MT                  --       0.00%
59834   MT                  --       0.00%
59836   MT                  --       0.00%
59846   MT                  --       0.00%
59847   MT                  --       0.00%
59851   MT                  --       0.00%
59868   MT                  --       0.00%
60113   IL                  --       0.00%
61007   IL                  --       0.00%
61008   IL          140,255.74       0.02%
61010   IL                  --       0.00%
61011   IL                  --       0.00%
61012   IL                  --       0.00%
61015   IL                  --       0.00%
61016   IL                  --       0.00%
61020   IL                  --       0.00%
61024   IL                  --       0.00%
61030   IL                  --       0.00%
61038   IL                  --       0.00%
61047   IL                  --       0.00%
61049   IL                  --       0.00%
61052   IL                  --       0.00%
61054   IL                  --       0.00%
61061   IL                  --       0.00%
61063   IL                  --       0.00%
61064   IL                  --       0.00%
61065   IL          133,345.81       0.02%
61068   IL          247,228.02       0.03%
61072   IL                  --       0.00%
61073   IL          109,192.06       0.01%
61077   IL                  --       0.00%
61080   IL                  --       0.00%
61084   IL                  --       0.00%
61088   IL          332,970.54       0.04%
61091   IL                  --       0.00%
61101   IL                  --       0.00%
61102   IL                  --       0.00%
61103   IL                  --       0.00%
61104   IL                  --       0.00%
61107   IL                  --       0.00%
61108   IL          103,320.07       0.01%
61109   IL          181,460.96       0.02%
61111   IL          103,098.08       0.01%
61112   IL                  --       0.00%
61114   IL                  --       0.00%
61115   IL          111,100.30       0.01%
68731   NE                  --       0.00%
68733   NE                  --       0.00%
68741   NE                  --       0.00%
68743   NE                  --       0.00%
68776   NE                  --       0.00%
70001   LA                  --       0.00%
70002   LA                  --       0.00%
70003   LA                  --       0.00%
70005   LA                  --       0.00%
70006   LA                  --       0.00%
70030   LA                  --       0.00%
70031   LA                  --       0.00%
70032   LA                  --       0.00%
70036   LA                  --       0.00%
70037   LA                  --       0.00%
70038   LA                  --       0.00%
70039   LA                  --       0.00%
70040   LA                  --       0.00%
70041   LA                  --       0.00%
70043   LA                  --       0.00%
70047   LA                  --       0.00%
70049   LA                  --       0.00%
70050   LA                  --       0.00%
70051   LA                  --       0.00%
70052   LA                  --       0.00%
70053   LA                  --       0.00%
70056   LA           22,551.15       0.00%
70057   LA                  --       0.00%
70058   LA                  --       0.00%
70062   LA                  --       0.00%
70065   LA                  --       0.00%
70066   LA                  --       0.00%
70067   LA                  --       0.00%
70068   LA          186,449.76       0.02%
70070   LA                  --       0.00%
70071   LA                  --       0.00%
70072   LA                  --       0.00%
70075   LA                  --       0.00%
70076   LA                  --       0.00%
70079   LA                  --       0.00%
70080   LA                  --       0.00%
70082   LA                  --       0.00%
70083   LA                  --       0.00%
70084   LA                  --       0.00%
70085   LA                  --       0.00%
70086   LA                  --       0.00%
70087   LA                  --       0.00%
70090   LA                  --       0.00%
70091   LA                  --       0.00%
70092   LA                  --       0.00%
70094   LA                  --       0.00%
70112   LA                  --       0.00%
70113   LA                  --       0.00%
70114   LA                  --       0.00%
70115   LA                  --       0.00%
70116   LA                  --       0.00%
70117   LA                  --       0.00%
70118   LA                  --       0.00%
70119   LA                  --       0.00%
70121   LA                  --       0.00%
70122   LA                  --       0.00%
70123   LA                  --       0.00%
70124   LA                  --       0.00%
70125   LA                  --       0.00%
70126   LA                  --       0.00%
70127   LA                  --       0.00%
70128   LA                  --       0.00%
70129   LA                  --       0.00%
70130   LA          141,366.72       0.02%
70131   LA                  --       0.00%
70163   LA                  --       0.00%
70301   LA          107,737.12       0.01%
70344   LA                  --       0.00%
70345   LA                  --       0.00%
70346   LA                  --       0.00%
70353   LA                  --       0.00%
70354   LA                  --       0.00%
70355   LA                  --       0.00%
70356   LA                  --       0.00%
70357   LA                  --       0.00%
70358   LA                  --       0.00%
70359   LA                  --       0.00%
70360   LA           75,148.69       0.01%
70363   LA                  --       0.00%
70364   LA                  --       0.00%
70373   LA                  --       0.00%
70374   LA                  --       0.00%
70375   LA                  --       0.00%
70377   LA                  --       0.00%
70394   LA                  --       0.00%
70395   LA                  --       0.00%
70397   LA                  --       0.00%
70420   LA                  --       0.00%
70431   LA                  --       0.00%
70433   LA                  --       0.00%
70435   LA                  --       0.00%
70437   LA                  --       0.00%
70445   LA                  --       0.00%
70447   LA                  --       0.00%
70448   LA                  --       0.00%
70449   LA                  --       0.00%
70452   LA                  --       0.00%
70458   LA                  --       0.00%
70460   LA                  --       0.00%
70461   LA                  --       0.00%
70462   LA                  --       0.00%
70463   LA                  --       0.00%
70464   LA                  --       0.00%
70471   LA                  --       0.00%
70601   LA                  --       0.00%
70605   LA                  --       0.00%
70607   LA                  --       0.00%
70611   LA           92,755.44       0.01%
70615   LA                  --       0.00%
70630   LA                  --       0.00%
70633   LA                  --       0.00%
70646   LA                  --       0.00%
70647   LA                  --       0.00%
70661   LA                  --       0.00%
70663   LA                  --       0.00%
70665   LA                  --       0.00%
70668   LA                  --       0.00%
70669   LA                  --       0.00%
70706   LA                  --       0.00%
70710   LA                  --       0.00%
70711   LA                  --       0.00%
70714   LA                  --       0.00%
70719   LA                  --       0.00%
70720   LA                  --       0.00%
70723   LA                  --       0.00%
70725   LA                  --       0.00%
70726   LA                  --       0.00%
70729   LA                  --       0.00%
70733   LA                  --       0.00%
70734   LA          189,270.61       0.02%
70737   LA          127,796.29       0.02%
70739   LA          122,979.05       0.01%
70743   LA                  --       0.00%
70744   LA                  --       0.00%
70754   LA                  --       0.00%
70763   LA                  --       0.00%
70767   LA                  --       0.00%
70769   LA                  --       0.00%
70770   LA                  --       0.00%
70774   LA                  --       0.00%
70778   LA                  --       0.00%
70785   LA          112,897.48       0.01%
70791   LA                  --       0.00%
70801   LA                  --       0.00%
70802   LA                  --       0.00%
70805   LA                  --       0.00%
70806   LA           72,935.68       0.01%
70807   LA           40,606.44       0.00%
70808   LA                  --       0.00%
70809   LA                  --       0.00%
70810   LA          118,879.97       0.01%
70811   LA                  --       0.00%
70812   LA                  --       0.00%
70814   LA          206,815.71       0.02%
70815   LA                  --       0.00%
70816   LA                  --       0.00%
70817   LA           29,972.22       0.00%
70818   LA                  --       0.00%
70819   LA                  --       0.00%
70820   LA                  --       0.00%
70836   LA                  --       0.00%
71004   LA                  --       0.00%
71007   LA                  --       0.00%
71009   LA                  --       0.00%
71018   LA                  --       0.00%
71021   LA                  --       0.00%
71023   LA                  --       0.00%
71024   LA                  --       0.00%
71029   LA                  --       0.00%
71033   LA                  --       0.00%
71039   LA                  --       0.00%
71043   LA                  --       0.00%
71044   LA                  --       0.00%
71047   LA                  --       0.00%
71055   LA                  --       0.00%
71060   LA                  --       0.00%
71061   LA                  --       0.00%
71069   LA                  --       0.00%
71071   LA                  --       0.00%
71072   LA                  --       0.00%
71073   LA                  --       0.00%
71075   LA                  --       0.00%
71082   LA                  --       0.00%
71101   LA                  --       0.00%
71103   LA                  --       0.00%
71104   LA                  --       0.00%
71105   LA                  --       0.00%
71106   LA                  --       0.00%
71107   LA          174,558.09       0.02%
71108   LA                  --       0.00%
71109   LA                  --       0.00%
71115   LA                  --       0.00%
71118   LA                  --       0.00%
71119   LA                  --       0.00%
71129   LA          184,588.82       0.02%
71201   LA                  --       0.00%
71202   LA                  --       0.00%
71203   LA                  --       0.00%
71225   LA                  --       0.00%
71238   LA                  --       0.00%
71280   LA                  --       0.00%
71291   LA                  --       0.00%
71292   LA                  --       0.00%
71301   LA                  --       0.00%
71302   LA                  --       0.00%
71303   LA                  --       0.00%
71325   LA                  --       0.00%
71328   LA                  --       0.00%
71330   LA                  --       0.00%
71346   LA                  --       0.00%
71360   LA                  --       0.00%
71409   LA                  --       0.00%
71424   LA                  --       0.00%
71427   LA                  --       0.00%
71430   LA                  --       0.00%
71433   LA                  --       0.00%
71438   LA                  --       0.00%
71447   LA                  --       0.00%
71455   LA                  --       0.00%
71466   LA                  --       0.00%
71472   LA                  --       0.00%
71485   LA                  --       0.00%
71601   AR                  --       0.00%
71602   AR                  --       0.00%
71603   AR                  --       0.00%
71659   AR                  --       0.00%
72004   AR                  --       0.00%
72073   AR                  --       0.00%
72079   AR                  --       0.00%
72132   AR                  --       0.00%
72133   AR                  --       0.00%
72152   AR                  --       0.00%
72168   AR                  --       0.00%
72175   AR                  --       0.00%
72301   AR                  --       0.00%
72327   AR                  --       0.00%
72331   AR                  --       0.00%
72332   AR                  --       0.00%
72339   AR                  --       0.00%
72364   AR           79,890.65       0.01%
72376   AR                  --       0.00%
72384   AR                  --       0.00%
77374   TX                  --       0.00%
77376   TX                  --       0.00%
77519   TX                  --       0.00%
77585   TX                  --       0.00%
77611   TX                  --       0.00%
77613   TX                  --       0.00%
77619   TX                  --       0.00%
77622   TX                  --       0.00%
77625   TX                  --       0.00%
77627   TX                  --       0.00%
77629   TX                  --       0.00%
77630   TX                  --       0.00%
77632   TX                  --       0.00%
77640   TX                  --       0.00%
77642   TX                  --       0.00%
77651   TX                  --       0.00%
77655   TX                  --       0.00%
77656   TX                  --       0.00%
77657   TX                  --       0.00%
77659   TX                  --       0.00%
77662   TX                  --       0.00%
77663   TX                  --       0.00%
77701   TX                  --       0.00%
77702   TX                  --       0.00%
77703   TX                  --       0.00%
77705   TX                  --       0.00%
77706   TX          154,138.05       0.02%
77707   TX                  --       0.00%
77708   TX          122,285.90       0.01%
77713   TX                  --       0.00%
78501   TX           94,264.19       0.01%
78503   TX                  --       0.00%
78504   TX                  --       0.00%
78516   TX                  --       0.00%
78537   TX                  --       0.00%
78538   TX                  --       0.00%
78539   TX           86,233.59       0.01%
78543   TX                  --       0.00%
78549   TX                  --       0.00%
78557   TX                  --       0.00%
78558   TX                  --       0.00%
78560   TX                  --       0.00%
78562   TX                  --       0.00%
78563   TX                  --       0.00%
78565   TX                  --       0.00%
78570   TX                  --       0.00%
78572   TX                  --       0.00%
78576   TX                  --       0.00%
78577   TX                  --       0.00%
78579   TX                  --       0.00%
78589   TX                  --       0.00%
78595   TX                  --       0.00%
78596   TX                  --       0.00%
80020   CO          151,465.98       0.02%
80025   CO                  --       0.00%
80026   CO                  --       0.00%
80027   CO                  --       0.00%
80301   CO                  --       0.00%
80302   CO                  --       0.00%
80303   CO                  --       0.00%
80304   CO                  --       0.00%
80455   CO                  --       0.00%
80466   CO                  --       0.00%
80481   CO                  --       0.00%
80501   CO           31,937.21       0.00%
80503   CO          176,000.00       0.02%
80510   CO                  --       0.00%
80516   CO                  --       0.00%
80540   CO                  --       0.00%
84003   UT                  --       0.00%
84004   UT                  --       0.00%
84013   UT                  --       0.00%
84042   UT                  --       0.00%
84043   UT          146,796.77       0.02%
84057   UT                  --       0.00%
84058   UT                  --       0.00%
84062   UT                  --       0.00%
84097   UT                  --       0.00%
84601   UT                  --       0.00%
84604   UT                  --       0.00%
84606   UT                  --       0.00%
84626   UT                  --       0.00%
84633   UT                  --       0.00%
84651   UT                  --       0.00%
84653   UT                  --       0.00%
84655   UT                  --       0.00%
84660   UT                  --       0.00%
84663   UT                  --       0.00%
84664   UT                  --       0.00%
85333   AZ                  --       0.00%
85336   AZ                  --       0.00%
85347   AZ                  --       0.00%
85349   AZ           92,964.60       0.01%
85350   AZ                  --       0.00%
85356   AZ                  --       0.00%
85360   AZ                  --       0.00%
85364   AZ          265,924.36       0.03%
85365   AZ                  --       0.00%
85367   AZ                  --       0.00%
86021   AZ                  --       0.00%
86401   AZ                  --       0.00%
86403   AZ                  --       0.00%
86404   AZ                  --       0.00%
86406   AZ                  --       0.00%
86413   AZ                  --       0.00%
86426   AZ                  --       0.00%
86429   AZ                  --       0.00%
86430   AZ                  --       0.00%
86431   AZ                  --       0.00%
86432   AZ                  --       0.00%
86433   AZ                  --       0.00%
86434   AZ                  --       0.00%
86436   AZ                  --       0.00%
86437   AZ                  --       0.00%
86438   AZ                  --       0.00%
86440   AZ                  --       0.00%
86441   AZ                  --       0.00%
86442   AZ                  --       0.00%
86444   AZ                  --       0.00%
87010   NM                  --       0.00%
87015   NM                  --       0.00%
87056   NM                  --       0.00%
87501   NM                  --       0.00%
87505   NM                  --       0.00%
87535   NM                  --       0.00%
87540   NM                  --       0.00%
87544   NM                  --       0.00%
87567   NM                  --       0.00%
89003   NV                  --       0.00%
89004   NV                  --       0.00%
89005   NV                  --       0.00%
89007   NV                  --       0.00%
89011   NV                  --       0.00%
89012   NV                  --       0.00%
89014   NV          759,193.62       0.09%
89015   NV          726,971.60       0.09%
89018   NV                  --       0.00%
89019   NV                  --       0.00%
89020   NV                  --       0.00%
89021   NV                  --       0.00%
89022   NV                  --       0.00%
89024   NV                  --       0.00%
89025   NV                  --       0.00%
89027   NV                  --       0.00%
89028   NV                  --       0.00%
89029   NV                  --       0.00%
89030   NV          762,503.91       0.09%
89031   NV        1,010,670.10       0.12%
89032   NV          895,721.81       0.11%
89039   NV                  --       0.00%
89040   NV                  --       0.00%
89046   NV                  --       0.00%
89048   NV                  --       0.00%
89049   NV                  --       0.00%
89052   NV          534,160.11       0.06%
89101   NV          372,900.00       0.04%
89102   NV                  --       0.00%
89103   NV                  --       0.00%
89104   NV          187,756.95       0.02%
89106   NV          244,719.18       0.03%
89107   NV          556,936.70       0.07%
89108   NV          564,194.25       0.07%
89109   NV          255,827.22       0.03%
89110   NV        1,532,398.46       0.18%
89113   NV                  --       0.00%
89115   NV           49,905.76       0.01%
89117   NV        1,177,499.63       0.14%
89118   NV                  --       0.00%
89119   NV           52,917.20       0.01%
89120   NV          435,998.32       0.05%
89121   NV          479,494.79       0.06%
89122   NV                  --       0.00%
89123   NV          920,043.17       0.11%
89124   NV                  --       0.00%
89128   NV          744,631.74       0.09%
89129   NV           54,950.61       0.01%
89130   NV          647,920.00       0.08%
89131   NV          260,303.54       0.03%
89134   NV                  --       0.00%
89135   NV                  --       0.00%
89139   NV          735,405.07       0.09%
89141   NV           56,498.19       0.01%
89142   NV          532,485.17       0.06%
89143   NV                  --       0.00%
89144   NV                  --       0.00%
89145   NV          814,551.68       0.10%
89146   NV          407,763.27       0.05%
89147   NV          765,523.28       0.09%
89148   NV                  --       0.00%
89149   NV          740,729.93       0.09%
89156   NV          571,868.79       0.07%
89191   NV                  --       0.00%
89405   NV                  --       0.00%
89409   NV                  --       0.00%
89424   NV                  --       0.00%
89431   NV                  --       0.00%
89433   NV                  --       0.00%
89434   NV                  --       0.00%
89436   NV                  --       0.00%
89439   NV                  --       0.00%
89442   NV                  --       0.00%
89451   NV                  --       0.00%
89501   NV                  --       0.00%
89502   NV                  --       0.00%
89503   NV          240,513.90       0.03%
89506   NV          239,847.11       0.03%
89509   NV                  --       0.00%
89510   NV                  --       0.00%
89511   NV                  --       0.00%
89512   NV                  --       0.00%
89523   NV                  --       0.00%
89704   NV                  --       0.00%
90001   CA          109,934.46       0.01%
90002   CA        1,004,103.89       0.12%
90003   CA        1,313,565.72       0.16%
90004   CA                  --       0.00%
90005   CA          560,000.00       0.07%
90006   CA                  --       0.00%
90007   CA          324,561.52       0.04%
90008   CA                  --       0.00%
90010   CA          723,539.76       0.09%
90011   CA        2,517,423.57       0.30%
90012   CA                  --       0.00%
90013   CA                  --       0.00%
90014   CA                  --       0.00%
90015   CA                  --       0.00%
90016   CA          897,912.76       0.11%
90017   CA                  --       0.00%
90018   CA          820,000.00       0.10%
90019   CA          647,689.55       0.08%
90020   CA                  --       0.00%
90021   CA                  --       0.00%
90022   CA          678,994.76       0.08%
90023   CA                  --       0.00%
90024   CA                  --       0.00%
90025   CA                  --       0.00%
90026   CA                  --       0.00%
90027   CA        1,261,275.94       0.15%
90028   CA          650,553.75       0.08%
90029   CA          739,592.98       0.09%
90031   CA                  --       0.00%
90032   CA          371,197.46       0.04%
90033   CA          402,902.61       0.05%
90034   CA                  --       0.00%
90035   CA          679,909.60       0.08%
90036   CA                  --       0.00%
90037   CA          447,525.32       0.05%
90038   CA                  --       0.00%
90039   CA                  --       0.00%
90040   CA                  --       0.00%
90041   CA                  --       0.00%
90042   CA          848,196.18       0.10%
90043   CA                  --       0.00%
90044   CA        2,479,037.13       0.30%
90045   CA                  --       0.00%
90046   CA                  --       0.00%
90047   CA          829,624.91       0.10%
90048   CA                  --       0.00%
90049   CA                  --       0.00%
90056   CA                  --       0.00%
90057   CA          748,285.92       0.09%
90058   CA                  --       0.00%
90059   CA        1,144,116.93       0.14%
90061   CA          539,302.49       0.06%
90062   CA                  --       0.00%
90063   CA                  --       0.00%
90064   CA                  --       0.00%
90065   CA                  --       0.00%
90066   CA          171,691.82       0.02%
90067   CA                  --       0.00%
90068   CA                  --       0.00%
90069   CA                  --       0.00%
90071   CA                  --       0.00%
90077   CA                  --       0.00%
90201   CA        1,137,978.83       0.14%
90210   CA                  --       0.00%
90211   CA                  --       0.00%
90212   CA                  --       0.00%
90220   CA        1,266,289.10       0.15%
90221   CA          475,801.61       0.06%
90222   CA                  --       0.00%
90230   CA                  --       0.00%
90232   CA                  --       0.00%
90240   CA                  --       0.00%
90241   CA          312,014.44       0.04%
90242   CA        1,057,964.36       0.13%
90245   CA                  --       0.00%
90247   CA                  --       0.00%
90248   CA                  --       0.00%
90249   CA          463,104.66       0.06%
90250   CA          495,852.31       0.06%
90254   CA                  --       0.00%
90255   CA          488,274.39       0.06%
90260   CA          553,500.00       0.07%
90261   CA                  --       0.00%
90262   CA        1,053,652.54       0.13%
90263   CA                  --       0.00%
90265   CA                  --       0.00%
90266   CA                  --       0.00%
90270   CA           85,939.07       0.01%
90272   CA                  --       0.00%
90274   CA                  --       0.00%
90275   CA                  --       0.00%
90277   CA                  --       0.00%
90278   CA                  --       0.00%
90280   CA                  --       0.00%
90290   CA                  --       0.00%
90291   CA                  --       0.00%
90292   CA                  --       0.00%
90293   CA                  --       0.00%
90301   CA                  --       0.00%
90302   CA          474,080.00       0.06%
90303   CA                  --       0.00%
90304   CA                  --       0.00%
90305   CA          320,585.40       0.04%
90401   CA                  --       0.00%
90402   CA                  --       0.00%
90403   CA                  --       0.00%
90404   CA                  --       0.00%
90405   CA                  --       0.00%
90501   CA                  --       0.00%
90502   CA          444,125.00       0.05%
90503   CA                  --       0.00%
90504   CA                  --       0.00%
90505   CA          595,581.44       0.07%
90601   CA          336,945.37       0.04%
90602   CA                  --       0.00%
90603   CA          135,769.56       0.02%
90604   CA                  --       0.00%
90605   CA          200,000.00       0.02%
90606   CA                  --       0.00%
90620   CA                  --       0.00%
90621   CA        1,368,868.04       0.16%
90623   CA          611,904.69       0.07%
90630   CA          384,560.80       0.05%
90631   CA          638,432.58       0.08%
90638   CA          443,928.25       0.05%
90640   CA          679,883.48       0.08%
90650   CA        2,292,198.87       0.27%
90660   CA                  --       0.00%
90670   CA          548,796.89       0.07%
90680   CA                  --       0.00%
90701   CA                  --       0.00%
90703   CA                  --       0.00%
90704   CA                  --       0.00%
90706   CA          460,000.00       0.06%
90710   CA                  --       0.00%
90712   CA                  --       0.00%
90713   CA          463,276.64       0.06%
90715   CA          954,436.19       0.11%
90716   CA                  --       0.00%
90717   CA          580,000.00       0.07%
90720   CA          561,923.65       0.07%
90723   CA          532,772.66       0.06%
90731   CA                  --       0.00%
90732   CA                  --       0.00%
90740   CA                  --       0.00%
90742   CA                  --       0.00%
90743   CA                  --       0.00%
90744   CA          500,571.57       0.06%
90745   CA        2,207,823.93       0.26%
90746   CA          127,401.06       0.02%
90802   CA                  --       0.00%
90803   CA                  --       0.00%
90804   CA          319,700.00       0.04%
90805   CA          732,687.82       0.09%
90806   CA        1,263,530.94       0.15%
90807   CA                  --       0.00%
90808   CA                  --       0.00%
90810   CA          875,196.66       0.10%
90813   CA                  --       0.00%
90814   CA                  --       0.00%
90815   CA          549,567.22       0.07%
90822   CA                  --       0.00%
91001   CA          499,000.00       0.06%
91006   CA                  --       0.00%
91007   CA                  --       0.00%
91010   CA           39,950.23       0.00%
91011   CA                  --       0.00%
91016   CA                  --       0.00%
91020   CA                  --       0.00%
91024   CA                  --       0.00%
91030   CA                  --       0.00%
91040   CA          504,000.00       0.06%
91042   CA                  --       0.00%
91101   CA                  --       0.00%
91103   CA          449,484.58       0.05%
91104   CA          500,000.00       0.06%
91105   CA                  --       0.00%
91106   CA                  --       0.00%
91107   CA          616,500.00       0.07%
91108   CA                  --       0.00%
91201   CA                  --       0.00%
91202   CA          499,859.87       0.06%
91203   CA                  --       0.00%
91204   CA                  --       0.00%
91205   CA                  --       0.00%
91206   CA          988,299.27       0.12%
91207   CA                  --       0.00%
91208   CA                  --       0.00%
91214   CA                  --       0.00%
91301   CA                  --       0.00%
91302   CA                  --       0.00%
91303   CA          791,540.99       0.09%
91304   CA                  --       0.00%
91306   CA                  --       0.00%
91307   CA                  --       0.00%
91311   CA                  --       0.00%
91316   CA                  --       0.00%
91321   CA                  --       0.00%
91324   CA                  --       0.00%
91325   CA                  --       0.00%
91326   CA          771,329.88       0.09%
91331   CA          199,868.24       0.02%
91335   CA          657,200.00       0.08%
91340   CA          450,500.00       0.05%
91342   CA          541,886.99       0.06%
91343   CA                  --       0.00%
91344   CA          539,884.30       0.06%
91345   CA                  --       0.00%
91350   CA          999,255.75       0.12%
91351   CA                  --       0.00%
91352   CA          483,986.54       0.06%
91354   CA                  --       0.00%
91355   CA                  --       0.00%
91356   CA          780,000.00       0.09%
91364   CA                  --       0.00%
91367   CA                  --       0.00%
91381   CA                  --       0.00%
91384   CA          307,641.75       0.04%
91401   CA                  --       0.00%
91402   CA          825,176.85       0.10%
91403   CA        1,246,789.42       0.15%
91405   CA                  --       0.00%
91406   CA          680,000.00       0.08%
91411   CA                  --       0.00%
91423   CA                  --       0.00%
91436   CA          749,405.93       0.09%
91501   CA                  --       0.00%
91502   CA                  --       0.00%
91504   CA                  --       0.00%
91505   CA          575,644.17       0.07%
91506   CA                  --       0.00%
91601   CA                  --       0.00%
91602   CA                  --       0.00%
91604   CA                  --       0.00%
91605   CA                  --       0.00%
91606   CA                  --       0.00%
91607   CA                  --       0.00%
91608   CA                  --       0.00%
91701   CA          616,098.52       0.07%
91702   CA          279,500.00       0.03%
91706   CA          380,000.00       0.05%
91709   CA          854,671.39       0.10%
91710   CA          495,684.35       0.06%
91711   CA                  --       0.00%
91722   CA                  --       0.00%
91723   CA                  --       0.00%
91724   CA          506,527.61       0.06%
91730   CA          577,043.28       0.07%
91731   CA                  --       0.00%
91732   CA          434,720.78       0.05%
91733   CA                  --       0.00%
91737   CA          800,603.57       0.10%
91739   CA          675,594.78       0.08%
91740   CA                  --       0.00%
91741   CA          124,205.54       0.01%
91743   CA                  --       0.00%
91744   CA          988,690.42       0.12%
91745   CA          478,702.40       0.06%
91746   CA          887,787.93       0.11%
91748   CA                  --       0.00%
91750   CA          391,052.04       0.05%
91752   CA        1,642,038.55       0.20%
91754   CA                  --       0.00%
91755   CA                  --       0.00%
91759   CA                  --       0.00%
91761   CA          628,941.62       0.08%
91762   CA                  --       0.00%
91763   CA          166,438.26       0.02%
91764   CA          968,170.93       0.12%
91765   CA          851,151.75       0.10%
91766   CA          504,976.10       0.06%
91767   CA          587,242.85       0.07%
91768   CA          743,542.58       0.09%
91770   CA          309,386.47       0.04%
91773   CA                  --       0.00%
91775   CA                  --       0.00%
91776   CA                  --       0.00%
91780   CA                  --       0.00%
91784   CA                  --       0.00%
91786   CA          303,552.79       0.04%
91789   CA          709,220.45       0.08%
91790   CA          144,692.53       0.02%
91791   CA                  --       0.00%
91792   CA          427,735.15       0.05%
91801   CA                  --       0.00%
91803   CA                  --       0.00%
92201   CA        1,566,251.86       0.19%
92203   CA          377,788.00       0.05%
92210   CA                  --       0.00%
92211   CA                  --       0.00%
92220   CA          631,303.98       0.08%
92223   CA          941,239.34       0.11%
92225   CA                  --       0.00%
92230   CA                  --       0.00%
92234   CA          648,207.99       0.08%
92236   CA          583,465.97       0.07%
92239   CA                  --       0.00%
92240   CA          471,787.69       0.06%
92241   CA                  --       0.00%
92242   CA                  --       0.00%
92252   CA                  --       0.00%
92253   CA          445,827.45       0.05%
92254   CA                  --       0.00%
92256   CA                  --       0.00%
92258   CA                  --       0.00%
92260   CA          204,201.60       0.02%
92262   CA          256,800.00       0.03%
92264   CA                  --       0.00%
92267   CA                  --       0.00%
92268   CA                  --       0.00%
92270   CA                  --       0.00%
92274   CA          458,618.44       0.05%
92276   CA                  --       0.00%
92277   CA          234,940.36       0.03%
92278   CA                  --       0.00%
92280   CA                  --       0.00%
92282   CA                  --       0.00%
92284   CA                  --       0.00%
92285   CA          151,399.91       0.02%
92301   CA          548,800.00       0.07%
92304   CA                  --       0.00%
92305   CA                  --       0.00%
92307   CA          927,466.20       0.11%
92308   CA           55,735.04       0.01%
92309   CA                  --       0.00%
92310   CA                  --       0.00%
92311   CA          315,813.20       0.04%
92313   CA                  --       0.00%
92314   CA                  --       0.00%
92315   CA          203,934.59       0.02%
92316   CA        1,280,768.02       0.15%
92317   CA                  --       0.00%
92318   CA                  --       0.00%
92320   CA                  --       0.00%
92321   CA                  --       0.00%
92323   CA                  --       0.00%
92324   CA          279,919.52       0.03%
92325   CA          758,267.05       0.09%
92327   CA                  --       0.00%
92332   CA                  --       0.00%
92333   CA                  --       0.00%
92335   CA        1,778,326.24       0.21%
92336   CA          488,000.00       0.06%
92337   CA          392,639.68       0.05%
92338   CA                  --       0.00%
92339   CA                  --       0.00%
92341   CA                  --       0.00%
92342   CA          244,500.97       0.03%
92345   CA        1,631,111.60       0.20%
92346   CA          797,086.83       0.10%
92347   CA                  --       0.00%
92352   CA                  --       0.00%
92354   CA          475,441.12       0.06%
92356   CA                  --       0.00%
92358   CA                  --       0.00%
92359   CA                  --       0.00%
92363   CA                  --       0.00%
92364   CA                  --       0.00%
92365   CA                  --       0.00%
92368   CA                  --       0.00%
92371   CA                  --       0.00%
92372   CA                  --       0.00%
92373   CA                  --       0.00%
92374   CA          579,424.61       0.07%
92376   CA        2,260,008.71       0.27%
92377   CA          364,000.00       0.04%
92382   CA                  --       0.00%
92386   CA                  --       0.00%
92392   CA          296,121.52       0.04%
92394   CA        1,072,833.78       0.13%
92397   CA                  --       0.00%
92398   CA                  --       0.00%
92399   CA          239,200.00       0.03%
92401   CA                  --       0.00%
92404   CA          263,060.31       0.03%
92405   CA           58,618.39       0.01%
92407   CA          367,735.24       0.04%
92408   CA          139,247.14       0.02%
92410   CA           44,871.61       0.01%
92411   CA          415,044.34       0.05%
92501   CA           70,270.94       0.01%
92503   CA          381,624.07       0.05%
92504   CA          254,263.59       0.03%
92505   CA          708,491.56       0.08%
92506   CA          732,909.87       0.09%
92507   CA           81,146.18       0.01%
92508   CA                  --       0.00%
92509   CA        3,070,690.53       0.37%
92518   CA                  --       0.00%
92530   CA        2,254,347.44       0.27%
92532   CA          367,508.62       0.04%
92536   CA                  --       0.00%
92539   CA                  --       0.00%
92543   CA                  --       0.00%
92544   CA                  --       0.00%
92545   CA          444,920.06       0.05%
92548   CA                  --       0.00%
92549   CA                  --       0.00%
92551   CA        1,368,146.29       0.16%
92553   CA          628,344.55       0.08%
92555   CA          548,690.81       0.07%
92557   CA          939,832.84       0.11%
92561   CA                  --       0.00%
92562   CA          780,943.03       0.09%
92563   CA        1,625,492.19       0.19%
92567   CA          397,600.00       0.05%
92570   CA                  --       0.00%
92571   CA        1,622,521.67       0.19%
92582   CA          775,227.54       0.09%
92583   CA          674,945.62       0.08%
92584   CA          865,211.43       0.10%
92585   CA           85,268.29       0.01%
92586   CA                  --       0.00%
92587   CA          244,824.60       0.03%
92590   CA                  --       0.00%
92591   CA          368,428.85       0.04%
92592   CA          538,926.44       0.06%
92595   CA           99,462.63       0.01%
92596   CA                  --       0.00%
92602   CA          578,905.35       0.07%
92604   CA                  --       0.00%
92606   CA                  --       0.00%
92610   CA                  --       0.00%
92612   CA                  --       0.00%
92614   CA                  --       0.00%
92618   CA                  --       0.00%
92620   CA                  --       0.00%
92624   CA                  --       0.00%
92625   CA                  --       0.00%
92626   CA          489,723.31       0.06%
92627   CA          589,967.43       0.07%
92629   CA                  --       0.00%
92630   CA          963,062.67       0.12%
92646   CA          589,718.03       0.07%
92647   CA          151,728.54       0.02%
92648   CA                  --       0.00%
92649   CA                  --       0.00%
92651   CA                  --       0.00%
92653   CA                  --       0.00%
92655   CA                  --       0.00%
92656   CA          553,251.85       0.07%
92657   CA                  --       0.00%
92660   CA          324,340.09       0.04%
92661   CA                  --       0.00%
92662   CA                  --       0.00%
92663   CA                  --       0.00%
92672   CA                  --       0.00%
92673   CA                  --       0.00%
92675   CA          283,828.30       0.03%
92676   CA                  --       0.00%
92677   CA                  --       0.00%
92679   CA                  --       0.00%
92683   CA        1,248,811.50       0.15%
92688   CA                  --       0.00%
92691   CA          159,753.15       0.02%
92692   CA          699,609.11       0.08%
92694   CA          546,080.00       0.07%
92701   CA          276,720.00       0.03%
92703   CA          859,609.37       0.10%
92704   CA        1,155,273.11       0.14%
92705   CA                  --       0.00%
92706   CA          407,602.26       0.05%
92707   CA          758,725.68       0.09%
92708   CA                  --       0.00%
92780   CA          150,143.87       0.02%
92782   CA          269,304.19       0.03%
92801   CA        1,922,567.22       0.23%
92802   CA          117,814.05       0.01%
92804   CA          977,028.81       0.12%
92805   CA          900,195.85       0.11%
92806   CA                  --       0.00%
92807   CA          855,000.00       0.10%
92808   CA                  --       0.00%
92821   CA          594,300.00       0.07%
92823   CA                  --       0.00%
92831   CA          463,373.34       0.06%
92832   CA          630,529.54       0.08%
92833   CA          418,627.43       0.05%
92835   CA                  --       0.00%
92840   CA          564,389.45       0.07%
92841   CA                  --       0.00%
92843   CA                  --       0.00%
92844   CA                  --       0.00%
92845   CA          848,545.18       0.10%
92860   CA          411,280.15       0.05%
92861   CA                  --       0.00%
92865   CA          511,549.35       0.06%
92866   CA                  --       0.00%
92867   CA          700,461.54       0.08%
92868   CA          295,438.24       0.04%
92869   CA          524,000.00       0.06%
92870   CA                  --       0.00%
92879   CA          954,671.28       0.11%
92880   CA        2,647,581.02       0.32%
92881   CA                  --       0.00%
92882   CA          984,074.47       0.12%
92883   CA        1,319,117.24       0.16%
92886   CA                  --       0.00%
92887   CA                  --       0.00%
93201   CA                  --       0.00%
93203   CA                  --       0.00%
93205   CA                  --       0.00%
93206   CA                  --       0.00%
93207   CA                  --       0.00%
93208   CA                  --       0.00%
93210   CA                  --       0.00%
93215   CA          503,237.36       0.06%
93216   CA                  --       0.00%
93218   CA                  --       0.00%
93219   CA                  --       0.00%
93221   CA                  --       0.00%
93222   CA                  --       0.00%
93223   CA                  --       0.00%
93224   CA                  --       0.00%
93225   CA                  --       0.00%
93226   CA                  --       0.00%
93234   CA                  --       0.00%
93235   CA                  --       0.00%
93238   CA                  --       0.00%
93240   CA                  --       0.00%
93241   CA          213,500.21       0.03%
93242   CA                  --       0.00%
93243   CA                  --       0.00%
93244   CA                  --       0.00%
93247   CA                  --       0.00%
93249   CA                  --       0.00%
93250   CA                  --       0.00%
93251   CA                  --       0.00%
93252   CA           79,763.61       0.01%
93255   CA                  --       0.00%
93256   CA                  --       0.00%
93257   CA          880,559.77       0.11%
93260   CA                  --       0.00%
93261   CA                  --       0.00%
93262   CA                  --       0.00%
93263   CA          614,084.09       0.07%
93265   CA                  --       0.00%
93267   CA                  --       0.00%
93268   CA                  --       0.00%
93270   CA          407,358.08       0.05%
93271   CA                  --       0.00%
93272   CA                  --       0.00%
93274   CA          475,478.44       0.06%
93276   CA                  --       0.00%
93277   CA          251,343.83       0.03%
93280   CA                  --       0.00%
93282   CA                  --       0.00%
93283   CA                  --       0.00%
93285   CA                  --       0.00%
93286   CA                  --       0.00%
93287   CA                  --       0.00%
93291   CA          729,910.02       0.09%
93292   CA          408,445.84       0.05%
93301   CA           66,959.28       0.01%
93304   CA          112,213.42       0.01%
93305   CA          244,892.71       0.03%
93306   CA          547,338.99       0.07%
93307   CA        1,167,329.58       0.14%
93308   CA                  --       0.00%
93309   CA          225,038.96       0.03%
93311   CA                  --       0.00%
93312   CA        1,469,083.42       0.18%
93313   CA          669,038.78       0.08%
93501   CA                  --       0.00%
93505   CA          415,578.49       0.05%
93510   CA                  --       0.00%
93516   CA                  --       0.00%
93518   CA                  --       0.00%
93523   CA                  --       0.00%
93527   CA                  --       0.00%
93528   CA                  --       0.00%
93531   CA                  --       0.00%
93532   CA          632,297.93       0.08%
93534   CA        1,771,857.25       0.21%
93535   CA        1,010,982.65       0.12%
93536   CA        1,669,401.19       0.20%
93543   CA                  --       0.00%
93544   CA                  --       0.00%
93550   CA        1,221,707.08       0.15%
93551   CA          867,555.44       0.10%
93552   CA          425,064.12       0.05%
93553   CA                  --       0.00%
93554   CA                  --       0.00%
93555   CA          220,183.97       0.03%
93560   CA          289,652.35       0.03%
93561   CA                  --       0.00%
93562   CA                  --       0.00%
93563   CA                  --       0.00%
93591   CA          269,412.95       0.03%
93601   CA                  --       0.00%
93602   CA                  --       0.00%
93603   CA                  --       0.00%
93604   CA                  --       0.00%
93605   CA                  --       0.00%
93606   CA                  --       0.00%
93608   CA                  --       0.00%
93609   CA                  --       0.00%
93610   CA          306,000.00       0.04%
93611   CA          462,003.04       0.06%
93612   CA                  --       0.00%
93614   CA          291,874.40       0.03%
93615   CA                  --       0.00%
93616   CA                  --       0.00%
93618   CA                  --       0.00%
93620   CA          224,000.00       0.03%
93621   CA                  --       0.00%
93622   CA                  --       0.00%
93624   CA                  --       0.00%
93625   CA                  --       0.00%
93626   CA                  --       0.00%
93627   CA                  --       0.00%
93628   CA                  --       0.00%
93630   CA                  --       0.00%
93631   CA                  --       0.00%
93634   CA                  --       0.00%
93635   CA          134,631.92       0.02%
93637   CA          298,994.33       0.04%
93638   CA          491,659.20       0.06%
93640   CA                  --       0.00%
93641   CA                  --       0.00%
93643   CA                  --       0.00%
93644   CA                  --       0.00%
93645   CA                  --       0.00%
93646   CA                  --       0.00%
93647   CA                  --       0.00%
93648   CA          402,871.90       0.05%
93650   CA                  --       0.00%
93651   CA                  --       0.00%
93652   CA                  --       0.00%
93653   CA                  --       0.00%
93654   CA          503,035.74       0.06%
93656   CA                  --       0.00%
93657   CA                  --       0.00%
93660   CA                  --       0.00%
93662   CA          219,726.46       0.03%
93664   CA                  --       0.00%
93665   CA                  --       0.00%
93666   CA                  --       0.00%
93667   CA                  --       0.00%
93668   CA                  --       0.00%
93669   CA                  --       0.00%
93673   CA                  --       0.00%
93675   CA                  --       0.00%
93701   CA                  --       0.00%
93702   CA          870,869.58       0.10%
93703   CA                  --       0.00%
93704   CA          351,000.00       0.04%
93705   CA          139,771.60       0.02%
93706   CA          335,875.52       0.04%
93710   CA          242,541.38       0.03%
93711   CA                  --       0.00%
93720   CA                  --       0.00%
93721   CA                  --       0.00%
93722   CA          555,344.96       0.07%
93725   CA                  --       0.00%
93726   CA          473,875.07       0.06%
93727   CA          284,778.74       0.03%
93728   CA          128,834.56       0.02%
94002   CA                  --       0.00%
94005   CA                  --       0.00%
94010   CA                  --       0.00%
94014   CA                  --       0.00%
94015   CA          863,343.00       0.10%
94019   CA                  --       0.00%
94020   CA                  --       0.00%
94021   CA                  --       0.00%
94025   CA          453,702.95       0.05%
94027   CA                  --       0.00%
94028   CA                  --       0.00%
94030   CA                  --       0.00%
94037   CA                  --       0.00%
94038   CA                  --       0.00%
94044   CA          499,997.00       0.06%
94060   CA                  --       0.00%
94061   CA                  --       0.00%
94062   CA                  --       0.00%
94063   CA                  --       0.00%
94065   CA                  --       0.00%
94066   CA                  --       0.00%
94070   CA                  --       0.00%
94074   CA                  --       0.00%
94080   CA                  --       0.00%
94102   CA                  --       0.00%
94103   CA                  --       0.00%
94104   CA                  --       0.00%
94105   CA                  --       0.00%
94107   CA          849,621.74       0.10%
94108   CA                  --       0.00%
94109   CA                  --       0.00%
94110   CA                  --       0.00%
94111   CA                  --       0.00%
94112   CA          878,971.31       0.11%
94114   CA                  --       0.00%
94115   CA                  --       0.00%
94116   CA                  --       0.00%
94117   CA                  --       0.00%
94118   CA                  --       0.00%
94121   CA                  --       0.00%
94122   CA                  --       0.00%
94123   CA                  --       0.00%
94124   CA                  --       0.00%
94127   CA                  --       0.00%
94128   CA                  --       0.00%
94129   CA                  --       0.00%
94130   CA                  --       0.00%
94131   CA                  --       0.00%
94132   CA                  --       0.00%
94133   CA                  --       0.00%
94134   CA                  --       0.00%
94401   CA                  --       0.00%
94402   CA                  --       0.00%
94403   CA                  --       0.00%
94404   CA                  --       0.00%
94508   CA                  --       0.00%
94510   CA                  --       0.00%
94512   CA                  --       0.00%
94515   CA                  --       0.00%
94533   CA        2,151,140.65       0.26%
94535   CA                  --       0.00%
94558   CA                  --       0.00%
94559   CA          420,000.00       0.05%
94567   CA                  --       0.00%
94571   CA                  --       0.00%
94574   CA                  --       0.00%
94576   CA                  --       0.00%
94585   CA          344,000.00       0.04%
94589   CA          906,160.91       0.11%
94590   CA          516,607.10       0.06%
94591   CA          737,976.00       0.09%
94592   CA                  --       0.00%
94599   CA                  --       0.00%
94901   CA                  --       0.00%
94903   CA                  --       0.00%
94904   CA                  --       0.00%
94920   CA                  --       0.00%
94924   CA                  --       0.00%
94925   CA                  --       0.00%
94929   CA                  --       0.00%
94930   CA                  --       0.00%
94933   CA                  --       0.00%
94937   CA                  --       0.00%
94938   CA                  --       0.00%
94939   CA          199,548.82       0.02%
94940   CA                  --       0.00%
94941   CA                  --       0.00%
94945   CA                  --       0.00%
94946   CA                  --       0.00%
94947   CA                  --       0.00%
94949   CA                  --       0.00%
94950   CA                  --       0.00%
94956   CA                  --       0.00%
94960   CA                  --       0.00%
94963   CA                  --       0.00%
94964   CA                  --       0.00%
94965   CA                  --       0.00%
94970   CA                  --       0.00%
94971   CA                  --       0.00%
94973   CA                  --       0.00%
95202   CA                  --       0.00%
95203   CA          360,866.65       0.04%
95204   CA          648,281.74       0.08%
95205   CA        1,016,362.19       0.12%
95206   CA          757,549.66       0.09%
95207   CA          381,610.98       0.05%
95209   CA          279,677.57       0.03%
95210   CA        1,015,916.74       0.12%
95212   CA                  --       0.00%
95215   CA          298,941.64       0.04%
95219   CA                  --       0.00%
95220   CA                  --       0.00%
95227   CA                  --       0.00%
95230   CA                  --       0.00%
95231   CA                  --       0.00%
95236   CA                  --       0.00%
95237   CA                  --       0.00%
95240   CA                  --       0.00%
95242   CA                  --       0.00%
95258   CA                  --       0.00%
95301   CA          413,028.97       0.05%
95303   CA                  --       0.00%
95307   CA          968,163.65       0.12%
95312   CA                  --       0.00%
95313   CA                  --       0.00%
95315   CA                  --       0.00%
95316   CA                  --       0.00%
95317   CA                  --       0.00%
95320   CA                  --       0.00%
95322   CA          256,246.14       0.03%
95323   CA                  --       0.00%
95324   CA                  --       0.00%
95326   CA                  --       0.00%
95328   CA                  --       0.00%
95329   CA                  --       0.00%
95330   CA          289,525.83       0.03%
95333   CA                  --       0.00%
95334   CA                  --       0.00%
95336   CA          720,396.59       0.09%
95337   CA          492,753.21       0.06%
95340   CA          333,571.03       0.04%
95348   CA          321,829.70       0.04%
95350   CA                  --       0.00%
95351   CA          731,277.70       0.09%
95354   CA          149,912.27       0.02%
95355   CA          760,735.22       0.09%
95356   CA          486,000.00       0.06%
95357   CA                  --       0.00%
95358   CA          547,945.83       0.07%
95360   CA                  --       0.00%
95361   CA          231,200.00       0.03%
95363   CA          420,905.06       0.05%
95365   CA                  --       0.00%
95366   CA                  --       0.00%
95367   CA                  --       0.00%
95368   CA          349,533.30       0.04%
95369   CA                  --       0.00%
95374   CA                  --       0.00%
95376   CA          459,416.30       0.06%
95380   CA          250,111.09       0.03%
95382   CA          495,257.89       0.06%
95385   CA                  --       0.00%
95386   CA          357,000.00       0.04%
95387   CA                  --       0.00%
95388   CA                  --       0.00%
95602   CA                  --       0.00%
95603   CA                  --       0.00%
95608   CA                  --       0.00%
95610   CA          154,900.04       0.02%
95613   CA                  --       0.00%
95614   CA                  --       0.00%
95615   CA                  --       0.00%
95619   CA                  --       0.00%
95620   CA                  --       0.00%
95621   CA          191,950.00       0.02%
95623   CA                  --       0.00%
95624   CA        1,250,714.02       0.15%
95625   CA                  --       0.00%
95626   CA                  --       0.00%
95628   CA          239,536.63       0.03%
95630   CA                  --       0.00%
95631   CA          412,081.08       0.05%
95632   CA        1,214,655.60       0.15%
95633   CA                  --       0.00%
95634   CA                  --       0.00%
95635   CA                  --       0.00%
95636   CA                  --       0.00%
95638   CA                  --       0.00%
95639   CA                  --       0.00%
95641   CA          212,800.00       0.03%
95648   CA        1,410,658.59       0.17%
95650   CA                  --       0.00%
95651   CA                  --       0.00%
95655   CA                  --       0.00%
95658   CA                  --       0.00%
95659   CA                  --       0.00%
95660   CA                  --       0.00%
95661   CA                  --       0.00%
95662   CA                  --       0.00%
95663   CA                  --       0.00%
95664   CA                  --       0.00%
95667   CA          310,926.86       0.04%
95668   CA                  --       0.00%
95670   CA           85,888.25       0.01%
95672   CA                  --       0.00%
95673   CA           58,928.13       0.01%
95674   CA                  --       0.00%
95676   CA                  --       0.00%
95677   CA                  --       0.00%
95678   CA          164,847.70       0.02%
95681   CA                  --       0.00%
95682   CA                  --       0.00%
95683   CA                  --       0.00%
95684   CA                  --       0.00%
95686   CA                  --       0.00%
95687   CA                  --       0.00%
95688   CA                  --       0.00%
95690   CA                  --       0.00%
95692   CA                  --       0.00%
95693   CA                  --       0.00%
95701   CA                  --       0.00%
95703   CA          244,825.49       0.03%
95709   CA                  --       0.00%
95713   CA                  --       0.00%
95714   CA                  --       0.00%
95715   CA                  --       0.00%
95717   CA                  --       0.00%
95720   CA                  --       0.00%
95721   CA                  --       0.00%
95722   CA                  --       0.00%
95726   CA                  --       0.00%
95735   CA                  --       0.00%
95736   CA                  --       0.00%
95742   CA                  --       0.00%
95746   CA                  --       0.00%
95747   CA          639,285.31       0.08%
95758   CA          763,906.13       0.09%
95762   CA                  --       0.00%
95765   CA                  --       0.00%
95814   CA                  --       0.00%
95815   CA                  --       0.00%
95816   CA                  --       0.00%
95817   CA                  --       0.00%
95818   CA          314,831.46       0.04%
95819   CA          315,531.33       0.04%
95820   CA          450,484.11       0.05%
95821   CA                  --       0.00%
95822   CA          249,656.50       0.03%
95823   CA        1,307,953.15       0.16%
95824   CA          194,257.18       0.02%
95825   CA                  --       0.00%
95826   CA                  --       0.00%
95827   CA                  --       0.00%
95828   CA        1,322,130.25       0.16%
95829   CA          662,160.00       0.08%
95830   CA                  --       0.00%
95831   CA                  --       0.00%
95832   CA                  --       0.00%
95833   CA          384,000.00       0.05%
95834   CA          271,746.43       0.03%
95835   CA          680,916.07       0.08%
95836   CA                  --       0.00%
95837   CA                  --       0.00%
95838   CA          741,551.16       0.09%
95841   CA                  --       0.00%
95842   CA                  --       0.00%
95843   CA           72,319.09       0.01%
95864   CA                  --       0.00%
95901   CA                  --       0.00%
95903   CA                  --       0.00%
95914   CA                  --       0.00%
95916   CA                  --       0.00%
95917   CA                  --       0.00%
95918   CA                  --       0.00%
95919   CA                  --       0.00%
95922   CA                  --       0.00%
95925   CA                  --       0.00%
95926   CA          490,122.09       0.06%
95928   CA                  --       0.00%
95930   CA                  --       0.00%
95935   CA                  --       0.00%
95938   CA                  --       0.00%
95941   CA                  --       0.00%
95942   CA                  --       0.00%
95948   CA                  --       0.00%
95953   CA                  --       0.00%
95954   CA                  --       0.00%
95957   CA                  --       0.00%
95961   CA                  --       0.00%
95962   CA                  --       0.00%
95965   CA           61,916.84       0.01%
95966   CA          225,573.36       0.03%
95968   CA                  --       0.00%
95969   CA                  --       0.00%
95972   CA                  --       0.00%
95973   CA                  --       0.00%
95974   CA                  --       0.00%
95977   CA                  --       0.00%
95978   CA                  --       0.00%
95981   CA                  --       0.00%
95982   CA                  --       0.00%
95991   CA          251,865.28       0.03%
95993   CA                  --       0.00%
96001   CA                  --       0.00%
96002   CA                  --       0.00%
96003   CA          289,600.00       0.03%
96007   CA                  --       0.00%
96008   CA                  --       0.00%
96011   CA                  --       0.00%
96013   CA                  --       0.00%
96016   CA                  --       0.00%
96017   CA                  --       0.00%
96019   CA          149,717.45       0.02%
96022   CA                  --       0.00%
96028   CA                  --       0.00%
96033   CA                  --       0.00%
96040   CA                  --       0.00%
96047   CA                  --       0.00%
96051   CA                  --       0.00%
96056   CA                  --       0.00%
96062   CA                  --       0.00%
96065   CA                  --       0.00%
96069   CA                  --       0.00%
96071   CA                  --       0.00%
96073   CA                  --       0.00%
96076   CA                  --       0.00%
96084   CA                  --       0.00%
96087   CA                  --       0.00%
96088   CA                  --       0.00%
96095   CA                  --       0.00%
96096   CA                  --       0.00%
96140   CA                  --       0.00%
96141   CA                  --       0.00%
96142   CA                  --       0.00%
96143   CA                  --       0.00%
96145   CA                  --       0.00%
96146   CA                  --       0.00%
96148   CA                  --       0.00%
96150   CA          214,331.71       0.03%
97004   OR                  --       0.00%
97005   OR          148,654.70       0.02%
97006   OR          163,200.00       0.02%
97007   OR          188,245.02       0.02%
97008   OR                  --       0.00%
97009   OR                  --       0.00%
97011   OR                  --       0.00%
97013   OR                  --       0.00%
97015   OR                  --       0.00%
97016   OR                  --       0.00%
97017   OR                  --       0.00%
97018   OR                  --       0.00%
97019   OR                  --       0.00%
97022   OR                  --       0.00%
97023   OR                  --       0.00%
97024   OR                  --       0.00%
97027   OR                  --       0.00%
97028   OR                  --       0.00%
97030   OR                  --       0.00%
97034   OR                  --       0.00%
97035   OR          412,462.81       0.05%
97038   OR          221,744.90       0.03%
97042   OR                  --       0.00%
97045   OR          351,634.92       0.04%
97048   OR                  --       0.00%
97049   OR          190,305.36       0.02%
97051   OR                  --       0.00%
97053   OR                  --       0.00%
97054   OR           98,546.63       0.01%
97055   OR                  --       0.00%
97056   OR                  --       0.00%
97060   OR          200,800.00       0.02%
97062   OR                  --       0.00%
97064   OR                  --       0.00%
97067   OR                  --       0.00%
97068   OR                  --       0.00%
97070   OR                  --       0.00%
97080   OR                  --       0.00%
97101   OR                  --       0.00%
97106   OR                  --       0.00%
97109   OR                  --       0.00%
97111   OR                  --       0.00%
97113   OR          193,317.53       0.02%
97114   OR                  --       0.00%
97115   OR                  --       0.00%
97116   OR                  --       0.00%
97117   OR                  --       0.00%
97119   OR                  --       0.00%
97123   OR                  --       0.00%
97124   OR                  --       0.00%
97125   OR                  --       0.00%
97127   OR                  --       0.00%
97128   OR          335,526.73       0.04%
97132   OR                  --       0.00%
97133   OR                  --       0.00%
97140   OR          191,824.82       0.02%
97144   OR                  --       0.00%
97148   OR                  --       0.00%
97201   OR                  --       0.00%
97202   OR                  --       0.00%
97203   OR                  --       0.00%
97204   OR                  --       0.00%
97205   OR                  --       0.00%
97206   OR                  --       0.00%
97209   OR                  --       0.00%
97210   OR          121,707.75       0.01%
97211   OR          185,448.02       0.02%
97212   OR                  --       0.00%
97213   OR                  --       0.00%
97214   OR                  --       0.00%
97215   OR                  --       0.00%
97216   OR                  --       0.00%
97217   OR          180,000.00       0.02%
97218   OR          199,817.41       0.02%
97219   OR                  --       0.00%
97220   OR                  --       0.00%
97221   OR                  --       0.00%
97222   OR          211,378.07       0.03%
97223   OR           79,610.61       0.01%
97224   OR                  --       0.00%
97225   OR          167,671.01       0.02%
97227   OR                  --       0.00%
97229   OR                  --       0.00%
97230   OR          155,742.99       0.02%
97231   OR                  --       0.00%
97232   OR                  --       0.00%
97233   OR          174,965.04       0.02%
97236   OR          378,981.40       0.05%
97266   OR                  --       0.00%
97267   OR                  --       0.00%
97378   OR                  --       0.00%
97396   OR                  --       0.00%
97401   OR          227,852.35       0.03%
97402   OR                  --       0.00%
97403   OR                  --       0.00%
97404   OR                  --       0.00%
97405   OR                  --       0.00%
97408   OR                  --       0.00%
97412   OR                  --       0.00%
97413   OR                  --       0.00%
97419   OR                  --       0.00%
97424   OR                  --       0.00%
97426   OR                  --       0.00%
97427   OR                  --       0.00%
97430   OR                  --       0.00%
97431   OR                  --       0.00%
97434   OR                  --       0.00%
97437   OR                  --       0.00%
97438   OR                  --       0.00%
97439   OR                  --       0.00%
97448   OR                  --       0.00%
97451   OR                  --       0.00%
97452   OR                  --       0.00%
97453   OR                  --       0.00%
97454   OR                  --       0.00%
97455   OR                  --       0.00%
97461   OR                  --       0.00%
97463   OR                  --       0.00%
97477   OR           99,873.02       0.01%
97478   OR                  --       0.00%
97480   OR                  --       0.00%
97487   OR                  --       0.00%
97488   OR                  --       0.00%
97489   OR                  --       0.00%
97490   OR                  --       0.00%
97492   OR                  --       0.00%
97493   OR                  --       0.00%
97501   OR          418,909.31       0.05%
97502   OR                  --       0.00%
97503   OR                  --       0.00%
97504   OR                  --       0.00%
97520   OR                  --       0.00%
97522   OR                  --       0.00%
97524   OR                  --       0.00%
97525   OR                  --       0.00%
97530   OR                  --       0.00%
97535   OR                  --       0.00%
97536   OR                  --       0.00%
97537   OR                  --       0.00%
97539   OR                  --       0.00%
97540   OR                  --       0.00%
97541   OR                  --       0.00%
98110   WA                  --       0.00%
98220   WA                  --       0.00%
98225   WA                  --       0.00%
98226   WA          401,058.26       0.05%
98230   WA                  --       0.00%
98240   WA                  --       0.00%
98244   WA                  --       0.00%
98247   WA                  --       0.00%
98248   WA                  --       0.00%
98262   WA                  --       0.00%
98264   WA                  --       0.00%
98281   WA                  --       0.00%
98295   WA                  --       0.00%
98310   WA                  --       0.00%
98311   WA          186,295.50       0.02%
98312   WA                  --       0.00%
98315   WA                  --       0.00%
98337   WA          159,896.07       0.02%
98340   WA                  --       0.00%
98342   WA                  --       0.00%
98345   WA                  --       0.00%
98346   WA                  --       0.00%
98353   WA                  --       0.00%
98359   WA                  --       0.00%
98364   WA                  --       0.00%
98366   WA          136,152.30       0.02%
98367   WA          114,143.70       0.01%
98370   WA                  --       0.00%
98380   WA                  --       0.00%
98383   WA                  --       0.00%
98392   WA                  --       0.00%
98601   WA                  --       0.00%
98604   WA                  --       0.00%
98606   WA                  --       0.00%
98607   WA                  --       0.00%
98629   WA                  --       0.00%
98642   WA                  --       0.00%
98660   WA          362,443.22       0.04%
98661   WA                  --       0.00%
98662   WA          171,813.06       0.02%
98663   WA                  --       0.00%
98664   WA          219,801.42       0.03%
98665   WA                  --       0.00%
98671   WA                  --       0.00%
98675   WA          174,806.10       0.02%
98682   WA                  --       0.00%
98683   WA                  --       0.00%
98684   WA          219,200.00       0.03%
98685   WA                  --       0.00%
98686   WA                  --       0.00%
                --------------      -----
                429,040,390.27      51.39%
                ==============      =====


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refer to important information and qualifications at the end of this material.



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                                        Note: Cells in red font are calculations

                        COLLATERAL CUTS FOR IXIS 2006-HE3

FICO SCORE



                        Total Balance                     Adjusted
                      -----------------                  Balance[1]        WA Loan         % Covered by    WA
FICO                     Amount    %[2]       LTV          Amount    %[2]  Balance   WAC   Mortgage Ins.  FICO  WA LTV  WA DTI
----                  -----------  ----  -------------  -----------  ----  -------  -----  -------------  ----  ------  ------

FICO NA                         0    0%  > 65.0                   0    0%
0 - 500                 1,982,483    0%  > 65.0           1,539,124    0%  152,499  9.838             --   500   72.18   43.10
500.01 - 550          100,036,995   12%  > 70.0          63,111,215    8%  169,554  9.395             --   526   72.72   42.20
550.01 - 575           63,624,535    8%  > 70.0          50,987,383    6%  181,784  8.907             --   563   77.54   42.39
575.01 - 600           87,827,159   11%  > 70.0          75,028,386    9%  184,899  8.655             --   589   80.19   42.59
600.01 - 620          113,172,025   14%  > 70.0         101,727,296   12%  201,733  8.355             --   610   81.53   42.42
620.01 - 650          194,963,852   23%  > 80.0          64,130,132    8%  198,134  8.329             --   635   81.51   43.10
650.01 - 680          136,887,737   16%  > 80.0          40,304,622    5%  215,232  8.130             --   664   81.74   43.38
680.01 - 700           54,457,129    7%  > 85.0          10,753,537    1%  229,777  8.059             --   690   81.52   42.86
700.01 - 750           59,589,576    7%  > 85.0          13,709,113    2%  219,888  8.026             --   721   82.89   42.77
750.01 - 800           21,416,951    3%  > 85.0           3,218,527    0%  254,964  7.881             --   769   81.28   42.44
800 +                     975,860    0%  > 85.0          351,912.20    0%  162,643  7.833             --   807   86.00   45.68
                      -----------  ---                  -----------  ---   -------  -----            ---   ---   -----   -----
TOTAL:                834,934,301  100%                 424,861,247   51%  198,463  8.458             --   626   80.13   42.79
                      ===========  ===                  ===========  ===   =======  =====            ===   ===   =====   =====
FICO: AVERAGE                 626        NON-ZERO MIN:          500  MAX:      814


                                               CLTV w/
                             % W/ Piggyback   piggyback   % SFD/  % Owner  % Full  % Cashout
FICO                   % IO   second liens   second lien   PUD      Occ.     Doc      Refi
----                  -----  --------------  -----------  ------  -------  ------  ---------

FICO NA
0 - 500                0.00            0.00        72.18  100.00   100.00   84.89      88.53
500.01 - 550           0.22            3.19        73.18   89.37    98.15   59.39      86.43
550.01 - 575           1.04            5.23        78.21   92.34    96.86   56.66      81.48
575.01 - 600           5.52           15.38        83.01   89.14    93.72   54.62      71.18
600.01 - 620          24.58           33.96        88.06   87.28    93.39   53.08      54.75
620.01 - 650          22.22           47.03        90.72   82.25    92.08   35.33      44.67
650.01 - 680          30.66           59.28        93.31   82.57    90.79   25.40      39.22
680.01 - 700          32.56           56.40        92.48   74.63    87.59   25.79      31.85
700.01 - 750          29.77           64.20        95.44   77.61    85.82   25.61      19.45
750.01 - 800          35.35           65.52        94.03   76.62    89.60   19.59      15.53
800 +                 63.94           63.94        98.78  100.00   100.00   12.17      33.29
                      -----           -----        -----  ------   ------   -----      -----
TOTAL:                19.46           37.72        87.42   84.42    92.54   41.02      52.45
                      =====           =====        =====  ======   ======   =====      =====
FICO: AVERAGE


DEBT TO INCOME (DTI) RATIO



                        Total Balance                     Adjusted
                      -----------------                  Balance[1]        WA Loan         % Covered by    WA
DTI                      Amount    %[2]       FICO         Amount    %[2]  Balance   WAC   Mortgage Ins.  FICO  WA LTV  WA DTI
---                   -----------  ----  -------------  -----------  ----  -------  -----  -------------  ----  ------  ------

<= 20                  17,101,392    2%  < 550            2,394,807    0%  161,334  8.383             --   625   75.86   13.99
20.001 - 25.00         16,047,340    2%  < 550            3,882,502    0%  144,571  8.724             --   602   80.30   22.73
25.001 - 30.00         31,652,726    4%  < 575            6,252,338    1%  164,858  8.507             --   625   79.32   27.89
30.001 - 35.00         55,348,836    7%  < 575           14,224,325    2%  173,507  8.476             --   615   77.42   32.76
35.001 - 40.00        104,558,477   13%  < 600           30,668,151    4%  182,158  8.412             --   623   79.73   37.74
40.001 - 45.00        232,650,008   28%  < 625           96,417,325   12%  207,909  8.425             --   634   80.20   42.78
45.001 - 50.00        295,759,293   35%  < 650          194,402,570   23%  212,471  8.489             --   629   81.23   47.69
50.001 - 55.00         74,787,971    9%  < 675           65,305,337    8%  203,228  8.473             --   609   79.41   52.26
55+                     7,028,257    1%  < 700            6,783,756    1%  270,318  8.008             --   625   80.21   57.78
                      -----------  ---                  -----------  ---   -------  -----            ---   ---   -----   -----
TOTAL:                834,934,301  100%                 420,331,111   50%  198,463  8.458             --   626   80.13   42.79
                      ===========  ===                  ===========  ===   =======  =====            ===   ===   =====   =====
DTI: AVERAGE                42.79        MIN:                  1.78  MAX:    59.92


                                               CLTV w/
                             % W/ Piggyback   piggyback   % SFD/  % Owner  % Full  % Cashout
DTI                    % IO   second liens   second lien   PUD      Occ.     Doc      Refi
---                   -----  --------------  -----------  ------  -------  ------  ---------

<= 20                  6.38           26.90        81.00   82.86    83.12   48.10      61.93
20.001 - 25.00        14.22           11.51        82.61   82.47    80.62   61.53      64.61
25.001 - 30.00        14.03           31.23        85.13   84.82    87.09   60.08      54.28
30.001 - 35.00        16.09           19.47        81.13   83.79    90.47   46.45      62.36
35.001 - 40.00        21.45           31.89        86.05   87.55    91.58   46.77      56.17
40.001 - 45.00        21.85           42.18        88.41   83.04    95.26   31.49      48.96
45.001 - 50.00        21.14           43.94        89.73   85.24    93.55   36.31      49.20
50.001 - 55.00        12.53           31.15        85.12   83.35    89.87   60.99      57.69
55+                    9.11           43.36        88.88   71.71    92.97   63.33      56.31
                      -----           -----        -----   -----    -----   -----      -----
TOTAL:                19.46           37.72        87.42   84.42    92.54   41.02      52.45
                      =====           =====        =====   =====    =====   =====      =====
DTI: AVERAGE


LOAN TO VALUE (LTV) RATIO



                        Total Balance                    Adjusted
                      -----------------                 Balance[1]        WA Loan          % Covered by    WA
LTV                      Amount    %[2]       DTI         Amount    %[2]  Balance    WAC   Mortgage Ins.  FICO  WA LTV  WA DTI
---                   -----------  ----  -------------  ----------  ----  -------  ------  -------------  ----  ------  ------

Less than 60.00        42,183,657    5%  > 50            4,160,934    0%  163,503   8.127             --   593   48.50   40.69
60.01 - 70.00          60,586,977    7%  > 50            8,522,995    1%  192,952   8.669             --   578   66.78   41.58
70.01 - 79.99         109,159,361   13%  > 50           13,867,216    2%  213,202   8.293             --   599   76.06   42.42
80.00                 359,477,638   43%  > 50           30,062,528    4%  234,187   8.083             --   646   80.00   43.37
80.01 - 85.00          87,800,198   11%  > 50            6,241,916    1%  200,916   8.668             --   606   84.51   42.14
85.01 - 90.00          98,133,687   12%  > 50           12,031,592    1%  218,561   8.684             --   627   89.55   43.00
90.01 - 95.00          39,254,353    5%  > 50            4,417,601    1%  202,342   8.969             --   643   94.65   42.79
95.01 - 100.00         38,338,430    5%  > 50            2,511,446    0%   75,469  10.898             --   652   99.87   43.50
100+                            0    0%  > 50                    0    0%
                      -----------  ---                  ----------  ---   -------  ------            ---   ---   -----   -----
TOTAL:                834,934,301  100%                 81,816,229   10%  198,463   8.458             --   626   80.13   42.79
                      ===========  ===                  ==========  ===   =======  ======            ===   ===   =====   =====
LTV: AVERAGE                80.13        MIN:                14.63  MAX:   100.00


                                               CLTV w/
                             % W/ Piggyback   piggyback   % SFD/  % Owner  % Full  % Cashout
LTV                    % IO   second liens   second lien   PUD      Occ.     Doc      Refi
---                   -----  --------------  -----------  ------  -------  ------  ---------

Less Than 60.00        7.85            1.50        48.82   81.85    90.85   50.89      90.73
60.01 - 70.00          7.10            0.99        67.05   82.54    92.24   44.51      90.44
70.01 - 79.99         15.50           17.34        79.54   86.26    95.12   44.37      75.13
80.00                 28.17           78.66        95.44   83.21    96.07   33.59      28.59
80.01 - 85.00         14.31            5.79        85.32   86.70    87.74   47.64      77.26
85.01 - 90.00         17.99            6.01        90.05   84.12    85.72   46.88      66.65
90.01 - 95.00         15.66            2.56        94.78   90.56    76.58   59.42      51.87
95.01 - 100.00         0.86            0.00        99.87   85.62    99.13   35.71      16.86
100+
                      -----           -----        -----   -----    -----   -----      -----
TOTAL:                19.46           37.72        87.42   84.42    92.54   41.02      52.45
                      =====           =====        =====   =====    =====   =====      =====
LTV: AVERAGE


[1]  Balance of the collateral cut with second qualifier, i.e. (LTV), FICO, DTI
     etc.

All other cuts except the adjusted balance are only for the main bucket

[2]  Percent of the Aggregate Principal Balance - calculated automatically.

TOP 10 ORIGINATORS



   Originator       %[2]
   ----------      -----

First NLC          39.01
New Century        16.42
Accredited         12.16
Encore              9.80
Master Financial    5.96
Rose Mortgage       5.07
First Horizon       3.85
Lime Financial      1.52
First Banc          1.51
Lenders Direct      1.05


TOP 10 SERVICERS



    Servicer        %[2]
    --------       -----

Saxon              94.04
Master Financial    5.96


TOP 10 MSA



                         MSA                            %[2]
                         ---                           -----

Los Angeles-Riverside-Orange County-CA                 19.51
Chicago-Gary-Kenosha-IL-IN-WI                           6.52
New York-Northern New Jersey-Long Island-NY-NJ-CT-PA    6.41
Unknown                                                 5.93
Miami-Fort Lauderdale-FL                                5.70
San Francisco-Oakland-San Jose-CA                       4.81
Washington-Baltimore-DC-MD-VA-WV                        4.01
Phoenix-Mesa-AZ                                         3.29
Las Vegas-NV-AZ                                         2.22
Boston-Worcester-Lawrence-MA-NH-ME-CT                   2.08


TOP 10 INVESTOR MSA



                    Investor MSA                        %[2]
                    ------------                       -----

Los Angeles-Riverside-Orange County-CA                 21.53
Chicago-Gary-Kenosha-IL-IN-WI                           9.13
Miami-Fort Lauderdale-FL                                6.06
New York-Northern New Jersey-Long Island-NY-NJ-CT-PA    5.04
Unknown                                                 5.03
San Francisco-Oakland-San Jose-CA                       3.96
Washington-Baltimore-DC-MD-VA-WV                        2.98
Tampa-St. Petersburg-Clearwater-FL                      2.56
Atlanta-GA                                              1.78
Sacramento-Yolo-CA                                      1.70


GEOGRAPHIC CONCENTRATION - TOP 5 STATES



                        Total Balance
                      -----------------  WA Loan                                   % W/ Piggyback  % Owner  % NINA/
STATE                    Amount    %[2]  Balance  WAC FICO  WA LTV  WA DTI   % IO   second liens     Occ.    Stated
-----                 -----------  ----  -------  --------  ------  ------  -----  --------------  -------  -------

California            271,051,190   32%  296,231       641   80.11   43.43  32.79           47.41    93.29    64.17
Florida               119,157,019   14%  178,914       622   79.54   42.90  16.12           32.69    89.69    59.39
Illinois               57,253,943    7%  177,257       622   81.62   43.86   7.46           33.67    91.99    57.67
New York               41,732,227    5%  300,232       650   76.69   42.92  17.12           38.19    95.45    63.58
Arizona                31,983,040    4%  182,760       612   78.87   42.12  23.99           33.48    97.52    55.48
Other                 313,756,882   38%  157,746       614   80.69   42.03  11.26           32.36    92.17    42.87
                      -----------  ---   -------       ---   -----   -----  -----           -----    -----    -----
TOTAL:                834,934,301  100%  198,463       626   80.13   42.79  19.46           37.72    92.54    54.68
                      ===========  ===   =======       ===   =====   =====  =====           =====    =====    =====


PRINCIPAL BALANCE



                          Total Balance
Scheduled Principal   --------------------                                       % W/ Piggyback  % NINA/
Balance                  Amount       %[2]  WA FICO  WA LTV  WA DTI     % IO     second liens    Stated
-------------------   -----------  -------  -------  ------  ------  ---------  --------------  -------

0 - $50K                9,283,424       1%      634      94      40         --               1       55
$50 - $100K            59,415,787       7%      615      84      40          2              21       45
$100 - $300K          437,666,023      52%      616      79      43         14              34       49
$300 - $500K          236,521,436      28%      637      80      44         29              47       64
$500 - $800K           87,366,094      10%      649      81      43         35              45       64
$800 - $1M              3,681,538       0%      654      83      43         23              --       --
$1M+                    1,000,000       0%      635      71      32        100              --      100
                      -----------     ---       ---     ---     ---        ---             ---      ---
TOTAL                 834,934,301     100%      626      80      43         19              38       55
                      ===========     ===       ===     ===     ===        ===             ===      ===
PRINCIPAL BALANCE:
   AVERAGE                         198,463     MIN:  14,774    MAX:  1,000,000


DOCUMENTATION TYPE



                        Total Balance
                      -----------------         WA Loan                                  % W/ Piggyback  % Owner  % Cashout
Doc Type                 Amount    %[2]   WAC   Balance  WA FICO  WA LTV  WA DTI   % IO   second liens     Occ.      Refi
--------              -----------  ----  -----  -------  -------  ------  ------  -----  --------------  -------  ---------

Full Doc              342,451,104   41%  8.246  180,522      607   80.02   42.19  17.67           28.57    93.63      61.77
Stated Doc            456,501,438   55%  8.630  213,618      641   80.07   43.49  20.31           44.47    92.03      45.75
Limited Doc            35,981,758    4%  8.300  207,987      619   81.92   39.66  25.71           39.12    88.61      48.70
NINA                            0    0%
Other                           0    0%
                      -----------  ---   -----  -------      ---   -----   -----  -----           -----    -----      -----
TOTAL:                834,934,301  100%  8.458  198,463      626   80.13   42.79  19.46           37.72    92.54      52.45
                      ===========  ===   =====  =======      ===   =====   =====  =====           =====    =====      =====
                                     0%


PROPERTY TYPE



                        Total Balance
                      -----------------  WA Loan                                  % W/ Piggyback  % Owner  % Cashout  % NINA/
Property Type            Amount    %[2]  Balance  WA FICO  WA LTV  WA DTI   % IO   second liens     Occ.      Refi     Stated
-------------         -----------  ----  -------  -------  ------  ------  -----  --------------  -------  ---------  -------

Single Family         640,465,570   77%  190,728      622   80.32   42.85  18.81           36.38    94.30      54.99    53.62
PUD                    53,080,620    6%  245,744      628   80.00   41.86  23.41           45.75    94.08      46.47    49.76
Townhouse              11,308,545    1%  179,501      621   79.03   43.47  25.15           43.78    94.99      58.55    48.26
2-4 Family             78,056,397    9%  260,188      645   78.31   42.95  16.92           35.13    79.65      48.97    65.33
Condo                  52,023,168    6%  192,678      641   80.96   42.52  26.09           48.51    88.06      31.14    58.07
Manufactured                    0    0%
Other                           0    0%
                      -----------  ---   -------      ---   -----   -----  -----           -----    -----      -----    -----
TOTAL:                834,934,301  100%  198,463      626   80.13   42.79  19.46           37.72    92.54      52.45    54.68
                      ===========  ===   =======      ===   =====   =====  =====           =====    =====      =====    =====


PRIMARY MORTGAGE INSURANCE



                        Total Balance
                      -----------------  Is MI down
Mortgage Insurance       Amount    %[2]  to 60 LTV
------------------    -----------  ----  ----------

Loans >80 LTV w/MI             --    0%
Loans >80 LTV w/o MI  234,651,247   28%          --
Other                 600,283,054   72%          --
                      -----------  ---          ---
TOTAL:                834,934,301  100%          --
                      ===========  ===          ===


LOAN PURPOSE



                        Total Balance
                      -----------------                                  % W/ Piggyback  % Owner
Loan Purpose             Amount    %[2]  WA FICO  WA LTV  WA DTI   % IO   second liens     Occ.
------------          -----------  ----  -------  ------  ------  -----  --------------  -------

Refinance - Cashout   437,916,030   52%      603   77.84   42.40  14.25           11.29    93.28
Purchase              357,138,841   43%      656   82.85   43.36  26.62           72.92    91.51
Refinance - Rate
   Term                39,879,430    5%      614   80.94   41.84  12.58           12.63    93.51
Other                          --    0%
                      -----------  ---       ---   -----   -----  -----           -----    -----
TOTAL:                834,934,301  100%      626   80.13   42.79  19.46           37.72    92.54
                      ===========  ===       ===   =====   =====  =====           =====    =====


FIXED VS. FLOATING COLLATERAL



                         Total Balance
                      -------------------                                   % W/ Piggyback  % Owner  % Cashout
Product                  Amount     %[2]   WA FICO  WA LTV  WA DTI   % IO    second liens     Occ.      Refi
-------               -----------  ------  -------  ------  ------  ------  --------------  -------  ---------

Fixed                 110,194,672   13.20%     631   82.69   41.85    4.37         9.62       94.66      58.24
Floating                  542,838    0.07%     602   84.95   47.25      --           --      100.00      50.54
2/28                  441,991,310   52.94%     620   79.54   42.73      --        37.58       89.26      53.38
2/28 2yr IO               431,400    0.05%     606   79.45   29.07  100.00        48.77      100.00      51.23
2/28 5yr IO           132,088,152   15.82%     658   80.77   43.38  100.00        67.39       98.38      34.04
3/27                  122,518,576   14.67%     601   79.26   43.13      --        27.97       95.76      63.44
3/27 3yr IO               639,500    0.08%     631   77.28   39.93  100.00        69.43      100.00      64.35
3/27 5yr IO            22,362,444    2.68%     666   80.65   43.30  100.00        59.26       95.77      50.62
5/25                    1,990,884    0.24%     631   76.09   42.15      --        26.61       75.77      82.41
5/25 5yr IO             1,418,400    0.17%     686   76.10   42.26  100.00        12.69      100.00      87.31
IO Other                  756,125    0.09%     646   82.08   45.66  100.00        36.86       75.31         --
MTA                                  0.00%
CFI                                  0.00%
                      -----------  ------      ---   -----   -----  ------        -----      ------      -----
TOTAL                 834,934,301  100.00%     626   80.13   42.79   19.46        37.72       92.54      52.45
                      ===========  ======      ===   =====   =====  ======        =====      ======      =====


*    Fill out complete list of mortgage loans including IO's

LIEN STATUS



                        Total Balance
                      -----------------  WA Loan                                  % W/ Piggyback  % Owner
Lein Status              Amount    %[2]  Balance  WA FICO  WA LTV  WA DTI   % IO   second liens     Occ.
-----------           -----------  ----  -------  -------  ------  ------  -----  --------------  -------

First Lien            805,760,512   97%  215,042      625   79.43   42.75  20.17           39.08    92.29
Second Lien            29,173,789    3%   63,421      657   99.52   43.71   0.00            0.00    99.38
                      -----------  ---   -------      ---   -----   -----  -----           -----    -----
TOTAL:                834,934,301  100%  198,463      626   80.13   42.79  19.46           37.72    92.54
                      ===========  ===   =======      ===   =====   =====  =====           =====    =====


OCCUPANCY STATUS



                        Total Balance
                      -----------------         % Covered by    WA                          % W/ Piggyback  % Cashout
Occupancy Type           Amount    %[2]   WAC   Mortgage Ins.  FICO  WA LTV  WA DTI   % IO   second liens      Refi
--------------        -----------  ----  -----  -------------  ----  ------  ------  -----  --------------  ---------

Primary Residence     772,614,335   93%  8.414             --   624   79.97   42.96  20.57           39.84      52.87
Second Home            12,666,712    2%  8.902             --   652   82.77   43.72  14.23           40.73      30.46
Investment             49,653,254    6%  9.026             --   652   81.90   39.87   3.59            3.95      51.46
Non-owner                       0    0%
Other                           0    0%
                      -----------  ---   -----            ---   ---   -----   -----  -----           -----      -----
TOTAL:                834,934,301  100%  8.458             --   626   80.13   42.79  19.46           37.72      52.45
                      ===========  ===   =====            ===   ===   =====   =====  =====           =====      =====


PREPAYMENT PENALTY



                        Total Balance
Prepayment Charges    -----------------         % W/ Piggyback
Term at Origination      Amount    %[2]   % IO   second liens
-------------------   -----------  ----  -----  --------------

0 Months              216,979,403   26%  14.29           31.27
6 Months                3,489,711    0%  32.86           67.39
12 Months              68,168,035    8%  21.84           45.07
24 Months             372,728,763   45%  23.92           44.49
36 Months             164,152,599   20%  15.54           28.26
60 Months               7,862,880    1%   7.73           15.75
Other                   1,552,911    0%  11.59           34.00
                      -----------  ---   -----           -----
TOTAL:                834,934,301  100%  19.46           37.72
                      ===========  ===   =====           =====


SECTION 32 LOANS



                      Total Balance
                      -------------
                       Amount  %[2]  WA FICO  WA LTV  WA DTI
                       ------  ----  -------  ------  ------

Section 32 Loans            0     0%       0       0
                          ---            ---     ---
TOTAL:                     --              0       0
                          ===            ===     ===




                                        Note: Cells in red font are calculations

COLLATERAL CUTS FOR 2ND LIEN LOANS

FICO SCORE



                                                                 Adjusted                       % Covered
                              Total Balance                     Balance[1]                          by
                            ----------------                 ----------------  WA Loan           Mortgage
FICO                          Amount    %[2]       LTV         Amount    %[2]  Balance    WAC      Ins.
----                        ----------  ----  -------------  ----------  ----  -------  ------  ---------

FICO NA                              0    0%  > 65.0                  0    0%
0 - 500                         71,523    0%  > 65.0             71,523    0%   35,761  11.118         --
500.01 - 550                         0    0%  > 70.0                  0    0%
550.01 - 575                   117,814    0%  > 70.0            117,814    0%  117,814  12.500         --
575.01 - 600                   883,215    3%  > 70.0            883,215    3%   49,068  12.372         --
600.01 - 620                 3,253,388   11%  > 70.0          3,253,388   11%   60,248  11.708         --
620.01 - 650                10,548,268   36%  > 80.0         10,548,268   36%   59,933  11.877         --
650.01 - 680                 7,211,576   25%  > 80.0          7,211,576   25%   68,034  11.435         --
680.01 - 700                 2,987,376   10%  > 85.0          2,987,376   10%   64,943  10.969         --
700.01 - 750                 2,674,703    9%  > 85.0          2,674,703    9%   63,683  10.671         --
750.01 - 800                 1,192,772    4%  > 85.0            894,405    3%   99,398  10.358         --
800 +                          233,153    1%  > 85.0         233,152.91    1%   77,718   9.934         --
                            ----------  ---                  ----------   --   -------  ------        ---
TOTAL:                      29,173,789  100%                 28,875,421   99%   63,421  11.483         --
                            ==========  ===                  ==========   ==   =======  ======        ===
FICO: AVERAGE                      657        NON-ZERO MIN:         500  MAX:      809
                                   ---                              ---            ---




                             WA
FICO                        FICO  WA LTV  WA DTI  % SFD/ PUD  % Owner Occ.  % Full Doc  % Cashout Refi
----                        ----  ------  ------  ----------  ------------  ----------  --------------

FICO NA
0 - 500                      500  100.00   43.98      100.00        100.00       42.73              --
500.01 - 550
550.01 - 575                 571  100.00   29.78      100.00        100.00      100.00              --
575.01 - 600                 593  100.00   42.77       81.68        100.00       63.54              --
600.01 - 620                 613   99.77   44.36       82.81        100.00       54.53           15.36
620.01 - 650                 634   99.92   43.29       85.78         99.57       13.94            9.54
650.01 - 680                 663   99.66   44.89       80.58         99.53       11.81           14.35
680.01 - 700                 688   99.81   42.60       87.20         98.11       27.96           14.86
700.01 - 750                 720   99.93   43.08       66.69        100.00       26.27              --
750.01 - 800                 775   92.27   44.26       89.11         96.20       25.01           25.01
800 +                        805  100.00   46.18      100.00        100.00          --           27.83
                             ---  ------   -----      ------        ------      ------           -----
TOTAL:                       657   99.52   43.71       82.78         99.38       22.77           11.47
                             ===  ======   =====      ======        ======      ======           =====
FICO: AVERAGE



DEBT TO INCOME (DTI) RATIO



                                                         Adjusted                       % Covered
                              Total Balance             Balance[1]                          by
                            ----------------         ----------------  WA Loan           Mortgage
DTI                           Amount    %[2]   FICO    Amount    %[2]  Balance    WAC      Ins.
---                         ----------  ----  -----  ----------  ----  -------  ------  ---------

<= 20                          284,532    1%  < 550           0    0%   71,133  11.055         --
20.001 - 25.00                 393,336    1%  < 550           0    0%   49,167  10.891         --
25.001 - 30.00                 733,283    3%  < 575     117,814    0%   73,328  11.778         --
30.001 - 35.00               1,062,117    4%  < 575           0    0%   42,485  11.693         --
35.001 - 40.00               3,621,866   12%  < 600      98,221    0%   55,721  11.249         --
40.001 - 45.00               8,615,275   30%  < 625   1,212,182    4%   68,375  11.356         --
45.001 - 50.00              12,340,272   42%  < 650   6,729,780   23%   65,991  11.652         --
50.001 - 55.00               1,886,856    6%  < 675   1,448,102    5%   58,964  11.509         --
55+                            236,252    1%  < 700     187,360    1%   78,751  10.333         --
                            ----------  ---           ---------   --    ------  ------        ---
TOTAL:                      29,173,789  100%          9,793,459   34%   63,421  11.483         --
                            ==========  ===           =========   ==    ======  ======        ===
DTI: AVERAGE                     43.71        MIN:         1.78  MAX:    59.24
                                 -----                     ----          -----




                             WA
DTI                         FICO  WA LTV  WA DTI  % SFD/ PUD  % Owner Occ.  % Full Doc  % Cashout Refi
---                         ----  ------  ------  ----------  ------------  ----------  --------------

<= 20                        645  100.00    7.68      100.00        100.00       60.68           24.58
20.001 - 25.00               645   99.49   22.70      100.00        100.00       42.18           28.94
25.001 - 30.00               629  100.00   28.63      100.00        100.00       50.44            6.54
30.001 - 35.00               659  100.00   32.17       65.56        100.00       23.49            6.34
35.001 - 40.00               659   99.72   38.14       85.92         97.50       24.69           14.60
40.001 - 45.00               667   99.82   42.67       83.48         99.34       19.31           10.21
45.001 - 50.00               652   99.10   47.74       81.13         99.72       17.20           10.88
50.001 - 55.00               651   99.90   51.80       81.54        100.00       46.36           11.55
55+                          679  100.00   58.34       79.31        100.00       54.38           33.68
                             ---  ------   -----      ------        ------       -----           -----
TOTAL:                       657   99.52   43.71       82.78         99.38       22.77           11.47
                             ===  ======   =====      ======        ======       =====           =====
DTI: AVERAGE



LOAN TO VALUE (LTV) RATIO



                                                          Adjusted                        % Covered
                              Total Balance              Balance[1]                           by
                            ----------------         ------------------  WA Loan           Mortgage
LTV                           Amount    %[2]   DTI     Amount     %[2]   Balance    WAC      Ins.
---                         ----------  ----  -----  ---------  -------  -------  ------  ---------

Less than or
   equal to 60.00                    0    0%  > 50           0       0%
60.01 - 70.00                        0    0%  > 50           0       0%
70.01 - 80.00                  298,368    1%  > 50           0       0%  298,368   8.650         --
80.01 - 85.00                        0    0%  > 50           0       0%
85.01 - 90.00                  151,075    1%  > 50           0       0%   50,358  11.420         --
90.01 - 95.00                  631,539    2%  > 50      24,719       0%   48,580  11.183         --
95.01 - 100.00              28,092,807   96%  > 50   2,098,390       7%   63,415  11.520         --
100+                                 0    0%  > 50           0       0%
                            ----------  ---          ---------     ---   -------  ------        ---
TOTAL:                      29,173,789  100%         2,123,108       7%   63,421  11.483         --
                            ==========  ===          =========     ===   =======  ======        ===
LTV: AVERAGE                     99.52  MIN:  70.63  MAX:       100.00
                                 -----        -----             ------




                             WA
LTV                         FICO  WA LTV  WA DTI  % SFD/ PUD  % Owner Occ  % Full Doc  % Cashout Refi
---                         ----  ------  ------  ----------  -----------  ----------  --------------

Less than or
   equal to 60.00
60.01 - 70.00
70.01 - 80.00                785   70.63   45.45      100.00       100.00      100.00          100.00
80.01 - 85.00
85.01 - 90.00                659   89.12   45.00      100.00        77.52          --           77.52
90.01 - 95.00                666   94.83   42.20       94.88        83.87       28.23           56.63
95.01 - 100.00               656   99.99   43.72       82.23        99.84       21.94            9.16
100+
                             ---   -----   -----      ------       ------      ------          ------
TOTAL:                       657   99.52   43.71       82.78        99.38       22.77           11.47
                             ===   =====   =====      ======       ======      ======          ======
LTV: AVERAGE



OCCUPANCY STATUS



                                                               % Covered
                              Total Balance                        by
                            ----------------  WA Loan           Mortgage   WA                   % SFD/  % Owner  % Cashout
Occupancy Type                Amount    %[2]  Balance    WAC      Ins.    FICO  WA LTV  WA DTI    PUD     Occ       Refi
--------------              ----------  ----  -------  ------  ---------  ----  ------  ------  ------  -------  ---------

Primary Residence           28,992,704   99%   63,580  11.485         --   657   99.54   43.72   82.67   100.00      11.55
Second Home                    147,129    1%   49,043  11.149         --   696   96.53   40.01  100.00     0.00       0.00
Investment                      33,956    0%   33,956  11.500         --   667   90.00   49.81  100.00     0.00       0.00
Non-owner                            0    0%
Other                                0    0%
                            ----------  ---    ------  ------        ---   ---   -----   -----  ------   ------      -----
TOTAL:                      29,173,789  100%   63,421  11.483         --   657   99.52   43.71   82.78    99.38      11.47
                            ==========  ===    ======  ======        ===   ===   =====   =====  ======   ======      =====


DOCUMENTATION TYPE



                                                               % Covered
                              Total Balance                        by
                            ----------------  WA Loan           Mortgage   WA                   % SFD/  % Owner  % Cashout
Doc Type                      Amount    %[2]  Balance   WAC       Ins.    FICO  WA LTV  WA DTI    PUD     Occ       Refi
--------                    ----------  ----  -------  ------  ---------  ----  ------  ------  ------  -------  ---------

Full Doc                     6,641,431   23%   65,112  10.938         --   648   98.48   42.30   82.54    99.32      17.51
Stated Doc                  20,577,857   71%   63,709  11.679         --   662   99.81   44.18   82.56    99.34       9.82
Limited Doc                  1,954,501    7%   55,843  11.270         --   643  100.00   43.58   85.84   100.00       8.34
NINA                                 0    0%
Other                                0    0%
                            ----------  ---    ------  ------        ---   ---  ------   -----   -----   ------      -----
TOTAL:                      29,173,789  100%   63,421  11.483         --   657   99.52   43.71   82.78    99.38      11.47
                            ==========  ===    ======  ======        ===   ===  ======   =====   =====   ======      =====




                                        Note: Cells in red font are calculations

FICO SCORE



                     Total Balance                   Adjusted Balance[1]
                   -----------------                 -------------------                           % Covered by
FICO                  Amount    %[2]       LTV          Amount    %[2]    WA Loan Balance   WAC   Mortgage Ins.
----               -----------  ----  -------------   ----------  ----    ---------------  -----  -------------

FICO NA                      0    0%  > 65.0                   0     0%
0 - 500                      0    0%  > 65.0                   0     0%
500.01 - 550           216,000    0%  > 70.0             216,000     0%           216,000  7.500             --
550.01 - 575           659,325    0%  > 70.0             410,000     0%           329,662  8.034             --
575.01 - 600         4,850,875    3%  > 70.0           4,378,875     3%           303,180  7.319             --
600.01 - 620        27,818,583   17%  > 70.0          26,319,033    16%           295,942  7.870             --
620.01 - 650        43,317,709   27%  > 80.0           9,045,088     6%           302,921  7.814             --
650.01 - 680        41,976,392   26%  > 80.0           8,812,749     5%           310,936  7.764             --
680.01 - 700        17,733,949   11%  > 85.0           1,831,025     1%           316,678  7.743             --
700.01 - 750        17,740,705   11%  > 85.0           2,191,973     1%           290,831  7.576             --
750.01 - 800         7,570,520    5%  > 85.0             837,000     1%           360,501  7.858             --
800 +                  623,948    0%  > 85.0                  --     0%           311,974  7.135             --
                   -----------  ---                   ----------   ---            -------  -----            ---
TOTAL:             162,508,006  100%                  54,041,743    33%           306,041  7.762             --
                   ===========  ===                   ==========   ===            =======  =====            ===
FICO: AVERAGE              659        NON-ZERO MIN:          519  MAX:                809
                   -----------                        ----------                  -------



FICO               WA FICO  WA LTV  WA DTI  % SFD/ PUD  % Owner Occ.  % Full Doc  % Cashout Refi
----               -------  ------  ------  ----------  ------------  ----------  --------------

FICO NA
0 - 500
500.01 - 550           519   90.00   24.25      100.00        100.00      100.00          100.00
550.01 - 575           567   68.06   38.66      100.00         62.18       62.18          100.00
575.01 - 600           590   78.56   41.39       85.98        100.00       82.28           69.54
600.01 - 620           611   81.96   42.79       87.58        100.00       57.76           55.38
620.01 - 650           635   79.61   43.47       84.66         99.57       40.69           40.97
650.01 - 680           664   80.52   43.83       81.85         96.89       21.25           39.25
680.01 - 700           690   81.02   43.23       84.02         96.53       32.06           31.52
700.01 - 750           722   81.29   43.39       78.54         96.36       36.65           13.95
750.01 - 800           771   81.22   42.53       77.02         92.31       14.57            2.89
800 +                  806   80.00   44.97      100.00        100.00          --           41.66
                       ---   -----   -----      ------        ------      ------          ------
TOTAL:                 659   80.60   43.27       83.52         97.79       37.24           38.41
                       ===   =====   =====      ======        ======      ======          ======




DEBT TO INCOME (DTI) RATIO



                     Total Balance           Adjusted Balance[1]
                   -----------------         -------------------                           % Covered by
DTI                   Amount    %[2]   FICO      Amount    %[2]   WA Loan Balance   WAC   Mortgage Ins.
---                -----------  ----  -----    ----------  ----   ---------------  -----  -------------

<= 20                1,091,779    1%  < 550             0    0%           218,356  8.323             --
20.001 - 25.00       2,282,572    1%  < 550       216,000    0%           285,322  7.407             --
25.001 - 30.00       4,441,604    3%  < 575             0    0%           277,600  7.572             --
30.001 - 35.00       8,904,137    5%  < 575       249,325    0%           307,039  7.828             --
35.001 - 40.00      22,425,367   14%  < 600             0    0%           311,463  7.573             --
40.001 - 45.00      50,835,574   31%  < 625    11,528,063    7%           302,593  7.726             --
45.001 - 50.00      62,519,643   38%  < 650    29,195,059   18%           314,169  7.878             --
50.001 - 55.00       9,367,330    6%  < 675     5,968,707    4%           292,729  7.623             --
55+                    640,000    0%  < 700       640,000    0%           320,000  8.693             --
                   -----------  ---            ----------  ---            -------  -----            ---
TOTAL:             162,508,006  100%           47,797,153   29%           306,041  7.762             --
                   ===========  ===            ==========  ===            =======  =====            ===
DTI: AVERAGE             43.27        MIN:          17.22  MAX:             57.71
                   -----------                 ----------                 -------




DTI                WA FICO  WA LTV  WA DTI  % SFD/ PUD  % Owner Occ.  % Full Doc  % Cashout Refi
---                -------  ------  ------  ----------  ------------  ----------  --------------

<= 20                  646   81.49   17.50       74.65         90.52          --           35.86
20.001 - 25.00         636   81.94   22.49       69.33         55.58       74.60           82.07
25.001 - 30.00         658   78.70   27.48       75.31         92.40       71.05           56.09
30.001 - 35.00         640   80.17   33.01       91.98         97.20       27.96           57.10
35.001 - 40.00         659   80.12   37.96       89.26         97.38       54.66           40.19
40.001 - 45.00         664   80.83   42.90       80.53         99.33       30.73           35.18
45.001 - 50.00         660   80.66   47.60       83.12         98.79       31.70           34.34
50.001 - 55.00         656   81.01   51.72       87.88         97.89       55.53           45.04
55+                    617   80.00   57.37      100.00        100.00       42.50              --
                       ---   -----   -----      ------        ------       -----           -----
TOTAL:                 659   80.60   43.27       83.52         97.79       37.24           38.41
                       ===   =====   =====      ======        ======       =====           =====




LOAN TO VALUE (LTV) RATIO



                     Total Balance           Adjusted Balance[1]
                   -----------------         -------------------                           % Covered by
LTV                   Amount    %[2]   DTI     Amount      %[2]   WA Loan Balance   WAC   Mortgage Ins.
---                -----------  ----  -----  ----------  ------   ---------------  -----  -------------

Less than or
   equal to 60.00    3,312,051    2%  > 50      205,000       0%          220,803  7.343             --
60.01 - 70.00        4,300,870    3%  > 50      210,000       0%          286,725  7.222             --
70.01 - 80.00      118,195,585   73%  > 50    7,300,355       4%          299,989  7.679             --
80.01 - 85.00       12,567,069    8%  > 50      240,000       0%          322,233  7.970             --
85.01 - 90.00       17,656,309   11%  > 50    1,671,500       1%          375,666  8.085             --
90.01 - 95.00        6,146,122    4%  > 50      380,475       0%          307,306  8.543             --
95.01 - 100.00         330,000    0%  > 50            0       0%          330,000  9.300             --
100+                         0    0%  > 50            0       0%
                   -----------  ---          ----------  ------           -------  -----            ---
TOTAL:             162,508,006  100%         10,007,330       6%          306,041  7.762             --
                   ===========  ===          ==========  ======           =======  =====            ===
LTV: AVERAGE             80.60  MIN:  22.64  MAX:        100.00
                   -----------        -----              ------




LTV                WA FICO  WA LTV  WA DTI  % SFD/ PUD  % Owner Occ  % Full Doc  % Cashout Refi
---                -------  ------  ------  ----------  -----------  ----------  --------------

Less than or
   equal to 60.00      631   47.68   42.26       92.81        92.47       30.76           84.15
60.01 - 70.00          639   67.51   40.26       90.92       100.00       40.02           83.62
70.01 - 80.00          664   79.56   43.82       83.02        98.66       34.23           24.72
80.01 - 85.00          647   84.03   40.23       80.33        93.52       44.82           80.04
85.01 - 90.00          639   89.19   42.59       84.67        98.32       47.33           72.57
90.01 - 95.00          666   94.80   43.57       85.20        89.53       54.26           58.86
95.01 - 100.00         733  100.00   42.25      100.00       100.00          --          100.00
100+
                       ---  ------   -----      ------       ------       -----          ------
TOTAL:                 659   80.60   43.27       83.52        97.79       37.24           38.41
                       ===  ======   =====      ======       ======       =====          ======




OCCUPANCY STATUS



                     Total Balance
                   -----------------                           % Covered by
Occupancy Type        Amount    %[2]  WA Loan Balance   WAC   Mortgage Ins.  WA. FICO
--------------     -----------  ----  ---------------  -----  -------------  --------

Primary Residence  158,921,980   98%          307,988  7.746             --       658
Second Home          1,802,826    1%          225,353  8.564             --       707
Investment           1,783,200    1%          254,743  8.371             --       663
Non-owner                    0    0%
Other                        0    0%
                   -----------  ---           -------  -----            ---       ---
TOTAL:             162,508,006  100%          306,041  7.762             --       659
                   ===========  ===           =======  =====            ===       ===




Occupancy Type     WA LTV  WA DTI  % SFD/ PUD  % Owner Occ  % Cashout Refi
--------------     ------- ------  ----------  -----------  --------------

Primary Residence   80.57   43.46       83.87       100.00           38.48
Second Home         83.92   40.44       81.28         0.00            0.00
Investment          79.71   28.72       54.94         0.00           70.85
Non-owner
Other
                    -----   -----       -----       ------           -----
TOTAL:              80.60   43.27       83.52        97.79           38.41
                    =====   =====       =====       ======           =====


DOCUMENTATION TYPE



                     Total Balance
                   -----------------                           % Covered by
Doc Type              Amount    %[2]  WA Loan Balance   WAC   Mortgage Ins.  WA FICO
--------           -----------  ----  ---------------  -----  -------------  -------

Full Doc            60,521,993   37%          290,971  7.396             --      646
Stated Doc          92,734,579   57%          313,292  8.025             --      668
Limited Doc          9,251,435    6%          342,646  7.520             --      650
NINA                         0    0%
Other                        0    0%
                   -----------  ---           -------  -----            ---      ---
TOTAL:             162,508,006  100%          306,041  7.762             --      659
                   ===========  ===           =======  =====            ===      ===




Doc Type           WA LTV  WA DTI  % SFD/ PUD  % Owner Occ  % Cashout Refi
--------           ------  ------  ----------  -----------  --------------

Full Doc            81.32   42.48       81.30        97.21           44.49
Stated Doc          80.07   43.83       84.28        98.28           35.60
Limited Doc         81.22   42.77       90.43        96.74           26.75
NINA
Other
                    -----   -----       -----        -----           -----
TOTAL:              80.60   43.27       83.52        97.79           38.41
                    =====   =====       =====        =====           =====




                                        Note: Cells in red font are calculations

FICO SCORE



                   Total Balance                     Adjusted Balance[1]
                ------------------                   -------------------                               %Covered by    WA FICO
FICO               Amount     %[2]        LTV           Amount     %[2]    WA Loan Balance     WAC    Mortgage Ins.
-------------   -----------   ----   -------------   -----------   -----   ---------------   ------   -------------   -------

FICO NA                   0      0%  > 65.0                    0       0%
0 - 500             310,315      0%  > 65.0              310,315       0%          155,157   10.482              --       500
500.01 - 550     26,783,692     10%  > 70.0           17,528,765       6%          202,907    9.145              --       526
550.01 - 575     25,302,257      9%  > 70.0           20,851,718       8%          248,061    8.640              --       563
575.01 - 600     36,010,633     13%  > 70.0           31,029,656      11%          235,364    8.515              --       589
600.01 - 620     34,568,607     13%  > 70.0           30,353,241      11%          241,739    8.200              --       610
620.01 - 650     67,771,448     25%  > 80.0           17,115,425       6%          263,702    8.073              --       635
650.01 - 680     41,305,471     15%  > 80.0            8,950,560       3%          288,849    7.887              --       663
680.01 - 700     14,362,454      5%  > 85.0            2,351,244       1%          312,227    7.825              --       691
700.01 - 750     22,058,509      8%  > 85.0            3,956,437       1%          298,088    7.933              --       719
750.01 - 800      4,954,180      2%  > 85.0              197,920       0%          291,422    7.540              --       769
800 +               118,759      0%  > 85.0           118,759.29       0%          118,759    7.375              --       814
                -----------    ---                   -----------     ---           -------   ------             ---       ---
TOTAL:          273,546,325    100%                  132,764,042      49%          255,651    8.245              --       625
                ===========    ===                   ===========     ===           =======   ======             ===       ===
FICO: AVERAGE           625          NON-ZERO MIN:           500   MAX:                814
                -----------                          -----------                   -------




FICO           WA LTV   WA DTI   %SFD/PUD   %Owner Occ.   %Full Doc   %Cashout Refi
------------   ------   ------   --------   -----------   ---------   -------------

FICO NA
0 - 500         75.43    43.95     100.00        100.00      100.00           49.74
500.01 - 550    73.14    42.64      90.19         97.01       55.05           89.82
550.01 - 575    77.78    43.62      89.90         99.28       54.87           86.44
575.01 - 600    80.59    42.75      89.99         95.68       50.88           77.09
600.01 - 620    81.08    42.58      83.64         90.92       51.83           59.53
620.01 - 650    80.92    43.87      83.06         93.36       34.11           47.28
650.01 - 680    81.14    44.18      83.04         95.36       26.65           34.70
680.01 - 700    81.00    43.29      73.26         90.68       27.12           36.14
700.01 - 750    82.80    44.16      80.49         91.73       20.29           21.80
750.01 - 800    80.14    43.66      72.18        100.00       11.87            7.18
800 +           90.00    48.38     100.00        100.00      100.00              --
                -----    -----     ------        ------      ------           -----
TOTAL:          80.02    43.45      84.48         94.42       39.62           55.26
                =====    =====     ======        ======      ======           =====


DEBT TO INCOME (DTI) RATIO



                    Total Balance             Adjusted Balance[1]
                 ------------------           -------------------                              %Covered by
DTI                 Amount     %[2]    FICO      Amount      %[2]   WA Loan Balance    WAC    Mortgage Ins.   WA FICO   WA LTV
--------------   -----------   ----   -----   -----------   -----   ---------------   -----   -------------   -------   ------

<= 20              3,180,910      1%  < 550       204,777       0%          212,061   7.988              --       604    71.64
20.001 - 25.00     3,483,035      1%  < 550       998,195       0%          174,152   8.534              --       598    73.56
25.001 - 30.00     8,690,195      3%  < 575       605,248       0%          241,394   8.246              --       637    79.32
30.001 - 35.00    17,566,593      6%  < 575     4,783,347       2%          199,620   8.409              --       609    76.13
35.001 - 40.00    33,520,717     12%  < 600    12,232,858       4%          246,476   8.250              --       615    79.22
40.001 - 45.00    73,506,276     27%  < 625    31,528,590      12%          259,739   8.265              --       631    79.40
45.001 - 50.00   103,127,922     38%  < 650    68,111,914      25%          272,825   8.225              --       629    81.79
50.001 - 55.00    26,720,750     10%  < 675    24,366,707       9%          254,483   8.241              --       609    80.28
55+                3,749,927      1%  < 700     3,554,318       1%          416,659   7.565              --       653    81.59
                 -----------    ---           -----------     ---           -------   -----             ---       ---    -----
TOTAL:           273,546,325    100%          146,385,953      54%          255,651   8.245              --       625    80.02
                 ===========    ===           ===========     ===           =======   =====             ===       ===    =====
DTI: AVERAGE           43.45          MIN:           5.42    MAX:             59.92
                 -----------                  -----------                   -------




DTI              WA DTI   %SFD/PUD   %Owner Occ.   %Full Doc   %Cashout Refi
--------------   ------   --------   -----------   ---------   -------------

<= 20             14.53      64.05         71.02       65.57           64.66
20.001 - 25.00    22.50      83.92         77.28       49.69           80.73
25.001 - 30.00    28.10      80.87         88.76       56.14           55.66
30.001 - 35.00    32.64      80.02         88.86       48.96           67.48
35.001 - 40.00    37.63      88.21         93.20       37.79           61.19
40.001 - 45.00    42.81      82.35         98.19       27.67           50.43
45.001 - 50.00    47.67      88.05         95.24       38.65           52.59
50.001 - 55.00    52.50      80.67         92.21       60.27           56.54
55+               57.96      69.04        100.00       56.35           71.12
                  -----      -----        ------       -----           -----
TOTAL:            43.45      84.48         94.42       39.62           55.26
                  =====      =====        ======       =====           =====


LOAN TO VALUE (LTV) RATIO



                          Total Balance             Adjusted Balance[1]
                       ------------------           -------------------                              %Covered by
LTV                       Amount     %[2]    DTI      Amount      %[2]    WA Loan Balance    WAC    Mortgage Ins.   WA FICO   WA LTV
--------------------   -----------   ----   -----   ----------   ------   ---------------   -----   -------------   -------   ------

less than or = 60.00    12,357,187     5%   > 50     1,126,511        0%          190,111   7.961              --       590    50.19
60.01 - 70.00           16,046,650     6%   > 50     2,671,179        1%          235,980   8.501              --       570    66.69
70.01 - 80.00          167,067,652    61%   > 50    16,299,357        6%          269,464   8.093              --       636    79.18
80.01 - 85.00           26,357,808    10%   > 50     1,918,920        1%          233,255   8.551              --       596    84.47
85.01 - 90.00           33,148,288    12%   > 50     5,618,529        2%          256,963   8.418              --       622    89.59
90.01 - 95.00           15,299,232     6%   > 50     2,605,385        1%          254,987   8.834              --       637    94.56
95.01 - 100.00           3,269,509     1%   > 50       230,796        0%          217,967   8.866              --       634    99.91
100+                             0     0%   > 50             0        0%
                       -----------   ---    -----   ----------   ------           -------   -----             ---       ---    -----
TOTAL:                 273,546,325   100%           30,470,677       11%          255,651   8.245              --       625    80.02
                       ===========   ===            ==========   ======           =======   =====             ===       ===    =====
LTV: AVERAGE                 80.02   MIN:   23.86         MAX:   100.00
                       -----------          -----                ------




LTV                    WA  DTI   %SFD/ PUD   %Owner Occ   %Full Doc   %Cashout Refi
--------------------   -------   ---------   ----------   ---------   -------------

less than or = 60.00     39.03       81.54        90.16       54.45           95.75
60.01 - 70.00            42.50       86.72        92.39       45.69           91.01
70.01 - 80.00            43.37       83.72        96.79       30.46           39.15
80.01 - 85.00            42.64       87.92        92.63       47.33           86.64
85.01 - 90.00            45.29       82.86        91.22       52.03           76.32
90.01 - 95.00            45.71       88.67        82.99       70.74           63.82
95.01 - 100.00           46.67       92.45       100.00       88.18           43.24
100+
                         -----       -----       ------       -----           -----
TOTAL:                   43.45       84.48        94.42       39.62           55.26
                         =====       =====       ======       =====           =====


OCCUPANCY STATUS



                       Total Balance
                    ------------------                              %Covered by
Occupancy Type        Amount     %[2]    WA Loan Balance    WAC    Mortgage Ins.   WA. FICO   WA LTV    WA DTI   %SFD/PUD
-----------------   -----------   ----   ---------------   -----   -------------   --------   -------   ------   --------

Primary Residence   258,291,337    94%           257,519   8.191              --        624     79.95    43.65      86.12
Second Home           3,982,123     1%           331,844   8.873              --        634     84.25    44.98      46.41
Investment           11,272,865     4%           204,961   9.257              --        639     80.17    38.49      60.49
Non-owner                     0     0%
Other                         0     0%
                    -----------   ---            -------   -----             ---        ---     -----    -----      -----
TOTAL:              273,546,325   100%           255,651   8.245              --        625     80.02    43.45      84.48
                    ===========   ===            =======   =====             ===        ===     =====    =====      =====




Occupancy Type      %Owner Occ   %Cashout Refi
-----------------   ----------   -------------

Primary Residence       100.00           55.23
Second Home               0.00           42.98
Investment                0.00           60.27
Non-owner
Other
                        ------           -----
TOTAL:                   94.42           55.26
                        ======           =====


DOCUMENTATION TYPE



                 Total Balance
              ------------------                              %Covered by
Doc Type         Amount     %[2]   WA Loan Balance    WAC    Mortgage Ins.   WA FICO   WA LTV   WA DTI   %SFD/PUD   %Owner Occ
-----------   -----------   ----   ---------------   -----   -------------   -------   ------   ------   --------   ----------

Full Doc      108,379,052    40%           233,073   8.043              --       607    80.72    43.41      87.57        93.80
Stated Doc    155,644,816    57%           273,061   8.393              --       638    79.54    43.65      81.85        94.75
Limited Doc     9,522,457     3%           272,070   8.136              --       607    79.82    40.71      92.28        96.26
NINA                    0     0%
Other                   0     0%
              -----------   ---            -------   -----             ---       ---    -----    -----      -----        -----
TOTAL:        273,546,325   100%           255,651   8.245              --       625    80.02    43.45      84.48        94.42
              ===========   ===            =======   =====             ===       ===    =====    =====      =====        =====




Doc Type      %Cashout Refi
-----------   -------------

Full Doc              66.08
Stated Doc            47.30
Limited Doc           62.13
NINA
Other
                      -----
TOTAL:                55.26
                      =====




PLEASE PROVIDE LOAN LEVEL DATA FOR THE FOLLOWING ATTRIBUTES



FICO   LTV      CLTV     WAC      DTI     PRINCIPAL BALANCE   DTI PRINCIPAL BALANCE
----   ------   ------   ------   -----   -----------------   ---------------------

 685    71.43    71.43    7.640   31.74          500,000.00                   33178
 611    77.00    77.00    7.975   38.33          485,097.00                   85242
 517    80.00    80.00    9.825   26.64          133,029.42                   34476
 587    80.00    80.00    7.115   43.17          168,204.24                   33056
 715    20.00   100.00    9.300   36.22           88,574.11                   33033
 520    70.00    70.00    8.440   42.97          313,005.68                   90640
 665    80.00    80.00    6.990   47.29          512,000.00                   95127
 682    80.00    80.00    7.000   35.90          192,000.00                   89110
 598    80.00    80.00    6.750   46.91          130,953.83                   89030
 628    80.00    80.00    7.750   46.88          401,600.00                   95403
 622    80.00    80.00    7.500   49.09          200,000.00                   89146
 657    80.00    80.00    6.700   49.70          135,481.39                   98405
 664    79.97    79.97    6.625   39.85          122,806.00                   32738
 545    69.64    69.64    6.190   38.47          189,811.07                   33063
 553    51.55    51.55    9.750   32.85          249,324.86                   92114
 615    25.00   100.00   11.700   36.03           29,209.36                   60477
 635    20.00   100.00   11.350   46.38           74,768.39                   93552
 688    81.58    81.58    8.990   44.76          774,996.06                   96793
 505    44.34    44.34    8.850   37.92          233,912.76                   90016
 615    99.97    99.97   10.240   32.30           73,260.66                   39666
 629    80.00    80.00    8.750   47.27          620,450.00                   95136
 688    80.00    80.00    7.715   41.18          148,391.95                   33032
 627    80.00    80.00    7.875   51.78          158,302.66                   77581
 726    80.00    80.00    6.105   53.82          395,817.69                   95828
 647    90.00    90.00   10.175   44.32          250,111.09                   95380
 580    80.00    80.00    7.725   47.60          106,368.48                   98404
 596    78.69    78.69    8.050   41.58          238,692.54                   92335
 620    80.00    80.00    6.450   44.94          146,104.60                   23434
 590    80.00    80.00    6.990   46.11          148,000.00                   85301
 711    80.00    80.00    6.990   46.04          204,000.00                   93726
 628    80.00    80.00    9.250   45.42           91,129.45                   45140
 646   100.00   100.00    8.950   44.09          157,980.69                   37042
 595    80.00    80.00    7.925   26.81          105,011.00                   18018
 603    80.00    80.00    7.670   46.25          167,014.15                   60438
 511    80.00    80.00   10.050   51.30          148,919.95                   08009
 613    85.56    85.56    7.500   41.71          308,000.00                   95823
 675    20.00   100.00   10.875   39.79           99,462.63                   92595
 513    75.00    75.00   10.650   40.82          198,118.95                   07050
 608    80.00    80.00    7.225   47.86          148,222.41                   33569
 505    80.00    80.00    9.575   52.94          286,704.25                   20748
 631    80.00    80.00    6.600   43.80          443,928.25                   90638
 571    80.00    80.00   10.425   49.96          142,716.46                   60447
 651    85.00    85.00    6.950   36.76          409,463.80                   94520
 606    90.00    90.00    9.400   48.08          152,275.86                   23224
 630    80.00    80.00    7.200   50.08          598,234.70                   55449
 639    90.00    90.00    7.750   40.05          138,694.27                   20619
 596    80.00    80.00    7.500   45.91          274,324.98                   11741
 602    73.53    73.53    7.190   15.10          111,773.52                   78752
 608    90.00    90.00    7.990   48.61          268,513.38                   89145
 615    60.00    60.00    7.490   49.22          207,635.33                   33184
 583    80.00    80.00    7.950   38.59           99,966.28                   87002
 646    56.60    56.60    6.800   50.35          178,747.62                   02019
 705    85.00    85.00    7.040   49.64          371,197.46                   90032
 558    53.61    53.61    7.990   49.48          325,128.20                   80237
 653    90.00    90.00    7.190   42.39          450,000.00                   92551
 697    80.00    80.00    7.785   33.92          176,788.99                   33025
 670    80.00    80.00    6.660   49.73          136,537.04                   33334
 610    85.00    85.00    7.000   43.43          444,125.00                   90502
 623    20.00   100.00   10.500   29.97           85,718.03                   92646
 622    20.00   100.00   13.300   47.18           59,856.75                   33177
 631    20.00   100.00   12.300   42.12           61,862.42                   33055
 719    20.00   100.00    9.825   38.87           74,679.72                   33177
 632    80.00    80.00    7.990   52.05          254,770.84                   06066
 620    80.00    80.00    8.010   39.07          179,139.21                   33461
 535    85.00    85.00   11.250   35.79          148,388.43                   63033
 644    80.00    80.00    7.050   44.87          207,443.28                   91730
 565    56.82    56.82    9.550   48.30           74,738.28                   33401
 582    90.00    90.00    8.500   39.73          440,219.24                   92316
 653    80.00    80.00    9.470   40.07          267,049.08                   33021
 641    95.00    95.00    7.750   49.81          407,602.26                   92706
 731    80.00    80.00    7.810   29.45          149,192.00                   33025
 664    80.00    80.00    8.125   45.81          332,941.64                   91737
 677    80.00    80.00    7.600   47.86          250,692.19                   34746
 630    87.37    87.37    7.300   34.88          495,257.89                   95382
 612    80.00    80.00    8.200   39.43          291,396.11                   95210
 704    20.00   100.00   10.425   33.81           35,878.89                   33030
 630    20.00   100.00   10.740   42.62          101,723.31                   92626
 569    80.00    80.00    8.990   32.31          240,513.90                   89503
 602    80.00    80.00    7.550   36.00          158,326.44                   85746
 634    20.00   100.00   12.900   37.86           48,042.61                   48158
 692    80.00    80.00    7.450   44.66          227,475.19                   33990
 692    80.00    80.00    8.490   46.47          183,673.30                   33445
 662    80.00    80.00    6.650   48.44          145,320.67                   98444
 634    80.00    80.00    8.450   49.59          352,000.00                   90011
 506    50.00    50.00    9.100   50.98          204,214.64                   33138
 509    75.00    75.00   10.250   28.60           59,071.55                   48504
 580    75.74    75.74    7.850   49.72          177,498.00                   89108
 669    90.00    90.00    7.150   46.40          346,500.00                   92307
 682    80.00    80.00    7.500   44.91          504,000.00                   91040
 673    80.00    80.00    7.325   49.22          218,969.89                   33015
 659    12.73    88.73   11.675   48.93           69,652.99                   95110
 693    20.00   100.00   10.300   40.20          102,094.82                   92105
 709    20.00   100.00   10.990   24.01           17,918.05                   80645
 641    20.00   100.00   11.375   39.45           53,141.23                   33912
 540    80.00    80.00    9.050   41.61          399,344.90                   90003
 538    79.49    79.49   10.825   54.92           49,926.87                   74106
 652    80.00    80.00    9.025   47.73          236,000.00                   33928
 712    80.00    80.00    7.725   44.81          301,730.80                   92509
 785    35.29    70.63    8.650   45.45          298,367.60                   92833
 524    70.00    70.00    8.765   35.55          243,994.54                   33317
 620    85.00    85.00    7.575   45.23          183,487.99                   34607
 614    90.00    90.00    8.225   17.38           98,546.63                   97054
 658    80.00    80.00    7.950   39.19          235,999.50                   95215
 511    67.00    67.00    9.500   42.26          239,497.04                   20874
 545    74.32    74.32    9.900   36.04           54,915.98                   63121
 638    80.00    80.00    7.990   44.42          219,282.88                   32835
 649    85.00    85.00    7.875   26.94          190,785.01                   19136
 723    80.00    80.00    8.680   38.79          136,136.45                   60033
 644    80.00    80.00    8.500   50.04          470,917.80                   95076
 662    72.73    72.73    8.990   36.08           79,763.61                   93252
 624    80.00    80.00    8.125   21.20           56,456.39                   27406
 686    80.00    80.00    7.125   47.16          148,000.00                   80249
 666    80.00    80.00    7.990   46.26          411,154.70                   85255
 634    80.00    80.00    7.700   52.18          235,920.00                   89052
 591    80.00    80.00    8.750   41.56          118,205.11                   32119
 670    80.00    80.00    6.625   41.54          137,861.30                   55121
 574    80.00    80.00    8.625   31.30          167,671.01                   97225
 629    85.00    85.00    7.650   48.54          190,267.25                   01020
 634    85.00    85.00    9.250   42.70          423,648.39                   33176
 617    88.41    88.41    7.000   39.41          557,000.00                   92704
 721    80.00    80.00    7.095   44.23          244,396.92                   33016
 530    64.12    64.12    9.800   51.63          271,729.66                   33990
 655    56.00    56.00    6.850   41.95          391,052.04                   91750
 710    20.00   100.00   10.490   42.30           63,245.16                   33936
 548    46.67    46.67    7.420   35.88          139,247.14                   92408
 509    62.15    62.15    9.750   23.62          109,631.88                   95966
 594    65.00    65.00   11.250   31.42          226,379.55                   20716
 657    89.47    89.47    8.575   46.77          152,442.51                   33615
 622    80.00    80.00    6.990   48.28          252,000.00                   93535
 656    85.00    85.00    7.175   40.77          334,898.84                   90220
 597    50.91    50.91    7.925   41.17          166,871.96                   33184
 697    80.00    80.00    7.160   40.99          144,258.00                   33928
 605    80.00    80.00    7.760   45.12          180,000.00                   33016
 600    80.00    80.00    7.985   40.54          120,046.71                   33054
 619    80.00    80.00    7.460   38.42          215,524.88                   34986
 724    80.00    80.00    8.560   43.50          463,192.70                   33076
 623    74.63    74.63    7.990   35.63          496,892.59                   60625
 527    70.80    70.80    9.500   19.42           79,676.28                   23150
 597    20.00   100.00   13.425   40.49           85,798.49                   33063
 544    70.00    70.00   10.500   47.54          232,531.89                   11722
 501    70.00    70.00   10.950   44.69          153,659.24                   33426
 580    80.00    80.00    6.700   26.11          296,000.00                   85225
 670    95.00    95.00    9.825   39.66          332,091.60                   95358
 632    80.00    80.00    8.495   31.23          267,007.45                   33134
 623    85.00    85.00    7.750   37.66          524,731.96                   92845
 630    80.00    80.00    6.825   44.84          477,100.21                   92509
 670    20.00   100.00   10.800   46.76           81,812.59                   92503
 571    20.00   100.00   12.500   29.78          117,814.05                   92802
 616    80.00    80.00    7.700   46.62          344,689.38                   95376
 593    80.00    80.00    7.900   48.43          108,206.16                   77083
 597    80.00    80.00    7.300   42.15           89,178.42                   17404
 615    80.00    80.00    7.850   44.08          280,000.00                   92394
 506    70.00    70.00    8.950   16.80          117,203.21                   48239
 615    90.00    90.00    9.200   36.84          327,447.46                   34120
 690    80.00    80.00    7.890   38.04          240,108.00                   33884
 587    63.80    63.80    9.250   40.97           79,497.13                   53704
 595    74.63    74.63    7.600   42.47          149,334.88                   23832
 536    65.00    65.00    8.300   51.19          126,212.97                   34744
 617    85.00    85.00    8.890   36.26          155,018.64                   48174
 532    69.44    69.44    9.690   31.49          249,399.74                   21229
 612    80.00    80.00    7.890   45.06           99,581.51                   38358
 585    90.00    90.00    9.030   45.85          179,239.36                   60617
 703    94.81    94.81    8.475   46.13          384,000.00                   95833
 611    80.00    80.00    7.865   44.65          344,000.00                   94585
 679    75.00    75.00    6.690   50.49          411,280.15                   92860
 636    80.00    80.00    7.115   40.33          224,000.00                   85326
 635    90.00    90.00    7.588   54.35          187,250.62                   85283
 601    90.00    90.00    8.000   23.26          243,000.00                   89121
 680    80.00    80.00    7.950   44.27          116,317.05                   53214
 686    55.00    55.00    6.950   39.68          163,941.80                   92223
 636    84.51    84.51    6.500   44.37          345,577.18                   90059
 611    88.02    88.02    7.400   38.60          213,000.00                   32211
 643    90.00    90.00    8.250   40.75          147,921.99                   93307
 660    80.00    80.00    8.375   49.61          231,280.00                   89701
 753   100.00   100.00    7.950   23.98          144,400.44                   33610
 645    80.00    80.00    7.250   38.85          369,600.00                   91730
 551    85.00    85.00   10.900   30.69           80,569.35                   33604
 701   100.00   100.00    8.900   42.38          639,285.31                   95747
 629    80.00    80.00    7.500   44.65          344,000.00                   92335
 602    15.00    95.00   12.750   45.35           62,650.40                   34997
 677    20.00   100.00   11.050   48.13           36,919.87                   33467
 620    20.00   100.00   12.150   50.48          150,143.87                   92780
 619    20.00   100.00   12.250   42.10          100,432.45                   92882
 654    20.00   100.00   11.750   37.28           45,881.23                   33055
 603    20.00   100.00   11.990   46.82          158,767.43                   92627
 653    20.00   100.00   11.925   36.89           89,866.45                   33134
 682    20.00   100.00    9.800   36.27          130,629.65                   90242
 634    20.00   100.00   12.990   38.78           72,896.72                   11575
 598    80.00    80.00    7.225   42.61          214,792.98                   33110
 602    94.64    94.64    7.750   33.06          548,889.93                   95624
 595    88.55    88.55    7.875   50.90          580,000.00                   90717
 642    80.00    80.00    8.500   41.17          139,346.63                   33609
 608    80.00    80.00    7.125   34.96          313,350.00                   93230
 544    75.00    75.00   10.700   49.80           59,835.78                   54304
 602    20.00   100.00   11.750   31.86           26,941.07                   68007
 732    20.00   100.00    9.990   43.15           74,491.20                   89403
 645    80.00    80.00    6.850   47.95          318,296.85                   92530
 585    40.00    40.00    8.975   40.48          169,776.30                   96766
 617    80.00    80.00    8.275   47.54          219,002.57                   01952
 681    20.00   100.00    9.800   38.45           26,890.59                   75115
 612    80.00    80.00    7.500   44.30          151,600.00                   67601
 622    76.00    76.00    8.650   49.84          113,835.00                   08650
 591    81.70    81.70    9.900   35.48          110,189.86                   36854
 582    85.00    85.00    8.600   43.04          190,969.11                   49326
 654    80.00    80.00    8.025   41.24          423,264.31                   94589
 684    20.00   100.00    9.800   37.76           20,683.95                   78410
 633    80.00    80.00    8.675   26.86          117,687.64                   32801
 634    20.00   100.00   12.400   40.99          125,796.93                   90715
 718    20.00   100.00   10.990   39.90           66,852.96                   89123
 645    20.00   100.00   12.250   29.76          121,796.74                   30215
 631    80.00    80.00    7.575   40.27          491,400.38                   30101
 669    80.00    80.00    7.325   38.36          118,866.84                   76053
 626    70.00    70.00    6.775   52.03          162,945.98                   89030
 641    80.00    80.00    8.080   42.58          445,607.05                   93619
 532    66.33    66.33    9.900   48.05          399,359.04                   08822
 661    46.81    46.81    6.500   52.01          218,994.76                   90022
 679    80.00    80.00    7.525   34.38           65,468.88                   19124
 602    49.23    49.23    8.725   38.74          159,811.84                   91752
 646    20.00   100.00   11.750   39.85          109,773.17                   91402
 644    20.00   100.00   10.850   45.60           22,444.02                   14612
 618    71.79    71.79    7.375   19.24          223,049.19                   97470
 624    20.00   100.00   11.550   36.53           45,291.80                   93230
 652    80.00    80.00    7.400   49.02          261,394.29                   60160
 619    80.00    80.00    7.450   42.03          380,000.00                   90805
 551    40.56    40.56    7.475   43.94           76,361.53                   33770
 522    80.00    80.00   10.550   26.53           49,899.97                   28021
 595    44.12    44.12    6.375   42.29          209,017.09                   90670
 554    80.00    80.00    9.200   47.84          155,584.89                   85043
 644    93.41    93.41    8.100   23.79           84,372.13                   78566
 602    80.00    80.00    8.050   35.48          151,782.49                   15215
 553    69.33    69.33    8.500   47.19          259,201.20                   02648
 659    80.00    80.00    8.175   51.55          123,590.09                   01841
 652    67.50    67.50    7.500   12.55          134,492.74                   33625
 626    90.00    90.00    9.050   45.58           85,265.34                   45239
 654    80.00    80.00    7.900   44.26          191,633.26                   20020
 790    71.82    71.82    6.725   50.52          157,622.95                   33549
 564    75.00    75.00    7.850   47.74          396,897.63                   94531
 658    87.81    87.81    7.130   48.25          280,477.78                   95823
 631    85.00    85.00    7.490   25.90          148,500.19                   60173
 604    90.00    90.00    8.850   23.02          533,804.17                   84037
 621    63.93    63.93    6.625   40.41          356,403.15                   94553
 601    51.34    51.34    6.825   37.68          229,534.56                   11426
 620    80.00    80.00    7.800   45.51          599,077.64                   95020
 613    80.00    80.00    7.700   39.02          108,247.74                   60435
 524    80.00    80.00    9.975   48.00          103,365.72                   77429
 597    46.47    46.47    8.938   31.24           78,912.75                   50310
 679    80.00    80.00    8.990   47.86           85,506.90                   85051
 699    80.00    80.00    7.990   47.66          351,487.58                   11722
 661    80.00    80.00    8.850   51.37          142,790.50                   72023
 525    85.00    85.00    7.500   35.83          144,258.03                   32725
 544    80.00    80.00    9.650   48.11           55,864.40                   52732
 776    80.00    80.00    7.590   46.25          780,000.00                   91356
 508    41.67    41.67    8.290   53.32          149,519.00                   06604
 588    80.00    80.00    8.220   46.63          139,010.37                   30127
 644    71.07    71.07    7.050   11.38           83,443.21                   30474
 623    80.00    80.00    9.375   42.00          103,619.57                   66048
 618    80.00    80.00    8.675   35.72          271,193.68                   20011
 636    80.00    80.00    8.990   44.71          363,604.15                   89110
 612    80.00    80.00    8.900   45.18          519,419.29                   11216
 756    80.00    80.00    7.599   37.81           77,633.39                   85043
 708    85.00    85.00    7.650   43.86          130,517.00                   84128
 526    85.00    85.00    9.750   37.83           67,663.35                   48850
 718    80.00    80.00    8.695   36.38          566,789.42                   91403
 595    63.26    63.26    7.999   48.68          135,644.91                   34743
 639    80.00    80.00    7.750   43.85          110,847.45                   60626
 636    80.00    80.00    7.625   39.13          135,610.49                   49508
 667    80.00    80.00    7.990   45.58          219,250.50                   87124
 568    79.99    79.99    9.375   32.96          127,775.57                   33569
 660    80.00    80.00    7.875   44.77          107,837.48                   87410
 569    55.56    55.56    8.990   39.40           73,985.53                   05488
 680    80.00    80.00    7.750   43.86          196,662.44                   98277
 560    75.00    75.00    8.250   49.13          284,615.12                   60143
 671    80.00    80.00    8.125   43.10          143,798.34                   30337
 590    66.32    66.32    8.499   36.51           62,766.81                   32767
 587    75.00    75.00    7.990   49.90           70,957.70                   47960
 749    80.00    80.00    8.750   44.58          279,673.21                   07107
 712    80.00    80.00    7.375   44.97          323,323.44                   11746
 554    80.00    80.00    8.699   26.72           61,319.95                   44830
 662    80.00    80.00    7.990   28.69          209,537.00                   06514
 550    70.97    70.97    8.400   34.93          218,753.44                   20746
 528    69.77    69.77    9.840   42.81          149,579.46                   34207
 720    79.99    79.99    6.900   38.88          262,300.00                   30252
 697    83.33    83.33    7.225   42.51          373,512.20                   93454
 621    90.00    90.00    9.990   44.34          105,941.35                   48219
 642    80.00    80.00    6.750   45.25          302,352.12                   21758
 665    73.68    73.68    7.150   47.10          292,500.00                   33165
 516    80.00    80.00    9.470   49.19          171,478.96                   60042
 713    80.00    80.00    7.850   49.15          175,355.84                   01085
 528    80.00    80.00    9.525   48.53           87,781.26                   76549
 611    80.00    80.00    7.625   46.14          299,613.41                   91764
 760    80.00    80.00    7.750   37.07          611,904.69                   90623
 555    85.00    85.00    9.900   34.80           89,044.95                   33604
 622    80.00    80.00    7.895   49.62          183,724.74                   34759
 638    90.00    90.00    6.990   48.54          265,885.14                   92868
 628    90.00    90.00    7.895   49.40          337,890.64                   98003
 692   100.00   100.00    9.450   44.03          220,442.01                   33189
 677    80.00    80.00    7.750   49.77          499,220.33                   93033
 601    86.54    86.54    9.250   43.72          448,815.43                   90011
 648    95.00    95.00    9.525   29.58          224,590.37                   33160
 627    80.00    80.00    8.250   43.26          518,319.10                   96793
 606    90.00    90.00    9.225   45.35           61,038.06                   61422
 611    20.00   100.00   12.250   46.14           74,917.58                   91764
 695    20.00   100.00   13.550   42.28           73,923.60                   33165
 638    10.00   100.00   11.625   48.54           29,553.10                   92868
 618    20.00   100.00   13.850   53.62           36,964.34                   33142
 677    20.00   100.00   11.990   49.77          124,817.18                   93033
 592    80.00    80.00    7.590   59.00          116,061.71                   33142
 661    90.00    90.00    7.100   41.68          261,722.47                   33032
 592    85.00    85.00    9.070   49.78          475,494.50                   90810
 621    80.00    80.00    9.250   28.09          567,428.17                   91789
 607    80.00    80.00    8.750   40.86          191,439.58                   33328
 632    85.00    85.00    7.870   44.50          236,836.09                   89406
 626    90.00    90.00    8.645   47.36          184,277.91                   33324
 569    80.00    80.00    8.500   41.74          155,804.10                   89030
 710   100.00   100.00    8.990   45.85          233,349.93                   33168
 629    90.00    90.00    8.950   40.79          318,605.04                   92530
 610    20.00   100.00   11.700   47.07          127,401.06                   90746
 669    20.00   100.00   11.990   47.52           47,330.66                   89156
 634    20.00   100.00   11.500   37.61           54,910.41                   95340
 627    20.00   100.00   12.250   49.69          112,843.95                   92027
 621    20.00   100.00   11.990   28.09          141,792.28                   91789
 688    20.00   100.00   11.650   49.34           81,870.73                   92345
 752    20.00   100.00   11.150   41.50          107,721.32                   92592
 584    75.68    75.68    7.050   44.94          280,000.00                   34120
 509    70.00    70.00    9.250   32.29          136,140.69                   02865
 631    44.91    44.91    6.990   21.94          127,752.64                   06355
 526    84.66    84.66    8.650   44.69          159,415.94                   06704
 549    80.00    80.00    8.750   46.72          303,112.64                   02891
 622    85.00    85.00    8.500   50.87          338,955.41                   07826
 586    82.94    82.94   10.650   44.28          140,667.23                   78758
 615    89.07    89.07    7.600   44.88          133,327.12                   78664
 637    20.00   100.00   12.250   48.90          104,825.10                   92840
 637    20.00   100.00   12.250   44.41           61,896.70                   33168
 589    20.00   100.00    9.990   49.46           22,326.62                   77073
 591    40.00    40.00    7.900   47.15           59,749.43                   33434
 625    20.00   100.00   10.000   45.63           51,915.90                   77007
 619    20.00   100.00    9.990   49.16           27,485.12                   76013
 629    80.00    80.00    8.530   44.87           75,720.52                   78213
 513    40.00    40.00    8.750   30.14           49,824.21                   33064
 678    20.00   100.00   11.000   37.37           42,905.87                   93307
 677   100.00   100.00   10.775   26.32           59,862.11                   64050
 593    20.00   100.00   11.990   39.50           31,544.25                   32744
 641    80.00    80.00    7.450   41.43          268,000.00                   92120
 600    20.00   100.00   11.750   33.40           66,959.28                   93301
 633    80.00    80.00    8.250   29.91          203,204.54                   92411
 755    87.38    87.38    9.100   47.87          179,411.19                   33068
 680    80.00    80.00    7.000   47.37          485,564.65                   92344
 622    80.00    80.00    7.990   42.56          186,432.16                   32822
 506    60.95    60.95    8.800   50.11          159,537.74                   33634
 557    85.00    85.00    9.750   37.26           60,177.58                   65340
 501    74.47    74.47    9.550   46.87          632,297.93                   93532
 665    80.00    80.00    7.300   39.59          256,000.00                   94803
 661    80.00    80.00    6.950   46.15          440,000.00                   95442
 621    80.00    80.00    7.800   10.20          107,617.77                   63116
 693    97.00    97.00    8.650   46.84          129,671.32                   06095
 688    80.00    80.00    7.700   48.74          243,297.46                   33971
 594    80.00    80.00    7.825   40.52          126,645.66                   33952
 605    64.96    64.96    6.575   46.87          431,063.34                   92630
 703    80.00    80.00    7.100   43.69          212,109.86                   33971
 626    48.67    48.67    8.990   39.22          109,615.44                   33914
 502    59.67    59.67    9.375   31.14          111,712.75                   77069
 647    90.00    90.00    8.300   42.77          251,193.62                   89014
 556    75.00    75.00    8.950   40.84          235,588.21                   33068
 622    90.00    90.00    8.775   41.79          186,656.36                   89107
 688    80.00    80.00    7.950   42.30          524,000.00                   92869
 514    66.16    66.16    9.800   45.73          302,289.14                   90650
 553    73.91    73.91    8.725   53.01          169,840.68                   34232
 596    90.00    90.00    7.725   34.10           80,708.97                   74107
 519    78.96    78.96    8.650   53.29          303,094.25                   32835
 754    95.00    95.00    9.550   38.30           59,228.22                   29611
 605    90.00    90.00    8.500   47.68          557,299.34                   92703
 621    80.00    80.00    7.375   40.07          205,765.99                   33544
 699    55.47    55.47    6.550   42.11          134,728.34                   19020
 589    42.59    42.59    7.300   45.97          114,696.99                   85303
 645    20.00   100.00   12.150   43.55           61,748.70                   33971
 632    20.00   100.00   12.125   44.93           37,766.33                   80249
 647    20.00   100.00   10.545   42.23          149,699.60                   92882
 609    20.00   100.00   12.750   45.98           43,546.12                   80013
 605    20.00   100.00   12.500   38.01           26,565.24                   33905
 598    20.00   100.00   13.500   46.25           76,919.61                   34120
 586    20.00   100.00   13.500   23.64           25,967.23                   80401
 619    20.00   100.00   13.000   47.77           46,933.77                   33328
 640    20.00   100.00   11.000   47.14           35,934.61                   80602
 595    20.00   100.00   13.500   45.14           43,954.08                   33063
 731    20.00   100.00   10.250   44.70           51,911.67                   33186
 648    20.00   100.00   11.250   30.13           29,759.18                   33334
 599    20.00   100.00   13.750   46.43           31,961.89                   80601
 515    63.56    63.56    7.625   46.89          320,585.40                   90305
 525    69.88    69.88    8.750   44.31          289,525.83                   95330
 517    70.00    70.00   10.755   32.91          132,932.34                   85017
 513    70.00    70.00    8.800   49.63          234,285.04                   92394
 537    72.85    72.85    7.750   47.79          219,726.46                   93662
 678    80.00    80.00    7.750   44.13          307,919.00                   92571
 683    80.00    80.00    7.500   25.92          367,508.62                   92532
 628    80.00    80.00    7.890   40.52          433,082.04                   90745
 629    80.00    80.00    7.150    1.78          529,857.99                   34744
 622    80.00    80.00    7.000   39.38          531,999.33                   92630
 708    80.00    80.00    8.750   41.36          607,290.39                   91765
 512    85.00    85.00    9.250   42.99          267,535.20                   34953
 670    95.00    95.00    9.600   43.94          313,500.00                   92220
 610   100.00   100.00   10.350   47.94           90,848.68                   48915
 629    20.00   100.00   11.250    1.78          132,771.23                   34744
 709    20.00   100.00   10.015   42.75          151,728.54                   92647
 648    20.00   100.00   12.250   44.33          104,884.59                   90744
 659    20.00   100.00   11.990   49.92           60,928.99                   89108
 686    20.00   100.00   11.900   50.18           81,902.59                   33433
 681    20.00   100.00   11.400   43.20           71,049.69                   34952
 596   100.00   100.00    8.990   51.68          109,880.39                   48234
 628    80.00    80.00    8.475   47.17          414,975.98                   06488
 595    55.45    55.45    7.990   49.62          243,251.11                   06111
 696    85.00    85.00    6.990   41.15          216,415.85                   02910
 643    80.00    80.00    9.150   42.51          415,108.04                   11428
 507    80.00    80.00    9.750   44.71          191,637.29                   08054
 584    70.00    70.00    8.100   49.11          195,479.28                   07114
 625    80.00    80.00    7.625   48.32          255,670.10                   91761
 728    80.00    80.00    7.500   46.78          293,600.00                   90640
 644    80.00    80.00    7.550   40.58          388,000.00                   92626
 630    80.00    80.00    7.050   39.07          251,617.97                   92394
 581    80.00    80.00    8.050   43.23          433,504.92                   91342
 607    53.62    53.62    7.000   49.55          199,338.50                   33174
 512    55.00    55.00    8.550   42.76          164,837.26                   92879
 628    65.00    65.00    7.000   17.55          178,158.77                   06473
 657    80.00    80.00    8.325   28.51          707,254.20                   33428
 625    80.00    80.00    7.990   41.90          307,641.75                   91384
 592    85.00    85.00    7.550   45.43          317,803.98                   92220
 593    95.00    95.00    9.750   47.87          188,692.88                   21220
 621    80.00    80.00    8.400   42.13          563,388.22                   33133
 643    80.00    80.00    7.990   47.31          547,363.95                   90745
 625    90.00    90.00    8.525   48.02           61,139.00                   64052
 629    47.61    47.61    8.750   36.12          168,606.81                   92804
 605    80.00    80.00    9.000   46.42          478,702.40                   91745
 602    20.00   100.00   11.990   45.97          120,259.83                   92833
 728    20.00   100.00   11.400   46.78           73,277.80                   90640
 630    20.00   100.00   12.250   39.07           62,930.77                   92394
 581    20.00   100.00   12.300   43.23          108,382.07                   91342
 721    20.00   100.00   11.400   44.39           62,916.50                   33322
 693    20.00   100.00   10.000   41.33          171,691.82                   90066
 600    20.00   100.00   12.250   48.95           78,913.16                   91915
 663    20.00   100.00   12.275   38.93           36,260.31                   80219
 643    20.00   100.00   11.990   47.31          136,840.50                   90745
 620    20.00   100.00   12.250   44.46           32,364.38                   32216
 665    20.00   100.00   12.990   48.54          118,889.12                   85308
 602    80.00    80.00    6.850   52.17          187,993.87                   98387
 681    80.00    80.00    7.550   47.75          334,150.00                   95648
 614    20.00   100.00   12.630   48.72           29,370.32                   98292
 655    80.00    80.00    7.850   48.63          275,561.24                   89032
 665    20.00   100.00   10.550   21.17          113,818.34                   98198
 624    20.00   100.00   11.400   54.35           43,542.22                   39042
 705    21.79   100.00   10.550   43.77          194,689.28                   98006
 663    80.00    80.00    6.950   49.48          344,000.00                   92562
 667    80.00    80.00    7.300   34.33          217,292.50                   98375
 640    80.00    80.00    7.575   48.97          316,000.00                   33414
 606    20.00   100.00   12.530   44.91           69,128.54                   98023
 589    90.00    90.00   10.990   25.50           85,376.10                   78669
 639    20.00   100.00   12.600   30.15           22,551.15                   70056
 600    80.00    80.00    7.700   19.65           72,935.68                   70806
 642    94.84    94.84    9.400   17.20           57,714.18                   44203
 522    80.00    80.00    8.750   26.00          135,603.04                   06002
 739    89.90    89.90    9.800   33.41           80,710.19                   32209
 588    80.00    80.00    9.150   32.11          351,634.92                   97045
 611    80.00    80.00    7.650   36.14          244,000.00                   92394
 651    80.00    80.00    8.900   45.92          111,483.55                   66018
 613    20.00   100.00    8.500   50.55           22,329.62                   72712
 583    20.00   100.00    9.990   49.99           23,874.06                   77073
 664    90.00    90.00    8.075   33.70          115,711.19                   33033
 595    89.86    89.86   10.050   46.02           62,758.61                   63120
 595    20.00   100.00   12.840   46.39           24,969.71                   36854
 538    75.00    75.00   10.650   42.80          131,794.16                   85742
 525    80.00    80.00   10.600   30.64           57,748.84                   36032
 655    80.00    80.00    7.300   42.88          426,400.00                   90723
 655    20.00   100.00   10.250   42.88          106,372.66                   90723
 606    75.00    75.00    9.380   47.56          224,294.30                   78620
 576    20.00   100.00    9.990   35.74           36,118.43                   78613
 607    20.00    99.95    9.990   44.98           37,532.48                   78702
 651    20.00   100.00   12.250   49.41           92,818.82                   92555
 620    57.29    57.29    7.600   46.17          109,594.84                   85031
 722    54.55    54.55    7.450   37.93          147,909.53                   33161
 553    57.14    57.14    8.100   48.16          199,468.65                   32176
 521    40.96    40.96    9.500   49.84          169,661.54                   92867
 600    61.13    61.13    8.500   26.87          161,603.25                   63011
 608    80.00    80.00    8.450   40.76          171,880.72                   33407
 611    90.00    90.00    9.150   49.67          246,867.58                   33417
 554    70.27    70.27    8.450   40.53          259,356.66                   33182
 654    20.00   100.00   12.990   39.12           15,185.85                   17929
 500    65.00    65.00    9.550   52.49          129,743.85                   33484
 618    85.00    85.00    7.790   39.45          265,200.00                   33024
 570    62.80    62.80    8.040   38.68          291,665.94                   21673
 638    80.00    80.00    8.240   38.60          212,800.00                   33972
 643    80.00    80.00    8.390   43.63          184,000.00                   33015
 665    80.00    80.00    8.000   37.95           71,777.87                   30311
 664    80.00    80.00    8.350   49.90          259,876.64                   33146
 696    89.99    89.99    9.440   32.51           89,672.51                   32505
 560    85.00    85.00    8.390   53.34          118,701.93                   32244
 661    86.97    86.97    8.740   53.61          103,258.68                   32205
 587    90.00    90.00   10.640   49.71          186,006.16                   19901
 597    90.00    90.00    9.540   49.12          181,890.17                   34983
 593    67.88    67.88    8.700   27.32           92,781.40                   32955
 627    80.00    80.00    8.450   49.21          279,307.24                   34116
 694    80.00    80.00    7.850   45.91          343,584.36                   33175
 573    85.00    85.00    8.990   33.68          144,374.75                   30519
 600    80.00    80.00    8.840   49.09          248,574.14                   06351
 537    75.00    75.00    8.750   49.44          113,734.59                   48075
 630    85.00    85.00    8.940   49.86          100,018.46                   19124
 631    20.00   100.00   11.990   49.53           30,872.59                   48326
 736    20.00   100.00   11.440   52.96           99,868.59                   02125
 563    70.00    70.00    8.500   26.18           62,845.69                   37207
 710    20.00   100.00   10.840   49.04           61,457.85                   20110
 608    19.99    99.96   11.640   22.06           25,418.00                   46224
 519    75.00    75.00   11.050   29.63           74,892.71                   47386
 645    80.00    80.00    8.090   35.95          272,000.00                   20772
 528    73.67    73.67    8.450   53.29          220,453.21                   21742
 737    90.00    90.00    8.190   29.18          363,549.13                   33606
 657    90.00    90.00    8.940   35.39           67,232.75                   48210
 659    20.00   100.00   11.890   41.94          109,036.69                   53051
 672    80.00    80.00    7.600   47.07          420,000.00                   60646
 736    47.54    47.54    7.740   33.06          163,531.57                   60545
 609    20.00   100.00   12.600   48.72           59,339.62                   60453
 548    75.00    75.00    9.990   42.53          153,473.93                   60714
 622    20.00   100.00   12.500   49.52          115,879.38                   60015
 617    80.00    80.00    8.690    7.49          279,734.10                   60629
 552    80.00    80.00    9.950   52.52           95,495.47                   43123
 596    80.00    80.00   10.500   47.55           63,870.61                   44830
 596    80.00    80.00    8.850   43.67          107,691.18                   48205
 670    80.00    80.00   10.300   48.14           77,961.20                   49341
 584    80.00    80.00   10.100   47.97          107,928.24                   49319
 536    41.21    41.21    9.690   53.87          135,739.83                   06804
 588    90.00    90.00   10.190   48.60          141,955.29                   48823
 663    80.00    80.00    7.990   40.90          143,608.83                   02860
 658    19.98    99.98    9.850   43.00           24,504.58                   77449
 645    80.00    80.00    7.590   47.56           77,040.32                   75208
 561    80.00    80.00   10.940   49.02           89,468.75                   77076
 649    80.00    80.00    7.740   51.61          113,458.36                   77365
 649    20.00   100.00    9.950   51.61           28,348.57                   77365
 561    75.00    75.00    8.490   52.98           98,008.89                   75006
 654    18.12   100.00   10.250   56.99           79,578.56                   98077
 637    19.00    99.00   10.125   53.90           62,590.59                   96818
 567    75.12    75.12    9.475   41.92          319,359.53                   22192
 623    30.61    30.61    7.525   50.10           74,776.35                   76262
 614    75.00    75.00    7.025   49.62          280,197.98                   77354
 606    80.00    80.00    9.525   29.35           79,881.65                   75040
 659    84.88    84.88    7.525   35.35          105,783.67                   75006
 580    80.00    80.00    7.500   53.56          124,808.49                   99205
 796    20.00   100.00   10.890   44.32          100,013.68                   94565
 636    20.00   100.00   11.690   47.26           68,914.18                   95336
 683    25.24    99.99   10.890   41.48          168,536.01                   95757
 605    20.00   100.00   10.790   18.66           39,885.33                   93245
 712    80.00    80.00    7.340   42.04          408,000.00                   94806
 623    80.00    80.00    7.940   45.41          404,000.00                   95407
 682    20.00   100.00   11.490   42.32           85,888.25                   95670
 542    60.61    60.61   10.440   43.08          139,771.60                   93705
 677    80.00    80.00    8.390   49.12          594,400.00                   95037
 622    20.00   100.00   11.690   47.94           93,683.30                   94590
 624    80.00    80.00    7.915   45.38          328,000.00                   93638
 624    20.00   100.00   11.790   45.38           81,900.22                   93638
 612    69.60    69.60    7.765   37.38          367,500.00                   94565
 675    80.00    80.00    8.340   37.15          209,786.23                   84124
 718    76.92    76.92    7.190   40.79          499,271.21                   95122
 623    80.00    80.00    8.615   43.33          180,000.00                   93648
 623    20.00   100.00   11.740   43.33           44,944.63                   93648
 679    20.00   100.00   10.990   36.72          114,790.74                   92056
 598    83.82    83.82    9.090   44.92          716,516.88                   92201
 663    20.00   100.00   11.490   49.74           79,195.04                   92335
 643    20.00   100.00   10.390   41.91           95,601.69                   91763
 615    20.00   100.00   11.040   54.08           42,701.93                   80643
 719    20.00   100.00    9.890   46.30          105,653.50                   90003
 735    20.00   100.00   10.890   43.18           54,897.74                   92392
 609    20.00   100.00   11.040   53.31           50,309.30                   80919
 770    80.00    80.00    8.115   43.82          480,000.00                   90044
 628    80.00    80.00    7.790   43.22          255,276.06                   93505
 628    20.00   100.00   11.690   48.27           63,920.40                   93505
 626    20.00   100.00   11.690   45.16           92,884.31                   92083
 553    84.62    84.62    9.315   42.45          549,567.22                   90815
 587    90.00    90.00    9.365   38.34          272,488.61                   89031
 693    69.77    69.77    6.840   35.92          239,614.20                   91786
 622    80.00    80.00    7.750   42.24          227,350.06                   89145
 700    80.00    80.00    6.990   47.53          176,000.00                   80503
 686    80.00    80.00    7.440   27.53          175,200.00                   80221
 652    50.00    50.00    7.890   32.18          299,168.52                   94806
 602    90.00    90.00    9.300   49.15          639,000.00                   85296
 701    80.00    80.00    7.990   48.72          306,044.36                   92551
 677    80.00    80.00    6.350   43.16          431,205.12                   92592
 620   100.00   100.00    9.500   46.74          199,850.19                   53179
 638    20.01   100.00   11.690   45.91           39,911.61                   85031
 620    80.00    80.00    8.465   46.33          480,000.00                   90047
 638    80.00    80.00    8.790   46.82          154,841.85                   85301
 681     8.42    93.42   11.690   48.23           39,950.23                   91010
 570    78.69    78.69    8.750   40.79          192,351.41                   60181
 557    90.00    90.00    9.625   45.62          107,737.12                   70301
 627    68.00    68.00    8.625   35.41           40,606.44                   70807
 594    85.00    85.00    9.025   37.51          122,979.05                   70739
 598    90.00    90.00    8.850   34.92          143,754.75                   34609
 638    20.00   100.00   11.125   38.15           42,954.81                   32824
 514    44.00    44.00    8.750   28.86           65,885.26                   37814
 617    80.00    80.00    8.100   21.62          268,085.89                   92583
 605    80.00    80.00    7.200   50.39          279,919.52                   92324
 609    70.00    70.00    7.990   38.44          594,300.00                   92821
 618    80.00    80.00    7.150   35.85          322,320.00                   90650
 648    90.00    90.00    8.200   34.02          409,500.00                   92530
 670    80.00    80.00    6.985   44.07          150,647.34                   92274
 667    85.00    85.00    7.650   49.34          105,940.99                   93257
 647    80.00    80.00    8.700   42.75          111,599.10                   80909
 627    80.00    80.00    7.450   42.67          151,460.22                   85222
 604    80.00    80.00    7.700   40.14          200,000.00                   90605
 787    75.00    75.00    7.300   46.49          492,709.04                   06415
 667    90.00    90.00    8.450   40.96          238,257.77                   85024
 676    80.00    80.00    7.700   35.28          152,360.06                   48176
 660    80.00    80.00    8.300   44.36          281,600.00                   92223
 501    52.54    52.54   10.600   38.93          309,386.47                   91770
 661    20.00   100.00   10.750   41.11           24,333.29                   77083
 651    20.00   100.00   11.500   31.25           48,221.33                   95207
 633    20.00   100.00   11.750   43.61           61,872.50                   89146
 618    20.00   100.00   10.990   35.85           80,463.24                   90650
 652    20.00   100.00   12.000   38.35           48,743.32                   80239
 647    20.00   100.00   12.000   42.75           27,864.49                   80909
 630    20.00   100.00   11.250   44.92           73,798.80                   92591
 620    20.00   100.00   11.990   41.76           70,081.08                   95631
 647    20.00   100.00   11.750   43.33           55,531.76                   92583
 522    48.39    48.39    9.250   31.92          299,479.02                   92704
 572    61.00    61.00    8.250   45.96          345,607.04                   96740
 540    52.70    52.70    7.390   48.52          165,408.33                   33018
 561    90.00    90.00    8.500   23.90          143,736.42                   34480
 541    50.00    50.00   10.000   35.10           74,865.61                   33710
 537    60.00    60.00    8.500   44.32          299,265.28                   90011
 541    75.00    75.00    9.500   50.11          288,320.52                   93312
 593    70.00    70.00    8.750   51.86          181,576.57                   89107
 531    65.00    65.00   10.000   53.01          141,510.37                   32927
 564    56.55    56.55    8.990   33.99          237,107.07                   95959
 535    70.00    70.00    8.000   40.37          185,124.12                   85704
 664    90.00    90.00    7.490   39.00          398,992.19                   92335
 524    60.44    60.44    9.250   46.67          274,568.99                   92530
 592    95.00    95.00    7.990   13.60          269,067.12                   33411
 624    70.42    70.42    7.750   46.27          453,702.95                   94025
 606    95.00    95.00    7.500   38.15          293,840.20                   32817
 550    85.00    85.00    8.950   48.50          101,829.84                   97850
 654    46.51    46.51    7.200   54.50           99,762.21                   85029
 504    70.72    70.72    7.650   40.85          212,879.10                   92395
 648    90.00    90.00    8.350   43.65          772,045.48                   90806
 569    65.00    65.00    8.250   37.17          132,490.26                   85208
 573    72.97    72.97    7.950   49.50          134,630.33                   93215
 529    75.00    75.00    8.250   33.24          269,304.19                   92782
 650    50.48    50.48    7.250   49.07          312,014.44                   90241
 584    56.75    56.75    6.750   42.99          227,000.00                   90059
 512    70.00    70.00    9.750   43.19          167,682.00                   85741
 652    95.00    95.00    8.990   24.92          161,051.34                   32804
 635    70.77    70.77    8.375   31.77        1,000,000.00                   33767
 563    64.94    64.94    9.650   44.13          262,812.79                   85242
 634    95.00    95.00    7.500   42.74          251,185.99                   06513
 567    80.00    80.00    8.750   46.68          259,537.81                   06237
 644    78.71    78.71    7.150   48.04          488,000.00                   92336
 565    80.00    80.00    8.000   49.87          303,383.99                   94609
 696    95.00    95.00    7.950   43.28          218,500.00                   92582
 514    25.00    25.00    7.990   44.56          324,340.09                   92660
 563    70.00    70.00    8.250   38.43          216,825.40                   02878
 578    90.00    90.00    8.990   45.37          260,422.08                   02916
 615    65.94    65.94    8.500   45.81          226,942.83                   02905
 707    80.00    80.00    7.990   32.77          315,141.64                   01005
 592    18.18    18.18    8.500   47.06          159,707.16                   11372
 507    65.54    65.54    8.900   21.69           96,748.15                   18330
 605    85.00    85.00    7.150   47.83          216,053.93                   02861
 566    80.00    80.00    7.990   54.13          451,607.84                   11420
 552    69.41    69.41    7.500   45.76          321,181.16                   10305
 707    95.00    95.00    8.450   46.68          270,544.47                   06410
 599    70.00    70.00    6.990   29.17          245,000.00                   10304
 610    55.38    55.38    6.990   33.43          179,553.89                   02860
 627    74.91    74.91    7.990   34.85          411,163.43                   11691
 629    84.14    84.14    7.300   25.68          610,000.00                   10606
 692    67.52    67.52    7.375    0.00          393,478.58                   11714
 619    53.20    53.20    8.000   39.95          132,730.48                   32250
 536    69.47    69.47    7.400   37.33          197,796.64                   02885
 649    80.00    80.00    9.050   46.85          207,660.15                   34953
 649    20.00   100.00   12.900   46.85           51,963.13                   34953
 523    75.00    75.00    7.990   55.60          392,950.51                   10466
 645    80.00    80.00    7.990   51.82          248,000.00                   21144
 616    76.52    76.52    8.150   43.14          263,781.32                   92557
 665    90.00    90.00    7.400   43.31          504,000.00                   92646
 702    95.00    95.00    9.870   25.96          379,477.23                   33033
 519    77.27    77.27    9.600   46.61          169,908.25                   93307
 736    85.00    85.00    7.350   43.73          240,206.27                   80022
 711   100.00   100.00   10.200   44.70          139,759.60                   33033
 552    80.00    80.00    8.400   38.45          250,207.14                   93307
 551    90.00    90.00    8.150   47.64          149,276.24                   48237
 718    80.00    80.00    7.500   46.78          384,000.00                   90650
 618    85.00    85.00    7.300   40.74          305,567.59                   90044
 632    80.00    80.00    7.925   38.01          151,465.98                   80020
 702   100.00   100.00    9.950   36.28           97,867.45                   33710
 570    93.44    93.44    9.900   44.56          113,924.76                   33905
 721    80.00    80.00    7.900   49.31          474,080.00                   90302
 608    26.74    26.74    7.500   52.47          114,655.39                   90262
 576    65.00    65.00    8.990   48.55          283,216.47                   94589
 634    80.00    80.00    8.250   48.97          291,765.03                   89147
 596    10.20   100.00   13.100   45.30           24,983.04                   33147
 702    20.00   100.00   11.275   47.14           63,535.34                   33024
 627    20.00   100.00   10.500   42.06          145,524.76                   90242
 711    20.00   100.00   11.275   33.99           71,926.78                   33019
 649    20.00   100.00   10.750   30.14           57,913.93                   93550
 652    20.00   100.00   12.000   48.39           80,878.77                   92337
 625    20.09    20.09    7.500   34.91           85,939.07                   90270
 757    80.00    80.00    7.850   43.63          278,660.62                   95340
 629    85.00    85.00    9.625   45.04          466,592.99                   94607
 594    78.71    78.71    8.900   36.91          121,654.72                   23834
 565    54.29    54.29    8.050   30.51          189,783.24                   84532
 579    85.00    85.00    8.250   41.70          234,684.89                   60586
 506    57.59    57.59    7.750   46.99          109,686.41                   06360
 580    90.00    90.00    8.450   36.91          215,465.55                   60154
 566    75.00    75.00    8.990   41.13          373,958.19                   02126
 567    41.00    41.00    8.150   49.94           81,758.98                   93638
 515    55.56    55.56    8.100   45.80           99,734.33                   23661
 639    83.33    83.33    8.000   47.30          199,320.01                   32504
 621    80.00    80.00    7.450   47.81          671,089.85                   20841
 660    80.00    80.00    6.990   24.28          251,812.00                   92582
 551    75.00    75.00   10.675   32.90           72,586.05                   48328
 651    64.71    64.71    6.200   39.30          452,998.46                   95116
 590    77.94    77.94    8.650   44.11          376,873.24                   10469
 610    74.67    74.67    7.500   35.04          278,947.88                   10703
 635    82.80    82.80    7.300   45.04          283,496.80                   92345
 591    90.00    90.00    9.700   34.85          116,629.87                   50313
 670    85.00    85.00    8.950   37.78          301,076.28                   80249
 693    80.00    80.00    7.500   41.80          174,167.11                   60616
 526    18.18    18.18    8.900   32.28          199,548.82                   94939
 577    80.00    80.00    8.250   46.00          199,729.91                   22901
 602    85.00    85.00    9.050   47.90          233,238.77                   10537
 627    41.47    41.47    7.450   25.23          196,403.76                   60051
 556    68.36    68.36   10.390   41.83          174,711.43                   60014
 701    80.00    80.00    6.990   47.69          244,821.99                   20603
 580    90.00    90.00    7.950   33.91          203,999.13                   21015
 561    80.00    80.00    7.250   29.94          151,399.91                   92285
 617    90.00    90.00    7.950   47.15          332,609.00                   30082
 667    84.34    84.34    6.990   41.37          348,840.07                   90002
 562    85.00    85.00    7.700   47.09          432,814.29                   94605
 549    44.89    44.89    9.400   45.13          201,484.60                   50109
 694    85.00    85.00    9.400   51.57           72,951.38                   46235
 543    85.00    85.00    8.200   39.66          149,210.50                   33810
 651    57.97    57.97    6.750   39.56          119,583.22                   34442
 574    78.88    78.88    8.100   54.41          169,149.42                   30084
 549    80.00    80.00   10.000   46.60          171,691.78                   60651
 605    80.00    80.00    7.150   20.38          134,201.88                   60617
 673    84.89    84.89    8.200   44.56          550,363.44                   08043
 650    36.99    36.99    8.725   44.40          270,000.00                   32459
 618    70.00    70.00    9.000   45.38          176,008.53                   33903
 628    90.00    90.00    8.890   46.27          296,294.14                   91320
 553    80.00    80.00   10.350   43.55           56,705.51                   29624
 556    80.00    80.00    8.200   46.26          251,343.83                   93277
 549    70.00    70.00    9.990   19.11           55,899.43                   43157
 579    75.00    75.00    9.990   51.63           59,892.27                   23223
 586    90.00    90.00   10.450   49.24          539,655.20                   11520
 595    90.00    90.00    7.650   49.99          224,638.95                   60042
 613    80.00    80.00    8.500   44.25          638,432.58                   90631
 703    90.00    90.00    6.000   45.32          485,914.64                   90044
 604    50.00    50.00    7.400   34.84           90,619.97                   33018
 532    85.00    85.00    8.990   45.49          197,029.08                   34286
 660    90.00    90.00    8.700   41.95          179,576.87                   50310
 584    75.00    75.00    8.550   30.46          217,285.43                   60461
 622    80.00    80.00    7.800   50.53          130,031.95                   23702
 616    84.89    84.89    7.000   45.70          401,916.19                   10467
 604    44.91    44.91    8.600   16.96           74,820.04                   21875
 687    80.00    80.00    6.900   48.07          680,000.00                   91406
 562    90.00    90.00    8.950   28.71          202,047.86                   34741
 560    90.00    90.00    9.950   31.65          141,044.09                   45356
 516    58.82    58.82    8.750   26.09           49,883.62                   32209
 703    74.39    74.39    7.300   41.44           72,373.35                   77373
 684    54.55    54.55    5.990   48.00          298,794.09                   92704
 600    85.00    85.00    8.650   51.25          101,757.72                   33404
 630    80.00    80.00    7.250   45.07          295,575.78                   93722
 779    80.00    80.00    6.950   46.24          463,276.64                   90713
 694    80.00    80.00    9.500   42.23          399,702.16                   90810
 506    73.88    73.88   10.300   47.50          366,582.71                   08210
 615    85.48    85.48    7.950   38.49          212,000.00                   20743
 689    90.00    90.00    8.490   48.56          378,519.58                   92505
 670    70.00    70.00    7.350   52.13          212,143.03                   60620
 681    80.00    80.00    8.490   44.11          287,710.83                   89128
 560    39.05    39.05    8.300   23.07          122,686.20                   95204
 541    52.78    52.78    7.775   47.76           94,882.40                   93241
 548    76.91    76.91    8.600   40.43          138,865.99                   23666
 600    80.00    80.00    7.690   22.26          282,976.77                   22911
 631    80.00    80.00    7.990   47.82          191,478.46                   60449
 587    90.00    90.00    9.300   46.67          395,686.98                   90744
 536    75.00    75.00    7.900   50.70          258,441.81                   92345
 592    65.00    65.00   10.800   37.73          102,025.69                   17022
 646    80.00    80.00   10.500   34.71          739,592.98                   90029
 517    43.24    43.24   10.700   48.88          159,753.15                   92691
 691    80.00    80.00    8.250   49.60          528,000.00                   91752
 626    90.00    90.00    8.450   14.15          161,816.63                   93291
 651    80.00    80.00    8.350   46.21          491,485.46                   90806
 637    51.92    51.92    7.600   45.88          134,603.41                   93535
 595    69.71    69.71    7.300   52.37          271,489.79                   91764
 518    80.00    80.00    9.650   49.55          199,857.62                   60107
 623    61.60    61.60    8.050   33.66          384,560.80                   90630
 693    80.00    80.00    7.600   38.25          384,000.00                   92509
 625    80.00    80.00    7.875   59.57          418,832.37                   92879
 629    90.00    90.00   10.700   48.70           56,163.17                   62002
 600    46.15    46.15    8.700   40.01          179,830.05                   32708
 601    73.64    73.64    7.990   33.05          189,779.46                   93306
 605    80.00    80.00    8.400   38.89          187,511.94                   60652
 611    95.00    95.00    9.100   48.39          220,183.97                   93555
 689    85.00    85.00    9.400   47.81          318,101.93                   92551
 590    80.00    80.00    6.100   19.95          339,330.28                   92335
 634    62.73    62.73    7.950   34.24          275,244.21                   20772
 681    95.00    95.00    8.850   20.40          132,642.89                   73130
 540    72.41    72.41    8.550   50.60           97,513.04                   48235
 735   100.00   100.00    9.990   37.05          129,766.54                   06770
 547    71.69    71.69    8.990   45.01          221,756.43                   98188
 580    90.00    90.00   10.100   40.53          191,456.54                   32725
 630    90.00    90.00    7.900   46.88          553,500.00                   90260
 605    80.00    80.00    8.750   49.19          630,529.54                   92832
 612    85.00    85.00    9.100   40.33          161,150.44                   34669
 532    65.00    65.00   10.950   21.72          107,093.22                   19144
 521    85.00    85.00   10.750   45.66           64,501.40                   48227
 573    95.00    95.00   10.450   47.70          242,114.70                   60423
 636    94.34    94.34    7.975   48.12          749,125.71                   92683
 641    79.49    79.49    6.450   41.48          308,858.92                   34787
 517    70.00    70.00    8.450   52.48          118,705.54                   60623
 594    70.00    70.00    8.350   44.04          174,558.09                   71107
 698    61.62    61.62    7.650   41.86          174,776.10                   22193
 597    80.00    80.00    8.140   30.07          150,801.53                   33810
 713    80.00    80.00    7.900   43.79          232,000.00                   93534
 609    85.00    85.00    8.250   48.63          221,000.00                   98038
 619    80.00    80.00    7.500   59.00          378,063.68                   91746
 719    80.00    80.00    7.850   34.77          455,200.00                   92880
 626    90.00    90.00    9.550   39.07          173,896.69                   20785
 558    75.00    75.00    8.550   45.54          179,563.64                   34286
 683   100.00   100.00    9.650   40.39          177,556.71                   46307
 665    80.00    80.00    7.150   53.36          227,663.89                   60193
 759    80.00    80.00    7.150   48.96          154,971.22                   66216
 617    85.00    85.00    7.650   31.44          130,050.00                   32757
 618    90.00    90.00    9.990   29.72          700,739.49                   92880
 618    75.00    75.00    7.825   45.50          157,057.70                   03452
 605    80.00    80.00    8.000   44.91          168,262.62                   03060
 542    75.00    75.00    7.750   49.69          179,486.86                   34476
 750    80.00    80.00    8.050   49.45          371,001.65                   92879
 652    80.00    80.00    8.950   33.06          198,247.00                   85373
 678    80.00    80.00    9.400   43.75          192,000.00                   23141
 667    80.00    80.00    8.175   48.41          163,570.84                   54017
 592    40.97    40.97    6.700   39.13          179,166.10                   91761
 627    95.00    95.00    8.450   41.50          246,747.48                   89031
 626    90.00    90.00    9.000   48.60          224,298.27                   23188
 745    80.00    80.00    7.825   51.32          446,741.97                   11436
 604    80.00    80.00    8.180   42.50          175,539.93                   60435
 723    80.00    80.00    6.700   52.75          455,871.99                   92555
 549    23.86    23.86    6.650   30.54          135,769.56                   90603
 604    73.66    73.66    6.500   29.00          195,200.00                   20603
 759    90.00    90.00    9.150   44.70          233,498.79                   21061
 614    84.25    84.25    9.250   51.74          106,775.51                   28379
 525    61.82    61.82    8.600   43.23          169,592.09                   06519
 612    95.00    95.00   10.325   26.42          126,138.72                   30337
 667    89.44    89.44    7.850   47.65          402,013.62                   92201
 554    85.00    85.00    7.850   31.51          203,753.47                   87120
 633    90.00    90.00    9.775   46.84          202,344.58                   55016
 596    62.26    62.26    6.400   43.51          159,709.58                   95838
 691    80.00    80.00    7.990   41.22          560,000.00                   90005
 612    80.00    80.00    7.990   12.51          423,507.84                   90621
 621    89.22    89.22    7.950   47.27          207,000.00                   01344
 595    85.00    85.00    7.990   43.47          458,467.24                   92883
 659    70.00    70.00    7.150   31.80          118,617.81                   93241
 545    75.00    75.00    8.975   54.68          298,240.11                   89052
 556    64.15    64.15    8.350   49.00          169,570.70                   20640
 554    57.94    57.94    7.850   41.84          196,449.59                   33012
 615    80.00    80.00    8.060   42.36          131,646.46                   89032
 640    85.00    85.00    7.990   39.45          500,917.91                   92801
 625    67.60    67.60    9.050   45.68          483,587.88                   90262
 633    94.64    94.64    9.400   38.27          139,033.72                   33610
 693    85.00    85.00    7.950   22.00          475,441.12                   92354
 636    90.00    90.00    8.300   38.33           98,747.44                   64134
 688    80.00    80.00    8.050   36.14          177,910.98                   60087
 683    24.66    24.66    7.500   48.77           89,730.28                   91701
 621    80.00    80.00    7.950   32.94          187,485.15                   60624
 656    80.00    80.00    8.300   45.26          191,200.00                   06516
 521    65.00    65.00   10.650   50.67          288,798.89                   20901
 593    90.00    90.00    7.990   54.65          476,446.36                   92563
 522    58.24    58.24    8.700   45.49           98,767.24                   23452
 604    78.75    78.75    7.490   38.15          313,748.94                   20002
 614    80.00    80.00    7.700   38.46          301,219.55                   93551
 509    60.00    60.00    9.000   44.83          140,686.85                   23185
 614    85.00    85.00    9.050   40.51          721,319.44                   11210
 644    80.00    80.00    7.725   43.10          258,457.40                   65721
 575    85.00    85.00    7.650   43.56          224,593.04                   06334
 552    83.53    83.53    8.350   49.18          483,986.54                   91352
 588    90.00    90.00    8.200   35.67          449,632.58                   93312
 614    80.00    80.00    8.550   51.70          239,565.19                   80403
 684    75.00    75.00    9.300   38.01           71,102.08                   60643
 557    85.00    85.00    9.900   48.84          180,930.46                   99208
 612    44.48    44.48    7.750   31.85          148,682.45                   89123
 673    80.00    80.00    8.900   30.66          582,680.90                   90094
 632    88.13    88.13    7.900   48.99          296,178.45                   23435
 590    84.27    84.27    9.850   46.29          492,753.21                   95337
 627    46.94    46.94    6.850   42.51          229,724.25                   91746
 661    85.00    85.00    9.990   16.04           61,090.08                   16001
 608    95.00    95.00    9.100   52.99          303,744.97                   20772
 619    88.89    88.89   10.400   37.45           79,954.62                   33411
 648    80.00    80.00    7.600   46.05          319,584.67                   02780
 724    80.00    80.00    7.900   47.86          152,000.00                   33909
 742    67.65    67.65    7.950   23.28           80,279.55                   33602
 680    80.00    80.00    8.600   49.77          463,373.34                   92831
 619    53.25    53.25    6.850   52.38          205,000.00                   90003
 696    91.35    91.35    9.000   49.60          237,346.66                   60452
 678    90.00    90.00    8.990   42.10          571,903.90                   94503
 603    79.63    79.63    7.100   42.02          254,800.00                   33018
 680    89.84    89.84    8.330   27.60          229,416.81                   48336
 513    51.15    51.15    9.350   39.37           66,397.92                   23523
 546    67.42    67.42   11.025   49.85          599,137.08                   06824
 610    74.43    74.43    6.750   42.42          489,750.00                   91350
 595    72.70    72.70    6.990   53.83          284,055.49                   90044
 696    80.00    80.00    8.350   41.63          578,905.35                   92602
 612    77.97    77.97    6.200   49.45          499,000.00                   91001
 645    80.00    80.00    8.500   37.67          115,883.88                   60515
 580    75.00    75.00    8.000   44.08          147,094.83                   32812
 632    72.44    72.44    8.750   17.65           63,639.14                   06519
 653    80.00    80.00    8.100   35.67          111,702.44                   32210
 739    85.00    85.00    6.000   31.85          305,296.02                   21017
 626    85.00    85.00    7.550   47.41          106,145.42                   34691
 639    95.00    95.00    7.125   41.36          398,050.00                   89139
 597    84.97    84.97   10.600   27.80          129,930.62                   33714
 630    80.00    80.00    8.800   35.04          151,895.88                   30034
 674    80.00    80.00    8.050   41.36          227,388.12                   93534
 598    75.00    75.00    9.950   27.60           70,372.31                   17315
 520    52.26    52.26    8.360   55.38          149,717.45                   96019
 686    75.00    75.00    7.400   50.57          748,285.92                   90057
 665    85.00    85.00    9.950   48.47           81,489.62                   19141
 606    85.00    85.00    8.050   39.18          296,701.61                   06606
 531    69.75    69.75    9.500   47.92          131,635.91                   33916
 604    49.86    49.86    8.700   28.89          174,586.64                   20737
 556    40.08    40.08   11.100   32.39          157,875.96                   95355
 761    80.00    80.00    7.550   43.15          650,553.75                   90028
 622    69.49    69.49    8.850   38.70          204,861.63                   33763
 542    85.00    85.00   12.530   37.26           50,111.35                   27260
 622    80.00    80.00    7.850   47.36          138,811.04                   60133
 663    90.00    90.00    8.550   38.74          193,500.00                   89101
 629    83.33    83.33    7.250   36.42          349,624.91                   90047
 549    99.60    99.60    9.850   32.85          251,651.86                   02910
 779    84.64    84.64    7.400   34.11          225,483.49                   60002
 610    89.98    89.98    9.750   50.22          245,752.74                   60463
 629    95.00    95.00    7.700   47.31          132,874.57                   32043
 506    73.28    73.28    6.990   54.22          254,368.03                   20744
 587    84.00    84.00    9.600   47.96          209,590.56                   22973
 607    95.00    95.00    8.500   38.45          142,150.96                   63301
 642    83.33    83.33    7.650   44.13          300,000.00                   22192
 632    69.16    69.16    6.490   35.18          287,000.00                   92509
 702    80.00    80.00    8.175   41.50          459,100.32                   11208
 571    75.00    75.00    7.150   41.71          254,718.93                   92557
 633    40.00    40.00    7.120   41.79          530,000.00                   07940
 511    75.00    75.00    7.850   42.98          191,598.96                   34711
 604    80.00    80.00    7.800   53.87          169,242.15                   81506
 649    80.00    80.00    8.600   49.95          311,440.53                   19720
 634    80.00    80.00    7.350   49.25          412,000.00                   91977
 583    90.00    90.00    8.250   33.10          314,746.52                   92346
 654    80.00    80.00    7.850   18.52           99,791.12                   78745
 667    80.00    80.00    7.750   47.55          530,800.00                   92867
 645    53.33    53.33    9.850   50.34          359,502.65                   33060
 699    90.00    90.00    7.750   48.89          225,248.95                   60914
 508    80.00    80.00    9.225   55.54           93,352.69                   40216
 615    80.00    80.00    7.990   43.21          117,497.95                   06082
 566    90.00    90.00    9.700   47.38          139,233.65                   85616
 647    80.00    80.00    8.000   30.09          158,079.00                   23233
 584    71.12    71.12    6.900   51.03          159,626.33                   93307
 615    80.00    80.00    9.650   54.24          165,280.11                   34759
 595    80.00    80.00    7.990   49.52          166,062.11                   60620
 625    80.00    80.00    8.450   51.37          203,934.59                   92315
 630    90.00    90.00    8.050   47.41          209,521.17                   23236
 652    90.00    90.00    6.600   44.04          224,710.90                   33884
 672    80.00    80.00    8.150   38.36          243,797.86                   60804
 674    80.00    80.00    8.950   50.19          325,386.63                   92571
 577    80.00    80.00    8.750   25.85          333,019.40                   33060
 712    95.00    95.00    8.850   43.54          403,477.48                   92506
 555    90.00    90.00    8.050   50.94          561,923.65                   90720
 563    89.82    89.82    9.275   47.46          101,123.72                   32311
 604    52.65    52.65    9.800   53.88          152,287.06                   56472
 641    70.00    70.00    7.850   47.53           68,757.36                   19124
 559    85.00    85.00   10.800   53.16          237,910.85                   02780
 500    75.00    75.00    9.700   38.72          115,335.28                   34465
 661    90.00    90.00    8.450   40.24          206,617.20                   60804
 600    74.20    74.20    8.700   33.59          255,295.77                   93536
 542    78.43    78.43    8.800   52.97           79,945.20                   48224
 566    62.86    62.86    6.900   28.47          109,722.50                   33172
 574    64.95    64.95    8.650   35.83          152,327.51                   32931
 610    85.00    85.00   10.650   46.07           97,211.65                   54945
 658    70.94    70.94    6.950   32.55          113,216.47                   19082
 639    80.00    80.00    7.050   47.86          367,582.81                   89142
 671    90.00    90.00    8.850   37.52          190,475.03                   21217
 635    85.00    85.00    9.450   40.48          287,716.89                   48114
 500    52.65    52.65   10.200   17.41          128,834.56                   93728
 539    66.53    66.53    9.600   17.90           82,379.82                   30101
 671    90.00    90.00    7.990   37.20          855,000.00                   92807
 513    42.37    42.37    8.950   44.58          224,624.63                   20151
 640    59.59    59.59    8.500   43.41          145,890.77                   89146
 592    85.00    85.00    8.250   48.79          443,342.95                   90011
 595    66.50    66.50    7.600   52.81          228,247.63                   06516
 574    78.52    78.52    8.950   38.68          211,646.34                   33613
 614    95.00    95.00    7.850   49.18          336,945.37                   90601
 615    95.00    95.00   10.600   40.14          341,597.43                   60540
 555    85.00    85.00    9.600   33.93          180,952.26                   34236
 528    64.44    64.44   11.850   38.92          144,870.05                   06776
 721    80.00    80.00    7.500   43.85          235,160.00                   93307
 681    90.00    90.00    8.725   41.39          315,900.00                   33326
 755    95.00    95.00    8.999   41.03          342,000.00                   89015
 733    20.00   100.00   10.400   30.25           56,330.70                   33032
 703    80.00    80.00    8.250   49.91          228,000.00                   33313
 617    80.00    80.00    7.890   45.14           83,825.97                   33161
 590    57.08    57.08    8.650   45.67          124,778.15                   33311
 736   100.00   100.00    8.500   46.35           79,853.58                   15236
 552    84.98    84.98    9.250   47.92          258,793.77                   33157
 701    80.00    80.00    7.250   45.51          391,579.94                   33169
 626    80.00    80.00    8.390   34.37          108,596.33                   33415
 655    80.00    80.00    9.140   49.41          415,332.88                   33145
 650    80.00    80.00    6.990   47.63          159,603.47                   55309
 586    80.00    80.00    8.890   46.83          283,520.29                   33170
 617    80.00    80.00    8.590   48.75          179,676.58                   02126
 603   100.00   100.00   10.400   47.22          154,809.55                   17815
 673    80.00    80.00    7.490   20.80          232,277.39                   33460
 678    80.00    80.00    8.200   49.20          239,532.99                   33177
 652    80.00    80.00    8.440   43.70          159,703.54                   33460
 686    79.99    79.99    7.850   45.07          259,100.00                   33032
 627    80.00    80.00    8.060   45.50          251,785.75                   33142
 621    80.00    80.00    9.840   48.49          220,000.00                   33068
 630    99.95    99.95   12.440   46.27           72,243.16                   49442
 622    80.00    80.00    8.140   45.18          120,000.00                   06460
 649    95.00    95.00    8.840   46.94          198,645.36                   33023
 633    80.00    80.00    8.020   47.40          188,290.25                   28562
 641    80.00    80.00    8.950   53.29          227,619.66                   06106
 542    75.00    75.00    9.500   41.90          393,164.37                   34119
 792    84.99    84.99    8.750   45.73          218,600.00                   33993
 666    90.00    90.00    9.290   34.56          211,171.29                   32174
 663    80.00    80.00    7.750   39.92          215,539.69                   06108
 663    20.00   100.00   12.540   39.92           53,958.47                   06108
 645    79.97    79.97    8.590   49.02          221,201.81                   33972
 590   100.00   100.00   10.790   48.43          209,762.74                   27603
 565    80.00    80.00   10.150   49.12          104,664.17                   53208
 632    75.00    75.00    9.040   41.53           89,852.65                   53209
 675    80.00    80.00    6.440   49.94          271,200.00                   33150
 627    80.00    80.00    9.300   37.07          139,917.31                   33023
 633    80.00    80.00    8.740   57.24          111,804.89                   30088
 748    80.00    80.00    7.350   46.44          328,000.00                   33437
 648    80.00    80.00    9.990   49.12          287,613.76                   02907
 546    62.20    62.20    9.150   36.92          127,295.98                   32168
 637    20.00   100.00   13.290   45.89           93,938.94                   23693
 675    90.00    90.00    9.140   46.57          197,223.22                   34759
 646    80.00    80.00    8.590   49.26          262,400.00                   34116
 512    51.75    51.75    9.990   47.28          192,241.85                   33161
 610    80.00    80.00    7.490   52.03          197,355.98                   33936
 636    79.96    79.96    8.940   40.99           66,606.18                   27604
 678    80.00    80.00    7.950   42.91          264,000.00                   33178
 658    80.00    80.00    8.540   40.41          200,800.00                   33323
 610    80.00    80.00    7.840   36.42          156,471.85                   34741
 635    80.00    80.00    8.450   47.05          267,504.43                   32738
 680    80.00    80.00    7.750   40.21          142,894.84                   34951
 595    95.00    95.00    9.990   49.76          155,625.29                   30017
 595    90.00    90.00    9.850   47.26          165,517.09                   37421
 540    67.84    67.84    9.600   42.42          142,941.52                   33054
 572    75.00    75.00    8.090   18.10          194,612.00                   33311
 530    85.00    85.00    9.600   37.85           80,604.23                   46619
 627    20.00   100.00   13.190   49.14           59,932.84                   22031
 526    80.00    80.00    9.400   48.02          171,738.74                   48848
 715   100.00   100.00    8.990   14.11           88,852.77                   28377
 633    80.00    80.00    7.650   49.17          110,958.23                   28574
 500    51.72    51.72    9.890   48.72           74,897.26                   18018
 657    80.00    80.00    8.400   40.85          251,370.10                   02865
 504    79.98    79.98    9.450   46.59          114,677.39                   33617
 526    69.31    69.31   10.150   30.23           69,909.27                   49461
 540    70.00    70.00    9.900   48.32          153,789.50                   34287
 557    75.00    75.00    8.850   22.94          122,790.52                   33610
 551    85.00    85.00   10.090   42.33           84,888.39                   48205
 504    75.00    75.00    9.440   49.10          340,736.01                   34135
 627    20.00   100.00   12.570   45.04           88,908.89                   01902
 637    20.00   100.00   12.000   48.76           59,730.53                   33912
 728    80.00    80.00    7.840   45.58          150,883.57                   33525
 584    80.00    80.00    8.590   29.41          119,784.38                   49128
 522    80.00    80.00    9.900   56.38           72,700.48                   48224
 553    69.69    69.69    8.000   53.94          111,274.05                   33709
 627    80.00    80.00    8.950   47.49          239,599.62                   02860
 627    20.00   100.00   14.240   47.49           59,968.61                   02860
 548    85.00    85.00   10.750   32.58          106,128.93                   46236
 694    19.99    99.85   12.840   39.72           58,892.93                   01605
 627    79.99    79.99    8.990   51.47          180,800.38                   34667
 526    85.00    85.00    9.740   36.27          118,831.73                   46158
 591    74.91    74.91    8.240   36.50          205,602.40                   33971
 644    80.00    80.00    6.940   46.98          464,000.00                   20877
 625    80.00    80.00    8.790   44.11          189,425.70                   02861
 635    20.00   100.00   13.990   46.53           67,949.52                   02909
 622    78.79    78.79    7.690   32.44          259,439.22                   20744
 564    60.00    60.00    8.140   48.96          233,539.09                   34683
 700    90.00    90.00    8.890   28.36           84,457.10                   44320
 561    47.44    47.44    8.700   51.21          184,673.81                   22191
 642    80.00    80.00    8.900   52.72          127,784.25                   46953
 567    77.70    77.70    8.600   48.81          229,587.57                   20743
 682    90.00    90.00    8.740   47.07          310,283.53                   33027
 630    80.00    80.00    9.590   47.30           72,800.00                   21215
 569    76.97    76.97    8.500   53.61           68,374.61                   49756
 556    95.00    95.00   10.750   54.84          108,258.83                   37013
 716    86.23    86.23    7.990   36.87          287,750.12                   34667
 643    79.99    79.99    7.100   46.13          160,470.42                   38004
 620    80.00    80.00    8.690   38.30          147,680.74                   48126
 547    84.91    84.91    9.190   39.38          224,642.94                   33774
 635    80.00    80.00    9.590   47.26          123,932.86                   27703
 543    80.00    80.00   10.150   40.01          147,009.21                   48186
 522    80.00    80.00   11.250   43.40           74,723.54                   28602
 631    70.00    70.00    8.050   48.93          232,400.00                   06010
 705    80.00    80.00    7.950   44.13          364,000.00                   20853
 620    80.00    80.00    8.650   42.58          251,819.58                   20705
 617    89.99    89.99    9.590   39.67          166,157.15                   38125
 689    80.00    80.00    8.610   49.73          239,570.54                   02863
 624    80.00    80.00    9.150   49.93          139,775.97                   38119
 626    19.99    99.99   11.090   51.08           79,807.65                   20603
 621    80.00    80.00    8.250   35.09          190,033.26                   33071
 669    20.00   100.00   11.390   49.37           93,843.18                   60639
 632    75.00    75.00    8.290   41.95           94,258.42                   60804
 611    80.00    80.00    8.450   46.02          255,526.63                   60712
 503    68.18    68.18    9.900   54.82          157,284.71                   60651
 631    17.16    97.16   10.990   40.19           63,431.29                   60607
 665    80.00    80.00    7.550   48.48          139,063.00                   60139
 537    68.35    68.35    9.300   53.03          161,748.73                   60803
 606    80.00    80.00    7.450   46.79          249,833.39                   60008
 743    94.98    94.98    8.840   41.61          149,344.70                   60617
 601    90.00    90.00    9.900   47.58          296,853.57                   60632
 528    75.00    75.00    9.820   47.34          189,486.19                   60632
 625    80.00    80.00    7.690   48.13          127,723.91                   60609
 664    80.00    80.00    8.350   51.59          399,245.08                   60056
 678    79.97    79.97    7.990   49.49          117,461.02                   60419
 614    20.00   100.00   11.750   48.35           73,532.55                   60647
 685    79.99    79.99    8.200   48.30          191,526.59                   60101
 655    58.75    58.75    7.250   48.81          177,809.24                   60025
 650    90.00    90.00    8.250   25.09           89,826.64                   60466
 633    63.38    63.38    8.500   44.89           89,835.28                   60609
 718    80.00    80.00    7.990   40.59          238,000.00                   60707
 718    20.00   100.00   10.750   40.59           59,432.20                   60707
 677    80.00    80.00    6.990   46.64           84,190.83                   54603
 681    75.00    75.00    6.990   26.78          164,591.08                   60477
 593    80.00    80.00    7.125   51.74          229,045.89                   54173
 585    80.00    80.00    7.990   51.79          142,110.85                   60438
 622    80.00    80.00    9.550   54.09          222,072.67                   60609
 640    80.00    80.00    8.190   49.58          391,679.04                   60048
 626    79.98    79.98    8.700   42.84          138,206.78                   18334
 545    74.21    74.21    9.850   43.56          140,739.20                   06708
 627    62.22    62.22    8.490   46.95          111,794.58                   06114
 628    72.88    72.88    6.915   30.88          265,330.99                   02891
 692    67.92    67.92    7.240   43.89          325,230.94                   22554
 590    72.50    72.50    8.790   39.91          144,749.97                   23502
 507    73.82    73.82    9.940   48.71          202,724.84                   02905
 539    81.03    81.03   10.740   41.66          164,312.13                   23452
 695    20.00   100.00   11.125   28.45           84,354.20                   92584
 646    90.00    90.00    8.690   37.09          116,583.59                   33712
 622    80.00    80.00    9.300   36.08           87,325.08                   48240
 610    80.00    80.00    9.800   45.38          128,760.01                   48094
 543    80.00    80.00    9.590   38.25          104,490.37                   49508
 588    80.00    80.00    9.850   45.14           93,019.05                   48021
 525    80.00    80.00   10.640   35.96           61,503.66                   48906
 582    80.00    80.00    9.850   54.98          103,758.56                   43162
 557    80.00    80.00    9.950   42.89          110,947.26                   46360
 577    80.00    80.00   10.000   33.65           71,738.75                   44314
 537    70.00    70.00    9.700   49.95          168,994.13                   33647
 642    80.00    80.00    7.990   41.83          140,417.53                   61088
 637    80.00    80.00    9.650   49.82          183,474.66                   01105
 534    64.32    64.32    9.790   38.97          282,469.91                   28646
 527    80.00    80.00   10.490   42.77           95,845.06                   85032
 640    85.00    85.00    9.690   33.87          101,804.85                   45216
 622    80.00    80.00    9.900   45.53          144,522.18                   34652
 631    80.00    80.00    9.700   47.21          109,390.77                   33711
 655    80.00    80.00    8.800   46.76          141,470.18                   32935
 524    65.00    65.00    8.625   47.03          201,140.52                   33168
 520    80.00    80.00    9.740   51.97          215,694.56                   08010
 529    85.00    85.00   10.000   39.80           92,526.01                   75116
 558    90.00    90.00   10.550   44.86           84,015.92                   64134
 580    90.00    90.00   10.850   46.62           88,551.14                   63137
 698    80.00    80.00    9.300   40.47          116,557.52                   75088
 621    80.00    80.00    8.050   43.54           83,831.50                   77082
 576    90.00    90.00   10.490   31.33           98,880.69                   63136
 650    80.00    80.00    8.390   38.98          142,532.67                   75052
 632    84.30    84.30    9.490   53.22          113,275.42                   75041
 630    80.00    80.00    9.000   39.78          131,782.07                   75035
 664    80.00    80.00    8.650   54.22          164,507.51                   77055
 615    80.00    80.00    8.750   37.12           87,846.99                   77339
 680    80.00    80.00    8.240   48.21           79,041.50                   75254
 772    80.00    80.00    7.625   25.95          328,636.64                   07001
 560    79.40    79.40    8.990   43.63          329,286.62                   07063
 525    85.00    85.00   11.190   49.29          212,279.90                   18210
 529    85.00    85.00   10.490   46.14          117,158.64                   18062
 539    77.45    77.45    9.590   44.32          142,292.01                   18360
 642    20.00   100.00    9.990   37.33           61,916.84                   95965
 587    68.97    68.97    8.953   44.85           79,866.64                   23139
 643    80.00    80.00    8.240   35.50           86,181.01                   24017
 663    80.00    80.00    7.600   39.15          121,332.95                   24012
 634    49.44    49.44    8.950   47.87           66,638.63                   17111
 632    71.50    71.50    7.500   54.15          114,143.70                   98367
 613    80.00    80.00    7.725   19.98           91,913.63                   98815
 541    90.00    90.00    8.875   47.73          287,512.03                   96748
 616    57.14    57.14    8.790   48.85          199,655.13                   20151
 622    40.33    40.33    8.840   28.20          120,793.49                   20186
 618    85.00    85.00    9.250   49.95          197,739.60                   23434
 523    71.85    71.85    9.940   49.93          244,667.91                   22191
 665    80.00    80.00    7.350   49.90          179,812.50                   80513
 704   100.00   100.00    9.400   52.32           92,359.50                   76133
 701    69.07    69.07    6.850   47.99           80,067.54                   77449
 547    62.99    62.99    8.650   41.74           79,858.00                   79508
 655    80.00    80.00    8.000   48.27          147,700.10                   75224
 728    92.00    92.00    8.375   38.87           76,901.77                   76115
 576    80.00    80.00    9.250   39.36           67,893.42                   75092
 559    90.00    90.00    9.490   49.37          109,636.34                   75006
 647    80.00    80.00    7.000   34.50          124,491.31                   76051
 706    80.00    80.00    7.640   49.80          115,277.06                   75040
 686    50.00    50.00    6.850   41.54          112,213.42                   93304
 525    79.99    79.99   10.650   50.50           95,876.23                   77072
 657    80.00    80.00    6.875   47.47          200,800.00                   97060
 633    61.00    61.00    7.750   29.66          112,609.51                   98404
 683    20.00   100.00   10.890   39.43           64,280.25                   95307
 667    20.00   100.00   11.490   46.77          143,764.94                   95118
 650    77.52    77.52    8.000   50.04          499,997.00                   94044
 654    80.00    80.00    8.415   42.91          440,000.00                   90201
 699    20.00   100.00   10.890   49.02           95,658.15                   93635
 545    75.00    75.00    9.900   44.60          412,296.63                   94605
 619    20.00   100.00   10.840   50.85           83,906.13                   95758
 696    85.00    85.00    7.465   42.29          374,000.00                   94806
 665    80.00    80.00    7.990   47.14          158,262.56                   98589
 642    80.00    80.00    7.615   45.08          400,000.00                   95116
 645    80.00    80.00    8.115   45.02          231,200.00                   95361
 644    80.00    80.00    7.640   50.70          240,000.00                   95307
 623    80.00    80.00    7.590   48.01          308,899.12                   94533
 623    20.00   100.00   11.540   49.07           77,225.82                   94533
 643    80.00    80.00    9.140   39.16          423,829.47                   94531
 667    80.00    80.00    7.965   48.59          340,000.00                   94590
 753    80.00    80.00    7.965   49.65          319,346.96                   94804
 638    80.00    80.00    7.565   33.88          191,950.00                   95621
 628    20.00   100.00   10.640   48.07          120,459.26                   95355
 658    79.37    79.37    8.115   49.96          500,000.00                   95111
 658    20.63   100.00   11.540   49.96          129,875.26                   95111
 658    80.00    80.00    7.865   41.95          480,000.00                   95624
 658    20.00   100.00   11.540   41.95          119,884.87                   95624
 551    76.90    76.90    7.875   52.71          312,349.53                   98122
 645    80.00    80.00    7.840   35.13          387,648.52                   95401
 673    20.00   100.00   10.990   43.96           66,873.03                   92805
 508    75.00    75.00    9.840   52.48          291,956.59                   92105
 609    19.80    99.00   11.390   47.69           98,833.89                   92026
 608    80.00    80.00    9.815   57.12          368,000.00                   92805
 628    20.00   100.00   11.690   44.45           80,899.24                   91744
 594    95.00    95.00    9.265   28.07          355,505.02                   90002
 669    20.00   100.00    9.990   44.55           81,815.20                   92139
 618    20.00   100.00   11.390   47.90           70,270.94                   92501
 630    20.00   100.00   11.790   45.50           64,920.91                   89128
 601    80.00    80.00    8.690   46.22          459,564.35                   92840
 682    95.00    95.00    9.750   17.52          103,550.00                   80022
 694    20.00   100.00    9.890   48.61          122,774.42                   90220
 661    80.00    80.00    7.290   42.43          307,971.10                   92274
 657    20.00   100.00   11.790   48.65          114,860.06                   90011
 672    80.00    80.00    7.565   48.21          412,000.00                   92882
 620    80.00    80.00    8.300   43.20          267,715.62                   91913
 757    85.00    85.00    7.700   44.63          169,634.07                   85302
 758    80.00    80.00    8.120   47.44          424,000.00                   90044
 641    80.00    80.00    8.240   40.29          163,513.69                   85051
 597    90.00    90.00    7.990   54.72          336,814.72                   92376
 635    79.99    79.99    8.615   45.87          183,900.00                   85205
 662    75.76    75.76    8.365   46.91          500,000.00                   93030
 665    44.30    44.30    7.325   41.29          205,522.13                   91710
 707    80.00    80.00    6.790   43.05          233,600.00                   92509
 651    80.00    80.00    7.740   43.60          163,649.81                   93292
 671    79.59    79.59    7.690   43.19          307,708.72                   92571
 621    80.00    80.00    8.615   49.32          238,400.00                   92234
 600    78.35    78.35    8.000   51.63          380,000.00                   90221
 712    80.00    80.00    7.690   39.23          343,674.70                   92028
 627    20.00   100.00   11.840   45.84          113,897.60                   90201
 611    85.00    85.00    8.615   49.70          242,250.00                   85388
 629    93.33    93.33    7.390   54.94          405,070.28                   92584
 623    87.27    87.27    7.690   37.57          528,000.00                   92880
 663    80.00    80.00    8.240   46.71          154,101.99                   80465
 641    90.34    90.34    8.990   33.55          238,105.42                   93536
 581    75.00    75.00    8.271   41.01          299,424.61                   92374
 640    20.00   100.00   11.540   48.43           97,306.54                   90650
 641    80.00    80.00    8.590   43.56          143,895.06                   80013
 649    85.00    85.00    9.040   48.18          357,000.00                   95386
 618    81.36    81.36    8.440   50.10          240,000.00                   85050
 635    15.00    95.00   10.000   43.70           93,624.55                   87508
 644    43.89    43.89    6.500   44.97           75,424.43                   85364
 728    78.26    78.26    6.875   42.81          180,000.00                   85037
 657    74.43    74.43    7.740   45.76          294,000.00                   92551
 559    35.20    35.20    8.740   48.00           87,846.68                   33024
 572    65.78    65.78    8.850   53.39          172,705.35                   33024
 547    73.66    73.66    8.850   52.04          150,742.83                   33056
 569    84.38    84.38    8.490   42.26          175,178.12                   33147
 581    58.09    58.09    7.790   41.29          188,400.87                   33013
 664    90.00    90.00    7.750   45.80          163,391.52                   33172
 579    94.50    94.50   11.050   54.86          170,041.04                   33054
 532    70.00    70.00    9.350   48.26          192,204.54                   33033
 682    20.00   100.00    9.890   52.29           70,836.57                   91763
 611    90.00    90.00    8.400   42.41          351,000.00                   93704
 662    80.00    80.00    7.790   44.02          244,350.00                   85353
 617    20.00   100.00   11.690   49.25          102,904.37                   90805
 589    80.00    80.00    8.040   48.04          315,364.83                   92345
 647    80.00    80.00    9.115   46.34          191,880.20                   98408
 650    80.00    80.00    7.340   49.66          156,437.35                   85033
 563    85.00    85.00    8.252   46.67          151,857.03                   93215
 530    70.00    70.00    9.940   48.54          188,743.82                   85323
 642    80.00    80.00    8.140   46.18          162,080.12                   85208
 802    80.00    80.00    8.025   43.72          259,950.00                   89147
 544    90.00    90.00    8.750   54.10          129,519.51                   49221
 613    87.59    87.59    8.750   53.12          126,779.19                   60643
 558    90.00    90.00    8.750   44.83          229,100.98                   55116
 539    43.85    43.85    8.975   46.71           85,358.12                   02301
 530    84.97    84.97    9.500   33.18          121,319.28                   60914
 527    80.00    80.00    8.750   37.60          375,346.29                   60532
 588    80.00    80.00    8.990   44.19          191,682.36                   60120
 537    78.95    78.95   10.490   53.80          119,855.37                   32433
 549    72.07    72.07    9.740   41.56           92,119.56                   70068
 674    80.00    80.00    8.275   34.41          116,000.00                   32809
 625    80.00    80.00    9.625   49.09          134,205.28                   30331
 558    85.00    85.00   10.200   41.85          112,905.03                   30120
 695    90.00    90.00    6.600   59.34          988,299.27                   91206
 651    55.38    55.38    7.500   41.93          359,519.32                   90042
 601    90.00    90.00    8.250   44.07          288,900.00                   93257
 703    80.00    80.00   10.000   48.92          390,713.00                   92563
 588    95.00    95.00   10.450   37.73           60,675.74                   18344
 612    87.57    87.57    7.400   37.91          306,500.00                   07031
 640    20.00   100.00   13.990   50.23           64,364.33                   02889
 589    73.97    73.97   10.990   53.91          171,351.33                   01516
 607    80.00    80.00    7.500   26.73          191,569.85                   06450
 607    20.00   100.00   12.450   26.73           47,962.35                   06450
 628    83.01    83.01    7.350   49.35          253,413.70                   02911
 504    68.69    68.69   11.850   41.25          135,878.11                   08046
 645    91.83    91.83    8.500   44.58          426,218.46                   07083
 662    86.55    86.55    9.350   38.62          332,688.60                   34116
 611    90.00    90.00    7.850   52.12          202,077.06                   33909
 541    70.00    70.00    8.500   37.72          174,679.69                   06615
 519    67.00    67.00    9.850   58.51          167,268.60                   02813
 582    80.00    80.00    7.750   45.22          178,689.17                   19148
 540    75.00    75.00    9.050   38.81          211,903.20                   07062
 622    65.00    65.00    7.250   27.62          292,500.00                   20680
 620    75.00    75.00    7.000   42.74          420,000.00                   11412
 528    65.00    65.00    9.990   43.31          123,334.37                   08046
 501    63.77    63.77   11.700   29.70          131,877.74                   08004
 586    75.00    75.00    9.150   47.21          131,250.00                   33782
 532    75.00    75.00    7.850   41.81          419,620.61                   11434
 540    71.88    71.88    9.990   38.68          229,691.54                   07504
 658    20.00   100.00   11.775   32.34           59,945.32                   34952
 605    86.90    86.90    9.400   44.39          125,743.81                   21239
 591    90.00    90.00   10.750   41.53          179,878.01                   60435
 694    90.00    90.00    7.550   48.03          504,000.00                   93536
 685    20.00   100.00   11.350   38.71           92,713.14                   89110
 763    20.00   100.00   10.750   51.53           91,823.67                   91744
 758    90.00    90.00    8.700   52.48           50,251.36                   73703
 617    20.00   100.00   11.990   48.82          115,830.31                   92804
 653    20.00   100.00   12.000   48.30          121,821.92                   92563
 636    90.00    90.00    9.900   47.65           76,242.41                   32208
 662    20.00   100.00   11.600   48.36           92,686.07                   91744
 691    20.00   100.00   11.350   41.64           58,618.39                   92405
 669    20.00   100.00   11.500   44.35           95,691.37                   90003
 580    80.00    80.00    8.325   41.17          415,449.13                   91402
 627    80.00    80.00    8.850   28.92          128,000.00                   85042
 650    20.00   100.00   11.500   47.36           62,441.40                   93552
 590    20.00   100.00   11.750   48.26           85,268.29                   92585
 649    80.00    80.00    8.500   47.93          240,000.00                   92301
 626    20.00   100.00   11.150   42.08           44,871.61                   92410
 674    20.00   100.00   11.500   43.69          124,996.07                   93030
 681    20.00   100.00   11.200   40.08          132,624.69                   92804
 723    80.00    80.00    6.975   48.25          253,906.27                   93313
 723    20.00   100.00   10.850   48.43           63,480.69                   93313
 777    20.00   100.00   10.850   44.11           85,838.68                   92530
 611    80.00    80.00    7.250   47.70          192,000.00                   34758
 577    80.00    80.00    7.990   43.99          299,954.55                   91402
 630    52.17    52.17    8.525   36.49          180,000.00                   89110
 614    90.00    90.00    5.990   39.15          270,881.52                   92236
 624    20.00   100.00   11.800   45.57           30,314.39                   92346
 631    80.00    80.00    7.875   37.56           74,252.65                   32244
 548    29.59    29.59    7.875   44.80          144,692.53                   91790
 802    20.00   100.00   10.300   48.38           77,733.20                   92557
 568    85.00    85.00    9.820   42.86          347,851.34                   34953
 569    85.00    85.00   10.900   34.88           66,202.02                   48228
 627    80.00    80.00    8.990   35.01          139,690.03                   33619
 627    20.00   100.00   12.800   35.01           34,965.95                   33619
 657    90.00    90.00    7.250   36.82          647,071.35                   95139
 713    20.00   100.00   11.275   42.01           95,801.61                   90221
 673    80.00    80.00    7.950   43.91          406,400.00                   90003
 673    20.00   100.00   11.775   43.91          101,475.95                   90003
 625    20.00   100.00   11.750   49.07          117,455.62                   91724
 610    85.00    85.00    7.500   39.31          450,500.00                   91340
 548    80.00    80.00    9.275   36.91           75,938.85                   44052
 649    80.00    80.00    9.300   16.85           50,295.35                   44052
 572    90.00    90.00    9.050   42.92          401,058.26                   98226
 662    80.00    80.00    7.800   49.98          398,710.65                   98125
 662    20.00    99.98   11.350   49.98           99,666.28                   98125
 511    80.00    80.00   10.650   47.57           75,881.47                   44460
 626    20.00    99.95   12.050   53.63           19,177.95                   36618
 629    14.99    94.99   12.200   41.17           32,314.06                   98037
 584    85.00    85.00    8.675   48.27           93,279.09                   50312
 629    80.00    80.00    7.450   41.17          172,366.23                   98037
 675    20.00   100.00   11.500   46.55          172,832.56                   94015
 630    80.00    80.00    6.800   47.28          269,671.78                   92307
 630    20.00   100.00   11.350   47.34           67,432.49                   92307
 594    90.00    90.00    7.650   47.92          269,412.95                   93591
 631    20.00   100.00   12.200   32.92           39,167.49                   98660
 631    80.00    80.00    7.506   32.92          156,643.73                   98660
 659    80.00    80.00    9.150   47.44          133,712.98                   99669
 744    80.00    80.00    6.850   44.67          264,000.00                   93536
 640    80.00    80.00    6.700   48.17          443,200.00                   95037
 668    80.00    80.00    7.225   47.78          188,000.00                   92277
 668    20.00   100.00   10.250   47.78           46,940.36                   92277
 703    80.00    80.00    8.300   12.86           51,958.76                   21216
 691    90.00    90.00    8.500   48.17          628,846.92                   96825
 675    80.00    80.00    7.700   46.55          690,510.44                   94015
 675    90.00    90.00    8.350   52.40          242,541.38                   93710
 652    80.00    80.00    7.990   48.74          392,000.00                   95829
 673    20.00   100.00   10.350   49.43           23,770.45                   46124
 647    80.00    80.00    8.350   43.36          431,200.00                   92627
 626    20.00   100.00   11.700   41.14           29,972.22                   70817
 593    91.98    91.98    9.800   49.83          418,287.31                   97701
 546    80.00    80.00    9.500   27.27          555,173.04                   85233
 670    90.00    90.00    9.050   48.88          112,316.18                   30314
 642    85.00    85.00    8.283   33.51          153,555.66                   31322
 619    90.00    90.00    8.990   24.84           74,576.40                   52802
 559    90.00    90.00   10.500   35.42          156,411.67                   30127
 621    90.00    90.00    9.550   47.67          204,898.00                   20705
 623    90.00    90.00    9.050   47.57           71,882.36                   39209
 649    90.00    90.00    8.850   31.46          471,695.28                   33133
 616    85.00    85.00    8.925   49.85          203,015.89                   87111
 656    80.00    80.00    7.325   45.38          424,000.00                   20720
 564    90.00    90.00    8.900   44.31          166,219.36                   35126
 527    85.00    85.00    9.450   42.22          118,881.22                   32311
 541    75.00    75.00    9.340   17.63           96,323.81                   19120
 634    20.00   100.00   13.440   31.81           31,951.60                   43229
 683    20.00   100.00   10.625   45.48           38,891.54                   06111
 632    20.00   100.00   12.375   41.19           49,885.05                   60409
 627    20.00   100.00   11.790   45.85           49,891.15                   85015
 621    20.00   100.00   11.990   38.69           14,773.89                   40440
 534    64.33    64.33   11.050   34.21          311,324.37                   48348
 687    20.00   100.00   10.890   43.00           97,780.34                   95407
 631    75.00    75.00    7.690   22.44           59,737.38                   86409
 627    20.00   100.00   11.875   42.92           32,341.37                   61611
 631    88.13    88.13    8.500   51.52          166,799.92                   01420
 622    75.00    75.00    8.000   53.82          253,956.08                   01915
 644    90.00    90.00    9.550   20.35           69,577.54                   38134
 606    90.00    90.00    9.380   45.02          286,372.38                   60618
 705    82.32    82.32    6.940   49.38          324,632.25                   60453
 613    80.00    80.00    7.140   48.58          213,455.39                   38002
 615    75.00    75.00    7.800   46.70          277,951.11                   01922
 634    20.00   100.00   11.750   40.38          106,834.99                   92376
 573    48.00    48.00    8.150   39.72          359,499.57                   95472
 638    20.00   100.00   11.990   25.54           29,956.13                   64030
 677    20.00   100.00    9.500   45.33           22,717.59                   75061
 551    49.70    49.70    8.315   28.88           68,779.88                   93212
 614    80.00    80.00    8.990   46.72          295,678.13                   95121
 606    80.00    80.00    8.940   41.15          179,801.36                   92201
 634    20.00   100.00   11.790   42.40           81,146.18                   92507
 661    20.00   100.00   10.990   37.01           46,914.46                   89108
 653    90.00    90.00    8.015   43.36          579,661.05                   94577
 624    20.00   100.00   11.875   44.95           76,884.49                   95695
 600    20.00   100.00   11.690   40.11           38,340.00                   85029
 603    20.00   100.00   11.690   48.72           52,917.20                   89119
 691    20.00   100.00   10.640   45.89           31,937.21                   80501
 517    61.92    61.92    9.850   17.30          186,565.88                   02131
 642    20.00   100.00   13.000   46.47           30,164.73                   30045
 664    20.00   100.00   11.990   49.81           57,732.71                   33463
 670    20.00   100.00    9.990   50.66           70,273.59                   33165
 610    15.00    95.00   11.590   54.87           24,718.52                   32818
 509    50.43    50.43    9.390   48.98          117,759.60                   33311
 605    20.00   100.00   11.290   43.13           34,952.46                   33147
 573    90.00    90.00    9.140   39.55          107,910.19                   48219
 688    20.00   100.00   10.740   43.56           58,909.76                   32132
 667    20.00   100.00   12.640   50.36          102,896.18                   01902
 604    80.00    80.00    7.990   43.11          142,013.19                   30620
 650    20.00   100.00   11.990   50.43           63,829.29                   33313
 626    20.00   100.00   13.190   40.19           36,967.03                   19973
 611    20.00   100.00   11.490   30.29           27,763.87                   21215
 598    75.00    75.00    8.620   49.88          487,028.86                   33064
 680    19.98    99.97   10.740   42.70           35,894.99                   32216
 627    20.00   100.00   13.290   30.75           36,967.78                   33404
 513    70.00    70.00    8.000   54.33          174,525.59                   33023
 514    74.99    74.99    9.450   24.95          208,729.21                   30145
 624    20.00   100.00   12.750   52.72           72,928.21                   21703
 581    64.91    64.91    7.950   27.93          171,798.04                   32837
 572    90.00    90.00    9.490   54.08          113,173.76                   48235
 640    85.00    85.00    8.800   48.18          174,090.26                   28043
 568    79.96    79.96    9.150   32.54           86,015.37                   28021
 649    80.00    80.00    8.150   39.98          106,681.64                   49504
 655    20.00   100.00   12.175   47.00           75,915.05                   60639
 566    90.00    90.00    8.870   45.97          323,264.58                   60061
 555    80.00    80.00   10.240   39.72          115,802.48                   48202
 628    80.00    80.00    7.990   35.75          143,608.83                   08081
 624    20.00   100.00   11.490   50.50           51,932.44                   33056
 533    67.58    67.58    8.450   44.40          172,571.98                   32504
 621    20.00   100.00   12.890   38.43           45,756.07                   33559
 622    20.00   100.00   12.640   50.38           49,949.60                   34234
 729    20.00   100.00   10.190   41.92           67,483.68                   92346
 580    80.00    80.00    8.100   48.49          247,341.16                   08690
 638    80.00    80.00    6.935   47.06          495,865.68                   92530
 600    90.00    90.00   10.390   37.64           44,925.79                   79104
 655    20.00   100.00    9.850   37.86           37,929.73                   75181
 747    85.00    85.00    7.240   33.59           76,258.63                   63137
 636    80.00    80.00    9.400   45.74          360,000.00                   77396
 615    83.32    83.32    7.750   47.96          184,000.18                   77479
 601    85.00    85.00    8.600   28.82           89,035.86                   15120
 557    75.00    75.00    7.900   23.94           89,751.07                   75253
 626    81.27    81.27    7.650   26.36           98,861.66                   79110
 685    85.00    85.00    7.275   36.87           82,191.68                   75217
 524    82.00    82.00   10.275   42.23          188,281.28                   75006
 652    80.00    80.00    8.400   51.74           71,820.04                   75217
 601    80.00    80.00    8.440   47.07          307,236.38                   98031
 614    80.00    80.00    7.500   33.41          368,000.00                   94621
 680    80.00    80.00    7.865   50.60          275,909.55                   95307
 678    80.00    80.00    7.990   50.41          402,902.61                   90033
 533    85.00    85.00    9.240   50.10          381,695.93                   94533
 730    80.00    80.00    7.515   45.86          488,000.00                   91914
 618    80.00    80.00    8.690   49.02          115,726.74                   97918
 651    85.50    85.50    7.000   46.26          513,000.00                   91950
 656    85.00    85.00    7.840   54.49          241,571.79                   89156
 519    75.00    75.00    9.905   44.82          422,975.28                   93036
 611    90.91    90.91    7.250   44.82          299,570.04                   89031
 560    69.77    69.77    7.400   19.81          239,266.41                   80207
 771    80.00    80.00    8.115   30.11          109,600.00                   89120
 636    20.00   100.00   11.790   42.47           34,957.40                   85009
 583    85.00    85.00    8.740   42.75          146,707.17                   85006
 552    90.00    90.00    8.750   39.87          130,196.39                   60805
 597    65.89    65.89    8.750   41.79           84,920.95                   49202
 589   100.00   100.00    8.750   24.95          119,621.05                   63042
 626    85.00    85.00    8.750   40.73           42,316.32                   65625
 583    95.00    95.00    8.750   35.10           94,778.95                   64735
 547    75.00    75.00    8.750   33.83          123,462.08                   63123
 529    54.67    54.67    8.850   25.60           81,816.56                   02745
 671    95.00    95.00    9.250   48.27          191,497.45                   01108
 649    38.67    38.67    7.850   40.28          136,118.63                   02143
 591    70.69    70.69    8.750   43.53           81,809.24                   60643
 575    85.00    85.00    8.750   21.60           76,428.83                   62226
 535    78.87    78.87   10.750   49.89          111,872.36                   28806
 632    20.00   100.00   13.290   43.69           42,972.08                   33034
 576    73.33    73.33    6.890   48.20          131,666.38                   33168
 572    69.89    69.89    8.540   40.09           64,881.33                   15147
 581    68.70    68.70    6.840   53.54          236,715.09                   33144
 578    85.00    85.00    8.290   47.39           93,321.35                   15227
 676    80.00    80.00    8.800   48.23          176,000.00                   33142
 627    80.00    80.00    7.840   53.29          407,630.40                   33134
 587    90.00    90.00    9.190   41.89           66,494.30                   17701
 643    80.00    80.00    8.640   43.14           71,871.94                   15229
 607    80.00    80.00    7.700   47.22          223,517.83                   32712
 590    90.00    90.00    8.940   49.57          230,014.85                   33309
 637    20.00   100.00   13.290   47.03           32,778.71                   18969
 691    91.84    91.84    7.890   44.31          225,000.00                   33032
 633    80.00    80.00    7.990   48.75          223,006.36                   34953
 635    75.00    75.00    6.790   45.71          317,928.48                   33470
 621    20.00   100.00   13.290   40.03           54,964.28                   33068
 611    75.00    75.00    8.500   43.27          243,277.71                   01844
 647    79.98    79.98    9.800   47.66           88,255.14                   01832
 633    20.00   100.00   13.290   33.53           26,382.86                   19074
 638    20.00   100.00   13.090   47.61           45,968.74                   33972
 628    20.00   100.00   11.390   48.51           95,904.81                   33141
 629    20.00   100.00   10.890   48.86           31,165.52                   33069
 512    56.25    56.25    8.510   25.07          103,310.95                   28411
 612    80.00    80.00    8.100   38.67          171,658.43                   19468
 606    80.00    80.00    8.490   37.31           83,845.95                   16508
 607    90.00    90.00    8.750   50.03           89,843.52                   16148
 642    80.00    80.00    7.890   44.80          282,400.00                   33018
 567    61.85    61.85    8.140   49.51          200,604.09                   33135
 621    80.00    80.00    9.740   44.78           47,932.13                   48213
 709    80.00    80.00    7.300   27.25          192,596.29                   53142
 663    75.00    75.00   10.850   28.51           97,391.27                   30354
 682    80.00    80.00    7.850   49.56          350,083.48                   33324
 645    20.00   100.00   10.490   42.73           52,336.85                   23834
 645    19.99    99.96   11.990   49.99           55,351.88                   33972
 675    20.00   100.00   10.940   49.96           70,322.99                   33314
 627    20.00   100.00   12.990   37.02           34,975.66                   33023
 679    77.93    77.93    7.100   32.38           82,798.69                   30120
 627    20.00   100.00   13.290   48.09           40,573.63                   32809
 646    80.00    80.00    7.640   23.89           75,834.42                   27103
 573    85.00    85.00    9.440   47.44          162,105.46                   32962
 606    80.00    80.00    7.990   40.91          124,691.73                   30127
 625    80.00    80.00    6.990   41.01          263,345.71                   01906
 667    79.98    79.98    7.900   53.25          179,550.00                   32218
 660    95.00    95.00    9.090   48.90          153,650.63                   23704
 624    80.00    80.00    7.940   29.72          337,600.00                   20886
 682    90.00    90.00    9.940   43.66           55,724.38                   28655
 500    20.00   100.00   11.990   49.88           40,964.36                   33169
 604    20.00   100.00   11.390   50.72           46,953.39                   06790
 638    20.00   100.00   13.290   48.07           50,367.27                   34953
 561    75.00    75.00    8.340   40.26           97,315.62                   48220
 743    89.99    89.99    8.340   46.95          129,134.43                   30297
 579    66.67    66.67    7.250   34.27          199,785.69                   33024
 660    90.00    90.00   10.340   38.39           71,910.37                   21216
 567    64.96    64.96    8.390   35.97           82,345.50                   33704
 630    19.98    99.96   10.140   41.80           27,114.75                   55944
 677    20.00   100.00   10.940   37.33           71,921.26                   33173
 730    20.00   100.00   11.440   34.30           31,968.61                   33166
 654    90.00    90.00    8.900   32.40           61,096.85                   21217
 666    20.00   100.00   10.740   39.76           61,929.20                   33127
 729    20.00   100.00   10.990   34.98           16,781.83                   27292
 552    80.00    80.00    9.450   34.90          153,513.28                   33760
 561    89.99    89.99   10.400   39.30          173,386.70                   30458
 670    20.00   100.00   10.100   43.18           47,937.10                   33056
 595    78.73    78.73    8.300   47.34          232,065.81                   34116
 654    74.29    74.29    6.390   46.87          207,420.66                   32792
 631    95.00    95.00    9.590   41.88           61,659.87                   44445
 606    84.62    84.62    7.940   54.05          219,548.76                   19464
 631    85.00    85.00    8.590   47.31          186,863.75                   33971
 598    85.00    85.00    8.990   35.93           76,373.42                   38305
 630    19.99    99.98   13.290   49.20           48,518.46                   33909
 567    80.00    80.00    8.190   40.90          243,800.22                   20895
 581   100.00   100.00   10.390   44.22          107,867.01                   38366
 500    80.00    80.00    9.790   44.06           92,670.17                   38305
 620    20.00   100.00   13.340   38.18           36,905.47                   48126
 679    79.99    79.99    7.700   48.64          205,418.63                   32837
 654    80.00    80.00    6.440   48.39          459,382.32                   33707
 605    72.67    72.67    6.950   45.18          124,854.28                   33778
 643    89.44    89.44    8.450   38.23          160,702.29                   34208
 637    20.00    99.98   13.390   44.73           35,277.58                   20653
 629    80.00    80.00    7.390   48.07          103,761.83                   47905
 594    90.00    90.00    9.690   49.25           85,377.83                   37134
 655    79.99    79.99    8.240   50.63          163,418.01                   33983
 655    19.98    99.96   12.290   48.68           40,816.79                   33983
 601    60.00    60.00    7.900   44.84          345,484.16                   20105
 652    80.00    80.00    7.750   49.49          231,784.33                   34234
 690    79.79    79.79    6.990   34.63          224,442.38                   20629
 590    85.00    85.00    9.550   29.20          146,833.59                   48035
 686    80.00    80.00    8.200   49.39          207,830.19                   02909
 596    80.00    80.00    7.640   47.05          239,769.76                   22026
 572    90.00    90.00    9.590   54.28           93,812.88                   38128
 632    80.00    80.00    8.650   46.60          423,696.45                   20882
 632    20.00   100.00   12.500   46.60          105,917.78                   20882
 608    88.19    88.19    8.300   47.81          317,248.19                   21087
 555    78.26    78.26    8.590   52.85          251,816.38                   22015
 639    80.00    80.00    8.690   37.68          112,720.19                   48184
 683    95.00    95.00    9.190   49.69          180,213.53                   33510
 631    80.00    80.00    9.300   42.73          499,704.74                   20136
 674    90.00    90.00    9.890   43.24           71,964.40                   48219
 659    79.85    79.85    8.390   49.81          219,830.06                   21236
 659    19.96    99.82   12.390   49.81           54,956.28                   21236
 561    85.00    85.00   10.840   36.39           66,225.89                   48202
 653    80.00    80.00    8.700   44.96          100,622.92                   38116
 628    80.00    80.00    7.690   39.90          334,971.43                   32817
 639    80.00    80.00    8.590   40.39          139,897.99                   34608
 639    20.00   100.00   13.090   40.39           34,976.23                   34608
 691    20.00   100.00   10.840   45.60           16,581.45                   50208
 612    80.00    80.00    8.090   10.35          451,899.01                   53051
 628    80.00    80.00    7.500   48.56          239,760.40                   62467
 561    80.00    80.00    9.490   34.91          135,797.30                   60436
 604    87.00    87.00    8.990   47.44          352,121.83                   60804
 646    90.00    90.00    8.950   35.04          161,729.76                   60453
 677    89.71    89.71    8.040   38.40          156,809.00                   60073
 623    20.00   100.00   12.990   46.60           38,373.31                   60156
 670    86.81    86.81    7.990   50.14          225,504.17                   60504
 598    88.27    88.27    7.990   41.02          229,300.11                   60623
 630    20.00   100.00   12.575   48.24           37,171.61                   60090
 640    85.00    85.00    7.750   33.90          186,601.49                   60619
 627    20.00   100.00   12.600   49.91           70,346.58                   60707
 585    85.00    85.00    8.400   49.32          229,323.21                   60107
 607    77.39    77.39    7.450   46.46           88,511.83                   60628
 621    83.16    83.16    8.740   46.07          315,779.68                   60641
 642    79.28    79.28    7.750   30.24          439,590.98                   60641
 722    20.00   100.00   10.190   45.78           37,551.67                   60473
 562    85.00    85.00    8.990   49.39          148,503.90                   60628
 662    20.00   100.00   11.040   49.63           47,549.04                   60139
 626    20.02   100.00   13.290   42.10           34,627.49                   18334
 560    85.00    85.00    8.990   48.25          182,447.66                   06082
 658    78.00    78.00    7.590   45.17          194,570.89                   02909
 513    75.00    75.00    9.000   48.21           69,634.86                   08332
 660    20.00   100.00   11.990   48.24           41,763.67                   34232
 514    51.67    51.67    9.790   21.54          154,783.14                   07731
 705    85.00    85.00    6.850   47.79          526,368.24                   91701
 634    80.00    80.00   10.550   46.84           80,703.87                   33971
 514    80.00    80.00   11.840   52.04          175,841.92                   23518
 650    20.00   100.00    9.950   15.93           41,943.19                   77007
 569    90.00    90.00    9.490   42.15          121,318.91                   63130
 602    80.00    80.00    8.500   49.96           69,073.34                   75227
 672    90.00    90.00    9.590   26.62           34,150.09                   64128
 626    20.00   100.00    9.950   46.52           28,361.59                   76117
 626    88.96    88.96    7.440   34.64          248,535.21                   75082
 662    79.79    79.79    7.750   47.10          149,654.63                   78218
 576    80.00    80.00    8.900   33.37           59,160.64                   63121
 579    88.70    88.70   10.690   34.13           78,409.39                   76148
 641    80.00    80.00    8.690   40.10           75,375.93                   77015
 589    58.33    58.33   10.140   43.01           68,974.41                   77049
 630    20.00   100.00    9.950   36.17           32,955.37                   75035
 682    90.00    90.00    8.940   38.91           71,879.65                   66608
 664    20.00   100.00    9.950   49.97           41,144.27                   77055
 618    20.00   100.00    9.950   48.81           23,824.04                   75402
 668    79.99    79.99    7.090   46.96          192,481.14                   75098
 668    19.98    99.98    9.890   45.69           48,133.96                   75098
 619    80.00    80.00    7.740   43.97           67,056.52                   64138
 613    87.68    87.68    8.650   47.50           86,084.72                   77060
 637    85.00    85.00    9.000   44.04           77,846.09                   77338
 680    80.00    80.00    7.690   48.09           64,261.10                   77088
 620    79.98    79.98    7.190   43.09           63,747.76                   66614
 633    20.00   100.00    9.950   22.06           43,940.48                   77096
 752    89.98    89.98    8.940   26.65           46,621.95                   64134
 752    85.00    85.00    7.840   33.45           67,857.68                   64134
 701    85.00    85.00    8.150   21.01          156,940.89                   76088
 701    85.00    85.00    8.150   20.99          156,940.89                   76088
 580    65.03    65.03    8.040   33.55          224,807.59                   20744
 580    77.33    77.33    7.540   34.69          665,000.00                   20772
 552    90.00    90.00    9.340   46.62          143,778.50                   08610
 577    80.00    80.00    8.890   39.56          203,863.94                   08215
 664    81.96    81.96    7.890   42.69          208,566.98                   08234
 537    80.00    80.00    8.775   20.34          114,202.12                   78613
 638    79.99    79.99    8.190   49.82          295,385.92                   77042
 589    79.29    79.29    8.390   44.97          102,878.04                   78251
 533    88.70    88.70    8.990   44.37          146,107.88                   77373
 677    70.00    70.00    7.500   12.81           97,780.44                   78250
 647    79.99    79.99    7.250   27.96           90,973.89                   78418
 583    75.00    75.00    8.740   30.75           81,824.61                   78016
 599    79.90    79.90    8.640   47.53           70,584.24                   78412
 641    79.99    79.99    7.750   49.58          115,737.83                   78251
 568    75.00    75.00    8.500   36.06           74,638.59                   78744
 502    75.00    75.00    9.350   45.89           80,875.69                   77396
 625    82.48    82.48    7.390   27.35           96,279.01                   77489
 597    90.00    90.00    9.840   44.96          107,898.53                   19124
 563    90.00    90.00    9.990   30.96           71,903.44                   18229
 640    85.00    85.00    7.650   47.32          129,766.97                   22963
 568    77.78    77.78    9.850   42.44           69,903.28                   21211
 616    85.00    85.00    8.890   34.03          101,827.73                   15330
 509    63.42    63.42    9.100   52.54          240,610.28                   98118
 630    80.00    80.00    8.100   41.11          222,213.07                   98023
 640    80.00    80.00    6.600   34.37          115,850.95                   99301
 649    80.00    80.00    7.250   44.44          111,879.99                   99212
 657    80.00    80.00    7.500   49.06          608,000.00                   96825
 701    80.00    80.00    7.250   44.10          599,357.04                   96753
 681    76.43    76.43    6.950   36.72          401,250.00                   96768
 654    80.00    80.00    7.750   39.65          171,633.45                   96732
 595    80.00    80.00    7.250   40.37          599,357.04                   96819
 623    57.78    57.78    6.590   42.53          129,832.51                   21017
 502    69.92    69.92    9.940   47.35           92,873.95                   23434
 639    79.80    79.80    8.140   38.56          161,865.41                   23434
 588   100.00   100.00    8.750   45.22           89,843.52                   43055
 611    89.90    89.90    8.750   50.52           93,435.00                   43207
 572    90.00    90.00    9.500   51.69           86,271.49                   43206
 575    90.00    90.00    9.500   41.05          147,365.93                   45224
 606    80.00    80.00    8.750   46.92           79,062.29                   79907
 589    80.00    80.00    9.390   35.11           52,719.63                   77575
 574    80.00    80.00    8.140   45.91          127,747.88                   77318
 643    80.00    80.00    7.940   46.93           95,789.32                   78063
 614    63.44    63.44    8.250   19.86           58,039.35                   77060
 647    86.33    86.33    7.890   22.45          116,127.45                   77429
 585    80.00    80.00    8.640   41.86           83,850.61                   77066
 630    90.61    90.61    8.125   40.76           89,247.14                   75040
 635    80.00    80.00    7.890   51.04           74,537.34                   75040
 647    80.00    80.00    7.690   53.35          187,594.50                   75454
 626    80.00    80.00    7.900   41.82           71,851.12                   76119
 564    90.00    90.00    9.240   49.49           85,365.71                   76031
 681    80.00    80.00    6.890   32.73           91,767.47                   75224
 618    62.04    62.04    8.050   48.31           81,573.77                   75234
 672    90.00    90.00    8.000   30.50           94,308.50                   76033
 659    80.00    80.00    7.250   51.56          267,369.02                   76262
 614    75.00    75.00    9.250   53.62           49,484.74                   76901
 635    85.00    85.00    7.940   33.51          216,750.00                   93215
 580    75.00    75.00    7.125   51.17          158,074.33                   93230
 625    83.09    83.09    6.850   37.43          289,652.35                   93560
 604    88.07    88.07    8.250    8.57           86,233.59                   78539
 605    66.67    66.67    8.000   50.09           69,858.14                   77573
 598    77.13    77.13    8.500   28.74          115,478.10                   77530
 646    79.67    79.67    7.500   44.96          158,982.02                   77478
 661    71.10    71.10    7.390   41.78           64,342.50                   78410
 500    80.00    80.00    9.890   40.91          327,501.70                   98335
 630    80.00    80.00    6.950   43.92          177,392.95                   97038
 636    80.00    80.00    8.880   37.37          175,882.25                   98499
 703    80.00    80.00    7.200   29.25          171,813.06                   98662
 630    20.00   100.00   10.990   43.92           44,351.95                   97038
 561    80.00    80.00    7.900   39.03          241,384.88                   98375
 694    84.00    84.00    7.640   29.67          125,725.50                   84047
 722    20.00   100.00   11.140   47.93          173,817.78                   94606
 578    90.00    90.00   10.240   49.24          193,413.95                   93702
 614    84.73    84.73    8.190   49.80          614,798.92                   95121
 637    80.00    80.00    7.940   44.19          207,816.92                   93722
 644    80.00    80.00    7.340   48.18          356,427.25                   94561
 593    86.96    86.96    8.000   52.25          179,844.29                   98597
 756    80.00    80.00    7.590   35.95          279,677.57                   95209
 604    20.00   100.00   10.840   40.70           72,319.09                   95843
 689    74.80    74.80    7.090   48.22          237,630.52                   93306
 610    90.00    90.00    8.815   41.32          486,000.00                   95356
 588    85.00    85.00    8.200   48.70          237,805.70                   98445
 628    80.00    80.00    7.040   45.42          482,400.00                   95355
 765    80.00    80.00    7.840   42.91          476,800.00                   95377
 765    20.00   100.00   10.940   42.91          119,069.63                   95377
 519    85.00    85.00    9.565   50.45          275,844.70                   93611
 671    80.00    80.00    7.690   43.65          131,875.18                   93702
 595    90.00    90.00    8.990   42.93          422,726.08                   95205
 637    20.00   100.00   10.640   44.79           69,119.26                   95823
 605    81.25    81.25    8.140   35.09          103,913.61                   83686
 653    80.00    80.00    8.990   48.04          412,000.00                   94533
 585    75.00    75.00    8.053   42.03          206,823.66                   93313
 640    80.00    80.00    8.240   39.05          203,835.37                   93292
 637    80.00    80.00    8.190   49.63          420,905.06                   95363
 642    20.00   100.00   11.840   49.41          111,699.58                   94591
 637    75.00    75.00    6.990   37.74          164,809.79                   93291
 709    80.00    80.00    7.490   48.63          349,849.37                   95632
 607    79.99    79.99    7.990   46.34          525,308.59                   95648
 664    80.00    80.00    6.990   45.80          367,575.77                   95401
 677    60.00    60.00    6.840    0.00          119,693.73                   95319
 673    80.00    80.00    7.365   46.71          382,802.50                   94801
 695    20.00   100.00   10.940   39.60           51,943.13                   95348
 654    80.00    80.00    6.790   44.12          427,478.26                   95605
 696    80.00    80.00    7.190   49.97          459,498.64                   95403
 703    80.00    80.00    6.690   27.00          379,523.74                   94561
 633    80.00    80.00    7.940   47.56          543,521.19                   94541
 671    20.00   100.00   10.440   53.22           58,928.13                   95673
 672    84.06    84.06    6.740   35.93          173,547.17                   93202
 616    80.00    80.00    8.465   36.77          463,649.31                   92801
 614    84.51    84.51    8.253   51.99          299,758.80                   90002
 753    80.00    80.00    9.090   49.47          280,000.00                   91746
 563    80.00    80.00    8.890   53.30          151,898.62                   92311
 634    80.00    80.00    8.215   46.48          126,400.00                   85009
 750    80.00    80.00    7.040   39.37          460,000.00                   90022
 599    87.74    87.74    7.990   32.72          135,882.02                   85301
 689    90.00    90.00    9.240   35.85          584,081.23                   90201
 626    80.00    80.00    9.090   48.68          460,000.00                   90706
 637    77.27    77.27    8.215   54.36           85,000.00                   93263
 661    80.00    80.00    6.990   48.33          264,000.00                   95503
 664    80.00    80.00    7.940   59.92          511,549.35                   92865
 645    80.00    80.00    8.090   40.63          199,831.42                   90805
 680    80.00    80.00    6.890   47.01          384,343.83                   90650
 628    20.00   100.00   11.840   45.63           54,950.61                   89129
 519    61.08    61.08    8.600   45.30          243,861.93                   92307
 700    76.92    76.92    7.490   36.86          499,499.41                   90044
 639    80.00    80.00    8.340   45.77          351,724.07                   91709
 676    80.00    80.00    7.290   46.68          447,525.32                   90037
 621    73.68    73.68    6.690   54.71           69,912.27                   85033
 651    80.00    80.00    7.490   47.50          335,663.62                   92571
 633    85.00    85.00    6.740   31.13          326,398.32                   89120
 663    80.00    80.00    6.990   49.21          303,649.55                   80022
 577    80.00    80.00    9.790   29.44          188,703.77                   89107
 639    20.00   100.00   11.740   46.62           44,958.68                   85301
 700    80.00    80.00    7.940   46.80          191,431.35                   85296
 673    31.75    31.75    7.340   40.64          199,537.44                   90745
 588    90.00    90.00    7.740   54.15          213,101.16                   85323
 622    80.00    80.00    7.990   43.90          220,608.44                   93534
 634    80.00    80.00    7.940   51.53          231,795.78                   92231
 595    80.00    80.00    7.965   31.11          135,881.16                   85345
 666    80.00    80.00    8.190   42.95          290,162.22                   91710
 561    71.75    71.75    8.540   46.95          225,832.91                   93727
 650    80.00    80.00    7.690   49.90          299,716.31                   85023
 684    69.40    69.40    7.000   10.08          394,621.49                   90650
 651    80.00    80.00    8.165   39.76          356,000.00                   92545
 651    20.00   100.00   11.840   39.76           88,920.06                   92545
 549    70.00    70.00    8.990   52.22          160,733.65                   85303
 632    20.00   100.00   11.615   47.06           88,116.77                   90621
 624    80.00    80.00    8.240   42.80          159,691.19                   85302
 664    80.00    80.00    7.815   44.32          272,000.00                   92376
 611    80.00    80.00    8.240   49.84          148,000.00                   89030
 644    80.00    80.00    7.000   46.81          349,533.30                   95368
 583    80.00    80.00    7.750   45.52          459,019.70                   94513
 560    79.88    79.88    8.800   46.51          167,635.09                   85303
 594    90.00    90.00    8.600   50.31          143,741.78                   85335
 657    20.00   100.00   10.500   39.92           40,950.70                   85746
 620    80.00    80.00    7.900   45.46          120,692.46                   85714
 677    89.71    89.71    7.000   49.63          156,611.68                   85713
 588    78.00    78.00    8.340   42.64          186,845.98                   85041
 662    72.50    72.50    7.140   44.67          153,700.00                   85035
 652    80.00    80.00    6.940   38.64          144,000.00                   85706
 579    85.00    85.00    9.090   45.11          242,097.72                   85008
 632    74.79    74.79    7.840   17.22          172,009.00                   85213
 685    75.00    75.00    6.850   30.19          136,152.30                   98366
 608    60.00    60.00    7.590   36.34          116,742.55                   97303
 643    80.00    80.00    7.450   43.78          143,854.17                   97303
 657    80.00    80.00    6.500   43.56          175,767.54                   97128
 580   100.00   100.00    9.990   47.90          394,810.50                   98087
 555    74.39    74.39    7.500   42.62          412,462.81                   97035
 534    63.75    63.75    8.640   41.09          159,091.57                   33313
 569    81.38    81.38    8.390   52.98          215,503.40                   33176
 583    79.60    79.60    7.650   43.60          160,439.41                   33142
 554    91.00    91.00    8.750   26.88           59,047.17                   54950
 672    80.00    80.00    7.765   42.16          480,000.00                   92801
 642    20.00   100.00   11.540   46.18           40,561.04                   85208
 635    80.00    80.00    7.840   40.03          167,648.39                   85015
 635    20.00   100.00   11.840   40.03           41,962.28                   85015
 647    40.30    40.30    6.740   28.43          134,648.65                   92345
 657    80.00    80.00    7.890   40.47          179,627.06                   85303
 657    20.00   100.00   11.540   40.47           44,956.81                   85303
 669    80.00    80.00    7.690   42.77          189,420.69                   85006
 802    20.00   100.00   10.100   43.98           64,889.66                   89147
 578    79.43    79.43    8.000   36.68          416,639.26                   90715
 620    91.50    91.50    8.750   45.83          147,972.27                   62520
 619    90.00    90.00    8.400   54.87           76,441.06                   62040
 616   100.00   100.00    8.750   48.49          129,909.63                   49036
 563    90.00    90.00    8.750   28.20           97,031.01                   60436
 637    80.00    80.00    7.600   46.08           95,789.18                   49548
 596    95.00    95.00    8.750   22.49          109,060.06                   60827
 605    84.35    84.35    8.790   27.14           96,933.35                   49644
 564    80.00    80.00    8.800   44.78           51,910.53                   60633
 569    90.00    90.00    8.750   45.18          161,885.87                   60115
 631    75.00    75.00    8.750   35.07           62,956.20                   48817
 596   100.00   100.00    8.750   42.01          129,773.98                   48135
 552    89.04    89.04    8.750   52.97          166,384.27                   60107
 625    80.00    80.00    8.750   37.86           72,673.42                   62010
 581    85.00    85.00    8.750   26.54           91,736.19                   60426
 664    88.64    88.64    8.750   31.80           97,327.48                   49601
 504    80.00    80.00    8.750   46.09          343,401.91                   60430
 603   100.00   100.00    8.750   49.84          139,902.67                   49509
 622    95.00    95.00    8.750   49.69          270,561.79                   60164
 646    96.90    96.90    8.750   44.63          140,255.74                   61008
 544    80.00    80.00    8.750   46.13          126,180.24                   60620
 569    90.00    90.00    8.750   27.73          103,320.07                   61108
 643    82.00    82.00    7.990   38.94           73,650.17                   48221
 614    73.24    73.24    8.340   49.55          155,704.98                   60623
 595   100.00   100.00    8.750   44.12           79,860.91                   46619
 627    88.57    88.57    9.500   47.07           61,907.78                   44471
 506    78.67    78.67    9.500   47.87          112,332.68                   46356
 618   100.00   100.00    8.750   36.75          123,784.41                   46538
 608    80.00    80.00    8.750   36.37           79,860.91                   46996
 581   100.00   100.00    8.750   43.68          108,810.50                   46217
 534    77.78    77.78    9.500   23.21          118,823.00                   46530
 608    75.00    75.00    8.450   49.18           91,330.79                   75227
 604    79.98    79.98    9.000   40.88          122,172.95                   76247
 577    95.00    95.00   11.250   44.40          119,577.62                   77449
 590    80.00    80.00    8.640   44.72           79,857.71                   75052
 627    79.99    79.99    7.640   15.85          113,342.52                   75485
 585    90.00    90.00    7.740   54.62          122,285.90                   77708
 603    79.99    79.99    8.500   30.77           74,253.86                   79928
 605    85.00    85.00    7.750   48.47           97,541.70                   79423
 642    74.07    74.07    7.500   51.55           99,454.84                   76115
 582    79.99    79.99    8.890   25.49           99,818.11                   75238
 609    80.00    80.00    7.650   31.88          113,353.00                   79382
 565    82.11    82.11    8.750   45.53           83,691.73                   63074
 566    90.00    90.00    8.750   44.20          147,343.38                   55103
 544    85.00    85.00    9.500   28.95           84,873.56                   63601
 599   100.00   100.00    8.750   36.03           96,831.35                   64012
 542    85.00    85.00    9.890   49.42          212,206.45                   01852
 572    88.16    88.16    9.850   47.95          167,268.60                   01475
 645    63.85    63.85    7.590   39.67          188,584.12                   01835
 580    75.84    75.84    8.350   49.95          236,922.00                   02721
 666   100.00   100.00    7.500   46.99          305,314.43                   01540
 576    90.00    90.00    8.750   49.51          211,352.98                   60042
 572    87.71    87.71    8.750   50.44          206,856.11                   60504
 616   100.00   100.00    8.750   50.93          120,915.87                   60636
 569    90.00    90.00    8.750   27.35          148,241.81                   60628
 568    90.00    90.00    8.750   42.23          108,710.65                   61854
 627    80.00    80.00    8.750   38.08           71,874.83                   61265
 644    80.00    80.00    8.600   45.96          113,516.02                   62230
 604    80.00    80.00    8.580   41.69          173,473.13                   60651
 567    62.06    62.06    8.690   49.82          106,674.48                   60619
 526    82.67    82.67    8.750   41.31          247,568.81                   60098
 550    90.00    90.00    9.500   41.27           66,562.96                   61109
 548    85.00    85.00   10.200   45.69          158,028.84                   32244
 562    70.00    70.00    8.590   36.47           94,330.20                   70068
 663    65.25    65.25    6.950   35.07           91,770.20                   70814
 637    83.00    83.00    7.590   42.01           92,755.44                   70611
 581    90.00    90.00    9.990   42.19          115,045.51                   70814
 619    85.00    85.00    8.140   35.81          229,500.00                   34746
 587    65.29    65.29    8.040   51.45           74,937.08                   32725
 513    60.13    60.13    9.990   50.24          111,696.01                   32808
 579    95.00    95.00    8.750   47.48          102,421.63                   38133
 643    80.00    80.00    8.625   49.42          101,418.76                   30528
 583   100.00   100.00   10.890   50.41           89,900.49                   30721
 567    89.52    89.52    9.490   35.57           93,859.88                   30516
 644    80.00    80.00    8.350   43.50           95,818.81                   31408
 635    80.00    80.00    8.750   44.12           69,479.00                   31061
 593    80.00    80.00    8.490   26.75          103,809.27                   30344
 570    75.00    75.00    7.900   46.81          324,303.81                   33025
 602    80.00    80.00    8.050   49.54          399,366.98                   33065
 676    80.00    80.00    8.650   49.11          224,000.00                   33334
 616    90.00    90.00    9.050   48.63          141,240.29                   32962
 549    59.23    59.23    8.500   52.49          153,812.75                   33309
 720    80.00    80.00    7.500   52.92          175,737.94                   33837
 627    85.00    85.00    8.340   45.17          270,809.33                   33441
 533    80.00    80.00    9.750   26.57           67,936.28                   17756
 593    90.00    90.00   10.040   43.09          233,826.62                   33314
 628    80.00    80.00    8.290   50.91          352,000.00                   33183
 633    79.99    79.99    8.140   47.14          135,722.15                   16148
 637    79.98    79.98   10.800   46.30          144,714.02                   32909
 784    90.00    90.00    9.340   27.55           53,944.85                   30058
 784    80.00    80.00    8.350   45.41          316,000.00                   33139
 754    15.00    95.00   10.740   43.55           45,715.33                   34113
 666    20.00   100.00   12.040   24.35           25,785.29                   23224
 745    80.00    80.00    7.800   48.69           95,865.40                   30168
 667    80.00    80.00    7.550   33.02          203,866.56                   53168
 667    20.00   100.00   11.040   33.00           50,963.77                   53168
 641    80.00    80.00    8.140   50.53           99,869.12                   60628
 641    20.00   100.00   12.390   50.53           24,986.82                   60628
 646    80.00    80.00    7.990   49.11          199,730.16                   33064
 515    80.00    80.00    9.900   48.73          139,872.94                   33126
 678    95.00    95.00    8.940   49.56          204,023.22                   34741
 657    90.00    90.00    8.675   40.89          112,368.05                   54494
 640    20.00   100.00   12.090   43.97           26,584.99                   33982
 672    80.00    80.00    7.600   40.09           91,865.73                   30331
 655    80.00    80.00    8.800   51.72          253,310.13                   02908
 749    80.00    80.00    6.240   38.53          198,400.00                   33025
 595    85.00    85.00    9.590   37.15          105,947.02                   27704
 624    80.00    80.00    7.590   46.62          278,219.97                   06002
 746    80.00    80.00    6.740   39.70          228,000.00                   33015
 746    20.00   100.00   10.590   39.70           56,955.37                   33015
 550    65.00    65.00    8.990   45.32          172,710.01                   33319
 526    84.66    84.66    9.340   53.10           88,797.22                   32805
 543    75.00    75.00    9.490   49.88           74,925.78                   27030
 574    52.00    52.00    9.800   16.66           51,951.80                   33825
 564    80.00    80.00   10.100   41.30           71,937.38                   48203
 524    67.65    67.65    8.750   27.09          164,809.44                   21244
 603    80.00    80.00    9.850   39.71           59,145.70                   32206
 543    72.20    72.20    7.500   44.98          132,801.96                   23464
 589    95.00    95.00   10.590   44.49          175,612.40                   48089
 563    85.00    85.00    8.240   31.96           80,646.45                   38358
 556    90.00    90.00   10.250   48.68           76,435.56                   38118
 636    20.00   100.00   12.500   48.81           51,573.44                   60133
 709    20.00   100.00   12.340   49.72           22,987.73                   61109
 738    20.00   100.00   10.190   38.26           40,965.03                   60445
 644    79.99    79.99    8.490   47.55          183,808.34                   60586
 644    19.99    99.98   12.390   47.55           45,925.76                   60586
 648    20.00   100.00   12.800   41.30           85,958.63                   60639
 623    20.00   100.00   10.500   47.90           47,162.32                   60174
 717    79.99    79.99    8.750   38.61          133,345.81                   61065
 668    20.00   100.00   10.990   41.49           30,777.89                   60640
 692    20.00   100.00   11.540   52.00           45,970.71                   60068
 652    80.00    80.00    9.250   48.29          121,473.44                   60411
 591    86.75    86.75    9.490   45.18          261,740.69                   23320
 525    90.00    90.00    9.600   44.07           89,912.97                   72205
 622    19.99    99.97   10.890   29.49           32,376.23                   63043
 518    85.00    85.00    9.600   49.90          135,868.48                   64030
 649    79.97    79.97    7.800   46.60           94,067.93                   75007
 649    19.99    99.96    9.950   46.60           23,528.85                   75007
 582    78.14    78.14    6.950   43.90          167,721.05                   76131
 645    77.07    77.07    8.900   31.50          107,779.19                   75050
 759    80.00    80.00    7.500   48.96          115,827.28                   75074
 623    80.00    80.00    7.900   43.24          117,438.43                   77478
 655    80.00    80.00    9.780   47.26          315,705.83                   07003
 607    80.00    80.00    7.765   37.37           95,864.46                   78414
 501    80.00    80.00   10.640   35.31           71,944.23                   78244
 555    90.00    90.00    9.700   51.40          112,393.48                   77489
 562    90.00    90.00    9.240   48.28           80,915.52                   17701
 641    66.90    66.90    8.015   26.78           96,869.78                   18058
 551    83.64    83.64    9.990   53.60          229,795.21                   18466
 613    15.00    95.00   11.890   41.34           41,975.26                   23601
 620    67.80    67.80    7.490   38.01          119,820.96                   21234
 566    73.00    73.00    7.000   19.74          109,416.32                   99203
 582    63.14    63.14    7.750   51.24          441,726.97                   96817
 623    75.00    75.00    7.240   51.09          143,774.20                   21207
 531    85.00    85.00   10.875   46.47          263,306.02                   22405
 636   100.00   100.00    8.750   48.16          148,827.93                   80910
 592    75.00    75.00    8.040   32.23          131,823.71                   80922
 626    80.00    80.00    8.390   44.68           68,576.72                   75241
 583    58.25    58.25    8.390   26.22           59,663.87                   77066
 577    79.99    79.99    8.850   47.04          182,181.69                   79705
 639    68.97    68.97    7.900   48.37           39,945.05                   75156
 548    79.90    79.90    9.750   27.86           83,816.40                   76133
 561    75.00    75.00   11.100   48.05           72,699.00                   75134
 676    27.17    27.17    6.950    0.00          124,205.54                   91741
 528    75.00    75.00    7.750   39.45          295,830.47                   93534
 595    79.99    79.99    8.650   44.41           79,738.73                   77072
 618    80.00    80.00    7.205   38.90          207,849.96                   98387
 674    80.00    80.00    7.690   43.82          291,816.50                   94801
 716    80.00    80.00    8.215   44.48          304,000.00                   95336
 623    20.00   100.00   10.640   45.71           70,345.47                   92234
 624    80.00    80.00    8.215   44.51          236,494.79                   89121
 656    73.45    73.45    7.640   44.68          143,753.57                   85746
 581   100.00   100.00    8.750   38.38           96,588.32                   62208
 569    81.57    81.57    9.500   22.99          109,192.06                   61073
 587    75.00    75.00   10.400   49.68           62,948.62                   75041
 676    54.93    54.93    8.750   31.75           40,603.06                   65591
 649    84.75    84.75    7.990   41.52          329,558.78                   01752
 645    89.58    89.58    8.330   47.18          214,729.32                   02719
 645    85.00    85.00    7.990   36.08          112,897.48                   70785
 569    66.00    66.00    9.100   52.86          108,783.05                   32962
 809    80.00    80.00    6.500   45.87          363,997.63                   91752
 809    20.00   100.00    9.500   45.87           90,530.05                   91752
 740    80.00    80.00    6.700   46.83          303,200.00                   92376
 740    20.00   100.00   11.000   46.85           75,662.37                   92376
 617    20.00   100.00   11.400   38.18          138,697.66                   92223
 642    80.00    80.00    8.800   43.73          195,662.72                   02919
 690    20.00   100.00   11.400   54.95           48,352.12                   06492
 675    85.00    85.00    7.650   42.25          237,482.55                   20747
 593    67.16    67.16    7.800   45.29          224,793.83                   07203
 636    70.00    70.00    9.990   42.62          349,530.63                   07081
 545    84.12    84.12    9.990   45.85          407,804.25                   10459
 614    80.00    80.00    7.750   45.90          148,403.06                   06405
 596    80.00    80.00    8.350   39.16          344,727.30                   07419
 610    75.00    75.00    6.990   36.69          300,000.00                   32725
 788    80.00    80.00    7.250   42.06          520,000.00                   11429
 788    20.00   100.00   11.500   42.06          129,916.51                   11429
 648    80.00    80.00    9.350   43.24           60,738.03                   14613
 648    20.00   100.00   13.400   43.24           15,193.61                   14613
 580    65.00    65.00   11.000   48.30          162,383.58                   21228
 710    60.00    60.00    6.875    0.00          209,467.69                   11702
 697    20.00   100.00   11.500    0.00           69,932.25                   20774
 541    65.00    65.00   11.350   44.45          220,853.31                   02909
 608    75.00    75.00    8.990   48.91          337,129.15                   10310
 512    65.00    65.00   11.000   41.90          227,337.01                   33015
 698    80.00    80.00    7.750   46.61          347,507.19                   11738
 635    66.13    66.13    7.500   40.00          204,694.77                   07513
 737    90.00    90.00    9.990   35.66          209,962.90                   01886
 518    74.84    74.84    9.990   52.10          231,688.87                   02703
 516    64.89    64.89   10.800   45.97          176,301.03                   21214
 566    83.65    83.65    8.990   45.28          219,636.02                   02886
 585    79.67    79.67    6.990   40.25          238,606.27                   02865
 639    90.00    90.00    7.990   47.71          238,293.08                   08234
 576    80.00    80.00    8.450   41.56          219,593.19                   19014
 639    80.00    80.00    7.550   42.41          240,000.00                   02893
 565    85.00    85.00    8.390    8.95          156,955.63                   15042
 530    43.01    43.01    8.650   47.45          199,645.04                   33186
 591    85.00    85.00   10.290   48.44           86,570.07                   48910
 659    20.00   100.00   12.090   49.42           60,948.17                   34952
 682    20.00   100.00   10.090   46.56           47,936.98                   33033
 586   100.00   100.00   10.740   48.41          178,864.32                   33150
 623    80.00    80.00    9.140   48.22          195,791.26                   33312
 733    90.00    90.00    8.740   47.96          193,276.08                   33178
 655    80.00    80.00    7.490   48.85          217,275.36                   33435
 678    80.00    80.00    7.550   45.20          207,693.39                   32907
 615    80.00    80.00    8.040   25.13           59,879.41                   48228
 632    78.46    78.46    7.240   33.52           91,656.05                   19464
 633    20.01   100.00   13.290   49.42           33,985.36                   16148
 578    75.00    75.00    8.440   48.94          272,663.94                   33012
 680    89.47    89.47    7.590   45.72          152,776.26                   32277
 534    75.00    75.00    8.800   48.04          149,828.55                   33311
 525    80.00    80.00   10.250   30.53           50,757.21                   16117
 718    80.00    80.00    7.500   46.07          163,755.82                   33018
 669    80.00    80.00    7.500   46.22          188,518.88                   33313
 526    51.61    51.61    9.400   53.83          239,757.94                   33431
 726    80.00    80.00    7.950   48.28          293,029.02                   08742
 624    80.00    80.00    8.390   49.99          133,433.85                   33025
 603    90.00    90.00   10.540   50.51          121,403.85                   48204
 668    80.00    80.00    7.450   44.05          247,627.04                   33196
 661    80.00    80.00    7.990   48.32          352,000.00                   33183
 534    84.99    84.99   10.700   45.98          155,680.88                   64058
 640   100.00   100.00    9.790   49.29           83,422.43                   15236
 725    80.00    80.00    8.400   38.60          148,000.00                   33193
 725    20.00   100.00   11.340   38.60           36,937.58                   33193
 725    80.00    80.00    8.550   41.62          239,565.22                   19050
 558    70.68    70.68    8.750   46.90          207,560.02                   21863
 620    84.97    84.97   10.090   48.69           78,531.50                   16508
 514    69.44    69.44    9.550   39.25          124,753.72                   20747
 647   100.00   100.00    9.340   27.87           76,841.47                   30288
 733    20.01   100.00   10.890   49.70           27,957.15                   49735
 580    79.97    79.97    9.790   40.12           46,235.22                   72626
 673    95.00    95.00    9.790   47.75          107,250.27                   33605
 649    20.00   100.00   14.040   47.49           48,364.46                   02907
 631    85.00    85.00    8.190   47.07          241,777.64                   32225
 720    20.00   100.00   10.940   31.45           34,948.72                   32222
 586    89.98    89.98    8.940   48.39          227,996.56                   32909
 543    85.00    85.00   10.000   46.36          195,233.96                   23323
 694    65.56    65.56    6.990   44.54          117,805.62                   33179
 651    85.00    85.00    8.950   48.08          259,250.00                   02886
 635    80.00    80.00    8.800   51.23          287,504.41                   02907
 664    20.00   100.00   10.540   46.03           57,930.85                   33023
 516    62.82    62.82    8.900   51.01          222,624.11                   33025
 547    80.00    80.00    9.700   54.13          359,659.13                   08628
 754    80.00    80.00    7.400   53.86          243,629.37                   34113
 515    80.00    80.00   10.250   45.03          108,661.94                   18603
 740    20.00   100.00   10.740   49.23           52,939.46                   33415
 579    80.00    80.00    8.240   45.98          159,691.19                   33755
 622    95.00    95.00    9.450   42.71          223,123.95                   32808
 675    79.98    79.98    8.390    1.97           79,800.64                   33916
 675    79.98    79.98    8.390    1.97           78,202.62                   33916
 636    20.00   100.00   12.590   33.27           40,979.33                   06052
 623    80.00    80.00    7.440   37.34          378,628.59                   34741
 600    80.00    80.00    7.590   49.41          130,911.29                   06405
 511    75.00    75.00   10.040   41.05          199,984.29                   21224
 646    79.99    79.99    9.200   46.58           98,992.98                   27127
 652    80.00    80.00    7.690   48.14          364,330.84                   06906
 666    80.00    80.00    8.400   24.07          103,071.91                   23224
 667    70.00    70.00    7.100   47.74          220,434.77                   33064
 564    60.15    60.15    9.440   44.65           79,919.99                   48060
 646    79.97    79.97    7.490   31.92          101,550.00                   24522
 604    44.85    44.85    7.200   30.90          147,893.08                   33174
 546    63.00    63.00    9.590   49.98          140,363.84                   33319
 528    79.79    79.79    9.975   39.64          149,866.02                   32818
 640    80.00    80.00    8.790   44.30          106,400.00                   33982
 568    85.00    85.00    9.990   43.14          140,125.12                   46166
 530    75.00    75.00    9.400   56.53          185,812.39                   33311
 692    80.00    80.00    7.250   40.52          231,636.94                   33125
 645    85.00    85.00    9.400   21.29          118,879.97                   70810
 558    89.97    89.97   10.300   47.54           75,287.22                   46721
 565    90.00    90.00   10.600   52.09           80,936.72                   27403
 687    80.00    80.00    7.540   47.12          150,976.66                   32164
 687    20.00   100.00   10.590   47.12           37,770.40                   32164
 602    89.53    89.53    8.950   48.97          153,829.37                   32818
 588    90.00    90.00    8.200   44.58          287,843.77                   33463
 690    80.00    80.00    6.490   49.71          190,400.00                   34986
 579    70.21    70.21    8.040   49.75          329,559.27                   33193
 677    80.00    80.00    8.350   47.63          180,000.00                   27603
 695    80.00    80.00    9.800   34.56          171,142.23                   33154
 635    80.00    80.00    9.500   43.63          177,424.59                   33066
 636    79.99    79.99    9.040   49.55          155,730.46                   23669
 620    85.00    85.00    9.590   49.87          213,992.42                   34743
 642    85.00    85.00    8.500   29.54          141,777.41                   32808
 661    95.00    95.00   10.100   47.85          158,512.01                   33065
 671    80.00    80.00    6.640   29.00          135,638.09                   33936
 616    90.00    90.00    9.540   46.91          218,700.00                   33169
 627    95.00    95.00    9.550   45.29          270,750.00                   33317
 651    59.57    59.57    6.890   45.00          192,675.74                   33068
 602    57.09    57.09    8.100   36.30          144,808.70                   33177
 643    20.00   100.00   11.990   44.93           59,098.60                   34638
 630    20.00   100.00   12.990   45.01           35,966.46                   27703
 634    80.00    80.00    8.250   47.06           69,819.59                   43612
 651    90.00    90.00    8.150   44.83          274,500.00                   20748
 584    90.00    90.00    9.990   49.52          283,119.81                   01453
 627    80.00    80.00    9.750   25.11           55,870.16                   38343
 567    90.00    90.00    9.490   54.13           76,379.09                   37406
 540    80.00    80.00    9.350   49.08           99,098.89                   49423
 780    19.99    99.98   10.590   49.45           42,096.64                   48126
 654    80.00    80.00    7.750   42.23           79,031.21                   48205
 631    85.00    85.00    9.740   47.63           99,356.63                   38128
 752    80.00    80.00    6.890   39.53          110,613.84                   28023
 519    80.00    80.00   10.340   54.23           63,520.84                   48219
 628    90.00    90.00   10.640   41.84           57,555.38                   38127
 527    67.87    67.87    8.940   45.66          112,874.53                   37388
 613    20.00   100.00   11.590   46.69           37,064.78                   33625
 710    20.00   100.00   10.940   44.27           49,945.30                   23456
 668    80.00    80.00    7.350   47.33          365,600.00                   22193
 608    79.98    79.98    8.240   27.23           99,307.95                   33709
 650    90.00    90.00    8.700   45.37           77,309.69                   48213
 650    90.00    90.00    8.500   46.32           74,609.17                   48212
 684    80.00    80.00    7.290   49.30          106,234.82                   37210
 683    78.50    78.50    6.150   24.30          314,000.00                   28804
 650    79.29    79.29    7.000   46.28          336,445.91                   32708
 591    95.00    95.00   10.240   50.00          128,141.74                   37876
 629    80.00    80.00    8.740   49.07          144,732.95                   33905
 723    80.00    80.00    8.700   49.57          115,945.64                   33604
 621    20.00   100.00   12.990   44.35           52,375.85                   34609
 564    80.00    80.00   10.100   43.79           95,916.51                   49509
 647    79.97    79.97    8.990   42.78           60,633.30                   48910
 670    80.00    80.00    6.490   27.71          351,260.80                   20601
 573    90.00    90.00    9.550   21.38          130,372.46                   18055
 665    80.00    80.00    6.890   44.81          160,000.00                   33837
 601    90.00    90.00   10.050   48.48          161,857.59                   27265
 528    80.00    80.00    9.950   48.31          190,229.02                   20747
 733   100.00   100.00    9.300   42.25          330,000.00                   20774
 697    79.99    79.99    8.600   51.54          172,700.00                   32763
 542    89.97    89.97   11.100   44.20          103,527.39                   30294
 682    79.99    79.99    7.140   37.80          169,228.91                   33781
 640    83.58    83.58    9.500   47.73          199,552.71                   60628
 666    87.00    87.00    9.690   48.61          237,160.62                   60545
 607    90.00    90.00    9.990   48.10          170,770.69                   60628
 709    80.00    80.00    9.560   49.55           91,910.27                   61109
 617    20.00   100.00   12.400   44.76           50,747.68                   60013
 601    94.51    94.51    9.600   51.19          182,400.00                   60120
 646    57.95    57.95    6.890   47.20          113,000.00                   60636
 568    65.00    65.00    7.890   47.30          168,767.33                   60201
 666    80.00    80.00    8.500   48.72          150,217.12                   60153
 709   100.00   100.00    8.250   48.03          246,699.88                   60076
 738    80.00    80.00    6.990   38.95          164,000.00                   60445
 549    70.00    70.00    8.640   49.52          223,893.16                   60073
 669    90.00    90.00    7.990   49.39          194,231.33                   60074
 623    80.00    80.00    8.740   46.60          156,526.81                   60445
 696    80.00    80.00    8.900   49.42          307,655.17                   60623
 632    20.00   100.00   13.390   44.16           31,386.79                   60505
 630    79.99    79.99    9.140   45.31          131,759.52                   60505
 649    80.00    80.00    6.890   44.25          131,778.23                   53172
 503    75.00    75.00   10.490   48.37          131,840.91                   54403
 629    80.00    80.00    7.900   54.42          399,350.57                   60639
 638    20.00   100.00   12.750   46.34           45,977.62                   60201
 532    85.00    85.00    9.490   42.94          129,072.13                   53157
 615    49.50    49.50    8.200   46.99           99,870.73                   60629
 569    90.00    90.00    9.740   44.65          220,188.20                   60586
 586    80.00    80.00    7.990   49.03          267,845.51                   60156
 668    80.00    80.00    7.990   41.50          123,033.78                   60640
 692    80.00    80.00    9.250   48.79          184,000.00                   60068
 558    90.00    90.00    9.950   33.36          148,452.13                   60031
 644    80.00    80.00    8.990   47.34          339,626.40                   60084
 533    67.14    67.14    8.850   45.86          236,731.91                   60546
 559    70.97    70.97    7.250   41.34          219,655.72                   60639
 629    20.00   100.00   12.250   47.99           71,960.82                   60016
 657    79.83    79.83    8.190   36.98          189,753.86                   18301
 647    80.00    80.00    9.900   43.78          131,080.93                   18344
 663    45.91    45.91    7.975   39.80          100,794.31                   02860
 677    80.00    80.00    7.000   43.87          504,000.00                   02835
 575    74.21    74.21    8.340   40.10          186,765.05                   23320
 604    91.70    91.70    7.990   29.16          150,889.03                   44035
 614    95.00    95.00   10.990   20.50          379,354.47                   32950
 674    20.00   100.00   11.750   41.95           31,551.28                   15228
 599    80.00    80.00    8.400   49.14          255,197.34                   08527
 646    20.00   100.00   12.000   39.35           64,405.84                   92234
 624    80.00    80.00    9.940   48.58          142,207.00                   33617
 643    20.00   100.00   12.290   47.33           99,918.70                   92407
 650    80.00    80.00    9.350   48.52          205,400.43                   23453
 559    90.00    90.00   11.690   34.47          157,803.37                   77494
 560    80.00    80.00    9.340   50.59          227,649.31                   33909
 569    41.50    41.50    9.100   28.24           60,901.34                   32159
 614    43.42    43.42    7.775   26.21          164,847.70                   95678
 547    80.00    80.00   10.450   43.16          251,693.66                   63385
 543    60.00    60.00   10.650   32.51           68,919.66                   66432
 646    84.98    84.98    8.450   38.28          132,733.50                   64155
 569    85.00    85.00   10.450   28.95          191,095.69                   71913
 507    80.00    80.00   10.340   46.29           79,900.43                   76043
 759    20.00   100.00   10.590   47.05           28,977.29                   75074
 649    80.00    80.00    9.140   27.91           71,124.17                   63120
 606   100.00   100.00   10.390   35.64          106,912.55                   77346
 680    95.00    95.00    8.840   41.80          108,177.23                   64131
 602    79.98    79.98    8.200   42.34           99,770.84                   76123
 555    75.00    75.00    8.590   38.14          192,519.94                   20744
 582    90.00    90.00   10.350   40.86          166,362.74                   08110
 581    79.90    79.90    8.400   32.64          106,865.98                   77449
 590    75.00    75.00    8.140   46.43          105,237.10                   78332
 680    90.00    90.00    7.090   52.72          156,347.04                   18657
 578    68.20    68.20    8.350   48.48          207,739.20                   19116
 603    95.00    95.00    7.875   52.67          237,358.46                   95820
 568    85.00    85.00   10.990   41.60           84,908.05                   23222
 586    75.00    75.00    8.540   48.41          120,917.46                   17112
 554    85.00    85.00    9.140   47.50          127,364.21                   17821
 517    75.00    75.00    9.190   42.85          119,873.52                   34655
 619    46.33    46.33    7.500   32.21          119,731.15                   21122
 611    85.00    85.00    9.640   44.95          131,623.66                   23453
 635    80.00    80.00    9.780   46.88          108,698.71                   44907
 588    95.00    95.00    8.750   51.05          142,400.95                   80817
 509    80.00    80.00    9.600   45.40           87,871.84                   77067
 596    78.39    78.39    9.025   38.95           68,087.98                   75208
 552    80.00    80.00    8.690   15.19          117,462.50                   78249
 571    65.00    65.00    8.750   19.06           86,299.70                   77021
 649    74.91    74.91    7.500   39.37           82,114.15                   77074
 613    73.64    73.64    7.250   30.49           94,851.33                   78028
 636    80.00    80.00    7.475   40.59           86,499.20                   99350
 686    20.00   100.00   10.940   30.82           51,343.77                   93637
 621    34.95    34.95    8.765   40.47          165,808.89                   95401
 621    20.00   100.00   11.740   42.74           62,942.14                   95215
 637    20.00   100.00   11.740   48.28           51,952.26                   93722
 648    80.00    80.00    8.240   42.44          191,097.48                   93291
 612    70.00    70.00    7.615   34.01          474,957.81                   94303
 672    80.00    80.00    7.165   46.40          420,000.00                   94559
 633    20.00   100.00   11.740   49.64           58,945.83                   93727
 631    80.00    80.00    7.965   42.33          300,000.00                   95823
 581    75.00    75.00    7.840   36.74          183,365.45                   93230
 664    20.00   100.00   11.540   47.83           91,865.14                   95401
 626    20.00   100.00   11.740   38.15           82,923.80                   94590
 601    80.00    80.00    7.740   36.38          271,746.43                   95834
 577    75.00    75.00   10.265   47.93          236,051.66                   95207
 751    47.62    47.62    7.140   31.98          199,680.13                   94589
 765    80.00    80.00    7.590   49.21          438,116.51                   94544
 645    20.02   100.00   11.540   46.47           51,650.39                   93505
 655    80.00    80.00    7.190   38.23          371,730.52                   94534
 690    80.00    80.00    7.540   30.59          164,691.89                   93654
 690    20.00   100.00   11.540   30.59           41,173.77                   93654
 658    20.00   100.00   11.290   44.71           38,973.77                   93635
 665    79.99    79.99    7.540   43.60          246,856.11                   95823
 537    75.00    75.00    9.490   40.60          256,246.14                   95322
 635    80.00    80.00    7.690   53.25          315,801.41                   94533
 597    89.98    89.98   10.390   37.13          213,125.65                   95820
 663    75.93    75.93    8.465   35.70          499,748.96                   95492
 663    80.00    80.00    7.025   39.72          397,600.00                   92567
 654    20.00   100.00   11.490   51.11           64,915.54                   92582
 690    20.00   100.00    9.890   39.65           41,456.18                   85019
 668    80.00    80.00    7.200   41.78          308,800.00                   92301
 648    80.00    80.00    7.840   45.57          201,355.70                   85323
 620    20.00   100.00   11.740   43.20           66,917.57                   91913
 642    20.00   100.00   10.650   52.99           55,735.04                   92308
 614    80.00    80.00    7.500   22.04          179,820.29                   93274
 680    85.00    85.00    7.250   44.70          356,999.88                   92223
 600    46.05    46.05    6.950   40.04          174,562.87                   93551
 620    20.00   100.00    9.940   45.79           58,320.86                   92509
 651    20.00   100.00   11.540   40.17           40,960.66                   93292
 561    85.00    85.00    9.590   54.59          509,505.75                   91350
 583    76.92    76.92    7.865   49.27          399,446.53                   92509
 620    20.00   100.00   11.840   46.95           43,161.19                   92275
 683    80.00    80.00    6.990   43.14          416,000.00                   92111
 625    79.99    79.99    8.590   47.91          434,350.00                   90621
 698    20.00   100.00   10.940   41.03           61,932.19                   92346
 657    20.00   100.00   10.440   47.79           68,316.66                   92335
 541    78.65    78.65    9.815   47.30          349,359.21                   90011
 647    20.00   100.00   11.540   26.93           35,947.24                   92240
 628    20.00   100.00   11.740   47.35           74,731.30                   92376
 772    20.00   100.00   10.940   41.83           97,892.81                   92057
 659    80.00    80.00    8.115   43.09          205,600.00                   92345
 645    20.00   100.00   11.540   41.27           49,952.03                   90805
 683    80.00    80.00    7.865   43.89          256,000.00                   91792
 683    20.00   100.00   10.940   43.89           63,953.54                   91792
 651    20.00   100.00   11.540   45.01           89,913.64                   92703
 642    20.00   100.00   10.990   39.26           46,948.62                   92344
 628    95.00    95.00   10.090   50.09          434,720.78                   91732
 668    80.00    80.00    7.540   41.96          239,043.10                   92395
 624    20.00   100.00   11.740   39.01           44,872.65                   93230
 561    72.91    72.91    8.440   49.29          287,854.33                   93552
 672    70.00    70.00    6.690   53.06          210,000.00                   85016
 648    80.00    80.00    8.625   45.03          392,000.00                   92126
 612    74.00    74.00    8.940   54.60          384,372.75                   92114
 664    20.00   100.00   11.540   44.32           67,934.76                   92376
 633    79.37    79.37    7.690   37.05          499,685.79                   92683
 676    20.00   100.00   11.040   44.31           66,152.98                   92571
 610    73.47    73.47    7.240   17.07          143,774.20                   85040
 605    90.00    90.00    9.065   31.77          228,600.00                   85338
 627    79.97    79.97    8.590   44.70          122,290.77                   85018
 627    80.00    80.00    7.590   46.54          431,368.27                   90061
 627    20.00   100.00   11.740   46.54          107,934.22                   90061
 646    20.00   100.00   11.840   38.47          101,939.22                   95624
 657    80.00    80.00    8.115   42.73          256,800.00                   92262
 669    80.00    80.00    7.740   46.37          303,811.67                   80906
 636    66.04    66.04    7.240   32.88          256,942.41                   85310
 558    80.00    80.00   10.850   35.73          140,695.78                   85351
 501    73.64    73.64    8.690   44.77          167,604.46                   85201
 699    79.00    79.00    6.500   37.69          592,500.00                   85045
 541    79.97    79.97    8.740   28.35          158,166.75                   85303
 692    60.75    60.75    6.940   47.35          112,387.00                   85303
 644    80.00    80.00    6.700   43.54          232,800.00                   98092
 568    62.73    62.73    8.340   44.36          123,965.13                   33168
 591    58.00    58.00    7.490   40.11          124,506.97                   34952
 666    80.08    80.08    7.265   30.60          345,000.00                   34108
 634    77.58    77.58    8.750   47.27          127,911.01                   56359
 582    79.03    79.03    8.750   48.08          130,249.40                   54311
 634    80.00    80.00    7.190   51.77          280,000.00                   92563
 600    80.00    80.00    9.665   41.23          191,863.97                   89031
 591    80.00    80.00    9.990   42.55          174,965.04                   97233
 655    20.00   100.00   11.540   39.06           36,964.49                   85042
 649    20.00   100.00   11.540   34.17           63,938.59                   91786
 570    75.00    75.00    8.115   29.13          322,610.05                   92346
 624    20.00   100.00   11.740   41.83           61,942.42                   92882
 683    80.00    80.00    7.865   42.92          399,900.00                   92883
 569    66.76    66.76    8.390   37.95          123,346.41                   85035
 666    80.00    80.00    7.140   45.33          164,800.00                   89030
 591    78.00    78.00    7.250   20.70          179,400.00                   89101
 678    81.30    81.30    7.990   21.36          700,000.00                   90018
 692    80.00    80.00    7.600   22.40           99,888.94                   61273
 532    85.00    85.00    8.750   41.38           72,124.39                   62024
 551    25.42    25.42    8.900   43.99           74,916.03                   48444
 621    97.00    97.00    8.750   46.29          130,798.78                   48872
 553    90.00    90.00    9.500   39.36          188,813.34                   60617
 646    70.53    70.53    8.390   23.52           66,916.67                   49080
 536    85.00    85.00    9.500   51.47           75,575.28                   46703
 633    83.53    83.53    8.750   43.03           70,918.00                   75964
 610    79.91    79.91    9.000   47.69           87,433.68                   75089
 564    89.39    89.39    9.000   53.39          147,404.76                   55336
 564    75.00    75.00    8.890   21.39           91,397.35                   01109
 572    67.41    67.41    8.750   35.87          150,737.46                   60619
 570    79.90    79.90    9.490   23.73           83,774.96                   60411
 573    80.00    80.00    8.750   49.76          303,648.92                   60068
 521    80.00    80.00    9.500   45.72          165,436.46                   60652
 590    95.00    95.00   10.350   33.83          121,448.97                   32244
 736    90.00    90.00    7.875    0.00           85,262.33                   32206
 587    85.00    85.00    9.250   42.41          219,210.88                   70392
 686    98.93    98.93    7.540   42.49          184,588.82                   71129
 604    90.00    90.00    8.540   41.47          256,190.67                   70422
 601    70.30    70.30    9.090   39.98          148,180.35                   32817
 554    75.00    75.00    8.690   54.87          198,656.59                   32909
 518    70.00    70.00    8.490   53.80          101,313.83                   30032
 642    80.00    80.00    7.600   51.02          139,692.56                   30122
 560    90.00    90.00    9.990   52.90          108,753.96                   30507
 578    87.84    87.84    9.900   41.79          109,649.91                   30297
 614    90.00    90.00   10.540   49.84          289,570.66                   31601
 641    80.00    80.00    7.800   47.76          351,672.20                   92530
 632    95.00    95.00    9.045   49.92          226,583.80                   34472
 620    79.72    79.72    8.300   43.36          451,641.53                   92880
 559    85.00    85.00    9.650   48.50          135,804.00                   33012
 652    80.00    80.00    7.000   45.51          508,000.00                   89014
 668    20.00   100.00   11.525   26.49           35,565.74                   32808
 638    75.00    75.00    6.840   46.34          220,984.03                   96720
 533    69.49    69.49    8.990   35.01          204,774.74                   02905
 630    20.00   100.00   13.500   40.70           29,188.01                   02904
 686    80.00    80.00    7.650   40.58          219,521.67                   33056
 686    20.00   100.00   11.900   40.58           54,951.24                   33056
 654    20.00   100.00   11.900   42.52           64,942.38                   02859
 715    80.00    80.00    8.500   28.53          257,055.06                   11713
 651    80.00    80.00    7.450   48.63          367,752.57                   06902
 605    84.52    84.52    7.990   29.69          261,848.97                   02740
 576    73.96    73.96    9.350   41.21          195,924.28                   02860
 538    70.21    70.21    9.350   33.11          234,260.98                   07104
 649    80.00    80.00    6.990   49.48          300,000.00                   11950
 649    20.00   100.00   11.500   49.48           74,951.83                   11950
 584    74.17    74.17    7.750   34.26          444,725.11                   11225
 645    26.81    26.81    7.190   43.87          121,709.31                   11233
 660    85.00    85.00    6.500   46.03          229,083.93                   85212
 640    20.00   100.00   12.900   48.14           86,938.29                   07524
 613    75.00    75.00    8.990   54.53          367,096.19                   33647
 639    95.00    95.00    8.625   45.72          322,845.27                   85323
 598    39.57    39.57   11.850   34.16          138,417.65                   10701
 613    80.00    80.00    6.875   24.64          404,117.88                   02818
 613    20.00   100.00   11.250   24.64          101,131.34                   02818
 580    80.00    80.00    7.990   50.19          239,861.64                   06776
 665    74.69    74.69    6.875   42.95          179,696.69                   85747
 535    80.00    80.00    8.250   41.43          239,692.87                   34743
 614    20.00   100.00   12.100   45.90           37,148.48                   06405
 611    89.02    89.02    7.625   43.73          227,000.00                   02889
 555    85.00    85.00    8.592   48.18          348,246.22                   89449
 532    70.00    70.00    9.990   32.67          377,493.06                   85641
 637    80.00    80.00    7.250   43.01          219,920.00                   92325
 637    20.00   100.00   11.750   43.01           54,929.64                   92325
 655    95.00    95.00    8.190   43.36          284,067.49                   20653
 630    19.99    99.98   12.990   48.84           48,466.29                   46614
 655    80.00    80.00    8.800   46.57          146,946.71                   30044
 717    20.00   100.00   10.015   38.52           59,892.83                   33150
 679    20.00   100.00   10.500   59.24          107,781.61                   91792
 720    80.00    80.00    6.875   58.54          195,608.88                   92342
 720    20.00   100.00   10.100   58.54           48,892.09                   92342
 555    85.00    85.00   10.625   31.49           48,412.34                   24017
 520    75.00    75.00    8.875   52.04          134,771.27                   19036
 616    81.19    81.19    8.850   47.54          314,787.38                   22192
 625    80.00    80.00    8.625   49.52          467,661.93                   91737
 675    64.99    64.99    7.300   48.49          354,391.64                   96762
 523    66.00    66.00   11.650   44.47          265,155.13                   20601
 626    90.00    90.00    7.850   48.86          223,066.02                   21227
 663    69.31    69.31    8.600   43.05          349,583.10                   94702
 627    89.97    89.97    8.570   44.81          157,439.00                   32763
 765    80.00    80.00    7.990   41.31           89,958.39                   48239
 681    80.00    80.00    7.540   47.18          172,145.36                   34953
 645    80.00    80.00    7.740   46.22          195,721.89                   85029
 662    80.00    80.00    8.490   45.27          177,901.22                   02908
 742    80.00    80.00    8.490   48.62          269,465.63                   60632
 749    80.00    80.00    7.590   47.01          197,472.22                   93702
 677    72.10    72.10    7.940   51.45          291,829.23                   89110
 636    80.00    80.00    8.340   36.20          163,914.58                   92311
 663    80.00    80.00    7.500   29.38           98,652.90                   27028
 726    80.00    80.00    8.200   30.69          138,221.08                   30317
 661    80.00    80.00    9.250   47.84          207,783.52                   60617
 634    80.00    80.00    9.100   41.55          159,828.16                   34759
 620    80.00    80.00    8.800   41.82          119,862.84                   60505
 658    80.00    80.00    8.400   44.63          143,821.28                   32909
 638    80.00    80.00    8.100   49.73          291,614.74                   33594
 672    80.00    80.00    8.025   45.25          123,929.24                   06120
 704    80.00    80.00    8.300   46.48          215,886.19                   33064
 734    80.00    80.00    8.990   45.99          131,943.23                   60073
 672    80.00    80.00    8.290   49.22          131,930.24                   85220
 634    80.00    80.00    9.300   43.52          259,698.11                   60140
 629    80.00    80.00    8.990   49.49          175,374.54                   33971
 688    20.00   100.00   11.900   46.26           33,170.56                   77471
 704    20.00   100.00   12.240   46.48           53,970.55                   33064
 672    20.00   100.00   11.540   49.22           32,979.00                   85220
 640    20.00   100.00   13.990   30.57           40,385.17                   01013
 658    20.00   100.00   12.490   44.63           35,981.44                   32909
 637    80.00    80.00    8.615   45.22          224,000.00                   95351
 735    80.00    80.00    7.590   47.48          272,000.00                   90059
 643    80.00    80.00    9.315   44.25          136,000.00                   85204
 601    20.00   100.00   11.900   37.77           22,486.76                   75904
 617    80.00    80.00    8.915   47.89          367,200.00                   95835
 634    80.00    80.00    7.940   16.68          327,552.98                   33025
 640    79.99    79.99    8.540   32.22          113,363.12                   33319
 663    80.00    80.00    7.275   31.53          241,223.78                   92392
 688    80.00    80.00    7.690   36.60           94,264.70                   77080
 729    79.99    79.99    7.290   37.73          194,946.87                   76571
 633    80.00    80.00    7.740   40.32          118,631.42                   63104
 743    80.00    80.00    7.700   40.89          131,811.18                   33610
 630    80.00    80.00    9.600   39.56           79,922.63                   29209
 632    80.00    80.00    8.150   41.70          256,065.13                   01905
 638    80.00    80.00    9.240   41.02          102,293.19                   46410
 697    80.00    80.00    7.990   48.12          144,604.65                   60505
 621    80.00    80.00    9.100   46.55           76,717.53                   77502
 625    80.00    80.00    9.700   50.05          187,731.92                   06610
 605    80.00    80.00    7.250   50.60          230,039.45                   60525
 686    80.00    80.00    8.190   47.55          329,971.98                   92505
 784    79.99    79.99    7.740   48.14          187,633.37                   85033
 640    79.98    79.98    7.790   48.43          202,714.83                   60609
 620    80.00    80.00    8.890   48.50          259,708.32                   32746
 626    80.00    80.00    8.840   48.78          223,617.70                   30310
 624    80.00    80.00    8.950   49.23          186,193.46                   19703
 685    79.97    79.97    8.640   48.58           76,559.46                   77449
 674    79.99    79.99    7.740   47.81          134,508.86                   77379
 631    80.00    80.00    8.890   48.92          167,811.52                   60534
 636    79.97    79.97    7.890   44.31          112,095.46                   27614
 646    80.00    80.00    8.700   49.53          131,845.98                   64152
 629    80.00    80.00    9.390   50.14          210,187.33                   33993
 698    80.00    80.00    7.340   53.79          147,772.50                   85051
 628    80.00    80.00    7.840   43.20          238,867.34                   95204
 622    80.00    80.00    7.840   45.57          201,319.63                   85041
 666    80.00    80.00    7.840   46.40          230,079.58                   92376
 645    80.00    80.00    8.140   48.78          140,615.74                   85031
 632    80.00    80.00    8.190   45.73          455,409.27                   90262
 642    80.00    80.00    6.920   50.69          225,622.53                   60461
 642    80.00    80.00    6.940   37.39          123,793.71                   85711
 658    80.00    80.00    8.050   31.38          161,600.00                   93307
 745    80.00    80.00    7.250   34.79          352,000.00                   21211
 709    80.00    80.00    7.650   40.74          204,000.00                   33033
 669    80.00    80.00    7.390   41.83          280,000.00                   60617
 688    80.00    80.00    7.350   35.32          188,000.00                   21921
 725    79.99    79.99    7.300   43.35          239,900.00                   21206
 695    80.00    80.00    8.465   43.60          133,600.00                   85220
 666    80.00    80.00    7.265   44.01          212,800.00                   95641
 698    80.00    80.00    9.250   44.41          176,000.00                   60107
 618    80.00    80.00    7.250   45.62          239,200.00                   92399
 661    80.00    80.00    8.200   48.22          260,000.00                   22193
 653    80.00    80.00    7.500   48.96          213,600.00                   60171
 770    80.00    80.00    8.390   50.20          173,600.00                   77044
 673    71.43    71.43    9.190   47.56          500,000.00                   91104
 775    80.00    80.00    7.865   44.49          384,000.00                   94541
 619    80.00    80.00    7.000   37.83          247,200.00                   85251
 628    80.00    80.00    8.250   36.80          210,400.00                   86314
 639    80.00    80.00    7.690   37.46          269,600.00                   93535
 612    80.00    80.00    7.240   41.32          488,800.00                   91360
 601    80.00    80.00    6.990   43.90          236,000.00                   92395
 651    76.92    76.92    8.215   45.14          500,000.00                   92069
 620    80.00    80.00    8.840   46.68          343,200.00                   91335
 642    80.00    80.00    7.340   45.83          336,000.00                   95828
 652    80.00    80.00    8.115   48.62          226,400.00                   89156
 621    80.00    80.00    8.250   48.87          364,000.00                   92377
 700    80.00    80.00    7.600   49.58          656,000.00                   89117
 664    80.00    80.00    6.990   30.07          131,898.85                   06790
 754    80.00    80.00    8.540   33.95          133,934.17                   93274
 665    88.89    88.89    7.990   42.30          199,884.71                   60914
 654    80.00    80.00    8.740   38.92          142,733.86                   34655
 648    80.00    80.00    7.750   40.75          156,703.14                   32218
 638    80.00    80.00    7.990   40.81          135,921.61                   75075
 761    80.00    80.00    6.740   43.00          327,730.48                   94533
 665    80.00    80.00    7.940   41.47          187,090.52                   85353
 698    79.99    79.99    7.600   44.06          122,221.14                   32137
 725    80.00    80.00    7.250   45.19          155,888.89                   01527
 631    80.00    80.00    8.340   38.38          199,895.84                   89106
 680    80.00    80.00    7.440   44.62          215,854.23                   95358
 626    80.00    80.00    6.990   40.84          162,275.54                   33625
 643    80.00    80.00    8.890   45.55          307,863.55                   60706
 652    80.00    80.00    6.490   47.50          251,528.32                   33909
 737    80.00    80.00    8.950   42.84          205,510.51                   34983
 699    80.00    80.00    7.590   45.55          327,787.89                   94533
 644    80.00    80.00    7.940   47.78          174,298.00                   33313
 671    80.00    80.00    7.500   46.73          319,787.68                   60103
 669    80.00    80.00    7.690   46.35          319,798.89                   91767
 660    79.99    79.99    8.665   46.31          436,943.03                   92562
 723    80.00    80.00    7.040   46.82          211,839.80                   92411
 630    80.00    80.00    7.800   46.70          223,863.60                   60638
 640    80.00    80.00    8.740   54.97          280,070.23                   60651
 687    80.00    80.00    7.840   48.20          181,490.69                   85051
 656    80.00    80.00    7.250   48.86          189,464.95                   98031
 681    80.00    80.00    7.390   46.56          587,597.48                   94541
 662    80.00    80.00    7.990   49.25          227,868.56                   98001
 629    80.00    80.00    8.990   49.81          159,896.38                   60073
 729    80.00    80.00    6.950   48.96          322,150.15                   91764
 610    80.00    80.00    7.100   49.33          199,851.39                   20601
 716    80.00    80.00    7.440   49.63          171,883.92                   85051
 790    80.00    80.00    7.190   49.20          223,837.72                   85307
 661    80.00    80.00    8.565   51.60          295,855.67                   95123
 629    77.88    77.88    7.790   12.20           87,946.26                   81004
 676    80.00    80.00    7.690   20.95          299,811.48                   92503
 652    80.00    80.00    7.121   31.38          215,840.45                   92240
 640    80.00    80.00    8.190   35.06          447,756.27                   94541
 595    80.00    80.00    7.940   45.31          284,633.42                   89032
 624    80.00    80.00    7.940   40.99          290,230.16                   95632
 641    80.00    80.00    7.840   43.73          292,623.75                   92553
 634    80.00    80.00    7.890   44.27          299,822.00                   95694
 642    79.99    79.99    7.090   45.12          313,716.07                   95835
 658    80.00    80.00    6.790   47.09          436,446.04                   92056
 608    80.00    80.00    7.740   46.20          179,888.48                   85015
 626    80.00    80.00    7.190   46.11          422,893.43                   90621
 645    80.00    80.00    7.990   46.45          411,762.50                   94531
 635    80.00    80.00    8.590   46.86          384,613.75                   95632
 626    80.00    80.00    7.690   51.27          431,728.51                   91768
 650    80.00    80.00    8.040   51.15          243,861.36                   91765
 653    80.00    80.00    6.940   48.73          595,536.84                   95002
 621    80.00    80.00    7.990   50.82          399,769.40                   90042
 624    76.92    76.92    7.840   46.66          499,699.03                   91752
 637    80.00    80.00    7.140   48.67          194,257.18                   95824
 624    80.00    80.00    7.940   50.98          203,880.69                   89032
 641    80.00    80.00    8.240   48.30          254,263.59                   92504
 663    80.00    80.00    7.740   33.38          171,755.94                   34608
 630    80.00    80.00    9.190   41.03          222,165.59                   60085
 677    80.00    80.00    8.275   41.33          121,445.17                   30047
 653    80.00    80.00    7.900   48.55          211,708.72                   02861
 661    80.00    80.00    8.340   48.95          178,175.86                   34744
 605    80.00    80.00    8.380   51.13          239,700.92                   18052
 708    80.00    80.00    7.500   49.45          134,199.90                   33709
 645    79.99    79.99    6.840   38.38          278,300.00                   02893
 679    80.00    80.00    7.750   38.55          128,000.00                   48313
 662    80.00    80.00    7.350   41.95          180,000.00                   21207
 657    79.99    79.99    8.640   42.34          188,700.00                   30341
 774    79.99    79.99    7.450   43.23          211,900.00                   33909
 677    80.00    80.00    7.350   44.00          252,000.00                   19943
 700    80.00    80.00    7.465   45.05          304,000.00                   95828
 697    80.00    80.00    8.150   50.26          160,000.00                   60073
 653    80.00    80.00    7.865   42.42          440,000.00                   92154
 637    80.00    80.00    8.515   47.43          220,000.00                   92240
 602    68.06    68.06    8.650   26.62          210,899.66                   60637
 623    80.00    80.00    7.440   40.61          174,282.30                   48076
 631    80.00    80.00    8.840   44.43          183,917.27                   30135
 638    80.00    80.00    7.100   47.11          355,735.49                   02169
 606    80.00    80.00    7.590   47.10          184,680.50                   60430
 649    80.00    80.00    6.640   52.58          231,804.01                   33409
 642    80.00    80.00    8.290   50.30          223,837.78                   33023
 667    79.98    79.98    7.940   52.03          199,833.06                   89149
 631    80.00    80.00    8.340   42.17          275,056.68                   92234
 613    80.00    80.00    7.575   48.68          167,890.90                   98408
 706    14.92    94.92    9.000   20.92           39,356.80                   75070
 688    20.00   100.00    9.950   36.60           23,578.80                   77080
 500    20.00   100.00    9.950   36.08           30,558.61                   76018
 611    20.00   100.00   10.000   41.48           49,156.28                   98373
 642    20.00    99.99    9.950   42.24           29,909.49                   77073
 687    19.98    99.95    9.950   42.93           21,102.67                   77041
 693    20.00   100.00   10.840   41.66           51,961.43                   60611
 682    19.98    99.97    9.950   44.75           23,667.94                   77085
 712    20.00   100.00   10.940   48.97           23,565.43                   19018
 643    20.00   100.00    9.950   48.95           27,175.57                   75116
 685    19.98    99.95    9.950   48.58           19,132.80                   77449
 674    19.95    99.94    9.950   44.95           33,569.84                   77379
 708    20.00   100.00   10.740   49.82           33,574.53                   33709
 652    20.00   100.00   11.850   48.62           56,566.34                   89156
 611    20.00   100.00   11.690   52.14           49,905.76                   89115
 627    67.43    67.43    7.490   35.97          206,535.31                   90220
 651    90.00    90.00    9.290   54.87          305,818.75                   19934
 627    90.00    90.00    8.840   41.33          213,058.21                   60402
 659    85.00    85.00   10.090   49.12           84,925.91                   60426
 635    85.00    85.00    7.590   47.53          276,071.36                   21701
 646    74.80    74.80    6.990   51.98          186,856.69                   84720
 588   100.00   100.00   11.440   43.29           90,940.79                   28677
 592    85.00    85.00    9.550   43.03          203,888.20                   60123
 595    60.81    60.81    9.400   29.84           89,909.23                   30233
 597    85.00    85.00    9.590   33.07          110,389.29                   28806
 591    69.50    69.50    7.490   34.36          179,731.46                   15241
 588   100.00   100.00   10.990   33.99          102,426.40                   38141
 580    85.00    85.00    9.240   46.57          148,594.85                   23462
 586    80.00    80.00    8.740   44.69           91,893.53                   48224
 576    80.00    80.00    8.640   50.17          268,482.44                   33912
 585    95.00    95.00   10.350   50.55           66,540.11                   78593
 584    95.00    95.00    9.940   54.92          104,358.37                   63019
 576    95.00    95.00   10.250   54.09          160,414.77                   60478
 579    69.00    69.00    7.500   26.54          188,245.02                   97007
 595   100.00   100.00   10.840   47.69          119,420.67                   75241
 603    85.00    85.00    8.950   37.36          101,886.98                   33713
 607    90.00    90.00    9.790   51.14          191,521.92                   33060
 600    69.23    69.23    9.540   46.75          179,823.72                   32703
 600    75.00    75.00    9.390   46.35          103,395.39                   34608
 612    85.00    85.00    9.690   49.29          108,696.76                   48911
 519    54.90    54.90    9.990   39.48          139,875.34                   60620
 528    61.08    61.08    9.500   42.84          112,888.38                   60620
 500    80.00    80.00    9.890   47.74          342,088.60                   33477
 512    75.00    75.00    9.990   49.69          280,999.60                   60482
 530    85.00    85.00    9.600   44.07          151,153.68                   01109
 561    80.00    80.00   11.190   32.04           65,554.91                   75203
 504    80.00    80.00   10.450   25.01           59,951.59                   28675
 542    80.00    80.00    9.240   30.29          169,423.10                   98204
 584    80.00    80.00    8.750   37.08          131,847.57                   60471
 578    90.00    90.00   10.790   32.18          350,736.81                   02019
 546    46.67    46.67    9.600   39.92          216,790.14                   22554
 502    72.29    72.29    9.000   47.27          186,295.50                   98311
 540    85.00    85.00    9.890   36.89           94,264.19                   78501
 531    81.94    81.94    9.563   39.17          117,884.99                   15613
 529    80.00    80.00    9.690   39.08          123,083.11                   75165
 526    70.00    70.00   10.550   43.65          363,566.91                   02809
 515    75.00    75.00    9.800   43.69          191,072.71                   33312
 529    85.00    85.00    9.990   44.75          140,125.12                   33615
 541    75.00    75.00    8.800   46.17          118,364.57                   63129
 504    75.00    75.00   10.600   43.80          116,159.18                   48532
 580    39.38    39.38    9.290   47.40          314,674.88                   60618
 512    79.82    79.82    9.840   49.28          260,760.10                   75214
 505    80.00    80.00   10.350   50.39          181,450.28                   21060
 536    70.00    70.00    9.350   49.91          293,700.34                   34986
 512    70.00    70.00   10.350   50.47          248,295.13                   07108
 505    80.00    80.00    9.600   54.57           95,907.17                   48205
 564    80.00    80.00    7.500   46.89          459,540.75                   93550
 556    90.00    90.00   10.700   39.65           92,629.14                   17110
 553    40.00    40.00    9.300   34.91           79,917.60                   02914
 564    72.77    72.77    9.450   40.93          170,829.32                   08015
 550    90.00    90.00   10.680   42.07          143,437.22                   72120
 546    50.62    50.62    7.990   42.07          121,835.41                   98407
 552    52.27    52.27    8.850   46.49          160,817.88                   08901
 559    75.00    75.00    8.990   48.95          239,736.28                   60609
 566    71.90    71.90    9.240   49.23          162,330.51                   02910
 555    88.64    88.64    9.000   37.63          116,949.83                   60411
 571    83.40    83.40    9.250   38.89          195,921.99                   60629
 556    85.00    85.00   10.750   49.46          128,301.18                   60527
 570    85.00    85.00    9.950   49.48          314,398.60                   60487
 564    54.55    54.55    8.950   54.50          149,934.72                   32233
 621    47.62    47.62    7.840    6.39           99,860.93                   19709
 580    86.54    86.54    8.790   23.97          449,484.58                   91103
 655    89.99    89.99    8.650   28.46          179,687.92                   33167
 679    69.57    69.57    7.200   48.40          159,747.12                   33311
 678    70.00    70.00    6.150   32.74          112,481.42                   23452
 645    90.00    90.00   10.340   30.84          202,332.69                   93257
 575    90.00    90.00    9.340   36.20          122,274.98                   27127
 576    79.99    79.99    8.790   35.95          175,776.44                   06513
 643    90.00    90.00    8.600   37.07          202,258.80                   38018
 578    86.14    86.14    8.800   40.29          301,155.38                   64082
 658    90.00    90.00    9.250   41.56          206,784.54                   60455
 611    90.00    90.00    8.200   41.70          160,891.73                   60073
 613    61.62    61.62    9.050   38.19          113,736.36                   19126
 693    80.00    80.00    7.540   41.47          276,391.15                   02893
 625    89.96    89.96    9.390   42.83          110,737.97                   60130
 651    89.99    89.99    9.350   44.88          152,744.15                   33971
 604    90.00    90.00    9.150   47.27          242,741.73                   60163
 663    90.00    90.00    9.490   46.79          109,691.32                   77373
 646    90.00    90.00    8.600   48.87          244,508.40                   33351
 668    95.00    95.00    8.990   29.96          151,832.98                   98404
 653    90.00    90.00    9.600   46.53           80,921.67                   63115
 571    80.00    80.00   10.400   49.30          218,221.87                   08021
 637    90.00    90.00    7.790   49.41          251,378.45                   15022
 672    47.84    47.84    7.340   47.64          121,812.45                   95205
 563    85.00    85.00    8.919   49.02          331,130.32                   93312
 558    80.00    80.00    9.590   49.92          200,605.40                   48346
 641    85.00    85.00    8.850   51.92          253,862.50                   60617
 597    89.99    89.99    9.390   49.94          314,831.46                   95818
 569    75.34    75.34    8.340   29.24          109,861.80                   27295
 585    70.83    70.83    7.990   38.39          127,327.98                   33069
 579    80.00    80.00    8.590   47.77          135,837.67                   60073
 548    74.99    74.99    7.990   49.56          314,533.08                   06460
 600    62.09    62.09    7.900   45.25          266,633.16                   33170
 547    84.94    84.94    9.500   49.94          347,482.41                   95336
 675    90.00    90.00   10.965   36.08          103,500.00                   95823
 643    65.00    65.00    7.315   36.12          279,500.00                   91702
 697    85.00    85.00    8.150   42.33          276,250.00                   60632
 635    50.52    50.52    7.590   46.49          128,826.00                   85234
 688    80.00    80.00    7.690   45.60          264,000.00                   22192
 659    90.00    90.00    8.590   46.97          202,500.00                   60445
 647    80.00    80.00    7.190   48.79          294,400.00                   60639
 680    78.32    78.32    7.215   50.40          559,967.00                   92804
 613    76.47    76.47    7.140   32.95          129,904.50                   95422
 595    90.00    90.00    7.500   46.72          198,048.52                   97236
 630    49.18    49.18    7.940   34.73          149,912.27                   95354
 621    77.43    77.43    7.740   37.10          174,891.59                   34209
 597    88.47    88.47    8.700   23.29          260,877.70                   95351
 594    71.43    71.43    8.390   38.10          274,858.87                   89149
 599    80.00    80.00    8.575   38.63          387,973.85                   95307
 652    85.00    85.00    8.565   38.49          212,396.39                   92703
 605    77.00    77.00    7.190   40.39          262,283.84                   98042
 564    74.92    74.92    7.740   42.17          234,354.72                   33904
 577    74.97    74.97    7.890   42.33          580,655.26                   93010
 630    90.00    90.00    9.690   43.71          211,426.23                   85015
 593    90.00    90.00    8.490   44.07          152,923.74                   85353
 575    72.56    72.56    8.240   41.51          155,916.35                   21207
 624    85.00    85.00    7.490   41.98          191,972.19                   85353
 547    90.00    90.00    9.000   45.26          214,108.14                   85020
 637    81.46    81.46    6.990   44.31          311,760.91                   92337
 570    63.99    63.99    9.440   48.23          246,907.11                   94621
 648    88.50    88.50    9.430   46.92           99,962.28                   32218
 667    98.96    98.96    7.250   48.13          285,796.30                   85345
 669    90.00    90.00    8.090   48.20          188,894.15                   33067
 599    90.00    90.00   10.090   48.42          238,426.31                   85335
 582    90.00    90.00    9.590   49.56          143,922.04                   87108
 599    85.00    85.00    7.590   49.25          488,274.39                   90255
 644    80.00    80.00    6.890   49.40          331,738.36                   94509
 604    64.05    64.05    6.940    5.42          268,790.95                   95210
 578    80.00    80.00    7.450   50.38          207,860.01                   32817
 588    65.84    65.84    8.750   48.95          159,926.12                   20110
 702    95.00    95.00    9.400   53.89          465,322.82                   92805
 607    90.00    90.00    7.700   50.10          193,317.53                   97113
 612    90.00    90.00    9.290   50.93          229,409.74                   85201
 594    95.00    95.00   10.540   53.45          122,517.01                   64133
 561    90.00    90.00    8.940   49.20          118,748.15                   38305
 563    87.83    87.83    7.750   53.36          302,812.83                   95838
 547    72.00    72.00    8.590   24.76          179,912.87                   85716
 574    90.00    90.00    9.550   33.79          179,901.36                   60408
 576    85.00    85.00    8.750   37.44          127,441.12                   21215
 569    80.00    80.00    7.390   40.61          267,816.54                   92407
 560    72.12    72.12    7.640   50.61          149,904.38                   85033
 613    75.61    75.61    7.590   49.48          309,799.53                   92335
 569    85.00    85.00    8.790   52.14          267,627.81                   85323
 642    68.10    68.10    7.390   29.31          142,782.36                   08360
 641    90.00    90.00    7.690   30.34          186,931.68                   66012
 596    79.90    79.90    7.890   37.86          103,727.00                   76652
 567    79.69    79.69    9.490   33.97           76,424.28                   31217
 550    70.00    70.00    8.790   34.30          125,855.69                   33054
 674   100.00   100.00    9.500   30.48           85,872.10                   75227
 628    95.00    95.00    7.400   35.55          298,509.45                   75093
 571    85.00    85.00   10.390   34.46          161,367.99                   64011
 667    79.59    79.59    7.590   37.76          155,771.88                   32043
 581    80.00    80.00    6.790   40.51          239,588.80                   33010
 610   100.00   100.00    9.790   39.44           59,944.25                   76115
 621    75.00    75.00    7.490   30.08           89,865.72                   18466
 696    95.00    95.00    8.250   44.09          123,341.96                   23223
 653    95.93    95.93    8.330   43.00          564,288.68                   02532
 545    74.90    74.90    7.950   44.60          190,740.21                   34609
 595    79.00    79.00    8.450   46.29          295,886.07                   34112
 608    90.00    90.00    7.600   44.24          127,613.49                   77060
 634    85.00    85.00    9.040   48.46           89,152.94                   34748
 591    76.98    76.98    7.875   49.30          157,472.06                   34609
 646    85.00    85.00    9.100   49.71          212,571.46                   28079
 612    90.00    90.00    7.950   52.99          161,779.65                   33570
 543    65.88    65.88    8.640   38.79          111,867.69                   33126
 647    90.00    90.00    8.840   44.20           89,897.99                   48219
 527    79.99    79.99    9.750   41.92           82,472.66                   32208
 525    85.00    85.00   10.340   45.77          127,394.66                   23324
 548    80.00    80.00    8.850   45.86          235,733.04                   32712
 549    61.22    61.22    8.940   45.83          178,551.54                   33169
 635    79.87    79.87    6.950   47.80          310,972.80                   06478
 609    69.57    69.57    8.140   48.82          239,685.92                   02842
 613    90.00    90.00    8.915   34.56           94,500.00                   15063
 674    85.00    85.00    7.990   39.91          114,750.00                   33054
 608    80.00    80.00    8.425   43.97          216,000.00                   93534
 677    90.00    90.00    9.090   48.59          252,000.00                   08232
 632    39.56    39.56    7.000   49.99          180,000.00                   21776
 614    71.09    71.09    7.940   32.61          195,500.00                   33018
 584    47.54    47.54    7.640   29.61          163,895.45                   20874
 648    85.00    85.00    7.250   30.24          146,945.26                   98926
 694    80.00    80.00    6.700   35.51          159,759.19                   97128
 554    46.57    46.57    8.690   33.92          155,926.68                   20851
 598    90.00    90.00    8.100   36.06          188,894.47                   87112
 632    46.08    46.08    7.250   46.89          234,832.62                   94601
 606    78.43    78.43    7.250   37.14          268,808.40                   98501
 591    88.26    88.26    9.500   40.33          202,925.03                   60629
 605    90.00    90.00    7.625   43.31          172,183.95                   93702
 609    90.00    90.00    9.590   43.64          238,414.26                   33712
 613    55.15    55.15    8.700   46.00           90,957.37                   33610
 626   100.00   100.00    8.100   46.99          124,930.21                   75181
 640    42.18    42.18    6.225   47.91          299,216.38                   94112
 642   100.00   100.00    7.850   49.57          142,614.35                   83316
 601    88.52    88.52    8.390   46.50          107,944.57                   32504
 652    87.00    87.00    7.590   49.12          266,047.84                   98589
 587    90.00    90.00    8.890   49.68          152,032.61                   33313
 580    93.68    93.68    9.990   47.43          541,927.33                   01960
 604   100.00   100.00    6.225   49.67          286,728.20                   95204
 525    42.40    42.40    9.490   34.90          105,960.73                   86303
 557    85.00    85.00    8.740   36.69          150,380.32                   97479
 622    79.99    79.99    6.890   47.72          199,817.41                   97218
 580    58.82    58.82    8.040   48.56          223,373.02                   20850
 594    83.81    83.81    7.490   47.95          175,882.90                   84084
 605    62.74    62.74    7.790   49.49          122,178.13                   33167
 529    75.00    75.00    9.200   48.14           78,667.16                   76633
 580    66.49    66.49    7.750   23.88          124,822.97                   60453
 521    63.00    63.00    8.800   31.35          267,443.96                   91767
 538    65.00    65.00    8.540   42.05          194,764.85                   95301
 553    76.50    76.50    9.390   41.28          152,845.35                   85019
 500    70.00    70.00    8.965   45.35          279,690.72                   92571
 543    70.00    70.00    9.240   41.97          135,658.36                   85017
 538    85.00    85.00   10.815   54.25           70,497.39                   97836
 547    58.54    58.54    8.990   43.33          179,802.20                   33064
 516    80.00    80.00    8.750   54.80          106,277.12                   85621
 583    75.00    75.00    7.700   36.41          284,821.41                   98178
 533    80.00    80.00    9.540   36.42          263,903.66                   95205
 604    57.85    57.85    8.600   47.27          208,149.50                   33004
 510    80.00    80.00    9.500   22.87          103,098.08                   61111
 564    80.00    80.00    9.690   42.09          131,874.76                   21207
 687    80.00    80.00    6.990   33.20          247,809.95                   33461
 537    53.54    53.54    7.990   37.01          324,561.52                   90007
 542    85.00    85.00    9.180   34.03           90,756.40                   19901
 656    20.00   100.00   12.290   49.90           56,569.48                   33064
 655    20.00   100.00   12.290   49.61           51,272.33                   33971
 661    20.00   100.00   10.940   48.22           64,952.81                   22193
 654    18.72    93.66   12.390   46.77           29,934.21                   53140
 653    20.00   100.00   10.990   48.96           53,361.66                   60171
 656    20.00   100.00   10.990   48.86           47,365.97                   98031
 654    20.00   100.00   11.540   38.67           97,337.99                   95207
 655    20.00   100.00   11.540   43.88          114,726.92                   95376
 653    20.00   100.00   11.840   42.28           92,716.65                   92019
 655    20.00   100.00   11.540   49.12           51,167.41                   92325
 654     9.90    89.06   10.990   35.80           47,465.91                   91744
 653    20.00   100.00   11.840   48.48          109,934.46                   90001
 654    20.00   100.00   11.840   47.98          112,932.68                   92316
 656    15.00    95.00   11.650   45.06           70,156.38                   92114
 654    19.99    99.98   11.850   46.57           44,823.34                   89106
 534    66.84    66.84    9.300   49.38          326,854.63                   90650
 667    80.00    80.00    8.990   40.65          208,810.30                   32164
 537    54.82    54.82    8.800   44.13          127,779.74                   80220
 637    80.00    80.00    8.500   54.42          142,431.95                   47331
 512    63.33    63.33    8.600   53.95          218,239.72                   92376
 642    80.00    80.00    7.850   50.27          194,105.42                   91761
 542    70.00    70.00    7.550   59.50          195,676.44                   85032
 692    15.00    95.00   11.750   44.68           56,498.19                   89141
 520    79.19    79.19    7.650   49.35          390,278.98                   92316
 567    85.00    85.00    8.990   39.67          135,622.17                   85042
 647    20.00   100.00   12.450   47.04           69,353.56                   92345
 516    70.00    70.00    7.400   42.25          122,125.54                   60438
 552    84.69    84.69    9.100   36.31           45,656.05                   52214
 607    80.00    80.00    7.350   35.26          214,400.00                   30087
 656    80.00    80.00    8.000    0.00          320,000.00                   90220
 504    80.00    80.00   10.500   38.95           91,851.83                   85706
 533    80.00    80.00    8.250   49.94          319,567.90                   92376
 526    18.33    18.33    7.600   47.11           44,731.64                   93505
 656    95.00    95.00    9.700   12.59           73,045.68                   40160
 526    85.00    85.00    8.850   29.39          138,153.47                   64429
 637    20.00   100.00   12.000   49.00           42,922.89                   92275
 772    14.98    94.97   10.000   37.66           45,339.23                   89123
 587    90.00    90.00    9.850   37.91          137,631.06                   33801
 670    20.00   100.00   12.500   41.53           88,907.46                   90042
 560    80.00    80.00    8.850   49.52          255,827.22                   89109
 613    80.00    80.00    8.350   48.61          230,400.00                   01844
 609    79.45    79.45    7.350   43.37          343,599.39                   92557
 667    10.00    90.00   11.500   49.81           33,955.90                   91766
 627    80.00    80.00    7.300   49.98          408,000.00                   93536
 587    73.07    73.07    8.400   33.30           49,956.50                   73044
 525    64.40    64.40    8.400   34.75          122,905.26                   97304
 726    80.00    80.00    9.850    0.00          200,615.81                   07827
 664    79.63    79.63    9.238    0.00          425,555.48                   08527
 689    80.00    80.00    8.650    0.00          303,641.58                   20781
 614    95.00    95.00    9.150   37.19           61,684.36                   18702
 608    80.00    80.00    8.650   28.64           69,517.93                   29369
 641    89.47    89.47    9.750   49.20           75,529.15                   29306
 559    90.00    90.00    9.650   43.69           80,922.48                   19526
 615    80.00    80.00    9.725   48.98           85,879.02                   79938
 609    80.00    80.00    8.950   28.15           92,297.62                   64055
 662    90.00    90.00   12.675   46.83          102,549.24                   37216
 650    80.00    80.00    9.325   41.45          119,877.04                   37082
 580    95.00    95.00    8.900   38.48          133,800.03                   17057
 563    95.00    95.00   10.900   41.25          146,757.39                   45102
 636    80.00    80.00    6.990   46.30          155,742.99                   97230
 535    95.00    95.00   11.400   50.38          163,366.28                   39047
 750    90.00    90.00    8.750   39.12          175,297.32                   32782
 760    90.00    90.00    7.350   41.04          179,723.86                   32822
 584    80.00    80.00   10.300   17.80           31,973.32                   46031
 593    80.00    80.00   11.200   40.84           47,967.07                   19604
 545    85.00    85.00    9.350   37.11           72,176.35                   36207
 645    95.00    95.00    9.050   40.09           75,917.52                   19144
 573    95.00    95.00   10.150   45.12           97,765.80                   58103
 642    80.00    80.00    7.400   30.59          129,111.80                   76309
 640    90.00    90.00    9.000   50.36          139,347.03                   50208
 528    90.00    90.00   10.950   41.82          160,533.63                   66502
 737    95.00    95.00    8.675   43.25          643,473.00                   11412
 565    95.00    95.00    9.850   48.49          136,184.72                   46356
 595   100.00   100.00   10.675   36.50          204,742.47                   87114
 597    90.00    90.00    9.150   48.55          238,246.50                   34221
 670    80.00    80.00    9.450    0.00          411,588.79                   20132
 640    80.00    80.00    7.075   46.11          151,673.87                   87111
 657    90.00    90.00    9.925   31.09          247,276.56                   75762
 547    70.00    70.00    8.950    9.87          174,806.10                   98675
 661    90.00    90.00   12.700   24.65           38,231.17                   46235
 684    95.00    95.00    7.200   43.25           72,026.78                   45223
 602    85.00    85.00    8.300   43.87           93,381.55                   65802
 654    80.00    80.00    8.275   42.38          111,857.40                   48192
 630    95.00    95.00    8.025   41.40          127,129.45                   24588
 512    80.00    80.00    9.600   46.11          127,796.29                   70737
 593    85.00    85.00    9.100   44.68          140,099.38                   83651
 555    83.42    83.42    9.550   47.73          160,842.64                   38053
 682    95.00    95.00    8.225   40.72          164,261.48                   85009
 603    95.00    95.00    7.800   41.88          171,708.93                   34668
 613    80.00    80.00    8.900   48.28          193,223.42                   30331
 657    90.00    90.00    8.450   41.92          337,355.07                   89139
 661    90.00    90.00   12.700   24.68           38,231.17                   46235
 588    90.00    90.00    9.150   51.31          188,799.13                   23233
 617    89.50    89.50    7.900   32.16           89,377.01                   42101
 603    80.00    80.00    9.000   35.49          100,289.89                   64056
 600    90.00    90.00    8.650   34.99          103,377.97                   83605
 559    94.22    94.22    9.900   47.95          103,550.94                   77014
 604    82.22    82.22    9.275   33.06          110,425.52                   67037
 512    85.00    85.00   10.900   33.97          124,858.51                   64037
 619    80.00    80.00    9.625   43.75          131,873.01                   73072
 555    85.00    85.00   10.650   49.97          153,731.09                   60110
 635    90.00    90.00   10.850   47.30          210,354.18                   34286
 690    80.00    80.00    9.200   49.72          551,200.00                   95648
 694    84.00    84.00    9.000    0.00          314,654.57                   11434
 576   100.00   100.00   11.900   47.75          181,967.91                   83634
 520    80.00    80.00   11.225   22.45           75,148.69                   70360
 618    44.94    44.94    7.700   29.73           79,885.56                   85344
 574   100.00   100.00   10.650   33.81          146,796.77                   84043
 659    95.00    95.00    7.990   46.68          158,435.94                   01301
 609    55.94    55.94    7.150   27.72          159,744.59                   37659
 637    80.00    80.00    7.950   50.46          219,200.00                   98684
 626    80.00    80.00    9.625   36.07          182,224.52                   76051
 733    80.00    80.00    8.075    0.00          121,438.73                   73003
 553    68.85    68.85   10.450   22.93           41,966.09                   35206
 603    80.00    80.00    8.750   46.31           71,836.93                   47960
 616    80.00    80.00    8.250   48.70          108,580.86                   38018
 615    80.00    80.00    8.050   36.65          118,082.40                   37379
 669    69.42    69.42    7.875   39.31          419,420.00                   94545
 600    80.00    80.00    8.300   38.15          137,425.69                   34473
 607    80.00    80.00    8.050   46.85           76,617.72                   58703
 556    70.00    70.00    8.800   32.74          135,644.77                   23832
 553    85.00    85.00    9.550   40.09          144,358.78                   85344
 680    41.32    41.32    6.325   33.20          249,769.63                   94806
 572    85.00    85.00   10.425   41.93          114,656.90                   29115
 555    90.00    90.00   10.750   47.31           84,086.34                   45044
 628   100.00   100.00   11.000   21.87           47,465.96                   44123
 600    67.42    67.42    8.225    9.89           59,922.82                   83301
 618    80.00    80.00    7.750   48.46           80,800.00                   19530
 558    85.00    85.00    9.000   38.48          140,945.26                   63376
 552    95.00    95.00    9.900   49.79          141,991.01                   58078
 642    80.00    80.00    8.075   30.97          239,864.99                   84065
 598    90.00    90.00    7.950   44.63          305,583.79                   33063
 658    80.00    80.00    9.925   48.43          368,000.00                   85381
 520    48.94    48.94    9.425   22.22          114,884.61                   21144
 507    85.00    85.00   10.925   37.76           78,652.68                   36695
 606    90.00    90.00   10.100   43.76          620,100.00                   11385
 563    83.82    83.82    9.725   41.07           71,182.89                   99202
 611    80.00    80.00    8.050   49.17          102,183.62                   77469
 723    79.79    79.79    8.350   14.68          153,806.90                   38103
 568    75.00    75.00    9.725   31.19          159,599.53                   18072
 660    80.00    80.00    8.525   48.05          187,907.24                   22542
 587    80.00    80.00    8.500   41.27          256,487.76                   38112
 659    80.00    80.00    8.750   20.61          157,360.00                   85650
 680    80.00    80.00    7.850   33.75           99,861.20                   76310
 646    90.00    90.00    8.175   37.64          260,660.83                   83687
 590    65.22    65.22    9.925   48.89          149,864.57                   28570
 564    90.00    90.00   10.400   30.04          290,013.26                   02721
 643    90.00    90.00    9.150   48.73           71,923.47                   31204
 585    85.00    85.00    8.975   35.29          258,964.22                   19131
 501    80.00    80.00   10.675   39.20           61,552.64                   38804
 591    90.00    90.00    8.200   45.31          168,981.24                   30106
 666    95.00    95.00    8.600   23.58           71,215.61                   75232
 610    80.00    80.00    8.175   42.21          262,059.02                   74133
 619    92.81    92.81    7.700   46.26          120,477.41                   83401
 507    85.00    85.00   10.075   46.00           76,433.10                   35214
 623    80.00    80.00    7.600   45.75          227,667.23                   98201
 587    80.00    80.00    7.675   22.52          187,729.71                   35007
 623    80.00    80.00    8.750    8.75          200,248.47                   49201
 730    95.00    95.00    9.425   17.37          399,548.70                   11385
 621    79.79    79.79    8.500   27.77          149,817.60                   83702
 575    85.00    85.00   10.350   42.99          182,599.33                   85051
 563    71.54    71.54    7.975   34.76          229,688.73                   89117
 552    80.00    80.00    8.925   48.14           91,897.52                   83605
 608    90.00    90.00    9.400   49.36           80,918.30                   45601
 664    95.00    95.00    9.950   42.61           91,972.34                   37042
 660    80.00    80.00    7.400   41.04          129,364.19                   97306
 623    80.00    80.00    8.325   44.30          193,433.00                   85326
 638    90.00    90.00   10.800   35.83          219,345.76                   83616
 608    80.00    80.00    7.800   26.02          231,674.75                   19111
 619    95.00    95.00   10.058   45.46          208,816.59                   08108
 765    80.00    80.00    8.725    0.00          111,790.07                   97303
 573    71.76    71.76   11.075   31.98           60,957.00                   77598
 546    85.00    85.00    7.975   34.17          241,922.16                   98258
 555    80.00    80.00    9.250   23.92          158,235.13                   37663
 609    80.00    80.00    9.100   40.30           87,905.49                   27288
 535    80.00    80.00    9.275   13.29          103,892.31                   60628
 685    95.00    95.00   12.975   40.55          244,986.66                   45242
 537    75.00    75.00   10.850   41.92          256,410.07                   85242
 723    80.00    80.00    9.250    0.00           95,900.08                   73069
 610    94.60    94.60    8.900   40.79          297,666.36                   95926
 603    80.00    80.00    8.750   41.68           73,514.98                   83651
 556    90.00    90.00   10.100   49.81          114,200.57                   83607
 626    48.16    48.16    6.400   54.51          143,733.83                   93270
 559    75.00    75.00    8.450   30.03          149,815.73                   87035
 678    80.00    80.00    9.500   46.23           99,901.22                   83709
 656    80.00    80.00    8.350   44.60          163,200.00                   97006
 657    80.00    80.00    8.775   45.20          615,292.26                   33946
 598    90.00    90.00    7.700   43.52          166,261.83                   20774
 500    38.60    38.60    9.150   45.41          109,883.08                   66049
 653    80.00    80.00    8.125   43.38          113,442.88                   78245
 608    95.88    95.88    7.200   29.85          162,742.37                   46226
 519    85.00    85.00   10.575   35.61           83,234.56                   37015
 673    95.00    95.00    9.000   37.09          113,400.51                   60471
 629    65.00    65.00    7.150   43.40          214,500.00                   34953
 587    90.00    90.00   10.400   43.90           85,430.26                   19131
 604    90.00    90.00   10.625   41.82          240,917.60                   33032
 586    90.00    90.00    9.700   47.63           97,510.72                   19522
 549    85.00    85.00   11.025   36.81           40,951.13                   42211
 557    80.00    80.00    9.660   27.93          109,841.80                   17402
 625    88.89    88.89    8.950   24.15           63,929.08                   66041
 522    80.00    80.00    9.800   43.77           66,307.29                   37601
 645    90.00    90.00    9.950   48.76          121,335.65                   87120
 573    80.00    80.00    9.725   44.81          203,710.60                   83858
 653    80.00    80.00    7.650   45.24          368,000.00                   87112
 603    56.52    56.52    8.500   38.79           51,904.81                   18202
 551    95.00    95.00   11.275   23.42          128,119.59                   81122
 708    95.00    95.00    7.550   45.91          259,224.00                   04011
 667    80.00    80.00    7.375   46.32          115,684.14                   46036
 665    80.00    80.00    8.325   27.51          360,000.00                   30039
 649    90.00    90.00   13.525   20.55           47,670.60                   76711
 571    95.00    95.00    8.850   45.65          170,706.23                   76028
 518    16.97    16.97   11.800   31.07           26,276.15                   37167
 719    95.00    95.00    9.250   40.16           40,785.96                   46224
 533    85.00    85.00   10.575   24.01           72,588.98                   45840
 559    80.00    80.00   10.850   17.88           39,955.37                   67530
 637    89.38    89.38    9.975   48.30          100,864.09                   30906
 668    95.00    95.00    9.500   37.55           40,694.35                   46235
 627    80.00    80.00    8.875   48.92          100,904.73                   78046
 584    85.00    85.00    6.750   44.44          152,602.57                   33147
 566    90.00    90.00    9.825   44.17          257,851.38                   30273
 628   100.00   100.00   11.850   47.14           39,964.13                   17901
 568    95.00    95.00   10.300   45.33           73,058.17                   46628
 697    95.00    95.00    9.650   52.07          198,075.00                   30252
 558    95.00    95.00   10.550   51.19          122,064.68                   75154
 502    75.00    75.00   12.075   21.04           47,209.71                   37814
 501    76.76    76.76   11.725   35.89           57,514.95                   77048
 717    95.00    95.00    8.875   26.42           73,500.24                   77042
 720    95.00    95.00    9.000   41.88           56,905.88                   21215
 622    95.00    95.00   10.175   50.84          113,853.01                   30349
 716    94.78    94.78    8.775   48.37          218,000.00                   33625
 598    80.00    80.00   10.375   49.17          318,805.68                   92707
 596    80.00    80.00   10.950   44.83          171,748.54                   21716
 510    70.00    70.00   10.350   43.68          261,474.85                   98201
 612    95.00    95.00    9.625   49.59          165,927.55                   32808
 647    80.00    80.00    9.325   45.97           97,369.53                   12189
 603    95.00    95.00    9.675   45.03          170,671.55                   48075
 613    95.00    95.00    9.050   46.17           70,999.36                   30291
 641    95.00    95.00    9.675   23.78           89,446.00                   04042
 636    80.00    80.00    8.200   45.44          146,400.00                   83634
 588    85.00    85.00    8.950   37.05           78,025.38                   15106
 668    80.00    80.00    7.288   41.87          156,309.95                   28412
 623    80.00    80.00   10.250   48.85           50,292.48                   29303
 611    86.25    86.25   12.050   42.10          413,173.17                   37064
 656    84.47    84.47    9.075   47.54          680,000.00                   91403
 570    95.00    95.00    9.800   49.57           55,023.07                   77099
 551    90.00    90.00    9.525   44.21          295,512.67                   30087
 680    85.00    85.00    8.200   42.85           90,752.82                   46012
 673    15.00    95.00   10.750   35.72           49,305.98                   33304
 649    95.00    95.00    7.950   47.92          402,923.55                   11412
 699    22.19    22.19    6.250   39.64          141,401.77                   11423
 551    65.00    65.00    9.850   43.95          246,773.45                   01801
 537    35.87    35.87    9.990   32.82          134,380.25                   02081
 591    90.00    90.00    8.550   49.01          170,916.25                   02909
 626    70.00    70.00   10.650   47.43          437,161.87                   11422
 600    90.00    90.00    7.250   47.75          352,548.72                   33012
 580    85.00    85.00    9.990   54.19          237,036.21                   33463
 532    70.00    70.00    9.250   54.23          192,299.64                   02857
 725   100.00   100.00    9.990   49.79          199,821.92                   04072
 597    80.00    80.00    7.450   47.65          110,233.97                   34491
 775    80.00    80.00    8.400   48.05          339,789.75                   11433
 570    75.00    75.00    8.250   46.00          269,654.48                   02703
 631    72.29    72.29    6.800   45.52          299,757.58                   11691
 679    90.00    90.00    8.990   23.11          193,394.09                   02909
 551    80.00    80.00    9.500   44.59          315,687.90                   33442
 615    73.41    73.41    9.350   49.69          155,920.81                   07462
 569    66.04    66.04    7.800   47.85          209,705.59                   02861
 579    65.00    65.00    9.500   33.63          149,426.46                   02917
 583    55.22    55.22    8.500   51.88          147,820.05                   32127
 667    90.00    90.00    9.000   50.61          309,260.51                   02905
 604    85.00    85.00    9.450   49.28          478,921.51                   10467
 739    88.82    88.82    7.990   49.71          376,990.69                   11726
 514    80.00    80.00    8.950   41.48          123,931.56                   06051
 519    90.00    90.00    7.500   24.25          216,000.00                   02893
 618    80.00    80.00    7.990   45.33          284,718.18                   34116
 609    55.00    55.00    6.800   48.79          200,105.55                   11722
 538    80.00    80.00   10.450   43.29          194,321.91                   02888
 685    80.00    80.00    8.990   44.47          246,265.13                   02852
 685    20.00   100.00   11.900   44.47           61,581.98                   02852
 678    90.00    90.00    7.500   42.53          229,779.35                   32257
 693    61.85    61.85    8.000   39.25          341,170.93                   11207
 724    80.00    80.00    7.900   34.88          194,412.53                   85650
 524    64.29    64.29    8.625   55.00          449,784.42                   96819
 638    79.95    79.95    6.750   37.02          331,000.00                   20774
 601    80.00    80.00   11.200   34.41          179,351.21                   19147
 610    70.00    70.00   10.750   24.00           64,733.65                   49958
 599    80.00    80.00    7.950   54.06           84,684.66                   76502
 605    43.01    43.01    7.525   54.80          199,868.24                   91331
 657    95.00    95.00    8.750   48.02          332,116.00                   07083
 661    80.00    80.00    7.800   41.29          451,862.83                   11236
 725    80.00    80.00    7.775   39.85          220,000.00                   33165
 651    90.00    90.00    8.345   51.22          141,122.63                   33781
 575    75.00    75.00    7.600   45.96          749,516.37                   32836
 622    80.00    80.00    7.950   38.43          246,400.00                   95351
 694    80.00    80.00    7.650   29.87          723,539.76                   90010
 514    74.85    74.85    9.990   42.48          121,980.64                   33069
 547    63.06    63.06    9.650   33.92          226,879.30                   85308
 673    80.00    80.00    6.975   36.83          175,920.00                   33972
 711    80.00    80.00    7.775   49.96          151,826.81                   92275
 549    76.13    76.13    7.800   39.63          235,928.38                   33403
 668    95.00    95.00    7.550   45.44          212,186.12                   93291
 622    64.71    64.71    8.375   51.57          109,943.28                   97360
 727    80.00    80.00    8.375   28.68          359,640.79                   32832
 608    80.00    80.00    7.025   47.45          352,000.00                   22309
 660    84.57    84.57    7.625   43.93          296,000.00                   95758
 597    80.00    80.00    7.575   42.70          159,896.07                   98337
 603    90.00    90.00    9.900   49.55          129,032.77                   73099
 732    80.00    80.00    7.825   45.59          283,828.30                   92675
 639    80.00    80.00    8.575   49.07          263,737.85                   78664
 617    85.00    85.00    8.825   35.64          110,374.35                   48185
 617    80.00    80.00    7.925   38.10           79,890.65                   72364
 630    95.00    95.00    8.990   27.03          122,415.32                   58601
 712    80.00    80.00    8.775   40.93          259,701.27                   33168
 694    80.00    80.00    8.100   43.28          699,609.11                   92692
 637    85.00    85.00    8.251   52.50          212,228.10                   23139
 603    80.00    80.00    8.275   47.18           83,977.78                   38128
 551    80.00    80.00    9.300   44.20          311,678.64                   87102
 581    80.00    80.00    7.950   48.81          439,743.39                   22485
 636    80.00    80.00    7.890   49.27          119,834.78                   68005
 532    80.00    80.00   10.900   46.25          198,376.20                   33613
 638    80.00    80.00    6.925   42.97          239,847.11                   89506
 601    61.18    61.18    7.225   31.40           98,429.33                   33607
 617    40.00    40.00    9.425   24.10          139,947.10                   93445
 507    75.00    75.00   10.450   32.55           52,478.91                   35228
 692    80.00    80.00    8.775   43.91          363,622.74                   76034
 503    69.78    69.78   10.900   42.20          156,962.16                   08031
 660    80.00    80.00    7.925   47.21          315,531.33                   95819
 620    78.70    78.70    8.875   36.94          849,621.74                   94107
 605    88.50    88.50    7.600   52.64          199,871.03                   01440
 581    70.80    70.80    9.950   14.15           79,974.20                   34428
 640    90.00    90.00    7.600   33.34          211,191.33                   34233
 655    80.00    80.00    7.225   36.42          322,320.00                   21244
 638    80.00    80.00    7.750   51.83          575,644.17                   91505
 620    80.00    80.00    7.450   33.79          392,209.28                   18942
 621    90.00    90.00    8.825   39.90          337,500.00                   30324
 553    74.37    74.37    9.350   56.97          205,920.40                   21244
 502    52.78    52.78    9.250   21.56          189,962.32                   95632
 624    80.00    80.00    7.435   47.80          616,920.00                   92103
 648    84.94    84.94    7.990   49.01          326,558.81                   60451
 597    77.24    77.24    8.990   40.51          223,903.65                   92231
 601    86.33    86.33    7.990   48.62          211,378.07                   97222
 616    80.00    80.00    6.500   30.77          239,436.00                   98229
 672    80.00    80.00    8.375   27.22           94,161.82                   31008
 646    80.00    80.00    6.800   42.54          546,080.00                   92694
 679    95.00    95.00    7.650   48.62          280,250.00                   33897
 549    80.00    80.00    8.400   51.92          197,877.56                   44420
 534    80.00    80.00    9.850   34.06          219,798.20                   79925
 626    80.00    80.00    8.650   47.80          318,248.56                   01945
 572    37.21    37.21    8.500   41.09          111,972.26                   34113
 740    80.00    80.00    8.675   50.73          264,041.93                   89178
 781    80.00    80.00    7.925   43.35          202,243.14                   34758
 655    80.00    80.00    6.650   33.60          380,000.00                   91706
 661    90.00    90.00    7.225   44.36          190,499.93                   85364
 502    80.00    80.00   10.250   30.17          197,941.73                   85225
 527    62.50    62.50    8.200   35.81           74,903.03                   85008
 656    80.00    80.00    7.675   49.36          396,000.00                   91744
 611    80.00    80.00    7.300   44.69          595,581.44                   90505
 675    80.00    80.00    7.325   48.53          170,400.00                   61832
 525    52.08    52.08   10.150   45.09          137,958.12                   01507
 606    85.00    85.00    8.000   48.30          182,697.64                   98408
 595    80.00    80.00    7.650   40.35          271,827.09                   95945
 615    95.00    95.00    8.400   20.10          104,446.53                   28405
 602    94.74    94.74    6.300   49.79          269,875.07                   93726
 554    80.00    80.00    8.990   36.93          291,874.40                   93614
 632    80.00    80.00    8.500   30.59           60,769.77                   80232
 584    80.00    80.00    9.950   29.23           99,967.74                   99207
 538    67.90    67.90    7.850   47.01          293,823.54                   20772
 613    90.00    90.00   10.050   42.33           53,928.48                   48215
 634    89.90    89.90    9.990   23.44           56,586.56                   06498
 691    80.00    80.00    9.125   37.48          319,485.22                   20018
 639    79.99    79.99    7.990   48.49          294,630.05                   92591
 613    78.85    78.85    9.100   36.09          163,931.72                   23464
 603    80.00    80.00    6.925   48.64          244,000.00                   02864
 657    80.00    80.00    7.866   49.98          495,852.31                   90250
 605    64.31    64.31    7.000   34.59          163,730.35                   97394
 580    80.00    80.00    7.825   31.06          127,821.43                   08096
 633    95.00    95.00    7.750   32.57          275,415.18                   01002
 623    80.00    80.00    7.375   43.41          447,120.00                   95023
 524    69.75    69.75   11.050   50.67          192,455.73                   95926
 607    90.00    90.00    7.900   28.88          135,410.06                   02893
 640    80.00    80.00    7.575   41.57           85,600.00                   08030
 617    80.00    80.00    7.780   36.80          121,428.83                   75791
 618    91.09    91.09    8.050   49.14          234,866.85                   21014
 669    80.00    80.00    8.400   45.48          534,787.72                   96717
 502    80.00    80.00   10.900   14.47           64,464.59                   31545
 619    80.00    80.00    7.100   49.19          260,303.54                   89131
 621    80.00    80.00    6.125   54.35          743,275.94                   90027
 662    80.00    80.00    6.900   28.07          235,604.27                   22611
 597    73.33    73.33    7.900   42.87          164,902.36                   89142
 620    71.43    71.43    7.350   41.90          299,539.75                   90059
 644    80.00    80.00    7.875   53.71          311,814.07                   91768
 678    80.00    80.00    7.400   41.36          228,563.86                   15613
 603    84.36    84.36    6.800   44.85          185,448.02                   97211
 613    90.00    90.00    9.450   48.43          272,070.00                   33435
 616    90.00    90.00    9.700   37.72          189,270.61                   70734
 658    80.00    80.00    9.600   49.00          100,702.51                   53546
 610    90.00    90.00    8.675   43.32          580,500.00                   95023
 681    80.00    80.00    7.725   34.65          263,624.25                   93270
 591    80.00    80.00    9.475   48.46          598,492.94                   02186
 638    80.00    80.00    7.825   34.32           75,095.09                   63020
 511    34.79    34.79   11.125   50.43          121,707.75                   97210
 512    80.00    80.00    7.975   38.03          379,779.98                   20735
 595    80.00    80.00    6.700   30.50          335,720.80                   92553
 719    61.11    61.11    6.500   12.71          274,501.44                   19064
 692    72.86    72.86    9.100    8.03           50,945.21                   48238
 614    85.00    85.00    9.075   26.43           63,681.18                   48221
 768    90.00    90.00    6.800   44.39          197,920.22                   01420
 635    80.00    80.00    6.750   32.48          224,708.15                   37138
 597    80.00    80.00    9.325   21.14          175,896.84                   33441
 605    94.38    94.38    8.850   40.82          150,655.84                   46219
 580    67.42    67.42    8.950   52.86           88,921.94                   83607
 610    58.82    58.82    9.775   15.18          109,981.37                   32953
 533    70.00    70.00   10.500   48.09           59,452.50                   44304
 792    80.00    80.00    7.975   36.81          391,773.02                   93551
 592    75.79    75.79    8.150   29.81          143,906.28                   21216
 599    80.00    80.00    8.000   46.74          153,600.00                   80909
 619    72.65    72.65    6.750   31.64          177,927.27                   93648
 505    80.00    80.00    8.990   39.56          175,924.28                   93702
 619    80.00    80.00    7.775   37.76          185,592.47                   30022
 645    80.00    80.00    8.350   36.02          290,400.00                   07104
 666    80.00    80.00    7.475   42.37          228,000.00                   33056
 661    80.00    80.00    9.925   48.54          159,855.55                   65037
 662    80.00    80.00    8.300   41.13          471,020.20                   91766
 612    95.00    95.00    7.200   48.80          237,154.79                   01905
 585    78.93    78.93    6.250   21.71          221,000.00                   89015
 556    71.25    71.25    8.300   39.97          279,645.31                   20735
 589    80.00    80.00    9.990   39.13          152,663.94                   01151
 522    70.77    70.77    9.950   26.67          183,917.73                   67050
 535    64.93    64.93    8.550   40.31          136,932.91                   93263
 611    80.00    80.00    7.825   48.87           63,111.83                   78245
 500    80.00    80.00   10.313   39.62          154,355.43                   30349
 640    78.95    78.95    7.350   35.68          120,614.67                   78750
 512    69.91    69.91   10.050   43.22           78,975.29                   23669
 630    95.00    95.00    9.800   53.19          280,155.43                   34104
 645    88.24    88.24    9.625   49.37          749,598.20                   96734
 771    80.00    80.00    8.625   43.14          131,843.56                   19082
 617    80.00    80.00    8.400   38.15          115,856.02                   83501
 579    67.02    67.02    9.550   52.14          318,688.24                   89145
 612    85.00    85.00    7.250   49.68          205,700.00                   19057
 549    70.00    70.00    9.650   43.49           88,857.63                   17109
 546    75.00    75.00    9.100   51.83           78,665.42                   60901
 575    80.00    80.00    8.850   51.14          111,936.88                   39560
 586    56.67    56.67    7.850   42.04          169,949.14                   95519
 693    80.00    80.00    8.500   42.02          203,751.94                   89110
 552    77.60    77.60    8.625   42.27          647,689.55                   90019
 689    80.00    80.00    9.050   44.60          579,754.93                   94112
 622    90.00    90.00    9.400   50.08          449,546.11                   06360
 610    85.00    85.00    8.050   46.00          271,637.46                   20707
 687    80.00    80.00    7.675   47.39           59,913.72                   65453
 778    80.00    80.00    7.175   41.15          275,561.61                   33837
 679    80.00    80.00    7.275   49.78          219,844.39                   93535
 718    90.00    90.00    6.450   52.72          616,500.00                   91107
 612    90.00    90.00    7.500   31.69          404,731.28                   93550
 533    80.00    80.00    9.690   46.21          335,882.79                   33437
 634    95.00    95.00    7.990   45.30          216,412.08                   01095
 608    80.00    80.00    7.125   44.22          478,000.00                   92801
 619    40.46    40.46    8.475   49.16          131,339.27                   33411
 573    80.00    80.00    8.600   45.17          667,677.62                   94521
 633    80.00    80.00    8.125   42.79          280,000.00                   92374
 520    79.88    79.88   11.625   43.19           65,479.63                   78566
 652    95.00    95.00    8.325   46.49          246,935.62                   53027
 612    90.00    90.00    9.200   49.06          782,683.63                   33950
 529    75.00    75.00    9.700   13.15          112,393.46                   78022
 648    80.00    80.00    7.125   36.50           65,894.12                   48342
 673    80.00    80.00    8.475   19.56          187,953.10                   60458
 584    73.24    73.24    8.600   27.84          103,813.51                   23222
 619    90.00    90.00   10.375   41.74          166,362.86                   60087
 672    80.00    80.00    6.975   48.33           95,920.92                   12066
 701    80.00    80.00    9.175   27.78          337,440.00                   92101
 515    62.75    62.75    9.950   42.78          127,979.44                   32219
 602    85.00    85.00    8.800   45.67          174,050.82                   23321
 607    65.00    65.00    7.200   40.79           87,750.00                   30296
 502    70.00    70.00   11.100   38.29           52,425.70                   46901
 713    80.00    80.00    8.425   38.61          377,788.00                   92203
 626    80.00    80.00    7.075   42.29          251,199.99                   33311
 674    95.00    95.00    8.650   49.23          204,201.60                   92260
 655    80.00    80.00    8.275   45.21          263,060.31                   92404
 520    44.00    44.00   11.425   26.66           50,127.23                   77075
 542    76.05    76.05    9.200   41.23          163,241.04                   78749
 768    80.00    80.00    8.375   49.10          412,000.00                   90715
 681    80.00    80.00    7.850   39.90          307,572.51                   56443
 624    84.38    84.38    8.500   38.67          134,835.86                   33880
 652    80.00    80.00    8.025   48.01          238,618.00                   85339
 580    80.00    80.00    8.450   51.61          199,248.92                   77339
 733    80.00    80.00    7.475   48.41          132,000.00                   55021
 637    80.00    80.00    7.350   51.78           76,800.00                   37920
 599    80.00    80.00    9.250   21.50           70,736.96                   72143
 682    80.00    80.00    7.525   30.15          105,830.22                   77047
 601    95.00    95.00    8.100   48.24          265,851.46                   21206
 633    90.00    90.00    9.700   37.33          341,676.18                   63368
 627    90.00    90.00   10.525   38.55           88,164.04                   49201
 549    68.18    68.18    7.450   22.63          112,330.81                   23325
 513    71.05    71.05   10.000   24.16          269,914.26                   33543
 525    80.00    80.00   10.350   45.07          119,850.97                   64056
 624    80.00    80.00    8.525   42.64          138,365.98                   80911
 630    80.00    80.00    8.220   42.08          207,732.19                   01702
 503    68.37    68.37   10.500   46.56          146,959.93                   32233
 610    89.60    89.60    8.500   32.68          111,944.33                   23434
 631    80.00    80.00    8.675   33.17           91,892.08                   77084
 518    54.39    54.39    8.950   53.53          154,932.53                   93461
 609    60.22    60.22    6.575   44.93          108,707.07                   77505
 653    80.00    80.00    7.725   37.16          218,264.12                   95301
 504    75.00    75.00    9.800   49.14          239,959.67                   34711
 596    80.00    80.00    9.863   41.07          140,753.39                   60473
 623    80.00    80.00    9.438   40.88          147,140.62                   72204
 745    80.00    80.00    7.775   48.33           73,587.09                   80237
 621    90.00    90.00    8.700   31.24          306,000.00                   93610
 512    75.00    75.00    9.450   47.55          134,865.26                   37073
 711    80.00    80.00    6.675   47.50          289,600.00                   96003
 593    52.35    52.35    7.990   18.75          679,909.60                   90035
 646    86.88    86.88    6.200   48.69          404,000.00                   94565
 668    80.00    80.00    7.825   25.18           71,899.57                   23185
 656    84.13    84.13    6.250   36.99          319,700.00                   90804
 526    46.55    46.55    8.600   32.01          134,934.85                   93535
 607    80.00    80.00    7.150   36.92          254,213.63                   33312
 747    95.00    95.00   10.600   42.38          150,931.99                   33142
 614    90.00    90.00   10.875   17.68          102,974.14                   83814
 697    80.00    80.00    7.775   53.09          238,400.00                   30022
 638    95.00    95.00    9.950   43.46          498,589.19                   07103
 638    80.00    80.00    8.475   36.62          743,439.32                   95148
 726    80.00    80.00    6.575   43.41          356,000.00                   96792
 616    80.00    80.00    6.900   49.33          225,600.00                   89123
 679    95.00    95.00   10.900   42.36          229,731.68                   92509
 629    80.00    80.00    6.975   47.77          328,308.80                   08527
 633    80.00    80.00    8.475   40.86          180,898.64                   53066
 613    83.63    83.63    9.550   45.32          189,000.00                   32246
 606    90.00    90.00    8.650   50.60          314,760.23                   55054
 608    80.00    80.00    7.960   45.67          447,960.00                   60107
 634    80.00    80.00    8.425   35.95           69,274.35                   17721
 648    80.00    80.00    8.475   43.79          130,477.99                   32763
 610    80.00    80.00    9.991   34.31          214,331.71                   96150
 574    77.67    77.67    9.500   40.66          399,604.94                   07305
 549    60.06    60.06    7.950   50.30          199,727.98                   98203
 724    80.00    80.00    7.925   44.19          176,089.95                   75094
 610    80.00    80.00    6.975   48.67          216,000.00                   85022
 758    80.00    80.00    7.675   45.59          240,000.00                   92582
 570    50.00    50.00    8.625   42.86          144,828.16                   93313
 615    68.39    68.39    7.550   50.03          105,843.74                   93545
 724    80.00    80.00    7.125   44.65          179,067.79                   06243
 632    80.00    80.00    8.500   47.63          518,000.00                   90027
 537    75.00    75.00    9.125   46.72          129,605.99                   08088
 691    80.00    80.00    6.625   41.46          192,000.00                   89128
 638    90.00    90.00    7.800   40.50          502,947.32                   91709
 544    69.39    69.39    8.250   44.14          339,818.22                   91303
 668    14.63    14.63    6.625   40.95          149,734.58                   96790
 619    90.00    90.00    9.925   41.20           94,484.70                   33713
 725    80.00    80.00    7.525   45.13           59,911.10                   13501
 640    80.00    80.00    7.250   29.16          719,487.18                   33062
 636    90.00    90.00    7.700   34.20          544,500.00                   96732
 534    40.27    40.27    7.900   28.93          119,929.01                   93306
 702    80.00    80.00    9.025   40.18          195,008.94                   85236
 652    95.00    95.00    8.600    8.42           57,880.97                   38109
 624    90.00    90.00   10.250   46.00          188,944.37                   81007
 623    90.00    90.00    7.600   34.66          265,328.80                   32128
 632    85.00    85.00    8.650   28.54          171,659.32                   34608
 596    80.00    80.00    9.250   39.73          110,604.75                   54956
 660    90.00    90.00    8.150   46.17          427,382.75                   06810
 562    80.00    80.00    8.850   48.90          282,080.53                   90220
 583    80.00    80.00   10.450   26.48          159,870.89                   60626
 702    80.00    80.00    7.975   41.48          119,837.60                   48108
 654    90.00    90.00    7.750   49.50          401,276.42                   94591
 698    90.00    90.00    9.750   30.43          282,335.22                   92345
 629    95.00    95.00    9.650   48.85          432,250.00                   92325
 614    80.00    80.00    6.750   48.79          300,000.00                   02124
 507    60.57    60.57    8.750   36.06          105,975.61                   33870
 636    77.42    77.42    6.850   41.24          240,000.00                   04917
 677    82.87    82.87    7.150   40.75          299,521.12                   93550
 599    80.00    80.00    8.650   39.41           50,340.57                   19140
 558    77.68    77.68    7.550   26.22          267,803.09                   07502
 539    55.82    55.82    7.950   42.62          306,820.96                   92126
 704    80.00    80.00    9.175   36.12          176,000.00                   33971
 536    70.00    70.00   11.350   30.41          216,954.54                   80435
 636    90.00    90.00    8.600   47.96          165,600.00                   30628
 777    80.00    80.00    6.425   35.40          368,000.00                   94603
 716    90.00    90.00    9.675   45.45           51,272.93                   63130
 685    50.43    50.43    8.450   47.62          115,941.48                   95966
 572    79.77    79.77    8.000   54.99          279,919.79                   82009
 611    80.00    80.00    8.450   31.35          111,862.41                   37865
 683    80.00    80.00    7.550   41.02          396,000.00                   90745
 624    84.91    84.91    7.990   43.72          512,000.00                   92880
 629    51.10    51.10    7.575   45.90          232,000.00                   20001
 518    80.00    80.00    8.965   36.30           91,898.38                   79936
 621    90.00    90.00    8.550   48.59          192,553.01                   61088
 606    94.29    94.29    7.990   49.07          165,000.00                   80011
 661    80.00    80.00    7.925   47.37          399,765.04                   92173
 658    80.00    80.00    6.425   42.76          352,000.00                   95776
 583    75.00    75.00    8.900   37.90          194,891.24                   16127
 703    95.00    95.00    9.225   49.25          265,839.34                   60621
 680    80.00    80.00    8.125   42.78          285,600.00                   93534
 655    80.00    80.00    7.725   41.62          151,905.42                   80909
 514    60.00    60.00    9.350   42.08          272,894.52                   85254
 741    80.00    80.00    8.950   37.63          365,458.30                   96738
 555    69.51    69.51    7.990   46.62          439,873.59                   33155
 603    90.00    90.00    8.100   43.16          130,327.81                   32533
 631    95.00    95.00    9.300   33.63          261,147.54                   08332
 725    80.00    80.00    7.775   47.29          451,722.77                   91303
 589    80.00    80.00    8.990   46.34           79,965.58                   41073
 638    90.00    90.00   10.600   24.90          117,807.87                   83316
 661    80.00    80.00    7.525   46.10          224,000.00                   90016
 649    80.00    80.00    7.500   43.92          312,584.45                   92236
 630    95.00    95.00    8.990   47.13          389,071.99                   91724
 645    89.61    89.61    9.050   45.47          206,775.35                   55316
 642    80.00    80.00    6.925   56.23          311,756.50                   01906
 663    90.00    90.00    9.750   40.23          107,898.81                   53209
 607    80.00    80.00   10.410   47.99          499,859.87                   91202
 655    80.00    80.00    7.975   36.24          534,475.72                   22041
 671    80.00    80.00    7.825   46.30          143,799.13                   85009
 709    80.00    80.00    7.525   38.41          283,812.91                   93455
 616    95.00    95.00    8.025   44.08          264,335.07                   04092
 629    90.00    90.00    9.875   44.85          346,443.09                   96815
 585    80.00    80.00    7.990   37.94          323,813.22                   92845
 658    80.00    80.00    9.225   41.92          155,836.78                   55959
 519    80.00    80.00   10.300   46.09          250,990.67                   33068
 527    68.03    68.03    9.725   49.97          299,574.44                   02045
 603    80.00    80.00    7.750   41.43          659,592.29                   93103
 701    80.00    80.00    7.775   52.76          279,028.75                   95838
 602    80.00    80.00    7.475   31.57           98,800.00                   29541
 746    95.00    95.00    8.050   46.65          200,207.46                   19606
 796    90.00    90.00    9.825   41.94           95,312.02                   29646
 694    80.00    80.00    8.000   49.85          222,899.46                   33510
 745    95.00    95.00    9.850   37.93          104,404.13                   77539
 609    90.00    90.00    9.550   31.15           59,749.17                   53223
 641    83.05    83.05    6.500   39.14          244,892.71                   93305
 622    95.00    95.00    8.250   39.07          460,750.00                   92883
 534    70.00    70.00   10.200   42.50          128,061.72                   85035
 566    73.46    73.46   10.150   35.37          297,455.05                   59901
 691    87.47    87.47    8.150   42.34          124,965.71                   02324
 706    80.00    80.00    7.425   44.83          162,154.54                   96777
 606    80.00    80.00    7.925   33.24           67,323.83                   78626
 592    78.01    78.01    6.900   43.09          109,956.90                   19136
 618    84.76    84.76    8.250   41.54          208,500.00                   89110
 646    48.72    48.72    6.775   38.86           94,836.75                   38002
 684    80.34    80.34    8.200   24.27          187,756.95                   89104
 682    95.00    95.00    7.950   47.61          266,000.00                   92227
 744    80.00    80.00    9.350   49.11          771,329.88                   91326
 649    95.00    95.00    8.500   28.37           80,730.00                   46408
 507    80.00    80.00   10.875   37.38           52,793.61                   38111
 601    75.00    75.00    8.600   51.24          337,337.12                   92316
 600    80.00    80.00    8.475   48.47          145,527.10                   48603
 653    80.00    80.00    8.575   46.64          128,000.00                   44129
 551    46.67    46.67    9.650   31.63          139,950.57                   32822
 662    80.00    80.00    8.575   49.00          195,200.00                   97756
 638    80.00    80.00    7.900   35.06          107,968.15                   01109
 716    80.00    80.00    7.025   25.93          111,472.00                   78653
 626    80.00    80.00    6.975   28.68          140,745.98                   34473
 754    95.00    95.00   10.650   40.63          246,809.09                   02723
 602    65.00    65.00    9.650   51.85          331,323.73                   84060
 617    90.00    90.00   10.500   38.90           89,136.21                   24236
 617    59.52    59.52    7.325   45.72          125,000.00                   33186
 602    95.00    95.00    7.850   48.32          199,380.25                   80817
 716    80.00    80.00    8.175   37.17          342,400.00                   94565
 627    80.00    80.00    7.250   40.90          439,920.00                   92707
 715    80.00    80.00    8.850   43.75          179,919.28                   02907
 600    80.00    80.00    6.525   50.81          375,920.00                   89130
 557    56.00    56.00    8.975   28.52           69,922.84                   82901
 555    80.00    80.00    9.175   37.73          145,446.04                   48463
 647    95.00    95.00    7.275   52.47          389,085.51                   89138
 519    75.00    75.00    9.750   46.09          128,933.42                   60617
 619    80.00    80.00    7.475   50.00          119,919.81                   84104
 522    69.88    69.88    8.450   42.91          254,943.37                   92376
 600    80.00    80.00    7.775   49.51          400,000.00                   93312
 632    90.00    90.00    8.725   53.93          186,083.73                   60014
 609    95.00    95.00    8.650   39.71          294,430.22                   93534
 604    80.00    80.00    8.400   21.49           59,925.52                   78242
 630    80.00    80.00    8.575   43.19          187,954.46                   60643
 734    80.00    80.00    7.100   47.57          503,905.71                   11436
 628    80.00    80.00    9.275   19.44          103,899.55                   33916
 690    70.00    70.00    7.450   50.04          353,142.04                   11001
 645    89.62    89.62    8.900   46.66          284,357.09                   60629
 622    95.00    95.00    7.250   44.34           98,645.37                   18102
 750    80.00    80.00    7.525   42.83          215,857.70                   92111
 595    80.00    80.00    7.650   28.85          135,956.91                   33016
 649    95.00    95.00    9.138   29.67          106,286.62                   75227
 605    80.00    80.00    7.425   44.07          272,000.00                   45066
 585    69.92    69.92   11.250   46.67          329,432.39                   92506
 655    80.00    80.00    8.175   46.44          222,909.96                   02571
 523    64.52    64.52   10.075   52.67           99,868.29                   75766
 636    80.00    80.00    7.990   45.30          260,000.00                   91910
 583    80.00    80.00    8.950   57.79          115,806.47                   34234
 690    90.00    90.00    8.200   44.95           96,175.50                   44095
 523    75.00    75.00    9.425   48.59          408,339.88                   94531
 730    80.00    80.00    7.925   39.11          104,648.74                   77085
 787    80.00    80.00    7.875   38.28           88,917.03                   18201
 600    80.00    80.00    7.550   39.94          313,341.81                   12528
 605    90.00    90.00    8.925   43.25          159,265.20                   34609
 529    65.00    65.00    9.550   30.40          279,346.85                   89123
 591    80.00    80.00    8.500   43.11           64,369.64                   14226
 658    80.00    80.00    9.125   45.95          463,104.66                   90249
 705    80.00    80.00    7.775   51.45          247,650.56                   93637
 664    90.00    90.00    7.400   32.51          157,260.76                   60120
 619    22.64    22.64    7.750   39.06          120,000.00                   90018
 584    73.23    73.23    9.400   49.81           92,964.60                   85349
 606    85.00    85.00    7.600   41.57          364,650.00                   21030
 506    59.66    59.66    8.700   54.95          199,756.35                   95379
 627    80.00    80.00    7.175   40.95          432,000.00                   94520
 648    80.00    80.00   10.100   48.37          195,829.52                   03905
 554    80.00    80.00    7.825   44.46          175,946.97                   33169
 679    80.00    80.00    8.650   36.50          154,138.05                   77706
 753    80.00    80.00    9.125   41.76          327,864.46                   92108
 789    80.00    80.00    7.990   46.08          391,920.00                   93030
 602    90.00    90.00    9.825   36.15           63,889.34                   79930
 647    59.25    59.25    6.500   48.01          252,777.81                   85018
 590    57.02    57.02    9.725   48.07           64,938.77                   45613
 507    80.00    80.00    8.950   44.22          227,900.75                   83642
 620    80.00    80.00    7.775   49.30          480,000.00                   96756
 515    80.00    80.00   10.000   49.19          147,976.59                   07050
 654    57.99    57.99    6.825   26.50          225,000.00                   94591
 538    75.00    75.00    9.300   54.31          123,725.82                   33541
 628    74.95    74.95    7.625   35.63          988,616.63                   07656
 643    80.00    80.00    8.075   26.19          218,909.31                   97501
 613    80.00    80.00    6.500   46.34          128,000.00                   05360
 579    63.33    63.33    7.500   46.64           94,929.49                   53223
 586    80.00    80.00    9.700   46.71          163,971.60                   89015
 531    80.00    80.00    8.300   20.72          165,468.66                   01089
 774    86.09    86.09    7.100   25.73          495,000.00                   90745
 651    95.00    95.00    9.500   26.33          360,866.65                   95203
 528    70.13    70.13    6.650   42.75          269,886.57                   95348
 606    80.00    80.00    7.325   39.95          121,506.54                   30122
 565    59.00    59.00    7.425   30.62          265,098.72                   98042
 738    80.00    80.00    7.675   41.27          270,160.00                   95829
 502    75.00    75.00   11.100   27.72           85,814.79                   77539
 637    90.00    90.00    9.450   41.07          269,898.76                   84337
 771    85.00    85.00    7.850   38.28          100,160.78                   31558
 814    90.00    90.00    7.375   48.38          118,759.29                   84713
 547    80.00    80.00   10.100   37.74          153,552.68                   80229
 624    90.00    90.00    7.990   47.02          494,714.64                   85212
 542    80.00    80.00    8.415   32.65          171,679.64                   46268
 605    90.00    90.00    8.800   48.01          342,000.00                   95631
 635    80.00    80.00    7.775   39.57           59,872.76                   40215
 610    80.00    80.00    6.425   49.04          111,100.30                   61115
 597    80.00    80.00    8.838   46.67           95,891.12                   15714
 687    80.00    80.00    7.725   47.29          408,945.39                   91945
 605    80.00    80.00    8.675   36.42          122,256.42                   37660
 602    69.83    69.83    7.100   54.32          202,337.26                   33527
 630    90.00    90.00    8.775   13.62          161,723.98                   93274
 771    80.00    80.00    7.400   48.35          500,169.75                   96707
 628    95.00    95.00   10.050   54.07          223,134.18                   60914
 741    85.00    85.00    8.675   47.84          129,897.46                   77346
 634    89.68    89.68    7.900   35.00          277,618.04                   04084
 505    80.00    80.00   11.300   40.05           67,954.37                   31206
 628    80.00    80.00    7.175   57.71          272,000.00                   89130
 692    80.00    80.00    7.925   47.30          251,851.97                   95210
 662    80.00    80.00    8.275   44.26          239,536.63                   95628
 789    80.00    80.00    7.475   43.58          281,411.82                   98371
 610    84.42    84.42    9.000   17.71          219,500.00                   33909
 749    95.00    95.00    8.300   48.77          165,212.89                   15009
 666    90.00    90.00    8.850   18.46          129,379.26                   48221
 628    78.43    78.43    8.175   41.77          200,000.00                   97501
 567    80.00    80.00    8.990   40.79          539,884.30                   91344
 606    80.00    80.00    7.000   55.00          384,000.00                   95758
 546    80.00    80.00    7.990   48.03          126,170.21                   77388
 614    80.00    80.00    7.925   45.25          130,710.89                   60538
 636    85.00    85.00    9.250   42.21           50,920.06                   46617
 610    95.00    95.00    9.500   46.12          101,631.30                   60617
 737    80.00    80.00    7.525   43.06          184,635.35                   34769
 550    80.00    80.00   10.600   36.47          111,170.60                   31907
 507    75.00    75.00   10.900   46.77          149,963.84                   20746
 608    95.00    95.00    9.525   48.15          147,168.68                   01129
 610    80.00    80.00    8.575   52.93          193,611.44                   33909
 589    80.00    80.00    6.350   40.10          285,600.00                   94801
 609    80.00    80.00    8.775   46.17          267,920.00                   92201
 637    73.68    73.68    6.800   49.88          210,000.00                   40206
 641    80.00    80.00    7.875   43.30          319,904.96                   11429
 636    69.91    69.91    9.000   28.97          157,932.23                   34743
 658    80.00    80.00    7.925    0.00          276,720.00                   92701
 646    80.00    80.00    7.990   45.37          207,080.54                   85021
 631    90.00    90.00    7.050   48.91          468,000.00                   33190
 636    80.00    80.00    8.950   36.59          131,054.63                   79902
 718    95.00    95.00    9.400   28.04          474,909.95                   90242
 628    80.00    80.00    7.125   44.11          439,675.36                   02124
 642    70.97    70.97    6.400   32.59          219,801.42                   98664
 682    90.00    90.00   10.075   39.58          147,568.18                   33033
 613    80.00    80.00   10.200   51.25           79,610.61                   97223
 536    56.82    56.82   10.088   24.02          124,980.75                   55957
 567    80.00    80.00   10.550   26.83          147,980.22                   48423
 500    70.91    70.91   10.650   48.23          155,959.38                   55422
 604    90.00    90.00    7.800   49.69          355,392.11                   97341
 604    95.00    95.00    8.950   24.14          124,423.01                   68506
 621    80.00    80.00    7.525   45.41          279,815.53                   91744
 650    78.95    78.95    8.390   56.48          749,405.93                   91436
 605    25.14    25.14    8.725   32.38          109,872.30                   92102
 617    90.00    90.00    9.125   48.90          233,875.47                   33903
 601    85.00    85.00    8.175   41.14          390,786.37                   11801
 656    69.93    69.93    8.288   46.08           99,873.02                   97477
 660    90.00    90.00    7.590   34.15          224,781.05                   01588
 550    80.00    80.00    8.625   49.49          207,950.35                   06385
 625    95.00    95.00   11.000   35.63           70,291.82                   38583
 662    95.00    95.00    8.150   48.83          394,033.01                   33455
 588    80.00    80.00    8.000   47.83          492,136.46                   72227
 676    62.06    62.06    6.990   46.61          314,000.00                   91335
 594    80.00    80.00    8.250   45.61          112,769.95                   01104
 524    60.00    60.00   11.425   51.17          164,966.21                   34113
 594    80.00    80.00    7.890   32.79          129,421.58                   31322
 587    80.00    80.00    7.450   40.10          152,570.22                   32738
 533    80.00    80.00    8.800   33.30           76,667.82                   75061
 673    80.00    80.00    8.125   41.46          240,583.76                   30349
 732    80.00    80.00    9.250   47.59          675,594.78                   91739
 613    90.00    90.00    8.400   53.91          134,930.90                   21550
 583    78.79    78.79   10.750   40.88           51,920.59                   68111
 625    80.00    80.00    7.550   35.59          180,932.88                   97236
 645    80.00    80.00    8.400   28.22          144,000.00                   48127
 715    80.00    80.00    7.425   49.30          246,400.00                   21061
 515    80.00    80.00   10.650   43.73           83,967.04                   53208
 661    95.00    95.00    9.925   49.27          351,327.97                   92583
 633    95.00    95.00    8.950   42.22          289,428.95                   19352
 677    95.00    95.00    9.550   39.63          234,420.66                   03280
 673    86.36    86.36    9.150   53.11          475,000.00                   02150
 693    80.00    80.00    8.125   41.63          130,947.86                   30083
 657    80.00    80.00    8.250   44.61          356,510.91                   92563
 626    79.89    79.89    8.999   31.13          148,918.59                   89147
 567    85.00    85.00    9.699   41.71          127,379.25                   63108
 759    80.00    80.00    7.875   41.41          447,866.95                   11234
 645    56.93    56.93    7.899   43.14          114,841.96                   32822
 633    73.23    73.23    9.499   28.16           54,897.98                   35673
 639    61.11    61.11    7.875   47.77          274,620.23                   07109
 636    80.00    80.00    8.500   44.36          231,717.91                   60632
 663    80.00    80.00    7.750   41.30          307,563.83                   11726
 707    80.00    80.00    6.725   44.42          127,665.89                   01453
 605    85.00    85.00    8.625   46.15          400,350.00                   02364
 575    78.10    78.10    6.990   42.20          410,000.00                   10954
 634    80.00    80.00    7.990   43.63          319,015.99                   11901
 689    80.00    80.00    7.990   41.85          194,400.00                   32738
 662    80.00    80.00    8.650   45.49           95,144.08                   60194
 528    80.00    80.00    7.990   38.59          198,111.19                   98325
 503    85.00    85.00    9.750   45.12          182,687.39                   98591
 507    85.00    85.00    9.700   22.12          445,827.45                   92253
 782    80.00    80.00    6.250   31.78          650,759.48                   10465
 674    80.00    80.00    8.750   34.70          141,867.88                   93257
 709    75.95    75.95    7.890   47.82          174,759.07                   13426
 660    80.00    80.00    7.900   45.83          155,907.70                   85345
 761    80.00    80.00    7.750   44.16          180,000.00                   85338
 588    80.00    80.00    9.125   49.93          107,085.46                   76110
 614    81.20    81.20    9.750   32.96          107,898.81                   78418
 572    85.00    85.00    9.500   40.98           49,275.74                   17952
 554    80.00    80.00    9.999   44.61          131,958.07                   60552
 597    80.00    80.00    8.500   27.58          171,914.50                   85635
 515    75.00    75.00   10.500   40.66          232,220.39                   85239
 532    80.00    80.00    8.275   42.62          123,842.10                   75173
 516    80.00    80.00    9.250   43.79           58,308.45                   76240
 646    72.73    72.73    7.490   40.70          359,760.45                   92509
 536    85.00    85.00   11.200   28.95          114,710.83                   31909
 641    80.00    80.00    8.625   44.20          203,951.31                   60804
 635    85.00    85.00    9.999   38.23          148,654.70                   97005
 643    52.93    52.93    5.700   46.87          306,900.00                   90242
 530    85.00    85.00    8.990   39.90          356,846.44                   60423
 639    80.00    80.00    8.375   44.34          207,740.51                   33032
 638    78.00    78.00    7.875   43.21          116,965.25                   60406
 579    80.00    80.00    9.160   31.24           71,110.34                   49829
 618    31.37    31.37    6.990   54.48          257,052.85                   11373
 669    58.57    58.57    6.400   44.93          409,629.89                   10308
 585    70.00    70.00    8.785   44.14          149,765.89                   33193
 560    80.00    80.00    8.375   16.07           75,905.18                   49868
 507    61.54    61.54    9.250   18.81           31,932.86                   19132
 664    80.00    80.00   10.875   43.26           76,216.48                   13208
 563    80.00    80.00    9.699   36.49           51,950.74                   77520
 504    80.00    80.00    9.625   46.72           91,067.85                   46342
 566    85.00    85.00    9.490   42.46          229,457.65                   60473
 520    73.96    73.96   10.799   40.15           70,919.94                   78950
 585    80.00    80.00    8.990   46.30          291,810.90                   89117
 546    75.00    75.00    9.990   44.26          224,799.66                   60637
 544    85.00    85.00   10.375   43.21          134,261.95                   97338
 554    80.00    80.00    9.950   17.48           55,949.70                   75803
 530    77.00    77.00    9.500   46.78          172,817.11                   77968
 506    57.14    57.14    9.350   29.56           71,926.60                   32205
 634    85.00    85.00    8.990   44.39          329,658.13                   06787
 662    80.00    80.00    7.790   46.95          171,758.37                   11368
 699    80.00    80.00    7.625   45.13          165,493.96                   98801
 758    69.35    69.35    6.990   44.59          588,039.04                   11368
 761    80.00    80.00    7.640   42.65          519,353.01                   60645
 655    80.00    80.00    8.990   38.98          214,261.15                   93263
 509    80.00    80.00    9.399   38.69          159,838.57                   75035
 785    80.00    80.00    7.990   40.22          200,254.55                   12561
 533    33.91    33.91    8.625   37.15          116,861.34                   33408
 645    80.00    80.00    9.250   42.49          176,000.00                   85037
 665    80.00    80.00    7.660   39.06          209,297.75                   60402
 675    80.00    80.00    7.990   42.35          228,734.27                   80249
 534    80.00    80.00    8.800   32.86          127,927.11                   98645
 631    80.00    80.00    8.675   42.25           84,695.68                   77087
 637    80.00    80.00    8.350   25.10          111,941.82                   80239
 669    80.00    80.00    7.990   44.37          339,309.63                   08520
 642    79.79    79.79    7.545   36.05          374,754.36                   11236
 574    48.16    48.16    8.755   41.79          247,713.87                   11203
 644    80.00    80.00    8.590   43.40          287,860.58                   33177
 597    80.00    80.00    9.250   48.22          303,124.15                   85379
 658    80.00    80.00    7.990   43.88          356,640.00                   11420
 507    69.07    69.07    9.250   45.51          148,470.55                   60188
 683    85.00    85.00    9.875   46.42          153,374.39                   83642
 563    54.70    54.70    9.625   44.71          275,984.25                   10526
 631    80.00    80.00    9.250   40.58           97,498.40                   12921
 651    80.00    80.00    7.375   39.39          423,708.49                   91910
 687    76.45    76.45    7.900   42.60          249,656.50                   95822
 509    85.00    85.00   10.375   19.21          110,363.48                   39819
 546    75.00    75.00   11.875   39.13           76,454.76                   19139
 545    85.00    85.00    9.750   24.88           93,327.48                   19143
 700    80.00    80.00    7.500   41.76          180,000.00                   97217
 522    85.00    85.00    9.990   41.99          286,312.56                   95828
 504    71.34    71.34    8.550   39.49          233,718.38                   19446
 675    75.19    75.19    7.990   44.16          199,826.46                   12523
 688    79.91    79.91    8.500   42.30          374,000.00                   20707
 690    80.00    80.00    7.400   41.93          131,799.48                   30324
 651    80.00    80.00    8.990   38.48           91,469.90                   14004
 678    80.00    80.00    7.990   39.89          440,000.00                   90016
 620    80.00    80.00    7.990   35.81          143,875.06                   97303
 566    65.00    65.00    8.990   44.89          152,582.14                   19701
 690    79.72    79.72    7.800   42.05          207,073.83                   60621
 505    84.80    84.80    9.660   50.56          105,847.55                   30620
 507    75.00    75.00    8.750   54.80          498,402.71                   07747
 587    84.84    84.84    8.950   43.75          402,553.46                   07071
 600    85.00    85.00    9.990   48.05          121,511.27                   60643
 659    27.78    27.78    7.375   43.85           99,847.34                   11701
 711    41.90    41.90    6.300   40.27          220,000.00                   93905
 703    80.00    80.00    7.999   44.79          143,878.76                   60618
 611    80.00    80.00    8.759   42.06          119,791.73                   49221
 733    80.00    80.00    7.390   39.59          167,991.56                   12202
 511    85.00    85.00    9.990   49.42          190,993.50                   93230
 740    80.00    80.00    7.625   38.63          400,000.00                   94577
 597    85.00    85.00    8.250   40.48          123,848.57                   13090
 545    53.11    53.11    7.999   39.67          204,882.12                   02882
 577    80.00    80.00   10.700   47.97          111,956.74                   44130
 694    80.00    80.00    6.890   44.24          407,516.30                   11003
 583    78.13    78.13    8.750   31.60           49,591.32                   79764
 650    85.00    85.00    8.500   44.24          203,776.90                   01082
 601    85.00    85.00    8.750   36.16          271,150.00                   10940
 519    60.00    60.00    8.999   31.10           86,962.68                   66614
 603    80.00    80.00    8.625   48.92          377,818.90                   98258
 612    80.00    80.00    7.625   49.81          267,741.80                   33193
 675    85.00    85.00   10.250   41.17           50,935.27                   35211
 512    56.52    56.52    9.500   22.20           64,816.66                   36541
 619    54.54    54.54    7.750   33.23          244,824.60                   92587
 653    80.00    80.00    9.000   42.23           98,913.94                   12701
 668    80.00    80.00    7.375   44.65          239,633.62                   60563
 576    83.33    83.33    9.375   39.40           49,871.75                   40965
 703    80.00    80.00    7.500   41.73          318,000.00                   11722
 606    64.00    64.00    8.125   46.17          105,530.92                   60632
 521    69.33    69.33   10.500   48.29          259,687.29                   60053
 652    80.00    80.00    7.990   48.42          383,481.92                   10453
 625    82.26    82.26    8.990   31.62          509,780.64                   90011
 622    81.15    81.15    8.990   39.39          247,228.02                   61068
 713    70.00    70.00    7.500   40.37          314,530.98                   06471
 663    81.94    81.94    8.000   43.41          235,682.23                   08520
 611    80.00    80.00    8.499   44.96          107,868.64                   46226
 652    80.00    80.00    7.800   45.20          135,809.32                   60406
 508    80.00    80.00    9.490   47.04          259,742.66                   98498
 505    80.00    80.00   10.990   41.16          141,533.01                   64012
 529    61.64    61.64   10.400   36.70           71,441.69                   48422
 503    84.34    84.34   10.199   28.45           63,593.28                   79549
 641    80.00    80.00    8.250   42.84          251,865.28                   95991
 564    63.33    63.33    8.250   43.21          569,848.15                   85258
 615    80.00    80.00    8.600   54.83          339,835.91                   02702
 511    85.00    85.00    9.999   23.20          150,316.29                   49058
 565    85.00    85.00    8.990   36.71           93,345.31                   97386
 608    83.00    83.00    7.375   43.85          203,210.18                   23831
 643    80.00    80.00    7.350   54.31          240,000.00                   34787
 645    78.46    78.46    9.250   40.67          101,938.84                   85007
 675    80.00    80.00    8.375   44.06          141,926.79                   33020
 664    80.00    80.00    7.890   43.34          307,724.96                   60639
 626    85.00    85.00    7.490   41.00          339,659.60                   11706
 628    80.00    80.00    9.250   40.50          203,877.71                   95210
 641    80.00    80.00    9.350   42.73          110,196.26                   77035
 573    69.23    69.23    9.999   41.30          359,769.34                   60068
 684    80.00    80.00    8.500   44.73          117,457.00                   13044
 645    80.00    80.00    7.999   43.53          223,698.33                   60619
 520    80.00    80.00   12.530   37.15           35,990.84                   79745
 533    79.81    79.81    8.759   37.00           84,902.00                   32680
 532    85.00    85.00   10.990   49.81          128,964.87                   15352
 523    40.00    40.00    8.900   25.69          191,676.34                   10970
 701    82.11    82.11    6.999   44.32          156,000.00                   85301
 693    80.00    80.00    7.750   43.65          278,852.80                   89108
 552    73.03    73.03    7.990   33.09          142,317.90                   32822
 661    49.38    49.38    8.125   44.58          399,474.92                   11366
 700    80.00    80.00    8.625   47.94          578,965.28                   10469
 532    73.47    73.47    9.625   40.91          179,935.96                   34759
 636    80.00    80.00    9.250   43.31           47,924.75                   37186
 733    80.00    80.00    6.875   44.66          569,149.22                   11414
 508    81.23    81.23    9.550   51.40          125,858.19                   43123
 673    80.00    80.00    7.125   41.89          376,000.00                   92027
 539    75.00    75.00    8.375   43.92          374,806.68                   01876
 709    85.00    85.00    7.999   43.41          220,702.37                   60632
 712    80.00    80.00    7.650   39.37          210,266.23                   85051
 605    80.00    80.00    7.999   44.32          287,416.26                   22542
 531    85.00    85.00    9.750   42.60          196,282.73                   85207
 670    80.00    80.00    8.490   14.15          295,639.35                   64836
 530    48.39    48.39    9.990   35.12          224,799.66                   30189
 503    55.56    55.56    7.625   43.25           74,891.08                   34946
 504    72.73    72.73    8.990   43.70          159,824.18                   06001
 517    85.00    85.00   10.999   37.79           97,679.94                   66048
 541    46.91    46.91    8.850   30.52           37,965.67                   72956
 646    85.00    85.00    8.499   44.58          271,502.03                   50054
 508    75.00    75.00    7.999   41.33          112,348.49                   32114
 705    80.00    80.00    6.990   40.07          141,366.72                   70130
 676    77.08    77.08    8.250   44.70          184,512.77                   33801
 550    85.00    85.00   10.950   41.07          237,971.89                   06002
 629    84.00    84.00    7.820   40.28           75,494.44                   04462
 502    85.00    85.00    9.999   38.76          280,250.72                   85387
 614    82.11    82.11    9.870   27.30           77,928.75                   47805
 555    80.00    80.00    9.650   46.06           80,323.05                   77080
 644    80.00    80.00    8.490   43.20          335,916.55                   20853
 520    80.00    80.00   10.990   48.38          211,985.09                   85353
 622    80.00    80.00    9.990   53.67          237,924.19                   06053
 687    80.00    80.00    8.250   43.09          388,749.66                   95206
 663    75.00    75.00    9.240   35.64          163,329.47                   85037
 518    82.61    82.61    9.500   45.85           75,924.94                   35810
 565    63.75    63.75    8.990   44.38          152,831.86                   66104
 623    56.60    56.60    8.990   28.74          149,835.16                   20020
 523    80.00    80.00    9.500   49.52           99,963.05                   98563
 633    85.00    85.00    8.750   37.40          206,190.88                   30735
 501    68.15    68.15    8.990   34.80           91,940.35                   34482
 508    70.00    70.00    9.999   37.70          216,807.16                   66109
 602    80.00    80.00    8.990   42.87          113,551.12                   60628
 593    80.00    80.00   12.999   42.33           55,974.24                   14214
 631    85.00    85.00    8.990   32.29          139,939.44                   83854
 587    79.25    79.25    8.999   35.28          153,684.05                   85031
 508    80.00    80.00    9.550   39.71          333,478.62                   85323
 510    80.00    80.00    9.750   36.85           75,093.87                   50316
 647    85.00    85.00    9.990   45.79          475,576.18                   60625
 657    76.92    76.92    8.250   42.36          249,518.44                   60639
 698    80.00    80.00    7.250   44.75          507,455.61                   11233
 502    75.00    75.00    9.750   46.28          114,730.42                   32244
 672    80.00    80.00    8.375   44.17           87,945.30                   19120
 585    84.97    84.97    9.250   53.65          134,744.34                   34748
 676    80.00    80.00    8.990   44.58          215,642.62                   03054
 600    80.00    80.00    8.990   44.76          339,779.80                   90670
 586    80.00    80.00    8.375   35.68          206,200.60                   01077
 508    85.00    85.00    9.800   35.19          186,826.65                   43209
 685    80.00    80.00    6.990   47.41          359,506.79                   11552
 506    80.00    80.00   10.990   36.47          167,762.73                   85501
 517    85.00    85.00    9.490   52.29          227,457.35                   23223
 504    85.00    85.00    7.999   46.99          174,015.32                   33409
 520    85.00    85.00    9.600   48.53          122,341.05                   34946
 624    80.00    80.00    7.590   38.01          535,188.00                   10804
 605    85.00    85.00    8.250   51.21          203,607.04                   33168
 579    80.00    80.00    9.770   43.28          302,138.69                   07204
 731    34.04    34.04    6.125   45.80          168,005.81                   11795
 658    80.00    80.00    8.175   43.07          121,441.98                   34741
 504    61.43    61.43    9.499   43.22          193,428.51                   34288
 508    61.58    61.58    8.999   17.95          467,227.16                   85242
 566    80.00    80.00    7.790   41.73          319,804.57                   12401
 525    80.00    80.00    8.999   17.97           75,874.50                   76058
 607    83.52    83.52    8.625   35.47           75,945.19                   44004
 662    80.00    80.00    8.875   44.57          251,716.40                   02145
 697    80.00    80.00    7.625   44.63          303,558.54                   12533
 596    75.00    75.00    9.250   33.80           97,449.45                   60481
 668    85.00    85.00    8.975   44.46          123,169.81                   60827
 643    80.00    80.00    7.990   32.53          186,158.34                   93611
 609    80.00    80.00    9.250   37.30          103,012.65                   60466
 585    85.00    85.00   10.200   42.24           70,397.91                   44120
 623    80.00    80.00    7.390   49.42          127,902.89                   12801
 669    80.00    80.00    6.990   48.18          166,632.00                   98660
 661    80.00    80.00    8.699   38.86          141,533.62                   60070
 502    75.00    75.00    8.850   49.50          553,251.85                   92656
 656    80.00    80.00    7.750   40.58          101,280.64                   14224
 602    50.00    50.00    7.875   38.99          164,886.44                   12601
 539    79.23    79.23    8.100   35.24          102,864.08                   35115
 521    85.00    85.00    9.990   41.65          186,940.42                   06405
 547    80.00    80.00    9.399   44.83          283,422.46                   49024
 616    80.00    80.00    8.990   45.69          186,195.17                   28270
 657    85.00    85.00    7.875   29.08          340,000.00                   92509
 666    75.00    75.00    7.990   44.62          197,325.42                   06514
 592    70.00    70.00   11.300   40.94           49,639.85                   74126
 711    31.00    31.00    6.990   44.41          154,744.65                   07087
 736    80.00    80.00    8.990   30.69           51,301.91                   38301
 598    81.30    81.30    9.250   33.64           49,947.95                   48441
 503    75.00    75.00   10.250   41.30          157,300.16                   64861
 631    80.00    80.00   10.259   34.74           57,901.63                   47381
 609    79.69    79.69    8.875   44.24          187,916.33                   19154
 631    85.00    85.00    7.990   41.19          212,357.13                   33023
 632    80.00    80.00    9.875   49.19          162,346.41                   93654
 638    83.96    83.96    7.750   47.22          177,890.03                   93263
 717    80.00    80.00    7.900   40.41          239,929.23                   60617
 542    85.00    85.00   10.259   44.94          241,943.21                   49464
 617    85.00    85.00    9.500   39.96          169,937.20                   20785
 524    75.00    75.00   10.125   42.34          153,679.20                   85033
 586    80.00    80.00    8.450   37.29          139,893.69                   01331
 672    65.00    65.00    8.125   44.73          133,162.83                   60629
 536    75.00    75.00   10.750   37.19           55,982.61                   78201
 545    54.87    54.87    8.990   31.09          106,882.42                   85044
 510    85.00    85.00    8.990   48.67          140,189.67                   16049
 703    80.00    80.00    7.990   43.73          200,000.00                   89128
 635    46.40    46.40    8.875   41.48           57,934.72                   84111
 752    80.00    80.00    7.500   40.57          155,195.73                   55421
 680    70.00    70.00    7.499   44.72          390,600.00                   60625
 716    80.00    80.00    8.590   44.49          423,794.77                   60478
 674    80.00    80.00    7.875   43.00          336,000.00                   11722
 619    80.00    80.00    7.675   47.72          303,562.95                   60451
 524    85.00    85.00   10.499   35.94           78,137.56                   16686
 509    80.88    80.88    8.415   47.38          175,410.58                   80222
 676    80.00    80.00    6.990   41.24          127,789.13                   10940
 604    85.00    85.00    9.300   34.40          106,029.41                   41083
 667    80.00    80.00    7.990   42.39          399,652.95                   07940
 752    80.00    80.00    7.300   40.76          271,712.59                   92071
 621    85.00    85.00    8.800   43.50          305,860.77                   11722
 566    85.00    85.00    9.990   45.26          113,840.45                   84104
 653    80.00    80.00    8.499   40.85          115,059.89                   60139
 569    84.90    84.90    8.750   43.22          305,967.10                   20601
 553    80.00    80.00    9.375   39.08          141,518.21                   93257
 724    80.00    80.00    6.899   44.44          325,932.45                   11722
 532    80.00    80.00    9.375   38.83          187,091.88                   33615
 684    80.00    80.00    7.850   42.96          144,888.73                   60586
 705    80.00    80.00    7.990   44.34          200,000.00                   93706
 709    80.00    80.00    8.250   43.88          367,803.25                   10457
 652    79.70    79.70    8.799   44.99          431,603.87                   15301
 645    80.00    80.00    9.000   45.00          147,936.52                   02127
 696    80.00    80.00    6.875   44.41          194,871.07                   75252
 615    85.00    85.00   10.500   44.95           76,402.43                   44049
 518    74.55    74.55    8.990    6.50          204,777.04                   01501
 588    70.00    70.00    7.999   42.87          124,346.62                   45154
 575    42.37    42.37    9.000   43.48          249,725.86                   92078
 720    80.00    80.00    7.825   44.57          209,536.85                   60542
 667    80.00    80.00    8.125   42.61          135,875.52                   93706
 514    63.19    63.19    8.950   33.19           85,157.70                   57022
 579    85.00    85.00    9.499   29.70          125,549.45                   60636
 502    85.00    85.00    8.400   42.89          195,134.76                   32211
 631    35.97    35.97    7.490   46.83          299,776.91                   10514
 520    80.00    80.00    8.999    3.33          111,877.15                   77532
 530    85.00    85.00    9.650   40.19          146,060.08                   60471
 745    80.00    80.00    7.125   46.22          101,836.37                   06614
 692    80.00    80.00    8.990   44.80          235,740.66                   12550
 610    80.00    80.00    8.890   37.71          168,610.61                   60440
 577    65.00    65.00    8.990   42.09          172,060.71                   60804
 583    80.00    80.00    7.990   46.68          251,659.99                   12571
 719    75.00    75.00   10.999   43.05          202,281.32                   07865
 545    80.00    80.00    8.600   23.82           87,043.61                   87105
 587    85.00    85.00    9.250   46.63          419,642.42                   01520
 690    80.00    80.00    7.500   43.16          193,311.74                   03303
 715    80.00    80.00    7.700   44.81          181,600.00                   98274
 608    80.00    80.00    8.250   48.85          214,045.72                   60544
 577    83.81    83.81    7.990   28.77           87,949.26                   19134
 615    80.00    80.00    7.875   44.07          139,916.57                   02720
 688    80.00    80.00    7.250   41.91          584,000.00                   95076
 648    82.41    82.41    6.875   44.26          444,999.48                   92020
 682    80.00    80.00    7.990   41.27          167,903.14                   80233
 709    80.00    80.00    7.500   43.76          174,284.28                   02920
 647    80.00    80.00    8.250   46.31          204,800.00                   33193
 565    85.00    85.00    9.500   44.76          309,943.56                   60639
 641    80.00    80.00    8.000   46.89          186,686.00                   32738
 648    45.16    45.16    8.600   10.18           34,979.22                   12901
 567    75.00    75.00    9.990   42.08          161,106.42                   85242
 611    80.00    80.00    9.259   26.13           91,105.24                   48866
 735    80.00    80.00    6.990   44.50          519,601.50                   10550
 694    80.00    80.00    7.999   43.83          158,400.00                   33618
 598    80.00    80.00   10.250   39.66           47,536.05                   36268
 622    80.00    80.00    8.250   44.92          230,338.62                   33064
 502    80.00    80.00    9.875   46.60          191,824.82                   97140
 577    45.90    45.90    8.875   47.81          139,703.16                   08722
 541    85.00    85.00    9.999   27.38          117,145.50                   30233
 680    80.00    80.00    7.875   41.82          381,372.60                   11207
 630    80.00    80.00    8.499   41.52          247,698.40                   80022
 652    80.00    80.00    9.450   41.14          192,607.57                   60653
 673    80.00    80.00    8.625   42.70          275,800.94                   92139
 526    85.00    85.00    9.500   46.48          113,730.57                   63121
 559    77.86    77.86    9.490   38.15          101,949.72                   37138
 502    75.00    75.00    9.150   54.91          189,446.32                   60123
 508    80.00    80.00    8.725   51.10          123,368.61                   76904
 640    80.00    80.00    8.820   41.67          154,330.14                   33615
 608    68.42    68.42    7.959   38.34          649,621.92                   33327
 511    85.00    85.00    8.990   40.75          127,359.89                   36863
 567    75.00    75.00    8.375   39.09          310,926.86                   95667
 529    36.50    36.50    8.500   43.94          145,963.85                   33467
 669    82.35    82.35    8.499   46.74          139,743.70                   32935
 531    85.00    85.00    8.990   38.98          311,713.19                   31757
 551    81.48    81.48    9.890   21.48           87,919.96                   51510
 549    85.00    85.00    9.250   26.52          105,345.36                   64075
 563    85.00    85.00    9.750   40.61          225,038.96                   93309
 711    80.00    80.00    6.990   46.42          396,000.00                   10466
 533    70.00    70.00   10.250   44.27          132,887.97                   12193
 574    83.59    83.59    9.250   38.56          106,935.85                   30315
 682    80.00    80.00    7.575   56.87          199,706.64                   19147
 546    82.50    82.50    8.125   44.18          164,908.53                   98405
 584    65.17    65.17    7.415   47.95           57,867.82                   36303
 588    61.55    61.55    9.637   39.85           40,512.39                   74104
 749    67.50    67.50    8.150   37.85          134,823.67                   93654
 502    79.08    79.08    8.890   41.71          154,738.18                   93230
 532    61.33    61.33    9.799   23.06           45,772.97                   79735
 521    80.00    80.00    9.750   44.93          231,782.64                   12776
 509    70.00    70.00   10.400   43.16          153,874.39                   08075
 605    52.17    52.17    8.250   43.64           59,961.74                   12822
 519    85.00    85.00    9.875   45.04           53,476.38                   38301
 647    78.69    78.69    6.625   44.69          538,046.27                   20010
 675    80.00    80.00    7.699   48.72          180,000.00                   60176
 522    80.00    80.00   10.650   31.44          131,948.21                   18334
 511    85.00    85.00    8.499   34.70          177,606.00                   18951
 651    80.00    80.00    8.500   46.00          190,305.36                   97049
 524    85.00    85.00    9.999   24.25           67,956.42                   49022
 544    85.00    85.00    9.999   22.49          112,100.28                   38340
 598    85.00    85.00    8.425   42.20          150,411.91                   85017
 636    57.14    57.14    8.999   42.48          119,948.51                   60020
 727    80.00    80.00    7.900   45.10          387,770.43                   10990
 637    80.00    80.00    7.990   46.64          111,135.88                   85223
 617    80.00    80.00    7.850   48.26          139,805.69                   43004
 650    80.00    80.00    8.000   47.35          136,670.02                   77479
 535    65.57    65.57    8.800   49.42          199,771.40                   11722
 504    80.00    80.00   10.250   41.16           91,972.91                   65066
 621    70.00    70.00    8.875   44.58           41,061.79                   30310
 527    74.57    74.57    8.699   38.43          130,270.70                   46205
 592    85.00    85.00    9.875   45.61           55,224.89                   48602
 545    58.33    58.33    7.250   37.09          244,825.49                   95703
 667    80.00    80.00    8.999   41.74          287,813.99                   60707
 617    80.00    80.00    8.500   48.05          379,537.95                   12578
 709    83.33    83.33    8.300   23.75           49,936.65                   67554
 641    85.00    85.00   10.990   45.85          167,754.46                   63118
 530    80.00    80.00    8.990   37.01          227,852.35                   97401
 660    80.00    80.00    8.350   43.14          514,678.25                   96768
 636    72.53    72.53    8.850   44.49          329,777.24                   60068
 561    85.00    85.00    8.125   34.61          344,059.13                   11704
 622    85.00    85.00    9.850   42.55          182,666.52                   33150
 502    75.00    75.00    9.990   36.81          115,448.79                   60433
 619    85.00    85.00    9.999   49.53          124,838.95                   31419
 718    80.00    80.00    7.990   40.78          207,880.09                   06114
 585    85.00    85.00    8.990   44.42          173,961.69                   60417
 652    80.00    80.00    7.250   44.60           92,000.00                   63385
 692    80.00    80.00    6.850   51.85          368,800.00                   95206
 538    78.37    78.37    9.990   43.54          206,867.18                   85037
 574    85.00    85.00    8.875   45.17          152,931.89                   80204
 540    85.00    85.00    8.625   40.95          190,793.43                   12189
 510    85.00    85.00    9.999   38.75          108,730.16                   30016
 593    41.38    41.38    7.990   44.78          179,757.13                   11221
 541    85.00    85.00    9.375   45.40           80,699.58                   33843
 647    61.20    61.20    8.375   41.05           86,641.46                   34436
 625    60.00    60.00    8.750   44.60          209,757.46                   10523
 609    80.00    80.00    8.359   46.69          119,370.41                   45150
 620    77.50    77.50    8.350   39.55          154,805.65                   77845
 549    85.00    85.00    8.999   47.23          139,501.82                   46304
 513    84.21    84.21    9.990   44.64          239,923.54                   95403
 708    80.00    80.00    6.590   50.78          178,800.00                   98445
 558    85.00    85.00    9.255   47.57          203,787.89                   62521
 533    66.72    66.72    8.499   45.82          116,929.10                   14803
 531    70.00    70.00   10.500   34.66           99,320.63                   23230
 598    66.96    66.96    9.999   43.68          153,931.86                   32164
 682    80.00    80.00    8.250   40.34          144,614.69                   83442
 525    45.59    45.59    7.600   44.53          154,900.04                   95610
 546    72.19    72.19    8.490   43.99          134,835.51                   33311
 545    75.00    75.00   10.259   33.05           50,957.11                   75751
 605    80.00    80.00    8.750   48.91          154,221.68                   89123
 611    77.19    77.19    8.375   45.58           43,861.29                   19134
 597    85.00    85.00    8.759   41.73           49,243.15                   36201
 602    80.00    80.00   11.990   33.04           34,758.67                   79088
 554    66.44    66.44    8.750   33.84          120,194.46                   85037
 632    80.00    80.00    7.350   47.93          342,400.00                   92231
 608    80.00    80.00    8.990   39.24          107,881.32                   32147
 514    85.00    85.00    9.750   49.11          116,285.67                   41005
 569    80.00    80.00    8.500   47.09          319,414.28                   13820
 533    80.00    80.00    9.400   32.16          307,689.34                   98374
 678    80.00    80.00    6.990   47.34          260,000.00                   92882
 726    80.00    80.00    7.750   40.60          207,920.00                   95205
 603    80.00    80.00   10.200   28.91           67,113.80                   12022
 638    80.00    80.00    8.250   41.21          224,000.00                   93620
 561    41.67    41.67    7.700   23.32          249,843.33                   11223
 605    80.00    80.00    7.859   44.43          331,801.24                   80920
 613    85.00    85.00    7.750   30.73          335,513.03                   10466
 548    80.00    80.00    8.990   44.72          263,563.21                   06074
 514    80.00    80.00    9.999   12.22          190,315.75                   97760
 537    72.05    72.05    9.850   25.12           49,937.25                   45896
 584    70.00    70.00    9.990   41.73          209,614.05                   32322
 520    80.00    80.00   10.250   44.76          131,938.25                   56401
 622    85.00    85.00    9.375   42.41          123,154.73                   23222
 507    61.56    61.56    8.500   37.77          114,430.63                   32068
 652    85.00    85.00    7.750   53.98          344,037.34                   07001
 596    80.00    80.00    9.500   53.76          113,558.04                   31558
 591    85.00    85.00    8.625   49.31          163,006.59                   22963
 743    80.00    80.00    8.625   46.86          127,938.66                   37916
 743    80.00    80.00    8.625   49.88          127,938.66                   37916
 743    80.00    80.00    8.625   45.84          159,923.35                   37916
 529    85.00    85.00    9.875   32.88           50,906.16                   37370
 651    81.21    81.21    7.875   42.66          121,000.00                   17201
 624    80.00    80.00    7.750   12.88          155,667.53                   14174
 611    80.00    80.00    9.100   35.01          129,248.05                   45238
 674    85.00    85.00    8.125   43.12          181,900.00                   85929
 656    85.00    85.00    8.990   36.08          205,611.52                   20747
 506    75.00    75.00   10.875   29.29          101,137.68                   30168
 725    85.00    85.00    8.750   44.84          143,567.35                   80221
 725    85.00    85.00    8.750   39.91          144,416.86                   80229
 651    80.00    80.00    8.950   35.87          123,793.12                   75149
 637    85.00    85.00    7.625   48.54          195,500.00                   33068
 589    80.00    80.00    9.990   43.90          115,948.57                   47012
 548    80.00    80.00   12.125   48.96           63,982.19                   44102
 526    85.00    85.00    8.950   46.05          121,497.08                   19802
 501    80.00    80.00    9.430   49.82          145,545.07                   98625
 574    51.28    51.28    7.250   44.51          139,780.90                   33313
 534    80.00    80.00    9.600   39.46          103,100.18                   76708
 527    69.44    69.44    8.990   24.89          124,862.65                   12205
 539    80.00    80.00    9.875   37.59          171,843.07                   03060
 501    80.00    80.00   10.999   37.16           76,425.19                   33615
 586    75.00    75.00    8.875   36.83           90,709.59                   60954
 685    80.00    80.00    7.850   37.52          136,514.25                   60617
 657    80.00    80.00    7.990   43.70          173,600.00                   92250
 670    80.00    80.00    7.990   41.47          499,538.64                   94085
 596   100.00   100.00   10.500   36.98           84,897.77                   48706
 580    20.00   100.00   13.250   54.48           25,962.96                   48640
 644    80.00    80.00    7.875   32.15          199,820.63                   60041
 743    80.00    80.00    7.500   28.08           76,627.93                   48066
 543    80.00    80.00    9.375   48.83           59,908.39                   48205
 629    80.00    80.00    9.500   35.09           99,851.28                   48837
 551    80.00    80.00    8.350   35.61          439,656.09                   48114
 598    80.00    80.00    7.990   33.14          203,724.77                   60605
 592    85.00    85.00    9.900   50.07          191,187.39                   60538
 618    20.00   100.00   11.875   49.38           51,937.90                   60453
 652    20.00   100.00   12.050   46.44           55,935.65                   60617
 580    80.00    80.00    8.500   54.48          103,729.81                   48640
 629    20.00   100.00   12.600   35.09           24,981.02                   48837
 598    20.00   100.00   12.250   33.14           50,972.25                   60605
 707    80.00    80.00    5.925   41.63          266,038.00                   89149
 525    75.00    75.00    8.625   29.05          337,338.30                   93030
 635    80.00    80.00    8.050   56.33          375,786.95                   92584
 598    80.00    80.00    8.400   45.97          114,400.00                   48204
 686    80.00    80.00    7.625   45.96          271,605.02                   55418
 627    80.00    80.00    8.675   50.00          183,600.00                   80922
 721    80.00    80.00    8.950   42.47           81,221.89                   75103
 631    90.00    90.00   10.725   33.36          183,553.28                   23188
 541    71.73    71.73    7.990   45.66          334,774.76                   21204
 622    80.00    80.00    7.250   56.45          215,923.31                   02889
 648    23.81    23.81    7.500   39.00          174,870.12                   07410
 618    90.77    90.77    7.450   49.99          213,156.45                   19054
 599    89.89    89.89    7.500   51.49          479,681.53                   11417
 523    70.00    70.00   10.500   44.29          146,941.58                   02889
 550    80.00    80.00    7.650   50.17          299,783.96                   34771
 522    54.50    54.50   11.850   24.29          108,967.76                   18360
 627    85.00    85.00    8.400   49.51          127,421.16                   32208
 637    80.00    80.00    6.990   32.33          208,000.00                   02861
 530    80.00    80.00   11.750   49.83          507,846.37                   07901
 593    80.00    80.00    9.450   39.03          252,000.00                   06770
 646    90.00    90.00    9.250   46.61          490,500.00                   10472
 622    71.08    71.08    7.700   49.92          290,000.00                   33029
 536    80.00    80.00    9.450   35.56          175,912.51                   06260
 634    84.48    84.48    7.990   43.03          244,835.27                   02909
 528    70.00    70.00   10.750   38.76          174,934.12                   02914
 590    80.00    80.00    8.550   45.03          391,904.35                   11692
 637    86.22    86.22    7.990   40.17          349,099.68                   07728
 739    88.53    88.53    8.500   45.86          300,817.65                   02895
 535    75.00    75.00    8.990   33.51          172,405.58                   06514
 727    95.00    95.00    7.650   45.83          218,342.65                   02893
 649    95.00    95.00    8.200   43.44          275,500.00                   33141
 663    90.00    90.00    8.700   43.85          215,874.43                   02860
 631    90.00    90.00   10.150   45.43           78,142.71                   60628




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                                   Eurohypo AG
                  Portfolio Stipulations For Subprime New Issue
                                    version 9

                     Can be provided in excel or text format



DESCRIPTOR                              LTV    CLTV   FICO   DTI      AOLS     % BY $   % FULL DOC   % IO   % INVESTOR  % CASHOUT
----------                             -----  ------  ----  -----  ----------  -------  ----------  ------  ----------  ---------

MI
Fixed                                  61.64   82.69   631  41.85  112,214.53   13.20%       50.05    4.37        5.07      58.24
Floating                               79.74   79.74   625  42.93  224,725.47   86.80%       39.64   21.76        6.08      51.57
ARM 2/28                               79.02   79.02   614  42.07  189,275.76   27.27%       39.42    0.00       12.10      52.89
ARM 3/27                               78.83   78.83   592  42.71  159,397.97    9.32%       51.23    0.00        4.44      66.06
ARM 5/25                               76.09   76.09   631  42.15  165,906.98    0.24%       17.81    0.00       24.23      82.41
IO (all)                               80.60   80.60   659  43.27  306,041.44   19.46%       37.24  100.00        1.10      38.41
IO ARM                                 80.70   80.70   659  43.31  305,612.44   18.89%       36.95  100.00        0.93      36.88
IO FRM                                 77.31   77.31   655  41.74  320,798.98    0.58%       46.70  100.00        6.53      88.68
IO Term 24                             79.45   79.45   606  29.07  215,700.00    0.05%       51.23  100.00        0.00      51.23
IO Term 36                             77.28   77.28   631  39.93  213,166.67    0.08%       35.65  100.00        0.00      64.35
IO Term 48
IO Term 60                             80.61   80.61   659  43.32  307,773.48   19.21%       37.04  100.00        1.11      38.33
IO Term 84
IO Term 120                            81.43   81.43   643  41.93  217,425.00    0.13%       62.10  100.00        0.00      30.45
40 yr (all)                            80.02   80.02   625  43.45  255,650.77   32.76%       39.62    0.00        4.12      55.26
40 FRM                                 78.80   78.80   627  42.76  219,780.87    1.76%       64.70    0.00        1.07      63.05
40 yr 2/38                             80.10   80.10   626  43.41  270,313.94   25.64%       37.14    0.00        4.58      53.96
40 yr 3/37                             80.00   80.00   616  43.87  212,001.75    5.36%       43.25    0.00        2.92      58.88
40 yr 5/35
prepay pen                             77.12   79.86   627  42.77  205,437.13   74.01%       40.36   21.28        5.74      51.00
PPP 1yr                                77.40   78.59   646  42.90  287,628.84    8.16%       33.11   21.84        5.99      46.34
PPP 2yr                                78.16   80.10   628  42.87  221,598.55   44.64%       38.86   23.92        5.92      47.47
PPP 3yr                                74.63   80.08   619  42.54  163,011.52   19.66%       46.34   15.54        5.08      59.49
PPP 4yr                                36.50   36.50   529  43.94  145,963.85    0.02%        0.00    0.00        0.00     100.00
PPP 5yr                                76.52   76.52   580  41.38  133,269.15    0.94%       65.01    7.73       12.28      83.65
Purchase                               77.11   82.85   656  43.36  190,881.26   42.77%       29.88   26.62        6.02       0.00
Rate/Term                              80.53   80.94   614  41.84  176,457.66    4.78%       60.70   12.58        6.49       0.00
Cashout                                77.26   77.84   603  42.40  207,543.14   52.45%       48.31   14.25        5.84     100.00
Primary                                76.99   79.97   624  42.96  200,159.15   92.54%       41.50   20.57        0.00      52.87
Second                                 81.84   82.77   652  43.72  238,994.56    1.52%       34.62   14.23        0.00      30.46
Investment                             81.84   81.90   652  39.87  168,888.62    5.95%       35.11    3.59      100.00      51.46
FL&Vegas Investment                    84.61   84.61   656  40.83  170,945.28    1.04%       29.24    1.32      100.00      38.59
CA Investment                          79.50   79.67   649  38.76  311,623.21    1.94%       34.60    6.50      100.00      50.50
2-4 family                             75.46   78.31   645  42.95  260,187.99    9.35%       31.73   16.92       19.67      48.97
Full doc                               78.51   80.02   607  42.19  180,522.46   41.02%      100.00   17.67        5.09      61.77
Ltd doc(alt, sisa, niva, siva,reduced) 77.57   81.92   619  39.66  207,987.04    4.31%        0.00   25.71       11.39      48.70
stated doc                             76.47   80.07   641  43.49  213,617.89   54.68%        0.00   20.31        6.16      45.75
no doc
Neg am
Loans < $100k                          60.84   85.14   618  40.08   66,893.10    8.23%       49.89    1.39       10.45      40.72
Loans < $200k                          72.28   80.10   613  41.50  115,107.38   35.38%       51.43    6.50        7.77      52.33
FICO (all)                             77.35   80.13   626  42.79  198,463.11  100.00%       41.02   19.46        5.95      52.45
FICO sub 550                           72.55   72.60   525  42.21  169,196.38   12.02%       59.95    0.22        1.60      86.95
FICO sub 600                           76.21   76.50   556  42.39  177,299.83   29.71%       57.17    1.84        2.88      80.77
MH
DTI>45                                 77.82   80.85   625  48.79  211,408.47   45.22%       41.70   19.21        5.19      51.02
DTI>55                                 77.50   80.21   625  57.78  270,317.58    0.84%       63.33    9.11        5.38      56.31
No DTI                                 74.34   75.90   688   0.00  223,996.58    0.43%        0.00   16.65        0.00      46.11
LTV=80                                 80.00   80.00   646  43.37  234,187.39   43.05%       33.59   28.17        2.12      28.59
LTV>80                                 88.94   88.94   622  42.64  207,839.90   28.10%       50.50   15.64       12.86      66.91
LTV>90                                 95.67   95.67   643  42.82  198,652.18    5.85%       62.76   13.25       14.86      48.90
CLTV>90                                67.62   97.23   648  43.14  110,531.03    9.29%       47.70    8.35        9.36      34.57
CLTV=100                               38.91  100.00   653  43.52   74,559.99    4.18%       33.56    0.95        0.00      16.16
seconds                                80.13   80.13   658  43.90  238,050.29   34.70%       32.04   33.01        0.68      16.72
simaltaneous seconds                   80.13   80.13   658  43.83  238,383.18   37.72%       31.07   33.32        0.62      15.70
Rustbelt (OH, MI, IN, IL, PA)          80.11   82.05   613  42.43  142,398.39   11.43%       46.43    5.92        8.14      56.91


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.

STATES



AL                                     78.76   81.08   558  36.46   75,959.42    0.18%       69.90    0.00       15.71      64.04
AK                                     80.00   80.00   659  47.44  133,712.98    0.02%        0.00    0.00        0.00       0.00
AZ                                     77.35   78.87   612  42.12  182,760.23    3.83%       39.29   23.99        1.83      60.90
AR                                     80.47   81.69   590  41.76  133,061.05    0.18%       67.14    0.00        0.00       8.74
CA                                     75.72   80.11   641  43.43  296,230.81   32.46%       30.43   32.79        5.98      44.22
CO                                     77.24   81.52   630  42.23  146,426.27    0.96%       56.15   15.11       10.19      55.87
CT                                     76.71   78.40   616  44.29  201,398.30    1.78%       54.29    3.65        0.75      58.38
DE                                     78.99   80.69   621  45.60  174,312.25    0.21%       26.63   14.46        5.73      89.13
DC                                     74.39   74.39   640  40.24  287,991.79    0.24%       51.76   11.51       13.45      74.65
FL                                     76.41   79.54   622  42.90  178,914.44   14.27%       37.77   16.12        7.11      51.31
GA                                     82.06   82.98   614  40.62  144,932.48    1.60%       60.86   16.79        8.67      57.16
HI                                     77.90   78.34   652  45.18  419,913.22    1.36%       25.04   27.91        3.06      58.33
ID                                     85.33   85.33   612  40.05  137,633.82    0.40%       55.80    4.43       22.35      54.94
IL                                     79.18   81.62   622  43.86  177,256.79    6.86%       36.71    7.46        8.01      58.11
IN                                     84.11   85.90   593  40.87   92,943.21    0.52%       80.76    0.00        6.45      49.16
IA                                     77.60   78.52   602  40.65  110,494.18    0.17%       59.32    0.00        0.00      37.99
KS                                     76.18   76.18   588  37.64  115,053.46    0.26%       82.59    6.93        5.12      67.33
KY                                     81.30   82.57   593  41.70   84,865.96    0.11%       79.23   22.50        0.00      56.66
LA                                     81.98   83.67   608  38.66  118,224.32    0.30%       69.60    0.00        4.79      67.86
ME                                     89.72   89.72   657  42.30  200,221.12    0.19%       47.67   14.98       33.12      53.53
MD                                     76.93   78.32   613  41.93  223,634.32    3.08%       62.66   26.95        4.01      73.45
MA                                     80.29   81.80   617  44.17  229,060.52    2.47%       51.67    7.82        2.96      72.76
MI                                     81.27   82.68   594  39.81  107,491.37    1.61%       53.64    2.88        8.19      54.88
MN                                     80.49   81.04   627  45.95  194,291.50    0.47%       33.10    7.39        0.00      52.35
MS                                     83.84   90.47   570  46.66   87,590.17    0.06%       78.70    0.00        0.00      21.30
MO                                     83.75   84.41   596  38.14  113,528.60    0.90%       76.45    1.23       10.99      60.13
MT                                     73.46   73.46   566  35.37  297,455.05    0.04%        0.00    0.00        0.00     100.00
NE                                     80.58   87.25   612  36.79   80,779.86    0.04%       46.84    0.00        0.00      61.49
NV                                     77.77   81.56   636  43.93  213,728.88    2.38%       34.80   32.34        2.48      43.35
NH                                     82.39   82.39   639  42.44  190,089.74    0.14%       43.59    0.00        0.00      28.84
NJ                                     76.68   77.01   607  43.48  265,050.52    2.48%       46.58    8.67        3.19      72.44
NM                                     81.44   84.27   607  41.68  176,970.31    0.32%       64.68   13.86        4.57      60.31
NY                                     76.09   76.69   650  42.92  300,231.85    5.00%       33.61   17.12        4.55      51.02
NC                                     80.74   81.62   615  40.12  117,004.14    0.57%       53.28   10.30        8.75      48.79
ND                                     92.38   92.38   588  41.89  109,697.46    0.05%      100.00    0.00        0.00      27.90
OH                                     83.94   84.45   596  41.65   99,176.16    0.59%       69.66    9.90       15.25      48.98
OK                                     82.49   82.49   640  40.32   99,495.20    0.14%       55.89    0.00        4.21      33.81
OR                                     79.39   79.82   606  40.79  174,764.82    1.00%       66.66   11.20        2.72      70.77
PA                                     80.20   81.23   608  40.06  123,115.33    1.84%       59.09    3.26        6.76      58.94
RI                                     76.62   79.23   617  42.97  205,834.12    1.82%       29.40   14.29        3.19      65.85
SC                                     84.47   84.47   642  39.98   77,773.87    0.08%       55.71   14.11       40.05      17.98
SD                                     63.19   63.19   514  33.19   85,157.70    0.01%      100.00    0.00        0.00     100.00
TN                                     82.74   82.74   609  40.69  112,745.19    0.86%       59.30    1.06       17.24      45.53
TX                                     78.64   81.65   615  40.49   99,795.99    3.19%       53.30    2.93        5.58      35.80
UT                                     80.61   80.61   630  38.44  196,712.95    0.35%       48.20    0.00       20.38      29.95
VT                                     71.05   71.05   597  43.80  100,992.77    0.02%      100.00   63.37        0.00      36.63
VA                                     76.24   78.29   608  43.44  177,036.80    2.10%       50.08   10.47        4.95      62.93
WA                                     76.82   80.51   606  42.60  187,172.15    1.95%       63.25    9.37        2.56      65.56
WI                                     79.10   82.91   622  39.26  131,412.49    0.47%       60.29    0.00        9.00      48.43
WY                                     75.02   75.02   569  49.70  174,921.32    0.04%      100.00    0.00        0.00     100.00


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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                      SELECTED AGGREGATE MORTGAGE POOL DATA



                                     Weighted Average      Min           Max
                                     ----------------   ---------   ------------

1st Lien                              805,760,512.23
2nd Lien                               29,173,788.93
with silent seconds                   289,707,200.16
Gross Coupon                                   8.458        5.700         14.240
Original LTV                                   77.35         8.42         100.00
Original CLTV                                  80.13        14.63         100.00
Original CLTV with silent seconds              86.82        14.63         100.00
FICO                                             626          500            814
Non-Zero DTI                                   42.79         1.78          59.92
ARM %                                          86.80
FRM %                                          13.20
Loan size                                 198,463.11    14,773.89   1,000,000.00




               NUMBER     AGGREGATE
   RANGE OF      OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
CREDIT SCORES   LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
-------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

   <= 399
400 - 424
425 - 449
450 - 474
475 - 499
500 - 524        279    46,441,482.87   5.56     22.28    0.84    1.74     0.47   0.00   512   71.73   71.85      1.57     0.00
525 - 549        314    53,891,969.19   6.45     15.66    1.07    3.92     0.00   0.00   537   73.26   73.26      1.63     0.00
550 - 574        349    62,693,438.49   7.51     18.62    0.98    3.63     0.40   0.00   562   77.49   77.64      2.15     0.00
575 - 599        457    85,015,577.28  10.18     22.81    1.00    2.46     4.83   0.00   588   79.59   80.25      4.93     0.00
600 - 624        736   149,312,831.30  17.88     33.06    0.76    1.86    24.67   0.00   613   78.60   81.30      4.49     0.00
625 - 649        818   160,006,051.51  19.16     34.21    0.48    1.04    21.59   0.00   636   77.32   81.71      7.34     0.00
650 - 674        549   117,558,717.97  14.08     41.62    0.11    0.67    29.79   0.00   661   77.33   81.69      6.68     0.00
675 - 699        336    75,361,493.27   9.03     45.02    0.55    0.74    32.23   0.00   686   77.22   81.41     11.09     0.00
700 - 724        169    38,491,750.68   4.61     42.43    0.22    0.31    30.54   0.00   710   78.80   82.65      7.42     0.00
725 - 749        106    22,546,021.41   2.70     26.63    0.00    0.46    30.34   0.00   735   80.12   83.03     15.15     0.00
750 >=            94    23,614,967.19   2.83     50.42    0.00    0.56    36.65   0.00   770   77.22   81.49      6.67     0.00




                 NUMBER     AGGREGATE
  CLTV (WITH       OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
SILENT SECONDS)   LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
---------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

 0.01 -  15.00        1      149,734.58   0.02      0.00    0.00    0.00     0.00   0.00   668   14.63   14.63       0.00     0.00
15.01 -  20.00        4      430,263.77   0.05     56.77    0.00    0.00     0.00   0.00   550   18.12   18.12       0.00     0.00
20.01 -  25.00        7    1,072,050.89   0.13     70.50    0.00    0.00    11.19   0.00   599   23.60   23.60       0.00     0.00
25.01 -  30.00        7      789,898.44   0.09     62.47    0.00    9.48     0.00   0.00   614   27.12   27.12      13.91     0.00
30.01 -  35.00        8    1,258,495.08   0.15     29.03    0.00    0.00     0.00   0.00   636   32.73   32.73      15.86     0.00
35.01 -  40.00       19    3,272,611.37   0.39      8.03    0.00    0.00    29.95   0.00   594   38.59   38.59       4.28     0.00
40.01 -  45.00       39    6,037,572.66   0.72     50.26    0.00    0.00     3.64   0.00   587   42.50   42.50       2.81     0.00
45.01 -  50.00       47    7,156,497.81   0.86     49.11    0.00    0.00     0.00   0.00   599   47.86   47.86      14.45     0.00
50.01 -  55.00       53    9,792,664.38   1.17     43.18    0.00    0.00    13.30   0.00   581   52.87   52.87      17.49     0.00
55.01 -  60.00       71   11,590,853.63   1.39     23.98    0.56    0.00     5.95   0.00   594   57.90   57.90       1.68     0.00
60.01 -  65.00      122   23,050,855.01   2.76     22.05    0.00    2.01     7.61   0.00   574   63.37   63.37       6.98     0.00
65.01 -  70.00      190   36,938,986.62   4.42     19.23    0.65    0.91     5.84   0.00   579   68.86   68.86       7.96     0.00
70.01 -  75.00      280   58,446,358.07   7.00     24.56    0.09    1.09     6.37   0.00   578   73.59   73.77       3.49     0.00
75.01 -  80.00      628  134,073,219.04  16.06     27.60    0.46    1.98    16.02   0.00   610   79.62   79.62       6.70     0.00
80.01 -  85.00      412   83,279,910.04   9.97     26.95    0.85    2.47    14.16   0.00   604   84.46   84.46      11.01     0.00
85.01 -  90.00      428   97,225,263.49  11.64     28.97    0.90    1.61    17.81   0.00   629   88.93   89.05      12.93     0.00
90.01 -  95.00      254   54,268,770.09   6.50     28.35    1.64    1.33    22.87   0.00   650   89.53   90.46      14.91     0.00
95.01 - 100.00    1,637  306,100,296.19  36.66     41.11    0.49    1.61    28.94   0.00   657   75.31   82.65       0.22     0.00
> 100.00




                 NUMBER     AGGREGATE
                   OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
      DTI         LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
---------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

       <= 0.000      16    3,583,945.23   0.43     23.46    0.00    0.00    16.65   0.00   688   74.34   75.90       0.00     0.00
 0.001 -  5.000       5      932,509.63   0.11      0.00    0.00    0.00     0.00   0.00   624   71.45   82.84      16.94     0.00
 5.001 - 10.000      11    1,640,155.81   0.20     16.39    0.00   15.32     0.00   0.00   593   74.42   74.42       9.19     0.00
10.001 - 15.000      24    4,053,408.45   0.49     28.17    0.00    0.00     0.00   0.00   633   78.68   78.68      23.49     0.00
15.001 - 20.000      50    6,891,373.19   0.83     17.24    2.38    4.68     7.18   0.00   597   72.64   73.59      22.30     0.00
20.001 - 25.000     111   16,047,340.10   1.92     24.26    0.75    2.18    14.22   0.00   602   78.34   80.30      19.01     0.00
25.001 - 30.000     192   31,652,725.51   3.79     23.05    1.10    3.90    14.03   0.00   625   77.47   79.32       9.03     0.00
30.001 - 35.000     319   55,348,836.09   6.63     25.96    0.63    1.33    16.09   0.00   615   75.89   77.42       8.89     0.00
35.001 - 40.000     574  104,558,477.41  12.52     34.35    0.45    2.84    21.45   0.00   623   76.96   79.73       6.51     0.00
40.001 - 45.000   1,119  232,650,007.86  27.86     33.71    0.56    1.50    21.85   0.00   634   77.24   80.20       4.14     0.00
45.001 - 50.000   1,392  295,759,293.23  35.42     34.27    0.51    1.01    21.14   0.00   629   77.93   81.23       4.58     0.00
50.001 - 55.000     368   74,787,971.48   8.96     29.52    0.94    1.35    12.53   0.00   609   77.40   79.41       7.56     0.00
55.001 - 60.000      26    7,028,257.17   0.84     61.07    0.00    1.03     9.11   0.00   625   77.50   80.21       5.38     0.00
60.000 >=




                NUMBER     AGGREGATE
                  OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
 LOAN PURPOSE    LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
--------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

Cash Out Refi    2,110  437,916,029.78  52.45     27.37    0.55    1.68    14.25   0.00   603   77.26   77.84       5.84     0.00
Purchase         1,871  357,138,841.16  42.77     40.04    0.44    1.36    26.62   0.00   656   77.11   82.85       6.02     0.00
Rate/Term Refi     226   39,879,430.22   4.78     20.51    2.43    3.04    12.58   0.00   614   80.53   80.94       6.49     0.00




                NUMBER     AGGREGATE
  OCCUPATION      OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
     TYPE        LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
--------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

Investor            294   49,653,254.04   5.95     32.64    1.52    2.22     3.59   0.00   652   81.84   81.90     100.00     0.00
Owner Occupied    3,860  772,614,335.34  92.54     32.73    0.54    1.60    20.57   0.00   624   76.99   79.97       0.00     0.00
Second Home          53   12,666,711.78   1.52     15.60    0.00    0.00    14.23   0.00   652   81.84   82.77       0.00     0.00




                NUMBER     AGGREGATE
 DOCUMENTATION    OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
     TYPE        LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
--------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

Full             1,897  342,451,104.45  41.02     24.08    1.01    2.10    17.67   0.00   607   78.51   80.02       5.09     0.00
No Doc Reduced   2,310  492,483,196.71  58.98     38.29    0.31    1.26    20.71   0.00   639   76.55   80.21       6.54     0.00




               NUMBER     AGGREGATE
   PROPERTY      OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
     TYPE       LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
-------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

Single Family    3,358  640,465,570.39  76.71     33.49    0.69    2.01    18.81   0.00   622   77.55   80.32       4.55     0.00
PUD                216   53,080,620.23   6.36     23.23    0.00    0.00    23.41   0.00   628   77.71   80.00       2.33     0.00
Condomium          270   52,023,168.45   6.23     42.48    0.25    0.44    26.09   0.00   641   77.52   80.96       6.43     0.00
2 - 4 Family       300   78,056,396.73   9.35     26.61    0.49    0.45    16.92   0.00   645   75.46   78.31      19.67     0.00
Manufactured
housing
Townhouse           63   11,308,545.36   1.35     11.86    0.00    0.00    25.15   0.00   621   76.56   79.03       5.01     0.00




      NUMBER     AGGREGATE
        OF       PRINCIPAL     % OF      %         %      %              % NEG   WA
IO'S   LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN   % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
----  ------  --------------  -----  ----------  ----  --------  ------  -----  ----  ------  -------  ----------  -----

No     3,676  672,426,295.29  80.54     27.09    0.66    1.94      0.00   0.00   618   76.57   80.02      7.12      0.00
Yes      531  162,508,005.87  19.46     54.69    0.30    0.24    100.00   0.00   659   80.60   80.60      1.10      0.00




      NUMBER     AGGREGATE
IO'S    OF       PRINCIPAL     % OF      %         %      %              % NEG   WA
TERM   LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN   % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
----  ------  --------------  -----  ----------  ----  --------  ------  -----  ----  ------  -------  ----------  -----

No     3,676  672,426,295.29  80.54     27.09    0.66    1.94      0.00   0.00   618   76.57   80.02      7.12      0.00
24         2      431,400.00   0.05      0.00    0.00    0.00    100.00   0.00   606   79.45   79.45      0.00      0.00
36         3      639,500.00   0.08     33.78    0.00    0.00    100.00   0.00   631   77.28   77.28      0.00      0.00
60       521  160,349,980.87  19.21     55.09    0.31    0.24    100.00   0.00   659   80.61   80.61      1.11      0.00
>60        5    1,087,125.00   0.13     29.44    0.00    0.00    100.00   0.00   643   81.43   81.43      0.00      0.00




            NUMBER     AGGREGATE
PREPAYMENT    OF       PRINCIPAL     % OF      %         %       %             % NEG   WA
 PENALTY     LOANS      BALANCE      DEAL  CALIFORNIA   OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
----------  ------  --------------  -----  ----------  -----  --------  -----  -----  ----  ------  -------  ----------  -----

0            1,199  216,979,402.64  25.99     12.30     0.16    0.20    14.29   0.00   624   78.03   80.89       6.54     0.00
6               15    3,489,710.89   0.42     11.46     0.00    0.00    32.86   0.00   639   77.65   77.65       0.00     0.00
12             237   68,168,035.08   8.16     27.00     0.00    0.07    21.84   0.00   646   77.40   78.59       5.99     0.00
18
24           1,682  372,728,762.98  44.64     46.83     0.51    1.30    23.92   0.00   628   78.16   80.10       5.92     0.00
30               7    1,406,947.13   0.17      0.00     0.00    0.00    12.79   0.00   609   82.36   82.36       0.00     0.00
36           1,007  164,152,598.66  19.66     30.31     0.89    4.94    15.54   0.00   619   74.63   80.08       5.08     0.00
42
48               1      145,963.85   0.02      0.00     0.00    0.00     0.00   0.00   529   36.50   36.50       0.00     0.00
60              59    7,862,879.93   0.94     15.89    15.56    0.00     7.73   0.00   580   76.52   76.52      12.28     0.00




                   NUMBER     AGGREGATE
                     OF       PRINCIPAL     % OF      %         %      %             % NEG   WA
    LOAN SIZE       LOANS      BALANCE      DEAL  CALIFORNIA  OHIO  MICHIGAN  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
-----------------  ------  --------------  -----  ----------  ----  --------  -----  -----  ----  ------  -------  ----------  -----

      1 - 100,000   1,027   68,699,210.72   8.23     12.66    3.32    7.18     1.39   0.00   618   60.84   85.14      10.45     0.00
100,001 - 200,000   1,544  227,666,338.69  27.27     10.02    0.95    2.77     8.46   0.00   611   75.76   78.57       6.93     0.00
200,001 - 300,000     866  211,499,684.51  25.33     26.08    0.24    0.68    20.39   0.00   622   79.25   79.30       5.00     0.00
300,001 - 400,000     404  139,336,159.89  16.69     45.57    0.00    0.22    26.57   0.00   636   79.92   79.92       5.23     0.00
400,001 - 500,000     219   98,185,275.90  11.76     67.05    0.00    0.45    33.10   0.00   640   80.96   80.96       4.69     0.00
500,001 - 600,000      89   48,760,140.16   5.84     59.74    0.00    0.00    35.39   0.00   645   81.49   81.49       1.20     0.00
600,001 - 700,000      34   21,963,801.28   2.63     65.14    0.00    0.00    40.83   0.00   653   81.37   81.37       6.28     0.00
700,001 - 800,000      19   14,142,152.37   1.69     63.20    0.00    0.00    11.00   0.00   653   82.74   82.74      15.98     0.00
800,001 >=              5    4,681,537.64   0.56     57.52    0.00    0.00    39.62   0.00   650   80.66   80.66       0.00     0.00




              NUMBER     AGGREGATE
 GEOGRAPHIC     OF       PRINCIPAL     % OF         % NEG   WA
DISTRIBUTION   LOANS      BALANCE      DEAL  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
------------  ------  --------------  -----  -----  -----  ----  ------  -------  ----------  -----

California      915   271,051,189.84  32.46  32.79   0.00   641   75.72   80.11       5.98     0.00
Florida         666   119,157,018.56  14.27  16.12   0.00   622   76.41   79.54       7.11     0.00
Ohio             50     4,958,808.03   0.59   9.90   0.00   596   83.94   84.45      15.25     0.00
Michigan        125    13,436,420.95   1.61   2.88   0.00   594   81.27   82.68       8.19     0.00
Texas           267    26,645,529.27   3.19   2.93   0.00   615   78.64   81.65       5.58     0.00




GEOGRAPHIC
DISTRIBUTION  NUMBER    AGGREGATE
(<575 CREDIT    OF      PRINCIPAL     % OF         % NEG   WA
   SCORE)      LOANS     BALANCE      DEAL  % IOS    AM   FICO  WA LTV  WA CLTV  % INVESTOR  % PMI
------------  ------  -------------  -----  -----  -----  ----  ------  -------  ----------  -----

California      112   30,462,554.37   3.65   0.82   0.00   538   70.49   70.80      2.47      0.00
Florida         152   25,517,902.65   3.06   0.00   0.00   538   71.48   71.61      0.29      0.00
Ohio             16    1,579,217.80   0.19   0.00   0.00   541   83.30   83.30      7.82      0.00
Michigan         44    5,191,540.58   0.62   0.00   0.00   543   78.44   78.44      2.59      0.00
Texas            65    6,400,026.03   0.77   0.00   0.00   536   79.51   79.90      6.13      0.00


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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The securities/instruments discussed in this material may not be suitable for
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Options are not for everyone. Before purchasing or writing options, investors
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ZIP CODE   CURRENT BALANCE   % POOL
--------   ---------------   ------
14201                   --    0.00%
14202                   --    0.00%
14203                   --    0.00%
14204                   --    0.00%
14205                   --    0.00%
14206                   --    0.00%
14207                   --    0.00%
14208                   --    0.00%
14209                   --    0.00%
14210                   --    0.00%
14211                   --    0.00%
14212                   --    0.00%
14213                   --    0.00%
14214            55,974.24    0.01%
14215                   --    0.00%
14216                   --    0.00%
14217                   --    0.00%
14218                   --    0.00%
14219                   --    0.00%
14220                   --    0.00%
14221                   --    0.00%
14222                   --    0.00%
14223                   --    0.00%
14224           101,280.64    0.01%
14225                   --    0.00%
14226            64,369.64    0.01%
14227                   --    0.00%
14228                   --    0.00%
14231                   --    0.00%
14233                   --    0.00%
14240                   --    0.00%
14241                   --    0.00%
14260                   --    0.00%
14261                   --    0.00%
14263                   --    0.00%
14264                   --    0.00%
14265                   --    0.00%
14267                   --    0.00%
14269                   --    0.00%
14270                   --    0.00%
14272                   --    0.00%
14273                   --    0.00%
14276                   --    0.00%
14280                   --    0.00%
14603                   --    0.00%
14604                   --    0.00%
14605                   --    0.00%
14606                   --    0.00%
14607                   --    0.00%
14608                   --    0.00%
14609                   --    0.00%
14610                   --    0.00%
14611                   --    0.00%
14612            22,444.02    0.00%
14613            75,931.64    0.01%
14614                   --    0.00%
14615                   --    0.00%
14616                   --    0.00%
14617                   --    0.00%
14618                   --    0.00%
14619                   --    0.00%
14620                   --    0.00%
14621                   --    0.00%
14622                   --    0.00%
14623                   --    0.00%
14624                   --    0.00%
14625                   --    0.00%
14626                   --    0.00%
14694                   --    0.00%
16146                   --    0.00%
16148           259,551.03    0.03%
16501                   --    0.00%
16502                   --    0.00%
16503                   --    0.00%
16504                   --    0.00%
16505                   --    0.00%
16506                   --    0.00%
16507                   --    0.00%
16508           162,377.45    0.02%
16509                   --    0.00%
16510                   --    0.00%
16511                   --    0.00%
16515                   --    0.00%
16541                   --    0.00%
16544                   --    0.00%
16546                   --    0.00%
16550                   --    0.00%
16563                   --    0.00%
16565                   --    0.00%
18501                   --    0.00%
18502                   --    0.00%
18503                   --    0.00%
18504                   --    0.00%
18505                   --    0.00%
18506                   --    0.00%
18507                   --    0.00%
18508                   --    0.00%
18509                   --    0.00%
18510                   --    0.00%
18511                   --    0.00%
18512                   --    0.00%
18514                   --    0.00%
18515                   --    0.00%
18517                   --    0.00%
18518                   --    0.00%
18519                   --    0.00%
18522                   --    0.00%
18540                   --    0.00%
18577                   --    0.00%
25699                   --    0.00%
25701                   --    0.00%
25702                   --    0.00%
25703                   --    0.00%
25704                   --    0.00%
25705                   --    0.00%
25725                   --    0.00%
25727                   --    0.00%
25779                   --    0.00%
26003                   --    0.00%
26101                   --    0.00%
26102                   --    0.00%
26103                   --    0.00%
26104                   --    0.00%
26105                   --    0.00%
26106                   --    0.00%
27530                   --    0.00%
27531                   --    0.00%
27532                   --    0.00%
27533                   --    0.00%
27534                   --    0.00%
27801                   --    0.00%
27802                   --    0.00%
27803                   --    0.00%
27804                   --    0.00%
27833                   --    0.00%
27834                   --    0.00%
27835                   --    0.00%
27836                   --    0.00%
27858                   --    0.00%
28201                   --    0.00%
28202                   --    0.00%
28203                   --    0.00%
28204                   --    0.00%
28205                   --    0.00%
28206                   --    0.00%
28207                   --    0.00%
28208                   --    0.00%
28209                   --    0.00%
28210                   --    0.00%
28211                   --    0.00%
28212                   --    0.00%
28213                   --    0.00%
28214                   --    0.00%
28215                   --    0.00%
28216                   --    0.00%
28217                   --    0.00%
28218                   --    0.00%
28219                   --    0.00%
28220                   --    0.00%
28221                   --    0.00%
28222                   --    0.00%
28223                   --    0.00%
28224                   --    0.00%
28226                   --    0.00%
28227                   --    0.00%
28228                   --    0.00%
28229                   --    0.00%
28230                   --    0.00%
28231                   --    0.00%
28232                   --    0.00%
28233                   --    0.00%
28234                   --    0.00%
28235                   --    0.00%
28236                   --    0.00%
28237                   --    0.00%
28241                   --    0.00%
28242                   --    0.00%
28243                   --    0.00%
28244                   --    0.00%
28246                   --    0.00%
28247                   --    0.00%
28250                   --    0.00%
28253                   --    0.00%
28254                   --    0.00%
28255                   --    0.00%
28256                   --    0.00%
28258                   --    0.00%
28260                   --    0.00%
28262                   --    0.00%
28265                   --    0.00%
28266                   --    0.00%
28269                   --    0.00%
28270           186,195.17    0.02%
28271                   --    0.00%
28272                   --    0.00%
28273                   --    0.00%
28274                   --    0.00%
28275                   --    0.00%
28277                   --    0.00%
28278                   --    0.00%
28280                   --    0.00%
28281                   --    0.00%
28282                   --    0.00%
28284                   --    0.00%
28287                   --    0.00%
28288                   --    0.00%
28289                   --    0.00%
28290                   --    0.00%
28296                   --    0.00%
28297                   --    0.00%
28299                   --    0.00%
28601                   --    0.00%
28602            74,723.54    0.01%
28603                   --    0.00%
29150                   --    0.00%
29151                   --    0.00%
29153                   --    0.00%
29154                   --    0.00%
29201                   --    0.00%
29203                   --    0.00%
29204                   --    0.00%
29205                   --    0.00%
29206                   --    0.00%
29207                   --    0.00%
29208                   --    0.00%
29209            79,922.63    0.01%
29210                   --    0.00%
29211                   --    0.00%
29212                   --    0.00%
29214                   --    0.00%
29215                   --    0.00%
29216                   --    0.00%
29217                   --    0.00%
29218                   --    0.00%
29219                   --    0.00%
29220                   --    0.00%
29221                   --    0.00%
29222                   --    0.00%
29223                   --    0.00%
29225                   --    0.00%
29226                   --    0.00%
29227                   --    0.00%
29228                   --    0.00%
29229                   --    0.00%
29230                   --    0.00%
29240                   --    0.00%
29250                   --    0.00%
29260                   --    0.00%
29290                   --    0.00%
29292                   --    0.00%
29401                   --    0.00%
29402                   --    0.00%
29403                   --    0.00%
29404                   --    0.00%
29405                   --    0.00%
29406                   --    0.00%
29407                   --    0.00%
29408                   --    0.00%
29409                   --    0.00%
29410                   --    0.00%
29411                   --    0.00%
29412                   --    0.00%
29413                   --    0.00%
29414                   --    0.00%
29415                   --    0.00%
29416                   --    0.00%
29417                   --    0.00%
29418                   --    0.00%
29419                   --    0.00%
29420                   --    0.00%
29422                   --    0.00%
29423                   --    0.00%
29424                   --    0.00%
29425                   --    0.00%
29492                   --    0.00%
29501                   --    0.00%
29502                   --    0.00%
29503                   --    0.00%
29504                   --    0.00%
29505                   --    0.00%
29506                   --    0.00%
29572                   --    0.00%
29575                   --    0.00%
29577                   --    0.00%
29578                   --    0.00%
29579                   --    0.00%
29587                   --    0.00%
29588                   --    0.00%
29601                   --    0.00%
29605                   --    0.00%
29607                   --    0.00%
29609                   --    0.00%
29611            59,228.22    0.01%
29615                   --    0.00%
29617                   --    0.00%
29698                   --    0.00%
32114           112,348.49    0.01%
32115                   --    0.00%
32116                   --    0.00%
32117                   --    0.00%
32118                   --    0.00%
32119           118,205.11    0.01%
32120                   --    0.00%
32122                   --    0.00%
32123                   --    0.00%
32124                   --    0.00%
32125                   --    0.00%
32126                   --    0.00%
32198                   --    0.00%
35601                   --    0.00%
35602                   --    0.00%
35603                   --    0.00%
35609                   --    0.00%
37040                   --    0.00%
37041                   --    0.00%
37042           249,953.03    0.03%
37043                   --    0.00%
37044                   --    0.00%
38103           153,806.90    0.02%
38104                   --    0.00%
38105                   --    0.00%
38106                   --    0.00%
38107                   --    0.00%
38108                   --    0.00%
38109            57,880.97    0.01%
38111            52,793.61    0.01%
38112           256,487.76    0.03%
38114                   --    0.00%
38115                   --    0.00%
38116           100,622.92    0.01%
38117                   --    0.00%
38118            76,435.56    0.01%
38119           139,775.97    0.02%
38120                   --    0.00%
38122                   --    0.00%
38125           166,157.15    0.02%
38126                   --    0.00%
38127            57,555.38    0.01%
38128           277,147.29    0.03%
38131                   --    0.00%
38132                   --    0.00%
38133           102,421.63    0.01%
38134            69,577.54    0.01%
38135                   --    0.00%
38137                   --    0.00%
38138                   --    0.00%
38139                   --    0.00%
38141           102,426.40    0.01%
38157                   --    0.00%
38301           104,778.29    0.01%
38302                   --    0.00%
38303                   --    0.00%
38305           287,791.74    0.03%
38308                   --    0.00%
38314                   --    0.00%
39201                   --    0.00%
39202                   --    0.00%
39203                   --    0.00%
39204                   --    0.00%
39206                   --    0.00%
39208                   --    0.00%
39209            71,882.36    0.01%
39211                   --    0.00%
39212                   --    0.00%
39213                   --    0.00%
39216                   --    0.00%
39218                   --    0.00%
39232                   --    0.00%
39272                   --    0.00%
39283                   --    0.00%
39298                   --    0.00%
39401                   --    0.00%
39402                   --    0.00%
39403                   --    0.00%
39404                   --    0.00%
39405                   --    0.00%
39406                   --    0.00%
39407                   --    0.00%
43085                   --    0.00%
43201                   --    0.00%
43202                   --    0.00%
43203                   --    0.00%
43204                   --    0.00%
43205                   --    0.00%
43206            86,271.49    0.01%
43207            93,435.00    0.01%
43209           186,826.65    0.02%
43210                   --    0.00%
43211                   --    0.00%
43212                   --    0.00%
43213                   --    0.00%
43214                   --    0.00%
43215                   --    0.00%
43217                   --    0.00%
43219                   --    0.00%
43220                   --    0.00%
43221                   --    0.00%
43222                   --    0.00%
43223                   --    0.00%
43224                   --    0.00%
43226                   --    0.00%
43227                   --    0.00%
43228                   --    0.00%
43229            31,951.60    0.00%
43230                   --    0.00%
43231                   --    0.00%
43232                   --    0.00%
43235                   --    0.00%
43240                   --    0.00%
43601                   --    0.00%
43602                   --    0.00%
43604                   --    0.00%
43605                   --    0.00%
43606                   --    0.00%
43607                   --    0.00%
43608                   --    0.00%
43609                   --    0.00%
43610                   --    0.00%
43611                   --    0.00%
43612            69,819.59    0.01%
43613                   --    0.00%
43614                   --    0.00%
43615                   --    0.00%
43617                   --    0.00%
43620                   --    0.00%
43623                   --    0.00%
43624                   --    0.00%
43659                   --    0.00%
43699                   --    0.00%
43952                   --    0.00%
43953                   --    0.00%
44102            63,982.19    0.01%
44103                   --    0.00%
44104                   --    0.00%
44105                   --    0.00%
44106                   --    0.00%
44107                   --    0.00%
44108                   --    0.00%
44109                   --    0.00%
44110                   --    0.00%
44111                   --    0.00%
44112                   --    0.00%
44113                   --    0.00%
44114                   --    0.00%
44115                   --    0.00%
44116                   --    0.00%
44117                   --    0.00%
44118                   --    0.00%
44119                   --    0.00%
44120            70,397.91    0.01%
44121                   --    0.00%
44122                   --    0.00%
44123            47,465.96    0.01%
44124                   --    0.00%
44125                   --    0.00%
44126                   --    0.00%
44127                   --    0.00%
44128                   --    0.00%
44129           128,000.00    0.02%
44130           111,956.74    0.01%
44131                   --    0.00%
44132                   --    0.00%
44133                   --    0.00%
44134                   --    0.00%
44135                   --    0.00%
44136                   --    0.00%
44137                   --    0.00%
44138                   --    0.00%
44139                   --    0.00%
44140                   --    0.00%
44141                   --    0.00%
44142                   --    0.00%
44143                   --    0.00%
44144                   --    0.00%
44145                   --    0.00%
44146                   --    0.00%
44147                   --    0.00%
44149                   --    0.00%
44301                   --    0.00%
44302                   --    0.00%
44303                   --    0.00%
44304            59,452.50    0.01%
44305                   --    0.00%
44306                   --    0.00%
44307                   --    0.00%
44308                   --    0.00%
44309                   --    0.00%
44310                   --    0.00%
44311                   --    0.00%
44312                   --    0.00%
44313                   --    0.00%
44314            71,738.75    0.01%
44315                   --    0.00%
44316                   --    0.00%
44317                   --    0.00%
44318                   --    0.00%
44319                   --    0.00%
44320            84,457.10    0.01%
44321                   --    0.00%
44322                   --    0.00%
44325                   --    0.00%
44326                   --    0.00%
44328                   --    0.00%
44333                   --    0.00%
44334                   --    0.00%
44372                   --    0.00%
44393                   --    0.00%
44396                   --    0.00%
44398                   --    0.00%
44399                   --    0.00%
44501                   --    0.00%
44502                   --    0.00%
44503                   --    0.00%
44504                   --    0.00%
44505                   --    0.00%
44506                   --    0.00%
44507                   --    0.00%
44508                   --    0.00%
44509                   --    0.00%
44510                   --    0.00%
44511                   --    0.00%
44512                   --    0.00%
44513                   --    0.00%
44514                   --    0.00%
44515                   --    0.00%
44555                   --    0.00%
44701                   --    0.00%
44702                   --    0.00%
44703                   --    0.00%
44704                   --    0.00%
44705                   --    0.00%
44706                   --    0.00%
44707                   --    0.00%
44708                   --    0.00%
44709                   --    0.00%
44710                   --    0.00%
44711                   --    0.00%
44712                   --    0.00%
44714                   --    0.00%
44718                   --    0.00%
44720                   --    0.00%
44721                   --    0.00%
44730                   --    0.00%
44735                   --    0.00%
44750                   --    0.00%
44760                   --    0.00%
44767                   --    0.00%
44798                   --    0.00%
44799                   --    0.00%
44901                   --    0.00%
44902                   --    0.00%
44903                   --    0.00%
44904                   --    0.00%
44905                   --    0.00%
44906                   --    0.00%
44907           108,698.71    0.01%
44999                   --    0.00%
45011                   --    0.00%
45012                   --    0.00%
45013                   --    0.00%
45014                   --    0.00%
45015                   --    0.00%
45018                   --    0.00%
45025                   --    0.00%
45026                   --    0.00%
45202                   --    0.00%
45203                   --    0.00%
45204                   --    0.00%
45205                   --    0.00%
45206                   --    0.00%
45207                   --    0.00%
45208                   --    0.00%
45209                   --    0.00%
45210                   --    0.00%
45211                   --    0.00%
45212                   --    0.00%
45213                   --    0.00%
45214                   --    0.00%
45215                   --    0.00%
45216           101,804.85    0.01%
45217                   --    0.00%
45218                   --    0.00%
45219                   --    0.00%
45220                   --    0.00%
45223            72,026.78    0.01%
45224           147,365.93    0.02%
45225                   --    0.00%
45226                   --    0.00%
45227                   --    0.00%
45228                   --    0.00%
45229                   --    0.00%
45230                   --    0.00%
45231                   --    0.00%
45232                   --    0.00%
45233                   --    0.00%
45236                   --    0.00%
45237                   --    0.00%
45238           129,248.05    0.02%
45239            85,265.34    0.01%
45240                   --    0.00%
45241                   --    0.00%
45242           244,986.66    0.03%
45243                   --    0.00%
45244                   --    0.00%
45245                   --    0.00%
45246                   --    0.00%
45247                   --    0.00%
45248                   --    0.00%
45249                   --    0.00%
45251                   --    0.00%
45252                   --    0.00%
45255                   --    0.00%
45801                   --    0.00%
45802                   --    0.00%
45804                   --    0.00%
45805                   --    0.00%
45806                   --    0.00%
45807                   --    0.00%
45808                   --    0.00%
45809                   --    0.00%
45819                   --    0.00%
45854                   --    0.00%
45950                   --    0.00%
45999                   --    0.00%
46201                   --    0.00%
46202                   --    0.00%
46203                   --    0.00%
46204                   --    0.00%
46205           130,270.70    0.02%
46208                   --    0.00%
46214                   --    0.00%
46216                   --    0.00%
46217           108,810.50    0.01%
46218                   --    0.00%
46219           150,655.84    0.02%
46220                   --    0.00%
46221                   --    0.00%
46222                   --    0.00%
46224            66,203.96    0.01%
46225                   --    0.00%
46226           270,611.01    0.03%
46227                   --    0.00%
46228                   --    0.00%
46229                   --    0.00%
46231                   --    0.00%
46234                   --    0.00%
46235           190,108.07    0.02%
46236           106,128.93    0.01%
46237                   --    0.00%
46239                   --    0.00%
46240                   --    0.00%
46241                   --    0.00%
46250                   --    0.00%
46254                   --    0.00%
46256                   --    0.00%
46259                   --    0.00%
46260                   --    0.00%
46268           171,679.64    0.02%
46275                   --    0.00%
46278                   --    0.00%
46280                   --    0.00%
46282                   --    0.00%
46290                   --    0.00%
46298                   --    0.00%
46401                   --    0.00%
46402                   --    0.00%
46403                   --    0.00%
46404                   --    0.00%
46405                   --    0.00%
46406                   --    0.00%
46407                   --    0.00%
46408            80,730.00    0.01%
46409                   --    0.00%
46410           102,293.19    0.01%
46411                   --    0.00%
46514                   --    0.00%
46515                   --    0.00%
46516                   --    0.00%
46517                   --    0.00%
46601                   --    0.00%
46613                   --    0.00%
46614            48,466.29    0.01%
46615                   --    0.00%
46616                   --    0.00%
46617            50,920.06    0.01%
46619           160,465.14    0.02%
46628            73,058.17    0.01%
46629                   --    0.00%
46635                   --    0.00%
46637                   --    0.00%
46699                   --    0.00%
46802                   --    0.00%
46803                   --    0.00%
46804                   --    0.00%
46805                   --    0.00%
46806                   --    0.00%
46807                   --    0.00%
46808                   --    0.00%
46809                   --    0.00%
46814                   --    0.00%
46815                   --    0.00%
46816                   --    0.00%
46818                   --    0.00%
46819                   --    0.00%
46825                   --    0.00%
46835                   --    0.00%
46845                   --    0.00%
46857                   --    0.00%
46901            52,425.70    0.01%
46902                   --    0.00%
46903                   --    0.00%
46904                   --    0.00%
47302                   --    0.00%
47303                   --    0.00%
47304                   --    0.00%
47305                   --    0.00%
47306                   --    0.00%
47307                   --    0.00%
47308                   --    0.00%
47708                   --    0.00%
47710                   --    0.00%
47711                   --    0.00%
47712                   --    0.00%
47713                   --    0.00%
47714                   --    0.00%
47715                   --    0.00%
47720                   --    0.00%
47725                   --    0.00%
47732                   --    0.00%
47750                   --    0.00%
47801                   --    0.00%
47802                   --    0.00%
47803                   --    0.00%
47804                   --    0.00%
47805            77,928.75    0.01%
47807                   --    0.00%
47808                   --    0.00%
47809                   --    0.00%
47811                   --    0.00%
47812                   --    0.00%
47813                   --    0.00%
47814                   --    0.00%
48201                   --    0.00%
48202           182,028.37    0.02%
48203            71,937.38    0.01%
48204           235,803.85    0.03%
48205           427,426.34    0.05%
48206                   --    0.00%
48207                   --    0.00%
48208                   --    0.00%
48209                   --    0.00%
48210            67,232.75    0.01%
48211                   --    0.00%
48212            74,609.17    0.01%
48213           125,241.82    0.02%
48214                   --    0.00%
48215            53,928.48    0.01%
48216                   --    0.00%
48217                   --    0.00%
48218                   --    0.00%
48219           439,234.77    0.05%
48220            97,315.62    0.01%
48221           266,710.61    0.03%
48223                   --    0.00%
48224           244,539.21    0.03%
48225                   --    0.00%
48226                   --    0.00%
48227            64,501.40    0.01%
48228           126,081.43    0.02%
48229                   --    0.00%
48230                   --    0.00%
48233                   --    0.00%
48234           109,880.39    0.01%
48235           210,686.80    0.03%
48236                   --    0.00%
48237           149,276.24    0.02%
48238            50,945.21    0.01%
48239           207,161.60    0.02%
48240            87,325.08    0.01%
48242                   --    0.00%
48243                   --    0.00%
48502                   --    0.00%
48503                   --    0.00%
48504            59,071.55    0.01%
48505                   --    0.00%
48506                   --    0.00%
48507                   --    0.00%
48509                   --    0.00%
48519                   --    0.00%
48529                   --    0.00%
48532           116,159.18    0.01%
48559                   --    0.00%
48601                   --    0.00%
48602            55,224.89    0.01%
48603           145,527.10    0.02%
48604                   --    0.00%
48605                   --    0.00%
48606                   --    0.00%
48607                   --    0.00%
48608                   --    0.00%
48609                   --    0.00%
48638                   --    0.00%
48663                   --    0.00%
50701                   --    0.00%
50702                   --    0.00%
50703                   --    0.00%
50704                   --    0.00%
50706                   --    0.00%
50707                   --    0.00%
51101                   --    0.00%
51102                   --    0.00%
51103                   --    0.00%
51104                   --    0.00%
51105                   --    0.00%
51106                   --    0.00%
51108                   --    0.00%
51109                   --    0.00%
51111                   --    0.00%
57103                   --    0.00%
57104                   --    0.00%
57105                   --    0.00%
57106                   --    0.00%
57107                   --    0.00%
57108                   --    0.00%
57110                   --    0.00%
57198                   --    0.00%
60901            78,665.42    0.01%
61101                   --    0.00%
61102                   --    0.00%
61103                   --    0.00%
61104                   --    0.00%
61105                   --    0.00%
61106                   --    0.00%
61107                   --    0.00%
61108           103,320.07    0.01%
61109           181,460.96    0.02%
61110                   --    0.00%
61111           103,098.08    0.01%
61112                   --    0.00%
61114                   --    0.00%
61125                   --    0.00%
61126                   --    0.00%
71601                   --    0.00%
71602                   --    0.00%
71603                   --    0.00%
71611                   --    0.00%
71612                   --    0.00%
71613                   --    0.00%
76501                   --    0.00%
76502            84,684.66    0.01%
76503                   --    0.00%
76504                   --    0.00%
76505                   --    0.00%
76508                   --    0.00%
76540                   --    0.00%
76541                   --    0.00%
76542                   --    0.00%
76543                   --    0.00%
76544                   --    0.00%
76545                   --    0.00%
76546                   --    0.00%
76547                   --    0.00%
76548                   --    0.00%
76549            87,781.26    0.01%
77657                   --    0.00%
77701                   --    0.00%
77702                   --    0.00%
77703                   --    0.00%
77704                   --    0.00%
77705                   --    0.00%
77706           154,138.05    0.02%
77707                   --    0.00%
77708           122,285.90    0.01%
77709                   --    0.00%
77710                   --    0.00%
77713                   --    0.00%
77720                   --    0.00%
77725                   --    0.00%
77726                   --    0.00%
78501            94,264.19    0.01%
78502                   --    0.00%
78503                   --    0.00%
78504                   --    0.00%
78505                   --    0.00%
14602                   --    0.00%
14627                   --    0.00%
14638                   --    0.00%
14639                   --    0.00%
14642                   --    0.00%
14643                   --    0.00%
14644                   --    0.00%
14645                   --    0.00%
14646                   --    0.00%
14647                   --    0.00%
14649                   --    0.00%
14650                   --    0.00%
14651                   --    0.00%
14652                   --    0.00%
14653                   --    0.00%
14664                   --    0.00%
14673                   --    0.00%
14683                   --    0.00%
14692                   --    0.00%
16512                   --    0.00%
16514                   --    0.00%
16522                   --    0.00%
16530                   --    0.00%
16531                   --    0.00%
16532                   --    0.00%
16533                   --    0.00%
16534                   --    0.00%
16538                   --    0.00%
16553                   --    0.00%
16554                   --    0.00%
25706                   --    0.00%
25707                   --    0.00%
25708                   --    0.00%
25709                   --    0.00%
25710                   --    0.00%
25711                   --    0.00%
25712                   --    0.00%
25713                   --    0.00%
25714                   --    0.00%
25715                   --    0.00%
25716                   --    0.00%
25717                   --    0.00%
25718                   --    0.00%
25719                   --    0.00%
25720                   --    0.00%
25721                   --    0.00%
25722                   --    0.00%
25723                   --    0.00%
25724                   --    0.00%
25726                   --    0.00%
25728                   --    0.00%
25729                   --    0.00%
25755                   --    0.00%
25770                   --    0.00%
25771                   --    0.00%
25772                   --    0.00%
25773                   --    0.00%
25774                   --    0.00%
25775                   --    0.00%
25776                   --    0.00%
25777                   --    0.00%
25778                   --    0.00%
29202                   --    0.00%
29224                   --    0.00%
29602                   --    0.00%
29603                   --    0.00%
29604                   --    0.00%
29606                   --    0.00%
29608                   --    0.00%
29610                   --    0.00%
29612                   --    0.00%
29613                   --    0.00%
29614                   --    0.00%
29616                   --    0.00%
32121                   --    0.00%
37501                   --    0.00%
37544                   --    0.00%
38101                   --    0.00%
38110                   --    0.00%
38113                   --    0.00%
38124                   --    0.00%
38129                   --    0.00%
38130                   --    0.00%
38136                   --    0.00%
38140                   --    0.00%
38142                   --    0.00%
38143                   --    0.00%
38145                   --    0.00%
38146                   --    0.00%
38147                   --    0.00%
38148                   --    0.00%
38150                   --    0.00%
38151                   --    0.00%
38152                   --    0.00%
38159                   --    0.00%
38161                   --    0.00%
38163                   --    0.00%
38165                   --    0.00%
38166                   --    0.00%
38167                   --    0.00%
38168                   --    0.00%
38173                   --    0.00%
38174                   --    0.00%
38175                   --    0.00%
38177                   --    0.00%
38181                   --    0.00%
38182                   --    0.00%
38183                   --    0.00%
38184                   --    0.00%
38186                   --    0.00%
38187                   --    0.00%
38188                   --    0.00%
38190                   --    0.00%
38193                   --    0.00%
38194                   --    0.00%
38195                   --    0.00%
38197                   --    0.00%
39205                   --    0.00%
39207                   --    0.00%
39210                   --    0.00%
39215                   --    0.00%
39217                   --    0.00%
39225                   --    0.00%
39235                   --    0.00%
39236                   --    0.00%
39250                   --    0.00%
39269                   --    0.00%
39271                   --    0.00%
39282                   --    0.00%
39284                   --    0.00%
39286                   --    0.00%
39288                   --    0.00%
39289                   --    0.00%
39296                   --    0.00%
43216                   --    0.00%
43218                   --    0.00%
43234                   --    0.00%
43236                   --    0.00%
43251                   --    0.00%
43260                   --    0.00%
43265                   --    0.00%
43266                   --    0.00%
43268                   --    0.00%
43270                   --    0.00%
43271                   --    0.00%
43272                   --    0.00%
43279                   --    0.00%
43287                   --    0.00%
43291                   --    0.00%
43299                   --    0.00%
43603                   --    0.00%
43635                   --    0.00%
43652                   --    0.00%
43654                   --    0.00%
43656                   --    0.00%
43657                   --    0.00%
43660                   --    0.00%
43661                   --    0.00%
43666                   --    0.00%
43667                   --    0.00%
43681                   --    0.00%
43682                   --    0.00%
43697                   --    0.00%
44101                   --    0.00%
44178                   --    0.00%
44181                   --    0.00%
45201                   --    0.00%
45221                   --    0.00%
45222                   --    0.00%
45234                   --    0.00%
45235                   --    0.00%
45250                   --    0.00%
45253                   --    0.00%
45254                   --    0.00%
45258                   --    0.00%
45262                   --    0.00%
45263                   --    0.00%
45264                   --    0.00%
45267                   --    0.00%
45268                   --    0.00%
45269                   --    0.00%
45270                   --    0.00%
45271                   --    0.00%
45273                   --    0.00%
45274                   --    0.00%
45275                   --    0.00%
45277                   --    0.00%
45280                   --    0.00%
45296                   --    0.00%
45298                   --    0.00%
45299                   --    0.00%
45944                   --    0.00%
46206                   --    0.00%
46207                   --    0.00%
46209                   --    0.00%
46211                   --    0.00%
46223                   --    0.00%
46230                   --    0.00%
46242                   --    0.00%
46244                   --    0.00%
46247                   --    0.00%
46249                   --    0.00%
46251                   --    0.00%
46253                   --    0.00%
46255                   --    0.00%
46266                   --    0.00%
46274                   --    0.00%
46277                   --    0.00%
46283                   --    0.00%
46285                   --    0.00%
46291                   --    0.00%
46295                   --    0.00%
46296                   --    0.00%
46604                   --    0.00%
46620                   --    0.00%
46624                   --    0.00%
46626                   --    0.00%
46634                   --    0.00%
46660                   --    0.00%
46680                   --    0.00%
46801                   --    0.00%
46850                   --    0.00%
46851                   --    0.00%
46852                   --    0.00%
46853                   --    0.00%
46854                   --    0.00%
46855                   --    0.00%
46856                   --    0.00%
46858                   --    0.00%
46859                   --    0.00%
46860                   --    0.00%
46861                   --    0.00%
46862                   --    0.00%
46863                   --    0.00%
46864                   --    0.00%
46865                   --    0.00%
46866                   --    0.00%
46867                   --    0.00%
46868                   --    0.00%
46869                   --    0.00%
46885                   --    0.00%
46895                   --    0.00%
46896                   --    0.00%
46897                   --    0.00%
46898                   --    0.00%
46899                   --    0.00%
47701                   --    0.00%
47702                   --    0.00%
47703                   --    0.00%
47704                   --    0.00%
47705                   --    0.00%
47706                   --    0.00%
47716                   --    0.00%
47719                   --    0.00%
47721                   --    0.00%
47722                   --    0.00%
47724                   --    0.00%
47727                   --    0.00%
47728                   --    0.00%
47730                   --    0.00%
47731                   --    0.00%
47733                   --    0.00%
47734                   --    0.00%
47735                   --    0.00%
47736                   --    0.00%
47737                   --    0.00%
47739                   --    0.00%
47740                   --    0.00%
47741                   --    0.00%
47744                   --    0.00%
47747                   --    0.00%
48222                   --    0.00%
48231                   --    0.00%
48232                   --    0.00%
48244                   --    0.00%
48255                   --    0.00%
48260                   --    0.00%
48264                   --    0.00%
48265                   --    0.00%
48266                   --    0.00%
48267                   --    0.00%
48268                   --    0.00%
48269                   --    0.00%
48272                   --    0.00%
48275                   --    0.00%
48277                   --    0.00%
48278                   --    0.00%
48279                   --    0.00%
48288                   --    0.00%
48501                   --    0.00%
48531                   --    0.00%
48550                   --    0.00%
48551                   --    0.00%
48552                   --    0.00%
48553                   --    0.00%
48554                   --    0.00%
48555                   --    0.00%
48556                   --    0.00%
48557                   --    0.00%
57101                   --    0.00%
57109                   --    0.00%
57117                   --    0.00%
57118                   --    0.00%
57186                   --    0.00%
57188                   --    0.00%
57189                   --    0.00%
57192                   --    0.00%
57193                   --    0.00%
57194                   --    0.00%
57195                   --    0.00%
57196                   --    0.00%
57197                   --    0.00%
TOTAL        12,213,501.90    1.46%

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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                                 MORGAN STANLEY
                             IXIS 2006-HE3 Termsheet
                                   All records
                                  4,207 records
                              Balance: 834,934,301

TABLE OF CONTENTS



1. Debt to Income of 30 40 Mortgage Loans
2. FICO Scores of 30 40 Mortgage Loans
3. Documentation Type of 30 40 Mortgage Loans
4. Originator of 30 40 Mortgage Loans


1. DEBT TO INCOME OF 30 40 MORTGAGE LOANS



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                       AGGREGATE    AGGREGATE              WEIGHTED  WEIGHTED
                           NUMBER       CUT-OFF      CUT-OFF                AVERAGE   AVERAGE  WEIGHTED  WEIGHTED
                             OF          DATE          DATE                  GROSS   COMBINED   AVERAGE   AVERAGE
DEBT TO INCOME OF 30      MORTGAGE     PRINCIPAL    PRINCIPAL      AVG     INTEREST  ORIGINAL    FICO       DTI
40 MORTGAGE LOANS           LOANS     BALANCE ($)    BALANCE     BALANCE   RATE (%)     LTV      SCORE     BACK
--------------------      --------  --------------  ---------  ----------  --------  --------  --------  --------

5.01 - 10.00                     3      753,302.09       0.28  251,100.70     8.147     72.83       585      6.48
10.01 - 15.00                    5      805,203.69       0.30  161,040.74     8.275     80.86       619     12.99
15.01 - 20.00                    7    1,622,403.85       0.60  231,771.98     7.772     66.50       604     19.03
20.01 - 25.00                   20    3,483,035.29       1.28  174,151.76     8.534     73.56       598     22.50
25.01 - 30.00                   36    8,690,194.58       3.19  241,394.29     8.246     79.32       637     28.10
30.01 - 35.00                   88   17,566,593.34       6.44  199,620.38     8.409     76.13       609     32.64
35.01 - 40.00                  136   33,520,717.01      12.30  246,475.86     8.250     79.22       615     37.63
40.01 - 45.00                  283   73,506,275.76      26.96  259,739.49     8.265     79.40       631     42.81
45.01 - 50.00                  376  102,784,805.26      37.70  273,363.84     8.229     81.84       629     47.66
50.01 - 55.00                  104   26,122,515.48       9.58  251,178.03     8.265     80.29       609     52.55
55.01 - 60.00                    9    3,749,927.03       1.38  416,658.56     7.565     81.59       653     57.96
                             -----  --------------     ------  ----------     -----     -----       ---     -----
TOTAL:                       1,067  272,604,973.38     100.00  255,487.32     8.249     80.03       625     43.43
                             -----  --------------     ------  ----------     -----     -----       ---     -----


2. FICO SCORES OF 30 40 MORTGAGE LOANS



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                       AGGREGATE    AGGREGATE              WEIGHTED  WEIGHTED
                           NUMBER       CUT-OFF      CUT-OFF                AVERAGE   AVERAGE  WEIGHTED
                             OF          DATE          DATE                  GROSS   COMBINED   AVERAGE
FICO SCORES OF 30         MORTGAGE     PRINCIPAL    PRINCIPAL      AVG     INTEREST  ORIGINAL    FICO
40 MORTGAGE LOANS           LOANS     BALANCE ($)    BALANCE     BALANCE   RATE (%)     LTV      SCORE
-----------------         --------  --------------  ---------  ----------  --------  --------  --------

500 - 524                       63   12,371,257.03       4.54  196,369.16     9.479     73.82       511
525 - 549                       67   14,099,093.48       5.17  210,434.23     8.846     72.17       537
550 - 574                      103   24,944,051.11       9.15  242,175.25     8.706     78.00       562
575 - 599                      148   35,099,517.67      12.88  237,158.90     8.497     80.53       588
600 - 624                      187   46,294,213.32      16.98  247,562.64     8.174     80.93       612
625 - 649                      214   55,430,787.75      20.33  259,022.37     8.085     81.06       636
650 - 674                      127   36,897,980.75      13.54  290,535.28     7.952     81.49       660
675 - 699                       64   19,645,693.05       7.21  306,963.95     7.776     80.41       687
700 - 724                       51   15,278,895.24       5.60  299,586.18     7.926     83.49       710
725 - 749                       24    7,254,686.91       2.66  302,278.62     7.931     80.97       736
750 - 774                       13    3,652,115.63       1.34  280,931.97     7.628     80.54       760
775 - 799                        5    1,517,922.15       0.56  303,584.43     7.324     79.15       787
800 +                            1      118,759.29       0.04  118,759.29     7.375     90.00       814
                             -----  --------------     ------  ----------     -----     -----       ---
TOTAL:                       1,067  272,604,973.38     100.00  255,487.32     8.249     80.03       625
                             -----  --------------     ------  ----------     -----     -----       ---


Non-Zero Minimum:          500
Maximum:                   814
Non-Zero Weighted Average: 625

3. DOCUMENTATION TYPE OF 30 40 MORTGAGE LOANS



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                       AGGREGATE    AGGREGATE  WEIGHTED  WEIGHTED
                           NUMBER       CUT-OFF      CUT-OFF    AVERAGE   AVERAGE  WEIGHTED
                             OF          DATE          DATE      GROSS   COMBINED   AVERAGE
DOCUMENTATION TYPE OF 30  MORTGAGE     PRINCIPAL    PRINCIPAL  INTEREST  ORIGINAL    FICO
40 MORTGAGE LOANS           LOANS     BALANCE ($)    BALANCE   RATE (%)     LTV      SCORE
------------------------  --------  --------------  ---------  --------  --------  --------

Full                           464  108,243,570.84      39.71     8.044     80.72       607
Stated                         568  154,838,946.02      56.80     8.399     79.56       638
Limited                         35    9,522,456.52       3.49     8.136     79.82       607
                             -----  --------------     ------     -----     -----       ---
TOTAL:                       1,067  272,604,973.38     100.00     8.249     80.03       625
                             -----  --------------     ------     -----     -----       ---


4. ORIGINATOR OF 30 40 MORTGAGE LOANS



                                                       % OF
                                                     MORTGAGE
                                                     POOL BY
                                       AGGREGATE    AGGREGATE  WEIGHTED  WEIGHTED
                           NUMBER       CUT-OFF      CUT-OFF    AVERAGE   AVERAGE  WEIGHTED
                             OF          DATE          DATE      GROSS   COMBINED   AVERAGE
ORIGINATOR OF 30          MORTGAGE     PRINCIPAL    PRINCIPAL  INTEREST  ORIGINAL    FICO
40 MORTGAGE LOANS           LOANS     BALANCE ($)    BALANCE   RATE (%)     LTV      SCORE
------------------------  --------  --------------  ---------  --------  --------  --------

Accredited                     188   42,593,701.65      15.62     8.494     77.96      620
Chapel                           2      361,171.30       0.13     8.175     77.91      637
Encore                          90   27,335,776.68      10.03     8.255     81.82      627
First Banc                       7    1,463,971.07       0.54     8.404     79.92      580
First Horizon                   11    1,817,203.82       0.67     9.118     83.93      620
First NLC                      391   94,462,808.71      34.65     8.063     80.49      631
Flex Point                       6    1,897,463.75       0.70     8.957     75.56      589
Funding America                  2      484,962.04       0.18     8.724     82.49      595
Lenders Direct                   7    2,100,621.71       0.77      8.01     77.03      602
Lime Financial                  11    2,640,505.20       0.97     8.267     83.80      624
Mandalay                         7    1,661,368.27       0.61     7.111     77.24      642
Master Financial                54   18,484,990.64       6.78      8.13     81.18      624
Maxim                            3      830,664.11       0.30     8.592     81.15      583
New Century                    259   68,007,428.56      24.95      8.39     79.61      623
Rose Mortgage                   29    8,462,335.87       3.10     8.036     80.60      601
                             -----  --------------     ------     -----     -----      ---
TOTAL:                       1,067  272,604,973.38     100.00     8.249     80.03      625
                             -----  --------------     ------     -----     -----      ---


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



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                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                   ALL RECORDS
                                  4,207 RECORDS
                              BALANCE: 834,934,301

                                TABLE OF CONTENTS

1. Debt to Income of IO Mortgage Loans
2. FICO Scores of IO Mortgage Loans
3. Documentation Type of IO Mortgage Loans
4. Originator of IO Mortgage Loans

1. DEBT TO INCOME OF IO MORTGAGE LOANS



                                                                     % OF
                                                                   MORTGAGE
                                                                   POOL BY
                                                    AGGREGATE     AGGREGATE                WEIGHTED   WEIGHTED
                                       NUMBER        CUT-OFF       CUT-OFF                  AVERAGE    AVERAGE   WEIGHTED   WEIGHTED
                                         OF           DATE           DATE                    GROSS    COMBINED    AVERAGE   AVERAGE
                                      MORTGAGE      PRINCIPAL     PRINCIPAL       AVG      INTEREST   ORIGINAL     FICO        DTI
DEBT TO INCOME OF IO MORTGAGE LOANS    LOANS       BALANCE ($)     BALANCE      BALANCE    RATE (%)     LTV        SCORE      BACK
-----------------------------------   --------   --------------   ---------   ----------   --------   --------   --------   --------

<= 0.00                                      2       596,720.00        0.37   298,360.00      7.965      80.00        657       0.00
15.01 - 20.00                                3       495,059.00        0.30   165,019.67      8.754      83.29        633      17.50
20.01 - 25.00                                8     2,282,572.00        1.40   285,321.50      7.407      81.94        636      22.49
25.01 - 30.00                               16     4,441,604.00        2.73   277,600.25      7.572      78.70        658      27.48
30.01 - 35.00                               29     8,904,136.78        5.48   307,039.20      7.828      80.17        640      33.01
35.01 - 40.00                               72    22,425,367.46       13.80   311,463.44      7.573      80.12        659      37.96
40.01 - 45.00                              168    50,835,573.89       31.28   302,592.70      7.726      80.83        664      42.90
45.01 - 50.00                              199    62,519,642.68       38.47   314,169.06      7.878      80.66        660      47.60
50.01 - 55.00                               32     9,367,330.06        5.76   292,729.06      7.623      81.01        656      51.72
55.01 - 60.00                                2       640,000.00        0.39   320,000.00      8.693      80.00        617      57.37
                                           ---   --------------      ------   ----------      -----      -----        ---      -----
TOTAL:                                     531   162,508,005.87      100.00   306,041.44      7.762      80.60        659      43.27
                                           ===   ==============      ======   ==========      =====      =====        ===      =====


2. FICO SCORES OF IO MORTGAGE LOANS



                                                                     % OF
                                                                   MORTGAGE
                                                                   POOL BY
                                                    AGGREGATE     AGGREGATE                WEIGHTED   WEIGHTED
                                       NUMBER        CUT-OFF       CUT-OFF                  AVERAGE    AVERAGE   WEIGHTED
                                         OF           DATE           DATE                    GROSS    COMBINED    AVERAGE
                                      MORTGAGE      PRINCIPAL     PRINCIPAL       AVG      INTEREST   ORIGINAL     FICO
FICO SCORES OF IO MORTGAGE LOANS       LOANS       BALANCE ($)     BALANCE      BALANCE    RATE (%)      LTV       SCORE
--------------------------------      --------   --------------   ---------   ----------   --------   --------   --------

500 - 524                                    1       216,000.00        0.13   216,000.00      7.500      90.00        519
550 - 574                                    1       249,324.86        0.15   249,324.86      9.750      51.55        553
575 - 599                                   14     4,104,954.55        2.53   293,211.04      7.251      78.26        586
600 - 624                                  120    36,833,313.71       22.67   306,944.28      7.863      81.93        613
625 - 649                                  117    34,552,231.17       21.26   295,318.22      7.784      79.39        637
650 - 674                                  112    35,014,895.33       21.55   312,632.99      7.769      80.25        661
675 - 699                                   78    24,286,112.94       14.94   311,360.42      7.775      80.75        685
700 - 724                                   40    11,756,962.99        7.23   293,924.07      7.630      80.60        711
725 - 749                                   24     6,839,742.27        4.21   284,989.26      7.500      82.33        735
750 - 774                                   15     5,052,000.42        3.11   336,800.03      7.912      81.61        763
775 - 799                                    7     2,978,520.00        1.83   425,502.86      7.641      80.37        782
800 +                                        2       623,947.63        0.38   311,973.82      7.135      80.00        806
                                           ---   --------------      ------   ----------      -----      -----        ---
TOTAL:                                     531   162,508,005.87      100.00   306,041.44      7.762      80.60        659
                                           ===   ==============      ======   ==========      =====      =====        ===


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

3. DOCUMENTATION TYPE OF IO MORTGAGE LOANS



                                                                     % OF
                                                                   MORTGAGE
                                                                   POOL BY
                                                    AGGREGATE     AGGREGATE   WEIGHTED   WEIGHTED
                                       NUMBER        CUT-OFF       CUT-OFF     AVERAGE    AVERAGE   WEIGHTED
                                         OF           DATE           DATE       GROSS    COMBINED    AVERAGE
DOCUMENTATION TYPE OF IO MORTGAGE     MORTGAGE      PRINCIPAL     PRINCIPAL   INTEREST   ORIGINAL     FICO
LOANS                                  LOANS       BALANCE ($)     BALANCE    RATE (%)      LTV       SCORE
---------------------------------     --------   --------------   ---------   --------   --------   --------

Full                                       208    60,521,992.57       37.24      7.396      81.32        646
Stated                                     296    92,734,578.62       57.06      8.025      80.07        668
Limited                                     27     9,251,434.68        5.69      7.520      81.22        650
                                           ---   --------------      ------      -----      -----        ---
TOTAL:                                     531   162,508,005.87      100.00      7.762      80.60        659
                                           ===   ==============      ======      =====      =====        ===


4. ORIGINATOR OF IO MORTGAGE LOANS



                                                                     % OF
                                                                   MORTGAGE
                                                                   POOL BY
                                                    AGGREGATE     AGGREGATE   WEIGHTED   WEIGHTED
                                       NUMBER        CUT-OFF       CUT-OFF     AVERAGE    AVERAGE   WEIGHTED
                                         OF           DATE           DATE       GROSS    COMBINED    AVERAGE
                                      MORTGAGE      PRINCIPAL     PRINCIPAL   INTEREST   ORIGINAL     FICO
ORIGINATOR OF IO MORTGAGE LOANS        LOANS       BALANCE ($)     BALANCE    RATE (%)      LTV       SCORE
---------------------------------     --------   --------------   ---------   --------   --------   --------

Accredited                                  49    13,082,792.45        8.05      7.589      79.01        671
Chapel                                       6     1,885,075.19        1.16      7.535      80.00        652
Encore                                      37    13,880,070.46        8.54      7.604      78.81        665
First Banc                                  19     5,514,934.89        3.39      7.688      80.26        633
First Horizon                               16     5,181,741.00        3.19      8.844      84.22        664
First NLC                                  212    61,420,801.09       37.80      7.898      80.40        664
Flex Point                                   3       737,763.86        0.45      8.152      72.49        607
Funding America                              4     1,241,600.00        0.76      7.255      80.00        664
Lenders Direct                               5     1,831,995.84        1.13      7.821      80.12        648
Lime Financial                              12     4,453,000.00        2.74      7.554      80.00        657
Mandalay                                     7     1,907,952.18        1.17      7.687      80.02        673
Master Financial                            32    11,908,629.94        7.33      7.740      83.40        663
New Century                                107    31,578,148.97       19.43      7.566      81.46        651
Quick Loan                                   3       933,500.00        0.57      7.240      77.18        642
Rose Mortgage                               19     6,950,000.00        4.28      7.702      80.03        637
                                           ---   --------------      ------      -----      -----        ---
TOTAL:                                     531   162,508,005.87      100.00      7.762      80.60        659
                                           ===   ==============      ======      =====      =====        ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



FORTIS SECURITIES LLC

Deal Name IXIS 2006-HE3
Settle
S&P Expected Loss
Moodys Expected Loss

COLLATERAL



Age                      3
Notional Bal   834,934,301
Gross Wac            8.458
Net Wac              7.938
WA MTR                  23
Max Rate            15.071
Gross Margin         6.361
FICO                   626
CLTV                 80.13




                    %      FICO    CLTV
                 -------   ----   -----

% FICO < 625       47.59%   577   78.30
% FICO < 550       12.02%   525   72.60
CLTV > 90%          9.29%   648   97.23
IO Loans           19.46%   659   80.60
40 YR Loans
Fixed              13.20%   631   82.69
Float              86.80%   625   79.74
% Cali             32.46%   641   80.11
Avg Bal          198,463
Purchase           42.77%   656   82.85
Other              57.23%   604   78.10
Owner              92.54%   624   79.97
Other               7.46%   652   82.07
Full Doc's         41.02%   607   80.02
Lite                4.31%   619   81.92
Other              54.68%   641   80.07
1st Liens          96.51%   625   79.43
2nd Liens           3.49%   657   99.52
Simultaneous 2nds  37.72%   658   80.13
DTI                42.79
PP0                25.99%   624   80.89
PP1                 8.16%   646   78.59
PP2                44.64%   628   80.10
PP3                19.66%   619   80.08
PP5                 0.94%   580   76.52


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors In the UK, this communication is
directed in the UK to those persons who are market counterparties or
intermediate customers (as defined in the UK Financial Services Authority's
rules). In Japan, this communication is directed to the sophisticated
institutional investors as defined under the Foreign Broker Dealer Law of Japan
and the ordinances thereunder. The trademarks and service marks contained herein
are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



DEAL INFO V1.4

DEAL NAME            IXIS 2006-HE3
BLOOMBERG TICKER:
ASSET CLASS:           Subprime
ISSUER:             Morgan Stanley
TRUSTEE:
LEAD MANAGER(S)
MONTH:
   To Roll                  23
   Remaining Term          351
   Remaining IO Term        57
% INTEREST ONLY          19.46

INSTRUCTIONS

1.)  Cells in red font are calculations and should be left alone.

2.)  Please put averages in gray cells at the bottom of each bucket.

3.)  In each stratification under WA Collateral Characteristics please indicate
     the % of that row NOT % of deal.



MASTER SERVICER:   Please total the following states: GA, IL, IN, MI, MS, ND, OH, SC, TN, TX AND UT   131,827,502.85


BACKUP SERVICER:



PRIMARY SERVICER (S):     %           NAME         ORIGINATOR (S):     %           NAME         FICO BY ORIGINATOR
---------------------   ----    ----------------   ----------------  -----   ----------------   ------------------

                    1   94.04%  Saxon                            1   39.01%  First NLC
                    2    5.96%  Master Financial                 2   16.42%  New Century
                    3                                            3   12.16%  Accredited
                    4                                            4    9.80%  Encore
                    5                                            5    5.96%  Master Financial
                    6                                            6
                    7                                            7
                    8                                            8
                    9                                            9
                   10                                           10


NEW TO V1.8

1.)  ROWS 227-245 "SILENT & SIMULTANEOUS SECONDS BUCKET "

2.)  261-C TYPE OF PREPAYMENT PENALTY

                                   FICO BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
FICO              # LOANS     BALANCE         %    WA LOAN BALANCE    WAC   FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------   -----  ----  -----  -----  -------  ------

NA
<=500                  13    1,982,483.00    0.24%      152,498.69   9.838   500  72.18  43.10   100.00  100.00
>500 <=520            226   36,928,474.34    4.42%      163,400.33   9.506   510  72.32  42.50    98.81   90.18
>520 <=540            235   40,880,616.22    4.90%      173,960.07   9.412   530  72.08  41.84    98.11   90.28
>540 <=560            269   46,680,583.46    5.59%      173,533.77   9.088   551  76.23  42.48    96.95   88.79
>560 <=580            298   56,804,400.06    6.80%      190,618.79   8.837   571  78.07  42.32    97.06   92.37
>580 <=600            387   70,194,614.65    8.41%      181,381.43   8.614   591  80.35  42.63    92.80   88.78
>600 <=620            561  113,172,024.94   13.55%      201,732.66   8.355   610  81.53  42.42    93.39   87.28
>620 <=640            692  137,268,036.12   16.44%      198,364.21   8.354   630  81.54  42.93    94.30   84.32
>640 <=660            538  111,780,792.35   13.39%      207,770.99   8.235   650  81.79  43.48    90.02   81.62
>660 <=680            390   82,802,760.40    9.92%      212,314.77   8.085   670  81.45  43.35    89.06   80.19
>680 <=700            237   54,457,129.48    6.52%      229,776.92   8.059   690  81.52  42.86    87.59   74.63
>700 <=750            271   59,589,575.62    7.14%      219,887.73   8.026   721  82.89  42.77    85.82   77.61
>750                   90   22,392,810.52    2.68%      248,809.01   7.879   771  81.49  42.58    90.05   77.64
                     ----  --------------  ------       ----------   -----   ---  -----  -----   ------  ------
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====   ======  ======


                               WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------------------
FICO              REFI CACHOUT  FULL DOC  INTEREST ONLY   MI%   SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----  -----------  ---------

NA
<=500                    88.53     84.89           0.00   0.00         0.00      15.65
>500 <=520               90.42     66.96           0.58   0.00         2.20      27.27
>520 <=540               85.06     56.38           0.00   0.00         3.30      28.04
>540 <=560               79.35     57.70           0.53   0.00         4.34      32.35
>560 <=580               82.42     52.82           2.94   0.00         6.82      40.51
>580 <=600               69.52     55.15           5.11   0.00        15.99      40.53
>600 <=620               54.75     53.08          24.58   0.00        32.38      30.55
>620 <=640               45.46     37.05          21.76   0.00        41.58      35.57
>640 <=660               43.02     29.35          27.93   0.00        47.75      32.50
>660 <=680               36.60     24.12          29.24   0.00        55.04      28.89
>680 <=700               31.85     25.79          32.56   0.00        53.84      26.37
>700 <=750               19.45     25.61          29.77   0.00        60.01      37.02
>750                     16.31     19.27          36.59   0.00        56.61      22.65
                         -----     -----          -----   ----        -----      -----
TOTAL:                   52.45     41.02          19.46   0.00        34.70      32.76
                         =====     =====          =====   ====        =====      =====




FICO MEAN: 626   MEDIAN: 624    STANDARD DEVIATION: 59.49


                    LTV BUCKET (LTV SHOULD BE CALCULATED AS:
                  LTV FOR FIRST LIEN AND CLTV FOR SECOND LIEN)



                             DEAL SIZE                               WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   --------------------------------------------
CLTV              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV   % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  ------  -----  -------  ------

<=50                  133   20,566,599.52    2.46%      154,636.09   8.107   598   40.99  39.87    91.96   81.42
>50 <=55               53    9,792,664.38    1.17%      184,767.25   8.349   581   52.87  40.96    80.96   80.78
>55 <=60               72   11,824,392.72    1.42%      164,227.68   7.977   593   57.94  41.92    97.10   83.48
>60 <=65              122   23,050,855.01    2.76%      188,941.43   8.603   574   63.37  40.86    92.35   87.72
>65 <=70              192   37,536,121.93    4.50%      195,500.64   8.710   581   68.87  42.02    92.17   79.37
>70 <=75              288   60,082,262.23    7.20%      208,618.97   8.471   580   73.95  42.35    95.60   87.27
>75 <=80             1759  408,554,736.57   48.93%      232,265.34   8.082   643   79.84  43.26    95.89   83.43
>80 <=85              437   87,800,198.45   10.52%      200,915.79   8.668   606   84.51  42.14    87.74   86.70
>85 <=90              449   98,133,687.14   11.75%      218,560.55   8.684   627   89.55  43.00    85.72   84.12
>90 <=95              194   39,254,352.82    4.70%      202,342.02   8.969   643   94.65  42.79    76.58   90.56
>95 <100               40    3,444,353.88    0.41%       86,108.85   9.666   645   98.50  43.32   100.00   90.87
>=100                 468   34,894,076.51    4.18%       74,559.99  11.020   653  100.00  43.52    99.04   85.10
                     ----  --------------  ------       ----------  ------   ---  ------  -----   ------   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626   80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========  ======   ===  ======  =====   ======   =====


                               WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------------------
CLTV              REFI CACHOUT  FULL DOC  INTEREST ONLY   MI%   SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----  -----------  ---------

<=50                     89.72     49.13           6.42   0.00         1.94      26.27
>50 <=55                 90.80     52.98          13.30   0.00         0.00      26.12
>55 <=60                 92.43     52.23           5.84   0.00         1.98      37.19
>60 <=65                 92.85     45.59           7.61   0.00         0.00      27.91
>65 <=70                 88.97     43.85           6.79   0.00         1.59      25.61
>70 <=75                 86.91     52.36           7.86   0.00         3.78      31.93
>75 <=80                 32.45     33.71          27.77   0.00        67.18      36.20
>80 <=85                 77.26     47.64          14.31   0.00         5.79      30.02
>85 <=90                 66.65     46.88          17.99   0.00         5.74      33.78
>90 <=95                 51.87     59.42          15.66   0.00         2.56      38.97
>95 <100                 23.98     57.46           0.00   0.00         0.00       8.30
>=100                    16.16     33.56           0.95   0.00         0.00       8.55
                         -----     -----          -----   ----        -----      -----
TOTAL:                   52.45     41.02          19.46   0.00        34.70      32.76
                         =====     =====          =====   ====        =====      =====




CLTV MEAN: 80.13   MEDIAN: 80.00   STANDARD DEVIATION: 12.46   CLTV =80: 43.05   % SILENT SECONDS:      34.70
                                                               CLTV=100:  4.18   CLTV W/SILENT SECONDS: 86.82


 CLTV BUCKET (CLTV SHOULD BE CALCULATED AS: LTV FOR FIRST LIEN, CLTV FOR SECOND
                  LIEN PLUS ANY SIMULTANEOUS OR SILENT SECONDS)



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
LTV               # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO  %LTV   % DTI  PRIMARY  SF/PUD
---               -------  --------------  ------  ---------------   -----  ----  -----  -----  -------  ------

<=50                  132   20,167,124.60    2.42%      152,781.25   8.107   597  40.82  39.78    91.80   81.05
>50 <=55               53    9,792,664.38    1.17%      184,767.25   8.349   581  52.87  40.96    80.96   80.78
>55 <=60               71   11,590,853.63    1.39%      163,251.46   7.973   594  57.90  41.78    97.05   83.15
>60 <=65              122   23,050,855.01    2.76%      188,941.43   8.603   574  63.37  40.86    92.35   87.72
>65 <=70              190   36,938,986.62    4.42%      194,415.72   8.729   579  68.86  42.03    92.04   80.09
>70 <=75              280   58,446,358.07    7.00%      208,736.99   8.465   578  73.77  42.39    95.47   88.41
>75 <=80              628  134,073,219.04   16.06%      213,492.39   8.355   610  79.62  41.99    91.46   82.50
>80 <=85              412   83,279,910.04    9.97%      202,135.70   8.637   604  84.46  42.07    88.36   86.48
>85 <=90              428   97,225,263.49   11.64%      227,161.83   8.630   629  89.05  42.97    85.21   83.22
>90 <=95              254   54,268,770.09    6.50%      213,656.58   8.636   650  90.46  42.90    81.18   86.24
>95 <100              104   17,654,340.92    2.11%      169,753.28   8.451   646  84.41  44.87    99.54   85.94
>=100                1533  288,445,955.27   34.55%      188,157.83   8.364   658  82.55  43.79    98.16   84.58
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                               WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------------------
LTV               REFI CACHOUT  FULL DOC  INTEREST ONLY   MI%   SILENT 2ND%  % 40 YEAR
---               ------------  --------  -------------  -----  -----------  ---------

<=50                     89.52     50.10           6.55   0.00         0.00      26.79
>50 <=55                 90.80     52.98          13.30   0.00         0.00      26.12
>55 <=60                 94.30     53.29           5.95   0.00         0.00      37.94
>60 <=65                 92.85     45.59           7.61   0.00         0.00      27.91
>65 <=70                 90.41     44.00           5.84   0.00         0.00      26.03
>70 <=75                 88.72     53.29           6.37   0.00         1.08      32.20
>75 <=80                 64.41     37.03          16.02   0.00         0.00      33.38
>80 <=85                 81.87     49.31          14.16   0.00         0.68      31.49
>85 <=90                 69.52     45.21          17.81   0.00         4.86      33.82
>90 <=95                 48.79     50.99          22.87   0.00        29.52      35.10
>95 <100                 23.50     39.73          25.99   0.00        80.49      34.96
>=100                    14.09     32.49          29.12   0.00        87.90      33.71
                         -----     -----          -----   ----        -----      -----
TOTAL:                   52.45     41.02          19.46   0.00        34.70      32.76
                         =====     =====          =====   ====        =====      =====


                                   DTI BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
DTI               # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
---               -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

<=20                  106    7,101,392.31    2.05%      161,333.89   8.383   625  75.86  13.99    83.12   82.86
>20 <=25              111   16,047,340.10    1.92%      144,570.63   8.724   602  80.30  22.73    80.62   82.47
>25 <=30              192   31,652,725.51    3.79%      164,857.95   8.507   625  79.32  27.89    87.09   84.82
>30 <=35              319   55,348,836.09    6.63%      173,507.32   8.476   615  77.42  32.76    90.47   83.79
>35 <=40              574  104,558,477.41   12.52%      182,157.63   8.412   623  79.73  37.74    91.58   87.55
>40 <=45             1119  232,650,007.86   27.86%      207,908.85   8.425   634  80.20  42.78    95.26   83.04
>45 <=50             1392  295,759,293.23   35.42%      212,470.76   8.489   629  81.23  47.69    93.55   85.24
>50 <=55              368   74,787,971.48    8.96%      203,228.18   8.473   609  79.41  52.26    89.87   83.35
>55 <=60               26    7,028,257.17    0.84%      270,317.58   8.008   625  80.21  57.78    92.97   71.71
>60
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
DTI               REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
---               ------------  --------  -------------  -----------  ---------

<=20                     61.93     48.10           6.38        23.80      18.60
>20 <=25                 64.61     61.53          14.22         8.35      21.70
>25 <=30                 54.28     60.08          14.03        28.83      27.45
>30 <=35                 62.36     46.45          16.09        18.16      31.74
>35 <=40                 56.17     46.77          21.45        29.56      32.06
>40 <=45                 48.96     31.49          21.85        38.96      31.60
>45 <=50                 49.20     36.31          21.14        40.00      34.87
>50 <=55                 57.69     60.99          12.53        29.96      35.73
>55 <=60                 56.31     63.33           9.11        40.57      53.36
>60
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====




DTI MEAN: 42.79   MEDIAN: 43.9   STANDARD DEVIATION: 8.67


                                 PURPOSE BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
PURPOSE           # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
-------           -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

PURCHASE             1871  357,138,841.16   42.77%       90,881.26   8.464   656  82.85  43.36    91.51   80.45
REFI (CASH OUT)      2110  437,916,029.78   52.45%      207,543.14   8.465   603  77.84  42.40    93.28   87.57
REFI (NO CASH)
REFI (RATE TERM)     226    39,879,430.22    4.78%      176,457.66   8.331   614  80.94  41.84    93.51   85.35
CONSOLIDATION
OTHER
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
PURPOSE           REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
-------           ------------  --------  -------------  -----------  ---------

PURCHASE                           29.88          26.62        66.20      31.40
REFI (CASH OUT)         100.00     48.31          14.25        11.06      34.52
REFI (NO CASH)
REFI (RATE TERM)                   60.70          12.58        12.18      25.71
CONSOLIDATION
OTHER
                        ------     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                        ======     =====          =====        =====      =====


                                OCCUPANCY BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
OCC TYPE          # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
--------          -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

PRIMARY (OOC)        3860  772,614,335.34   92.54%      200,159.15   8.414   624  79.97  42.96   100.00   86.02
INVESTMENT            294   49,653,254.04    5.95%      168,888.62   9.026   652  81.90  39.87            62.34
2ND / VACATION         53   12,666,711.78    1.52%      238,994.56   8.902   652  82.77  43.72            73.17
RENTAL
OTHER
                     ----  --------------  ------       ----------   -----   ---  -----  -----   ------   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====   ======   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
OCC TYPE          REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
--------          ------------  --------  -------------  -----------  ---------

PRIMARY (OOC)            52.87     41.50          20.57        36.58      33.43
INVESTMENT               51.46     35.11           3.59         3.95      22.70
2ND / VACATION           30.46     34.62          14.23        40.73      31.44
RENTAL
OTHER
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


INVESTMENT LTV = 80: 15.33%

                              DOCUMENTATION BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
DOC TYPE          # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
--------          -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

FULL                 1897  342,451,104.45   41.02%      180,522.46   8.246   607  80.02  42.19    93.63   86.86
ALTERNATIVE
LIMITED               173   35,981,758.43    4.31%      207,987.04   8.300   619  81.92  39.66    88.61   89.19
STATED               2137  456,501,438.28   54.68%      213,617.89   8.630   641  80.07  43.49    92.03   82.21
NO RATIO
NINA
NO DOC
OTHER
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
DOC TYPE          REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
--------          ------------  --------  -------------  -----------  ---------

FULL                     61.77    100.00          17.67        27.11      31.65
ALTERNATIVE
LIMITED                  48.70                    25.71        34.85      26.46
STATED                   45.75                    20.31        40.38      34.10
NO RATIO
NINA
NO DOC
OTHER
                         -----    ------          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====    ======          =====        =====      =====


                                 PROPERTY BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
PROPERTY TYPE     # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
-------------     -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

SINGLE FAMILY        3358  640,465,570.39   76.71%      190,728.28   8.460   622  80.32  42.85    94.30  100.00
PUD                   216   53,080,620.23    6.36%      245,743.61   8.308   628  80.00  41.86    94.08  100.00
2-4 UNIT              300   78,056,396.73    9.35%      260,187.99   8.502   645  78.31  42.95    79.65
TOWNHOUSE              63   11,308,545.36    1.35%      179,500.72   8.498   621  79.03  43.47    94.99  100.00
CONDO                 270   52,023,168.45    6.23%      192,678.40   8.519   641  80.96  42.52    88.06
MH
OTHER
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----  ------
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====  ======


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
PROPERTY TYPE     REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
-------------     ------------  --------  -------------  -----------  ---------

SINGLE FAMILY            54.99     42.06          18.81        33.56      32.65
PUD                      46.47     42.50          23.41        44.08      36.96
2-4 UNIT                 48.97     31.73          16.92        32.81      28.71
TOWNHOUSE                58.55     48.95          25.15        39.33      21.07
CONDO                    31.14     38.86          26.09        40.95      38.52
MH
OTHER
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


                                PRINCIPAL BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
UPB               # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
---               -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

<=50                  248    9,283,423.98    1.11%       37,433.16  11.173   634  93.86  40.37    92.24   88.72
>50 <=75              368   23,374,010.94    2.80%       63,516.33  10.133   619  85.80  39.96    87.53   87.42
>75 <=100             411   36,041,775.80    4.32%       87,692.89   9.306   613  82.48  40.08    88.96   87.86
>100 <=125            446   50,423,050.06    6.04%      113,056.17   9.043   607  79.89  40.70    90.84   89.79
>125 <=150            401   55,346,959.13    6.63%      138,022.34   8.770   608  78.26  41.57    93.71   87.44
>150 <=200            697  121,896,329.50   14.60%      174,887.13   8.549   614  78.17  42.61    90.89   86.89
>200 <=250            520  116,547,962.17   13.96%      224,130.70   8.348   623  79.16  43.53    92.17   88.39
>250 <=300            346   94,951,722.34   11.37%      274,426.94   8.186   621  79.49  43.32    96.04   82.91
>300 <=350            240   77,684,212.99    9.30%      323,684.22   8.182   628  79.95  43.83    92.37   87.02
>350 <=400            164   61,651,946.90    7.38%      375,926.51   8.094   646  79.88  43.58    92.69   84.61
>400 <=450            122   51,768,201.03    6.20%      424,329.52   8.045   633  81.20  43.98    97.56   79.52
>450 <=500             97   46,417,074.87    5.56%      478,526.55   8.045   647  80.69  43.85    92.81   79.38
>500 <=600             89   48,760,140.16    5.84%      547,866.74   8.053   645  81.49  43.16    96.48   76.62
>600 <=700             34   21,963,801.28    2.63%      645,994.16   8.136   653  81.37  42.48    90.92   70.78
>=700                  24   18,823,690.01    2.25%      784,320.42   8.317   652  82.22  42.26    79.50   66.42
                     ----  --------------  ------       ----------  ------   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========  ======   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
UPB               REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
---               ------------  --------  -------------  -----------  ---------

<=50                     23.21     37.18           0.00         1.05       0.41
>50 <=75                 40.31     49.77           0.31        17.00       6.04
>75 <=100                45.48     53.24           2.44        22.29      10.07
>100 <=125               53.17     57.41           3.58        26.02      19.11
>125 <=150               55.27     51.61           4.98        28.88      27.86
>150 <=200               56.92     49.49          12.06        30.18      30.80
>200 <=250               55.16     40.35          19.34        32.26      30.66
>250 <=300               54.87     44.07          21.69        35.61      36.67
>300 <=350               59.63     30.01          20.17        32.41      36.98
>350 <=400               44.96     30.22          34.64        51.27      37.17
>400 <=450               49.80     28.59          30.29        47.80      45.25
>450 <=500               44.30     30.71          36.24        52.50      43.31
>500 <=600               49.55     32.53          35.39        42.53      42.07
>600 <=700               44.40     32.80          40.83        35.12      35.86
>=700                    66.25     39.27          18.12        31.56      62.45
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


*    IN $1,000

MIN 14,774   MAX 1,000,000

                          STATE CONCENTRATION BUCKET *



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
STATE*            # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
------            -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

CALIFORNIA            915  271,051,189.84   32.46%      296,230.81   8.166   641  80.11  43.43    93.29   84.18
FLORIDA               666  119,157,018.56   14.27%      178,914.44   8.545   622  79.54  42.90    89.69   86.75
ILLINOIS              323   57,253,943.39    6.86%      177,256.79   8.729   622  81.62  43.86    91.99   70.89
NEW YORK              139   41,732,227.21    5.00%      300,231.85   8.075   650  76.69  42.92    95.45   53.39
ARIZONA               175   31,983,040.45    3.83%      182,760.23   8.512   612  78.87  42.12    97.52   99.05
TEXAS                 267   26,645,529.27    3.19%       99,795.99   8.714   615  81.65  40.49    91.46   96.06
MARYLAND              115   25,717,947.22    3.08%      223,634.32   8.335   613  78.32  41.93    95.99   95.63
NEW JERSEY             78   20,673,940.41    2.48%      265,050.52   8.901   607  77.01  43.48    96.81   75.62
MASSACHUSETTS          90   20,615,446.77    2.47%      229,060.52   8.671   617  81.80  44.17    94.14   71.68
NEVADA                 93   19,876,786.01    2.38%      213,728.88   8.152   636  81.56  43.93    90.00   96.27
VIRGINIA               99   17,526,643.12    2.10%      177,036.80   8.716   608  78.29  43.44    95.05   96.51
WASHINGTON             87   16,283,977.29    1.95%      187,172.15   8.239   606  80.51  42.60    96.33   92.09
PENNSYLVANIA          125   15,389,416.62    1.84%      123,115.33   8.798   608  81.23  40.06    92.25   90.39
RHODE ISLAND           74   15,231,724.63    1.82%      205,834.12   8.545   617  79.23  42.97    96.81   68.84
CONNECTICUT            74   14,903,474.26    1.78%      201,398.30   8.554   616  78.40  44.29    99.25   71.47
OTHER                 887  120,891,996.11   14.48%      136,293.12   8.852   613  82.05  41.06    88.30   92.69
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
STATE*            REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
------            ------------  --------  -------------  -----------  ---------

CALIFORNIA               44.22     30.43          32.79        42.71      42.38
FLORIDA                  51.31     37.77          16.12        29.88      24.97
ILLINOIS                 58.11     36.71           7.46        31.05      34.86
NEW YORK                 51.02     33.61          17.12        36.08      33.05
ARIZONA                  60.90     39.29          23.99        31.48      38.50
TEXAS                    35.80     53.30           2.93        22.86       4.67
MARYLAND                 73.45     62.66          26.95        24.03      32.38
NEW JERSEY               72.44     46.58           8.67        14.20      29.16
MASSACHUSETTS            72.76     51.67           7.82        30.79      32.64
NEVADA                   43.35     34.80          32.34        48.43      37.48
VIRGINIA                 62.93     50.08          10.47        25.59      22.31
WASHINGTON               65.56     63.25           9.37        30.61      54.87
PENNSYLVANIA             58.94     59.09           3.26        21.32      18.00
RHODE ISLAND             65.85     29.40          14.29        27.82      16.30
CONNECTICUT              58.38     54.29           3.65        25.01      30.44
OTHER                    54.88     57.16           9.28        36.01      25.18
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


Total % of GA, IL, IN, MI, MS, ND, OH, SC, TN, TX AND UT   15.79%

*    Fill in top 15 states only, combine the remaining in the "Other" Bucket.

*    Separate California into North and South if possible.



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
CALIFORNIA        -------------------------------                   -------------------------------------------
BREAKDOWN         # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----------        -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

CA NORTH              276   81,660,268.11   30.13%      295,870.54   8.138   641  79.72  43.39    93.69   93.80
CA SOUTH              639  189,390,921.73   69.87%      296,386.42   8.178   641  80.28  43.45    93.12   80.04
                      ---  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:                915  271,051,189.84  100.00%      296,230.81   8.166   641  80.11  43.43    93.29   84.18
                      ===  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
CALIFORNIA        -------------------------------------------------------------
BREAKDOWN         REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----------        ------------  --------  -------------  -----------  ---------

CA NORTH                 39.62     20.06          33.47        47.58      46.81
CA SOUTH                 46.21     34.90          32.49        40.61      40.47
                         -----     -----          -----        -----      -----
TOTAL:                   44.22     30.43          32.79        42.71      42.38
                         =====     =====          =====        =====      =====


                              FIXED / FLOATING (II)



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                  --------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

FIXED                 546   66,742,698.56    7.99%      122,239.37   8.667   621  78.06  40.88    92.09   85.56
BALLOON               421   38,639,988.47    4.63%       91,781.45  10.102   646  91.37  43.49    99.24   83.65
2/28 NON-IO          1992  440,846,023.91   52.80%      221,308.24   8.472   620  79.55  42.71    89.23   83.72
3/27 NON-IO           699  122,518,576.27   14.67%      175,276.93   8.713   601  79.26  43.13    95.76   87.88
5/25 NON-IO            12    1,990,883.71    0.24%      165,906.98   8.472   631  76.09  42.15    75.77   62.29
2/28 IO               424  132,706,238.28   15.89%      312,986.41   7.778   658  80.76  43.34    98.25   84.82
3/27 IO                85   23,093,943.82    2.77%      271,693.46   7.774   665  80.55  43.21    95.90   74.07
5/25 IO                 7    1,895,839.00    0.23%      270,834.14   7.240   676  77.91  42.51   100.00  100.00
OTHER                  21    6,500,109.14    0.78%      309,529.01   7.486   646  77.78  43.68    95.17   90.02
                     ----  --------------  ------       ----------   -----   ---  -----  -----   ------  ------
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====   ======  ======


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----------  ---------

FIXED                    72.73     56.81           0.00         7.99       0.00
BALLOON                  29.43     38.79           0.00         7.29      38.11
2/28 NON-IO              53.34     38.37           0.00        34.85      48.35
3/27 NON-IO              63.44     48.32           0.00        25.63      36.51
5/25 NON-IO              82.41     17.81           0.00        26.61       0.00
2/28 IO                  34.05     37.14         100.00        61.24       0.00
3/27 IO                  50.80     32.89         100.00        54.87       0.00
5/25 IO                  65.32     73.63         100.00         9.49       0.00
OTHER                    82.27     39.80          74.03        28.73      14.48
                         -----     -----         ------        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====         ======        =====      =====


LIST ALL LOAN TYPES AND SEPARATE THE IO LOANS I.E. 2/28 AND 2/28 IO SHOULD HAVE
SEPARATE ROWS.

% OF 30/40 YEAR LOANS 32.76   % OF 30/40 YEAR ARM LOANS 31.00

                                   LIEN BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

FIRST                3747  805,760,512.23   96.51%      215,041.50   8.349   625  79.43  42.75    92.29   84.48
SECOND                460   29,173,788.93    3.49%       63,421.28  11.483   657  99.52  43.71    99.38   82.78
THIRD
OTHER
                     ----  --------------  ------       ----------  ------   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========  ======   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----------  ---------

FIRST                    53.93     41.68          20.17        35.95      33.95
SECOND                   11.47     22.77           0.00         0.00       0.00
THIRD
OTHER
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


*    % OF SECOND LIENS THAT HAVE THEIR FIRST LIEN IN THIS DEAL 0.75

                          SILENT & SIMULTANEOUS SECONDS
               (DO NOT INCLUDE SECOND LIENS THAT ARE IN THE DEAL)*



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

NA
=<500
>500 <=520              8      812,075.10    0.28%      101,509.39  10.588   511  79.54  47.03   100.00   89.66
>520 <=540             12    1,348,755.21    0.47%      112,396.27  10.004   529  84.27  40.47   100.00  100.00
>540 <=560             20    2,024,483.77    0.70%      101,224.19   9.678   551  83.44  43.13   100.00  100.00
>560 <=580             28    3,872,635.23    1.34%      138,308.40   9.307   571  82.67  43.75   100.00   88.63
>580 <=600             63   11,221,280.69    3.87%      178,115.57   8.213   593  81.00  43.97    97.91   96.66
>600 <=620            170   36,648,548.95   12.65%      215,579.70   8.078   612  80.50  43.18    98.85   88.66
>620 <=640            241   57,071,564.18   19.70%      236,811.47   8.061   630  80.04  44.41    98.45   85.07
>640 <=660            216   53,378,948.96   18.43%      247,124.76   8.031   650  80.07  44.30    96.32   84.51
>660 <=680            181   45,573,694.22   15.73%      251,788.37   7.857   670  79.54  44.08    97.88   79.58
>680 <=700            100   29,320,694.43   10.12%      293,206.94   7.860   690  79.98  43.60    97.61   77.39
>700 <=750            135   35,758,968.96   12.34%      264,881.25   7.806   721  80.00  43.43    95.80   81.71
>750                   43   12,675,550.46    4.38%      294,780.24   7.765   769  80.07  43.68    96.51   79.50
                     ----  --------------  ------       ----------  ------   ---  -----  -----   ------  ------
TOTAL:               1217  289,707,200.16  100.00%      238,050.29   8.011   658  80.13  43.90    97.54   83.81
                     ====  ==============  ======       ==========  ======   ===  =====  =====   ======  ======


                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  LTV =>80  SILENT 2ND%  % 40 YEAR
----              ------------  --------  --------  -----------  ---------

NA
=<500
>500 <=520               23.62     93.50     90.78       100.00      16.84
>520 <=540                0.00     47.56     93.89       100.00      26.80
>540 <=560                6.89     91.62    100.00       100.00      17.57
>560 <=580               22.90     60.33     79.58       100.00      25.85
>580 <=600               16.56     76.11     98.51       100.00      45.04
>600 <=620               22.62     69.50     93.99       100.00      26.39
>620 <=640               19.39     32.77     94.32       100.00      37.49
>640 <=660               18.82     25.90     94.08       100.00      41.72
>660 <=680               20.80     19.62     90.23       100.00      36.21
>680 <=700               12.72     17.11     92.77       100.00      30.58
>700 <=750                6.71     16.16     96.08       100.00      42.26
>750                      2.68      7.50     96.85       100.00      36.28
                         -----     -----    ------       ------      -----
TOTAL:                   16.72     32.04     93.75       100.00      36.39
                         =====     =====    ======       ======      =====


*    PERCENTAGE OF FIRST LIENS BY NUMBER THAT HAVE A SECOND LIEN BEHIND THEM
     (NOT INCLUDING THE SECOND LIENS IN THIS DEAL)

HARD PENALTIES   100% SOFT PENALTIES:

                                PREPAYMENT BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

NONE                 1199  216,979,402.64   25.99%      180,966.97   8.805   624  80.89  42.82    91.12   81.33
6 MONTHS               15    3,489,710.89    0.42%      232,647.39   8.529   639  77.65  43.09   100.00   62.37
1 YEAR                237   68,168,035.08    8.16%      287,628.84   8.285   646  78.59  42.90    94.01   68.13
2 YEAR               1682  372,728,762.98   44.64%      221,598.55   8.235   628  80.10  42.87    92.21   87.73
3 YEAR               1007  164,152,598.66   19.66%      163,011.52   8.550   619  80.08  42.54    94.66   87.97
5 YEAR                 59    7,862,879.93    0.94%       33,269.15   8.849   580  76.52  41.38    87.72   86.55
OTHER                   8    1,552,910.98    0.19%      194,113.87   9.363   602  78.05  46.02    86.31  100.00
                     ----  --------------  ------       ----------   -----   ---  -----  -----   ------  ------
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====   ======  ======


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----------  ---------

NONE                     56.58     42.88          14.29        29.90      29.16
6 MONTHS                 44.63     17.14          32.86        67.39      40.71
1 YEAR                   46.34     33.11          21.84        41.21      34.31
2 YEAR                   47.47     38.86          23.92        40.30      36.44
3 YEAR                   59.49     46.34          15.54        25.85      28.86
5 YEAR                   83.65     65.01           7.73        15.75      24.95
OTHER                    53.09     13.51          11.59        34.00      20.61
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


                                  INDEX BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

LIBOR - 6 MONTH      3225  724,739,629.36   86.80%      224,725.47   8.358   625  79.74  42.93    92.21   84.34
LIBOR - 1 YEAR
TREASURY -
   1 YEAR
CMT - 1 YEAR
OTHER                 982  110,194,671.80   13.20%      112,214.53   9.118   631  82.69  41.85    94.66   84.94
                     ----  --------------  ------       ----------   -----   ---  -----  -----    -----   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========   =====   ===  =====  =====    =====   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----------  ---------

LIBOR - 6 MONTH          51.57     39.64          21.76        38.64      35.71
LIBOR - 1 YEAR
TREASURY -
   1 YEAR
CMT - 1 YEAR
OTHER                    58.24     50.05           4.37         8.78      13.36
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


LIST ALL RESET RATES

                           MORTGAGE RATE (WAC) BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

>= 5.00
>5.00 <=5.50
>5.50 <=6.00            6    1,933,824.27    0.23%      322,304.05   5.939   684  76.47  42.48   100.00   74.87
>6.00 <=6.50           53   15,591,177.48    1.87%      294,173.16   6.349   664  74.49  41.66    97.99   87.28
>6.50 <=7.00          227   59,692,990.20    7.15%      262,964.71   6.870   656  76.33  43.38    97.69   84.48
>7.00 <=7.50          393  100,369,861.57   12.02%      255,394.05   7.313   652  78.30  42.39    97.02   84.60
>7.50 <=8.00          753  187,090,722.94   22.41%      248,460.46   7.816   642  79.30  43.07    94.87   85.75
>8.00 <=8.50          547  122,485,394.80   14.67%      223,922.11   8.289   631  79.83  42.57    94.55   84.51
>8.50 <=9.00          683  131,747,423.09   15.78%      192,895.20   8.796   610  79.57  42.49    90.66   82.58
>9.00 <=9.50          372   73,221,097.13    8.77%      196,830.91   9.288   607  81.30  43.07    85.89   84.99
>9.50 <=10.00         424   68,679,139.83    8.23%      161,979.10   9.802   580  81.60  43.15    85.41   83.34
>10.00 <=10.50        178   23,779,928.59    2.85%      133,595.10  10.296   580  84.26  42.96    80.48   85.39
>10.50 <=11.00        203   22,321,439.78    2.67%      109,957.83  10.779   596  86.27  41.51    87.49   87.30
>11.00 <=11.50         91    9,173,712.03    1.10%      100,810.02  11.262   606  86.01  41.94    95.55   77.89
>11.50 <=12.00        145   10,941,267.22    1.31%       75,457.02  11.777   619  94.40  44.04    97.85   83.62
>12.00 <=12.50         54    3,865,029.38    0.46%       71,574.62  12.269   628  97.80  43.76    98.34   83.79
>12.50 <=13.00         41    2,372,473.41    0.28%       57,865.21  12.794   637  97.50  43.51    77.66   71.00
>13.00                 37    1,668,819.44    0.20%       45,103.23  13.477   628  99.71  43.42    97.14   74.69
                     ----  --------------  ------       ----------  ------   ---  -----  -----   ------   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626  80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========  ======   ===  =====  =====   ======   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----------  ---------

>= 5.00
>5.00 <=5.50
>5.50 <=6.00             86.24     85.99          29.63        13.76      54.92
>6.00 <=6.50             67.56     82.75          41.81        32.70      36.21
>6.50 <=7.00             49.70     59.81          39.12        44.69      30.99
>7.00 <=7.50             45.68     49.97          35.95        48.01      33.29
>7.50 <=8.00             47.35     40.27          24.85        47.40      40.73
>8.00 <=8.50             52.95     36.87          19.12        42.81      33.58
>8.50 <=9.00             59.22     36.37          10.28        28.76      36.35
>9.00 <=9.50             57.00     29.47          11.23        24.72      26.76
>9.50 <=10.00            67.54     39.33           5.21        11.59      28.01
>10.00 <=10.50           55.44     38.73           2.61         8.64      23.81
>10.50 <=11.00           46.58     38.74           0.46         7.55      16.99
>11.00 <=11.50           38.59     39.14           0.00         5.34      13.57
>11.50 <=12.00           20.80     23.46           0.00         1.61       1.66
>12.00 <=12.50           16.15     18.28           0.00         0.00       0.00
>12.50 <=13.00           19.74      8.45           0.00         0.00       0.00
>13.00                    7.19      6.64           0.00         0.00       0.00
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


                               MARGIN (WAM) BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

>= 2.00               982  110,194,671.80   13.20%      112,214.53   9.118   631  82.69  41.85    94.66   84.94
>2.00 <=2.50           10    2,168,710.29    0.26%      216,871.03   7.133   662  75.59  43.42   100.00   66.15
>2.50 <=3.00            7    1,680,245.48    0.20%      240,035.07   7.550   651  79.37  43.16    88.89   81.69
>3.00 <=3.50            7    1,405,884.73    0.17%      200,840.68   8.180   649  70.82  42.08   100.00   56.43
>3.50 <=4.00           18    4,504,815.16    0.54%      250,267.51   7.217   671  79.02  44.19   100.00   74.74
>4.00 <=4.50           36    9,094,630.23    1.09%      252,628.62   7.637   646  77.15  42.14    99.17   83.14
>4.50 <=5.00          116   30,291,467.91    3.63%      261,133.34   8.038   650  79.70  41.88    97.59   78.68
>5.00 <=5.50          344   95,334,837.43   11.42%      277,136.16   8.176   638  80.87  43.04    92.32   81.23
>5.50 <=6.00          576  122,740,938.14   14.70%      213,091.91   8.386   622  79.77  42.83    91.70   82.37
>6.00 <=6.50          724  167,240,991.42   20.03%      230,995.84   8.150   633  80.74  42.38    89.69   84.82
>6.50 <=7.00          459  103,652,115.26   12.41%      225,821.60   8.366   617  77.75  42.61    91.63   84.14
>7.00 <=7.50          788  150,498,041.39   18.03%      190,987.36   8.672   613  79.37  43.71    94.74   89.19
>7.50 <=8.00           86   21,804,370.83    2.61%      253,539.20   8.951   613  79.99  43.62    88.34   85.08
>8.00 <=8.50           41   11,563,245.65    1.38%      282,030.38   9.203   585  80.07  43.77    95.00   86.17
>8.50 <=9.00            8    2,094,826.38    0.25%      261,853.30   9.457   635  91.91  47.62    59.11   96.35
>9.00 <=9.50            4      608,534.82    0.07%      152,133.71  10.003   607  81.06  49.40    89.49   89.49
>9.50 <=10.00           1       55,974.24    0.01%       55,974.24  12.999   593  80.00  42.33     0.00    0.00
>10.00 <=10.50
>10.50 <=11.00
>11.00 <=11.50
>11.50 <=12.00
>12.00 <=12.50
>12.50 <=13.00
>13.00
                     ----  --------------  ------       ----------  ------   ---   -----  -----   ------   -----
TOTAL:               4207  834,934,301.16  100.00%      198,463.11   8.458   626   80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========  ======   ===   =====  =====   ======   =====


                           WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  INTEREST ONLY  SILENT 2ND%  % 40 YEAR
----              ------------  --------  -------------  -----------  ---------

>= 2.00                  58.24     50.05           4.37         8.78      13.36
>2.00 <=2.50             41.20     22.45          44.70        73.36      22.04
>2.50 <=3.00             36.24     47.36          30.16        44.71      24.98
>3.00 <=3.50             81.83     75.27          34.14        52.26       0.00
>3.50 <=4.00             42.34     43.07          50.82        65.38      19.49
>4.00 <=4.50             47.55     23.21          34.05        56.41      42.93
>4.50 <=5.00             29.78     42.78          23.46        56.17      47.87
>5.00 <=5.50             54.46     40.78          21.11        36.54      37.17
>5.50 <=6.00             54.95     49.28          19.01        32.54      38.96
>6.00 <=6.50             44.86     44.18          25.71        44.08      39.81
>6.50 <=7.00             61.29     34.76          15.55        30.92      33.78
>7.00 <=7.50             52.13     33.22          20.13        37.87      28.34
>7.50 <=8.00             50.36     22.23          26.79        47.06      37.52
>8.00 <=8.50             67.58     25.41          34.56        28.80      17.77
>8.50 <=9.00             31.83     33.40          24.98        15.30      33.16
>9.00 <=9.50              0.00     31.71           0.00        68.29      33.75
>9.50 <=10.00             0.00      0.00           0.00         0.00       0.00
>10.00 <=10.50
>10.50 <=11.00
>11.00 <=11.50
>11.50 <=12.00
>12.00 <=12.50
>12.50 <=13.00
>13.00
                         -----     -----          -----        -----      -----
TOTAL:                   52.45     41.02          19.46        34.70      32.76
                         =====     =====          =====        =====      =====


                                  DEAL COVERAGE

Percentage of the deal based on FICO and LTV buckets.*



                                                      FICO
                                               LOAN-TO-VALUE (LTV)
            ----------------------------------------------------------------------------------------
            Equal to   Greater than    Greater than    Greater than    Greater than    Greater than
             or Less  55 Equal to or  60 Equal to or  65 Equal to or  70 Equal to or  75 Equal to or
             than 55   Less than 60    Less than 65    Less than 70    Less than 75    Less than 80
            --------  --------------  --------------  --------------  --------------  --------------

NA
=<500           0.04%           0.00%           0.02%           0.03%           0.03%           0.11%
>500 =<550      1.02%           0.36%           1.13%           1.91%           2.56%           2.91%
>550 =<600      0.88%           0.36%           0.77%           1.04%           2.14%           5.98%
>600 =<625      0.54%           0.30%           0.37%           0.51%           0.99%           8.18%
>625 =<650      0.66%           0.11%           0.22%           0.32%           0.72%          10.60%
>650 =<675      0.23%           0.22%           0.11%           0.22%           0.30%           8.75%
>675 =<700      0.16%           0.03%           0.11%           0.31%           0.31%           5.60%
>700 =<725      0.06%           0.03%           0.03%           0.05%           0.03%           3.05%
>725 =<750      0.04%           0.00%           0.00%           0.03%           0.00%           1.81%
>750 <800       0.02%           0.00%           0.00%           0.07%           0.11%           1.88%
=>800           0.00%           0.00%           0.00%           0.00%           0.00%           0.07%


                                               FICO
                                        LOAN-TO-VALUE (LTV)
            --------------------------------------------------------------------------
             Greater than    Greater than    Greater than    Greater than    Equal to
            80 Equal to or  85 Equal to or  90 Equal to or  95 Equal to or  or Greater
             Less than 85    Less than 90    Less than 95    Less than 100   than 100
            --------------  --------------  --------------  --------------  ----------

NA
=<500                 0.00%           0.00%           0.00%           0.00%       0.01%
>500 =<550            1.86%           0.19%           0.02%           0.03%       0.00%
>550 =<600            2.75%           3.12%           0.65%           0.00%       0.45%
>600 =<625            2.12%           2.98%           1.09%           0.07%       0.73%
>625 =<650            1.81%           2.20%           1.24%           0.09%       1.07%
>650 =<675            0.89%           1.84%           0.56%           0.14%       0.76%
>675 =<700            0.62%           0.84%           0.40%           0.08%       0.44%
>700 =<725            0.29%           0.17%           0.40%           0.00%       0.43%
>725 =<750            0.09%           0.23%           0.25%           0.00%       0.16%
>750 <800             0.09%           0.18%           0.09%           0.01%       0.11%
=>800                 0.00%           0.01%           0.00%           0.00%       0.03%


*    THIS TABLE SHOULD BE FILLED OUT WITH THE PERCENTAGE OF THE DEAL
     CORRESPONDING TO EACH CROSS LTV AND FICO BUCKETS

                                   MI COVERAGE

Percentage of MI coverage based on FICO and LTV buckets.*



                                                      FICO
                                               LOAN-TO-VALUE (LTV)
            ----------------------------------------------------------------------------------------
            Equal to   Greater than    Greater than    Greater than    Greater than    Greater than
             or Less  55 Equal to or  60 Equal to or  65 Equal to or  70 Equal to or  75 Equal to or
             than 55   Less than 60    Less than 65    Less than 70    Less than 75    Less than 80
            --------  --------------  --------------  --------------  --------------  --------------

NA
=<500
>500 =<550
>550 =<600
>600 =<625
>625 =<650
>650 =<675
>675 =<700
>700 =<725
>725 =<750
>750 <800
=>800


                                               FICO
                                        LOAN-TO-VALUE (LTV)
            --------------------------------------------------------------------------
             Greater than    Greater than    Greater than    Greater than    Equal to
            80 Equal to or  85 Equal to or  90 Equal to or  95 Equal to or  or Greater
             Less than 85    Less than 90    Less than 95    Less than 100   than 100
            --------------  --------------  --------------  --------------  ----------

NA
=<500
>500 =<550
>550 =<600
>600 =<625
>625 =<650
>650 =<675
>675 =<700
>700 =<725
>725 =<750
>750 <800
=>800


*    THIS TABLE SHOULD BE FILLED OUT WITH THE PERCENTAGE OF MI CORRESPONDING TO
     EACH CROSS LTV AND FICO BUCKETS

     40 YEAR ONLY FICO BUCKET (ANY LOAN WITH A 40 YEAR AMORTIZATION PERIOD)



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE   WAC    FICO   %LTV  % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  ------  ----  -----  -----  -------  ------

NA
<=500                   2      310,314.81    0.11%      155,157.41  10.482   500  75.43  43.95   100.00  100.00
>500 <=520             51   10,071,992.63    3.68%      197,490.05   9.397   509  73.83  43.15    96.21   92.05
>520 <=540             52   11,462,045.98    4.19%      220,423.96   9.021   531  72.85  41.87    98.32   91.22
>540 <=560             69   15,100,575.68    5.52%      218,848.92   8.804   552  76.52  43.90    97.30   83.06
>560 <=580             96   23,011,523.86    8.41%      239,703.37   8.657   571  78.42  43.42   100.00   95.41
>580 <=600            119   28,450,443.19   10.40%      239,079.35   8.436   591  80.50  42.48    94.53   88.18
>600 <=620            143   34,568,607.31   12.64%      241,738.51   8.200   610  81.08  42.58    90.92   83.64
>620 <=640            186   48,830,473.62   17.85%      262,529.43   8.098   631  80.98  43.56    95.65   83.91
>640 <=660            126   36,323,972.20   13.28%      288,285.49   7.916   649  81.03  44.38    91.95   85.35
>660 <=680             88   23,922,472.96    8.75%      271,846.28   7.940   670  81.02  44.26    94.29   77.82
>680 <=700             46   14,362,454.10    5.25%      312,227.26   7.825   691  81.00  43.29    90.68   73.26
>700 <=750             74   22,058,509.09    8.06%      298,087.96   7.933   719  82.80  44.16    91.73   80.49
>750                   18    5,072,939.37    1.85%      281,829.97   7.536   770  80.37  43.77   100.00   72.83
                     ----  --------------  ------       ----------  ------   ---  -----  -----   ------  ------
TOTAL:               1070  273,546,324.80  100.00%      255,650.77   8.245   625  80.02  43.45    94.42   84.48
                     ====  ==============  ======       ==========  ======   ===  =====  =====   ======  ======


                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  LTV =>80  SILENT 2ND%  % 40 YEAR
----              ------------  --------  --------  -----------  ---------

NA
<=500                    49.74    100.00     49.74         0.00     100.00
>500 <=520               94.09     59.93     39.12         1.36     100.00
>520 <=540               89.56     52.93     39.78         3.15     100.00
>540 <=560               79.11     55.06     50.96         2.36     100.00
>560 <=580               90.60     54.71     59.66         4.35     100.00
>580 <=600               74.34     49.00     75.97        17.76     100.00
>600 <=620               59.53     51.83     75.53        27.98     100.00
>620 <=640               49.92     37.55     83.99        43.82     100.00
>640 <=660               45.57     30.84     84.55        61.31     100.00
>660 <=680               22.77     19.17     87.89        68.99     100.00
>680 <=700               36.14     27.12     88.08        62.42     100.00
>700 <=750               21.80     20.29     97.74        68.50     100.00
>750                      7.01     13.93     96.89        90.65     100.00
                         -----     -----     -----        -----     ------
TOTAL:                   55.26     39.62     76.65        38.54     100.00
                         =====     =====     =====        =====     ======


                               IO ONLY FICO BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
TYPE              # LOANS     BALANCE         %    WA LOAN BALANCE  WAC    FICO   %LTV   % DTI  PRIMARY  SF/PUD
----              -------  --------------  ------  ---------------  -----  ----  ------  -----  -------  ------

NA
<=500
>500 <=520              1      216,000.00    0.13%      216,000.00  7.500   519   90.00  24.25   100.00  100.00
>520 <=540
>540 <=560              1      249,324.86    0.15%      249,324.86  9.750   553   51.55  32.85     0.00  100.00
>560 <=580              4    1,670,954.55    1.03%      417,738.64  7.337   578   78.47  36.68   100.00   82.05
>580 <=600             13    3,589,920.00    2.21%      276,147.69  7.273   594   78.55  43.67   100.00   89.41
>600 <=620             94   27,818,583.38   17.12%      295,942.38  7.870   611   81.96  42.79   100.00   87.58
>620 <=640             98   29,866,897.45   18.38%      304,764.26  7.834   630   79.73  43.11   100.00   89.73
>640 <=660            102   31,216,954.87   19.21%      306,048.58  7.801   651   79.95  43.65    99.40   81.41
>660 <=680             78   24,210,248.57   14.90%      310,387.80  7.719   671   80.60  44.31    94.60   77.71
>680 <=700             56   17,733,948.88   10.91%      316,677.66  7.743   690   81.02  43.23    96.53   84.02
>700 <=750             61   17,740,705.26   10.92%      290,831.23  7.576   722   81.29  43.39    96.36   78.54
>750                   23    8,194,468.05    5.04%      356,281.22  7.803   774   81.13  42.72    92.90   78.77
                      ---  --------------  ------       ----------  -----   ---   -----  -----   ------  ------
TOTAL:                531  162,508,005.87  100.00%      306,041.44  7.762   659   80.60  43.27    97.79   83.52
                      ===  ==============  ======       ==========  =====   ===   =====  =====   ======  ======


                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------
TYPE              REFI CACHOUT  FULL DOC  LTV =>80  SILENT 2ND%  % 40 YEAR
----              ------------  --------  --------  -----------  ---------

NA
<=500
>500 <=520              100.00    100.00    100.00         0.00       0.00
>520 <=540
>540 <=560              100.00      0.00      0.00         0.00       0.00
>560 <=580              100.00     82.05     35.67         0.00       0.00
>580 <=600               58.84     84.42     57.31        41.16       0.00
>600 <=620               55.38     57.76     83.17        43.10       0.00
>620 <=640               41.49     41.62     82.81        54.72       0.00
>640 <=660               39.37     28.55     85.59        57.13       0.00
>660 <=680               39.41     21.49     85.44        66.75       0.00
>680 <=700               31.52     32.06     84.63        72.96       0.00
>700 <=750               13.95     36.65     94.91        75.44       0.00
>750                      5.84     13.46     97.41        67.34       0.00
                        ------    ------    ------        -----       ----
TOTAL:                   38.41     37.24     84.90        58.86       0.00
                        ======    ======    ======        =====       ====


                               IO PRINCIPAL BUCKET



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
USB               # LOANS     BALANCE         %    WA LOAN BALANCE  WAC    FICO   %LTV   % DTI  PRIMARY  SF/PUD
---               -------  --------------  ------  ---------------  -----  ----  ------  -----  -------  ------

<=50
>50 <=75                1       72,800.00    0.04%       72,800.00  9.590   630   80.00  47.30   100.00  100.00
>75 <=100              10      878,878.65    0.54%       87,887.87  7.859   627   79.31  43.00   100.00  100.00
>100 <=500            470  131,921,253.50   81.18%      280,683.52  7.752   658   80.30  43.38    97.81   84.51
>500 <=600             32   17,257,729.97   10.62%      539,304.06  7.597   658   81.45  43.56   100.00   81.76
>600 <=700             14    8,967,347.69    5.52%      640,524.84  8.028   662   83.69  42.54    92.19   64.38
>=700                   4    3,409,996.06    2.10%      852,499.02  8.239   688   80.16  39.40   100.00  100.00
                      ---  --------------  ------       ----------  -----   ---   -----  -----   ------  ------
TOTAL:                531  162,508,005.87  100.00%      306,041.44  7.762   659   80.60  43.27    97.79   83.52
                      ===  ==============  ======       ==========  =====   ===   =====  =====   ======  ======


                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------
USB               REFI CACHOUT  FULL DOC  LTV =>80  SILENT 2ND%  % 40 YEAR
---               ------------  --------  --------  -----------  ---------

<=50
>50 <=75                  0.00      0.00    100.00       100.00       0.00
>75 <=100                30.58     59.65     80.34        69.42       0.00
>100 <=500               35.32     36.51     84.52        61.46       0.00
>500 <=600               56.80     40.92     86.81        49.46       0.00
>600 <=700               43.51     43.66     92.58        42.30       0.00
>=700                    54.40     25.07     70.67        45.60       0.00
                         -----     -----    ------       ------       ----
TOTAL:                   38.41     37.24     84.90        58.86       0.00
                         =====     =====    ======       ======       ====


*    IN $1,000

                             INITIAL IO RESET PERIOD



                             DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  -------------------------------                   -------------------------------------------
UPB               # LOANS     BALANCE         %    WA LOAN BALANCE  WAC    FICO   %LTV   % DTI  PRIMARY  SF/PUD
---               -------  --------------  ------  ---------------  -----  ----  ------  -----  -------  ------

NONE                 3676  672,426,295.29   80.54%      182,923.37   8.63   618   80.02  42.67    91.27   84.64
2 YEAR                  2      431,400.00    0.05%      215,700.00   7.23   606   79.45  29.07   100.00  100.00
3 YEAR                  3      639,500.00    0.08%      213,166.67   7.94   631   77.28  39.93   100.00  100.00
5 YEAR                521  160,349,980.87   19.21%      307,773.48   7.76   659   80.61  43.32    97.88   83.30
7 YEAR
10 YEAR                 5    1,087,125.00    0.13%      217,425.00   7.64   643   81.43  41.93    82.83  100.00
OTHER
                     ----  --------------  ------       ----------  -----   ---   -----  -----   ------  ------
TOTAL:               4207  834,934,301.16  100.00%      198,463.11  8.458   626   80.13  42.79    92.54   84.42
                     ====  ==============  ======       ==========  =====   ===   =====  =====   ======  ======


                         WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                  --------------------------------------------------------
UPB               REFI CACHOUT  FULL DOC  LTV =>80  SILENT 2ND%  % 40 YEAR
---               ------------  --------  --------  -----------  ---------

NONE                     55.84     41.93     72.13        28.86      40.68
2 YEAR                   51.23     51.23     48.77        48.77       0.00
3 YEAR                   64.35     35.65     69.43        69.43       0.00
5 YEAR                   38.33     37.04     85.16        59.07       0.00
7 YEAR
10 YEAR                  30.45     62.10     69.55        25.64       0.00
OTHER
                         -----     -----     -----        -----      -----
TOTAL:                   52.45     41.02     74.62        34.70      32.76
                         =====     =====     =====        =====      =====




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efc6-1020_forms3a.txt




                                   ALL RECORDS
PRODUCT        FICO        LTV            TOTAL BALANCE
-------        ---------   -----------   ---------------
ARM            <= 575      <= 74.9       $ 54,712,222.86
                           75.0 - 79.9   $ 26,862,398.08
                           80.0 - 84.9   $ 35,243,660.48
                           85.0 - 89.9   $ 20,894,765.52
                           90.0 - 94.9   $  7,627,524.90
                           95.0 >=       $  1,673,696.05
               576 - 600   <= 74.9       $ 14,214,418.74
                           75.0 - 79.9   $ 10,124,116.48
                           80.0 - 84.9   $ 27,068,934.87
                           85.0 - 89.9   $ 10,726,190.57
                           90.0 - 94.9   $ 11,780,714.76
                           95.0 >=       $  3,917,880.91
               601 - 625   <= 74.9       $ 16,466,926.72
                           75.0 - 79.9   $ 10,184,735.42
                           80.0 - 84.9   $ 60,872,810.01
                           85.0 - 89.9   $ 16,635,735.33
                           90.0 - 94.9   $ 20,008,866.40
                           95.0 >=       $  6,619,413.88
               626 - 650   <= 74.9       $ 12,730,714.22
                           75.0 - 79.9   $  9,136,184.76
                           80.0 - 84.9   $ 78,620,409.03
                           85.0 - 89.9   $ 11,624,773.33
                           90.0 - 94.9   $ 14,826,669.56
                           95.0 >=       $  8,304,876.60
               651 - 675   <= 74.9       $  5,183,879.45
                           75.0 - 79.9   $  6,220,484.97
                           80.0 - 84.9   $ 64,985,713.40
                           85.0 - 89.9   $  6,382,430.66
                           90.0 - 94.9   $ 10,727,619.31
                           95.0 >=       $  5,573,386.10
               676 >=      <= 74.9       $  4,773,606.80
                           75.0 - 79.9   $  7,244,817.35
                           80.0 - 84.9   $ 96,251,161.64
                           85.0 - 89.9   $  6,101,933.72
                           90.0 - 94.9   $  9,887,351.47
                           95.0 >=       $ 10,528,605.01
FIXED RATE     <= 575      <= 74.9       $  7,863,281.80
                           75.0 - 79.9   $  1,837,343.98
                           80.0 - 84.9   $  4,191,808.48
                           85.0 - 89.9   $  2,481,306.23
                           90.0 - 94.9   $  1,756,504.72
                           95.0 >=       $    499,500.07
               576 - 600   <= 74.9       $  2,612,507.51
                           75.0 - 79.9   $    836,933.81
                           80.0 - 84.9   $  1,350,381.11
                           85.0 - 89.9   $  1,065,478.04
                           90.0 - 94.9   $  1,956,817.50
                           95.0 >=       $  2,172,784.26
               601 - 625   <= 74.9       $  2,566,958.45
                           75.0 - 79.9   $  1,362,975.86
                           80.0 - 84.9   $  5,877,098.54
                           85.0 - 89.9   $    935,388.84
                           90.0 - 94.9   $  1,359,161.95
                           95.0 >=       $  6,388,651.36
               626 - 650   <= 74.9       $  3,188,349.79
                           75.0 - 79.9   $  2,699,647.31
                           80.0 - 84.9   $  4,313,679.59
                           85.0 - 89.9   $  2,718,616.80
                           90.0 - 94.9   $  1,204,905.59
                           95.0 >=       $  9,488,327.78
               651 - 675   <= 74.9       $  3,411,319.76
                           75.0 - 79.9   $    784,203.91
                           80.0 - 84.9   $  5,012,781.83
                           85.0 - 89.9   $  1,271,000.44
                           90.0 - 94.9   $    902,962.94
                           95.0 >=       $  6,636,316.68
               676 >=      <= 74.9       $  4,688,602.68
                           75.0 - 79.9   $  2,223,364.10
                           80.0 - 84.9   $  3,824,665.06
                           85.0 - 89.9   $  2,061,195.49
                           90.0 - 94.9   $    715,077.53
                           95.0 >=       $  7,934,772.01
GRAND TOTAL:                             $834,934,301.16



                                 # of Loans         UPB          LTV    CLTV    FICO
                                 ----------   ---------------   -----   -----   ----

IO       Second In deal                  32   $  9,268,586.73   79.97   79.97    688
IO       w/ Second not in deal          319   $ 95,645,345.29   79.96   99.49    667
IO       No Second                      180   $ 57,594,073.85   81.77   81.77    641
Non-IO   Second In deal                  72   $ 15,928,391.41   80.16   80.16    649
Non-IO   w/ Second not in deal          898   $194,061,854.87   80.22   99.37    653
Non-IO   No Second                     2706   $462,436,049.01   79.93   79.93    602




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1. CLTV/FICO MATRIX (WHOLE MATRIX TO TOTAL TO 100%)



                                                  FIXED
                                                   FICO
          -------------------------------------------------------------------------------------
                                                   LTV
          -------------------------------------------------------------------------------------
          60 and below   61-65   66-70   71-75   76-80   81-85   86-90   91-95   96-100   Total
          ------------   -----   -----   -----   -----   -----   -----   -----   ------   -----

<500                                                                                       0.00%
500-519       0.07%      0.07%   0.03%   0.13%   0.08%   0.12%   0.00%   0.00%    0.01%    0.49%
520-539       0.03%      0.04%   0.07%   0.07%   0.25%   0.11%   0.04%   0.02%    0.00%    0.63%
540-559       0.09%      0.04%   0.11%   0.06%   0.06%   0.13%   0.08%   0.00%    0.00%    0.58%
560-579       0.11%      0.03%   0.04%   0.06%   0.15%   0.04%   0.13%   0.03%    0.04%    0.62%
580-599       0.09%      0.03%   0.12%   0.10%   0.14%   0.08%   0.25%   0.04%    0.17%    1.02%
600-619       0.12%      0.02%   0.02%   0.07%   0.32%   0.21%   0.15%   0.14%    0.38%    1.42%
620-639       0.16%      0.10%   0.06%   0.17%   0.57%   0.23%   0.22%   0.08%    1.00%    2.59%
640-659       0.16%      0.03%   0.05%   0.09%   0.61%   0.07%   0.12%   0.10%    0.76%    2.00%
660-679       0.19%      0.00%   0.05%   0.05%   0.32%   0.21%   0.22%   0.01%    0.44%    1.50%
680-699       0.09%      0.00%   0.11%   0.06%   0.28%   0.05%   0.03%   0.06%    0.37%    1.04%
700-719       0.04%      0.00%   0.05%   0.01%   0.03%   0.19%   0.00%   0.00%    0.18%    0.51%
720-739       0.06%      0.00%   0.00%   0.00%   0.15%   0.00%   0.05%   0.01%    0.13%    0.39%
740-759       0.00%      0.00%   0.08%   0.00%   0.00%   0.00%   0.03%   0.01%    0.04%    0.16%
760-779       0.00%      0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.01%    0.05%    0.05%
780-799       0.00%      0.00%   0.00%   0.05%   0.08%   0.00%   0.00%   0.00%    0.03%    0.17%
800-819       0.00%      0.00%   0.00%   0.00%   0.00%   0.00%   0.00%   0.00%    0.03%    0.03%
>=820                                                                                      0.00%
              ----       ----    ----    ----    ----    ----    ----    ----     ----    -----
Total         1.21%      0.36%   0.78%   0.93%   3.05%   1.43%   1.32%   0.50%    3.62%   13.20%
              ====       ====    ====    ====    ====    ====    ====    ====     ====    =====




                                                   ARM
                                                   FICO
          -------------------------------------------------------------------------------------

<500                                                                                       0.00%
500-519       0.50%      0.36%   0.53%   1.00%    1.03%  0.46%    0.03%  0.00%    0.00%    3.90%
520-539       0.54%      0.49%   0.94%   0.75%    0.91%  0.67%    0.01%  0.00%    0.00%    4.31%
540-559       0.43%      0.18%   0.47%   0.98%    1.40%  0.93%    0.44%  0.08%    0.03%    4.94%
560-579       0.33%      0.45%   0.29%   0.95%    1.63%  1.02%    0.78%  0.16%    0.02%    5.63%
580-599       0.42%      0.17%   0.38%   0.58%    2.98%  1.02%    1.50%  0.34%    0.20%    7.58%
600-619       0.63%      0.27%   0.42%   0.66%    5.11%  1.43%    2.44%  0.78%    0.13%   11.86%
620-639       0.38%      0.18%   0.33%   0.72%    8.51%  1.38%    1.53%  0.96%    0.03%   14.01%
640-659       0.45%      0.09%   0.03%   0.14%    7.77%  1.08%    1.49%  0.48%    0.12%   11.65%
660-679       0.06%      0.10%   0.18%   0.24%    5.70%  0.37%    1.09%  0.45%    0.09%    8.26%
680-699       0.07%      0.08%   0.16%   0.16%    4.00%  0.45%    0.61%  0.23%    0.06%    5.82%
700-719       0.03%      0.03%   0.00%   0.02%    2.57%  0.06%    0.18%  0.39%    0.17%    3.45%
720-739       0.00%      0.00%   0.00%   0.00%    1.62%  0.10%    0.15%  0.16%    0.09%    2.11%
740-759       0.02%      0.00%   0.02%   0.00%    1.25%  0.05%    0.06%  0.17%    0.02%    1.60%
760-779       0.00%      0.00%   0.00%   0.00%    1.00%  0.04%    0.10%  0.00%    0.00%    1.15%
780-799       0.00%      0.00%   0.00%   0.06%    0.34%  0.03%    0.02%  0.00%    0.00%    0.44%
800-819       0.00%      0.00%   0.00%   0.00%    0.07%  0.00%    0.01%  0.00%    0.00%    0.09%
>=820                                                                                      0.00%
              ----       ----    ----    ----    -----   ----    -----   ----     ----    -----
Total         3.84%      2.40%   3.72%   6.26%   45.88%  9.08%   10.44%  4.20%    0.97%   86.80%
              ====       ====    ====    ====    =====   ====    =====   ====     ====    =====


2. FICO/GEOGRAPHY (WHOLE MATRIX TO TOTAL TO 100%)



                                            FICO
--------------------------------------------------------------------------------------------
                       Less than 500   500-519   520-539   540-559   560-579    >580   TOTAL
                       -------------   -------   -------   -------   -------   -----   -----

Alabama                    0.00%        0.06%     0.02%     0.01%     0.02%     0.07%   0.18%
Alaska                     0.00%        0.00%     0.00%     0.00%     0.00%     0.02%   0.02%
Arizona                    0.00%        0.31%     0.28%     0.32%     0.30%     2.62%   3.83%
Arkansas                   0.00%        0.00%     0.01%     0.02%     0.02%     0.12%   0.18%
California                 0.00%        0.88%     1.01%     0.80%     1.23%    28.54%  32.46%
Colorado                   0.00%        0.02%     0.04%     0.07%     0.05%     0.78%   0.96%
Connecticut                0.00%        0.07%     0.15%     0.23%     0.10%     1.23%   1.78%
Delaware                   0.00%        0.00%     0.01%     0.01%     0.02%     0.17%   0.21%
District of Columbia       0.00%        0.00%     0.00%     0.00%     0.00%     0.24%   0.24%
Florida                    0.00%        0.79%     0.71%     0.99%     0.90%    10.88%  14.27%
Georgia                    0.00%        0.12%     0.09%     0.11%     0.15%     1.13%   1.60%
Guam                                                                                    0.00%
Hawaii                     0.00%        0.00%     0.05%     0.03%     0.04%     1.23%   1.36%
Idaho                      0.00%        0.03%     0.00%     0.02%     0.05%     0.30%   0.40%
Illinois                   0.00%        0.27%     0.31%     0.37%     0.74%     5.18%   6.86%
Indiana                    0.00%        0.04%     0.06%     0.07%     0.04%     0.31%   0.52%
Iowa                       0.00%        0.01%     0.00%     0.05%     0.00%     0.12%   0.17%
Kansas                     0.00%        0.06%     0.04%     0.01%     0.02%     0.13%   0.26%
Kentucky                   0.00%        0.03%     0.00%     0.00%     0.01%     0.08%   0.11%
Louisiana                  0.00%        0.02%     0.01%     0.02%     0.01%     0.24%   0.30%
Maine                      0.00%        0.00%     0.00%     0.00%     0.00%     0.19%   0.19%
Maryland                   0.00%        0.24%     0.21%     0.21%     0.19%     2.23%   3.08%
Massachusetts              0.00%        0.07%     0.17%     0.11%     0.18%     1.92%   2.47%
Michigan                   0.00%        0.07%     0.13%     0.30%     0.13%     0.98%   1.61%
Minnesota                  0.00%        0.02%     0.03%     0.03%     0.04%     0.35%   0.47%
Mississippi                0.00%        0.01%     0.02%     0.00%     0.01%     0.02%   0.06%
Missouri                   0.00%        0.08%     0.08%     0.12%     0.11%     0.50%   0.90%
Montana                    0.00%        0.00%     0.00%     0.00%     0.04%     0.00%   0.04%
Nebraska                   0.00%        0.00%     0.00%     0.00%     0.00%     0.04%   0.04%
Nevada                     0.00%        0.00%     0.03%     0.08%     0.17%     2.10%   2.38%
New Hampshire              0.00%        0.00%     0.02%     0.00%     0.00%     0.12%   0.14%
New Jersey                 0.00%        0.31%     0.19%     0.16%     0.21%     1.60%   2.48%
New Mexico                 0.00%        0.00%     0.00%     0.09%     0.00%     0.23%   0.32%
New York                   0.00%        0.00%     0.22%     0.14%     0.31%     4.33%   5.00%
North Carolina             0.00%        0.02%     0.06%     0.01%     0.05%     0.43%   0.57%
North Dakota               0.00%        0.00%     0.00%     0.02%     0.01%     0.02%   0.05%
Ohio                       0.00%        0.05%     0.02%     0.08%     0.08%     0.37%   0.59%
Oklahoma                   0.00%        0.00%     0.01%     0.00%     0.00%     0.14%   0.14%
Oregon                     0.00%        0.06%     0.05%     0.10%     0.05%     0.74%   1.00%
Pennsylvania               0.00%        0.10%     0.17%     0.12%     0.16%     1.29%   1.84%
Puerto Rico                                                                             0.00%
Rhode Island               0.00%        0.09%     0.18%     0.13%     0.17%     1.26%   1.82%
South Carolina             0.00%        0.00%     0.00%     0.01%     0.01%     0.06%   0.08%
South Dakota               0.00%        0.01%     0.00%     0.00%     0.00%     0.00%   0.01%
Tennessee                  0.00%        0.07%     0.03%     0.09%     0.06%     0.62%   0.86%
Texas                      0.00%        0.16%     0.29%     0.19%     0.18%     2.37%   3.19%
Utah                       0.00%        0.00%     0.00%     0.00%     0.05%     0.30%   0.35%
Vermont                    0.00%        0.00%     0.00%     0.00%     0.01%     0.02%   0.02%
Virginia                   0.00%        0.13%     0.13%     0.15%     0.12%     1.57%   2.10%
Virgin Islands                                                                          0.00%
Washington                 0.00%        0.19%     0.09%     0.21%     0.13%     1.33%   1.95%
West Virginia                                                                           0.00%
Wisconsin                  0.00%        0.03%     0.02%     0.01%     0.02%     0.39%   0.47%
Wyoming                    0.00%        0.00%     0.00%     0.01%     0.03%     0.00%   0.04%




3. STRATS FOR NON FULL DOC              strat run isolated for particular feature

4. STRATS FOR IO                        strat run isolated for particular feature

5. STRATS FOR CASHOUT REFI              strat run isolated for particular feature

6. STRATS FOR NON - PRIMARY OCCUPANCY   strat run isolated for particular feature


7. STRATS FOR DTI >40%



                   FICO                              % Grade                                                      Eff    Eff
          FICO     Less    % full  % owner  % Refi     Less            % below  % above                  DTI     CLTV   CLTV
  DTI   550-600  than 550    doc     occ    CashOut   than B  ave wac     100k    500k   % IO   ave DTI  > 45%   >80%    >90%
------  -------  --------  ------  -------  -------  -------  -------  -------  -------  -----  -------  ------  ----   -----

40-44%   16.87     10.68    31.49   95.26    48.96     4.96     8.42     6.48    11.80   21.85   42.78       --  30.50   9.00
45-50%   16.60      9.85    36.31   93.55    49.20     6.42     8.49     6.83    10.37   21.14   47.69   100.00  31.99  10.77
>50%     20.76     17.50    61.19   90.14    57.57    11.08     8.43     6.50     9.46   12.23   52.73   100.00  30.80   8.47




8.   LIST OF LOANS WITH FICO EQUAL TO   list of the loans with CLTV, Product Type, Balance, FICO,
     OR LESS THAN 540                   Geog, Purpose, DTI, Doc Type, Coup Rate, Remaining Term,
                                        Occupancy, Property Type, Lien status, Silent Second, MI

9.   LIST OF LOANS WITH CLTV EQUAL TO   list of the loans with CLTV, Product Type, Balance, FICO,
     OR GREATER THAN 80%                Geog, Purpose, DTI, Doc Type, Coup Rate, Remaining Term,
                                        Occupancy, Property Type, Lien status, Silent Second, MI

10.  LIST OF LOANS WITH BALANCE EQUAL   list of the loans with CLTV, Product Type, Balance, FICO,
     TO OR GREATER THAN $600K           Geog, Purpose, DTI, Doc Type, Coup Rate, Remaining Term,
                                        Occupancy, Property Type, Lien status, Silent Second, MI

11.  LIST OF LOANS WITH BALANCE EQUAL   list of the loans with CLTV, Product Type, Balance, FICO,
     TO OR LESS THAN $100K              Geog, Purpose, DTI, Doc Type, Coup Rate, Remaining Term,
                                        Occupancy, Property Type, Lien status, Silent Second, MI




8. LIST OF LOANS WITH FICO EQUAL TO OR LESS THAN 540

list of the loans with CLTV, Product Type, Balance, FICO, Geog, Purpose, DTI,
Doc Type, Coup Rate, Remaining Term, Occupancy, Property Type, Lien status,
Silent Second, MI





CLTV     PRODUCT       BALANCE       FICO   CITY                   STATE   ZIP     PURPOSE
------   -----------   -----------   ----   --------------------   -----   -----   -------

 65.00   A3/6          $129,743.85    500   Delray Beach           FL      33484   CO
 75.00   A2/6          $115,335.28    500   Beverly Hills          FL      34465   CO
 52.65   A2/6          $128,834.56    500   Fresno                 CA-N    93728   CO
 51.72   A3/6          $ 74,897.26    500   Bethlehem              PA      18018   CO
100.00   B15/30        $ 40,964.36    500   Miami                  FL      33169   P
 80.00   A3/6          $ 92,670.17    500   Jackson                TN      38305   CO
 80.00   A2/6          $327,501.70    500   Gig Harbor             WA      98335   CO
100.00   F30           $ 30,558.61    500   Arlington              TX      76018   P
 80.00   A2/6          $342,088.60    500   Jupiter                FL      33477   CO
 70.00   A2/6          $279,690.72    500   Perris                 CA-S    92571   CO
 38.60   A2/6          $109,883.08    500   Lawrence               KS      66049   CO
 80.00   A2/6 B30/40   $154,355.43    500   College Park           GA      30349   CO
 70.91   A2/6 B30/40   $155,959.38    500   Robbinsdale            MN      55422   RT
 70.00   A2/6          $153,659.24    501   Boynton Beach          FL      33426   CO
 74.47   A2/6 B30/40   $632,297.93    501   Lake Hughes            CA-S    93532   CO
 52.54   F30           $309,386.47    501   Rosemead               CA-S    91770   CO
 63.77   A2/6          $131,877.74    501   Waterford Twp          NJ       8004   CO
 80.00   A3/6          $ 71,944.23    501   San Antonio            TX      78244   CO
 73.64   A2/6          $167,604.46    501   Mesa                   AZ      85201   CO
 80.00   F30           $ 61,552.64    501   Tupelo                 MS      38804   P
 76.76   F30           $ 57,514.95    501   Houston                TX      77048   CO
 68.15   B30/40        $ 91,940.35    501   Ocala                  FL      34482   CO
 80.00   A3/6 B30/40   $145,545.07    501   Kalama                 WA      98625   CO
 80.00   A3/6          $ 76,425.19    501   Tampa                  FL      33615   P
 59.67   A2/6          $111,712.75    502   Houston                TX      77069   CO
 75.00   A3/6          $ 80,875.69    502   Humble                 TX      77396   CO
 69.92   A3/6          $ 92,873.95    502   Suffolk                VA      23434   CO
 72.29   A3/6          $186,295.50    502   Bremerton              WA      98311   CO
 75.00   A2/6          $ 47,209.71    502   Morristown             TN      37814   CO
 52.78   A2/6 B30/40   $189,962.32    502   Galt                   CA-N    95632   CO
 80.00   A2/6 B30/40   $197,941.73    502   Chandler               AZ      85225   CO
 80.00   A2/6          $ 64,464.59    502   Jesup                  GA      31545   CO
 70.00   A2/6          $ 52,425.70    502   Kokomo                 IN      46901   CO
 75.00   A2/6          $ 85,814.79    502   Dickinson              TX      77539   CO
 85.00   A3/6          $280,250.72    502   Surprise               AZ      85387   CO
 75.00   A2/6 B30/40   $114,730.42    502   Jacksonville           FL      32244   P
 75.00   A2/6 B30/40   $553,251.85    502   Laguna Hills           CA-S    92656   CO
 85.00   A2/6          $195,134.76    502   Jacksonville           FL      32211   CO
 80.00   A3/6          $191,824.82    502   Sherwood               OR      97140   CO
 75.00   A2/6          $189,446.32    502   Elgin                  IL      60123   CO
 79.08   A3/6          $154,738.18    502   Hanford                CA-S    93230   CO
 75.00   A2/6          $115,448.79    502   Joliet                 IL      60433   CO
 68.18   A3/6          $157,284.71    503   Chicago                IL      60651   CO
 75.00   A3/6          $131,840.91    503   Wausau                 WI      54403   RT
 69.78   A2/6 B30/40   $156,962.16    503   Bellmawr               NJ       8031   CO
 68.37   A2/6 B30/40   $146,959.93    503   Atlantic Beach         FL      32233   CO
 85.00   A3/6 B30/40   $182,687.39    503   Toledo                 WA      98591   CO
 84.34   F20           $ 63,593.28    503   Snyder                 TX      79549   RT
 55.56   F30           $ 74,891.08    503   Fort Pierce            FL      34946   CO
 75.00   A3/6          $157,300.16    503   Rocky Comfort          MO      64861   CO
 70.72   F30           $212,879.10    504   Victorville            CA-S    92395   CO
 79.98   A2/6          $114,677.39    504   Tampa                  FL      33617   CO
 75.00   A3/6          $340,736.01    504   Bonita Springs         FL      34135   CO
 68.69   A2/6          $135,878.11    504   Willingboro            NJ       8046   CO
 80.00   A3/6          $343,401.91    504   Homewood               IL      60430   CO
 80.00   A3/6          $ 59,951.59    504   Sparta                 NC      28675   CO
 75.00   A3/6          $116,159.18    504   Flint                  MI      48532   CO
 80.00   F30           $ 91,851.83    504   Tucson                 AZ      85706   CO
 75.00   A2/6 B30/40   $239,959.67    504   Clermont               FL      34711   CO
 80.00   F30           $ 91,067.85    504   Hobart                 IN      46342   CO
 71.34   F30           $233,718.38    504   Lansdale               PA      19446   CO
 72.73   A2/6          $159,824.18    504   Avon                   CT       6001   CO
 85.00   A2/6          $174,015.32    504   West Palm Beach        FL      33409   CO
 61.43   A2/6 B30/40   $193,428.51    504   North Port             FL      34288   CO
 80.00   A3/6 B30/40   $ 91,972.91    504   Owensville             MO      65066   CO
 44.34   A2/6          $233,912.76    505   Los Angeles            CA-S    90016   CO
 80.00   A2/6          $286,704.25    505   Temple Hills           MD      20748   CO
 80.00   A3/6          $181,450.28    505   Glen Burnie            MD      21060   CO
 80.00   A3/6          $ 95,907.17    505   Detroit                MI      48205   CO
 80.00   A2/6 B30/40   $175,924.28    505   Fresno                 CA-N    93702   CO
 80.00   A2/6          $ 67,954.37    505   Macon                  GA      31206   CO
 84.80   F30           $105,847.55    505   Bethlehem              GA      30620   CO
 80.00   A2/6 B30/40   $141,533.01    505   Belton                 MO      64012   CO
 50.00   A2/6          $204,214.64    506   Miami                  FL      33138   CO
 70.00   A2/6          $117,203.21    506   Redford                MI      48239   CO
 60.95   A2/6          $159,537.74    506   Tampa                  FL      33634   CO
 57.59   A2/6          $109,686.41    506   Norwich                CT       6360   CO
 73.88   F30           $366,582.71    506   Cape May Court House   NJ       8210   CO
 73.28   A2/6          $254,368.03    506   Fort Washington        MD      20744   RT
 78.67   F30           $112,332.68    506   Lowell                 IN      46356   CO
 59.66   A2/6 B30/40   $199,756.35    506   Tuolumne               CA-N    95379   CO
 57.14   A3/6          $ 71,926.60    506   Jacksonville           FL      32205   CO
 80.00   A3/6          $167,762.73    506   Globe                  AZ      85501   CO
 75.00   A3/6          $101,137.68    506   Austell                GA      30168   CO
 80.00   A2/6          $191,637.29    507   Mount Laurel           NJ       8054   CO
 65.54   A2/6          $ 96,748.15    507   Effort                 PA      18330   CO
 73.82   A3/6          $202,724.84    507   Providence             RI       2905   CO
 80.00   A3/6          $ 79,900.43    507   Glen Rose              TX      76043   CO
 85.00   A3/6          $ 78,652.68    507   Mobile                 AL      36695   P
 85.00   A2/6          $ 76,433.10    507   Birmingham             AL      35214   P
 75.00   A2/6          $ 52,478.91    507   Birmingham             AL      35228   CO
 60.57   A2/6 B30/40   $105,975.61    507   Sebring                FL      33870   CO
 80.00   A2/6 B30/40   $ 52,793.61    507   Memphis                TN      38111   P
 80.00   A2/6 B30/40   $227,900.75    507   Meridian               ID      83642   CO
 75.00   A3/6 B30/40   $149,963.84    507   Suitland               MD      20746   CO
 85.00   A3/6          $445,827.45    507   La Quinta              CA-S    92253   CO
 61.54   F30           $ 31,932.86    507   Philadelphia           PA      19132   CO
 69.07   A2/6 B30/40   $148,470.55    507   Carol Stream           IL      60188   CO
 75.00   A2/6 B30/40   $498,402.71    507   Old Bridge             NJ       7747   CO
 61.56   F30           $114,430.63    507   Middleburg             FL      32068   CO
 41.67   A2/6          $149,519.00    508   Bridgeport             CT       6604   CO
 80.00   A2/6          $ 93,352.69    508   Louisville             KY      40216   P
 75.00   A2/6          $291,956.59    508   San Diego              CA-S    92105   CO
 80.00   A2/6          $259,742.66    508   Lakewood               WA      98498   CO
 81.23   B30/40        $125,858.19    508   Grove City             OH      43123   CO
 75.00   A3/6          $112,348.49    508   Daytona Beach          FL      32114   CO
 70.00   A2/6          $216,807.16    508   Kansas City            KS      66109   CO
 80.00   A3/6 B30/40   $333,478.62    508   Avondale               AZ      85323   CO
 85.00   A3/6          $186,826.65    508   Columbus               OH      43209   CO
 61.58   A3/6          $467,227.16    508   Queen Creek            AZ      85242   CO
 80.00   A2/6          $123,368.61    508   San Angelo             TX      76904   CO
 75.00   A2/6          $ 59,071.55    509   Flint                  MI      48504   CO
 62.15   A2/6          $109,631.88    509   Oroville, Ca 95966     CA-N    95966   CO
 70.00   A2/6          $136,140.69    509   Lincoln                RI       2865   CO
 60.00   A2/6          $140,686.85    509   Williamsburg           VA      23185   CO
 50.43   A3/6          $117,759.60    509   Fort Lauderdale        FL      33311   CO
 63.42   A2/6          $240,610.28    509   Seattle                WA      98118   CO
 80.00   A3/6          $ 87,871.84    509   Houston                TX      77067   CO
 80.00   A2/6          $159,838.57    509   Frisco                 TX      75035   CO
 85.00   A2/6          $110,363.48    509   Bainbridge             GA      39819   CO
 80.88   B30/40        $175,410.58    509   Denver                 CO      80222   CO
 70.00   A2/6          $153,874.39    509   Delanco                NJ       8075   CO
 80.00   A3/6          $103,098.08    510   Loves Park             IL      61111   RT
 70.00   A2/6          $261,474.85    510   Everett                WA      98201   CO
 80.00   A2/6          $ 75,093.87    510   Des Moines             IA      50316   CO
 85.00   B30/40        $140,189.67    510   Parker                 PA      16049   CO
 85.00   A2/6 B30/40   $108,730.16    510   Covington              GA      30016   CO
 80.00   A2/6          $148,919.95    511   Pine Hill              NJ       8009   CO
 67.00   A2/6 B30/40   $239,497.04    511   Germantown             MD      20874   CO
 75.00   A2/6          $191,598.96    511   Clermont               FL      34711   CO
 80.00   A2/6          $ 75,881.47    511   Salem                  OH      44460   P
 75.00   A2/6          $199,984.29    511   Baltimore              MD      21224   RT
 34.79   A2/6          $121,707.75    511   Portland               OR      97210   CO
 85.00   F30           $190,993.50    511   Hanford                CA-S    93230   CO
 85.00   A3/6          $150,316.29    511   Hastings               MI      49058   CO
 85.00   F30           $127,359.89    511   Lanett                 AL      36863   CO
 85.00   A2/6 B30/40   $177,606.00    511   Quakertown             PA      18951   CO
 85.00   A2/6 B30/40   $267,535.20    512   Port Saint Lucie       FL      34953   CO
 55.00   A2/6 B30/40   $164,837.26    512   Corona                 CA-S    92879   CO
 70.00   A2/6          $167,682.00    512   Tucson                 AZ      85741   CO
 51.75   A2/6          $192,241.85    512   Miami                  FL      33161   CO
 56.25   A3/6          $103,310.95    512   Wilmington             NC      28411   CO
 65.00   F30           $227,337.01    512   Hialeah                FL      33015   CO
 75.00   A2/6          $280,999.60    512   Worth                  IL      60482   CO
 79.82   A3/6          $260,760.10    512   Dallas                 TX      75214   CO
 70.00   A3/6          $248,295.13    512   Newark                 NJ       7108   CO
 63.33   A2/6          $218,239.72    512   Rialto                 CA-S    92376   CO
 80.00   A2/6          $127,796.29    512   Gonzales               LA      70737   P
 85.00   A2/6          $124,858.51    512   Higginsville           MO      64037   P
 80.00   A2/6 B30/40   $379,779.98    512   Clinton                MD      20735   CO
 69.91   A2/6 B30/40   $ 78,975.29    512   Hampton                VA      23669   CO
 75.00   A2/6          $134,865.26    512   Greenbrier             TN      37073   CO
 56.52   F20           $ 64,816.66    512   Grand Bay              AL      36541   CO
 75.00   A2/6          $198,118.95    513   Orange                 NJ       7050   CO
 40.00   A2/6          $ 49,824.21    513   Pompano Beach          FL      33064   P
 70.00   A2/6 B30/40   $234,285.04    513   Victorville            CA-S    92394   CO
 51.15   A2/6          $ 66,397.92    513   Norfolk                VA      23523   CO
 42.37   A2/6          $224,624.63    513   Chantilly              VA      20151   CO
 70.00   A3/6          $174,525.59    513   Miramar                FL      33023   CO
 75.00   A2/6          $ 69,634.86    513   Millville              NJ       8332   CO
 60.13   F30           $111,696.01    513   Orlando                FL      32808   CO
 71.05   A2/6 B30/40   $269,914.26    513   Wesley Chapel          FL      33543   CO
 84.21   A3/6 B30/40   $239,923.54    513   Santa Rosa             CA-N    95403   CO
 66.16   A2/6          $302,289.14    514   Norwalk                CA-S    90650   CO
 44.00   F30           $ 65,885.26    514   Morristown             TN      37814   CO
 25.00   A2/6          $324,340.09    514   Newport Beach          CA-S    92660   CO
 74.99   A3/6          $208,729.21    514   Euharlee               GA      30145   P
 51.67   A3/6          $154,783.14    514   Howell                 NJ       7731   CO
 80.00   F30           $175,841.92    514   Norfolk                VA      23518   P
 69.44   A3/6          $124,753.72    514   District Heights       MD      20747   RT
 80.00   A2/6          $123,931.56    514   New Britain            CT       6051   CO
 74.85   A2/6 B30/40   $121,980.64    514   Pompano Beach          FL      33069   CO
 60.00   A2/6 B30/40   $272,894.52    514   Scottsdale             AZ      85254   CO
 63.19   F30           $ 85,157.70    514   Dell Rapids            SD      57022   CO
 85.00   A2/6          $116,285.67    514   Burlington             KY      41005   RT
 80.00   A3/6          $190,315.75    514   Terrebonne             OR      97760   CO
 63.56   A2/6 B30/40   $320,585.40    515   Inglewood              CA-S    90305   CO
 55.56   A2/6          $ 99,734.33    515   Hampton                VA      23661   CO
 80.00   A3/6          $139,872.94    515   Miami                  FL      33126   CO
 80.00   A2/6          $108,661.94    515   Berwick                PA      18603   CO
 75.00   A3/6          $191,072.71    515   Fort Lauderdale        FL      33312   CO
 62.75   A2/6 B30/40   $127,979.44    515   Jacksonville           FL      32219   CO
 80.00   A2/6 B30/40   $147,976.59    515   Orange                 NJ       7050   CO
 80.00   A2/6 B30/40   $ 83,967.04    515   Milwaukee              WI      53208   P
 75.00   A2/6          $232,220.39    515   Maricopa               AZ      85239   CO
 80.00   A3/6          $171,478.96    516   Island Lake            IL      60042   RT
 58.82   F30           $ 49,883.62    516   Jacksonville           FL      32209   CO
 64.89   A2/6          $176,301.03    516   Baltimore              MD      21214   CO
 62.82   A3/6          $222,624.11    516   Miramar                FL      33025   CO
 80.00   A2/6          $106,277.12    516   Nogales                AZ      85621   CO
 70.00   B15/30        $122,125.54    516   Lansing                IL      60438   RT
 80.00   F30           $ 58,308.45    516   Gainesville            TX      76240   CO
 80.00   A2/6          $133,029.42    517   Ocala                  FL      34476   CO
 70.00   A2/6 B30/40   $132,932.34    517   Phoenix                AZ      85017   CO
 43.24   A2/6          $159,753.15    517   Mission Viejo          CA-S    92691   CO
 70.00   A2/6          $118,705.54    517   Chicago                IL      60623   CO
 61.92   A3/6          $186,565.88    517   Roslindale             MA       2131   CO
 75.00   A3/6          $119,873.52    517   New Port Richey        FL      34655   CO
 85.00   A2/6          $ 97,679.94    517   Leavenworth            KS      66048   CO
 85.00   A3/6          $227,457.35    517   Richmond               VA      23223   P
 80.00   A2/6 B30/40   $199,857.62    518   Streamwood             IL      60107   CO
 85.00   A3/6          $135,868.48    518   Grandview              MO      64030   CO
 74.84   F30           $231,688.87    518   Attleboro              MA       2703   CO
 70.00   A3/6          $101,313.83    518   Decatur                GA      30032   CO
 16.97   F30           $ 26,276.15    518   Smyrna                 TN      37167   CO
 54.39   A2/6 B30/40   $154,932.53    518   Shandon                CA-S    93461   CO
 80.00   A2/6          $ 91,898.38    518   El Paso                TX      79936   CO
 82.61   A2/6          $ 75,924.94    518   Huntsville             AL      35810   CO
 74.55   A2/6 B30/40   $204,777.04    518   Auburn                 MA       1501   CO
 78.96   A2/6          $303,094.25    519   Orlando                FL      32835   CO
 75.00   A3/6          $ 74,892.71    519   Springport             IN      47386   P
 77.27   A2/6 B30/40   $169,908.25    519   Bakersfield            CA-S    93307   CO
 67.00   A2/6          $167,268.60    519   Charlestown            RI       2813   CO
 75.00   A2/6          $422,975.28    519   Oxnard                 CA-S    93036   CO
 85.00   A2/6          $275,844.70    519   Clovis                 CA-N    93611   CO
 61.08   A2/6          $243,861.93    519   Apple Valley           CA-S    92307   CO
 80.00   A3/6          $ 63,520.84    519   Detroit                MI      48219   P
 54.90   A2/6          $139,875.34    519   Chicago                IL      60620   CO
 85.00   A2/6          $ 83,234.56    519   Ashland City           TN      37015   CO
 90.00   IOA2/6        $216,000.00    519   West Warwick           RI       2893   CO
 80.00   A2/6          $250,990.67    519   North Lauderdale       FL      33068   CO
 75.00   A2/6 B30/40   $128,933.42    519   Chicago                IL      60617   CO
 60.00   A2/6 B30/40   $ 86,962.68    519   Topeka                 KS      66614   CO
 85.00   F30           $ 53,476.38    519   Jackson                TN      38301   CO
 70.00   A2/6          $313,005.68    520   Montebello             CA-S    90640   CO
 52.26   A2/6          $149,717.45    520   Shasta Lake            CA-N    96019   CO
 80.00   A3/6          $215,694.56    520   Edgewater Park         NJ       8010   CO
 75.00   A2/6          $134,771.27    520   Glenolden              PA      19036   CO
 79.19   A2/6          $390,278.98    520   Bloomington Area       CA-S    92316   CO
 80.00   A2/6          $ 75,148.69    520   Houma                  LA      70360   P
 48.94   A2/6          $114,884.61    520   Severn                 MD      21144   CO
 79.88   A2/6          $ 65,479.63    520   Los Fresnos            TX      78566   RT
 44.00   A2/6          $ 50,127.23    520   Houston                TX      77075   CO
 73.96   F30           $ 70,919.94    520   New Ulm                TX      78950   CO
 80.00   F30           $ 35,990.84    520   Kermit                 TX      79745   CO
 80.00   A3/6 B30/40   $211,985.09    520   Tolleson               AZ      85353   P
 85.00   A3/6          $122,341.05    520   Fort Pierce            FL      34946   CO
 80.00   F30           $111,877.15    520   Crosby                 TX      77532   CO
 80.00   A2/6 B30/40   $131,938.25    520   Brainerd               MN      56401   P
 40.96   A2/6          $169,661.54    521   Orange                 CA-S    92867   CO
 85.00   A2/6          $ 64,501.40    521   Detroit                MI      48227   CO
 65.00   A2/6          $288,798.89    521   Silver Spring          MD      20901   CO
 80.00   F30           $165,436.46    521   Chicago                IL      60652   CO
 63.00   A2/6          $267,443.96    521   Pomona                 CA-S    91767   CO
 69.33   F30           $259,687.29    521   Morton Grove           IL      60053   CO
 85.00   B30/40        $186,940.42    521   Branford               CT       6405   P
 80.00   A2/6          $231,782.64    521   Colchester             NY      12776   CO
 80.00   F30           $ 49,899.97    522   Cherryville            NC      28021   P
 80.00   A2/6          $135,603.04    522   Bloomfield             CT       6002   CO
 48.39   A2/6          $299,479.02    522   Santa Ana              CA-S    92704   CO
 58.24   F30           $ 98,767.24    522   Virginia Beach         VA      23452   CO
 80.00   A3/6          $ 72,700.48    522   Detroit                MI      48224   P
 80.00   F30           $ 74,723.54    522   Hickory                NC      28602   CO
 80.00   A2/6          $ 66,307.29    522   Johnson City           TN      37601   P
 70.77   A2/6          $183,917.73    522   Garden Plain           KS      67050   CO
 69.88   A2/6 B30/40   $254,943.37    522   Rialto                 CA-S    92376   CO
 85.00   A2/6 B30/40   $286,312.56    522   Sacramento             CA-N    95828   CO
 80.00   A3/6 B30/40   $131,948.21    522   Long Pond              PA      18334   CO
 54.50   A2/6          $108,967.76    522   Stroudsburg            PA      18360   CO
 75.00   A2/6          $392,950.51    523   Bronx                  NY      10466   CO
 71.85   A3/6          $244,667.91    523   Woodbridge             VA      22191   CO
 66.00   A2/6          $265,155.13    523   Waldorf                MD      20601   CO
 64.52   A2/6          $ 99,868.29    523   Jacksonville           TX      75766   P
 75.00   A2/6          $408,339.88    523   Antioch                CA-N    94531   CO
 40.00   A2/6          $191,676.34    523   Pomona                 NY      10970   CO
 80.00   A3/6 B30/40   $ 99,963.05    523   Montesano              WA      98563   CO
 70.00   A2/6          $146,941.58    523   Warwick                RI       2889   CO
 70.00   A2/6          $243,994.54    524   Plantation             FL      33317   CO
 80.00   F30           $103,365.72    524   Cypress                TX      77429   P
 60.44   A2/6          $274,568.99    524   Lake Elsinore          CA-S    92530   CO
 65.00   A3/6          $201,140.52    524   Miami                  FL      33168   CO
 82.00   A3/6          $188,281.28    524   Carrollton             TX      75006   RT
 67.65   A3/6          $164,809.44    524   Windsor Mill           MD      21244   CO
 64.29   A2/6 B30/40   $449,784.42    524   Honolulu               HI      96819   CO
 69.75   A2/6 B30/40   $192,455.73    524   Chico                  CA-N    95926   CO
 60.00   A2/6 B30/40   $164,966.21    524   Naples                 FL      34113   CO
 75.00   A2/6 B30/40   $153,679.20    524   Phoenix                AZ      85033   CO
 85.00   F30           $ 78,137.56    524   Tyrone                 PA      16686   CO
 85.00   A2/6 B30/40   $ 67,956.42    524   Benton Harbor          MI      49022   CO
 85.00   A3/6 B30/40   $144,258.03    525   Deltona                FL      32725   CO
 69.88   A2/6 B30/40   $289,525.83    525   Lathrop                CA-N    95330   CO
 80.00   F30           $ 57,748.84    525   Fort Deposit           AL      36032   P
 61.82   A2/6          $169,592.09    525   New Haven              CT       6519   CO
 80.00   A2/6          $ 61,503.66    525   Lansing                MI      48906   P
 85.00   A3/6          $212,279.90    525   Albrightsville         PA      18210   CO
 79.99   A3/6          $ 95,876.23    525   Houston                TX      77072   RT
 90.00   A3/6          $ 89,912.97    525   Little Rock            AR      72205   CO
 80.00   A2/6          $ 50,757.21    525   Ellwood City           PA      16117   RT
 85.00   A3/6          $127,394.66    525   Chesapeake             VA      23324   CO
 42.40   A3/6 B30/40   $105,960.73    525   Prescott               AZ      86303   CO
 64.40   A3/6 B30/40   $122,905.26    525   Salem                  OR      97304   CO
 52.08   A2/6 B30/40   $137,958.12    525   Charlton               MA       1507   CO
 80.00   A2/6          $119,850.97    525   Independence           MO      64056   CO
 80.00   F30           $ 75,874.50    525   Joshua                 TX      76058   CO
 45.59   A2/6 B30/40   $154,900.04    525   Citrus Heights         CA-N    95610   CO
 75.00   A2/6 B30/40   $337,338.30    525   Oxnard                 CA-S    93030   RT
 85.00   A2/6          $ 67,663.35    526   Lakeview               MI      48850   CO
 84.66   F30           $159,415.94    526   Waterbury              CT       6704   CO
 18.18   A2/6          $199,548.82    526   Larkspur               CA-N    94939   CO
 80.00   A3/6          $171,738.74    526   Laingsburg             MI      48848   CO
 69.31   A3/6          $ 69,909.27    526   Whitehall              MI      49461   CO
 85.00   F30           $118,831.73    526   Mooresville            IN      46158   CO
 82.67   A3/6          $247,568.81    526   Woodstock              IL      60098   CO
 84.66   A3/6          $ 88,797.22    526   Orlando                FL      32805   CO
 51.61   A3/6          $239,757.94    526   Boca Raton             FL      33431   P
 70.00   A3/6          $363,566.91    526   Bristol                RI       2809   CO
 18.33   A2/6          $ 44,731.64    526   California City        CA-S    93505   P
 85.00   A2/6          $138,153.47    526   Cameron                MO      64429   P
 46.55   A3/6 B30/40   $134,934.85    526   Lancaster              CA-S    93535   CO
 85.00   A3/6          $113,730.57    526   Saint Louis            MO      63121   CO
 85.00   A3/6 B30/40   $121,497.08    526   Wilmington             DE      19802   CO
 70.80   A2/6          $ 79,676.28    527   Sandston               VA      23150   CO
 80.00   A2/6          $ 95,845.06    527   Phoenix                AZ      85032   P
 80.00   A3/6          $375,346.29    527   Lisle                  IL      60532   CO
 85.00   A2/6          $118,881.22    527   Tallahassee            FL      32311   CO
 67.87   A2/6          $112,874.53    527   Tullahoma              TN      37388   CO
 79.99   A3/6          $ 82,472.66    527   Jacksonville           FL      32208   P
 62.50   A2/6          $ 74,903.03    527   Phoenix                AZ      85008   CO
 68.03   A2/6          $299,574.44    527   Hull                   MA       2045   CO
 74.57   F30           $130,270.70    527   Indianapolis           IN      46205   CO
 69.44   A2/6          $124,862.65    527   Colonie                NY      12205   CO
 69.77   A3/6          $149,579.46    528   Bradenton              FL      34207   CO
 80.00   A3/6          $ 87,781.26    528   Killeen                TX      76549   CO
 73.67   A3/6          $220,453.21    528   Hagerstown             MD      21742   CO
 64.44   A2/6          $144,870.05    528   New Milford            CT       6776   P
 75.00   A3/6          $189,486.19    528   Chicago                IL      60632   CO
 65.00   A2/6          $123,334.37    528   Willingboro            NJ       8046   CO
 75.00   A2/6          $295,830.47    528   Lancaster              CA-S    93534   CO
 79.79   A3/6          $149,866.02    528   Orlando                FL      32818   CO
 80.00   A3/6          $190,229.02    528   District Heights       MD      20747   P
 61.08   A2/6          $112,888.38    528   Chicago                IL      60620   CO
 90.00   F30           $160,533.63    528   Manhattan              KS      66502   P
 70.13   A2/6 B30/40   $269,886.57    528   Merced                 CA-N    95348   CO
 80.00   A3/6 B30/40   $198,111.19    528   Chimacum               WA      98325   P
 70.00   A2/6          $174,934.12    528   East Providence        RI       2914   CO
 75.00   A2/6          $269,304.19    529   Tustin                 CA-S    92782   CO
 85.00   A3/6          $ 92,526.01    529   Duncanville            TX      75116   RT
 85.00   A3/6          $117,158.64    529   Macungie               PA      18062   CO
 54.67   A3/6          $ 81,816.56    529   New Bedford            MA       2745   CO
 80.00   A3/6          $123,083.11    529   Waxahachie             TX      75165   CO
 85.00   A3/6          $140,125.12    529   Tampa                  FL      33615   P
 75.00   A5/6          $ 78,667.16    529   China Spring           TX      76633   CO
 75.00   A2/6          $112,393.46    529   George West            TX      78022   CO
 65.00   A2/6 B30/40   $279,346.85    529   Las Vegas              NV      89123   CO
 61.64   A2/6          $ 71,441.69    529   Croswell               MI      48422   CO
 36.50   B30/40        $145,963.85    529   Lake Worth             FL      33467   CO
 85.00   A3/6          $ 50,906.16    529   Riceville              TN      37370   P
 64.12   A2/6          $271,729.66    530   Cape Coral             FL      33990   CO
 85.00   A2/6          $ 80,604.23    530   South Bend             IN      46619   P
 70.00   A2/6          $188,743.82    530   Avondale               AZ      85323   CO
 84.97   F30           $121,319.28    530   Bourbonnais            IL      60914   CO
 43.01   A3/6          $199,645.04    530   Miami                  FL      33186   CO
 75.00   A2/6          $185,812.39    530   Fort Lauderdale        FL      33311   CO
 85.00   A3/6          $151,153.68    530   Springfield            MA       1109   CO
 85.00   A2/6 B30/40   $356,846.44    530   Frankfort              IL      60423   CO
 77.00   A2/6          $172,817.11    530   Inez                   TX      77968   CO
 48.39   A2/6          $224,799.66    530   Woodstock              GA      30189   CO
 85.00   A2/6          $146,060.08    530   Richton Park           IL      60471   CO
 80.00   A3/6 B30/40   $227,852.35    530   Eugene                 OR      97401   CO
 80.00   F30           $507,846.37    530   Summit                 NJ       7901   CO
 65.00   A2/6          $141,510.37    531   Cocoa                  FL      32927   CO
 69.75   A3/6          $131,635.91    531   Fort Myers             FL      33916   CO
 85.00   A3/6          $263,306.02    531   Fredericksburg         VA      22405   CO
 81.94   A3/6          $117,884.99    531   Apollo                 PA      15613   CO
 80.00   A2/6 B30/40   $165,468.66    531   West Springfield       MA       1089   CO
 85.00   A3/6 B30/40   $196,282.73    531   Mesa                   AZ      85207   CO
 85.00   A2/6 B30/40   $311,713.19    531   Thomasville            GA      31757   CO
 70.00   A3/6          $ 99,320.63    531   Richmond               VA      23230   CO
 69.44   A3/6          $249,399.74    532   Baltimore              MD      21229   CO
 66.33   A2/6 B30/40   $399,359.04    532   Flemington             NJ       8822   CO
 85.00   B30/40        $197,029.08    532   North Port             FL      34286   CO
 65.00   A2/6          $107,093.22    532   Philadelphia           PA      19144   CO
 70.00   A2/6          $192,204.54    532   Homestead              FL      33033   CO
 75.00   A2/6 B30/40   $419,620.61    532   Jamaica                NY      11434   CO
 85.00   A3/6          $129,072.13    532   Pell Lake              WI      53157   RT
 85.00   A3/6          $ 72,124.39    532   East Alton             IL      62024   CO
 70.00   A2/6          $377,493.06    532   Vail                   AZ      85641   CO
 70.00   A2/6          $192,299.64    532   North Scituate         RI       2857   CO
 80.00   A2/6 B30/40   $198,376.20    532   Tampa                  FL      33613   CO
 80.00   F30           $123,842.10    532   Nevada                 TX      75173   CO
 85.00   A3/6          $128,964.87    532   New Freeport           PA      15352   P
 73.47   B30/40        $179,935.96    532   Kissimmee              FL      34759   CO
 80.00   A3/6 B30/40   $187,091.88    532   Tampa                  FL      33615   P
 61.33   F15           $ 45,772.97    532   Fort Stockton          TX      79735   CO
 67.58   A3/6          $172,571.98    533   Pensacola              FL      32504   RT
 85.00   A3/6          $381,695.93    533   Fairfield              CA-N    94533   CO
 88.70   F30           $146,107.88    533   Spring                 TX      77373   RT
 80.00   F30           $ 67,936.28    533   Muncy                  PA      17756   CO
 67.14   F30           $236,731.91    533   Riverside              IL      60546   CO
 69.49   A2/6          $204,774.74    533   Providence             RI       2905   CO
 80.00   A2/6 B30/40   $263,903.66    533   Stockton               CA-N    95205   CO
 80.00   A3/6 B30/40   $319,567.90    533   Rialto                 CA-S    92376   CO
 85.00   A2/6          $ 72,588.98    533   Findlay                OH      45840   RT
 70.00   A2/6          $ 59,452.50    533   Akron                  OH      44304   CO
 80.00   A2/6 B30/40   $335,882.79    533   Boynton Beach          FL      33437   CO
 80.00   A2/6          $ 76,667.82    533   Irving                 TX      75061   CO
 33.91   A3/6          $116,861.34    533   North Palm Beach       FL      33408   CO
 79.81   F30           $ 84,902.00    533   Old Town               FL      32680   CO
 70.00   A2/6          $132,887.97    533   Westerlo               NY      12193   CO
 66.72   F30           $116,929.10    533   Alfred Station         NY      14803   CO
 80.00   A2/6          $307,689.34    533   Puyallup               WA      98374   CO
 64.32   F30           $282,469.91    534   Linville               NC      28646   CO
 64.33   A2/6          $311,324.37    534   Clarkston              MI      48348   CO
 63.75   A3/6          $159,091.57    534   Plantation             FL      33313   CO
 77.78   F30           $118,823.00    534   Granger                IN      46530   CO
 75.00   A2/6          $149,828.55    534   Lauderhill             FL      33311   RT
 84.99   A3/6          $155,680.88    534   Independence           MO      64058   P
 66.84   A2/6          $326,854.63    534   Norwalk                CA-S    90650   CO
 80.00   A2/6          $219,798.20    534   El Paso                TX      79925   RT
 40.27   A2/6 B30/40   $119,929.01    534   Bakersfield            CA-S    93306   CO
 70.00   A2/6 B30/40   $128,061.72    534   Phoenix                AZ      85035   CO
 80.00   F30           $127,927.11    534   Silverlake             WA      98645   CO
 80.00   F30           $103,100.18    534   Waco                   TX      76708   CO
 85.00   A2/6          $148,388.43    535   Florissant             MO      63033   P
 70.00   A2/6          $185,124.12    535   Tucson                 AZ      85704   CO
 78.87   A2/6          $111,872.36    535   Asheville              NC      28806   CO
 80.00   A2/6          $239,692.87    535   Kissimmee              FL      34743   CO
 95.00   B30/40        $163,366.28    535   Brandon                MS      39047   P
 80.00   F30           $103,892.31    535   Chicago                IL      60628   RT
 64.93   A2/6 B30/40   $136,932.91    535   Shafter                CA-S    93263   CO
 65.57   A2/6          $199,771.40    535   Central Islip          NY      11722   CO
 75.00   A2/6          $172,405.58    535   Hamden                 CT       6514   RT
 65.00   A3/6          $126,212.97    536   Kissimmee              FL      34744   CO
 41.21   A3/6          $135,739.83    536   Brookfield             CT       6804   CO
 69.47   A2/6 B30/40   $197,796.64    536   Warren                 RI       2885   CO
 75.00   A2/6 B30/40   $258,441.81    536   Hesperia               CA-S    92345   CO
 85.00   F30           $ 75,575.28    536   Angola                 IN      46703   CO
 70.00   A3/6          $293,700.34    536   Port Saint Lucie       FL      34986   CO
 70.00   A2/6 B30/40   $216,954.54    536   Dillon                 CO      80435   CO
 56.82   A2/6 B30/40   $124,980.75    536   Millville              MN      55957   CO
 85.00   A2/6          $114,710.83    536   Columbus               GA      31909   CO
 75.00   F30           $ 55,982.61    536   San Antonio            TX      78201   CO
 80.00   A2/6          $175,912.51    536   Putnam                 CT       6260   CO
 72.85   A2/6 B30/40   $219,726.46    537   Selma                  CA-N    93662   CO
 75.00   A3/6          $113,734.59    537   Southfield             MI      48075   CO
 60.00   A2/6          $299,265.28    537   Los Angeles            CA-S    90011   CO
 68.35   A3/6          $161,748.73    537   Alsip                  IL      60803   CO
 70.00   A3/6          $168,994.13    537   Tampa                  FL      33647   CO
 78.95   A3/6          $119,855.37    537   Defuniak Springs       FL      32433   CO
 80.00   A3/6          $114,202.12    537   Cedar Park             TX      78613   RT
 75.00   A2/6          $256,246.14    537   Gustine                CA-N    95322   CO
 53.54   A2/6          $324,561.52    537   Los Angeles            CA-S    90007   CO
 54.82   A3/6          $127,779.74    537   Denver                 CO      80220   CO
 75.00   A2/6          $256,410.07    537   Queen Creek            AZ      85242   P
 35.87   A2/6          $134,380.25    537   Walpole                MA       2081   CO
 75.00   A2/6          $129,605.99    537   Southhampton           NJ       8088   P
 72.05   F30           $ 49,937.25    537   Waynesfield            OH      45896   CO
 79.49   A2/6          $ 49,926.87    538   Tulsa                  OK      74106   CO
 75.00   F30           $131,794.16    538   Tucson                 AZ      85742   CO
 70.21   A2/6          $234,260.98    538   Newark                 NJ       7104   CO
 65.00   A2/6          $194,764.85    538   Atwater                CA-N    95301   CO
 85.00   A2/6          $ 70,497.39    538   Heppner                OR      97836   CO
 80.00   A2/6          $194,321.91    538   Warwick                RI       2888   CO
 67.90   A2/6 B30/40   $293,823.54    538   Upper Marlboro         MD      20772   CO
 75.00   A2/6 B30/40   $123,725.82    538   Zephyrhills            FL      33541   RT
 78.37   A3/6 B30/40   $206,867.18    538   Phoenix                AZ      85037   CO
 66.53   A2/6          $ 82,379.82    539   Acworth                GA      30101   CO
 81.03   A3/6          $164,312.13    539   Virginia Beach         VA      23452   CO
 77.45   A2/6          $142,292.01    539   Stroudsburg            PA      18360   CO
 43.85   A3/6          $ 85,358.12    539   Brockton               MA       2301   CO
 55.82   A2/6 B30/40   $306,820.96    539   San Diego              CA-S    92126   CO
 75.00   A3/6 B30/40   $374,806.68    539   Tewksbury              MA       1876   CO
 79.23   A2/6          $102,864.08    539   Montevallo             AL      35115   CO
 80.00   F30           $171,843.07    539   Nashua                 NH       3060   CO
 80.00   A2/6 B30/40   $399,344.90    540   Los Angeles            CA-S    90003   CO
 52.70   A2/6          $165,408.33    540   Hialeah                FL      33018   CO
 72.41   F30           $ 97,513.04    540   Detroit                MI      48235   RT
 67.84   A3/6          $142,941.52    540   Miami Gardens          FL      33054   CO
 70.00   A2/6          $153,789.50    540   North Port             FL      34287   CO
 75.00   A2/6          $211,903.20    540   Plainfield             NJ       7062   RT
 71.88   A2/6          $229,691.54    540   Paterson               NJ       7504   CO
 80.00   A3/6          $ 99,098.89    540   Holland                MI      49423   RT
 85.00   A3/6          $ 94,264.19    540   Mcallen                TX      78501   P
 85.00   A2/6          $190,793.43    540   Watervliet/Colonie     NY      12189   CO


                                                                                                              SILENT
                                     DTI     DOC             REMAINING               PROPERTY                 SECOND
CLTV     PRODUCT       BALANCE       BACK    TYPE   RATE     TERM        OCCUPANCY   TYPE       LIEN STATUS   FLAG     MI
------   -----------   -----------   -----   ----   ------   ---------   ---------   --------   -----------   ------   --

 65.00   A3/6          $129,743.85   52.49   LIM     9.550    356        P           TH                   1   N
 75.00   A2/6          $115,335.28   38.72   FULL    9.700    357        P           SFR                  1   N
 52.65   A2/6          $128,834.56   17.41   STD    10.200    357        P           SFR                  1   N
 51.72   A3/6          $ 74,897.26   48.72   FULL    9.890    357        P           SFR                  1   N
100.00   B15/30        $ 40,964.36   49.88   STD    11.990    177        P           SFR                  2   N
 80.00   A3/6          $ 92,670.17   44.06   FULL    9.790    357        P           SFR                  1   N
 80.00   A2/6          $327,501.70   40.91   FULL    9.890    357        P           SFR                  1   N
100.00   F30           $ 30,558.61   36.08   FULL    9.950    357        P           SFR                  2   N
 80.00   A2/6          $342,088.60   47.74   FULL    9.890    358        P           SFR                  1   N
 70.00   A2/6          $279,690.72   45.35   FULL    8.965    358        P           SFR                  1   N
 38.60   A2/6          $109,883.08   45.41   FULL    9.150    358        P           SFR                  1   N
 80.00   A2/6 B30/40   $154,355.43   39.62   FULL   10.313    358        P           SFR                  1   N
 70.91   A2/6 B30/40   $155,959.38   48.23   FULL   10.650    358        P           SFR                  1   N
 70.00   A2/6          $153,659.24   44.69   FULL   10.950    354        P           CO                   1   N
 74.47   A2/6 B30/40   $632,297.93   46.87   STD     9.550    354        P           SFR                  1   N
 52.54   F30           $309,386.47   38.93   STD    10.600    355        P           2F                   1   N
 63.77   A2/6          $131,877.74   29.70   STD    11.700    357        P           SFR                  1   N
 80.00   A3/6          $ 71,944.23   35.31   FULL   10.640    358        P           SFR                  1   N
 73.64   A2/6          $167,604.46   44.77   FULL    8.690    357        P           SFR                  1   N
 80.00   F30           $ 61,552.64   39.20   FULL   10.675    358        P           SFR                  1   N
 76.76   F30           $ 57,514.95   35.89   FULL   11.725    357        I           SFR                  1   N
 68.15   B30/40        $ 91,940.35   34.80   STD     8.990    357        P           SFR                  1   N
 80.00   A3/6 B30/40   $145,545.07   49.82   FULL    9.430    358        P           SFR                  1   N
 80.00   A3/6          $ 76,425.19   37.16   FULL   10.999    358        P           CO                   1   N
 59.67   A2/6          $111,712.75   31.14   FULL    9.375    355        P           PUD                  1   N
 75.00   A3/6          $ 80,875.69   45.89   STD     9.350    357        P           SFR                  1   N
 69.92   A3/6          $ 92,873.95   47.35   STD     9.940    357        P           SFR                  1   N
 72.29   A3/6          $186,295.50   47.27   FULL    9.000    358        P           SFR                  1   N
 75.00   A2/6          $ 47,209.71   21.04   FULL   12.075    357        P           SFR                  1   N
 52.78   A2/6 B30/40   $189,962.32   21.56   FULL    9.250    359        P           SFR                  1   N
 80.00   A2/6 B30/40   $197,941.73   30.17   FULL   10.250    358        P           SFR                  1   N
 80.00   A2/6          $ 64,464.59   14.47   STD    10.900    356        P           SFR                  1   N
 70.00   A2/6          $ 52,425.70   38.29   STD    11.100    356        P           SFR                  1   N
 75.00   A2/6          $ 85,814.79   27.72   STD    11.100    358        P           SFR                  1   N
 85.00   A3/6          $280,250.72   38.76   FULL    9.999    358        P           SFR                  1   N
 75.00   A2/6 B30/40   $114,730.42   46.28   FULL    9.750    359        P           SFR                  1   N
 75.00   A2/6 B30/40   $553,251.85   49.50   LIM     8.850    358        P           PUD                  1   N
 85.00   A2/6          $195,134.76   42.89   FULL    8.400    357        P           SFR                  1   N
 80.00   A3/6          $191,824.82   46.60   FULL    9.875    358        P           TH                   1   Y
 75.00   A2/6          $189,446.32   54.91   FULL    9.150    357        P           SFR                  1   N
 79.08   A3/6          $154,738.18   41.71   FULL    8.890    357        P           SFR                  1   N
 75.00   A2/6          $115,448.79   36.81   FULL    9.990    359        P           SFR                  1   N
 68.18   A3/6          $157,284.71   54.82   FULL    9.900    357        P           2F                   1   N
 75.00   A3/6          $131,840.91   48.37   FULL   10.490    357        P           SFR                  1   N
 69.78   A2/6 B30/40   $156,962.16   42.20   FULL   10.900    358        P           SFR                  1   N
 68.37   A2/6 B30/40   $146,959.93   46.56   FULL   10.500    358        P           SFR                  1   N
 85.00   A3/6 B30/40   $182,687.39   45.12   FULL    9.750    358        P           SFR                  1   N
 84.34   F20           $ 63,593.28   28.45   FULL   10.199    239        P           SFR                  1   N
 55.56   F30           $ 74,891.08   43.25   FULL    7.625    358        P           SFR                  1   N
 75.00   A3/6          $157,300.16   41.30   STD    10.250    357        P           SFR                  1   N
 70.72   F30           $212,879.10   40.85   FULL    7.650    356        P           SFR                  1   N
 79.98   A2/6          $114,677.39   46.59   FULL    9.450    357        P           SFR                  1   N
 75.00   A3/6          $340,736.01   49.10   STD     9.440    357        P           SFR                  1   N
 68.69   A2/6          $135,878.11   41.25   STD    11.850    357        P           SFR                  1   N
 80.00   A3/6          $343,401.91   46.09   FULL    8.750    357        P           SFR                  1   N
 80.00   A3/6          $ 59,951.59   25.01   FULL   10.450    358        P           SFR                  1   N
 75.00   A3/6          $116,159.18   43.80   FULL   10.600    358        P           SFR                  1   N
 80.00   F30           $ 91,851.83   38.95   FULL   10.500    356        P           SFR                  1   N
 75.00   A2/6 B30/40   $239,959.67   49.14   FULL    9.800    359        S           SFR                  1   N
 80.00   F30           $ 91,067.85   46.72   FULL    9.625    357        P           SFR                  1   N
 71.34   F30           $233,718.38   39.49   FULL    8.550    358        P           SFR                  1   N
 72.73   A2/6          $159,824.18   43.70   FULL    8.990    358        P           CO                   1   N
 85.00   A2/6          $174,015.32   46.99   FULL    7.999    358        P           TH                   1   N
 61.43   A2/6 B30/40   $193,428.51   43.22   STD     9.499    358        P           SFR                  1   N
 80.00   A3/6 B30/40   $ 91,972.91   41.16   FULL   10.250    358        P           SFR                  1   N
 44.34   A2/6          $233,912.76   37.92   FULL    8.850    352        P           SFR                  1   N
 80.00   A2/6          $286,704.25   52.94   LIM     9.575    351        P           SFR                  1   N
 80.00   A3/6          $181,450.28   50.39   FULL   10.350    358        P           SFR                  1   N
 80.00   A3/6          $ 95,907.17   54.57   FULL    9.600    358        P           SFR                  1   N
 80.00   A2/6 B30/40   $175,924.28   39.56   FULL    8.990    358        P           SFR                  1   N
 80.00   A2/6          $ 67,954.37   40.05   FULL   11.300    358        P           SFR                  1   N
 84.80   F30           $105,847.55   50.56   FULL    9.660    357        P           SFR                  1   N
 80.00   A2/6 B30/40   $141,533.01   41.16   FULL   10.990    356        I           SFR                  1   N
 50.00   A2/6          $204,214.64   50.98   STD     9.100    353        P           SFR                  1   N
 70.00   A2/6          $117,203.21   16.80   FULL    8.950    354        P           SFR                  1   N
 60.95   A2/6          $159,537.74   50.11   FULL    8.800    355        P           SFR                  1   N
 57.59   A2/6          $109,686.41   46.99   FULL    7.750    356        P           SFR                  1   N
 73.88   F30           $366,582.71   47.50   FULL   10.300    356        P           SFR                  1   N
 73.28   A2/6          $254,368.03   54.22   FULL    6.990    357        P           SFR                  1   N
 78.67   F30           $112,332.68   47.87   FULL    9.500    357        P           SFR                  1   N
 59.66   A2/6 B30/40   $199,756.35   54.95   FULL    8.700    358        P           PUD                  1   N
 57.14   A3/6          $ 71,926.60   29.56   FULL    9.350    358        P           SFR                  1   N
 80.00   A3/6          $167,762.73   36.47   FULL   10.990    357        P           SFR                  1   N
 75.00   A3/6          $101,137.68   29.29   LIM    10.875    357        P           SFR                  1   N
 80.00   A2/6          $191,637.29   44.71   FULL    9.750    356        P           SFR                  1   N
 65.54   A2/6          $ 96,748.15   21.69   FULL    8.900    356        P           SFR                  1   N
 73.82   A3/6          $202,724.84   48.71   STD     9.940    357        P           SFR                  1   N
 80.00   A3/6          $ 79,900.43   46.29   FULL   10.340    357        P           SFR                  1   N
 85.00   A3/6          $ 78,652.68   37.76   FULL   10.925    358        P           SFR                  1   N
 85.00   A2/6          $ 76,433.10   46.00   FULL   10.075    358        P           SFR                  1   N
 75.00   A2/6          $ 52,478.91   32.55   FULL   10.450    359        P           SFR                  1   N
 60.57   A2/6 B30/40   $105,975.61   36.06   FULL    8.750    359        P           SFR                  1   N
 80.00   A2/6 B30/40   $ 52,793.61   37.38   STD    10.875    359        P           SFR                  1   Y
 80.00   A2/6 B30/40   $227,900.75   44.22   STD     8.950    358        P           PUD                  1   N
 75.00   A3/6 B30/40   $149,963.84   46.77   FULL   10.900    358        P           SFR                  1   N
 85.00   A3/6          $445,827.45   22.12   FULL    9.700    358        P           SFR                  1   N
 61.54   F30           $ 31,932.86   18.81   FULL    9.250    356        P           SFR                  1   N
 69.07   A2/6 B30/40   $148,470.55   45.51   FULL    9.250    359        P           SFR                  1   N
 75.00   A2/6 B30/40   $498,402.71   54.80   FULL    8.750    357        P           SFR                  1   N
 61.56   F30           $114,430.63   37.77   FULL    8.500    359        P           SFR                  1   N
 41.67   A2/6          $149,519.00   53.32   FULL    8.290    355        P           2F                   1   N
 80.00   A2/6          $ 93,352.69   55.54   FULL    9.225    357        P           SFR                  1   Y
 75.00   A2/6          $291,956.59   52.48   STD     9.840    356        P           SFR                  1   N
 80.00   A2/6          $259,742.66   47.04   FULL    9.490    358        P           SFR                  1   N
 81.23   B30/40        $125,858.19   51.40   FULL    9.550    358        P           SFR                  1   N
 75.00   A3/6          $112,348.49   41.33   LIM     7.999    358        P           SFR                  1   N
 70.00   A2/6          $216,807.16   37.70   FULL    9.999    358        P           SFR                  1   N
 80.00   A3/6 B30/40   $333,478.62   39.71   FULL    9.550    358        P           PUD                  1   N
 85.00   A3/6          $186,826.65   35.19   FULL    9.800    358        P           SFR                  1   N
 61.58   A3/6          $467,227.16   17.95   FULL    8.999    357        P           SFR                  1   N
 80.00   A2/6          $123,368.61   51.10   FULL    8.725    359        P           SFR                  1   N
 75.00   A2/6          $ 59,071.55   28.60   STD    10.250    353        P           SFR                  1   N
 62.15   A2/6          $109,631.88   23.62   FULL    9.750    353        P           SFR                  1   N
 70.00   A2/6          $136,140.69   32.29   STD     9.250    355        P           CO                   1   N
 60.00   A2/6          $140,686.85   44.83   FULL    9.000    356        P           CO                   1   N
 50.43   A3/6          $117,759.60   48.98   STD     9.390    356        P           SFR                  1   N
 63.42   A2/6          $240,610.28   52.54   FULL    9.100    357        P           SFR                  1   N
 80.00   A3/6          $ 87,871.84   45.40   FULL    9.600    357        P           SFR                  1   N
 80.00   A2/6          $159,838.57   38.69   FULL    9.399    358        P           PUD                  1   N
 85.00   A2/6          $110,363.48   19.21   LIM    10.375    357        P           SFR                  1   N
 80.88   B30/40        $175,410.58   47.38   FULL    8.415    358        P           SFR                  1   N
 70.00   A2/6          $153,874.39   43.16   STD    10.400    358        P           SFR                  1   N
 80.00   A3/6          $103,098.08   22.87   FULL    9.500    358        P           CO                   1   N
 70.00   A2/6          $261,474.85   43.68   STD    10.350    357        P           2F                   1   N
 80.00   A2/6          $ 75,093.87   36.85   FULL    9.750    357        P           SFR                  1   N
 85.00   B30/40        $140,189.67   48.67   FULL    8.990    358        P           SFR                  1   N
 85.00   A2/6 B30/40   $108,730.16   38.75   FULL    9.999    356        P           SFR                  1   N
 80.00   A2/6          $148,919.95   51.30   FULL   10.050    350        P           SFR                  1   N
 67.00   A2/6 B30/40   $239,497.04   42.26   STD     9.500    352        P           PUD                  1   N
 75.00   A2/6          $191,598.96   42.98   FULL    7.850    357        P           PUD                  1   N
 80.00   A2/6          $ 75,881.47   47.57   FULL   10.650    356        P           SFR                  1   Y
 75.00   A2/6          $199,984.29   41.05   STD    10.040    357        P           SFR                  1   N
 34.79   A2/6          $121,707.75   50.43   FULL   11.125    359        P           SFR                  1   N
 85.00   F30           $190,993.50   49.42   FULL    9.990    357        P           SFR                  1   N
 85.00   A3/6          $150,316.29   23.20   FULL    9.999    358        P           SFR                  1   N
 85.00   F30           $127,359.89   40.75   FULL    8.990    358        P           SFR                  1   N
 85.00   A2/6 B30/40   $177,606.00   34.70   FULL    8.499    359        P           CO                   1   N
 85.00   A2/6 B30/40   $267,535.20   42.99   STD     9.250    356        P           SFR                  1   N
 55.00   A2/6 B30/40   $164,837.26   42.76   STD     8.550    356        P           SFR                  1   N
 70.00   A2/6          $167,682.00   43.19   FULL    9.750    356        P           SFR                  1   N
 51.75   A2/6          $192,241.85   47.28   STD     9.990    357        P           SFR                  1   N
 56.25   A3/6          $103,310.95   25.07   FULL    8.510    357        P           SFR                  1   N
 65.00   F30           $227,337.01   41.90   STD    11.000    358        P           PUD                  1   N
 75.00   A2/6          $280,999.60   49.69   LIM     9.990    358        P           SFR                  1   N
 79.82   A3/6          $260,760.10   49.28   FULL    9.840    358        P           SFR                  1   N
 70.00   A3/6          $248,295.13   50.47   FULL   10.350    358        P           2F                   1   N
 63.33   A2/6          $218,239.72   53.95   STD     8.600    358        P           SFR                  1   N
 80.00   A2/6          $127,796.29   46.11   FULL    9.600    358        P           SFR                  1   N
 85.00   A2/6          $124,858.51   33.97   FULL   10.900    358        P           SFR                  1   N
 80.00   A2/6 B30/40   $379,779.98   38.03   FULL    7.975    358        P           SFR                  1   N
 69.91   A2/6 B30/40   $ 78,975.29   43.22   FULL   10.050    358        P           SFR                  1   N
 75.00   A2/6          $134,865.26   47.55   FULL    9.450    358        P           SFR                  1   N
 56.52   F20           $ 64,816.66   22.20   FULL    9.500    238        P           SFR                  1   N
 75.00   A2/6          $198,118.95   40.82   STD    10.650    352        P           2F                   1   N
 40.00   A2/6          $ 49,824.21   30.14   FULL    8.750    354        P           CO                   1   N
 70.00   A2/6 B30/40   $234,285.04   49.63   STD     8.800    356        P           SFR                  1   N
 51.15   A2/6          $ 66,397.92   39.37   FULL    9.350    357        P           SFR                  1   N
 42.37   A2/6          $224,624.63   44.58   STD     8.950    357        P           SFR                  1   N
 70.00   A3/6          $174,525.59   54.33   FULL    8.000    356        P           SFR                  1   N
 75.00   A2/6          $ 69,634.86   48.21   FULL    9.000    357        P           TH                   1   N
 60.13   F30           $111,696.01   50.24   FULL    9.990    357        P           SFR                  1   N
 71.05   A2/6 B30/40   $269,914.26   24.16   FULL   10.000    358        P           PUD                  1   N
 84.21   A3/6 B30/40   $239,923.54   44.64   STD     9.990    358        P           CO                   1   N
 66.16   A2/6          $302,289.14   45.73   STD     9.800    355        P           SFR                  1   N
 44.00   F30           $ 65,885.26   28.86   FULL    8.750    357        P           SFR                  1   N
 25.00   A2/6          $324,340.09   44.56   STD     7.990    357        P           SFR                  1   N
 74.99   A3/6          $208,729.21   24.95   FULL    9.450    356        P           SFR                  1   N
 51.67   A3/6          $154,783.14   21.54   FULL    9.790    357        P           SFR                  1   N
 80.00   F30           $175,841.92   52.04   FULL   11.840    357        P           SFR                  1   Y
 69.44   A3/6          $124,753.72   39.25   FULL    9.550    356        P           CO                   1   N
 80.00   A2/6          $123,931.56   41.48   FULL    8.950    359        P           SFR                  1   N
 74.85   A2/6 B30/40   $121,980.64   42.48   FULL    9.990    359        P           SFR                  1   N
 60.00   A2/6 B30/40   $272,894.52   42.08   FULL    9.350    358        P           SFR                  1   N
 63.19   F30           $ 85,157.70   33.19   FULL    8.950    357        P           SFR                  1   N
 85.00   A2/6          $116,285.67   49.11   FULL    9.750    357        P           SFR                  1   N
 80.00   A3/6          $190,315.75   12.22   FULL    9.999    359        P           SFR                  1   N
 63.56   A2/6 B30/40   $320,585.40   46.89   FULL    7.625    356        P           SFR                  1   N
 55.56   A2/6          $ 99,734.33   45.80   FULL    8.100    356        P           SFR                  1   N
 80.00   A3/6          $139,872.94   48.73   FULL    9.900    358        P           CO                   1   N
 80.00   A2/6          $108,661.94   45.03   FULL   10.250    357        P           SFR                  1   N
 75.00   A3/6          $191,072.71   43.69   STD     9.800    358        P           SFR                  1   N
 62.75   A2/6 B30/40   $127,979.44   42.78   FULL    9.950    359        P           SFR                  1   N
 80.00   A2/6 B30/40   $147,976.59   49.19   FULL   10.000    359        P           SFR                  1   N
 80.00   A2/6 B30/40   $ 83,967.04   43.73   FULL   10.650    357        P           2F                   1   Y
 75.00   A2/6          $232,220.39   40.66   STD    10.500    357        P           PUD                  1   N
 80.00   A3/6          $171,478.96   49.19   FULL    9.470    354        P           SFR                  1   N
 58.82   F30           $ 49,883.62   26.09   FULL    8.750    356        P           SFR                  1   N
 64.89   A2/6          $176,301.03   45.97   FULL   10.800    357        P           SFR                  1   N
 62.82   A3/6          $222,624.11   51.01   FULL    8.900    357        P           SFR                  1   N
 80.00   A2/6          $106,277.12   54.80   FULL    8.750    358        P           TH                   1   N
 70.00   B15/30        $122,125.54   42.25   FULL    7.400    176        P           SFR                  1   N
 80.00   F30           $ 58,308.45   43.79   FULL    9.250    357        P           SFR                  1   N
 80.00   A2/6          $133,029.42   26.64   FULL    9.825    351        P           SFR                  1   N
 70.00   A2/6 B30/40   $132,932.34   32.91   STD    10.755    356        P           SFR                  1   N
 43.24   A2/6          $159,753.15   48.88   FULL   10.700    356        P           CO                   1   N
 70.00   A2/6          $118,705.54   52.48   FULL    8.450    356        P           2F                   1   N
 61.92   A3/6          $186,565.88   17.30   STD     9.850    355        P           SFR                  1   N
 75.00   A3/6          $119,873.52   42.85   STD     9.190    358        P           SFR                  1   N
 85.00   A2/6          $ 97,679.94   37.79   FULL   10.999    358        P           SFR                  1   N
 85.00   A3/6          $227,457.35   52.29   FULL    9.490    358        P           PUD                  1   N
 80.00   A2/6 B30/40   $199,857.62   49.55   STD     9.650    356        P           SFR                  1   N
 85.00   A3/6          $135,868.48   49.90   FULL    9.600    358        P           SFR                  1   N
 74.84   F30           $231,688.87   52.10   FULL    9.990    357        P           SFR                  1   N
 70.00   A3/6          $101,313.83   53.80   FULL    8.490    357        P           SFR                  1   N
 16.97   F30           $ 26,276.15   31.07   FULL   11.800    357        P           SFR                  1   N
 54.39   A2/6 B30/40   $154,932.53   53.53   FULL    8.950    358        P           SFR                  1   N
 80.00   A2/6          $ 91,898.38   36.30   FULL    8.965    358        P           SFR                  1   N
 82.61   A2/6          $ 75,924.94   45.85   FULL    9.500    358        P           SFR                  1   N
 74.55   A2/6 B30/40   $204,777.04    6.50   LIM     8.990    355        P           SFR                  1   N
 78.96   A2/6          $303,094.25   53.29   FULL    8.650    355        P           PUD                  1   N
 75.00   A3/6          $ 74,892.71   29.63   FULL   11.050    356        P           SFR                  1   Y
 77.27   A2/6 B30/40   $169,908.25   46.61   STD     9.600    357        P           2F                   1   N
 67.00   A2/6          $167,268.60   58.51   STD     9.850    357        P           SFR                  1   N
 75.00   A2/6          $422,975.28   44.82   STD     9.905    356        P           SFR                  1   N
 85.00   A2/6          $275,844.70   50.45   FULL    9.565    357        P           SFR                  1   N
 61.08   A2/6          $243,861.93   45.30   FULL    8.600    357        P           SFR                  1   N
 80.00   A3/6          $ 63,520.84   54.23   FULL   10.340    357        P           SFR                  1   Y
 54.90   A2/6          $139,875.34   39.48   FULL    9.990    358        P           2F                   1   N
 85.00   A2/6          $ 83,234.56   35.61   FULL   10.575    358        P           SFR                  1   N
 90.00   IOA2/6        $216,000.00   24.25   FULL    7.500    359        P           SFR                  1   N
 80.00   A2/6          $250,990.67   46.09   STD    10.300    358        P           SFR                  1   N
 75.00   A2/6 B30/40   $128,933.42   46.09   FULL    9.750    357        P           2F                   1   N
 60.00   A2/6 B30/40   $ 86,962.68   31.10   STD     8.999    358        P           SFR                  1   N
 85.00   F30           $ 53,476.38   45.04   FULL    9.875    357        P           SFR                  1   N
 70.00   A2/6          $313,005.68   42.97   STD     8.440    350        P           SFR                  1   N
 52.26   A2/6          $149,717.45   55.38   FULL    8.360    357        P           SFR                  1   N
 80.00   A3/6          $215,694.56   51.97   FULL    9.740    357        P           SFR                  1   N
 75.00   A2/6          $134,771.27   52.04   FULL    8.875    357        P           SFR                  1   N
 79.19   A2/6          $390,278.98   49.35   STD     7.650    354        P           SFR                  1   N
 80.00   A2/6          $ 75,148.69   22.45   FULL   11.225    358        P           SFR                  1   N
 48.94   A2/6          $114,884.61   22.22   FULL    9.425    358        P           SFR                  1   N
 79.88   A2/6          $ 65,479.63   43.19   FULL   11.625    359        P           SFR                  1   N
 44.00   A2/6          $ 50,127.23   26.66   STD    11.425    358        P           SFR                  1   N
 73.96   F30           $ 70,919.94   40.15   STD    10.799    357        P           SFR                  1   N
 80.00   F30           $ 35,990.84   37.15   FULL   12.530    359        P           SFR                  1   N
 80.00   A3/6 B30/40   $211,985.09   48.38   STD    10.990    357        P           PUD                  1   N
 85.00   A3/6          $122,341.05   48.53   FULL    9.600    359        P           SFR                  1   N
 80.00   F30           $111,877.15    3.33   LIM     8.999    358        P           PUD                  1   N
 80.00   A2/6 B30/40   $131,938.25   44.76   STD    10.250    357        P           SFR                  1   N
 40.96   A2/6          $169,661.54   49.84   FULL    9.500    356        I           CO                   1   N
 85.00   A2/6          $ 64,501.40   45.66   FULL   10.750    356        I           SFR                  1   N
 65.00   A2/6          $288,798.89   50.67   STD    10.650    356        P           SFR                  1   N
 80.00   F30           $165,436.46   45.72   FULL    9.500    358        P           SFR                  1   N
 63.00   A2/6          $267,443.96   31.35   FULL    8.800    358        P           SFR                  1   N
 69.33   F30           $259,687.29   48.29   STD    10.500    357        P           SFR                  1   N
 85.00   B30/40        $186,940.42   41.65   FULL    9.990    358        P           CO                   1   N
 80.00   A2/6          $231,782.64   44.93   STD     9.750    358        P           SFR                  1   N
 80.00   F30           $ 49,899.97   26.53   FULL   10.550    355        P           SFR                  1   Y
 80.00   A2/6          $135,603.04   26.00   FULL    8.750    355        P           SFR                  1   N
 48.39   A2/6          $299,479.02   31.92   FULL    9.250    357        P           SFR                  1   N
 58.24   F30           $ 98,767.24   45.49   FULL    8.700    356        P           SFR                  1   N
 80.00   A3/6          $ 72,700.48   56.38   FULL    9.900    357        P           SFR                  1   Y
 80.00   F30           $ 74,723.54   43.40   FULL   11.250    357        P           SFR                  1   N
 80.00   A2/6          $ 66,307.29   43.77   FULL    9.800    357        P           SFR                  1   N
 70.77   A2/6          $183,917.73   26.67   FULL    9.950    359        P           SFR                  1   N
 69.88   A2/6 B30/40   $254,943.37   42.91   FULL    8.450    358        P           SFR                  1   N
 85.00   A2/6 B30/40   $286,312.56   41.99   STD     9.990    357        P           SFR                  1   N
 80.00   A3/6 B30/40   $131,948.21   31.44   LIM    10.650    357        P           SFR                  1   N
 54.50   A2/6          $108,967.76   24.29   FULL   11.850    359        P           SFR                  1   N
 75.00   A2/6          $392,950.51   55.60   FULL    7.990    357        P           2F                   1   N
 71.85   A3/6          $244,667.91   49.93   FULL    9.940    357        P           TH                   1   N
 66.00   A2/6          $265,155.13   44.47   FULL   11.650    358        P           PUD                  1   N
 64.52   A2/6          $ 99,868.29   52.67   STD    10.075    357        P           SFR                  1   N
 75.00   A2/6          $408,339.88   48.59   FULL    9.425    358        P           SFR                  1   N
 40.00   A2/6          $191,676.34   25.69   FULL    8.900    357        P           SFR                  1   N
 80.00   A3/6 B30/40   $ 99,963.05   49.52   FULL    9.500    358        P           SFR                  1   N
 70.00   A2/6          $146,941.58   44.29   STD    10.500    359        P           SFR                  1   N
 70.00   A2/6          $243,994.54   35.55   STD     8.765    353        P           SFR                  1   N
 80.00   F30           $103,365.72   48.00   FULL    9.975    355        I           PUD                  1   N
 60.44   A2/6          $274,568.99   46.67   FULL    9.250    357        P           SFR                  1   N
 65.00   A3/6          $201,140.52   47.03   STD     8.625    357        P           SFR                  1   N
 82.00   A3/6          $188,281.28   42.23   FULL   10.275    356        P           SFR                  1   N
 67.65   A3/6          $164,809.44   27.09   FULL    8.750    358        P           SFR                  1   N
 64.29   A2/6 B30/40   $449,784.42   55.00   FULL    8.625    358        P           SFR                  1   N
 69.75   A2/6 B30/40   $192,455.73   50.67   STD    11.050    358        I           SFR                  1   N
 60.00   A2/6 B30/40   $164,966.21   51.17   FULL   11.425    358        P           SFR                  1   N
 75.00   A2/6 B30/40   $153,679.20   42.34   STD    10.125    357        P           SFR                  1   N
 85.00   F30           $ 78,137.56   35.94   FULL   10.499    358        P           SFR                  1   N
 85.00   A2/6 B30/40   $ 67,956.42   24.25   FULL    9.999    356        P           SFR                  1   N
 85.00   A3/6 B30/40   $144,258.03   35.83   FULL    7.500    355        P           SFR                  1   N
 69.88   A2/6 B30/40   $289,525.83   44.31   FULL    8.750    356        P           SFR                  1   N
 80.00   F30           $ 57,748.84   30.64   FULL   10.600    356        P           SFR                  1   Y
 61.82   A2/6          $169,592.09   43.23   FULL    8.600    356        P           4F                   1   N
 80.00   A2/6          $ 61,503.66   35.96   FULL   10.640    356        P           SFR                  1   Y
 85.00   A3/6          $212,279.90   49.29   FULL   11.190    357        P           SFR                  1   N
 79.99   A3/6          $ 95,876.23   50.50   STD    10.650    357        P           SFR                  1   N
 90.00   A3/6          $ 89,912.97   44.07   FULL    9.600    358        P           SFR                  1   N
 80.00   A2/6          $ 50,757.21   30.53   FULL   10.250    358        P           2F                   1   N
 85.00   A3/6          $127,394.66   45.77   FULL   10.340    358        P           SFR                  1   N
 42.40   A3/6 B30/40   $105,960.73   34.90   FULL    9.490    358        P           SFR                  1   N
 64.40   A3/6 B30/40   $122,905.26   34.75   FULL    8.400    357        P           SFR                  1   N
 52.08   A2/6 B30/40   $137,958.12   45.09   STD    10.150    358        P           SFR                  1   N
 80.00   A2/6          $119,850.97   45.07   FULL   10.350    357        P           SFR                  1   N
 80.00   F30           $ 75,874.50   17.97   FULL    8.999    357        P           SFR                  1   N
 45.59   A2/6 B30/40   $154,900.04   44.53   STD     7.600    358        P           SFR                  1   N
 75.00   A2/6 B30/40   $337,338.30   29.05   LIM     8.625    358        P           SFR                  1   N
 85.00   A2/6          $ 67,663.35   37.83   FULL    9.750    350        P           SFR                  1   N
 84.66   F30           $159,415.94   44.69   FULL    8.650    355        P           SFR                  1   N
 18.18   A2/6          $199,548.82   32.28   STD     8.900    356        P           4F                   1   N
 80.00   A3/6          $171,738.74   48.02   FULL    9.400    357        P           SFR                  1   N
 69.31   A3/6          $ 69,909.27   30.23   FULL   10.150    357        I           SFR                  1   N
 85.00   F30           $118,831.73   36.27   FULL    9.740    357        P           SFR                  1   N
 82.67   A3/6          $247,568.81   41.31   FULL    8.750    357        P           SFR                  1   N
 84.66   A3/6          $ 88,797.22   53.10   FULL    9.340    358        P           SFR                  1   N
 51.61   A3/6          $239,757.94   53.83   FULL    9.400    358        P           TH                   1   N
 70.00   A3/6          $363,566.91   43.65   STD    10.550    357        P           SFR                  1   N
 18.33   A2/6          $ 44,731.64   47.11   FULL    7.600    355        P           SFR                  1   N
 85.00   A2/6          $138,153.47   29.39   STD     8.850    355        P           SFR                  1   Y
 46.55   A3/6 B30/40   $134,934.85   32.01   FULL    8.600    358        P           SFR                  1   N
 85.00   A3/6          $113,730.57   46.48   FULL    9.500    357        P           SFR                  1   N
 85.00   A3/6 B30/40   $121,497.08   46.05   FULL    8.950    358        P           SFR                  1   N
 70.80   A2/6          $ 79,676.28   19.42   FULL    9.500    352        P           SFR                  1   N
 80.00   A2/6          $ 95,845.06   42.77   STD    10.490    356        P           CO                   1   N
 80.00   A3/6          $375,346.29   37.60   STD     8.750    357        P           SFR                  1   N
 85.00   A2/6          $118,881.22   42.22   FULL    9.450    358        P           SFR                  1   N
 67.87   A2/6          $112,874.53   45.66   LIM     8.940    358        P           SFR                  1   N
 79.99   A3/6          $ 82,472.66   41.92   STD     9.750    358        P           SFR                  1   Y
 62.50   A2/6          $ 74,903.03   35.81   FULL    8.200    358        P           SFR                  1   N
 68.03   A2/6          $299,574.44   49.97   STD     9.725    357        P           2F                   1   N
 74.57   F30           $130,270.70   38.43   FULL    8.699    357        P           2F                   1   N
 69.44   A2/6          $124,862.65   24.89   FULL    8.990    358        P           SFR                  1   N
 69.77   A3/6          $149,579.46   42.81   FULL    9.840    355        P           SFR                  1   N
 80.00   A3/6          $ 87,781.26   48.53   FULL    9.525    355        P           SFR                  1   N
 73.67   A3/6          $220,453.21   53.29   FULL    8.450    356        P           SFR                  1   N
 64.44   A2/6          $144,870.05   38.92   STD    11.850    357        P           CO                   1   N
 75.00   A3/6          $189,486.19   47.34   STD     9.820    357        P           SFR                  1   N
 65.00   A2/6          $123,334.37   43.31   FULL    9.990    357        P           SFR                  1   N
 75.00   A2/6          $295,830.47   39.45   STD     7.750    358        P           SFR                  1   N
 79.79   A3/6          $149,866.02   39.64   FULL    9.975    358        P           SFR                  1   N
 80.00   A3/6          $190,229.02   48.31   FULL    9.950    358        P           TH                   1   N
 61.08   A2/6          $112,888.38   42.84   FULL    9.500    358        I           2F                   1   N
 90.00   F30           $160,533.63   41.82   FULL   10.950    358        P           SFR                  1   N
 70.13   A2/6 B30/40   $269,886.57   42.75   FULL    6.650    359        P           SFR                  1   N
 80.00   A3/6 B30/40   $198,111.19   38.59   STD     7.990    355        P           SFR                  1   Y
 70.00   A2/6          $174,934.12   38.76   FULL   10.750    359        P           SFR                  1   N
 75.00   A2/6          $269,304.19   33.24   FULL    8.250    356        P           CO                   1   N
 85.00   A3/6          $ 92,526.01   39.80   FULL   10.000    357        P           SFR                  1   N
 85.00   A3/6          $117,158.64   46.14   FULL   10.490    357        P           TH                   1   N
 54.67   A3/6          $ 81,816.56   25.60   FULL    8.850    356        P           CO                   1   N
 80.00   A3/6          $123,083.11   39.08   FULL    9.690    358        P           SFR                  1   N
 85.00   A3/6          $140,125.12   44.75   LIM     9.990    358        P           SFR                  1   Y
 75.00   A5/6          $ 78,667.16   48.14   STD     9.200    358        P           SFR                  1   N
 75.00   A2/6          $112,393.46   13.15   STD     9.700    358        P           SFR                  1   N
 65.00   A2/6 B30/40   $279,346.85   30.40   STD     9.550    357        P           SFR                  1   N
 61.64   A2/6          $ 71,441.69   36.70   FULL   10.400    358        P           SFR                  1   N
 36.50   B30/40        $145,963.85   43.94   STD     8.500    359        P           PUD                  1   N
 85.00   A3/6          $ 50,906.16   32.88   FULL    9.875    356        P           SFR                  1   N
 64.12   A2/6          $271,729.66   51.63   FULL    9.800    354        P           SFR                  1   N
 85.00   A2/6          $ 80,604.23   37.85   FULL    9.600    356        P           SFR                  1   Y
 70.00   A2/6          $188,743.82   48.54   FULL    9.940    357        P           SFR                  1   N
 84.97   F30           $121,319.28   33.18   FULL    9.500    357        P           SFR                  1   N
 43.01   A3/6          $199,645.04   47.45   FULL    8.650    357        P           SFR                  1   N
 75.00   A2/6          $185,812.39   56.53   STD     9.400    358        P           2F                   1   N
 85.00   A3/6          $151,153.68   44.07   FULL    9.600    358        P           SFR                  1   N
 85.00   A2/6 B30/40   $356,846.44   39.90   STD     8.990    358        P           SFR                  1   N
 77.00   A2/6          $172,817.11   46.78   LIM     9.500    355        P           SFR                  1   N
 48.39   A2/6          $224,799.66   35.12   STD     9.990    358        P           PUD                  1   N
 85.00   A2/6          $146,060.08   40.19   FULL    9.650    358        P           SFR                  1   N
 80.00   A3/6 B30/40   $227,852.35   37.01   FULL    8.990    357        P           SFR                  1   N
 80.00   F30           $507,846.37   49.83   STD    11.750    359        P           SFR                  1   N
 65.00   A2/6          $141,510.37   53.01   FULL   10.000    357        P           SFR                  1   N
 69.75   A3/6          $131,635.91   47.92   FULL    9.500    357        P           SFR                  1   N
 85.00   A3/6          $263,306.02   46.47   FULL   10.875    358        P           TH                   1   N
 81.94   A3/6          $117,884.99   39.17   FULL    9.563    358        P           SFR                  1   N
 80.00   A2/6 B30/40   $165,468.66   20.72   FULL    8.300    357        P           SFR                  1   N
 85.00   A3/6 B30/40   $196,282.73   42.60   FULL    9.750    358        P           SFR                  1   N
 85.00   A2/6 B30/40   $311,713.19   38.98   FULL    8.990    359        P           SFR                  1   N
 70.00   A3/6          $ 99,320.63   34.66   STD    10.500    358        P           SFR                  1   N
 69.44   A3/6          $249,399.74   31.49   STD     9.690    355        P           SFR                  1   N
 66.33   A2/6 B30/40   $399,359.04   48.05   STD     9.900    355        P           SFR                  1   N
 85.00   B30/40        $197,029.08   45.49   STD     8.990    356        P           SFR                  1   N
 65.00   A2/6          $107,093.22   21.72   STD    10.950    356        P           2F                   1   N
 70.00   A2/6          $192,204.54   48.26   STD     9.350    357        P           SFR                  1   N
 75.00   A2/6 B30/40   $419,620.61   41.81   STD     7.850    357        P           2F                   1   N
 85.00   A3/6          $129,072.13   42.94   FULL    9.490    358        P           SFR                  1   N
 85.00   A3/6          $ 72,124.39   41.38   FULL    8.750    357        P           SFR                  1   N
 70.00   A2/6          $377,493.06   32.67   STD     9.990    357        P           SFR                  1   N
 70.00   A2/6          $192,299.64   54.23   FULL    9.250    358        P           SFR                  1   N
 80.00   A2/6 B30/40   $198,376.20   46.25   STD    10.900    359        P           SFR                  1   N
 80.00   F30           $123,842.10   42.62   FULL    8.275    358        P           SFR                  1   N
 85.00   A3/6          $128,964.87   49.81   FULL   10.990    355        P           SFR                  1   N
 73.47   B30/40        $179,935.96   40.91   STD     9.625    358        P           PUD                  1   N
 80.00   A3/6 B30/40   $187,091.88   38.83   STD     9.375    357        P           SFR                  1   N
 61.33   F15           $ 45,772.97   23.06   FULL    9.799    178        P           SFR                  1   N
 67.58   A3/6          $172,571.98   44.40   FULL    8.450    356        P           SFR                  1   N
 85.00   A3/6          $381,695.93   50.10   FULL    9.240    356        P           SFR                  1   N
 88.70   F30           $146,107.88   44.37   FULL    8.990    357        P           PUD                  1   N
 80.00   F30           $ 67,936.28   26.57   FULL    9.750    358        P           SFR                  1   N
 67.14   F30           $236,731.91   45.86   STD     8.850    358        P           SFR                  1   N
 69.49   A2/6          $204,774.74   35.01   STD     8.990    358        P           SFR                  1   N
 80.00   A2/6 B30/40   $263,903.66   36.42   STD     9.540    358        P           SFR                  1   N
 80.00   A3/6 B30/40   $319,567.90   49.94   FULL    8.250    355        P           SFR                  1   N
 85.00   A2/6          $ 72,588.98   24.01   FULL   10.575    357        P           SFR                  1   N
 70.00   A2/6          $ 59,452.50   48.09   FULL   10.500    358        I           SFR                  1   N
 80.00   A2/6 B30/40   $335,882.79   46.21   FULL    9.690    358        P           PUD                  1   N
 80.00   A2/6          $ 76,667.82   33.30   FULL    8.800    357        P           SFR                  1   N
 33.91   A3/6          $116,861.34   37.15   STD     8.625    358        P           SFR                  1   N
 79.81   F30           $ 84,902.00   37.00   FULL    8.759    358        P           SFR                  1   N
 70.00   A2/6          $132,887.97   44.27   STD    10.250    358        P           SFR                  1   N
 66.72   F30           $116,929.10   45.82   LIM     8.499    359        P           SFR                  1   N
 80.00   A2/6          $307,689.34   32.16   LIM     9.400    358        P           PUD                  1   N
 64.32   F30           $282,469.91   38.97   STD     9.790    356        P           SFR                  1   N
 64.33   A2/6          $311,324.37   34.21   STD    11.050    354        P           SFR                  1   N
 63.75   A3/6          $159,091.57   41.09   STD     8.640    357        P           SFR                  1   N
 77.78   F30           $118,823.00   23.21   FULL    9.500    357        P           SFR                  1   N
 75.00   A2/6          $149,828.55   48.04   STD     8.800    358        P           SFR                  1   N
 84.99   A3/6          $155,680.88   45.98   FULL   10.700    358        P           SFR                  1   Y
 66.84   A2/6          $326,854.63   49.38   STD     9.300    357        P           SFR                  1   N
 80.00   A2/6          $219,798.20   34.06   STD     9.850    358        P           SFR                  1   N
 40.27   A2/6 B30/40   $119,929.01   28.93   FULL    7.900    358        P           SFR                  1   N
 70.00   A2/6 B30/40   $128,061.72   42.50   FULL   10.200    358        P           SFR                  1   N
 80.00   F30           $127,927.11   32.86   FULL    8.800    359        P           SFR                  1   N
 80.00   F30           $103,100.18   39.46   FULL    9.600    358        P           SFR                  1   N
 85.00   A2/6          $148,388.43   35.79   STD    11.250    353        P           PUD                  1   Y
 70.00   A2/6          $185,124.12   40.37   FULL    8.000    357        P           PUD                  1   N
 78.87   A2/6          $111,872.36   49.89   STD    10.750    357        P           SFR                  1   N
 80.00   A2/6          $239,692.87   41.43   STD     8.250    358        P           SFR                  1   N
 95.00   B30/40        $163,366.28   50.38   FULL   11.400    358        P           SFR                  1   Y
 80.00   F30           $103,892.31   13.29   FULL    9.275    358        P           SFR                  1   N
 64.93   A2/6 B30/40   $136,932.91   40.31   STD     8.550    358        P           SFR                  1   N
 65.57   A2/6          $199,771.40   49.42   STD     8.800    358        P           SFR                  1   N
 75.00   A2/6          $172,405.58   33.51   FULL    8.990    359        P           SFR                  1   N
 65.00   A3/6          $126,212.97   51.19   FULL    8.300    354        P           SFR                  1   N
 41.21   A3/6          $135,739.83   53.87   FULL    9.690    356        P           SFR                  1   N
 69.47   A2/6 B30/40   $197,796.64   37.33   FULL    7.400    357        P           SFR                  1   N
 75.00   A2/6 B30/40   $258,441.81   50.70   FULL    7.900    356        P           SFR                  1   N
 85.00   F30           $ 75,575.28   51.47   FULL    9.500    358        P           SFR                  1   N
 70.00   A3/6          $293,700.34   49.91   STD     9.350    358        P           SFR                  1   N
 70.00   A2/6 B30/40   $216,954.54   30.41   FULL   11.350    358        P           SFR                  1   N
 56.82   A2/6 B30/40   $124,980.75   24.02   STD    10.088    359        P           SFR                  1   N
 85.00   A2/6          $114,710.83   28.95   FULL   11.200    359        P           SFR                  1   N
 75.00   F30           $ 55,982.61   37.19   FULL   10.750    358        P           SFR                  1   N
 80.00   A2/6          $175,912.51   35.56   FULL    9.450    359        P           SFR                  1   N
 72.85   A2/6 B30/40   $219,726.46   47.79   FULL    7.750    356        P           SFR                  1   N
 75.00   A3/6          $113,734.59   49.44   FULL    8.750    356        P           SFR                  1   N
 60.00   A2/6          $299,265.28   44.32   STD     8.500    356        P           4F                   1   N
 68.35   A3/6          $161,748.73   53.03   FULL    9.300    357        P           SFR                  1   N
 70.00   A3/6          $168,994.13   49.95   STD     9.700    355        P           SFR                  1   N
 78.95   A3/6          $119,855.37   53.80   FULL   10.490    357        P           SFR                  1   N
 80.00   A3/6          $114,202.12   20.34   FULL    8.775    357        P           SFR                  1   N
 75.00   A2/6          $256,246.14   40.60   STD     9.490    358        P           SFR                  1   N
 53.54   A2/6          $324,561.52   37.01   STD     7.990    358        P           SFR                  1   N
 54.82   A3/6          $127,779.74   44.13   STD     8.800    357        P           SFR                  1   N
 75.00   A2/6          $256,410.07   41.92   STD    10.850    358        P           SFR                  1   N
 35.87   A2/6          $134,380.25   32.82   FULL    9.990    358        P           SFR                  1   N
 75.00   A2/6          $129,605.99   46.72   FULL    9.125    359        P           PUD                  1   N
 72.05   F30           $ 49,937.25   25.12   FULL    9.850    358        P           SFR                  1   N
 79.49   A2/6          $ 49,926.87   54.92   STD    10.825    352        P           SFR                  1   N
 75.00   F30           $131,794.16   42.80   FULL   10.650    356        P           PUD                  1   N
 70.21   A2/6          $234,260.98   33.11   FULL    9.350    358        P           SFR                  1   N
 65.00   A2/6          $194,764.85   42.05   STD     8.540    358        P           SFR                  1   N
 85.00   A2/6          $ 70,497.39   54.25   FULL   10.815    358        P           SFR                  1   N
 80.00   A2/6          $194,321.91   43.29   STD    10.450    359        P           SFR                  1   N
 67.90   A2/6 B30/40   $293,823.54   47.01   FULL    7.850    358        P           SFR                  1   N
 75.00   A2/6 B30/40   $123,725.82   54.31   FULL    9.300    359        P           SFR                  1   N
 78.37   A3/6 B30/40   $206,867.18   43.54   STD     9.990    359        P           SFR                  1   N
 66.53   A2/6          $ 82,379.82   17.90   FULL    9.600    357        P           SFR                  1   N
 81.03   A3/6          $164,312.13   41.66   FULL   10.740    357        P           SFR                  1   N
 77.45   A2/6          $142,292.01   44.32   FULL    9.590    357        P           SFR                  1   N
 43.85   A3/6          $ 85,358.12   46.71   FULL    8.975    357        P           CO                   1   N
 55.82   A2/6 B30/40   $306,820.96   42.62   STD     7.950    358        P           SFR                  1   N
 75.00   A3/6 B30/40   $374,806.68   43.92   FULL    8.375    358        P           SFR                  1   N
 79.23   A2/6          $102,864.08   35.24   FULL    8.100    358        P           SFR                  1   N
 80.00   F30           $171,843.07   37.59   FULL    9.875    358        P           CO                   1   N
 80.00   A2/6 B30/40   $399,344.90   41.61   STD     9.050    353        P           2F                   1   N
 52.70   A2/6          $165,408.33   48.52   STD     7.390    356        P           SFR                  1   N
 72.41   F30           $ 97,513.04   50.60   FULL    8.550    356        P           SFR                  1   N
 67.84   A3/6          $142,941.52   42.42   STD     9.600    357        P           SFR                  1   N
 70.00   A2/6          $153,789.50   48.32   STD     9.900    357        P           SFR                  1   N
 75.00   A2/6          $211,903.20   38.81   FULL    9.050    357        P           SFR                  1   N
 71.88   A2/6          $229,691.54   38.68   STD     9.990    357        P           SFR                  1   N
 80.00   A3/6          $ 99,098.89   49.08   FULL    9.350    358        P           SFR                  1   N
 85.00   A3/6          $ 94,264.19   36.89   FULL    9.890    358        P           SFR                  1   N
 85.00   A2/6          $190,793.43   40.95   FULL    8.625    356        P           SFR                  1   N


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
nonresearch personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



10. LIST OF LOANS WITH BALANCE EQUAL TO OR GREATER THAN $600K

list of the loans with CLTV, Product Type, Balance, FICO, Geog, Purpose, DTI,
Doc Type, Coup Rate, Remaining Term, Occupancy, Property Type, Lien status,
Silent Second, MI





CLTV     PRODUCT       BALANCE         FICO   CITY                  STATE   ZIP     PURPOSE
------   -----------   -------------   ----   -------------------   -----   -----   -------

 80.00   A2/6 B30/40   $  607,290.39    708   Diamond Bar           CA-S    91765   P
 80.00   IOA2/6        $  608,000.00    657   Honolulu              HI      96825   CO
 84.14   IOA2/6        $  610,000.00    629   White Plains          NY      10606   CO
 80.00   IOA2/6        $  611,904.69    760   La Palma              CA-S    90623   P
 84.73   A2/6          $  614,798.92    614   San Jose              CA-N    95121   RT
 80.00   A2/6          $  615,292.26    657   Placida               FL      33946   CO
 90.00   IOA2/6        $  616,500.00    718   Pasadena              CA-S    91107   P
 80.00   IOA2/6        $  616,920.00    624   San Diego             CA-S    92103   P
 90.00   IOA2/6        $  620,100.00    606   Ridgewood             NY      11385   P
 80.00   IOA3/6        $  620,450.00    629   San Jose              CA-N    95136   P
 90.00   A2/6          $  628,846.92    691   Honolulu              HI      96825   CO
 80.00   A2/6          $  630,529.54    605   Fullerton             CA-S    92832   P
 74.47   A2/6 B30/40   $  632,297.93    501   Lake Hughes           CA-S    93532   CO
 80.00   A2/6          $  638,432.58    613   La Habra Heights      CA-S    90631   P
 90.00   IOA2/6        $  639,000.00    602   Gilbert               AZ      85296   CO
100.00   A2/6 B30/40   $  639,285.31    701   Roseville             CA-N    95747   P
 95.00   IOA2/6        $  643,473.00    737   Jamaica               NY      11412   P
 90.00   A2/6 B30/40   $  647,071.35    657   San Jose              CA-N    95139   CO
 77.60   A2/6 B30/40   $  647,689.55    552   Los Angeles           CA-S    90019   CO
 68.42   A3/6 B30/40   $  649,621.92    608   Weston                FL      33327   P
 80.00   A2/6          $  650,553.75    761   Los Angeles           CA-S    90028   P
 80.00   F30           $  650,759.48    782   Bronx                 NY      10465   P
 80.00   IOA2/6        $  656,000.00    700   Las Vegas             NV      89117   P
 80.00   A2/6 B30/40   $  659,592.29    603   Santa Barbara         CA-S    93103   CO
 77.33   IOA3/6        $  665,000.00    580   Upper Marlboro        MD      20772   CO
 80.00   A2/6 B30/40   $  667,677.62    573   Concord               CA-N    94521   CO
 80.00   A2/6 B30/40   $  671,089.85    621   Boyds                 MD      20841   CO
 80.00   A2/6 B30/40   $  675,594.78    732   Rancho Cucamonga      CA-S    91739   P
 52.35   A2/6 B30/40   $  679,909.60    593   Los Angeles           CA-S    90035   CO
 80.00   IOA2/6        $  680,000.00    687   Los Angeles           CA-S    91406   P
 84.47   IOA2/6        $  680,000.00    656   Sherman Oaks          CA-S    91403   CO
 80.00   A2/6          $  690,510.44    675   Daly City             CA-N    94015   P
 80.00   A2/6 B30/40   $  699,609.11    694   Mission Viejo         CA-S    92692   P
 81.30   IOA3/6        $  700,000.00    678   Los Angeles           CA-S    90018   CO
 90.00   A2/6          $  700,739.49    618   Corona                CA-S    92880   CO
 80.00   A2/6 B30/40   $  707,254.20    657   Boca Raton            FL      33428   CO
 83.82   A2/6          $  716,516.88    598   Indio                 CA-S    92201   CO
 80.00   A2/6 B30/40   $  719,487.18    640   Pompano Beach         FL      33062   P
 85.00   A2/6          $  721,319.44    614   Brooklyn              NY      11210   P
 80.00   A2/6 B30/40   $  723,539.76    694   Los Angeles           CA-S    90010   CO
 80.00   A2/6 B30/40   $  739,592.98    646   Los Angeles           CA-S    90029   CO
 80.00   A2/6 B30/40   $  743,275.94    621   Los Angeles           CA-S    90027   CO
 80.00   A2/6 B30/40   $  743,439.32    638   San Jose              CA-N    95148   CO
 75.00   A2/6          $  748,285.92    686   Los Angeles           CA-S    90057   RT
 94.34   A2/6 B30/40   $  749,125.71    636   Westminster           CA-S    92683   CO
 78.95   A2/6 B30/40   $  749,405.93    650   Encino                CA-S    91436   CO
 75.00   A2/6 B30/40   $  749,516.37    575   Orlando               FL      32836   CO
 88.24   A2/6 B30/40   $  749,598.20    645   Kailua                HI      96734   CO
 80.00   A2/6 B30/40   $  771,329.88    744   Northridge            CA-S    91326   P
 90.00   A2/6          $  772,045.48    648   Long Beach            CA-S    90806   CO
 81.58   IOA2/6        $  774,996.06    688   Wailuki               HI      96793   P
 80.00   IOA2/6        $  780,000.00    776   Los Angeles/Tarzana   CA-S    91356   P
 90.00   A2/6 B30/40   $  782,683.63    612   Punta Gorda           FL      33950   CO
 78.70   A2/6 B30/40   $  849,621.74    620   San Francisco         CA-N    94107   P
 90.00   IOA2/6        $  855,000.00    671   Anaheim               CA-S    92807   CO
 90.00   A3/6 B30/40   $  988,299.27    695   Glendale              CA-S    91206   CO
 74.95   A2/6 B30/40   $  988,616.63    628   Park Ridge            NJ       7656   P
 70.77   IOA2/6        $1,000,000.00    635   Clearwater Beach      FL      33767   CO


                                                                                                                 SILENT
                                                                     REMAINING               PROPERTY   LIEN     SECOND
CLTV     PRODUCT       BALANCE         DTI BACK   DOCTYPE   RATE     TERM        OCCUPANCY   TYPE       STATUS   FLAG     MI
------   -----------   -------------   --------   -------   ------   ---------   ---------   --------   ------   ------   ---

 80.00   A2/6 B30/40   $  607,290.39      41.36   STD        8.750         355   P           SFR             1   Y
 80.00   IOA2/6        $  608,000.00      49.06   STD        7.500         357   P           SFR             1   Y
 84.14   IOA2/6        $  610,000.00      25.68   FULL       7.300         356   P           2F              1   N
 80.00   IOA2/6        $  611,904.69      37.07   STD        7.750         355   P           SFR             1   Y
 84.73   A2/6          $  614,798.92      49.80   STD        8.190         357   P           SFR             1   N
 80.00   A2/6          $  615,292.26      45.20   STD        8.775         358   S           CO              1   Y
 90.00   IOA2/6        $  616,500.00      52.72   FULL       6.450         358   P           SFR             1   N
 80.00   IOA2/6        $  616,920.00      47.80   STD        7.435         358   P           SFR             1   Y
 90.00   IOA2/6        $  620,100.00      43.76   STD       10.100         358   P           2F              1   N
 80.00   IOA3/6        $  620,450.00      47.27   STD        8.750         351   P           CO              1   Y
 90.00   A2/6          $  628,846.92      48.17   STD        8.500         357   P           PUD             1   N
 80.00   A2/6          $  630,529.54      49.19   STD        8.750         356   P           3F              1   N
 74.47   A2/6 B30/40   $  632,297.93      46.87   STD        9.550         354   P           SFR             1   N
 80.00   A2/6          $  638,432.58      44.25   STD        8.500         356   P           SFR             1   N
 90.00   IOA2/6        $  639,000.00      49.15   STD        9.300         353   P           SFR             1   N
100.00   A2/6 B30/40   $  639,285.31      42.38   FULL       8.900         355   P           SFR             1   N
 95.00   IOA2/6        $  643,473.00      43.25   FULL       8.675         358   P           2F              1   N
 90.00   A2/6 B30/40   $  647,071.35      36.82   FULL       7.250         356   P           SFR             1   N
 77.60   A2/6 B30/40   $  647,689.55      42.27   STD        8.625         358   P           2F              1   N
 68.42   A3/6 B30/40   $  649,621.92      38.34   STD        7.959         358   P           PUD             1   N
 80.00   A2/6          $  650,553.75      43.15   STD        7.550         357   P           SFR             1   Y
 80.00   F30           $  650,759.48      31.78   FULL       6.250         358   P           2F              1   N
 80.00   IOA2/6        $  656,000.00      49.58   STD        7.600         358   P           SFR             1   Y
 80.00   A2/6 B30/40   $  659,592.29      41.43   STD        7.750         358   P           SFR             1   N
 77.33   IOA3/6        $  665,000.00      34.69   FULL       7.540         357   P           SFR             1   N
 80.00   A2/6 B30/40   $  667,677.62      45.17   STD        8.600         358   P           PUD             1   N
 80.00   A2/6 B30/40   $  671,089.85      47.81   FULL       7.450         356   P           PUD             1   Y
 80.00   A2/6 B30/40   $  675,594.78      47.59   STD        9.250         357   P           SFR             1   Y
 52.35   A2/6 B30/40   $  679,909.60      18.75   FULL       7.990         357   I           2F              1   N
 80.00   IOA2/6        $  680,000.00      48.07   FULL       6.900         356   P           SFR             1   Y
 84.47   IOA2/6        $  680,000.00      47.54   STD        9.075         352   P           SFR             1   N
 80.00   A2/6          $  690,510.44      46.55   STD        7.700         357   P           SFR             1   N
 80.00   A2/6 B30/40   $  699,609.11      43.28   STD        8.100         358   P           PUD             1   Y
 81.30   IOA3/6        $  700,000.00      21.36   FULL       7.990         358   I           3F              1   N
 90.00   A2/6          $  700,739.49      29.72   STD        9.990         356   P           SFR             1   N
 80.00   A2/6 B30/40   $  707,254.20      28.51   STD        8.325         356   P           PUD             1   Y
 83.82   A2/6          $  716,516.88      44.92   LIM        9.090         354   P           SFR             1   N
 80.00   A2/6 B30/40   $  719,487.18      29.16   FULL       7.250         358   P           SFR             1   Y
 85.00   A2/6          $  721,319.44      40.51   STD        9.050         357   P           SFR             1   Y
 80.00   A2/6 B30/40   $  723,539.76      29.87   STD        7.650         358   P           CO              1   Y
 80.00   A2/6 B30/40   $  739,592.98      34.71   STD       10.500         356   I           2F              1   N
 80.00   A2/6 B30/40   $  743,275.94      54.35   FULL       6.125         358   P           SFR             1   Y
 80.00   A2/6 B30/40   $  743,439.32      36.62   STD        8.475         357   P           SFR             1   N
 75.00   A2/6          $  748,285.92      50.57   FULL       7.400         357   I           4F              1   N
 94.34   A2/6 B30/40   $  749,125.71      48.12   FULL       7.975         356   P           PUD             1   N
 78.95   A2/6 B30/40   $  749,405.93      56.48   STD        8.390         357   P           CO              1   N
 75.00   A2/6 B30/40   $  749,516.37      45.96   FULL       7.600         358   P           PUD             1   N
 88.24   A2/6 B30/40   $  749,598.20      49.37   STD        9.625         357   S           CO              1   N
 80.00   A2/6 B30/40   $  771,329.88      49.11   STD        9.350         358   P           PUD             1   Y
 90.00   A2/6          $  772,045.48      43.65   STD        8.350         356   I           4F              1   N
 81.58   IOA2/6        $  774,996.06      44.76   STD        8.990         351   P           SFR             1   Y
 80.00   IOA2/6        $  780,000.00      46.25   STD        7.590         350   P           SFR             1   Y
 90.00   A2/6 B30/40   $  782,683.63      49.06   STD        9.200         358   P           SFR             1   N
 78.70   A2/6 B30/40   $  849,621.74      36.94   FULL       8.875         358   S           CO              1   N
 90.00   IOA2/6        $  855,000.00      37.20   FULL       7.990         357   P           PUD             1   N
 90.00   A3/6 B30/40   $  988,299.27      59.34   FULL       6.600         356   P           SFR             1   N
 74.95   A2/6 B30/40   $  988,616.63      35.63   FULL       7.625         358   P           CO              1   N
 70.77   IOA2/6        $1,000,000.00      31.77   STD        8.375         357   P           SFR             1   N


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
nonresearch personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



9. LIST OF LOANS WITH CLTV EQUAL TO OR GREATER THAN 80%

list of the loans with CLTV, Product Type, Balance, FICO, Geog, Purpose, DTI,
Doc Type, Coup Rate, Remaining Term, Occupancy, Property Type, Lien status,
Silent Second, MI





CLTV     PRODUCT                BALANCE       FICO   CITY                  STATE   ZIP     PURPOSE
------   --------------------   -----------   ----   -------------------   -----   -----   -------

 80.00   A2/6                   $133,029.42    517   Ocala                 FL      34476   CO
 80.00   A2/6                   $168,204.24    587   Opa Locka             FL      33056   P
 80.00   IOA2/6                 $512,000.00    665   San Jose              CA-N    95127   P
 80.00   IOA2/6                 $192,000.00    682   Las Vegas             NV      89110   P
 80.00   A2/6                   $130,953.83    598   North Las Vegas       NV      89030   CO
 80.00   IOA2/6                 $401,600.00    628   Santa Rosa            CA-N    95403   P
 80.00   IOA2/6                 $200,000.00    622   Las Vegas             NV      89146   P
 80.00   Dual Amort - 10/40 -
         2 Year/6 Month         $135,481.39    657   Tacoma                WA      98405   P
 80.00   IOA3/6                 $620,450.00    629   San Jose              CA-N    95136   P
 80.00   A2/6                   $148,391.95    688   Miami                 FL      33032   P
 80.00   A2/6                   $158,302.66    627   Pearland              TX      77581   P
 80.00   A2/6 B30/40            $395,817.69    726   Sacramento            CA-N    95828   P
 80.00   A2/6 B30/40            $106,368.48    580   Tacoma                WA      98404   P
 80.00   A2/6                   $146,104.60    620   Suffolk               VA      23434   CO
 80.00   IOA2/6                 $148,000.00    590   Glendale              AZ      85301   P
 80.00   IOA2/6                 $204,000.00    711   Fresno                CA-N    93726   P
 80.00   IOA3/6                 $ 91,129.45    628   Loveland              OH      45140   P
 80.00   A2/6                   $105,011.00    595   Bethlehem             PA      18018   CO
 80.00   A2/6                   $167,014.15    603   Lansing               IL      60438   P
 80.00   A2/6                   $148,919.95    511   Pine Hill             NJ       8009   CO
 80.00   A2/6                   $148,222.41    608   Riverview             FL      33569   P
 80.00   A2/6                   $286,704.25    505   Temple Hills          MD      20748   CO
 80.00   A2/6                   $443,928.25    631   La Mirada             CA-S    90638   P
 80.00   A2/6                   $142,716.46    571   Minooka               IL      60447   P
 80.00   Dual Amort - 10/40 -
         2 Year/6 Month         $598,234.70    630   Minneapolis           MN      55449   CO
 80.00   A1/6                   $274,324.98    596   Holbrook              NY      11741   CO
 80.00   A2/6                   $ 99,966.28    583   Belen                 NM      87002   P
 80.00   IOA2/6                 $176,788.99    697   Miramar               FL      33025   P
 80.00   A2/6                   $136,537.04    670   Fort Lauderdale       FL      33334   P
 80.00   A2/6                   $254,770.84    632   Vernon                CT       6066   CO
 80.00   A2/6                   $179,139.21    620   Lake Worth            FL      33461   P
 80.00   A2/6 B30/40            $207,443.28    644   Rancho Cucamonga      CA-S    91730   P
 80.00   A2/6                   $267,049.08    653   Hollywood             FL      33021   P
 80.00   IOA2/6                 $149,192.00    731   Miramar               FL      33025   P
 80.00   A2/6 B30/40            $332,941.64    664   Rancho Cucamonga      CA-S    91737   P
 80.00   A2/6                   $250,692.19    677   Kissimmee             FL      34746   P
 80.00   A2/6 B30/40            $291,396.11    612   Stockton              CA-N    95210   P
 80.00   A2/6                   $240,513.90    569   Reno                  NV      89503   CO
 80.00   A2/6                   $158,326.44    602   Tucson                AZ      85746   CO
 80.00   IOA2/6                 $227,475.19    692   Cape Coral            FL      33990   P
 80.00   A2/6 B30/40            $183,673.30    692   Delray Beach          FL      33445   P
 80.00   A2/6                   $145,320.67    662   Tacoma                WA      98444   CO
 80.00   IOA2/6                 $352,000.00    634   Los Angeles           CA-S    90011   P
 80.00   IOA2/6                 $504,000.00    682   Sunland               CA-S    91040   CO
 80.00   A2/6                   $218,969.89    673   Hialeah               FL      33015   CO
 80.00   A2/6 B30/40            $399,344.90    540   Los Angeles           CA-S    90003   CO
 80.00   IOA2/6                 $236,000.00    652   Estero                FL      33928   P
 80.00   A2/6 B30/40            $301,730.80    712   Riverside             CA-S    92509   P
 80.00   IOA2/6                 $235,999.50    658   Stockton              CA-N    95215   P
 80.00   A2/6 B30/40            $219,282.88    638   Orlando               FL      32835   P
 80.00   A2/6 B30/40            $136,136.45    723   Harvard               IL      60033   P
 80.00   A2/6 B30/40            $470,917.80    644   Watsonville           CA-N    95076   P
 80.00   A2/6                   $ 56,456.39    624   Greensboro            NC      27406   P
 80.00   IOA2/6                 $148,000.00    686   Denver                CO      80249   P
 80.00   A2/6 B30/40            $411,154.70    666   Scottsdale            AZ      85255   P
 80.00   IOA2/6                 $235,920.00    634   Henderson             NV      89052   P
 80.00   A2/6 B30/40            $118,205.11    591   South Daytona         FL      32119   CO
 80.00   A2/6 B30/40            $137,861.30    670   Saint Paul            MN      55121   CO
 80.00   A3/6 B30/40            $167,671.01    574   Portland              OR      97225   CO
 80.00   A2/6                   $244,396.92    721   Hialeah               FL      33016   P
 80.00   IOA2/6                 $252,000.00    622   Lancaster             CA-S    93535   CO
 80.00   IOA2/6                 $144,258.00    697   Estero                FL      33928   P
 80.00   IOA2/6                 $180,000.00    605   Hialeah               FL      33016   P
 80.00   A2/6                   $120,046.71    600   Opa Locka             FL      33054   P
 80.00   A2/6                   $215,524.88    619   Port Saint Lucie      FL      34986   P
 80.00   A2/6 B30/40            $463,192.70    724   Coral Springs         FL      33076   P
 80.00   IOA2/6                 $296,000.00    580   Chandler              AZ      85225   CO
 80.00   A2/6                   $267,007.45    632   Coral Gables          FL      33134   P
 80.00   A2/6                   $477,100.21    630   Riverside             CA-S    92509   P
 80.00   IOA2/6                 $344,689.38    616   Tracy                 CA-N    95376   P
 80.00   A2/6                   $108,206.16    593   Houston               TX      77083   P
 80.00   A3/6                   $ 89,178.42    597   York                  PA      17404   P
 80.00   IOA2/6                 $280,000.00    615   Victorville           CA-S    92394   P
 80.00   IOA2/6                 $240,108.00    690   Winter Haven          FL      33884   P
 80.00   A2/6                   $ 99,581.51    612   Milan                 TN      38358   P
 80.00   IOA2/6                 $344,000.00    611   Suisun City           CA-N    94585   P
 80.00   IOA2/6                 $224,000.00    636   Buckeye               AZ      85326   P
 80.00   A2/6                   $116,317.05    680   Milwaukee             WI      53214   CO
 80.00   IOA2/6                 $231,280.00    660   Carson City           NV      89701   P
 80.00   IOA2/6                 $369,600.00    645   Rancho Cucamonga      CA-S    91730   P
 80.00   IOA2/6                 $344,000.00    629   Fontana               CA-S    92335   CO
 80.00   A2/6                   $214,792.98    598   Miami                 FL      33110   P
 80.00   A2/6                   $139,346.63    642   Tampa                 FL      33609   P
 80.00   IOA2/6                 $313,350.00    608   Hanford               CA-S    93230   P
 80.00   A2/6 B30/40            $318,296.85    645   Lake Elsinore         CA-S    92530   P
 80.00   A2/6                   $219,002.57    617   Salisbury             MA       1952   P
 80.00   IOA2/6                 $151,600.00    612   Hays                  KS      67601   P
 80.00   A2/6 B30/40            $423,264.31    654   Vallejo               CA-N    94589   P
 80.00   A2/6 B30/40            $117,687.64    633   Orlando               FL      32801   P
 80.00   A2/6                   $491,400.38    631   Acworth               GA      30101   CO
 80.00   F30                    $118,866.84    669   Hurst                 TX      76053   P
 80.00   A2/6 B30/40            $445,607.05    641   Clovis                CA-N    93619   P
 80.00   A2/6 B30/40            $ 65,468.88    679   Philadelphia          PA      19124   P
 80.00   A2/6                   $261,394.29    652   Melrose Park          IL      60160   P
 80.00   IOA2/6                 $380,000.00    619   Long Beach            CA-S    90805   P
 80.00   F30                    $ 49,899.97    522   Cherryville           NC      28021   P
 80.00   A2/6                   $155,584.89    554   Phoenix               AZ      85043   CO
 80.00   A2/6 B30/40            $151,782.49    602   Pittsburgh            PA      15215   CO
 80.00   F30                    $123,590.09    659   Lawrence              MA       1841   CO
 80.00   A2/6 B30/40            $191,633.26    654   Washington            DC      20020   P
 80.00   A2/6 B30/40            $599,077.64    620   Gilroy                CA-N    95020   P
 80.00   A2/6                   $108,247.74    613   Crest Hill            IL      60435   P
 80.00   F30                    $103,365.72    524   Cypress               TX      77429   P
 80.00   A2/6 B30/40            $ 85,506.90    679   Phoenix               AZ      85051   P
 80.00   B30/40                 $351,487.58    699   Central Islip         NY      11722   P
 80.00   A2/6                   $142,790.50    661   Cabot                 AR      72023   P
 80.00   A2/6                   $ 55,864.40    544   Clinton               IA      52732   P
 80.00   IOA2/6                 $780,000.00    776   Los Angeles/Tarzana   CA-S    91356   P
 80.00   A2/6 B30/40            $139,010.37    588   Powder Springs        GA      30127   P
 80.00   A2/6                   $103,619.57    623   Leavenworth           KS      66048   CO
 80.00   A2/6                   $271,193.68    618   Washington            DC      20011   CO
 80.00   A2/6 B30/40            $363,604.15    636   Las Vegas             NV      89110   P
 80.00   A2/6 B30/40            $519,419.29    612   Brooklyn              NY      11216   P
 80.00   A2/6 B30/40            $ 77,633.39    756   Phoenix               AZ      85043   P
 80.00   A2/6 B30/40            $566,789.42    718   Sherman Oaks          CA-S    91403   CO
 80.00   A2/6 B30/40            $110,847.45    639   Chicago               IL      60626   P
 80.00   A2/6 B30/40            $135,610.49    636   Grand Rapids          MI      49508   CO
 80.00   A2/6                   $219,250.50    667   Rio Rancho            NM      87124   CO
 80.00   A2/6 B30/40            $107,837.48    660   Aztec                 NM      87410   P
 80.00   A2/6                   $196,662.44    680   Oak Harbor            WA      98277   P
 80.00   A2/6 B30/40            $143,798.34    671   Atlanta               GA      30337   CO
 80.00   A2/6 B30/40            $279,673.21    749   Newark                NJ       7107   P
 80.00   A2/6 B30/40            $323,323.44    712   Huntington Station    NY      11746   P
 80.00   A2/6                   $ 61,319.95    554   Fostoria              OH      44830   CO
 80.00   A2/6                   $209,537.00    662   Hamden                CT       6514   P
 80.00   A2/6 B30/40            $302,352.12    642   Knoxville             MD      21758   P
 80.00   A3/6                   $171,478.96    516   Island Lake           IL      60042   RT
 80.00   A3/6                   $175,355.84    713   Westfield             MA       1085   P
 80.00   A3/6                   $ 87,781.26    528   Killeen               TX      76549   CO
 80.00   A2/6 B30/40            $299,613.41    611   Ontario               CA-S    91764   P
 80.00   IOA2/6                 $611,904.69    760   La Palma              CA-S    90623   P
 80.00   A2/6 B30/40            $183,724.74    622   Kissimee              FL      34759   P
 80.00   A2/6 B30/40            $499,220.33    677   Oxnard                CA-S    93033   P
 80.00   A2/6                   $518,319.10    627   Wailuku               HI      96793   P
 80.00   A2/6                   $116,061.71    592   Miami                 FL      33142   P
 80.00   B30/40                 $567,428.17    621   Walnut                CA-S    91789   P
 80.00   A2/6                   $191,439.58    607   Davie                 FL      33328   P
 80.00   A2/6 B30/40            $155,804.10    569   North Las Vegas       NV      89030   CO
 80.00   A2/6                   $303,112.64    549   Westerly              RI       2891   CO
 80.00   F30                    $ 75,720.52    629   San Antonio           TX      78213   P
 80.00   IOA2/6                 $268,000.00    641   San Diego             CA-S    92120   P
 80.00   A2/6                   $203,204.54    633   San Bernardino        CA-S    92411   P
 80.00   A2/6                   $485,564.65    680   Oak Hills             CA-S    92344   P
 80.00   A2/6                   $186,432.16    622   Orlando               FL      32822   P
 80.00   IOA2/6                 $256,000.00    665   El Sobrante           CA-N    94803   P
 80.00   IOA2/6                 $440,000.00    661   Glen Ellen            CA-N    95442   CO
 80.00   A2/6                   $107,617.77    621   Saint Louis           MO      63116   P
 80.00   A2/6                   $243,297.46    688   Lehigh Acres          FL      33971   P
 80.00   A2/6 B30/40            $126,645.66    594   Port Charlotte        FL      33952   P
 80.00   A2/6                   $212,109.86    703   Lehigh Acres          FL      33971   P
 80.00   IOA2/6                 $524,000.00    688   Orange                CA-S    92869   P
 80.00   A2/6                   $205,765.99    621   Wesley Chapel         FL      33544   P
 80.00   IOA2/6                 $307,919.00    678   Perris                CA-S    92571   P
 80.00   A2/6 B30/40            $367,508.62    683   Lake Elsinore         CA-S    92532   CO
 80.00   A2/6 B30/40            $433,082.04    628   Carson                CA-S    90745   P
 80.00   A2/6                   $529,857.99    629   Kissimmee             FL      34744   P
 80.00   IOA2/6                 $531,999.33    622   Lake Forest           CA-S    92630   P
 80.00   A2/6 B30/40            $607,290.39    708   Diamond Bar           CA-S    91765   P
 80.00   A2/6                   $414,975.98    628   Southbury             CT       6488   CO
 80.00   A2/6                   $415,108.04    643   Queens Village        NY      11428   P
 80.00   A2/6                   $191,637.29    507   Mount Laurel          NJ       8054   CO
 80.00   A2/6 B30/40            $255,670.10    625   Ontario               CA-S    91761   P
 80.00   IOA2/6                 $293,600.00    728   Montebello            CA-S    90640   P
 80.00   IOA2/6                 $388,000.00    644   Costa Mesa            CA-S    92626   P
 80.00   A2/6 B30/40            $251,617.97    630   Victorville           CA-S    92394   P
 80.00   A2/6 B30/40            $433,504.92    581   Sylmar                CA-S    91342   P
 80.00   A2/6 B30/40            $707,254.20    657   Boca Raton            FL      33428   CO
 80.00   A2/6 B30/40            $307,641.75    625   Castaic               CA-S    91384   P
 80.00   A2/6                   $563,388.22    621   Miami                 FL      33133   P
 80.00   A2/6 B30/40            $547,363.95    643   Carson                CA-S    90745   P
 80.00   A2/6                   $478,702.40    605   Hacienda Heights      CA-S    91745   P
 80.00   A2/6                   $187,993.87    602   Spanaway              WA      98387   CO
 80.00   IOA2/6                 $334,150.00    681   Lincoln               CA-N    95648   P
 80.00   A2/6 B30/40            $275,561.24    655   North Las Vegas       NV      89032   RT
 80.00   IOA2/6                 $344,000.00    663   Murrieta              CA-S    92562   P
 80.00   A2/6 B30/40            $217,292.50    667   Puyallup              WA      98375   RT
 80.00   IOA2/6                 $316,000.00    640   West Palm Beach       FL      33414   P
 80.00   A2/6                   $ 72,935.68    600   Baton Rouge           LA      70806   P
 80.00   A2/6                   $135,603.04    522   Bloomfield            CT       6002   CO
 80.00   A2/6 B30/40            $351,634.92    588   Oregon City           OR      97045   CO
 80.00   IOA2/6                 $244,000.00    611   Victorville           CA-S    92394   CO
 80.00   A2/6                   $111,483.55    651   Desoto                KS      66018   P
 80.00   F30                    $ 57,748.84    525   Fort Deposit          AL      36032   P
 80.00   IOA2/6                 $426,400.00    655   Paramount             CA-S    90723   P
 80.00   IOA2/6                 $171,880.72    608   West Palm Beach       FL      33407   CO
 80.00   IOA3/6                 $212,800.00    638   Lehigh Acres          FL      33972   P
 80.00   IOA2/6                 $184,000.00    643   Hialeah               FL      33015   P
 80.00   A3/6                   $ 71,777.87    665   Atlanta               GA      30311   P
 80.00   IOA3/6                 $259,876.64    664   Coral Gables          FL      33146   P
 80.00   A3/6                   $279,307.24    627   Naples                FL      34116   P
 80.00   A2/6 B30/40            $343,584.36    694   Miami                 FL      33175   P
 80.00   A2/6 B30/40            $248,574.14    600   Lisbon                CT       6351   CO
 80.00   IOA2/6                 $272,000.00    645   Upper Marlboro        MD      20772   P
 80.00   IOA2/6                 $420,000.00    672   Chicago               IL      60646   P
 80.00   A2/6 B30/40            $279,734.10    617   Chicago               IL      60629   CO
 80.00   A2/6                   $ 95,495.47    552   Grove City            OH      43123   P
 80.00   A2/6                   $ 63,870.61    596   Fostoria              OH      44830   P
 80.00   A2/6                   $107,691.18    596   Detroit               MI      48205   P
 80.00   A2/6                   $ 77,961.20    670   Rockford              MI      49341   P
 80.00   A2/6                   $107,928.24    584   Cedar Springs         MI      49319   P
 80.00   A2/6                   $143,608.83    663   Pawtucket             RI       2860   P
 80.00   F20                    $ 77,040.32    645   Dallas                TX      75208   CO
 80.00   F30                    $ 89,468.75    561   Houston               TX      77076   RT
 80.00   A2/6 B30/40            $113,458.36    649   Porter                TX      77365   P
 80.00   F30                    $ 79,881.65    606   Garland               TX      75040   RT
 80.00   A3/6 B30/40            $124,808.49    580   Spokane               WA      99205   CO
 80.00   IOA2/6                 $408,000.00    712   San Pablo             CA-N    94806   P
 80.00   IOA2/6                 $404,000.00    623   Santa Rosa            CA-N    95407   P
 80.00   IOA2/6                 $594,400.00    677   Morgan Hill           CA-N    95037   CO
 80.00   IOA2/6                 $328,000.00    624   Madera                CA-N    93638   P
 80.00   A2/6                   $209,786.23    675   Salt Lake City        UT      84124   P
 80.00   IOA3/6                 $180,000.00    623   Parlier               CA-N    93648   P
 80.00   IOA2/6                 $480,000.00    770   Los Angeles Area      CA-S    90044   P
 80.00   A2/6                   $255,276.06    628   California City       CA-S    93505   P
 80.00   A2/6                   $227,350.06    622   Las Vegas             NV      89145   P
 80.00   IOA2/6                 $176,000.00    700   Longmont              CO      80503   CO
 80.00   IOA2/6                 $175,200.00    686   Denver                CO      80221   CO
 80.00   A2/6 B30/40            $306,044.36    701   Moreno Valley         CA-S    92551   P
 80.00   A2/6 B30/40            $431,205.12    677   Temecula              CA-S    92592   CO
 80.00   IOA2/6                 $480,000.00    620   Los Angeles           CA-S    90047   CO
 80.00   A2/6                   $154,841.85    638   Glendale              AZ      85301   P
 80.00   A2/6                   $268,085.89    617   San Jacinto           CA-S    92583   P
 80.00   IOA2/6                 $279,919.52    605   Colton                CA-S    92324   P
 80.00   IOA2/6                 $322,320.00    618   Norwalk               CA-S    90650   P
 80.00   A2/6                   $150,647.34    670   Thermal               CA-S    92274   P
 80.00   IOA2/6                 $111,599.10    647   Colorado Springs      CO      80909   P
 80.00   A2/6                   $151,460.22    627   Casa Grande           AZ      85222   P
 80.00   IOA2/6                 $200,000.00    604   Whittier              CA-S    90605   CO
 80.00   F30                    $152,360.06    676   Saline                MI      48176   P
 80.00   IOA2/6                 $281,600.00    660   Beaumont              CA-S    92223   P
 80.00   A2/6                   $259,537.81    567   Columbia              CT       6237   CO
 80.00   A2/6                   $303,383.99    565   Oakland               CA-N    94609   CO
 80.00   A2/6                   $315,141.64    707   Barre                 MA       1005   CO
 80.00   A2/6 B30/40            $451,607.84    566   South Ozone Park      NY      11420   CO
 80.00   A2/6                   $207,660.15    649   Port Saint Lucie      FL      34953   P
 80.00   IOA2/6                 $248,000.00    645   Severn                MD      21144   P
 80.00   A2/6 B30/40            $250,207.14    552   Bakersfield           CA-S    93307   CO
 80.00   IOA2/6                 $384,000.00    718   Norwalk               CA-S    90650   P
 80.00   A2/6 B30/40            $151,465.98    632   Westminster           CO      80020   P
 80.00   IOA2/6                 $474,080.00    721   Inglewood             CA-S    90302   P
 80.00   A2/6 B30/40            $291,765.03    634   Las Vegas             NV      89147   P
 80.00   A2/6 B30/40            $278,660.62    757   Merced                CA-N    95340   P
 80.00   A2/6 B30/40            $671,089.85    621   Boyds                 MD      20841   CO
 80.00   IOA2/6                 $251,812.00    660   San Jacinto           CA-S    92582   P
 80.00   A2/6 B30/40            $174,167.11    693   Chicago               IL      60616   P
 80.00   A2/6 B30/40            $199,729.91    577   Charlottesville       VA      22901   CO
 80.00   A2/6 B30/40            $244,821.99    701   Waldorf               MD      20603   CO
 80.00   F30                    $151,399.91    561   Landers               CA-S    92285   CO
 80.00   A2/6                   $171,691.78    549   Chicago               IL      60651   CO
 80.00   A2/6 B30/40            $134,201.88    605   Chicago               IL      60617   CO
 80.00   A2/6                   $ 56,705.51    553   Anderson              SC      29624   P
 80.00   A2/6                   $251,343.83    556   Visalia               CA-S    93277   CO
 80.00   A2/6                   $638,432.58    613   La Habra Heights      CA-S    90631   P
 80.00   F30                    $130,031.95    622   Portsmouth            VA      23702   CO
 80.00   IOA2/6                 $680,000.00    687   Los Angeles           CA-S    91406   P
 80.00   B30/40                 $295,575.78    630   Fresno                CA-N    93722   RT
 80.00   A2/6 B30/40            $463,276.64    779   Lakewood              CA-S    90713   P
 80.00   A2/6 B30/40            $399,702.16    694   Long Beach            CA-S    90810   P
 80.00   A2/6 B30/40            $287,710.83    681   Las Vegas             NV      89128   RT
 80.00   A2/6                   $282,976.77    600   Charlottesville       VA      22911   P
 80.00   A2/6                   $191,478.46    631   Monee                 IL      60449   CO
 80.00   A2/6 B30/40            $739,592.98    646   Los Angeles           CA-S    90029   CO
 80.00   IOA2/6                 $528,000.00    691   Mira Loma             CA-S    91752   P
 80.00   A2/6 B30/40            $491,485.46    651   Long Beach            CA-S    90806   CO
 80.00   A2/6 B30/40            $199,857.62    518   Streamwood            IL      60107   CO
 80.00   IOA2/6                 $384,000.00    693   Riverside             CA-S    92509   P
 80.00   A2/6                   $418,832.37    625   Corona                CA-S    92879   P
 80.00   A2/6                   $187,511.94    605   Chicago               IL      60652   CO
 80.00   A2/6 B30/40            $339,330.28    590   Fontana               CA-S    92335   CO
 80.00   A2/6                   $630,529.54    605   Fullerton             CA-S    92832   P
 80.00   A2/6                   $150,801.53    597   Lakeland              FL      33810   CO
 80.00   IOA2/6                 $232,000.00    713   Lancaster             CA-S    93534   P
 80.00   A2/6                   $378,063.68    619   La Puente             CA-S    91746   P
 80.00   IOA2/6                 $455,200.00    719   Corona                CA-S    92880   P
 80.00   A2/6 B30/40            $227,663.89    665   Schaumburg            IL      60193   P
 80.00   A2/6 B30/40            $154,971.22    759   Shawnee               KS      66216   P
 80.00   F30                    $168,262.62    605   Nashua                NH       3060   P
 80.00   A2/6                   $371,001.65    750   Corona                CA-S    92879   P
 80.00   IOA2/6                 $198,247.00    652   Sun City              AZ      85373   P
 80.00   IOA2/6                 $192,000.00    678   Quinton               VA      23141   P
 80.00   A2/6                   $163,570.84    667   New Richmond          WI      54017   P
 80.00   A2/6                   $446,741.97    745   Jamaica               NY      11436   P
 80.00   A2/6                   $175,539.93    604   Crest Hill            IL      60435   CO
 80.00   IOA2/6                 $455,871.99    723   Moreno Valley         CA-S    92555   CO
 80.00   IOA2/6                 $560,000.00    691   Los Angeles           CA-S    90005   P
 80.00   B30/40                 $423,507.84    612   Buena Park            CA-S    90621   P
 80.00   A2/6                   $131,646.46    615   North Las Vegas       NV      89032   P
 80.00   IOA2/6                 $177,910.98    688   Waukegan              IL      60087   P
 80.00   A2/6                   $187,485.15    621   Chicago               IL      60624   CO
 80.00   IOF30                  $191,200.00    656   West Haven            CT       6516   P
 80.00   A2/6 B30/40            $301,219.55    614   Palmdale              CA-S    93551   P
 80.00   F30                    $258,457.40    644   Ozark                 MO      65721   CO
 80.00   A2/6                   $239,565.19    614   Golden                CO      80403   CO
 80.00   A2/6 B30/40            $582,680.90    673   Los Angeles           CA-S    90094   P
 80.00   A2/6 B30/40            $319,584.67    648   Taunton               MA       2780   P
 80.00   IOA2/6                 $152,000.00    724   Cape Coral            FL      33909   P
 80.00   A2/6 B30/40            $463,373.34    680   Fullerton             CA-S    92831   P
 80.00   A2/6                   $578,905.35    696   Irvine                CA-S    92602   P
 80.00   A2/6 B30/40            $115,883.88    645   Downers Grove         IL      60515   P
 80.00   A2/6                   $111,702.44    653   Jacksonville          FL      32210   CO
 80.00   A2/6 B30/40            $151,895.88    630   Decatur               GA      30034   P
 80.00   A2/6                   $227,388.12    674   Lancaster             CA-S    93534   CO
 80.00   A2/6                   $650,553.75    761   Los Angeles           CA-S    90028   P
 80.00   A2/6                   $138,811.04    622   Hanover Park          IL      60133   P
 80.00   A2/6                   $459,100.32    702   Brooklyn              NY      11208   P
 80.00   A2/6                   $169,242.15    604   Grand Junction        CO      81506   P
 80.00   A2/6                   $311,440.53    649   New Castle            DE      19720   CO
 80.00   IOA2/6                 $412,000.00    634   Spring Valley Area    CA-S    91977   CO
 80.00   A2/6                   $ 99,791.12    654   Austin                TX      78745   P
 80.00   IOA2/6                 $530,800.00    667   Orange                CA-S    92867   P
 80.00   A2/6                   $ 93,352.69    508   Louisville            KY      40216   P
 80.00   A2/6 B30/40            $117,497.95    615   Enfield               CT       6082   P
 80.00   F30                    $158,079.00    647   Richmond              VA      23233   CO
 80.00   A2/6                   $165,280.11    615   Poinciana             FL      34759   CO
 80.00   A2/6                   $166,062.11    595   Chicago               IL      60620   CO
 80.00   A2/6 B30/50            $203,934.59    625   Big Bear Lake         CA-S    92315   P
 80.00   A2/6 B30/40            $243,797.86    672   Cicero                IL      60804   CO
 80.00   A2/6 B30/40            $325,386.63    674   Perris                CA-S    92571   P
 80.00   A2/6                   $333,019.40    577   Pompano Beach         FL      33060   P
 80.00   A2/6 B30/40            $367,582.81    639   Las Vegas             NV      89142   P
 80.00   IOA2/6                 $235,160.00    721   Bakersfield           CA-S    93307   P
 80.00   IOA2/6                 $228,000.00    703   Sunrise               FL      33313   P
 80.00   A2/6                   $ 83,825.97    617   North Miami           FL      33161   P
 80.00   A3/6 B30/40            $391,579.94    701   Miami Gardens         FL      33169   P
 80.00   A3/6                   $108,596.33    626   West Palm Beach       FL      33415   P
 80.00   A2/6                   $415,332.88    655   Miami                 FL      33145   P
 80.00   F30                    $159,603.47    650   Big Lake              MN      55309   P
 80.00   A3/6                   $283,520.29    586   Miami                 FL      33170   CO
 80.00   A2/6                   $179,676.58    617   Mattapan              MA       2126   P
 80.00   F30                    $232,277.39    673   Lake Worth            FL      33460   P
 80.00   A3/6                   $239,532.99    678   Miami                 FL      33177   P
 80.00   A3/6                   $159,703.54    652   Lake Worth            FL      33460   P
 80.00   A3/6 B30/40            $251,785.75    627   Miami                 FL      33142   P
 80.00   IOA2/6                 $220,000.00    621   North Lauderdale      FL      33068   P
 80.00   IOA2/6                 $120,000.00    622   Milford               CT       6460   P
 80.00   A2/6                   $188,290.25    633   New Bern              NC      28562   P
 80.00   A3/6                   $227,619.66    641   Hartford              CT       6106   P
 80.00   A3/6                   $215,539.69    663   East Hartford         CT       6108   P
 80.00   A2/6                   $104,664.17    565   Milwaukee             WI      53208   P
 80.00   IOA2/6                 $271,200.00    675   Miami                 FL      33150   P
 80.00   A3/6 B30/40            $139,917.31    627   Hollywood             FL      33023   P
 80.00   A2/6                   $111,804.89    633   Stone Mountain        GA      30088   P
 80.00   IOA3/6                 $328,000.00    748   Boynton Beach         FL      33437   P
 80.00   A3/6                   $287,613.76    648   Providence            RI       2907   P
 80.00   IOA2/6                 $262,400.00    646   Naples                FL      34116   CO
 80.00   A2/6                   $197,355.98    610   Lehigh Acres          FL      33936   P
 80.00   IOA3/6                 $264,000.00    678   Doral                 FL      33178   P
 80.00   IOA2/6                 $200,800.00    658   Sunrise               FL      33323   P
 80.00   A2/6                   $156,471.85    610   Kissimmee             FL      34741   P
 80.00   A3/6                   $267,504.43    635   Deltona               FL      32738   P
 80.00   A2/6                   $142,894.84    680   Fort Pierce           FL      34951   P
 80.00   A3/6                   $171,738.74    526   Laingsburg            MI      48848   CO
 80.00   A2/6                   $110,958.23    633   Richlands             NC      28574   CO
 80.00   A3/6                   $251,370.10    657   Lincoln               RI       2865   CO
 80.00   F30                    $150,883.57    728   Dade City             FL      33525   P
 80.00   F30                    $119,784.38    584   Three Oaks            MI      49128   P
 80.00   A3/6                   $ 72,700.48    522   Detroit               MI      48224   P
 80.00   A3/6                   $239,599.62    627   Pawtucket             RI       2860   P
 80.00   IOA2/6                 $464,000.00    644   Gaithersburg          MD      20877   P
 80.00   A2/6 B30/40            $189,425.70    625   Pawtucket             RI       2861   P
 80.00   A2/6                   $127,784.25    642   Marion                IN      46953   CO
 80.00   IOA2/6                 $ 72,800.00    630   Baltimore             MD      21215   P
 80.00   A2/6                   $147,680.74    620   Dearborn              MI      48126   P
 80.00   A3/6 B30/40            $123,932.86    635   Durham                NC      27703   P
 80.00   A3/6                   $147,009.21    543   Westland              MI      48186   CO
 80.00   F30                    $ 74,723.54    522   Hickory               NC      28602   CO
 80.00   IOA2/6                 $364,000.00    705   Rockville             MD      20853   P
 80.00   A2/6 B30/40            $251,819.58    620   Beltsville            MD      20705   P
 80.00   A3/6                   $239,570.54    689   Central Falls         RI       2863   P
 80.00   A2/6                   $139,775.97    624   Memphis               TN      38119   P
 80.00   A3/6                   $190,033.26    621   Coral Springs         FL      33071   P
 80.00   A3/6                   $255,526.63    611   Lincolnwood           IL      60712   CO
 80.00   A2/6 B30/40            $139,063.00    665   Glendale Heights      IL      60139   P
 80.00   F30                    $249,833.39    606   Rolling Meadows       IL      60008   CO
 80.00   A2/6                   $127,723.91    625   Chicago               IL      60609   CO
 80.00   A3/6                   $399,245.08    664   Mount Prospect        IL      60056   CO
 80.00   IOA2/6                 $238,000.00    718   Elmwood Park          IL      60707   P
 80.00   A2/6                   $ 84,190.83    677   La Crosse             WI      54603   P
 80.00   A2/6                   $229,045.89    593   Suamico               WI      54173   P
 80.00   A2/6                   $142,110.85    585   Lansing               IL      60438   P
 80.00   A3/6                   $222,072.67    622   Chicago               IL      60609   P
 80.00   A2/6 B30/40            $391,679.04    640   Libertyville          IL      60048   P
 80.00   A2/6                   $ 87,325.08    622   Redford               MI      48240   P
 80.00   A2/6                   $128,760.01    610   Washington Township   MI      48094   P
 80.00   A2/6                   $104,490.37    543   Grand Rapids          MI      49508   P
 80.00   A2/6                   $ 93,019.05    588   Eastpointe            MI      48021   P
 80.00   A2/6                   $ 61,503.66    525   Lansing               MI      48906   P
 80.00   A2/6                   $103,758.56    582   West Jefferson        OH      43162   P
 80.00   A2/6                   $110,947.26    557   Michigan City         IN      46360   P
 80.00   A2/6                   $ 71,738.75    577   Akron                 OH      44314   P
 80.00   A2/6                   $140,417.53    642   Winnebago             IL      61088   P
 80.00   A2/6                   $183,474.66    637   Springfield           MA       1105   P
 80.00   A2/6                   $ 95,845.06    527   Phoenix               AZ      85032   P
 80.00   A3/6                   $144,522.18    622   New Port Richey       FL      34652   P
 80.00   A2/6                   $109,390.77    631   Saint Petersburg      FL      33711   P
 80.00   A2/6 B30/40            $141,470.18    655   Melbourne             FL      32935   P
 80.00   A3/6                   $215,694.56    520   Edgewater Park        NJ       8010   CO
 80.00   A3/6                   $116,557.52    698   Rowlett               TX      75088   P
 80.00   A3/6                   $ 83,831.50    621   Houston               TX      77082   P
 80.00   A3/6                   $142,532.67    650   Grand Prairie         TX      75052   P
 80.00   A2/6                   $131,782.07    630   Frisco                TX      75035   P
 80.00   F30                    $164,507.51    664   Houston               TX      77055   P
 80.00   A3/6                   $ 87,846.99    615   Kingwood              TX      77339   P
 80.00   A2/6                   $ 79,041.50    680   Dallas                TX      75254   P
 80.00   A3/6                   $328,636.64    772   Avenel                NJ       7001   CO
 80.00   F30                    $ 86,181.01    643   Roanoke               VA      24017   CO
 80.00   A3/6                   $121,332.95    663   Roanoke               VA      24012   CO
 80.00   A2/6 B30/40            $ 91,913.63    613   Cashmere              WA      98815   CO
 80.00   A3/6 B30/40            $179,812.50    665   Berthoud              CO      80513   RT
 80.00   F30                    $147,700.10    655   Dallas                TX      75224   RT
 80.00   A3/6                   $ 67,893.42    576   Sherman               TX      75092   CO
 80.00   A3/6                   $124,491.31    647   Grapevine             TX      76051   CO
 80.00   F20                    $115,277.06    706   Garland               TX      75040   CO
 80.00   IOA3/6                 $200,800.00    657   Troutdale             OR      97060   CO
 80.00   IOA2/6                 $440,000.00    654   Bell                  CA-S    90201   P
 80.00   A2/6 B30/40            $158,262.56    665   Tenino                WA      98589   P
 80.00   IOA2/6                 $400,000.00    642   San Jose              CA-N    95116   CO
 80.00   IOA2/6                 $231,200.00    645   Oakdale               CA-N    95361   P
 80.00   IOA2/6                 $240,000.00    644   Ceres                 CA-N    95307   P
 80.00   A2/6 B30/40            $308,899.12    623   Fairfield             CA-N    94533   P
 80.00   IOA2/6                 $423,829.47    643   Antioch               CA-N    94531   P
 80.00   IOA2/6                 $340,000.00    667   Vallejo               CA-N    94590   CO
 80.00   A3/6                   $319,346.96    753   Richmond              CA-N    94804   CO
 80.00   IOA2/6                 $191,950.00    638   Citrus Heights        CA-N    95621   P
 80.00   IOA2/6                 $480,000.00    658   Elk Grove             CA-N    95624   P
 80.00   A2/6 B30/40            $387,648.52    645   Santa Rosa            CA-N    95401   P
 80.00   IOA2/6                 $368,000.00    608   Anaheim               CA-S    92805   P
 80.00   A2/6 B30/40            $459,564.35    601   Garden Grove          CA-S    92840   CO
 80.00   IOA2/6                 $307,971.10    661   Thermal               CA-S    92274   P
 80.00   IOA2/6                 $412,000.00    672   Corona                CA-S    92882   P
 80.00   A3/6 B30/40            $267,715.62    620   Chula Vista           CA-S    91913   P
 80.00   IOA2/6                 $424,000.00    758   Los Angeles           CA-S    90044   P
 80.00   A2/6                   $163,513.69    641   Phoenix               AZ      85051   P
 80.00   IOA3/6                 $233,600.00    707   Riverside             CA-S    92509   P
 80.00   A3/6                   $163,649.81    651   Visalia               CA-S    93292   P
 80.00   IOA2/6                 $238,400.00    621   Cathedral City        CA-S    92234   P
 80.00   A2/6 B30/40            $343,674.70    712   Fallbrook             CA-S    92028   P
 80.00   A2/6                   $154,101.99    663   Morrison              CO      80465   P
 80.00   A2/6 B30/40            $143,895.06    641   Aurora                CO      80013   P
 80.00   IOA2/6                 $244,350.00    662   Tolleson              AZ      85353   P
 80.00   A3/6                   $315,364.83    589   Hesperia              CA-S    92345   P
 80.00   A2/6 B30/40            $191,880.20    647   Tacoma                WA      98408   P
 80.00   A2/6                   $156,437.35    650   Phoenix               AZ      85033   P
 80.00   A2/6                   $162,080.12    642   Mesa                  AZ      85208   P
 80.00   IOA2/6                 $259,950.00    802   Las Vegas             NV      89147   CO
 80.00   A3/6                   $375,346.29    527   Lisle                 IL      60532   CO
 80.00   A3/6                   $191,682.36    588   Elgin                 IL      60120   CO
 80.00   IOA2/6                 $116,000.00    674   Orlando               FL      32809   P
 80.00   A3/6                   $134,205.28    625   Atlanta               GA      30331   CO
 80.00   IOA2/6                 $390,713.00    703   Murrieta              CA-S    92563   P
 80.00   A2/6                   $191,569.85    607   Meriden               CT       6450   CO
 80.00   A2/6                   $178,689.17    582   Philadelphia          PA      19148   RT
 80.00   A2/6 B30/40            $415,449.13    580   Los Angeles           CA-S    91402   CO
 80.00   IOA2/6                 $128,000.00    627   Phoenix               AZ      85042   P
 80.00   IOA2/6                 $240,000.00    649   Adelanto              CA-S    92301   P
 80.00   A2/6 B30/40            $253,906.27    723   Bakersfield           CA-S    93313   P
 80.00   IOA2/6                 $192,000.00    611   Kissimmee             FL      34758   P
 80.00   IOA2/6                 $299,954.55    577   Los Angeles           CA-S    91402   CO
 80.00   B30/40                 $ 74,252.65    631   Jacksonville          FL      32244   P
 80.00   A2/6                   $139,690.03    627   Tampa                 FL      33619   P
 80.00   IOA2/6                 $406,400.00    673   Los Angeles           CA-S    90003   P
 80.00   A2/6 B30/40            $ 75,938.85    548   Lorain                OH      44052   P
 80.00   A2/6                   $ 50,295.35    649   Lorain                OH      44052   CO
 80.00   A2/6 B30/40            $398,710.65    662   Seattle               WA      98125   P
 80.00   A2/6                   $ 75,881.47    511   Salem                 OH      44460   P
 80.00   A2/6 B30/40            $172,366.23    629   Lynnwood              WA      98037   P
 80.00   A2/6 B30/40            $269,671.78    630   Apple Valley          CA-S    92307   P
 80.00   A2/6 B30/40            $156,643.73    631   Vancouver             WA      98660   P
 80.00   A2/6                   $133,712.98    659   Soldotna              AK      99669   P
 80.00   IOA2/6                 $264,000.00    744   Lancaster             CA-S    93536   P
 80.00   IOA2/6                 $443,200.00    640   Morgan Hill           CA-N    95037   P
 80.00   IOA2/6                 $188,000.00    668   Twentynine Palms      CA-S    92277   P
 80.00   A2/6 B30/40            $ 51,958.76    703   Baltimore             MD      21216   P
 80.00   A2/6                   $690,510.44    675   Daly City             CA-N    94015   P
 80.00   IOA2/6                 $392,000.00    652   Sacramento            CA-N    95829   P
 80.00   IOA2/6                 $431,200.00    647   Costa Mesa            CA-S    92627   P
 80.00   A2/6                   $555,173.04    546   Gilbert               AZ      85233   RT
 80.00   IOA2/6                 $424,000.00    656   Bowie                 MD      20720   CO
 80.00   A2/6                   $213,455.39    613   Arlington             TN      38002   P
 80.00   A2/6 B30/40            $295,678.13    614   San Jose              CA-N    95121   P
 80.00   A2/6 B30/40            $179,801.36    606   Indio                 CA-S    92201   P
 80.00   A3/6                   $142,013.19    604   Bethlehem             GA      30620   P
 80.00   A3/6 B30/40            $106,681.64    649   Grand Rapids          MI      49504   P
 80.00   A2/6                   $115,802.48    555   Detroit               MI      48202   P
 80.00   F30                    $143,608.83    628   Sicklerville          NJ       8081   CO
 80.00   A3/6                   $247,341.16    580   Hamilton Square       NJ       8690   CO
 80.00   IOA2/6                 $495,865.68    638   Lake Elsinore         CA-S    92530   P
 80.00   IOA2/6                 $360,000.00    636   Humble                TX      77396   P
 80.00   F30                    $ 71,820.04    652   Dallas                TX      75217   CO
 80.00   A2/6                   $307,236.38    601   Kent                  WA      98031   P
 80.00   IOA2/6                 $368,000.00    614   Oakland               CA-N    94621   P
 80.00   IOA2/6                 $275,909.55    680   Ceres                 CA-N    95307   P
 80.00   A2/6                   $402,902.61    678   Los Angeles           CA-S    90033   P
 80.00   IOA3/6                 $488,000.00    730   Chula Vista           CA-S    91914   P
 80.00   A2/6                   $115,726.74    618   Vale                  OR      97918   RT
 80.00   IOA2/6                 $109,600.00    771   Las Vegas             NV      89120   P
 80.00   IOA2/6                 $176,000.00    676   Miami                 FL      33142   P
 80.00   A2/6 B30/40            $407,630.40    627   Miami                 FL      33134   P
 80.00   A2/6                   $ 71,871.94    643   Pittsburgh            PA      15229   P
 80.00   A3/6                   $223,517.83    607   Apoka                 FL      32712   CO
 80.00   A2/6 B30/40            $223,006.36    633   Port St Lucie         FL      34953   P
 80.00   F30                    $171,658.43    612   Royersford            PA      19468   CO
 80.00   A2/6                   $ 83,845.95    606   Erie                  PA      16508   P
 80.00   IOA2/6                 $282,400.00    642   Miami Gardens         FL      33018   P
 80.00   A3/6                   $ 47,932.13    621   Detroit               MI      48213   P
 80.00   A2/6 B30/40            $192,596.29    709   Kenosha               WI      53142   P
 80.00   A2/6 B30/40            $350,083.48    682   Plantation            FL      33324   P
 80.00   F30                    $ 75,834.42    646   Winston Salem         NC      27103   CO
 80.00   A3/6 B30/40            $124,691.73    606   Powder Springs        GA      30127   P
 80.00   A2/6                   $263,345.71    625   Saugus                MA       1906   P
 80.00   IOA2/6                 $337,600.00    624   Montgomery Village    MD      20886   CO
 80.00   A2/6 B30/40            $153,513.28    552   Clearwater            FL      33760   P
 80.00   A2/6 B30/40            $243,800.22    567   Kensington            MD      20895   CO
 80.00   A3/6                   $ 92,670.17    500   Jackson               TN      38305   CO
 80.00   A3/6 B30/40            $459,382.32    654   Saint Petersburg      FL      33707   P
 80.00   A2/6                   $103,761.83    629   Lafayette             IN      47905   CO
 80.00   A2/6 B30/40            $231,784.33    652   Sarasota              FL      34234   P
 80.00   A3/6 B30/40            $207,830.19    686   Providence            RI       2909   P
 80.00   A2/6 B30/40            $239,769.76    596   Dumfries              VA      22026   CO
 80.00   A2/6 B30/40            $423,696.45    632   Gaithersburg          MD      20882   P
 80.00   A2/6 B30/40            $112,720.19    639   Wayne                 MI      48184   CO
 80.00   A3/6 B30/40            $499,704.74    631   Bristow               VA      20136   CO
 80.00   A2/6                   $100,622.92    653   Memphis               TN      38116   P
 80.00   F30                    $334,971.43    628   Orlando               FL      32817   CO
 80.00   A2/6 B30/40            $139,897.99    639   Spring Hill           FL      34608   P
 80.00   A2/6                   $451,899.01    612   Menomonee Falls       WI      53051   CO
 80.00   A2/6 B30/40            $239,760.40    628   Teutopolis            IL      62467   CO
 80.00   A3/6                   $135,797.30    561   Joliet                IL      60436   CO
 80.00   F30                    $ 80,703.87    634   Lehigh Acres          FL      33971   P
 80.00   F30                    $175,841.92    514   Norfolk               VA      23518   P
 80.00   F30                    $ 69,073.34    602   Dallas                TX      75227   P
 80.00   A2/6 B30/40            $ 59,160.64    576   St Louis              MO      63121   P
 80.00   F15                    $ 75,375.93    641   Houston               TX      77015   CO
 80.00   F30                    $ 67,056.52    619   Kansas City           MO      64138   P
 80.00   A2/6                   $ 64,261.10    680   Houston               TX      77088   P
 80.00   A3/6 B30/40            $203,863.94    577   Egg Harbor City       NJ       8215   CO
 80.00   A3/6                   $114,202.12    537   Cedar Park            TX      78613   RT
 80.00   A3/6 B30/40            $222,213.07    630   Federal Way           WA      98023   CO
 80.00   A3/6 B30/40            $115,850.95    640   Pasco                 WA      99301   CO
 80.00   A2/6 B30/40            $111,879.99    649   Spokane Valley        WA      99212   CO
 80.00   IOA2/6                 $608,000.00    657   Honolulu              HI      96825   CO
 80.00   A3/6 B30/40            $599,357.04    701   Kihei                 HI      96753   CO
 80.00   F30                    $171,633.45    654   Kahului               HI      96732   RT
 80.00   A2/6 B30/40            $599,357.04    595   Honolulu              HI      96819   CO
 80.00   A3/6                   $ 79,062.29    606   El Paso               TX      79907   CO
 80.00   F30                    $ 52,719.63    589   Liberty               TX      77575   CO
 80.00   A3/6                   $127,747.88    574   Willis                TX      77318   CO
 80.00   F30                    $ 95,789.32    643   Lakehills             TX      78063   RT
 80.00   A3/6                   $ 83,850.61    585   Houston               TX      77066   CO
 80.00   F15                    $ 74,537.34    635   Garland               TX      75040   CO
 80.00   F30                    $187,594.50    647   Melissa               TX      75454   CO
 80.00   F30                    $ 71,851.12    626   Fort Worth            TX      76119   RT
 80.00   A3/6                   $ 91,767.47    681   Dallas                TX      75224   CO
 80.00   A3/6                   $267,369.02    659   Trophy Club           TX      76262   CO
 80.00   A2/6                   $327,501.70    500   Gig Harbor            WA      98335   CO
 80.00   A3/6 B30/40            $177,392.95    630   Molalla               OR      97038   RT
 80.00   A3/6 B30/40            $175,882.25    636   Lakewood              WA      98499   RT
 80.00   A3/6 B30/40            $171,813.06    703   Vancouver             WA      98662   CO
 80.00   A3/6 B30/40            $241,384.88    561   Puyallup              WA      98375   CO
 80.00   A3/6 B30/40            $207,816.92    637   Fresno                CA-N    93722   P
 80.00   A2/6 B30/40            $356,427.25    644   Oakley                CA-N    94561   P
 80.00   A2/6 B30/40            $279,677.57    756   Stockton              CA-N    95209   P
 80.00   IOA2/6                 $482,400.00    628   Modesto               CA-N    95355   P
 80.00   IOA2/6                 $476,800.00    765   Tracy                 CA-N    95377   P
 80.00   A2/6 B30/40            $131,875.18    671   Fresno                CA-N    93702   P
 80.00   IOA2/6                 $412,000.00    653   Fairfield             CA-N    94533   CO
 80.00   A2/6 B30/40            $203,835.37    640   Visalia               CA-S    93292   CO
 80.00   A2/6 B30/40            $420,905.06    637   Patterson             CA-N    95363   P
 80.00   A2/6 B30/40            $349,849.37    709   Galt                  CA-N    95632   P
 80.00   A2/6 B30/40            $367,575.77    664   Santa Rosa            CA-N    95401   P
 80.00   A2/6 B30/40            $382,802.50    673   Richmond              CA-N    94801   P
 80.00   A2/6 B30/40            $427,478.26    654   West Sacramento       CA-N    95605   P
 80.00   A2/6 B30/40            $459,498.64    696   Santa Rosa            CA-N    95403   P
 80.00   A2/6 B30/40            $379,523.74    703   Oakley                CA-N    94561   P
 80.00   A2/6 B30/40            $543,521.19    633   Hayward               CA-N    94541   CO
 80.00   A2/6 B30/40            $463,649.31    616   Anaheim               CA-S    92801   CO
 80.00   IOA2/6                 $280,000.00    753   La Puente             CA-S    91746   P
 80.00   A2/6 B30/40            $151,898.62    563   Barstow               CA-S    92311   P
 80.00   IOA2/6                 $126,400.00    634   Phoenix               AZ      85009   P
 80.00   IOA2/6                 $460,000.00    750   Los Angeles           CA-S    90022   P
 80.00   IOA2/6                 $460,000.00    626   Bellflower            CA-S    90706   P
 80.00   IOA2/6                 $264,000.00    661   Eureka                CA-N    95503   P
 80.00   A3/6 B30/40            $511,549.35    664   Orange                CA-S    92865   P
 80.00   A2/6 B30/40            $199,831.42    645   Long Beach            CA-S    90805   P
 80.00   A3/6 B30/40            $384,343.83    680   Norwalk               CA-S    90650   P
 80.00   B30/40                 $351,724.07    639   Chino Hills           CA-S    91709   CO
 80.00   A2/6 B30/40            $447,525.32    676   Los Angeles           CA-S    90037   P
 80.00   A2/6 B30/40            $335,663.62    651   Perris                CA-S    92571   P
 80.00   A2/6 B30/40            $303,649.55    663   Commerce City         CO      80022   CO
 80.00   A3/6 B30/40            $188,703.77    577   Las Vegas             NV      89107   CO
 80.00   A2/6 B30/40            $191,431.35    700   Gilbert               AZ      85296   P
 80.00   A2/6 B30/40            $220,608.44    622   Lancaster             CA-S    93534   P
 80.00   A2/6 B30/40            $231,795.78    634   Calexico              CA-S    92231   P
 80.00   A2/6 B30/40            $135,881.16    595   Peoria                AZ      85345   CO
 80.00   A2/6 B30/40            $290,162.22    666   Chino                 CA-S    91710   P
 80.00   A2/6 B30/40            $299,716.31    650   Phoenix               AZ      85023   CO
 80.00   IOA2/6                 $356,000.00    651   Hemet                 CA-S    92545   P
 80.00   A2/6                   $159,691.19    624   Glendale              AZ      85302   P
 80.00   IOA2/6                 $272,000.00    664   San Bernardino        CA-S    92376   P
 80.00   IOA2/6                 $148,000.00    611   Las Vegas             NV      89030   P
 80.00   A2/6                   $349,533.30    644   Salida                CA-N    95368   CO
 80.00   A3/6                   $459,019.70    583   Brentwood             CA-N    94513   CO
 80.00   A2/6 B30/40            $120,692.46    620   Tucson                AZ      85714   CO
 80.00   IOA2/6                 $144,000.00    652   Tucson                AZ      85706   CO
 80.00   A3/6 B30/40            $143,854.17    643   Keizer                OR      97303   CO
 80.00   A2/6 B30/40            $175,767.54    657   Mcminnville           OR      97128   CO
 80.00   IOA2/6                 $480,000.00    672   Anaheim               CA-S    92801   P
 80.00   A2/6                   $167,648.39    635   Phoenix               AZ      85015   P
 80.00   A2/6                   $179,627.06    657   Glendale              AZ      85303   P
 80.00   A2/6 B30/40            $189,420.69    669   Phoenix               AZ      85006   P
 80.00   A2/6                   $ 95,789.18    637   Wyoming               MI      49548   RT
 80.00   A3/6                   $ 51,910.53    564   Burnham               IL      60633   CO
 80.00   F30                    $ 72,673.42    625   Bethalto              IL      62010   CO
 80.00   A3/6                   $343,401.91    504   Homewood              IL      60430   CO
 80.00   F30                    $126,180.24    544   Chicago               IL      60620   CO
 80.00   F30                    $ 79,860.91    608   Winamac               IN      46996   CO
 80.00   F30                    $ 79,857.71    590   Grand Prairie         TX      75052   CO
 80.00   F30                    $113,353.00    609   Wolfforth             TX      79382   CO
 80.00   F30                    $ 71,874.83    627   Moline                IL      61265   CO
 80.00   A2/6 B30/40            $113,516.02    644   Breese                IL      62230   CO
 80.00   A3/6 B30/40            $173,473.13    604   Chicago               IL      60651   CO
 80.00   F30                    $101,418.76    643   Cleveland             GA      30528   CO
 80.00   F30                    $ 95,818.81    644   Savannah              GA      31408   CO
 80.00   A3/6                   $ 69,479.00    635   Milledgeville         GA      31061   CO
 80.00   A3/6                   $103,809.27    593   Atlanta               GA      30344   CO
 80.00   A2/6                   $399,366.98    602   Coral Springs         FL      33065   P
 80.00   IOA2/6                 $224,000.00    676   Oakland Park          FL      33334   P
 80.00   A3/6                   $175,737.94    720   Davenport             FL      33837   P
 80.00   F30                    $ 67,936.28    533   Muncy                 PA      17756   CO
 80.00   IOA3/6                 $352,000.00    628   Miami                 FL      33183   CO
 80.00   IOA3/6                 $316,000.00    784   Miami Beach           FL      33139   P
 80.00   A2/6                   $ 95,865.40    745   Austell               GA      30168   P
 80.00   A2/6 B30/40            $203,866.56    667   Paddock Lake          WI      53168   P
 80.00   A2/6                   $ 99,869.12    641   Chicago               IL      60628   P
 80.00   A3/6                   $199,730.16    646   Pompano Beach         FL      33064   CO
 80.00   A3/6                   $139,872.94    515   Miami                 FL      33126   CO
 80.00   A2/6                   $ 91,865.73    672   Atlanta               GA      30331   P
 80.00   A3/6                   $253,310.13    655   Providence            RI       2908   P
 80.00   IOA2/6                 $198,400.00    749   Miramar               FL      33025   P
 80.00   A2/6 B30/40            $278,219.97    624   Bloomfield            CT       6002   P
 80.00   IOA2/6                 $228,000.00    746   Miami                 FL      33015   P
 80.00   A3/6                   $ 71,937.38    564   Detroit               MI      48203   P
 80.00   A3/6                   $ 59,145.70    603   Jacksonville          FL      32206   P
 80.00   A3/6                   $121,473.44    652   Chicago Heights       IL      60411   P
 80.00   A3/6                   $115,827.28    759   Plano                 TX      75074   P
 80.00   A3/6                   $117,438.43    623   Sugar Land            TX      77478   P
 80.00   A3/6                   $315,705.83    655   Bloomfield            NJ       7003   CO
 80.00   A3/6                   $ 95,864.46    607   Corpus Christi        TX      78414   CO
 80.00   A3/6                   $ 71,944.23    501   San Antonio           TX      78244   CO
 80.00   F20                    $ 68,576.72    626   Dallas                TX      75241   CO
 80.00   A3/6 B30/40            $207,849.96    618   Spanaway              WA      98387   RT
 80.00   A2/6 B30/40            $291,816.50    674   Richmond              CA-N    94801   P
 80.00   IOA2/6                 $304,000.00    716   Manteca               CA-N    95336   P
 80.00   A2/6                   $236,494.79    624   Las Vegas             NV      89121   CO
 80.00   IOA2/6                 $363,997.63    809   Of Mira Loma          CA-S    91752   P
 80.00   IOA2/6                 $303,200.00    740   Rialto                CA-S    92376   P
 80.00   A2/6                   $195,662.72    642   Johnston              RI       2919   P
 80.00   A2/6                   $148,403.06    614   Branford              CT       6405   P
 80.00   A2/6                   $344,727.30    596   Hamburg               NJ       7419   CO
 80.00   IOA3/6                 $520,000.00    788   Queens Village        NY      11429   P
 80.00   A2/6                   $ 60,738.03    648   Rochester             NY      14613   CO
 80.00   A2/6                   $347,507.19    698   Farmingdale           NY      11738   P
 80.00   A2/6                   $219,593.19    576   Aston                 PA      19014   RT
 80.00   IOA2/6                 $240,000.00    639   West Warwick          RI       2893   CO
 80.00   A3/6                   $195,791.26    623   Fort Lauderdale       FL      33312   P
 80.00   A2/6                   $217,275.36    655   Boynton Beach         FL      33435   P
 80.00   A3/6                   $207,693.39    678   Palm Bay              FL      32907   P
 80.00   A2/6                   $ 59,879.41    615   Detroit               MI      48228   P
 80.00   A2/6                   $ 50,757.21    525   Ellwood City          PA      16117   RT
 80.00   A3/6                   $163,755.82    718   Hialeah               FL      33018   P
 80.00   A2/6                   $188,518.88    669   Sunrise               FL      33313   P
 80.00   A3/6 B30/40            $293,029.02    726   Point Pleasant        NJ       8742   P
 80.00   A3/6                   $133,433.85    624   Miramar               FL      33025   P
 80.00   A3/6                   $247,627.04    668   Miami                 FL      33196   P
 80.00   IOA3/6                 $352,000.00    661   Miami                 FL      33183   CO
 80.00   IOA2/6                 $148,000.00    725   Miami                 FL      33193   P
 80.00   A2/6                   $239,565.22    725   Lansdowne             PA      19050   P
 80.00   A3/6                   $287,504.41    635   Providence            RI       2907   P
 80.00   A3/6                   $359,659.13    547   Trenton               NJ       8628   CO
 80.00   A2/6                   $243,629.37    754   Naples                FL      34113   P
 80.00   A2/6                   $108,661.94    515   Berwick               PA      18603   CO
 80.00   A3/6                   $159,691.19    579   Clearwater            FL      33755   CO
 80.00   A2/6                   $378,628.59    623   Kissimmee             FL      34741   P
 80.00   A2/6                   $130,911.29    600   Branford              CT       6405   P
 80.00   A2/6 B30/40            $364,330.84    652   Stamford              CT       6906   P
 80.00   A3/6                   $103,071.91    666   Richmond              VA      23224   P
 80.00   IOA2/6                 $106,400.00    640   Punta Gorda           FL      33982   P
 80.00   A2/6                   $231,636.94    692   Miami                 FL      33125   P
 80.00   A3/6                   $150,976.66    687   Palm Coast            FL      32164   P
 80.00   IOA3/6                 $190,400.00    690   Port Saint Lucie      FL      34986   P
 80.00   IOF30                  $180,000.00    677   Raleigh               NC      27603   P
 80.00   A3/6 B30/40            $171,142.23    695   Bay Harbor Islands    FL      33154   P
 80.00   A3/6                   $177,424.59    635   Coconut Creek         FL      33066   P
 80.00   A3/6                   $135,638.09    671   Lehigh Acres          FL      33936   CO
 80.00   A3/6                   $ 69,819.59    634   Toledo                OH      43612   CO
 80.00   F30                    $ 55,870.16    627   Humboldt              TN      38343   CO
 80.00   A3/6                   $ 99,098.89    540   Holland               MI      49423   RT
 80.00   A2/6                   $ 79,031.21    654   Detroit               MI      48205   P
 80.00   A2/6                   $110,613.84    752   China Grove           NC      28023   P
 80.00   A3/6                   $ 63,520.84    519   Detroit               MI      48219   P
 80.00   IOA3/6                 $365,600.00    668   Woodbridge            VA      22193   P
 80.00   A2/6                   $106,234.82    684   Nashville             TN      37210   P
 80.00   A2/6 B30/40            $144,732.95    629   Fort Myers            FL      33905   P
 80.00   A2/6 B30/40            $115,945.64    723   Tampa                 FL      33604   P
 80.00   A2/6                   $ 95,916.51    564   Wyoming               MI      49509   P
 80.00   F30                    $351,260.80    670   Waldorf               MD      20601   CO
 80.00   IOA2/6                 $160,000.00    665   Davenport             FL      33837   P
 80.00   A3/6                   $190,229.02    528   District Heights      MD      20747   P
 80.00   A3/6                   $ 91,910.27    709   Rockford              IL      61109   P
 80.00   A2/6                   $150,217.12    666   Maywood               IL      60153   P
 80.00   IOA2/6                 $164,000.00    738   Midlothian            IL      60445   P
 80.00   A2/6                   $156,526.81    623   Midlothian            IL      60445   CO
 80.00   A2/6                   $307,655.17    696   Chicago               IL      60623   P
 80.00   A3/6                   $131,778.23    649   South Milwaukee       WI      53172   RT
 80.00   A3/6                   $399,350.57    629   Chicago               IL      60639   P
 80.00   A3/6 B30/40            $267,845.51    586   Lake In The Hills     IL      60156   CO
 80.00   A2/6                   $123,033.78    668   Chicago               IL      60640   P
 80.00   IOA3/6                 $184,000.00    692   Park Ridge            IL      60068   P
 80.00   A2/6                   $339,626.40    644   Wauconda              IL      60084   P
 80.00   F30                    $131,080.93    647   Mount Pocono          PA      18344   P
 80.00   IOA3/6                 $504,000.00    677   Jamestown             RI       2835   CO
 80.00   A3/6                   $255,197.34    599   Jackson               NJ       8527   RT
 80.00   A3/6                   $142,207.00    624   Tampa                 FL      33617   CO
 80.00   A2/6 B30/40            $205,400.43    650   Virginia Beach        VA      23453   P
 80.00   A2/6                   $227,649.31    560   Cape Coral            FL      33909   CO
 80.00   A2/6                   $251,693.66    547   Wentzville            MO      63385   CO
 80.00   A3/6                   $ 79,900.43    507   Glen Rose             TX      76043   CO
 80.00   A2/6                   $ 71,124.17    649   Saint Louis           MO      63120   P
 80.00   A3/6                   $108,698.71    635   Mansfield             OH      44907   RT
 80.00   A3/6                   $ 87,871.84    509   Houston               TX      77067   CO
 80.00   A3/6                   $117,462.50    552   San Antonio           TX      78249   CO
 80.00   IOA3/6                 $ 86,499.20    636   Prosser               WA      99350   CO
 80.00   A3/6 B30/40            $191,097.48    648   Visalia               CA-S    93291   P
 80.00   IOA2/6                 $420,000.00    672   Napa                  CA-N    94559   P
 80.00   IOA2/6                 $300,000.00    631   Sacramento            CA-N    95823   P
 80.00   A2/6 B30/40            $271,746.43    601   Sacramento            CA-N    95834   CO
 80.00   A2/6 B30/40            $438,116.51    765   Hayward               CA-N    94544   P
 80.00   A2/6 B30/40            $371,730.52    655   Fairfield             CA-N    94534   P
 80.00   A2/6 B30/40            $164,691.89    690   Reedley               CA-N    93654   P
 80.00   A3/6 B30/40            $315,801.41    635   Fairfield             CA-N    94533   P
 80.00   IOA2/6                 $397,600.00    663   Area Of Nuevo         CA-S    92567   CO
 80.00   IOA2/6                 $308,800.00    668   Adelanto              CA-S    92301   P
 80.00   A2/6 B30/40            $201,355.70    648   Avondale              AZ      85323   P
 80.00   A3/6 B30/40            $179,820.29    614   Tulare                CA-S    93274   CO
 80.00   IOA2/6                 $416,000.00    683   San Diego             CA-S    92111   P
 80.00   IOA2/6                 $205,600.00    659   Hesperia              CA-S    92345   P
 80.00   IOA2/6                 $256,000.00    683   West Covina           CA-S    91792   P
 80.00   A2/6 B30/40            $239,043.10    668   Victorville           CA-S    92395   P
 80.00   IOA2/6                 $392,000.00    648   San Diego             CA-S    92126   P
 80.00   A2/6                   $431,368.27    627   Los Angeles           CA-S    90061   P
 80.00   IOA3/6                 $256,800.00    657   Palm Springs          CA-S    92262   P
 80.00   A2/6 B30/40            $303,811.67    669   Colorado Springs      CO      80906   P
 80.00   F30                    $140,695.78    558   Sun City              AZ      85351   CO
 80.00   IOA2/6                 $232,800.00    644   Auburn                WA      98092   CO
 80.00   IOA2/6                 $280,000.00    634   Murrieta              CA-S    92563   P
 80.00   A2/6 B30/40            $191,863.97    600   Las Vegas             NV      89031   P
 80.00   F30                    $174,965.04    591   Portland              OR      97233   CO
 80.00   IOA2/6                 $399,900.00    683   Corona                CA-S    92883   P
 80.00   IOA2/6                 $164,800.00    666   Las Vegas             NV      89030   CO
 80.00   F15                    $ 99,888.94    692   Orion                 IL      61273   CO
 80.00   A3/6                   $303,648.92    573   Park Ridge            IL      60068   CO
 80.00   F30                    $165,436.46    521   Chicago               IL      60652   CO
 80.00   A3/6                   $139,692.56    642   Lithia Springs        GA      30122   CO
 80.00   A2/6 B30/40            $351,672.20    641   Lake Elsinore         CA-S    92530   P
 80.00   IOF30                  $508,000.00    652   Henderson             NV      89014   CO
 80.00   A2/6                   $219,521.67    686   Opa Locka             FL      33056   P
 80.00   A2/6                   $257,055.06    715   Bellport              NY      11713   P
 80.00   A2/6 B30/40            $367,752.57    651   Stamford              CT       6902   CO
 80.00   IOA2/6                 $300,000.00    649   Mastic                NY      11950   CO
 80.00   A2/6                   $404,117.88    613   East Greenwich        RI       2818   P
 80.00   A2/6 B30/40            $239,861.64    580   New Milford           CT       6776   RT
 80.00   A2/6                   $239,692.87    535   Kissimmee             FL      34743   CO
 80.00   IOA2/6                 $219,920.00    637   Crestline             CA-S    92325   P
 80.00   A3/6                   $146,946.71    655   Lawrenceville         GA      30044   P
 80.00   A2/6 B30/40            $195,608.88    720   Helendale             CA-S    92342   P
 80.00   A2/6 B30/40            $467,661.93    625   Rancho Cucamonga      CA-S    91737   CO
 80.00   A3/6                   $ 89,958.39    765   Redford               MI      48239   P
 80.00   A3/6                   $172,145.36    681   Port Saint Lucie      FL      34953   P
 80.00   A2/6                   $195,721.89    645   Phoenix               AZ      85029   P
 80.00   A2/6 B30/40            $177,901.22    662   Providence            RI       2908   P
 80.00   A2/6 B30/40            $269,465.63    742   Chicago               IL      60632   P
 80.00   A2/6 B30/40            $197,472.22    749   Fresno                CA-N    93702   P
 80.00   A2/6 B30/40            $163,914.58    636   Barstow               CA-S    92311   CO
 80.00   A3/6                   $ 98,652.90    663   Mocksville            NC      27028   P
 80.00   A3/6                   $138,221.08    726   Atlanta               GA      30317   P
 80.00   A3/6                   $207,783.52    661   Chicago               IL      60617   P
 80.00   A3/6                   $159,828.16    634   Kissimmee             FL      34759   P
 80.00   A3/6                   $119,862.84    620   Aurora                IL      60505   P
 80.00   A3/6                   $143,821.28    658   Palm Bay              FL      32909   P
 80.00   A3/6                   $291,614.74    638   Valrico               FL      33594   P
 80.00   A3/6 B30/40            $123,929.24    672   Hartford              CT       6120   P
 80.00   A3/6 B30/40            $215,886.19    704   Pompano Beach         FL      33064   P
 80.00   A3/6 B30/40            $131,943.23    734   Round Lake Beach      IL      60073   P
 80.00   A3/6 B30/40            $131,930.24    672   Apache Junction       AZ      85220   P
 80.00   A3/6 B30/40            $259,698.11    634   Pingree Grove         IL      60140   P
 80.00   A3/6 B30/40            $175,374.54    629   Lehigh Acres          FL      33971   P
 80.00   IOA2/6                 $224,000.00    637   Modesto               CA-N    95351   P
 80.00   IOA2/6                 $272,000.00    735   Los Angeles           CA-S    90059   P
 80.00   IOA2/6                 $136,000.00    643   Mesa                  AZ      85204   P
 80.00   IOA2/6                 $367,200.00    617   Sacramento            CA-N    95835   P
 80.00   A2/6                   $327,552.98    634   Miramar               FL      33025   P
 80.00   A2/6                   $241,223.78    663   Victorville           CA-S    92392   CO
 80.00   A2/6                   $ 94,264.70    688   Houston               TX      77080   P
 80.00   A2/6                   $118,631.42    633   Saint Louis           MO      63104   P
 80.00   A2/6                   $131,811.18    743   Tampa                 FL      33610   P
 80.00   A2/6                   $ 79,922.63    630   Columbia              SC      29209   P
 80.00   A2/6                   $256,065.13    632   Lynn                  MA       1905   P
 80.00   A2/6                   $102,293.19    638   Merrillville          IN      46410   P
 80.00   A2/6                   $144,604.65    697   Aurora                IL      60505   P
 80.00   A2/6                   $ 76,717.53    621   Pasadena              TX      77502   P
 80.00   A2/6                   $187,731.92    625   Bridgeport            CT       6610   P
 80.00   A2/6                   $230,039.45    605   Countryside           IL      60525   RT
 80.00   A2/6                   $329,971.98    686   Riverside             CA-S    92505   P
 80.00   A2/6                   $259,708.32    620   Lake Mary             FL      32746   P
 80.00   A2/6                   $223,617.70    626   Atlanta               GA      30310   P
 80.00   A2/6                   $186,193.46    624   Claymont              DE      19703   CO
 80.00   A2/6                   $167,811.52    631   Lyons                 IL      60534   P
 80.00   A2/6                   $131,845.98    646   Smithville            MO      64152   P
 80.00   A2/6                   $210,187.33    629   Cape Coral            FL      33993   P
 80.00   A2/6                   $147,772.50    698   Phoenix               AZ      85051   P
 80.00   A2/6                   $238,867.34    628   Stockton              CA-N    95204   P
 80.00   A2/6                   $201,319.63    622   Phoenix               AZ      85041   CO
 80.00   A2/6                   $230,079.58    666   Rialto                CA-S    92376   P
 80.00   A2/6                   $140,615.74    645   Phoenix               AZ      85031   P
 80.00   A2/6                   $455,409.27    632   Lynwood               CA-S    90262   P
 80.00   A2/6                   $225,622.53    642   Olympia Fields        IL      60461   P
 80.00   A2/6                   $123,793.71    642   Tucson                AZ      85711   P
 80.00   IOA2/6                 $161,600.00    658   Bakersfield           CA-S    93307   P
 80.00   IOA2/6                 $352,000.00    745   Baltimore             MD      21211   CO
 80.00   IOA2/6                 $204,000.00    709   Homestead             FL      33033   P
 80.00   IOA2/6                 $280,000.00    669   Chicago               IL      60617   P
 80.00   IOA2/6                 $188,000.00    688   Elkton                MD      21921   RT
 80.00   IOA2/6                 $133,600.00    695   Apache Junction       AZ      85220   P
 80.00   IOA2/6                 $212,800.00    666   Isleton               CA-N    95641   P
 80.00   IOA2/6                 $176,000.00    698   Streamwood            IL      60107   P
 80.00   IOA2/6                 $239,200.00    618   Yucaipa               CA-S    92399   P
 80.00   IOA2/6                 $260,000.00    661   Woodbridge            VA      22193   P
 80.00   IOA2/6                 $213,600.00    653   River Grove           IL      60171   P
 80.00   IOA2/6                 $173,600.00    770   Houston               TX      77044   P
 80.00   IOA2/6                 $384,000.00    775   Hayward               CA-N    94541   P
 80.00   IOA2/6                 $247,200.00    619   Scottsdale            AZ      85251   CO
 80.00   IOA2/6                 $210,400.00    628   Prescott Valley       AZ      86314   P
 80.00   IOA2/6                 $269,600.00    639   Lancaster             CA-S    93535   P
 80.00   IOA2/6                 $488,800.00    612   Thousand Oaks         CA-S    91360   CO
 80.00   IOA2/6                 $236,000.00    601   Victorville           CA-S    92395   CO
 80.00   IOA2/6                 $343,200.00    620   Reseda                CA-S    91335   P
 80.00   IOA2/6                 $336,000.00    642   Sacramento            CA-N    95828   P
 80.00   IOA2/6                 $226,400.00    652   Las Vegas             NV      89156   P
 80.00   IOA2/6                 $364,000.00    621   Rialto                CA-S    92377   CO
 80.00   IOA2/6                 $656,000.00    700   Las Vegas             NV      89117   P
 80.00   A2/6 B30/40            $131,898.85    664   Torrington            CT       6790   P
 80.00   A2/6 B30/40            $133,934.17    754   Tulare                CA-S    93274   P
 80.00   A2/6 B30/40            $142,733.86    654   New Port Richey       FL      34655   CO
 80.00   A2/6 B30/40            $156,703.14    648   Jacksonville          FL      32218   CO
 80.00   A2/6 B30/40            $135,921.61    638   Plano                 TX      75075   P
 80.00   A2/6 B30/40            $327,730.48    761   Fairfield             CA-N    94533   P
 80.00   A2/6 B30/40            $187,090.52    665   Tolleson              AZ      85353   P
 80.00   A2/6 B30/40            $155,888.89    725   Millbury              MA       1527   P
 80.00   A2/6 B30/40            $199,895.84    631   Las Vegas             NV      89106   CO
 80.00   A2/6 B30/40            $215,854.23    680   Modesto               CA-N    95358   P
 80.00   A2/6 B30/40            $162,275.54    626   Tampa                 FL      33625   P
 80.00   A2/6 B30/40            $307,863.55    643   Norridge              IL      60706   P
 80.00   A2/6 B30/40            $251,528.32    652   Cape Coral            FL      33909   P
 80.00   A2/6 B30/40            $205,510.51    737   Port Saint Lucie      FL      34983   P
 80.00   A2/6 B30/40            $327,787.89    699   Fairfield             CA-N    94533   P
 80.00   A2/6 B30/40            $174,298.00    644   Sunrise               FL      33313   P
 80.00   A2/6 B30/40            $319,787.68    671   Bartlett              IL      60103   P
 80.00   A2/6 B30/40            $319,798.89    669   Pomona                CA-S    91767   P
 80.00   A2/6 B30/40            $211,839.80    723   San Bernardino        CA-S    92411   P
 80.00   A2/6 B30/40            $223,863.60    630   Chicago               IL      60638   CO
 80.00   A2/6 B30/40            $280,070.23    640   Chicago               IL      60651   P
 80.00   A2/6 B30/40            $181,490.69    687   Phoenix               AZ      85051   P
 80.00   A2/6 B30/40            $189,464.95    656   Kent                  WA      98031   CO
 80.00   A2/6 B30/40            $587,597.48    681   Hayward               CA-N    94541   P
 80.00   A2/6 B30/40            $227,868.56    662   Auburn                WA      98001   P
 80.00   A2/6 B30/40            $159,896.38    629   Round Lake Park       IL      60073   CO
 80.00   A2/6 B30/40            $322,150.15    729   Ontario               CA-S    91764   P
 80.00   A2/6 B30/40            $199,851.39    610   Waldorf               MD      20601   P
 80.00   A2/6 B30/40            $171,883.92    716   Phoenix               AZ      85051   P
 80.00   A2/6 B30/40            $223,837.72    790   Glendale              AZ      85307   P
 80.00   A2/6 B30/40            $295,855.67    661   San Jose              CA-N    95123   P
 80.00   A2/6 B30/40            $299,811.48    676   Riverside             CA-S    92503   P
 80.00   A2/6 B30/40            $215,840.45    652   Desert Hot Springs    CA-S    92240   P
 80.00   A2/6 B30/40            $447,756.27    640   Hayward               CA-N    94541   P
 80.00   A2/6 B30/40            $284,633.42    595   Las Vegas             NV      89032   P
 80.00   A2/6 B30/40            $290,230.16    624   Galt                  CA-N    95632   P
 80.00   A2/6 B30/40            $292,623.75    641   Moreno Valley         CA-S    92553   P
 80.00   A2/6 B30/40            $299,822.00    634   Winters               CA-N    95694   P
 80.00   A2/6 B30/40            $436,446.04    658   Oceanside             CA-S    92056   P
 80.00   A2/6 B30/40            $179,888.48    608   Phoenix               AZ      85015   P
 80.00   A2/6 B30/40            $422,893.43    626   Buena Park            CA-S    90621   P
 80.00   A2/6 B30/40            $411,762.50    645   Antioch               CA-N    94531   P
 80.00   A2/6 B30/40            $384,613.75    635   Galt                  CA-N    95632   P
 80.00   A2/6 B30/40            $431,728.51    626   Pomona                CA-S    91768   P
 80.00   A2/6 B30/40            $243,861.36    650   Diamond Bar           CA-S    91765   P
 80.00   A2/6 B30/40            $595,536.84    653   San Jose              CA-N    95002   P
 80.00   A2/6 B30/40            $399,769.40    621   Los Angeles           CA-S    90042   P
 80.00   A2/6 B30/40            $194,257.18    637   Sacramento            CA-N    95824   P
 80.00   A2/6 B30/40            $203,880.69    624   North Las Vegas       NV      89032   P
 80.00   A2/6 B30/40            $254,263.59    641   Riverside             CA-S    92504   P
 80.00   A3/6                   $171,755.94    663   Spring Hill           FL      34608   P
 80.00   A3/6                   $222,165.59    630   Waukegan              IL      60085   CO
 80.00   A3/6                   $121,445.17    677   Lilburn               GA      30047   CO
 80.00   A3/6                   $211,708.72    653   Pawtucket             RI       2861   CO
 80.00   A3/6                   $178,175.86    661   Kissimmee             FL      34744   CO
 80.00   A3/6                   $239,700.92    605   Whitehall             PA      18052   RT
 80.00   A3/6                   $134,199.90    708   Kenneth City          FL      33709   P
 80.00   IOA3/6                 $128,000.00    679   Sterling Heights      MI      48313   P
 80.00   IOA3/6                 $180,000.00    662   Gwynn Oak             MD      21207   CO
 80.00   IOA3/6                 $252,000.00    677   Felton                DE      19943   CO
 80.00   IOA3/6                 $304,000.00    700   Sacramento            CA-N    95828   P
 80.00   IOA3/6                 $160,000.00    697   Round Lake Park       IL      60073   CO
 80.00   IOA3/6                 $440,000.00    653   San Diego             CA-S    92154   P
 80.00   IOA3/6                 $220,000.00    637   Desert Hot Springs    CA-S    92240   P
 80.00   A3/6 B30/40            $174,282.30    623   Southfield            MI      48076   CO
 80.00   A3/6 B30/40            $183,917.27    631   Douglasville          GA      30135   P
 80.00   A3/6 B30/40            $355,735.49    638   Quincy                MA       2169   CO
 80.00   A3/6 B30/40            $184,680.50    606   Homewood              IL      60430   P
 80.00   A3/6 B30/40            $231,804.01    649   West Palm Beach       FL      33409   P
 80.00   A3/6 B30/40            $223,837.78    642   Hollywood             FL      33023   P
 80.00   A3/6 B30/40            $275,056.68    631   Cathedral City        CA-S    92234   P
 80.00   A3/6 B30/40            $167,890.90    613   Tacoma                WA      98408   RT
 80.00   A3/6                   $ 91,893.53    586   Detroit               MI      48224   P
 80.00   A3/6                   $268,482.44    576   Fort Myers            FL      33912   CO
 80.00   A2/6                   $342,088.60    500   Jupiter               FL      33477   CO
 80.00   A3/6                   $ 65,554.91    561   Dallas                TX      75203   CO
 80.00   A3/6                   $ 59,951.59    504   Sparta                NC      28675   CO
 80.00   A3/6                   $169,423.10    542   Everett               WA      98204   CO
 80.00   A3/6                   $131,847.57    584   Richton Park          IL      60471   CO
 80.00   A3/6                   $123,083.11    529   Waxahachie            TX      75165   CO
 80.00   A3/6                   $181,450.28    505   Glen Burnie           MD      21060   CO
 80.00   A3/6                   $ 95,907.17    505   Detroit               MI      48205   CO
 80.00   A2/6 B30/40            $459,540.75    564   Palmdale              CA-S    93550   CO
 80.00   A2/6                   $276,391.15    693   West Warwick          RI       2893   P
 80.00   A2/6                   $218,221.87    571   Clementon             NJ       8021   CO
 80.00   A2/6                   $200,605.40    558   Clarkston             MI      48346   RT
 80.00   A2/6                   $135,837.67    579   Round Lake            IL      60073   CO
 80.00   IOA2/6                 $264,000.00    688   Woodbridge            VA      22192   P
 80.00   IOA2/6                 $294,400.00    647   Chicago               IL      60639   RT
 80.00   A2/6 B30/40            $387,973.85    599   Ceres                 CA-N    95307   P
 80.00   A2/6 B30/40            $331,738.36    644   Antioch               CA-N    94509   CO
 80.00   A2/6 B30/40            $207,860.01    578   Orlando               FL      32817   CO
 80.00   A2/6 B30/40            $267,816.54    569   San Bernardino        CA-S    92407   CO
 80.00   A3/6                   $239,588.80    581   Hialeah               FL      33010   CO
 80.00   A3/6                   $235,733.04    548   Apopka                FL      32712   CO
 80.00   IOA3/6                 $216,000.00    608   Lancaster             CA-S    93534   CO
 80.00   A3/6 B30/40            $159,759.19    694   Mcminnville           OR      97128   CO
 80.00   A2/6                   $106,277.12    516   Nogales               AZ      85621   CO
 80.00   A2/6 B30/40            $263,903.66    533   Stockton              CA-N    95205   CO
 80.00   A3/6                   $103,098.08    510   Loves Park            IL      61111   RT
 80.00   A3/6                   $131,874.76    564   Gwynn Oak             MD      21207   CO
 80.00   A3/6 B30/40            $247,809.95    687   Lake Worth            FL      33461   P
 80.00   A2/6                   $208,810.30    667   Palm Coast            FL      32164   P
 80.00   A2/6                   $142,431.95    637   Connersville          IN      47331   CO
 80.00   A3/6 B30/40            $194,105.42    642   Ontario               CA-S    91761   P
 80.00   IOA2/6                 $214,400.00    607   Stone Mountain        GA      30087   RT
 80.00   IOA5/6                 $320,000.00    656   Compton               CA-S    90220   P
 80.00   F30                    $ 91,851.83    504   Tucson                AZ      85706   CO
 80.00   A3/6 B30/40            $319,567.90    533   Rialto                CA-S    92376   CO
 80.00   A3/6 B30/40            $255,827.22    560   Las Vegas             NV      89109   CO
 80.00   IOA2/6                 $230,400.00    613   Methuen               MA       1844   P
 80.00   IOA2/6                 $408,000.00    627   Lancaster             CA-S    93536   P
 80.00   A2/6                   $200,615.81    726   Montague              NJ       7827   P
 80.00   A2/6                   $303,641.58    689   Hyattsville           MD      20781   CO
 80.00   A2/6                   $ 69,517.93    608   Moore                 SC      29369   P
 80.00   A2/6                   $ 85,879.02    615   El Paso               TX      79938   P
 80.00   A2/6                   $ 92,297.62    609   Independence          MO      64055   P
 80.00   A2/6                   $119,877.04    650   Kingston Springs      TN      37082   P
 80.00   A5/6                   $155,742.99    636   Portland              OR      97230   P
 80.00   A2/6                   $ 31,973.32    584   Atlanta               IN      46031   P
 80.00   A2/6                   $ 47,967.07    593   Reading               PA      19604   CO
 80.00   B30/40                 $129,111.80    642   Wichita Falls         TX      76309   P
 80.00   A2/6                   $411,588.79    670   Purcellville          VA      20132   P
 80.00   A2/6                   $151,673.87    640   Albuquerque           NM      87111   P
 80.00   A2/6                   $111,857.40    654   Wyandotte             MI      48192   CO
 80.00   A2/6                   $127,796.29    512   Gonzales              LA      70737   P
 80.00   A2/6                   $193,223.42    613   Atlanta               GA      30331   P
 80.00   A2/6                   $100,289.89    603   Independence          MO      64056   P
 80.00   A2/6                   $131,873.01    619   Norman                OK      73072   P
 80.00   IOA2/6                 $551,200.00    690   Lincoln               CA-N    95648   CO
 80.00   A2/6                   $ 75,148.69    520   Houma                 LA      70360   P
 80.00   IOA2/6                 $219,200.00    637   Vancouver             WA      98684   P
 80.00   A2/6                   $182,224.52    626   Grapevine             TX      76051   CO
 80.00   A2/6                   $121,438.73    733   Edmond                OK      73003   P
 80.00   A2/6                   $ 71,836.93    603   Monticello            IN      47960   P
 80.00   A2/6                   $108,580.86    616   Cordova               TN      38018   P
 80.00   F30                    $118,082.40    615   Soddy Daisy           TN      37379   P
 80.00   A2/6                   $137,425.69    600   Ocala                 FL      34473   P
 80.00   A2/6                   $ 76,617.72    607   Minot                 ND      58703   P
 80.00   IOA2/6                 $ 80,800.00    618   Kutztown              PA      19530   P
 80.00   A2/6 B30/40            $239,864.99    642   Riverton              UT      84065   P
 80.00   IOA2/6                 $368,000.00    658   Peoria                AZ      85381   P
 80.00   A2/6                   $102,183.62    611   Richmond              TX      77469   P
 80.00   B30/40                 $187,907.24    660   Rhoadesville          VA      22542   P
 80.00   A2/6                   $256,487.76    587   Memphis               TN      38112   CO
 80.00   IOA2/6                 $157,360.00    659   Sierra Vista          AZ      85650   P
 80.00   F30                    $ 99,861.20    680   Wichita Falls         TX      76310   CO
 80.00   F30                    $ 61,552.64    501   Tupelo                MS      38804   P
 80.00   A2/6                   $262,059.02    610   Tulsa                 OK      74133   P
 80.00   F30                    $227,667.23    623   Everett               WA      98201   CO
 80.00   F30                    $187,729.71    587   Alabaster             AL      35007   CO
 80.00   A2/6                   $200,248.47    623   Jackson               MI      49201   P
 80.00   A2/6                   $ 91,897.52    552   Caldwell              ID      83605   P
 80.00   A2/6                   $129,364.19    660   Salem                 OR      97306   P
 80.00   IOA2/6                 $193,433.00    623   Buckeye               AZ      85326   P
 80.00   A2/6                   $231,674.75    608   Philadelphia          PA      19111   P
 80.00   A2/6                   $111,790.07    765   Salem                 OR      97303   P
 80.00   A2/6                   $158,235.13    555   Kingsport             TN      37663   CO
 80.00   A2/6                   $ 87,905.49    609   Eden                  NC      27288   P
 80.00   F30                    $103,892.31    535   Chicago               IL      60628   RT
 80.00   A2/6                   $ 95,900.08    723   Norman                OK      73069   P
 80.00   A2/6                   $ 73,514.98    603   Nampa                 ID      83651   P
 80.00   A2/6                   $ 99,901.22    678   Boise                 ID      83709   P
 80.00   IOA2/6                 $163,200.00    656   Beaverton             OR      97006   P
 80.00   A2/6                   $615,292.26    657   Placida               FL      33946   CO
 80.00   A2/6                   $113,442.88    653   San Antonio           TX      78245   P
 80.00   A2/6                   $109,841.80    557   York                  PA      17402   P
 80.00   A2/6                   $ 66,307.29    522   Johnson City          TN      37601   P
 80.00   A2/6                   $203,710.60    573   Rathdrum              ID      83858   CO
 80.00   IOA2/6                 $368,000.00    653   Albuquerque           NM      87112   P
 80.00   A2/6                   $115,684.14    667   Elwood                IN      46036   P
 80.00   IOA2/6                 $360,000.00    665   Snellville            GA      30039   P
 80.00   A2/6                   $ 39,955.37    559   Great Bend            KS      67530   CO
 80.00   F30                    $100,904.73    627   Laredo                TX      78046   P
 80.00   A2/6                   $318,805.68    598   Santa Ana             CA-S    92707   P
 80.00   A2/6                   $171,748.54    596   Brunswick             MD      21716   P
 80.00   A2/6                   $ 97,369.53    647   Watervliet            NY      12189   P
 80.00   IOA2/6                 $146,400.00    636   Kuna                  ID      83634   P
 80.00   F30                    $156,309.95    668   Wilmington            NC      28412   CO
 80.00   F30                    $ 50,292.48    623   Spartanburg           SC      29303   CO
 80.00   A2/6                   $110,233.97    597   Summerfield           FL      34491   CO
 80.00   A2/6                   $339,789.75    775   Jamaica               NY      11433   CO
 80.00   A2/6                   $315,687.90    551   Deerfield Beach       FL      33442   P
 80.00   A2/6                   $123,931.56    514   New Britain           CT       6051   CO
 80.00   A2/6 B30/40            $284,718.18    618   Naples                FL      34116   CO
 80.00   A2/6                   $194,321.91    538   Warwick               RI       2888   CO
 80.00   A2/6                   $246,265.13    685   North Kingstown       RI       2852   P
 80.00   A5/6                   $194,412.53    724   Sierra Vista          AZ      85650   P
 80.00   A2/6 B30/40            $179,351.21    601   Philadelphia          PA      19147   CO
 80.00   A2/6                   $ 84,684.66    599   Temple                TX      76502   P
 80.00   A2/6 B30/40            $451,862.83    661   Brooklyn              NY      11236   P
 80.00   IOA2/6                 $220,000.00    725   Miami                 FL      33165   P
 80.00   IOA2/6                 $246,400.00    622   Modesto               CA-N    95351   P
 80.00   A2/6 B30/40            $723,539.76    694   Los Angeles           CA-S    90010   CO
 80.00   IOA2/6                 $175,920.00    673   Lehigh Acres          FL      33972   P
 80.00   A2/6 B30/40            $151,826.81    711   Imperial              CA-S    92275   P
 80.00   A2/6                   $359,640.79    727   Orlando               FL      32832   P
 80.00   IOA2/6                 $352,000.00    608   Alexandria            VA      22309   P
 80.00   A2/6 B30/40            $159,896.07    597   Bremerton             WA      98337   P
 80.00   A2/6 B30/40            $283,828.30    732   San Juan Capistrano   CA-S    92675   P
 80.00   A2/6                   $263,737.85    639   Round Rock            TX      78664   P
 80.00   A2/6                   $ 79,890.65    617   Marion                AR      72364   P
 80.00   A2/6                   $259,701.27    712   Miami                 FL      33168   P
 80.00   A2/6 B30/40            $699,609.11    694   Mission Viejo         CA-S    92692   P
 80.00   A2/6 B30/40            $ 83,977.78    603   Memphis               TN      38128   P
 80.00   A2/6                   $311,678.64    551   Albuquerque           NM      87102   CO
 80.00   A2/6 B30/40            $439,743.39    581   King George           VA      22485   P
 80.00   A2/6                   $119,834.78    636   Bellevue              NE      68005   CO
 80.00   A2/6 B30/40            $198,376.20    532   Tampa                 FL      33613   CO
 80.00   A2/6                   $239,847.11    638   Cold Springs          NV      89506   P
 80.00   A2/6                   $363,622.74    692   Colleyville           TX      76034   P
 80.00   A2/6 B30/40            $315,531.33    660   Sacramento            CA-N    95819   P
 80.00   IOA2/6                 $322,320.00    655   Windsor Mill          MD      21244   P
 80.00   A2/6 B30/40            $575,644.17    638   Burbank               CA-S    91505   P
 80.00   A2/6                   $392,209.28    620   Ottsville             PA      18942   P
 80.00   IOA2/6                 $616,920.00    624   San Diego             CA-S    92103   P
 80.00   IOA2/6                 $239,436.00    616   Bellingham            WA      98229   P
 80.00   A2/6                   $ 94,161.82    672   Byron                 GA      31008   P
 80.00   IOA2/6                 $546,080.00    646   Ladera Ranch          CA-S    92694   P
 80.00   A2/6                   $197,877.56    549   Girard                OH      44420   CO
 80.00   A2/6                   $219,798.20    534   El Paso               TX      79925   RT
 80.00   A3/6 B30/40            $318,248.56    626   Marblehead            MA       1945   CO
 80.00   A2/6                   $264,041.93    740   Las Vegas             NV      89178   P
 80.00   A2/6                   $202,243.14    781   Kissimmee             FL      34758   P
 80.00   IOA2/6                 $380,000.00    655   Baldwin Park          CA-S    91706   RT
 80.00   A2/6 B30/40            $197,941.73    502   Chandler              AZ      85225   CO
 80.00   IOA2/6                 $396,000.00    656   La Puente             CA-S    91744   CO
 80.00   A2/6 B30/40            $595,581.44    611   Torrance              CA-S    90505   P
 80.00   IOA2/6                 $170,400.00    675   Danville              IL      61832   P
 80.00   A2/6 B30/40            $271,827.09    595   Grass Valley          CA-N    95945   CO
 80.00   A2/6 B30/40            $291,874.40    554   Coarsegold            CA-N    93614   CO
 80.00   A2/6 B30/40            $ 60,769.77    632   Lakewood              CO      80232   P
 80.00   A3/6 B30/40            $ 99,967.74    584   Spokane               WA      99207   CO
 80.00   A2/6                   $319,485.22    691   Washington            DC      20018   P
 80.00   IOA2/6                 $244,000.00    603   Cumberland            RI       2864   CO
 80.00   A2/6 B30/40            $495,852.31    657   Hawthorne             CA-S    90250   P
 80.00   A2/6                   $127,821.43    580   Woodbury              NJ       8096   CO
 80.00   IOA2/6                 $447,120.00    623   Hollister             CA-N    95023   P
 80.00   IOA2/6                 $ 85,600.00    640   Gloucester            NJ       8030   P
 80.00   A2/6                   $121,428.83    617   Whitehouse            TX      75791   P
 80.00   A2/6 B30/40            $534,787.72    669   Hauula                HI      96717   P
 80.00   A2/6                   $ 64,464.59    502   Jesup                 GA      31545   CO
 80.00   A2/6 B30/40            $260,303.54    619   Las Vegas             NV      89131   P
 80.00   A2/6 B30/40            $743,275.94    621   Los Angeles           CA-S    90027   CO
 80.00   A2/6                   $235,604.27    662   Berryville            VA      22611   P
 80.00   A2/6 B30/40            $311,814.07    644   Pomona                CA-S    91768   P
 80.00   A2/6 B30/40            $228,563.86    678   Apollo                PA      15613   P
 80.00   A2/6                   $100,702.51    658   Janesville            WI      53546   P
 80.00   A2/6                   $263,624.25    681   Terra Bella           CA-S    93270   P
 80.00   A2/6                   $598,492.94    591   Milton                MA       2186   CO
 80.00   A2/6                   $ 75,095.09    638   De Soto               MO      63020   CO
 80.00   A2/6 B30/40            $379,779.98    512   Clinton               MD      20735   CO
 80.00   A2/6 B30/40            $335,720.80    595   Moreno Valley         CA-S    92553   P
 80.00   A2/6 B30/40            $224,708.15    635   Old Hickory           TN      37138   CO
 80.00   A2/6 B30/40            $175,896.84    597   Deerfield Beach       FL      33441   P
 80.00   A2/6 B30/40            $391,773.02    792   Palmdale              CA-S    93551   P
 80.00   IOA2/6                 $153,600.00    599   Colorado Springs      CO      80909   P
 80.00   A2/6 B30/40            $175,924.28    505   Fresno                CA-N    93702   CO
 80.00   IOA2/6                 $185,592.47    619   Alpharetta            GA      30022   CO
 80.00   IOA2/6                 $290,400.00    645   Newark                NJ       7104   CO
 80.00   IOA3/6                 $228,000.00    666   Miami Gardens         FL      33056   P
 80.00   A2/6                   $159,855.55    661   Gravois Mills         MO      65037   P
 80.00   A2/6                   $471,020.20    662   Pomona                CA-S    91766   P
 80.00   A2/6                   $152,663.94    589   Springfield           MA       1151   CO
 80.00   A2/6                   $ 63,111.83    611   San Antonio           TX      78245   P
 80.00   A2/6 B30/40            $154,355.43    500   College Park          GA      30349   CO
 80.00   A2/6                   $131,843.56    771   Upper Darby           PA      19082   P
 80.00   A2/6                   $115,856.02    617   Lewiston              ID      83501   P
 80.00   A2/6                   $111,936.88    575   Long Beach            MS      39560   CO
 80.00   A2/6                   $203,751.94    693   Las Vegas             NV      89110   P
 80.00   A2/6 B30/40            $579,754.93    689   San Francisco         CA-N    94112   CO
 80.00   A2/6                   $ 59,913.72    687   Cuba                  MO      65453   P
 80.00   A2/6                   $275,561.61    778   Davenport             FL      33837   P
 80.00   A2/6 B30/40            $219,844.39    679   Lancaster             CA-S    93535   P
 80.00   A2/6 B30/40            $335,882.79    533   Boynton Beach         FL      33437   CO
 80.00   IOA2/6                 $478,000.00    608   Anaheim               CA-S    92801   P
 80.00   A2/6 B30/40            $667,677.62    573   Concord               CA-N    94521   CO
 80.00   IOA2/6                 $280,000.00    633   Redlands              CA-S    92374   P
 80.00   A2/6                   $ 65,894.12    648   Pontiac               MI      48342   P
 80.00   A2/6 B30/40            $187,953.10    673   Justice               IL      60458   P
 80.00   A2/6                   $ 95,920.92    672   Esperance             NY      12066   P
 80.00   IOA2/6                 $337,440.00    701   San Diego             CA-S    92101   P
 80.00   IOA2/6                 $377,788.00    713   Indio                 CA-S    92203   P
 80.00   IOA2/6                 $251,199.99    626   Fort Lauderdale       FL      33311   P
 80.00   A2/6 B30/40            $263,060.31    655   San Bernardino        CA-S    92404   P
 80.00   IOA2/6                 $412,000.00    768   Lakewood              CA-S    90715   P
 80.00   A2/6                   $307,572.51    681   Cushing               MN      56443   P
 80.00   IOA2/6                 $238,618.00    652   Laveen                AZ      85339   P
 80.00   A2/6                   $199,248.92    580   Spring                TX      77339   P
 80.00   IOA3/6                 $132,000.00    733   Faribault             MN      55021   P
 80.00   IOA2/6                 $ 76,800.00    637   Knoxville             TN      37920   P
 80.00   A2/6                   $ 70,736.96    599   Searcy                AR      72143   P
 80.00   A2/6 B30/40            $105,830.22    682   Houston               TX      77047   P
 80.00   A2/6                   $119,850.97    525   Independence          MO      64056   CO
 80.00   A2/6 B30/40            $138,365.98    624   Colorado Springs      CO      80911   P
 80.00   A2/6                   $207,732.19    630   Framingham            MA       1702   P
 80.00   A2/6                   $ 91,892.08    631   Houston               TX      77084   P
 80.00   A2/6 B30/40            $218,264.12    653   Atwater               CA-N    95301   P
 80.00   A3/6 B30/40            $140,753.39    596   South Holland         IL      60473   CO
 80.00   A2/6 B30/40            $147,140.62    623   Little Rock           AR      72204   P
 80.00   A2/6 B30/40            $ 73,587.09    745   Denver                CO      80237   P
 80.00   IOA2/6                 $289,600.00    711   Redding               CA-N    96003   P
 80.00   A2/6                   $ 71,899.57    668   Williamsburg          VA      23185   P
 80.00   A3/6 B30/40            $254,213.63    607   Ft. Lauderdale        FL      33312   CO
 80.00   IOA2/6                 $238,400.00    697   Alpharetta            GA      30022   P
 80.00   A2/6 B30/40            $743,439.32    638   San Jose              CA-N    95148   CO
 80.00   IOA2/6                 $356,000.00    726   Waianae               HI      96792   P
 80.00   IOA2/6                 $225,600.00    616   Las Vegas             NV      89123   P
 80.00   IOA2/6                 $328,308.80    629   Jackson               NJ       8527   P
 80.00   A2/6                   $180,898.64    633   Ashippun              WI      53066   P
 80.00   IOA2/6                 $447,960.00    608   Streamwood            IL      60107   P
 80.00   A2/6                   $ 69,274.35    634   Avis                  PA      17721   P
 80.00   A2/6                   $130,477.99    648   Orange City           FL      32763   P
 80.00   A2/6 B30/40            $214,331.71    610   South Lake Tahoe      CA-N    96150   RT
 80.00   A2/6                   $176,089.95    724   Murphy                TX      75094   P
 80.00   IOA2/6                 $216,000.00    610   Phoenix               AZ      85022   P
 80.00   IOA2/6                 $240,000.00    758   San Jacinto           CA-S    92582   P
 80.00   A3/6 B30/40            $179,067.79    724   Killingly             CT       6243   RT
 80.00   IOA3/6                 $518,000.00    632   Los Angeles           CA-S    90027   P
 80.00   IOA2/6                 $192,000.00    691   Las Vegas             NV      89128   P
 80.00   A2/6                   $ 59,911.10    725   Utica                 NY      13501   P
 80.00   A2/6 B30/40            $719,487.18    640   Pompano Beach         FL      33062   P
 80.00   A2/6 B30/40            $195,008.94    702   Higley                AZ      85236   P
 80.00   A2/6                   $110,604.75    596   Neenah                WI      54956   CO
 80.00   A2/6                   $282,080.53    562   Compton               CA-S    90220   RT
 80.00   A2/6                   $159,870.89    583   Chicago               IL      60626   CO
 80.00   A2/6                   $119,837.60    702   Ann Arbor             MI      48108   P
 80.00   IOA2/6                 $300,000.00    614   Dorchester            MA       2124   P
 80.00   A2/6                   $ 50,340.57    599   Philadelphia          PA      19140   P
 80.00   IOA2/6                 $176,000.00    704   Lehigh Acres          FL      33971   P
 80.00   IOA2/6                 $368,000.00    777   Oakland               CA-N    94603   P
 80.00   A2/6                   $111,862.41    611   Seymour               TN      37865   P
 80.00   IOA3/6                 $396,000.00    683   Carson Area           CA-S    90745   CO
 80.00   A2/6                   $ 91,898.38    518   El Paso               TX      79936   CO
 80.00   A2/6 B30/40            $399,765.04    661   San Diego             CA-S    92173   P
 80.00   IOA2/6                 $352,000.00    658   Woodland              CA-N    95776   P
 80.00   IOA2/6                 $285,600.00    680   Lancaster             CA-S    93534   P
 80.00   A2/6 B30/40            $151,905.42    655   Colorado Springs      CO      80909   CO
 80.00   A2/6                   $365,458.30    741   Waikoloa              HI      96738   P
 80.00   A2/6 B30/40            $451,722.77    725   Los Angeles           CA-S    91303   P
 80.00   A2/6 B30/40            $ 79,965.58    589   Bellevue              KY      41073   CO
 80.00   IOA2/6                 $224,000.00    661   Los Angeles           CA-S    90016   P
 80.00   A2/6 B30/40            $312,584.45    649   Coachella             CA-S    92236   P
 80.00   A2/6 B30/40            $311,756.50    642   Saugus                MA       1906   CO
 80.00   A2/6 B30/40            $499,859.87    607   Glendale              CA-S    91202   CO
 80.00   A2/6                   $534,475.72    655   Falls Church          VA      22041   P
 80.00   A2/6                   $143,799.13    671   Phoenix               AZ      85009   P
 80.00   A2/6 B30/40            $283,812.91    709   Santa Maria           CA-S    93455   P
 80.00   A2/6 B30/40            $323,813.22    585   Garden Grove          CA-S    92845   CO
 80.00   A2/6                   $155,836.78    658   Minnesota City        MN      55959   P
 80.00   A2/6                   $250,990.67    519   North Lauderdale      FL      33068   CO
 80.00   A2/6 B30/40            $659,592.29    603   Santa Barbara         CA-S    93103   CO
 80.00   A2/6 B30/40            $279,028.75    701   Sacramento            CA-N    95838   P
 80.00   IOA2/6                 $ 98,800.00    602   Effingham             SC      29541   P
 80.00   A2/6                   $222,899.46    694   Brandon               FL      33510   P
 80.00   A2/6                   $162,154.54    706   Pahala                HI      96777   P
 80.00   A2/6                   $ 67,323.83    606   Georgetown            TX      78626   P
 80.00   A2/6 B30/40            $771,329.88    744   Northridge            CA-S    91326   P
 80.00   A2/6 B30/40            $ 52,793.61    507   Memphis               TN      38111   P
 80.00   A3/6 B30/40            $145,527.10    600   Saginaw               MI      48603   P
 80.00   IOA2/6                 $128,000.00    653   Parma                 OH      44129   RT
 80.00   IOA2/6                 $195,200.00    662   Redmond               OR      97756   P
 80.00   A2/6 B30/40            $107,968.15    638   Springfield           MA       1109   CO
 80.00   IOA2/6                 $111,472.00    716   Manor                 TX      78653   P
 80.00   A2/6 B30/40            $140,745.98    626   Ocala                 FL      34473   CO
 80.00   IOA2/6                 $342,400.00    716   Pittsburg             CA-N    94565   P
 80.00   IOA2/6                 $439,920.00    627   Santa Ana             CA-S    92707   P
 80.00   A3/6 B30/40            $179,919.28    715   Providence            RI       2907   P
 80.00   IOA2/6                 $375,920.00    600   Las Vegas             NV      89130   P
 80.00   A2/6                   $145,446.04    555   Otisville             MI      48463   CO
 80.00   A2/6 B30/40            $119,919.81    619   Salt Lake City        UT      84104   RT
 80.00   IOA3/6                 $400,000.00    600   Bakersfield           CA-S    93312   P
 80.00   A2/6                   $ 59,925.52    604   San Antonio           TX      78242   P
 80.00   A2/6 B30/40            $187,954.46    630   Chicago               IL      60643   P
 80.00   IOA2/6                 $503,905.71    734   Jamaica               NY      11436   P
 80.00   A2/6 B30/40            $103,899.55    628   Fort Myers            FL      33916   P
 80.00   A2/6 B30/40            $215,857.70    750   San Diego             CA-S    92111   P
 80.00   A2/6 B30/40            $135,956.91    595   Hialeah               FL      33016   P
 80.00   IOA2/6                 $272,000.00    605   Springboro            OH      45066   RT
 80.00   A2/6                   $222,909.96    655   Wareham               MA       2571   P
 80.00   IOA2/6                 $260,000.00    636   Chula Vista           CA-S    91910   P
 80.00   A2/6                   $115,806.47    583   Sarasota              FL      34234   CO
 80.00   A2/6                   $104,648.74    730   Houston               TX      77085   P
 80.00   A2/6                   $ 88,917.03    787   Hazleton              PA      18201   P
 80.00   A2/6 B30/40            $313,341.81    600   Highland              NY      12528   P
 80.00   A2/6                   $ 64,369.64    591   Cheektowaga           NY      14226   P
 80.00   A2/6 B30/40            $463,104.66    658   Gardena               CA-S    90249   P
 80.00   A2/6                   $247,650.56    705   Madera                CA-N    93637   P
 80.00   IOA2/6                 $432,000.00    627   Concord               CA-N    94520   P
 80.00   A2/6                   $195,829.52    648   Kittery Point         ME       3905   RT
 80.00   A2/6 B30/40            $175,946.97    554   Miami                 FL      33169   CO
 80.00   A2/6                   $154,138.05    679   Beaumont              TX      77706   P
 80.00   A2/6 B30/40            $327,864.46    753   San Diego             CA-S    92108   P
 80.00   IOA2/6                 $391,920.00    789   Oxnard                CA-S    93030   P
 80.00   A2/6 B30/40            $227,900.75    507   Meridian              ID      83642   CO
 80.00   IOA2/6                 $480,000.00    620   Koloa                 HI      96756   P
 80.00   A2/6 B30/40            $147,976.59    515   Orange                NJ       7050   CO
 80.00   A2/6                   $218,909.31    643   Medford               OR      97501   P
 80.00   IOA2/6                 $128,000.00    613   West Wardsboro        VT       5360   P
 80.00   A2/6 B30/40            $163,971.60    586   Henderson             NV      89015   CO
 80.00   A2/6 B30/40            $165,468.66    531   West Springfield      MA       1089   CO
 80.00   A3/6                   $121,506.54    606   Lithia Sprgs          GA      30122   P
 80.00   IOA2/6                 $270,160.00    738   Sacramento            CA-N    95829   P
 80.00   A2/6 B30/40            $153,552.68    547   Thornton              CO      80229   P
 80.00   A2/6                   $171,679.64    542   Indianapolis          IN      46268   P
 80.00   A2/6                   $ 59,872.76    635   Louisville            KY      40215   CO
 80.00   A2/6 B30/40            $111,100.30    610   Machesney Park        IL      61115   CO
 80.00   A2/6                   $ 95,891.12    597   Northern Cambria      PA      15714   CO
 80.00   A2/6 B30/40            $408,945.39    687   Lemon Grove           CA-S    91945   CO
 80.00   A2/6                   $122,256.42    605   Kingsport             TN      37660   P
 80.00   A2/6 B30/40            $500,169.75    771   Kapolei               HI      96707   P
 80.00   A2/6                   $ 67,954.37    505   Macon                 GA      31206   CO
 80.00   IOA2/6                 $272,000.00    628   Las Vegas             NV      89130   P
 80.00   A2/6 B30/40            $251,851.97    692   Stockton              CA-N    95210   P
 80.00   A2/6 B30/40            $239,536.63    662   Fair Oaks             CA-N    95628   P
 80.00   A3/6 B30/40            $281,411.82    789   Puyallup              WA      98371   P
 80.00   A2/6 B30/40            $539,884.30    567   Granada Hills Area    CA-S    91344   CO
 80.00   IOA2/6                 $384,000.00    606   Elk Grove             CA-N    95758   P
 80.00   A2/6 B30/40            $126,170.21    546   Spring                TX      77388   P
 80.00   A2/6                   $130,710.89    614   Montgomery            IL      60538   P
 80.00   A2/6 B30/40            $184,635.35    737   Saint Cloud           FL      34769   P
 80.00   A3/6 B30/40            $111,170.60    550   Columbus              GA      31907   CO
 80.00   A2/6                   $193,611.44    610   Cape Coral            FL      33909   P
 80.00   IOA2/6                 $285,600.00    589   Richmond              CA-N    94801   P
 80.00   IOA2/6                 $267,920.00    609   Indio                 CA-S    92201   P
 80.00   A2/6 B30/40            $319,904.96    641   Queens Village        NY      11429   P
 80.00   IOA2/6                 $276,720.00    658   Santa Ana             CA-S    92701   P
 80.00   A2/6 B30/40            $207,080.54    646   Phoenix               AZ      85021   P
 80.00   A2/6                   $131,054.63    636   El Paso               TX      79902   P
 80.00   A2/6 B30/40            $439,675.36    628   Dorchester            MA       2124   P
 80.00   A2/6 B30/40            $ 79,610.61    613   Tigard                OR      97223   CO
 80.00   A2/6 B30/40            $147,980.22    567   Davison               MI      48423   CO
 80.00   A2/6 B30/40            $279,815.53    621   La Puente             CA-S    91744   P
 80.00   A2/6 B30/40            $207,950.35    550   Waterford             CT       6385   P
 80.00   A2/6                   $492,136.46    588   Little Rock           AR      72227   P
 80.00   A2/6 B30/40            $112,769.95    594   Springfield           MA       1104   P
 80.00   A2/6                   $129,421.58    594   Pooler                GA      31322   P
 80.00   A2/6                   $152,570.22    587   Deltona               FL      32738   CO
 80.00   A2/6                   $ 76,667.82    533   Irving                TX      75061   CO
 80.00   A3/6                   $240,583.76    673   Atlanta               GA      30349   P
 80.00   A2/6 B30/40            $675,594.78    732   Rancho Cucamonga      CA-S    91739   P
 80.00   A2/6                   $180,932.88    625   Portland              OR      97236   P
 80.00   IOA2/6                 $144,000.00    645   Dearborne Heights     MI      48127   RT
 80.00   IOA3/6                 $246,400.00    715   Glen Burnie           MD      21061   RT
 80.00   A2/6 B30/40            $ 83,967.04    515   Milwaukee             WI      53208   P
 80.00   A2/6                   $130,947.86    693   Stone Mountain        GA      30083   P
 80.00   A3/6 B30/40            $356,510.91    657   Murrieta              CA-S    92563   CO
 80.00   A2/6 B30/40            $447,866.95    759   Brooklyn              NY      11234   P
 80.00   A2/6                   $231,717.91    636   Chicago               IL      60632   P
 80.00   A2/6                   $307,563.83    663   Copiague              NY      11726   P
 80.00   A2/6                   $127,665.89    707   Leominster            MA       1453   P
 80.00   A2/6 B30/40            $319,015.99    634   Riverhead             NY      11901   CO
 80.00   IOA3/6                 $194,400.00    689   Deltona               FL      32738   CO
 80.00   F30                    $ 95,144.08    662   Hoffman Estates       IL      60194   RT
 80.00   A3/6 B30/40            $198,111.19    528   Chimacum              WA      98325   P
 80.00   F30                    $650,759.48    782   Bronx                 NY      10465   P
 80.00   A2/6 B30/40            $141,867.88    674   Porterville           CA-S    93257   P
 80.00   A3/6 B30/40            $155,907.70    660   Peoria                AZ      85345   P
 80.00   IOA3/6                 $180,000.00    761   Goodyear              AZ      85338   P
 80.00   F30                    $107,085.46    588   Fort Worth            TX      76110   P
 80.00   A2/6 B30/40            $131,958.07    554   Somonauk              IL      60552   CO
 80.00   A3/6 B30/40            $171,914.50    597   Sierra Vista          AZ      85635   P
 80.00   F30                    $123,842.10    532   Nevada                TX      75173   CO
 80.00   F30                    $ 58,308.45    516   Gainesville           TX      76240   CO
 80.00   A2/6 B30/40            $203,951.31    641   Cicero                IL      60804   P
 80.00   A3/6                   $207,740.51    639   Homestead             FL      33032   P
 80.00   A2/6 B30/40            $ 71,110.34    579   Escanaba              MI      49829   CO
 80.00   F30                    $ 75,905.18    560   Newberry              MI      49868   CO
 80.00   A3/6 B30/40            $ 76,216.48    664   Syracuse              NY      13208   P
 80.00   F30                    $ 51,950.74    563   Baytown               TX      77520   CO
 80.00   F30                    $ 91,067.85    504   Hobart                IN      46342   CO
 80.00   A2/6 B30/40            $291,810.90    585   Las Vegas             NV      89117   CO
 80.00   A2/6                   $ 55,949.70    554   Palestine             TX      75803   CO
 80.00   A2/6                   $171,758.37    662   Corona                NY      11368   P
 80.00   A2/6 B30/40            $165,493.96    699   Wenatchee             WA      98801   P
 80.00   A2/6                   $519,353.01    761   Chicago               IL      60645   P
 80.00   A2/6 B30/40            $214,261.15    655   Shafter               CA-S    93263   CO
 80.00   A2/6                   $159,838.57    509   Frisco                TX      75035   CO
 80.00   A2/6                   $200,254.55    785   New Paltz             NY      12561   P
 80.00   IOA2/6                 $176,000.00    645   Phoenix               AZ      85037   CO
 80.00   A2/6                   $209,297.75    665   Berwyn                IL      60402   P
 80.00   A3/6 B30/40            $228,734.27    675   Denver                CO      80249   P
 80.00   F30                    $127,927.11    534   Silverlake            WA      98645   CO
 80.00   F10                    $ 84,695.68    631   Houston               TX      77087   CO
 80.00   A3/6 B30/40            $111,941.82    637   Denver                CO      80239   P
 80.00   A2/6                   $339,309.63    669   Hightstown            NJ       8520   P
 80.00   A3/6 B30/40            $287,860.58    644   Miami                 FL      33177   P
 80.00   A2/6                   $303,124.15    597   Surprise              AZ      85379   P
 80.00   IOA2/6                 $356,640.00    658   South Ozone Park      NY      11420   P
 80.00   A2/6                   $ 97,498.40    631   Chazy                 NY      12921   P
 80.00   A3/6 B30/40            $423,708.49    651   Chula Vista           CA-S    91910   P
 80.00   IOA5/6                 $180,000.00    700   Portland              OR      97217   P
 80.00   A2/6                   $131,799.48    690   Atlanta               GA      30324   P
 80.00   F30                    $ 91,469.90    651   Newstead              NY      14004   P
 80.00   IOA2/6                 $440,000.00    678   Los Angeles           CA-S    90016   P
 80.00   A2/6 B30/40            $143,875.06    620   Keizer                OR      97303   CO
 80.00   A2/6 B30/40            $143,878.76    703   Chicago               IL      60618   P
 80.00   A3/6                   $119,791.73    611   Adrian                MI      49221   CO
 80.00   IOA2/6                 $167,991.56    733   Albany                NY      12202   P
 80.00   IOA2/6                 $400,000.00    740   San Leandro           CA-N    94577   P
 80.00   A3/6 B30/40            $111,956.74    577   Cleveland             OH      44130   CO
 80.00   A2/6 B30/40            $407,516.30    694   Elmont                NY      11003   P
 80.00   A2/6 B30/40            $377,818.90    603   Lake Stevens          WA      98258   P
 80.00   A3/6 B30/40            $267,741.80    612   Miami                 FL      33193   P
 80.00   A3/6                   $ 98,913.94    653   Monticello            NY      12701   P
 80.00   A2/6                   $239,633.62    668   Naperville            IL      60563   P
 80.00   IOA2/6                 $318,000.00    703   Central Islip         NY      11722   P
 80.00   A3/6                   $383,481.92    652   Bronx                 NY      10453   P
 80.00   A3/6                   $107,868.64    611   Indianapolis          IN      46226   CO
 80.00   A2/6                   $135,809.32    652   Blue Island           IL      60406   CO
 80.00   A2/6                   $259,742.66    508   Lakewood              WA      98498   CO
 80.00   A2/6 B30/40            $141,533.01    505   Belton                MO      64012   CO
 80.00   A3/6 B30/40            $251,865.28    641   Yuba City             CA-N    95991   P
 80.00   A2/6 B30/40            $339,835.91    615   Stoughton             MA       2702   CO
 80.00   IOA3/6                 $240,000.00    643   Winter Garden         FL      34787   CO
 80.00   B30/40                 $141,926.79    675   Hollywood             FL      33020   P
 80.00   A2/6 B30/40            $307,724.96    664   Chicago               IL      60639   P
 80.00   A3/6 B30/40            $203,877.71    628   Stockton              CA-N    95210   P
 80.00   A3/6                   $110,196.26    641   Houston               TX      77035   P
 80.00   A2/6                   $117,457.00    684   Constantia            NY      13044   P
 80.00   A2/6                   $223,698.33    645   Chicago               IL      60619   P
 80.00   F30                    $ 35,990.84    520   Kermit                TX      79745   CO
 80.00   A2/6 B30/40            $278,852.80    693   Las Vegas             NV      89108   P
 80.00   A2/6                   $578,965.28    700   Bronx                 NY      10469   P
 80.00   A3/6                   $ 47,924.75    636   Westmoreland          TN      37186   CO
 80.00   B30/40                 $569,149.22    733   Howard Beach          NY      11414   P
 80.00   IOA3/6                 $376,000.00    673   Escondido             CA-S    92027   CO
 80.00   A2/6 B30/40            $210,266.23    712   Phoenix               AZ      85051   P
 80.00   F30                    $287,416.26    605   Rhoadesville          VA      22542   CO
 80.00   A2/6                   $295,639.35    670   Carthage              MO      64836   CO
 80.00   A3/6                   $141,366.72    705   New Orleans           LA      70130   P
 80.00   A2/6                   $ 80,323.05    555   Houston               TX      77080   CO
 80.00   A2/6 B30/40            $335,916.55    644   Rockville             MD      20853   P
 80.00   A3/6 B30/40            $211,985.09    520   Tolleson              AZ      85353   P
 80.00   A3/6 B30/40            $237,924.19    622   New Britain           CT       6053   P
 80.00   IOA3/6                 $388,749.66    687   Stockton              CA-N    95206   P
 80.00   A3/6 B30/40            $ 99,963.05    523   Montesano             WA      98563   CO
 80.00   A2/6 B30/40            $113,551.12    602   Chicago               IL      60628   CO
 80.00   A3/6                   $ 55,974.24    593   Buffalo               NY      14214   P
 80.00   A3/6 B30/40            $333,478.62    508   Avondale              AZ      85323   CO
 80.00   A2/6                   $ 75,093.87    510   Des Moines            IA      50316   CO
 80.00   A2/6 B30/40            $507,455.61    698   Brooklyn              NY      11233   P
 80.00   A2/6                   $ 87,945.30    672   Philadelphia          PA      19120   P
 80.00   A2/6                   $215,642.62    676   Merrimack             NH       3054   P
 80.00   A2/6 B30/40            $339,779.80    600   Santa Fe Springs      CA-S    90670   P
 80.00   A2/6                   $206,200.60    586   Southwick             MA       1077   CO
 80.00   A2/6                   $359,506.79    685   West Hempstead        NY      11552   P
 80.00   A3/6                   $167,762.73    506   Globe                 AZ      85501   CO
 80.00   IOA2/6                 $535,188.00    624   New Rochelle          NY      10804   P
 80.00   B30/40                 $302,138.69    579   Roselle Park          NJ       7204   CO
 80.00   F30                    $121,441.98    658   Kissimmee             FL      34741   CO
 80.00   A2/6 B30/40            $319,804.57    566   Kingston              NY      12401   CO
 80.00   F30                    $ 75,874.50    525   Joshua                TX      76058   CO
 80.00   A2/6                   $251,716.40    662   Somerville            MA       2145   P
 80.00   A2/6                   $303,558.54    697   East Fishkill         NY      12533   P
 80.00   A3/6 B30/40            $186,158.34    643   Clovis                CA-N    93611   P
 80.00   A2/6                   $103,012.65    609   Park Forest           IL      60466   P
 80.00   F30                    $127,902.89    623   Glens Falls           NY      12801   P
 80.00   IOA3/6                 $166,632.00    669   Vancouver             WA      98660   P
 80.00   A2/6 B30/40            $141,533.62    661   Prospect Heights      IL      60070   RT
 80.00   F30                    $101,280.64    656   West Seneca           NY      14224   P
 80.00   A2/6                   $283,422.46    547   Portage               MI      49024   CO
 80.00   A3/6                   $186,195.17    616   Charlotte             NC      28270   CO
 80.00   F15                    $ 51,301.91    736   Jackson               TN      38301   CO
 80.00   A3/6                   $ 57,901.63    631   Salamonia             IN      47381   P
 80.00   A2/6 B30/40            $162,346.41    632   Reedley               CA-N    93654   CO
 80.00   A2/6 B30/40            $239,929.23    717   Chicago               IL      60617   P
 80.00   A2/6 B30/40            $139,893.69    586   Athol                 MA       1331   CO
 80.00   IOA3/6                 $200,000.00    703   Las Vegas             NV      89128   P
 80.00   IOA2/6                 $155,195.73    752   Columbia Heights      MN      55421   P
 80.00   A2/6 B30/40            $423,794.77    716   Country Club Hills    IL      60478   P
 80.00   IOF30                  $336,000.00    674   Central Islip         NY      11722   CO
 80.00   A2/6                   $303,562.95    619   New Lenox             IL      60451   CO
 80.00   A2/6                   $127,789.13    676   Middletown            NY      10940   P
 80.00   A2/6 B30/40            $399,652.95    667   Madison               NJ       7940   P
 80.00   A3/6 B30/40            $271,712.59    752   Santee                CA-S    92071   P
 80.00   A2/6                   $115,059.89    653   Glendale Heights      IL      60139   P
 80.00   A3/6 B30/40            $141,518.21    553   Porterville           CA-S    93257   CO
 80.00   A2/6                   $325,932.45    724   Central Islip         NY      11722   P
 80.00   A3/6 B30/40            $187,091.88    532   Tampa                 FL      33615   P
 80.00   A3/6                   $144,888.73    684   Plainfield            IL      60586   P
 80.00   IOA3/6                 $200,000.00    705   Fresno                CA-N    93706   P
 80.00   A2/6 B30/40            $367,803.25    709   Bronx                 NY      10457   P
 80.00   A2/6 B30/40            $147,936.52    645   Boston                MA       2127   P
 80.00   F30                    $194,871.07    696   Dallas                TX      75252   CO
 80.00   A2/6 B30/40            $209,536.85    720   North Aurora          IL      60542   P
 80.00   A2/6 B30/40            $135,875.52    667   Fresno                CA-N    93706   P
 80.00   F30                    $111,877.15    520   Crosby                TX      77532   CO
 80.00   A3/6                   $101,836.37    745   Stratford             CT       6614   P
 80.00   A2/6                   $235,740.66    692   Newburgh              NY      12550   P
 80.00   A2/6                   $168,610.61    610   Bolingbrook           IL      60440   CO
 80.00   A2/6                   $251,659.99    583   Red Hook              NY      12571   CO
 80.00   F30                    $ 87,043.61    545   Albuquerque           NM      87105   CO
 80.00   A2/6                   $193,311.74    690   Boscawen              NH       3303   P
 80.00   IOA3/6                 $181,600.00    715   Mount Vernon          WA      98274   P
 80.00   A2/6                   $214,045.72    608   Plainfield            IL      60544   P
 80.00   A2/6 B30/40            $139,916.57    615   Fall River            MA       2720   P
 80.00   IOA2/6                 $584,000.00    688   Watsonville           CA-N    95076   P
 80.00   A3/6 B30/40            $167,903.14    682   Northglenn            CO      80233   CO
 80.00   A2/6 B30/40            $174,284.28    709   Cranston              RI       2920   P
 80.00   IOA3/6                 $204,800.00    647   Miami                 FL      33193   P
 80.00   IOA2/6                 $186,686.00    641   Deltona               FL      32738   P
 80.00   A2/6                   $ 91,105.24    611   Ovid                  MI      48866   RT
 80.00   B30/40                 $519,601.50    735   Mount Vernon          NY      10550   P
 80.00   IOA2/6                 $158,400.00    694   Tampa                 FL      33618   P
 80.00   F10                    $ 47,536.05    598   Munford               AL      36268   CO
 80.00   B30/40                 $230,338.62    622   Pompano Beach         FL      33064   CO
 80.00   A3/6                   $191,824.82    502   Sherwood              OR      97140   CO
 80.00   A2/6 B30/40            $381,372.60    680   Brooklyn              NY      11207   P
 80.00   F30                    $247,698.40    630   Commerce City         CO      80022   CO
 80.00   A2/6                   $192,607.57    652   Chicago               IL      60653   P
 80.00   A3/6 B30/40            $275,800.94    673   San Diego             CA-S    92139   P
 80.00   A2/6                   $123,368.61    508   San Angelo            TX      76904   CO
 80.00   A3/6 B30/40            $154,330.14    640   Tampa                 FL      33615   P
 80.00   IOA2/6                 $396,000.00    711   Bronx                 NY      10466   P
 80.00   A3/6                   $199,706.64    682   Philadelphia          PA      19147   CO
 80.00   A2/6                   $231,782.64    521   Colchester            NY      12776   CO
 80.00   IOA2/6                 $180,000.00    675   Schiller Park         IL      60176   CO
 80.00   A3/6 B30/40            $131,948.21    522   Long Pond             PA      18334   CO
 80.00   A2/6 B30/40            $190,305.36    651   Rhododendron          OR      97049   P
 80.00   A2/6 B30/40            $387,770.43    727   Warwick               NY      10990   CO
 80.00   A2/6 B30/40            $111,135.88    637   Arizona City          AZ      85223   P
 80.00   A2/6                   $139,805.69    617   Blacklick             OH      43004   CO
 80.00   IOA2/6                 $136,670.02    650   Sugar Land            TX      77479   P
 80.00   A3/6 B30/40            $ 91,972.91    504   Owensville            MO      65066   CO
 80.00   A2/6 B30/40            $287,813.99    667   Elmwood Park          IL      60707   P
 80.00   F30                    $379,537.95    617   Clinton               NY      12578   P
 80.00   A3/6 B30/40            $227,852.35    530   Eugene                OR      97401   CO
 80.00   A2/6                   $514,678.25    660   Makawao               HI      96768   P
 80.00   A3/6 B30/40            $207,880.09    718   Hartford              CT       6114   P
 80.00   IOA3/6                 $ 92,000.00    652   Wentzville            MO      63385   P
 80.00   IOA2/6                 $368,800.00    692   Stockton              CA-N    95206   P
 80.00   A2/6                   $119,370.41    609   Milford               OH      45150   P
 80.00   IOA3/6                 $178,800.00    708   Tacoma                WA      98445   CO
 80.00   A2/6                   $144,614.69    682   Rigby                 ID      83442   CO
 80.00   A2/6                   $154,221.68    605   Las Vegas             NV      89123   P
 80.00   F30                    $ 34,758.67    602   Tulia                 TX      79088   CO
 80.00   IOA2/6                 $342,400.00    632   Calexico              CA-S    92231   P
 80.00   A3/6                   $107,881.32    608   Hollister             FL      32147   P
 80.00   A2/6                   $319,414.28    569   Oneonta               NY      13820   CO
 80.00   A2/6                   $307,689.34    533   Puyallup              WA      98374   CO
 80.00   IOA3/6                 $260,000.00    678   Corona                CA-S    92882   CO
 80.00   IOA3/6                 $207,920.00    726   Stockton              CA-N    95205   P
 80.00   F30                    $ 67,113.80    603   Berlin                NY      12022   P
 80.00   IOA2/6                 $224,000.00    638   Dos Palos             CA-N    93620   P
 80.00   A2/6 B30/40            $331,801.24    605   Colorado Springs      CO      80920   CO
 80.00   A3/6                   $263,563.21    548   South Windsor         CT       6074   CO
 80.00   A3/6                   $190,315.75    514   Terrebonne            OR      97760   CO
 80.00   A2/6 B30/40            $131,938.25    520   Brainerd              MN      56401   P
 80.00   A2/6 B30/40            $113,558.04    596   Saint Marys           GA      31558   P
 80.00   A3/6 B30/40            $127,938.66    743   Knoxville             TN      37916   RT
 80.00   A3/6 B30/40            $127,938.66    743   Knoxville             TN      37916   CO
 80.00   A3/6 B30/40            $159,923.35    743   Knoxville             TN      37916   RT
 80.00   F30                    $155,667.53    624   Youngstown            NY      14174   CO
 80.00   F30                    $129,248.05    611   Cincinnati            OH      45238   CO
 80.00   A3/6                   $123,793.12    651   Mesquite              TX      75149   P
 80.00   A2/6                   $115,948.57    589   Brookville            IN      47012   P
 80.00   A2/6                   $ 63,982.19    548   Cleveland             OH      44102   P
 80.00   A3/6 B30/40            $145,545.07    501   Kalama                WA      98625   CO
 80.00   F30                    $103,100.18    534   Waco                  TX      76708   CO
 80.00   F30                    $171,843.07    539   Nashua                NH       3060   CO
 80.00   A3/6                   $ 76,425.19    501   Tampa                 FL      33615   P
 80.00   A2/6                   $136,514.25    685   Chicago               IL      60617   P
 80.00   IOF30                  $173,600.00    657   Holtville             CA-S    92250   P
 80.00   A2/6 B30/40            $499,538.64    670   Sunnyvale             CA-N    94085   P
 80.00   A2/6 B30/40            $199,820.63    644   Ingleside             IL      60041   CO
 80.00   A2/6                   $ 76,627.93    743   Roseville             MI      48066   P
 80.00   A2/6                   $ 59,908.39    543   Detroit               MI      48205   P
 80.00   A2/6                   $ 99,851.28    629   Grand Ledge           MI      48837   P
 80.00   A2/6 B30/40            $439,656.09    551   Brighton              MI      48114   CO
 80.00   A2/6                   $203,724.77    598   Chicago               IL      60605   P
 80.00   A2/6                   $103,729.81    580   Midland               MI      48640   P
 80.00   IOA3/6                 $266,038.00    707   Las Vegas             NV      89149   P
 80.00   A2/6 B30/40            $375,786.95    635   Menifee               CA-S    92584   P
 80.00   IOA3/6                 $114,400.00    598   Detroit               MI      48204   P
 80.00   A2/6                   $271,605.02    686   Minneapolis           MN      55418   P
 80.00   IOA3/6                 $183,600.00    627   Colorado Springs      CO      80922   P
 80.00   A2/6                   $ 81,221.89    721   Canton                TX      75103   P
 80.00   B30/40                 $215,923.31    622   Warwick               RI       2889   CO
 80.00   A2/6                   $299,783.96    550   Saint Cloud           FL      34771   CO
 80.00   IOA2/6                 $208,000.00    637   Pawtucket             RI       2861   CO
 80.00   F30                    $507,846.37    530   Summit                NJ       7901   CO
 80.00   A2/6 B30/40            $252,000.00    593   Naugatuck             CT       6770   RT
 80.00   A2/6                   $175,912.51    536   Putnam                CT       6260   CO
 80.00   A2/6 B30/40            $391,904.35    590   Arverne               NY      11692   CO
 80.08   IOA3/6                 $345,000.00    666   Naples                FL      34108   CO
 80.34   A2/6                   $187,756.95    684   Las Vegas             NV      89104   CO
 80.88   B30/40                 $175,410.58    509   Denver                CO      80222   CO
 81.03   A3/6                   $164,312.13    539   Virginia Beach        VA      23452   CO
 81.15   A2/6                   $247,228.02    622   Kings                 IL      61068   CO
 81.19   A2/6 B30/40            $314,787.38    616   Woodbridge            VA      22192   RT
 81.20   F30                    $107,898.81    614   Corpus Christi        TX      78418   CO
 81.21   IOA5/6                 $121,000.00    651   Chambersburg          PA      17201   CO
 81.23   B30/40                 $125,858.19    508   Grove City            OH      43123   CO
 81.25   A2/6 B30/40            $103,913.61    605   Nampa                 ID      83686   CO
 81.27   F30                    $ 98,861.66    626   Amarillo              TX      79110   RT
 81.30   IOA3/6                 $700,000.00    678   Los Angeles           CA-S    90018   CO
 81.30   F30                    $ 49,947.95    598   Harbor Beach          MI      48441   CO
 81.36   IOA2/6                 $240,000.00    618   Phoenix               AZ      85050   CO
 81.38   A3/6 B30/40            $215,503.40    569   Miami                 FL      33176   CO
 81.46   A2/6 B30/40            $311,760.91    637   Fontana               CA-S    92337   CO
 81.48   A2/6                   $ 87,919.96    551   Carter Lake           IA      51510   RT
 81.57   F30                    $109,192.06    569   Roscoe                IL      61073   CO
 81.58   IOA2/6                 $774,996.06    688   Wailuki               HI      96793   P
 81.70   A2/6 B30/40            $110,189.86    591   Valley                AL      36854   CO
 81.94   A3/6                   $117,884.99    531   Apollo                PA      15613   CO
 81.94   A2/6                   $235,682.23    663   Hightstown            NJ       8520   CO
 81.96   F30                    $208,566.98    664   Egg Harbor City       NJ       8234   CO
 82.00   A3/6                   $188,281.28    524   Carrollton            TX      75006   RT
 82.00   A3/6                   $ 73,650.17    643   Detroit               MI      48221   CO
 82.11   B30/40                 $ 83,691.73    565   Saint Ann             MO      63074   CO
 82.11   IOA3/6                 $156,000.00    701   Glendale              AZ      85301   CO
 82.11   F30                    $ 77,928.75    614   Terre Haute           IN      47805   CO
 82.22   F15                    $110,425.52    604   Derby                 KS      67037   CO
 82.26   A3/6 B30/40            $509,780.64    625   Los Angeles           CA-S    90011   CO
 82.32   F30                    $324,632.25    705   Oak Lawn              IL      60453   RT
 82.35   F30                    $139,743.70    669   Melbourne             FL      32935   CO
 82.41   IOA3/6                 $444,999.48    648   El Cajon              CA-S    92020   CO
 82.48   F30                    $ 96,279.01    625   Missouri City         TX      77489   RT
 82.50   B30/40                 $164,908.53    546   Tacoma                WA      98405   CO
 82.61   A2/6                   $ 75,924.94    518   Huntsville            AL      35810   CO
 82.67   A3/6                   $247,568.81    526   Woodstock             IL      60098   CO
 82.80   A2/6 B30/40            $283,496.80    635   Hesperia              CA-S    92345   CO
 82.87   A2/6                   $299,521.12    677   Palmdale              CA-S    93550   RT
 82.94   F30                    $140,667.23    586   Austin                TX      78758   RT
 83.00   F30                    $ 92,755.44    637   Lake Charles          LA      70611   CO
 83.00   A3/6 B30/40            $203,210.18    608   Chester               VA      23831   CO
 83.01   A2/6                   $253,413.70    628   North Providence      RI       2911   CO
 83.05   A2/6 B30/40            $244,892.71    641   Bakersfield           CA-S    93305   CO
 83.09   B30/40                 $289,652.35    625   Rosamond              CA-S    93560   RT
 83.16   A2/6 B30/40            $315,779.68    621   Chicago               IL      60641   CO
 83.32   F30                    $184,000.18    615   Sugar Land            TX      77479   RT
 83.33   A2/6                   $373,512.20    697   Santa Maria           CA-S    93454   CO
 83.33   A2/6                   $199,320.01    639   Pensacola             FL      32504   CO
 83.33   A2/6 B30/40            $349,624.91    629   Los Angeles           CA-S    90047   CO
 83.33   IOA2/6                 $300,000.00    642   Woodbridge            VA      22192   CO
 83.33   A3/6                   $ 49,871.75    576   Middlesboro           KY      40965   P
 83.33   F30                    $ 49,936.65    709   Lyons                 KS      67554   CO
 83.40   A3/6 B30/40            $195,921.99    571   Chicago               IL      60629   CO
 83.42   A2/6                   $160,842.64    555   Millington            TN      38053   RT
 83.52   B30/40                 $ 75,945.19    607   Ashtabula             OH      44004   CO
 83.53   A2/6 B30/40            $483,986.54    552   Sun Valley            CA-S    91352   CO
 83.53   A3/6                   $ 70,918.00    633   Nacogdoches           TX      75964   RT
 83.58   A3/6                   $199,552.71    640   Chicago               IL      60628   CO
 83.59   A2/6 B30/40            $106,935.85    574   Atlanta               GA      30315   CO
 83.63   IOA2/6                 $189,000.00    613   Jacksonville          FL      32246   CO
 83.64   A3/6                   $229,795.21    551   Tobyhanna             PA      18466   CO
 83.65   A2/6                   $219,636.02    566   Warwick               RI       2886   P
 83.81   A3/6 B30/40            $175,882.90    594   West Jordan           UT      84084   CO
 83.81   B30/40                 $ 87,949.26    577   Philadelphia          PA      19134   CO
 83.82   A2/6                   $716,516.88    598   Indio                 CA-S    92201   CO
 83.82   A2/6                   $ 71,182.89    563   Spokane               WA      99202   CO
 83.96   A3/6 B30/40            $177,890.03    638   Shafter               CA-S    93263   CO
 84.00   A2/6                   $209,590.56    587   Stanardsville         VA      22973   P
 84.00   A3/6                   $125,725.50    694   Midvale               UT      84047   P
 84.00   F30                    $314,654.57    694   Jamaica               NY      11434   CO
 84.00   A3/6                   $ 75,494.44    629   Millinocket           ME       4462   CO
 84.06   F30                    $173,547.17    672   Armona                CA-S    93202   CO
 84.12   A2/6 B30/40            $407,804.25    545   Bronx                 NY      10459   CO
 84.13   IOA2/6                 $319,700.00    656   Long Beach            CA-S    90804   CO
 84.14   IOA2/6                 $610,000.00    629   White Plains          NY      10606   CO
 84.21   A3/6 B30/40            $239,923.54    513   Santa Rosa            CA-N    95403   CO
 84.25   A2/6                   $106,775.51    614   Rockingham            NC      28379   P
 84.27   A2/6 B30/40            $492,753.21    590   Manteca               CA-N    95337   CO
 84.30   F20                    $113,275.42    632   Garland               TX      75041   RT
 84.34   F30                    $348,840.07    667   Los Angeles           CA-S    90002   CO
 84.34   F20                    $ 63,593.28    503   Snyder                TX      79549   RT
 84.35   B30/40                 $ 96,933.35    605   Irons                 MI      49644   RT
 84.36   A2/6 B30/40            $185,448.02    603   Portland              OR      97211   CO
 84.38   A3/6                   $175,178.12    569   Miami                 FL      33147   CO
 84.38   A2/6                   $134,835.86    624   Winter Haven          FL      33880   CO
 84.42   IOA2/6                 $219,500.00    610   Cape Coral            FL      33909   CO
 84.47   IOA2/6                 $680,000.00    656   Sherman Oaks          CA-S    91403   CO
 84.48   F30                    $244,835.27    634   Providence            RI       2909   CO
 84.51   A2/6 B30/40            $345,577.18    636   Los Angeles           CA-S    90059   CO
 84.51   A2/6 B30/40            $299,758.80    614   Los Angeles           CA-S    90002   CO
 84.52   A2/6 B30/40            $261,848.97    605   New Bedord            MA       2740   CO
 84.57   IOA2/6                 $296,000.00    660   Elk Grove             CA-N    95758   P
 84.62   A2/6 B30/40            $549,567.22    553   Long Beach            CA-S    90815   CO
 84.62   F30                    $219,548.76    606   Pottstown             PA      19464   CO
 84.64   A2/6                   $225,483.49    779   Antioch               IL      60002   RT
 84.66   F30                    $159,415.94    526   Waterbury             CT       6704   CO
 84.66   A3/6                   $ 88,797.22    526   Orlando               FL      32805   CO
 84.69   A2/6                   $ 45,656.05    552   Central City          IA      52214   CO
 84.73   A2/6                   $614,798.92    614   San Jose              CA-N    95121   RT
 84.75   A3/6                   $329,558.78    649   Marlborough           MA       1752   CO
 84.76   IOA2/6                 $208,500.00    618   Las Vegas             NV      89110   CO
 84.80   F30                    $105,847.55    505   Bethlehem             GA      30620   CO
 84.84   A2/6                   $402,553.46    587   Lyndhurst             NJ       7071   CO
 84.88   F30                    $105,783.67    659   Carrollton            TX      75006   RT
 84.89   F30                    $550,363.44    673   Voorhees              NJ       8043   CO
 84.89   F30                    $401,916.19    616   Bronx                 NY      10467   RT
 84.90   A2/6                   $305,967.10    569   Waldorf               MD      20601   CO
 84.91   A3/6                   $224,642.94    547   Largo                 FL      33774   CO
 84.91   IOA2/6                 $512,000.00    624   Corona                CA-S    92880   CO
 84.94   A2/6                   $347,482.41    547   Manteca               CA-N    95336   CO
 84.94   A2/6                   $326,558.81    648   New Lenox             IL      60451   CO
 84.97   A2/6 B30/40            $129,930.62    597   St Petersburg         FL      33714   P
 84.97   F30                    $121,319.28    530   Bourbonnais           IL      60914   CO
 84.97   A3/6                   $ 78,531.50    620   Erie                  PA      16508   CO
 84.97   A3/6                   $134,744.34    585   Leesburg              FL      34748   P
 84.98   A3/6                   $258,793.77    552   Miami                 FL      33157   CO
 84.98   A2/6                   $132,733.50    646   Kansas City           MO      64155   CO
 84.99   IOA2/6                 $218,600.00    792   Cape Coral            FL      33993   CO
 84.99   A3/6                   $155,680.88    534   Independence          MO      64058   P
 85.00   A2/6                   $409,463.80    651   Concord               CA-N    94520   CO
 85.00   F30                    $371,197.46    705   Los Angeles           CA-S    90032   CO
 85.00   IOA2/6                 $444,125.00    610   Torrance              CA-S    90502   P
 85.00   A2/6                   $148,388.43    535   Florissant            MO      63033   P
 85.00   A2/6                   $183,487.99    620   Spring Hill           FL      34607   CO
 85.00   A3/6 B30/40            $190,785.01    649   Philadelphia          PA      19136   CO
 85.00   A2/6                   $190,267.25    629   Chicopee              MA       1020   CO
 85.00   A2/6                   $423,648.39    634   Miami                 FL      33176   CO
 85.00   IOA2/6                 $334,898.84    656   Compton               CA-S    90220   CO
 85.00   A2/6                   $524,731.96    623   Garden Grove          CA-S    92845   CO
 85.00   A3/6                   $155,018.64    617   Romulus               MI      48174   CO
 85.00   A2/6                   $ 80,569.35    551   Tampa                 FL      33604   P
 85.00   A3/6 B30/40            $190,969.11    582   Gowen                 MI      49326   CO
 85.00   A2/6 B30/40            $148,500.19    631   Schaumburg            IL      60173   CO
 85.00   A3/6 B30/40            $144,258.03    525   Deltona               FL      32725   CO
 85.00   A2/6 B30/40            $130,517.00    708   West Valley City      UT      84128   P
 85.00   A2/6                   $ 67,663.35    526   Lakeview              MI      48850   CO
 85.00   A2/6                   $ 89,044.95    555   Tampa                 FL      33604   P
 85.00   A2/6 B30/40            $475,494.50    592   Long Beach            CA-S    90810   CO
 85.00   A2/6                   $236,836.09    632   Fallon                NV      89406   CO
 85.00   A2/6                   $338,955.41    622   Branchville           NJ       7826   CO
 85.00   A2/6                   $ 60,177.58    557   Marshall              MO      65340   P
 85.00   A2/6 B30/40            $267,535.20    512   Port Saint Lucie      FL      34953   CO
 85.00   A2/6 B30/40            $216,415.85    696   Cranston              RI       2910   RT
 85.00   A2/6                   $317,803.98    592   Banning               CA-S    92220   CO
 85.00   IOA2/6                 $265,200.00    618   Hollywood             FL      33024   CO
 85.00   A2/6                   $118,701.93    560   Jacksonville          FL      32244   P
 85.00   A3/6 B30/40            $144,374.75    573   Buford                GA      30519   CO
 85.00   F30                    $100,018.46    630   Philadelphia          PA      19124   CO
 85.00   A3/6                   $122,979.05    594   Greenwell Springs     LA      70739   CO
 85.00   A2/6                   $105,940.99    667   Porterville           CA-S    93257   CO
 85.00   A2/6                   $101,829.84    550   La Grande             OR      97850   CO
 85.00   A2/6                   $216,053.93    605   Pawtucket             RI       2861   CO
 85.00   A2/6                   $240,206.27    736   Commerce City         CO      80022   P
 85.00   A2/6 B30/40            $305,567.59    618   Los Angeles           CA-S    90044   CO
 85.00   A2/6                   $466,592.99    629   Oakland               CA-N    94607   P
 85.00   A2/6                   $234,684.89    579   Plainfield            IL      60586   CO
 85.00   F30                    $301,076.28    670   Denver                CO      80249   CO
 85.00   A2/6                   $233,238.77    602   Lake Peekskill        NY      10537   P
 85.00   A2/6 B30/40            $432,814.29    562   Oakland               CA-N    94605   CO
 85.00   A2/6                   $ 72,951.38    694   Indianapolis          IN      46235   CO
 85.00   F30                    $149,210.50    543   Lakeland              FL      33810   CO
 85.00   B30/40                 $197,029.08    532   North Port            FL      34286   CO
 85.00   F30                    $101,757.72    600   West Palm Beach       FL      33404   CO
 85.00   A2/6                   $318,101.93    689   Moreno Valley         CA-S    92551   CO
 85.00   F30                    $161,150.44    612   Hudson                FL      34669   CO
 85.00   A2/6                   $ 64,501.40    521   Detroit               MI      48227   CO
 85.00   IOA2/6                 $221,000.00    609   Maple Valley          WA      98038   CO
 85.00   IOA2/6                 $130,050.00    617   Mount Dora            FL      32757   CO
 85.00   A2/6 B30/40            $203,753.47    554   Albuquerque           NM      87120   CO
 85.00   A2/6 B30/40            $458,467.24    595   Corona Area           CA-S    92883   CO
 85.00   A2/6 B30/40            $500,917.91    640   Anaheim               CA-S    92801   CO
 85.00   A2/6 B30/40            $475,441.12    693   Loma Linda            CA-S    92354   CO
 85.00   A2/6                   $721,319.44    614   Brooklyn              NY      11210   P
 85.00   A3/6                   $224,593.04    575   Bozrah                CT       6334   CO
 85.00   A2/6 B30/40            $180,930.46    557   Spokane               WA      99208   CO
 85.00   A2/6                   $ 61,090.08    661   Butler                PA      16001   CO
 85.00   A2/6 B30/40            $305,296.02    739   Belcamp               MD      21017   CO
 85.00   A2/6 B30/40            $106,145.42    626   Holiday               FL      34691   CO
 85.00   A2/6                   $ 81,489.62    665   Philadelphia          PA      19141   CO
 85.00   A2/6                   $296,701.61    606   Bridgeport            CT       6606   CO
 85.00   A2/6                   $ 50,111.35    542   High Point            NC      27260   CO
 85.00   A2/6 B30/40            $237,910.85    559   Taunton               MA       2780   CO
 85.00   F30                    $ 97,211.65    610   Iola                  WI      54945   P
 85.00   A2/6                   $287,716.89    635   Brighton              MI      48114   P
 85.00   A2/6 B30/40            $443,342.95    592   Los Angeles           CA-S    90011   CO
 85.00   A2/6 B30/40            $180,952.26    555   Sarasota              FL      34236   CO
 85.00   A2/6                   $ 80,604.23    530   South Bend            IN      46619   P
 85.00   A3/6                   $ 84,888.39    551   Detroit               MI      48205   CO
 85.00   A3/6                   $106,128.93    548   Indianapolis          IN      46236   RT
 85.00   F30                    $118,831.73    526   Mooresville           IN      46158   CO
 85.00   A3/6                   $101,804.85    640   Cincinnati            OH      45216   P
 85.00   A3/6                   $ 92,526.01    529   Duncanville           TX      75116   RT
 85.00   A3/6                   $212,279.90    525   Albrightsville        PA      18210   CO
 85.00   A3/6                   $117,158.64    529   Macungie              PA      18062   CO
 85.00   A3/6                   $197,739.60    618   Suffolk               VA      23434   CO
 85.00   IOA2/6                 $374,000.00    696   San Pablo             CA-N    94806   CO
 85.00   A2/6                   $169,634.07    757   Glendale              AZ      85302   P
 85.00   IOA2/6                 $242,250.00    611   Surprise              AZ      85388   P
 85.00   IOA3/6                 $357,000.00    649   Waterford             CA-N    95386   CO
 85.00   A2/6                   $151,857.03    563   Delano                CA-S    93215   P
 85.00   A3/6                   $112,905.03    558   Cartersville          GA      30120   CO
 85.00   A2/6                   $347,851.34    568   Port Saint Lucie      FL      34953   CO
 85.00   A2/6                   $ 66,202.02    569   Detroit               MI      48228   P
 85.00   IOA2/6                 $450,500.00    610   San Fernando          CA-S    91340   CO
 85.00   A2/6                   $ 93,279.09    584   Des Moines            IA      50312   RT
 85.00   F30                    $153,555.66    642   Pooler                GA      31322   RT
 85.00   A2/6 B30/40            $203,015.89    616   Albuquerque           NM      87111   CO
 85.00   A2/6                   $118,881.22    527   Tallahassee           FL      32311   CO
 85.00   A3/6 B30/40            $174,090.26    640   Forest City           NC      28043   RT
 85.00   A2/6                   $ 76,258.63    747   Saint Louis           MO      63137   RT
 85.00   A3/6                   $ 89,035.86    601   Munhall               PA      15120   CO
 85.00   F30                    $ 82,191.68    685   Dallas                TX      75217   RT
 85.00   A3/6                   $381,695.93    533   Fairfield             CA-N    94533   CO
 85.00   A2/6                   $241,571.79    656   Las Vegas             NV      89156   CO
 85.00   A2/6                   $146,707.17    583   Phoenix               AZ      85006   CO
 85.00   F30                    $ 42,316.32    626   Cassville             MO      65625   CO
 85.00   A3/6 B30/40            $ 76,428.83    575   Belleville            IL      62226   CO
 85.00   A3/6                   $ 93,321.35    578   Pittsburgh            PA      15227   RT
 85.00   A2/6                   $162,105.46    573   Vero Beach            FL      32962   P
 85.00   A2/6 B30/40            $186,863.75    631   Lehigh Acres          FL      33971   CO
 85.00   A3/6                   $ 76,373.42    598   Jackson               TN      38305   CO
 85.00   A3/6                   $146,833.59    590   Clinton Township      MI      48035   CO
 85.00   A2/6                   $ 66,225.89    561   Detroit               MI      48202   CO
 85.00   F30                    $186,601.49    640   Chicago               IL      60619   CO
 85.00   A2/6 B30/40            $229,323.21    585   Streamwood            IL      60107   CO
 85.00   A2/6                   $148,503.90    562   Chicago               IL      60628   CO
 85.00   A3/6                   $182,447.66    560   Enfield               CT       6082   CO
 85.00   B30/40                 $526,368.24    705   Rancho Cucamonga      CA-S    91701   CO
 85.00   F20                    $ 77,846.09    637   Humble                TX      77338   RT
 85.00   A3/6                   $ 67,857.68    752   Kansas City           MO      64134   CO
 85.00   F30                    $156,940.89    701   Weatherford           TX      76088   CO
 85.00   F30                    $156,940.89    701   Weatherford           TX      76088   CO
 85.00   F30                    $129,766.97    640   Palmyra               VA      22963   CO
 85.00   F30                    $101,827.73    616   Eighty Four           PA      15330   CO
 85.00   IOA2/6                 $216,750.00    635   Delano                CA-S    93215   CO
 85.00   A2/6 B30/40            $237,805.70    588   Tacoma                WA      98445   CO
 85.00   A2/6                   $275,844.70    519   Clovis                CA-N    93611   CO
 85.00   F30                    $326,398.32    633   Las Vegas             NV      89120   CO
 85.00   A2/6 B30/40            $242,097.72    579   Phoenix               AZ      85008   CO
 85.00   B30/40                 $ 91,736.19    581   Harvey                IL      60426   CO
 85.00   A3/6                   $ 97,541.70    605   Lubbock               TX      79423   CO
 85.00   F30                    $ 84,873.56    544   Desloge               MO      63601   CO
 85.00   A3/6                   $212,206.45    542   Lowell                MA       1852   CO
 85.00   A3/6 B30/40            $158,028.84    548   Jacksonville          FL      32244   CO
 85.00   IOA2/6                 $229,500.00    619   Kissimmee             FL      34746   CO
 85.00   A2/6                   $270,809.33    627   Deerfield Beach       FL      33441   CO
 85.00   A3/6                   $105,947.02    595   Durham                NC      27704   RT
 85.00   A2/6                   $ 80,646.45    563   Milan                 TN      38358   P
 85.00   A3/6                   $135,868.48    518   Grandview             MO      64030   CO
 85.00   A3/6                   $263,306.02    531   Fredericksburg        VA      22405   CO
 85.00   A3/6                   $112,897.48    645   Walker                LA      70785   CO
 85.00   A2/6                   $237,482.55    675   District Heights      MD      20747   CO
 85.00   A2/6                   $156,955.63    565   Freedom               PA      15042   CO
 85.00   A3/6                   $ 86,570.07    591   Lansing               MI      48910   CO
 85.00   F30                    $241,777.64    631   Jacksonville          FL      32225   CO
 85.00   A3/6                   $195,233.96    543   Chesapeake            VA      23323   CO
 85.00   IOA2/6                 $259,250.00    651   Warwick               RI       2886   CO
 85.00   A2/6                   $140,125.12    568   Paragon               IN      46166   P
 85.00   A2/6                   $118,879.97    645   Baton Rouge           LA      70810   P
 85.00   A3/6                   $213,992.42    620   Kissimmee             FL      34743   P
 85.00   A3/6                   $141,777.41    642   Orlando               FL      32808   P
 85.00   A2/6                   $ 99,356.63    631   Memphis               TN      38128   P
 85.00   A3/6                   $129,072.13    532   Pell Lake             WI      53157   RT
 85.00   A3/6                   $191,095.69    569   Hot Springs           AR      71913   RT
 85.00   F30                    $ 84,908.05    568   Richmond              VA      23222   CO
 85.00   F30                    $127,364.21    554   Danville              PA      17821   RT
 85.00   A3/6                   $131,623.66    611   Virginia Beach        VA      23453   CO
 85.00   IOA2/6                 $356,999.88    680   Beaumont              CA-S    92223   CO
 85.00   A2/6                   $509,505.75    561   Santa Clarita         CA-S    91350   CO
 85.00   A3/6                   $ 72,124.39    532   East Alton            IL      62024   CO
 85.00   F30                    $ 75,575.28    536   Angola                IN      46703   CO
 85.00   F30                    $219,210.88    587   Patterson             LA      70392   CO
 85.00   A2/6                   $135,804.00    559   Hialeah               FL      33012   CO
 85.00   A2/6                   $229,083.93    660   Mesa                  AZ      85212   CO
 85.00   A2/6 B30/40            $348,246.22    555   Stateline             NV      89449   P
 85.00   F30                    $ 48,412.34    555   Roanoke               VA      24017   RT
 85.00   A3/6                   $ 84,925.91    659   Harvey                IL      60426   CO
 85.00   A3/6 B30/40            $276,071.36    635   Frederick             MD      21701   CO
 85.00   A2/6 B30/40            $203,888.20    592   Elgin                 IL      60123   CO
 85.00   A3/6                   $110,389.29    597   Asheville             NC      28806   CO
 85.00   A3/6                   $148,594.85    580   Virginia Beach        VA      23462   P
 85.00   A2/6                   $101,886.98    603   Saint Petersburg      FL      33713   CO
 85.00   A3/6                   $108,696.76    612   Lansing               MI      48911   RT
 85.00   A3/6                   $151,153.68    530   Springfield           MA       1109   CO
 85.00   A3/6                   $ 94,264.19    540   Mcallen               TX      78501   P
 85.00   A3/6                   $140,125.12    529   Tampa                 FL      33615   P
 85.00   A3/6 B30/40            $128,301.18    556   Willowbrook           IL      60527   CO
 85.00   A3/6 B30/40            $314,398.60    570   Tinley Park           IL      60487   CO
 85.00   A2/6                   $331,130.32    563   Bakersfield           CA-S    93312   RT
 85.00   A2/6                   $253,862.50    641   Chicago               IL      60617   P
 85.00   IOA2/6                 $276,250.00    697   Chicago               IL      60632   CO
 85.00   A2/6 B30/40            $212,396.39    652   Santa Ana             CA-S    92703   CO
 85.00   A2/6 B30/40            $191,972.19    624   Tolleson              AZ      85353   CO
 85.00   A2/6 B30/40            $488,274.39    599   Huntington Park       CA-S    90255   CO
 85.00   A2/6 B30/40            $127,441.12    576   Baltimore             MD      21215   CO
 85.00   A2/6 B30/40            $267,627.81    569   Avondale              AZ      85323   CO
 85.00   A3/6                   $161,367.99    571   Bates City            MO      64011   CO
 85.00   A3/6                   $ 89,152.94    634   Leesburg              FL      34748   P
 85.00   A3/6                   $212,571.46    646   Indian Trail          NC      28079   P
 85.00   A3/6                   $127,394.66    525   Chesapeake            VA      23324   CO
 85.00   IOA3/6                 $114,750.00    674   Opa Locka             FL      33054   P
 85.00   A3/6 B30/40            $146,945.26    648   Ellensburg            WA      98926   CO
 85.00   A3/6 B30/40            $150,380.32    557   Sutherlin             OR      97479   RT
 85.00   A2/6                   $ 70,497.39    538   Heppner               OR      97836   CO
 85.00   A3/6                   $ 90,756.40    542   Dover                 DE      19901   CO
 85.00   A2/6                   $135,622.17    567   Phoenix               AZ      85042   CO
 85.00   A2/6                   $138,153.47    526   Cameron               MO      64429   P
 85.00   A2/6                   $ 72,176.35    545   Anniston              AL      36207   P
 85.00   A2/6                   $ 93,381.55    602   Springfield           MO      65802   CO
 85.00   A2/6                   $140,099.38    593   Nampa                 ID      83651   CO
 85.00   A2/6                   $124,858.51    512   Higginsville          MO      64037   P
 85.00   F30                    $153,731.09    555   Carpentersville       IL      60110   CO
 85.00   A2/6                   $144,358.78    553   Parker                AZ      85344   CO
 85.00   A2/6                   $114,656.90    572   Orangeburg            SC      29115   RT
 85.00   A2/6                   $140,945.26    558   Saint Peters          MO      63376   CO
 85.00   A3/6                   $ 78,652.68    507   Mobile                AL      36695   P
 85.00   A2/6                   $258,964.22    585   Philadelphia          PA      19131   P
 85.00   A2/6                   $ 76,433.10    507   Birmingham            AL      35214   P
 85.00   A2/6                   $182,599.33    575   Phoenix               AZ      85051   CO
 85.00   A2/6                   $241,922.16    546   Lake Stevens          WA      98258   CO
 85.00   A2/6                   $ 83,234.56    519   Ashland City          TN      37015   CO
 85.00   F15                    $ 40,951.13    549   Cadiz                 KY      42211   P
 85.00   A2/6                   $ 72,588.98    533   Findlay               OH      45840   RT
 85.00   A2/6                   $152,602.57    584   Miami                 FL      33147   CO
 85.00   A2/6                   $ 78,025.38    588   Carnegie              PA      15106   P
 85.00   A2/6                   $ 90,752.82    680   Anderson              IN      46012   CO
 85.00   A2/6 B30/40            $237,036.21    580   Lake Worth            FL      33463   CO
 85.00   A2/6                   $478,921.51    604   Bronx                 NY      10467   CO
 85.00   A2/6                   $110,374.35    617   Westland              MI      48185   P
 85.00   A2/6                   $212,228.10    637   Powhatan              VA      23139   RT
 85.00   A2/6 B30/40            $182,697.64    606   Tacoma                WA      98408   RT
 85.00   A2/6                   $ 63,681.18    614   Detroit               MI      48221   CO
 85.00   IOA3/6                 $205,700.00    612   Levittown             PA      19057   CO
 85.00   A2/6                   $271,637.46    610   Laurel                MD      20707   CO
 85.00   A2/6                   $174,050.82    602   Chesapeake            VA      23321   CO
 85.00   A2/6 B30/40            $171,659.32    632   Spring Hill           FL      34608   CO
 85.00   IOA2/6                 $364,650.00    606   Cockeysville          MD      21030   RT
 85.00   A2/6                   $100,160.78    771   Saint Marys           GA      31558   CO
 85.00   A2/6                   $129,897.46    741   Humble                TX      77346   P
 85.00   A2/6                   $ 50,920.06    636   South Bend            IN      46617   CO
 85.00   A2/6 B30/40            $390,786.37    601   Hicksville            NY      11801   P
 85.00   A3/6                   $127,379.25    567   Saint Louis           MO      63108   CO
 85.00   IOA2/6                 $400,350.00    605   Kingston              MA       2364   CO
 85.00   A3/6 B30/40            $182,687.39    503   Toledo                WA      98591   CO
 85.00   A3/6                   $445,827.45    507   La Quinta             CA-S    92253   CO
 85.00   A3/6                   $ 49,275.74    572   Mary D                PA      17952   CO
 85.00   A2/6                   $114,710.83    536   Columbus              GA      31909   CO
 85.00   A2/6 B30/40            $148,654.70    635   Beaverton             OR      97005   P
 85.00   A2/6 B30/40            $356,846.44    530   Frankfort             IL      60423   CO
 85.00   A2/6 B30/40            $229,457.65    566   South Holland         IL      60473   CO
 85.00   A3/6 B30/40            $134,261.95    544   Dallas                OR      97338   P
 85.00   A2/6 B30/40            $329,658.13    634   Thomaston             CT       6787   CO
 85.00   A2/6 B30/40            $153,374.39    683   Meridian              ID      83642   P
 85.00   A2/6                   $110,363.48    509   Bainbridge            GA      39819   CO
 85.00   A3/6                   $ 93,327.48    545   Philadelphia          PA      19143   P
 85.00   A2/6 B30/40            $286,312.56    522   Sacramento            CA-N    95828   CO
 85.00   A2/6 B30/40            $121,511.27    600   Chicago               IL      60643   P
 85.00   F30                    $190,993.50    511   Hanford               CA-S    93230   CO
 85.00   F25                    $123,848.57    597   Liverpool             NY      13090   CO
 85.00   A3/6 B30/40            $203,776.90    650   Ware                  MA       1082   CO
 85.00   IOA3/6                 $271,150.00    601   Wawayanda             NY      10940   P
 85.00   A2/6                   $ 50,935.27    675   Birmingham            AL      35211   P
 85.00   A3/6                   $150,316.29    511   Hastings              MI      49058   CO
 85.00   A3/6                   $ 93,345.31    565   Sweet Home            OR      97386   CO
 85.00   A2/6 B30/40            $339,659.60    626   Bay Shore             NY      11706   CO
 85.00   A3/6                   $128,964.87    532   New Freeport          PA      15352   P
 85.00   A2/6                   $220,702.37    709   Chicago               IL      60632   P
 85.00   A3/6 B30/40            $196,282.73    531   Mesa                  AZ      85207   CO
 85.00   A2/6                   $ 97,679.94    517   Leavenworth           KS      66048   CO
 85.00   A2/6                   $271,502.03    646   Colfax                IA      50054   CO
 85.00   A3/6 B30/40            $237,971.89    550   Bloomfield            CT       6002   P
 85.00   A3/6                   $280,250.72    502   Surprise              AZ      85387   CO
 85.00   A2/6                   $206,190.88    633   Resaca                GA      30735   CO
 85.00   A3/6                   $139,939.44    631   Post Falls            ID      83854   P
 85.00   A2/6                   $475,576.18    647   Chicago               IL      60625   CO
 85.00   A3/6                   $186,826.65    508   Columbus              OH      43209   CO
 85.00   A3/6                   $227,457.35    517   Richmond              VA      23223   P
 85.00   A2/6                   $174,015.32    504   West Palm Beach       FL      33409   CO
 85.00   A3/6                   $122,341.05    520   Fort Pierce           FL      34946   CO
 85.00   A3/6                   $203,607.04    605   North Miami           FL      33168   CO
 85.00   A2/6 B30/40            $123,169.81    668   Calumet Park          IL      60827   CO
 85.00   A3/6                   $ 70,397.91    585   Cleveland             OH      44120   CO
 85.00   B30/40                 $186,940.42    521   Branford              CT       6405   P
 85.00   IOA3/6                 $340,000.00    657   Riverside             CA-S    92509   CO
 85.00   A3/6                   $212,357.13    631   Hollywood             FL      33023   CO
 85.00   A2/6                   $241,943.21    542   Zeeland               MI      49464   CO
 85.00   A2/6 B30/40            $169,937.20    617   Hyattsville           MD      20785   CO
 85.00   B30/40                 $140,189.67    510   Parker                PA      16049   CO
 85.00   F30                    $ 78,137.56    524   Tyrone                PA      16686   CO
 85.00   A2/6                   $106,029.41    604   Sanders               KY      41083   CO
 85.00   A2/6 B30/40            $305,860.77    621   Central Islip         NY      11722   CO
 85.00   A3/6 B30/40            $113,840.45    566   Salt Lake City        UT      84104   P
 85.00   A5/6                   $ 76,402.43    615   Kipton                OH      44049   CO
 85.00   A2/6                   $125,549.45    579   Chicago               IL      60636   CO
 85.00   A2/6                   $195,134.76    502   Jacksonville          FL      32211   CO
 85.00   A2/6                   $146,060.08    530   Richton Park          IL      60471   CO
 85.00   A2/6                   $419,642.42    587   Holden                MA       1520   CO
 85.00   A2/6                   $309,943.56    565   Chicago               IL      60639   CO
 85.00   F20                    $117,145.50    541   Jackson               GA      30233   CO
 85.00   A3/6                   $113,730.57    526   Saint Louis           MO      63121   CO
 85.00   F30                    $127,359.89    511   Lanett                AL      36863   CO
 85.00   A2/6 B30/40            $311,713.19    531   Thomasville           GA      31757   CO
 85.00   A3/6                   $105,345.36    549   Oak Grove             MO      64075   CO
 85.00   A3/6                   $225,038.96    563   Bakersfield           CA-S    93309   P
 85.00   F30                    $ 53,476.38    519   Jackson               TN      38301   CO
 85.00   A2/6 B30/40            $177,606.00    511   Quakertown            PA      18951   CO
 85.00   A2/6 B30/40            $ 67,956.42    524   Benton Harbor         MI      49022   CO
 85.00   F30                    $112,100.28    544   Henderson             TN      38340   CO
 85.00   A3/6 B30/40            $150,411.91    598   Phoenix               AZ      85017   CO
 85.00   A3/6                   $ 55,224.89    592   Saginaw               MI      48602   CO
 85.00   A2/6                   $167,754.46    641   Saint Louis           MO      63118   CO
 85.00   A2/6 B30/40            $344,059.13    561   West Babylon          NY      11704   CO
 85.00   F30                    $182,666.52    622   Miami                 FL      33150   CO
 85.00   A2/6                   $124,838.95    619   Savannah              GA      31419   CO
 85.00   A2/6                   $173,961.69    585   Crete                 IL      60417   P
 85.00   A2/6 B30/40            $152,931.89    574   Denver                CO      80204   CO
 85.00   A2/6                   $190,793.43    540   Watervliet/Colonie    NY      12189   CO
 85.00   A2/6 B30/40            $108,730.16    510   Covington             GA      30016   CO
 85.00   B30/40                 $ 80,699.58    541   Frostproof            FL      33843   CO
 85.00   A3/6                   $139,501.82    549   Chesterton            IN      46304   CO
 85.00   A3/6                   $203,787.89    558   Decatur               IL      62521   CO
 85.00   F30                    $ 49,243.15    597   Anniston              AL      36201   CO
 85.00   A2/6                   $116,285.67    514   Burlington            KY      41005   RT
 85.00   A2/6                   $335,513.03    613   Bronx                 NY      10466   CO
 85.00   A3/6 B30/40            $123,154.73    622   Richmond              VA      23222   CO
 85.00   A2/6 B30/40            $344,037.34    652   Woodbridge Township   NJ       7001   CO
 85.00   A2/6                   $163,006.59    591   Palmyra               VA      22963   CO
 85.00   A3/6                   $ 50,906.16    529   Riceville             TN      37370   P
 85.00   IOA2/6                 $181,900.00    674   Lakeside              AZ      85929   CO
 85.00   A3/6 B30/40            $205,611.52    656   District Heights      MD      20747   CO
 85.00   A5/6                   $143,567.35    725   Denver                CO      80221   CO
 85.00   A5/6                   $144,416.86    725   Thornton              CO      80229   CO
 85.00   IOA2/6                 $195,500.00    637   North Lauderdale      FL      33068   CO
 85.00   A3/6 B30/40            $121,497.08    526   Wilmington            DE      19802   CO
 85.00   A2/6 B30/40            $191,187.39    592   Montgomery            IL      60538   CO
 85.00   A2/6                   $127,421.16    627   Jacksonville          FL      32208   CO
 85.48   IOA2/6                 $212,000.00    615   Capitol Heights       MD      20743   CO
 85.50   IOA3/6                 $513,000.00    651   National City         CA-S    91950   CO
 85.56   IOA2/6                 $308,000.00    613   Sacramento            CA-N    95823   CO
 86.09   IOA2/6                 $495,000.00    774   Carson                CA-S    90745   RT
 86.14   A2/6                   $301,155.38    578   Lees Summit           MO      64082   CO
 86.22   A2/6 B30/40            $349,099.68    637   Freehold              NJ       7728   CO
 86.23   A3/6 B30/40            $287,750.12    716   Hudson                FL      34667   CO
 86.25   A2/6                   $413,173.17    611   Franklin              TN      37064   CO
 86.33   F30                    $116,127.45    647   Cypress               TX      77429   RT
 86.33   A2/6 B30/40            $211,378.07    601   Milwaukie             OR      97222   CO
 86.36   IOF30                  $475,000.00    673   Chelsea               MA       2150   CO
 86.54   A2/6                   $448,815.43    601   Los Angeles           CA-S    90011   CO
 86.54   A2/6                   $449,484.58    580   Pasadena              CA-S    91103   CO
 86.55   A2/6                   $332,688.60    662   Naples                FL      34116   CO
 86.75   A3/6                   $261,740.69    591   Chesapeake            VA      23320   CO
 86.81   A2/6 B30/40            $225,504.17    670   Aurora                IL      60504   CO
 86.88   IOA2/6                 $404,000.00    646   Pittsburg             CA-N    94565   CO
 86.90   A5/6                   $125,743.81    605   Baltimore             MD      21239   CO
 86.96   A2/6 B30/40            $179,844.29    593   Yelm                  WA      98597   CO
 86.97   A2/6                   $103,258.68    661   Jacksonville          FL      32205   CO
 87.00   A2/6 B30/40            $352,121.83    604   Cicero                IL      60804   CO
 87.00   A2/6                   $237,160.62    666   Plano                 IL      60545   CO
 87.00   A3/6 B30/40            $266,047.84    652   Tenino                WA      98589   CO
 87.27   IOA2/6                 $528,000.00    623   Corona                CA-S    92880   CO
 87.37   F30                    $495,257.89    630   Turlock               CA-N    95382   CO
 87.38   A2/6                   $179,411.19    755   Pompano Beach         FL      33068   CO
 87.47   A2/6 B30/40            $124,965.71    691   Bridgewater           MA       2324   CO
 87.57   IOA2/6                 $306,500.00    612   North Arlington       NJ       7031   CO
 87.59   F30                    $126,779.19    613   Chicago               IL      60643   CO
 87.68   F15                    $ 86,084.72    613   Houston               TX      77060   RT
 87.71   A3/6 B30/40            $206,856.11    572   Aurora                IL      60504   CO
 87.74   A2/6 B30/40            $135,882.02    599   Glendale              AZ      85301   CO
 87.81   B30/40                 $280,477.78    658   Sacramento            CA-N    95823   CO
 87.83   A2/6 B30/40            $302,812.83    563   Sacramento            CA-N    95838   CO
 87.84   A3/6                   $109,649.91    578   Forest Park           GA      30297   CO
 88.02   IOA2/6                 $213,000.00    611   Jacksonville          FL      32211   CO
 88.07   F30                    $ 86,233.59    604   Edinburg              TX      78539   RT
 88.13   F30                    $296,178.45    632   Suffolk               VA      23435   CO
 88.13   F30                    $166,799.92    631   Fitchburg             MA       1420   CO
 88.16   F30                    $167,268.60    572   Winchendon            MA       1475   CO
 88.19   A2/6 B30/40            $317,248.19    608   Kingsville            MD      21087   CO
 88.24   A2/6 B30/40            $749,598.20    645   Kailua                HI      96734   CO
 88.26   A3/6 B30/40            $202,925.03    591   Chicago               IL      60629   CO
 88.27   A2/6 B30/40            $229,300.11    598   Chicago               IL      60623   CO
 88.41   IOA2/6                 $557,000.00    617   Santa Ana             CA-S    92704   RT
 88.47   A2/6 B30/40            $260,877.70    597   Modesto               CA-N    95351   CO
 88.50   A2/6 B30/40            $ 99,962.28    648   Jacksonville          FL      32218   CO
 88.50   A2/6 B30/40            $199,871.03    605   Gardner               MA       1440   CO
 88.52   A3/6 B30/40            $107,944.57    601   Pensacola             FL      32504   CO
 88.53   F30                    $300,817.65    739   Woonsocket            RI       2895   CO
 88.55   IOA2/6                 $580,000.00    595   Lomita                CA-S    90717   CO
 88.57   F30                    $ 61,907.78    627   Struthers             OH      44471   CO
 88.64   F30                    $ 97,327.48    664   Cadillac              MI      49601   RT
 88.64   A3/6 B30/40            $116,949.83    555   Sauk Village          IL      60411   CO
 88.70   A2/6                   $ 78,409.39    579   Watauga               TX      76148   P
 88.70   F30                    $146,107.88    533   Spring                TX      77373   RT
 88.73   B15/30                 $ 69,652.99    659   San Jose              CA-N    95110   CO
 88.82   A2/6                   $376,990.69    739   Copiague              NY      11726   CO
 88.89   A2/6 B30/40            $ 79,954.62    619   Royal Palm Beach      FL      33411   CO
 88.89   A2/6 B30/40            $199,884.71    665   Bourbonnais           IL      60914   CO
 88.89   A2/6                   $ 63,929.08    625   Lancaster             KS      66041   CO
 88.96   F30                    $248,535.21    626   Richardson            TX      75082   RT
 89.02   IOA2/6                 $227,000.00    611   Warwick               RI       2889   CO
 89.04   A3/6 B30/40            $166,384.27    552   Streamwood            IL      60107   RT
 89.06   B15/30                 $ 47,465.91    654   Area Of La Puente     CA-S    91744   CO
 89.07   A2/6 B30/40            $133,327.12    615   Round Rock            TX      78664   RT
 89.22   IOA2/6                 $207,000.00    621   Erving                MA       1344   CO
 89.38   A3/6                   $100,864.09    637   Augusta               GA      30906   CO
 89.39   A3/6 B30/40            $147,404.76    564   Glencoe               MN      55336   CO
 89.44   A2/6 B30/40            $402,013.62    667   Indio                 CA-S    92201   CO
 89.44   A2/6                   $160,702.29    643   Bradenton             FL      34208   CO
 89.47   A2/6                   $152,442.51    657   Tampa                 FL      33615   CO
 89.47   A2/6                   $152,776.26    680   Jacksonville          FL      32277   CO
 89.47   F30                    $ 75,529.15    641   Spartanburg           SC      29306   CO
 89.50   A2/6                   $ 89,377.01    617   Bowling Green         KY      42101   RT
 89.52   A3/6                   $ 93,859.88    567   Bowersville           GA      30516   CO
 89.53   A2/6                   $153,829.37    602   Orlando               FL      32818   CO
 89.58   A3/6                   $214,729.32    645   Fairhaven             MA       2719   CO
 89.60   A2/6 B30/40            $111,944.33    610   Suffolk               VA      23434   CO
 89.61   A2/6                   $206,775.35    645   Champlin              MN      55316   CO
 89.62   A2/6                   $284,357.09    645   Chicago               IL      60629   CO
 89.68   A2/6                   $277,618.04    634   Standish              ME       4084   CO
 89.71   A3/6 B30/40            $156,809.00    677   Round Lake Beach      IL      60073   CO
 89.71   F30                    $156,611.68    677   Tucson                AZ      85713   CO
 89.82   A2/6                   $101,123.72    563   Tallahassee           FL      32311   CO
 89.84   F30                    $229,416.81    680   Farmington Hills      MI      48336   CO
 89.86   A2/6                   $ 62,758.61    595   St. Louis             MO      63120   P
 89.89   B30/40                 $479,681.53    599   Ozone Park            NY      11417   RT
 89.90   F30                    $ 80,710.19    739   Jacksonville          FL      32209   P
 89.90   B30/40                 $ 93,435.00    611   Columbus              OH      43207   CO
 89.90   A2/6                   $ 56,586.56    634   Westbrook             CT       6498   P
 89.96   A2/6                   $110,737.97    625   Forest Park           IL      60130   P
 89.97   A3/6                   $ 75,287.22    558   Butler                IN      46721   P
 89.97   A2/6                   $103,527.39    542   Ellenwood             GA      30294   P
 89.97   IOA5/6                 $157,439.00    627   Orange City           FL      32763   RT
 89.98   A2/6                   $245,752.74    610   Palos Heights         IL      60463   P
 89.98   A3/6                   $ 46,621.95    752   Kansas City           MO      64134   P
 89.98   A2/6                   $227,996.56    586   Palm Bay              FL      32909   P
 89.98   A2/6                   $213,125.65    597   Sacramento            CA-N    95820   P
 89.99   A2/6                   $ 89,672.51    696   Pensacola             FL      32505   P
 89.99   A2/6                   $166,157.15    617   Memphis               TN      38125   P
 89.99   A3/6                   $129,134.43    743   Forest Park           GA      30297   P
 89.99   A3/6                   $173,386.70    561   Statesboro            GA      30458   P
 89.99   A2/6                   $179,687.92    655   Miami                 FL      33167   P
 89.99   A2/6                   $152,744.15    651   Lehigh Acres          FL      33971   P
 89.99   A2/6                   $314,831.46    597   Sacramento            CA-N    95818   P
 90.00   A2/6                   $250,111.09    647   Turlock               CA-N    95380   P
 90.00   A2/6                   $152,275.86    606   Richmond              VA      23224   CO
 90.00   A2/6                   $138,694.27    639   California            MD      20619   RT
 90.00   A1/6                   $268,513.38    608   Las Vegas             NV      89145   P
 90.00   IOA2/6                 $450,000.00    653   Moreno Valley         CA-S    92551   CO
 90.00   A2/6 B30/40            $440,219.24    582   Bloomington           CA-S    92316   CO
 90.00   IOA2/6                 $346,500.00    669   Apple Valley          CA-S    92307   P
 90.00   A2/6                   $ 98,546.63    614   Deer Island           OR      97054   CO
 90.00   A2/6                   $327,447.46    615   Naples                FL      34120   P
 90.00   A2/6                   $179,239.36    585   Chicago               IL      60617   RT
 90.00   A2/6                   $187,250.62    635   Tempe                 AZ      85283   P
 90.00   IOA3/6                 $243,000.00    601   Las Vegas             NV      89121   CO
 90.00   A2/6                   $147,921.99    643   Bakersfield           CA-S    93307   CO
 90.00   A2/6                   $ 85,265.34    626   Cincinnati            OH      45239   CO
 90.00   A3/6                   $533,804.17    604   Kaysville             UT      84037   P
 90.00   A3/6                   $105,941.35    621   Detroit               MI      48219   CO
 90.00   A2/6 B30/40            $265,885.14    638   Orange                CA-S    92868   P
 90.00   A2/6 B30/40            $337,890.64    628   Federal Way           WA      98003   CO
 90.00   F30                    $ 61,038.06    606   Bushnell              IL      61422   CO
 90.00   A2/6                   $261,722.47    661   Homestead             FL      33032   P
 90.00   A2/6 B30/40            $184,277.91    626   Davie                 FL      33324   P
 90.00   A2/6                   $318,605.04    629   Lake Elsinore         CA-S    92530   CO
 90.00   A2/6                   $251,193.62    647   Henderson             NV      89014   P
 90.00   A3/6                   $186,656.36    622   Las Vegas             NV      89107   CO
 90.00   A2/6                   $ 80,708.97    596   Tulsa                 OK      74107   CO
 90.00   A2/6 B30/40            $557,299.34    605   Santa Ana             CA-S    92703   CO
 90.00   A2/6 B30/40            $ 61,139.00    625   Independence          MO      64052   CO
 90.00   F30                    $ 85,376.10    589   Spicewood             TX      78669   P
 90.00   A2/6                   $115,711.19    664   Homestead             FL      33033   CO
 90.00   A2/6                   $246,867.58    611   West Palm Beach       FL      33417   P
 90.00   A2/6                   $186,006.16    587   Dover                 DE      19901   CO
 90.00   A3/6                   $181,890.17    597   Port Saint Lucie      FL      34983   P
 90.00   A2/6                   $363,549.13    737   Tampa                 FL      33606   P
 90.00   A3/6                   $ 67,232.75    657   Detroit               MI      48210   CO
 90.00   A3/6                   $141,955.29    588   East Lansing          MI      48823   CO
 90.00   A2/6 B30/40            $272,488.61    587   Las Vegas             NV      89031   P
 90.00   IOA2/6                 $639,000.00    602   Gilbert               AZ      85296   CO
 90.00   F30                    $107,737.12    557   Thibodaux             LA      70301   CO
 90.00   A3/6                   $143,754.75    598   Spring Hill           FL      34609   CO
 90.00   IOA2/6                 $409,500.00    648   Lake Elsinore         CA-S    92530   P
 90.00   A2/6 B30/40            $238,257.77    667   Phoenix               AZ      85024   CO
 90.00   A2/6                   $143,736.42    561   Ocala                 FL      34480   CO
 90.00   A2/6                   $398,992.19    664   Fontana               CA-S    92335   CO
 90.00   A2/6                   $772,045.48    648   Long Beach            CA-S    90806   CO
 90.00   A2/6                   $260,422.08    578   Rumford               RI       2916   CO
 90.00   IOA2/6                 $504,000.00    665   Huntington Beach      CA-S    92646   P
 90.00   A2/6 B30/40            $149,276.24    551   Oak Park              MI      48237   CO
 90.00   A2/6                   $215,465.55    580   Westchester           IL      60154   CO
 90.00   A2/6                   $116,629.87    591   Des Moines            IA      50313   P
 90.00   A2/6 B30/40            $203,999.13    580   Bel Air               MD      21015   CO
 90.00   A2/6 B30/40            $332,609.00    617   Smyrna                GA      30082   CO
 90.00   A2/6                   $296,294.14    628   Thousand Oaks         CA-S    91320   CO
 90.00   A2/6 B30/40            $539,655.20    586   Freeport              NY      11520   CO
 90.00   A2/6 B30/40            $224,638.95    595   Island Lake           IL      60042   CO
 90.00   A2/6 B30/40            $485,914.64    703   Los Angeles           CA-S    90044   CO
 90.00   A2/6                   $179,576.87    660   Des Moines            IA      50310   RT
 90.00   F30                    $202,047.86    562   Kissimmee             FL      34741   CO
 90.00   A2/6                   $141,044.09    560   Piqua                 OH      45356   RT
 90.00   A2/6 B30/40            $378,519.58    689   Riverside             CA-S    92505   CO
 90.00   A2/6 B30/40            $395,686.98    587   Wilmington            CA-S    90744   CO
 90.00   A2/6 B30/40            $161,816.63    626   Visalia               CA-S    93291   CO
 90.00   A2/6                   $ 56,163.17    629   Alton                 IL      62002   P
 90.00   A2/6                   $191,456.54    580   Deltona               FL      32725   P
 90.00   IOA2/6                 $553,500.00    630   Lawndale              CA-S    90260   CO
 90.00   A2/6                   $173,896.69    626   Landover              MD      20785   P
 90.00   A2/6                   $700,739.49    618   Corona                CA-S    92880   CO
 90.00   A2/6                   $224,298.27    626   Williamsburg          VA      23188   CO
 90.00   F30                    $233,498.79    759   Glen Burnie           MD      21061   CO
 90.00   A2/6 B30/40            $202,344.58    633   Cottage Grove         MN      55016   RT
 90.00   F30                    $ 98,747.44    636   Kansas City           MO      64134   RT
 90.00   A2/6 B30/40            $476,446.36    593   Murrieta              CA-S    92563   CO
 90.00   B30/40                 $449,632.58    588   Bakersfield           CA-S    93312   CO
 90.00   A2/6 B30/40            $571,903.90    678   American Canyon       CA-N    94503   P
 90.00   IOA2/6                 $193,500.00    663   Las Vegas             NV      89101   P
 90.00   A2/6 B30/40            $314,746.52    583   Highland              CA-S    92346   P
 90.00   A2/6                   $225,248.95    699   Bourbonnais           IL      60914   P
 90.00   A2/6                   $139,233.65    566   Huachuca              AZ      85616   CO
 90.00   A2/6 B30/40            $209,521.17    630   Richmond              VA      23236   CO
 90.00   A2/6 B30/40            $224,710.90    652   Winter Haven          FL      33884   CO
 90.00   A2/6 B30/40            $561,923.65    555   Los Alamitos          CA-S    90720   P
 90.00   F30                    $206,617.20    661   Cicero                IL      60804   CO
 90.00   F30                    $190,475.03    671   Baltimore             MD      21217   CO
 90.00   IOA2/6                 $855,000.00    671   Anaheim               CA-S    92807   CO
 90.00   IOA2/6                 $315,900.00    681   Weston                FL      33326   P
 90.00   A2/6                   $211,171.29    666   Ormond Beach          FL      32174   P
 90.00   A2/6                   $197,223.22    675   Kissimmee             FL      34759   P
 90.00   A3/6 B30/40            $165,517.09    595   Chattanooga           TN      37421   P
 90.00   A3/6                   $ 84,457.10    700   Akron                 OH      44320   P
 90.00   A3/6 B30/40            $310,283.53    682   Miramar               FL      33027   P
 90.00   A2/6 B30/40            $296,853.57    601   Chicago               IL      60632   CO
 90.00   A2/6                   $ 89,826.64    650   University Park       IL      60466   CO
 90.00   A3/6                   $116,583.59    646   Saint Petersburg      FL      33712   P
 90.00   A3/6                   $ 84,015.92    558   Kansas City           MO      64134   P
 90.00   A3/6                   $ 88,551.14    580   St Louis              MO      63137   P
 90.00   A3/6                   $ 98,880.69    576   Saint Louis           MO      63136   P
 90.00   A3/6                   $287,512.03    541   Kaunakakai            HI      96748   CO
 90.00   A3/6                   $109,636.34    559   Carrollton            TX      75006   RT
 90.00   F30                    $336,814.72    597   Rialto                CA-S    92376   CO
 90.00   F30                    $163,391.52    664   Miami                 FL      33172   CO
 90.00   IOA2/6                 $351,000.00    611   Fresno                CA-N    93704   CO
 90.00   F30                    $129,519.51    544   Adrian                MI      49221   CO
 90.00   A3/6                   $229,100.98    558   Saint Paul            MN      55116   CO
 90.00   A3/6 B30/40            $988,299.27    695   Glendale              CA-S    91206   CO
 90.00   IOA2/6                 $288,900.00    601   Porterville           CA-S    93257   CO
 90.00   A2/6                   $202,077.06    611   Cape Coral            FL      33909   CO
 90.00   A2/6                   $179,878.01    591   Joliet                IL      60435   P
 90.00   IOA2/6                 $504,000.00    694   Lancaster             CA-S    93536   CO
 90.00   F30                    $ 50,251.36    758   Enid                  OK      73703   CO
 90.00   F30                    $ 76,242.41    636   Jacksonville          FL      32208   CO
 90.00   A2/6 B30/40            $270,881.52    614   Coachella             CA-S    92236   CO
 90.00   A2/6 B30/40            $647,071.35    657   San Jose              CA-N    95139   CO
 90.00   A2/6 B30/40            $401,058.26    572   Bellingham            WA      98226   CO
 90.00   A2/6                   $269,412.95    594   Palmdale              CA-S    93591   RT
 90.00   A2/6                   $628,846.92    691   Honolulu              HI      96825   CO
 90.00   A2/6                   $242,541.38    675   Fresno                CA-N    93710   P
 90.00   F30                    $112,316.18    670   Atlanta               GA      30314   RT
 90.00   F30                    $ 74,576.40    619   Davenport             IA      52802   CO
 90.00   A2/6                   $156,411.67    559   Powder Springs        GA      30127   CO
 90.00   A2/6                   $204,898.00    621   Beltsville            MD      20705   CO
 90.00   F30                    $ 71,882.36    623   Jackson               MS      39209   RT
 90.00   A2/6                   $471,695.28    649   Miami                 FL      33133   P
 90.00   A2/6                   $166,219.36    564   Pinson                AL      35126   P
 90.00   F30                    $ 69,577.54    644   Memphis               TN      38134   P
 90.00   A2/6 B30/40            $286,372.38    606   Chicago               IL      60618   CO
 90.00   A2/6 B30/40            $579,661.05    653   San Leandro           CA-N    94577   CO
 90.00   A2/6 B30/40            $107,910.19    573   Detroit               MI      48219   P
 90.00   A3/6                   $113,173.76    572   Detroit               MI      48235   CO
 90.00   A2/6                   $323,264.58    566   Vernon Hills          IL      60061   CO
 90.00   A3/6                   $ 44,925.79    600   Amarillo              TX      79104   P
 90.00   F30                    $130,196.39    552   Evergreen Park        IL      60805   CO
 90.00   A2/6                   $ 66,494.30    587   Williamsport          PA      17701   P
 90.00   A2/6                   $230,014.85    590   Lauderdale Lakes      FL      33309   CO
 90.00   A3/6                   $ 89,843.52    607   Hermitage             PA      16148   CO
 90.00   A2/6                   $ 55,724.38    682   Morganton             NC      28655   CO
 90.00   A2/6                   $ 71,910.37    660   Baltimore             MD      21216   P
 90.00   A2/6                   $ 61,096.85    654   Baltimore             MD      21217   P
 90.00   A2/6                   $ 85,377.83    594   New Johnsonville      TN      37134   P
 90.00   A2/6                   $ 93,812.88    572   Memphis               TN      38128   P
 90.00   B30/40                 $ 71,964.40    674   Detroit               MI      48219   RT
 90.00   A2/6                   $161,729.76    646   Oak Lawn              IL      60453   CO
 90.00   A2/6                   $121,318.91    569   Saint Louis           MO      63130   P
 90.00   A2/6                   $ 34,150.09    672   Kansas City           MO      64128   CO
 90.00   A2/6                   $ 71,879.65    682   Topeka                KS      66608   P
 90.00   A3/6                   $143,778.50    552   Hamilton              NJ       8610   RT
 90.00   A3/6 B30/40            $107,898.53    597   Philadelphia          PA      19124   CO
 90.00   A3/6                   $ 71,903.44    563   Jim Thorpe            PA      18229   CO
 90.00   F30                    $ 86,271.49    572   Columbus              OH      43206   CO
 90.00   F15                    $147,365.93    575   Cincinnati            OH      45224   CO
 90.00   F30                    $ 85,365.71    564   Cleburne              TX      76031   RT
 90.00   F30                    $ 94,308.50    672   Cleburne              TX      76033   RT
 90.00   A2/6 B30/40            $193,413.95    578   Fresno                CA-N    93702   P
 90.00   IOA2/6                 $486,000.00    610   Modesto               CA-N    95356   CO
 90.00   A2/6 B30/40            $422,726.08    595   Stockton              CA-N    95205   CO
 90.00   A2/6                   $584,081.23    689   Bell                  CA-S    90201   P
 90.00   A2/6 B30/40            $213,101.16    588   Avondale              AZ      85323   P
 90.00   F30                    $143,741.78    594   El Mirage             AZ      85335   CO
 90.00   A3/6 B30/40            $ 76,441.06    619   Granite City          IL      62040   RT
 90.00   F30                    $ 97,031.01    563   Joliet                IL      60436   CO
 90.00   B30/40                 $161,885.87    569   Dekalb                IL      60115   RT
 90.00   A3/6                   $103,320.07    569   Rockford              IL      61108   CO
 90.00   A3/6 B30/40            $122,285.90    585   Beaumont              TX      77708   RT
 90.00   F30                    $147,343.38    566   Saint Paul            MN      55103   CO
 90.00   A3/6 B30/40            $211,352.98    576   Island Lake           IL      60042   CO
 90.00   A3/6                   $148,241.81    569   Chicago               IL      60628   CO
 90.00   A3/6                   $108,710.65    568   Mansfield             IL      61854   CO
 90.00   A3/6 B30/40            $ 66,562.96    550   Rockford              IL      61109   CO
 90.00   A2/6                   $115,045.51    581   Baton Rouge           LA      70814   RT
 90.00   A3/6 B30/40            $141,240.29    616   Vero Beach            FL      32962   CO
 90.00   A2/6 B30/40            $233,826.62    593   Davie                 FL      33314   P
 90.00   A3/6                   $ 53,944.85    784   Lithonia              GA      30058   P
 90.00   A2/6                   $112,368.05    657   Wisconsin Rapids      WI      54494   CO
 90.00   A2/6                   $ 76,435.56    556   Memphis               TN      38118   P
 90.00   A3/6                   $ 89,912.97    525   Little Rock           AR      72205   CO
 90.00   F30                    $112,393.48    555   Missouri City         TX      77489   RT
 90.00   A3/6                   $ 80,915.52    562   Williamsport          PA      17701   RT
 90.00   A2/6                   $209,962.90    737   Westford              MA       1886   P
 90.00   B30/40                 $238,293.08    639   Egg Harbor Township   NJ       8234   CO
 90.00   A3/6                   $193,276.08    733   Miami                 FL      33178   P
 90.00   A3/6                   $121,403.85    603   Detroit               MI      48204   P
 90.00   A3/6                   $ 80,936.72    565   Greensboro            NC      27403   P
 90.00   A2/6 B30/40            $287,843.77    588   Lake Worth            FL      33463   CO
 90.00   IOA2/6                 $218,700.00    616   Miami                 FL      33169   CO
 90.00   IOA2/6                 $274,500.00    651   Temple Hills          MD      20748   CO
 90.00   F30                    $283,119.81    584   Leominster            MA       1453   CO
 90.00   A2/6                   $ 76,379.09    567   Chattanooga           TN      37406   CO
 90.00   A2/6                   $ 57,555.38    628   Memphis               TN      38127   P
 90.00   A3/6                   $ 77,309.69    650   Detroit               MI      48213   P
 90.00   A3/6                   $ 74,609.17    650   Detroit               MI      48212   P
 90.00   A2/6                   $130,372.46    573   Hellertown            PA      18055   CO
 90.00   A2/6                   $161,857.59    601   High Point            NC      27265   P
 90.00   A3/6                   $170,770.69    607   Chicago               IL      60628   CO
 90.00   A2/6 B30/40            $194,231.33    669   Palatine              IL      60074   RT
 90.00   A3/6                   $220,188.20    569   Plainfield            IL      60586   CO
 90.00   A3/6 B30/40            $148,452.13    558   Gurnee                IL      60031   RT
 90.00   A2/6                   $157,803.37    559   Katy                  TX      77494   P
 90.00   A3/6                   $166,362.74    582   Pennsauken            NJ       8110   CO
 90.00   A3/6                   $156,347.04    680   Tunkhannock           PA      18657   CO
 90.00   IOA3/6                 $228,600.00    605   Goodyear              AZ      85338   CO
 90.00   F30                    $188,813.34    553   Chicago               IL      60617   CO
 90.00   A3/6                   $ 85,262.33    736   Jacksonville          FL      32206   CO
 90.00   A3/6                   $256,190.67    604   Amite                 LA      70422   CO
 90.00   A3/6                   $108,753.96    560   Gainesville           GA      30507   CO
 90.00   F30                    $289,570.66    614   Valdosta              GA      31601   CO
 90.00   A2/6 B30/40            $223,066.02    626   Baltimore             MD      21227   CO
 90.00   A2/6 B30/40            $305,818.75    651   Camden                DE      19934   CO
 90.00   A3/6                   $213,058.21    627   Stickney              IL      60402   CO
 90.00   A3/6                   $191,521.92    607   Pompano Beach         FL      33060   CO
 90.00   A3/6                   $350,736.81    578   Bellingham            MA       2019   CO
 90.00   A3/6                   $ 92,629.14    556   Harrisburg            PA      17110   CO
 90.00   A3/6                   $143,437.22    550   Sherwood              AR      72120   P
 90.00   A2/6                   $202,332.69    645   Porterville           CA-S    93257   P
 90.00   A2/6                   $122,274.98    575   Winston Salem         NC      27127   P
 90.00   A2/6                   $202,258.80    643   Cordova               TN      38018   CO
 90.00   A2/6                   $206,784.54    658   Bridgeview            IL      60455   P
 90.00   A2/6                   $160,891.73    611   Round Lake Beach      IL      60073   CO
 90.00   A2/6                   $242,741.73    604   Berkeley              IL      60163   CO
 90.00   A2/6                   $109,691.32    663   Spring                TX      77373   P
 90.00   A2/6                   $244,508.40    646   Lauderhill            FL      33351   P
 90.00   A2/6                   $ 80,921.67    653   Saint Louis           MO      63115   P
 90.00   A2/6                   $251,378.45    637   Charleroi             PA      15022   CO
 90.00   IOA2/6                 $103,500.00    675   Sacramento            CA-N    95823   P
 90.00   IOA2/6                 $202,500.00    659   Midlothian            IL      60445   CO
 90.00   A2/6 B30/40            $198,048.52    595   Portland              OR      97236   CO
 90.00   A2/6 B30/40            $211,426.23    630   Phoenix               AZ      85015   CO
 90.00   A2/6 B30/40            $152,923.74    593   Tolleson              AZ      85353   CO
 90.00   A2/6 B30/40            $214,108.14    547   Phoenix               AZ      85020   CO
 90.00   A2/6 B30/40            $188,894.15    669   Coral Springs         FL      33067   P
 90.00   A2/6 B30/40            $238,426.31    599   El Mirage             AZ      85335   CO
 90.00   A2/6 B30/40            $143,922.04    582   Albuquerque           NM      87108   CO
 90.00   A2/6 B30/40            $193,317.53    607   Cornelius             OR      97113   CO
 90.00   A2/6 B30/40            $229,409.74    612   Mesa                  AZ      85201   P
 90.00   A2/6 B30/40            $118,748.15    561   Jackson               TN      38305   P
 90.00   A2/6 B30/40            $179,901.36    574   Braidwood             IL      60408   CO
 90.00   A3/6                   $186,931.68    641   Bonner Springs        KS      66012   CO
 90.00   A3/6                   $127,613.49    608   Houston               TX      77060   RT
 90.00   A3/6                   $161,779.65    612   Ruskin                FL      33570   CO
 90.00   A3/6                   $ 89,897.99    647   Detroit               MI      48219   P
 90.00   IOA3/6                 $ 94,500.00    613   Monongahela           PA      15063   CO
 90.00   IOA3/6                 $252,000.00    677   Pleasantville         NJ       8232   P
 90.00   A3/6 B30/40            $188,894.47    598   Albuquerque           NM      87112   CO
 90.00   A3/6 B30/40            $172,183.95    605   Fresno                CA-N    93702   CO
 90.00   A3/6 B30/40            $238,414.26    609   Sanit Petersburg      FL      33712   CO
 90.00   A3/6 B30/40            $152,032.61    587   Sunrise               FL      33313   CO
 90.00   A3/6 B30/40            $137,631.06    587   Lakeland              FL      33801   P
 90.00   B15/30                 $ 33,955.90    667   Pomona                CA-S    91766   P
 90.00   A2/6                   $ 80,922.48    559   Hamburg               PA      19526   P
 90.00   A2/6                   $102,549.24    662   Nashville             TN      37216   P
 90.00   A2/6                   $175,297.32    750   Winter Park           FL      32782   P
 90.00   A2/6                   $179,723.86    760   Orlando               FL      32822   P
 90.00   A2/6                   $139,347.03    640   Newton                IA      50208   P
 90.00   F30                    $160,533.63    528   Manhattan             KS      66502   P
 90.00   A2/6                   $238,246.50    597   Palmetto              FL      34221   P
 90.00   A2/6                   $247,276.56    657   Flint                 TX      75762   P
 90.00   A2/6                   $ 38,231.17    661   Indianapolis          IN      46235   P
 90.00   A2/6                   $337,355.07    657   Las Vegas             NV      89139   P
 90.00   A2/6                   $ 38,231.17    661   Indianapolis          IN      46235   P
 90.00   A2/6                   $188,799.13    588   Richmond              VA      23233   CO
 90.00   A2/6                   $103,377.97    600   Caldwell              ID      83605   P
 90.00   A2/6                   $210,354.18    635   North Port            FL      34286   P
 90.00   A2/6                   $ 84,086.34    555   Middletown            OH      45044   P
 90.00   F30                    $305,583.79    598   Margate               FL      33063   CO
 90.00   IOA2/6                 $620,100.00    606   Ridgewood             NY      11385   P
 90.00   F30                    $260,660.83    646   Nampa                 ID      83687   CO
 90.00   A2/6                   $290,013.26    564   Fall Fiver            MA       2721   P
 90.00   F30                    $ 71,923.47    643   Macon                 GA      31204   CO
 90.00   A2/6                   $168,981.24    591   Austell               GA      30106   CO
 90.00   F30                    $ 80,918.30    608   Chillicothe           OH      45601   CO
 90.00   A2/6                   $219,345.76    638   Eagle                 ID      83616   P
 90.00   A2/6                   $114,200.57    556   Caldwell              ID      83607   CO
 90.00   A2/6                   $166,261.83    598   Upper Marlboro        MD      20774   CO
 90.00   A2/6                   $ 85,430.26    587   Philadelphia          PA      19131   P
 90.00   A2/6                   $240,917.60    604   Homestead             FL      33032   P
 90.00   A2/6                   $ 97,510.72    586   Fleetwood             PA      19522   P
 90.00   A2/6                   $121,335.65    645   Albuquerque           NM      87120   P
 90.00   F30                    $ 47,670.60    649   Waco                  TX      76711   P
 90.00   A2/6                   $257,851.38    566   Rex                   GA      30273   CO
 90.00   A2/6                   $295,512.67    551   Stone Mountain        GA      30087   CO
 90.00   A2/6 B30/40            $170,916.25    591   Providence            RI       2909   P
 90.00   B30/40                 $352,548.72    600   Hialeah               FL      33012   CO
 90.00   A2/6                   $193,394.09    679   Providence            RI       2909   P
 90.00   A2/6                   $309,260.51    667   Providence            RI       2905   CO
 90.00   IOA2/6                 $216,000.00    519   West Warwick          RI       2893   CO
 90.00   F30                    $229,779.35    678   Jacksonville          FL      32257   RT
 90.00   A2/6                   $141,122.63    651   Pinellas Park         FL      33781   P
 90.00   A2/6                   $129,032.77    603   Oklahoma City         OK      73099   P
 90.00   A2/6                   $211,191.33    640   Sarasota              FL      34233   CO
 90.00   IOA2/6                 $337,500.00    621   Atlanta               GA      30324   CO
 90.00   A2/6                   $190,499.93    661   Yuma                  AZ      85364   CO
 90.00   A2/6                   $ 53,928.48    613   Detroit               MI      48215   CO
 90.00   A2/6 B30/40            $135,410.06    607   West Warwick          RI       2893   CO
 90.00   IOA2/6                 $272,070.00    613   Boynton Beach         FL      33435   P
 90.00   A2/6                   $189,270.61    616   Geismar               LA      70734   CO
 90.00   IOA2/6                 $580,500.00    610   Hollister             CA-N    95023   CO
 90.00   A2/6 B30/40            $197,920.22    768   Fitchburg             MA       1420   CO
 90.00   A2/6                   $449,546.11    622   Norwich               CT       6360   CO
 90.00   IOA2/6                 $616,500.00    718   Pasadena              CA-S    91107   P
 90.00   A2/6 B30/40            $404,731.28    612   Palmdale              CA-S    93550   CO
 90.00   A2/6 B30/40            $782,683.63    612   Punta Gorda           FL      33950   CO
 90.00   A3/6 B30/40            $166,362.86    619   Beach Park            IL      60087   P
 90.00   A2/6                   $341,676.18    633   O'Fallon              MO      63368   CO
 90.00   A2/6 B30/40            $ 88,164.04    627   Jackson               MI      49201   CO
 90.00   IOA2/6                 $306,000.00    621   Chowchilla            CA-N    93610   CO
 90.00   A2/6                   $102,974.14    614   Coeur D Alene         ID      83814   P
 90.00   A2/6 B30/40            $314,760.23    606   New Market            MN      55054   CO
 90.00   A2/6 B30/40            $502,947.32    638   Chino Hills           CA-S    91709   CO
 90.00   A2/6 B30/40            $ 94,484.70    619   Saint Petersburg      FL      33713   P
 90.00   IOA2/6                 $544,500.00    636   Kahului               HI      96732   CO
 90.00   A2/6 B30/40            $188,944.37    624   Pueblo West           CO      81007   RT
 90.00   A2/6 B30/40            $265,328.80    623   Port Orange           FL      32128   CO
 90.00   A2/6 B30/40            $427,382.75    660   Danbury               CT       6810   CO
 90.00   A2/6 B30/40            $401,276.42    654   Vallejo               CA-N    94591   CO
 90.00   A2/6                   $282,335.22    698   Hesperia              CA-S    92345   P
 90.00   IOA2/6                 $165,600.00    636   Colbert               GA      30628   CO
 90.00   A2/6 B30/40            $ 51,272.93    716   Saint Louis           MO      63130   P
 90.00   A2/6 B30/40            $192,553.01    621   Winnebago             IL      61088   CO
 90.00   A2/6                   $130,327.81    603   Cantonment            FL      32533   CO
 90.00   A2/6                   $117,807.87    638   Buhl                  ID      83316   CO
 90.00   A2/6                   $107,898.81    663   Milwaukee             WI      53209   CO
 90.00   A2/6 B30/40            $346,443.09    629   Honolulu              HI      96815   P
 90.00   A2/6                   $ 95,312.02    796   Greenwood             SC      29646   P
 90.00   A2/6 B30/40            $ 59,749.17    609   Milwaukee             WI      53223   P
 90.00   A2/6                   $ 89,136.21    617   Damascus              VA      24236   CO
 90.00   A2/6                   $186,083.73    632   Crystal Lake          IL      60014   P
 90.00   A2/6                   $ 96,175.50    690   Eastlake              OH      44095   RT
 90.00   A2/6 B30/40            $159,265.20    605   Spring Hill           FL      34609   P
 90.00   A3/6                   $157,260.76    664   Elgin                 IL      60120   CO
 90.00   A2/6 B30/40            $ 63,889.34    602   El Paso               TX      79930   P
 90.00   A2/6 B30/40            $269,898.76    637   Elwood                UT      84337   P
 90.00   A2/6 B30/40            $118,759.29    814   Beaver                UT      84713   P
 90.00   A2/6 B30/40            $494,714.64    624   Mesa                  AZ      85212   CO
 90.00   IOA2/6                 $342,000.00    605   Foresthill            CA-N    95631   CO
 90.00   A2/6                   $161,723.98    630   Tulare                CA-S    93274   P
 90.00   A2/6                   $129,379.26    666   Detroit               MI      48221   CO
 90.00   IOA2/6                 $468,000.00    631   Miami                 FL      33190   CO
 90.00   A2/6 B30/40            $147,568.18    682   Homestead             FL      33033   P
 90.00   A2/6 B30/40            $355,392.11    604   Depoe Bay             OR      97341   CO
 90.00   A2/6                   $233,875.47    617   North Fort Myers      FL      33903   P
 90.00   A2/6 B30/40            $224,781.05    660   Whitinsville          MA       1588   CO
 90.00   A2/6 B30/40            $134,930.90    613   Oakland               MD      21550   CO
 90.00   A3/6 B30/40            $183,553.28    631   Williamsburg          VA      23188   P
 90.00   IOA2/6                 $490,500.00    646   Bronx                 NY      10472   CO
 90.00   A2/6                   $215,874.43    663   Pawtucket             RI       2860   CO
 90.00   F30                    $ 78,142.71    631   Chicago               IL      60628   P
 90.34   A2/6                   $238,105.42    641   Area Of Lancaster     CA-S    93536   P
 90.61   F20                    $ 89,247.14    630   Garland               TX      75040   RT
 90.77   B30/40                 $213,156.45    618   Levittown             PA      19054   RT
 90.91   B30/40                 $299,570.04    611   Las Vegas             NV      89031   RT
 91.00   A3/6                   $ 59,047.17    554   Marion                WI      54950   RT
 91.09   A2/6 B30/40            $234,866.85    618   Bel Air               MD      21014   CO
 91.35   A2/6 B30/40            $237,346.66    696   Oak Forest            IL      60452   CO
 91.50   F30                    $147,972.27    620   Dawson                IL      62520   RT
 91.70   A2/6                   $150,889.03    604   Elyria                OH      44035   RT
 91.83   A2/6                   $426,218.46    645   Union                 NJ       7083   RT
 91.84   IOA2/6                 $225,000.00    691   Homestead             FL      33032   P
 91.98   A2/6 B30/40            $418,287.31    593   Bend                  OR      97701   CO
 92.00   F20                    $ 76,901.77    728   Fort Worth            TX      76115   RT
 92.81   F30                    $120,477.41    619   Idaho Falls           ID      83401   CO
 93.33   A3/6                   $405,070.28    629   Menifee               CA-S    92584   CO
 93.41   F30                    $ 84,372.13    644   Los Fresnos           TX      78566   RT
 93.42   F30                    $ 39,950.23    681   Duarte                CA-S    91010   CO
 93.44   A2/6 B30/40            $113,924.76    570   Fort Myers            FL      33905   CO
 93.66   B15/30                 $ 29,934.21    654   Kenosha               WI      53140   RT
 93.68   A3/6 B30/40            $541,927.33    580   Peabody               MA       1960   CO
 94.22   A2/6                   $103,550.94    559   Houston               TX      77014   RT
 94.29   IOA2/6                 $165,000.00    606   Aurora                CO      80011   CO
 94.34   A2/6 B30/40            $749,125.71    636   Westminster           CA-S    92683   CO
 94.38   A2/6                   $150,655.84    605   Indianapolis          IN      46219   CO
 94.50   A3/6 B30/40            $170,041.04    579   Opa Locka             FL      33054   P
 94.51   IOA2/6                 $182,400.00    601   Elgin                 IL      60120   CO
 94.60   A2/6                   $297,666.36    610   Chico                 CA-N    95926   CO
 94.64   IOA2/6                 $548,889.93    602   Elk Grove             CA-N    95624   CO
 94.64   A2/6                   $139,033.72    633   Tampa                 FL      33610   P
 94.74   A2/6 B30/40            $269,875.07    602   Fresno                CA-N    93726   CO
 94.78   IOA5/6                 $218,000.00    716   Tampa                 FL      33625   CO
 94.81   IOA3/6                 $384,000.00    703   Sacramento            CA-N    95833   CO
 94.84   F30                    $ 57,714.18    642   Barberton             OH      44203   P
 94.92   F30                    $ 39,356.80    706   Mckinney              TX      75070   RT
 94.97   B15/30                 $ 45,339.23    772   Las Vegas             NV      89123   P
 94.98   A2/6                   $149,344.70    743   Chicago               IL      60617   P
 94.99   B15/30                 $ 32,314.06    629   Lynnwood              WA      98037   P
 95.00   A2/6 B30/40            $407,602.26    641   Santa Ana             CA-S    92706   CO
 95.00   A2/6 B30/40            $332,091.60    670   Modesto               CA-N    95358   P
 95.00   B15/30                 $ 62,650.40    602   Stuart                FL      34997   CO
 95.00   A2/6                   $224,590.37    648   Sunny Isles Beach     FL      33160   P
 95.00   A2/6                   $ 59,228.22    754   Greenville            SC      29611   P
 95.00   IOA2/6                 $313,500.00    670   Banning               CA-S    92220   CO
 95.00   A2/6                   $188,692.88    593   Middle River          MD      21220   CO
 95.00   A2/6                   $269,067.12    592   Royal Palm Beach      FL      33411   CO
 95.00   A2/6                   $293,840.20    606   Orlando               FL      32817   CO
 95.00   A2/6                   $161,051.34    652   Orlando               FL      32804   CO
 95.00   A2/6                   $251,185.99    634   East Haven            CT       6513   CO
 95.00   IOA2/6                 $218,500.00    696   San Jacinto           CA-S    92582   CO
 95.00   A2/6 B30/40            $270,544.47    707   Cheshire              CT       6410   CO
 95.00   A2/6                   $379,477.23    702   Homestead             FL      33033   P
 95.00   IOA2/6                 $220,183.97    611   Ridgecrest            CA-S    93555   CO
 95.00   F30                    $132,642.89    681   Midwest City          OK      73130   CO
 95.00   A2/6 B30/40            $242,114.70    573   Frankfort             IL      60423   CO
 95.00   A2/6 B30/40            $246,747.48    627   North Las Vegas       NV      89031   CO
 95.00   F30                    $126,138.72    612   College Park          GA      30337   CO
 95.00   A2/6 B30/40            $303,744.97    608   Upper Marlboro        MD      20772   CO
 95.00   IOA2/6                 $398,050.00    639   Las Vegas             NV      89139   CO
 95.00   A2/6 B30/40            $132,874.57    629   Green Cove Springs    FL      32043   CO
 95.00   F30                    $142,150.96    607   Saint Charles         MO      63301   RT
 95.00   A2/6 B30/40            $403,477.48    712   Riverside             CA-S    92506   CO
 95.00   A2/6 B30/40            $336,945.37    614   Whittier              CA-S    90601   P
 95.00   A2/6                   $341,597.43    615   Naperville            IL      60540   CO
 95.00   IOA2/6                 $342,000.00    755   Henderson             NV      89015   P
 95.00   A2/6                   $198,645.36    649   Miramar               FL      33023   P
 95.00   A3/6 B30/40            $155,625.29    595   Grayson               GA      30017   P
 95.00   A3/6 B30/40            $108,258.83    556   Antioch               TN      37013   P
 95.00   A2/6                   $355,505.02    594   Los Angeles           CA-S    90002   P
 95.00   IOA2/6                 $103,550.00    682   Commerce City         CO      80022   P
 95.00   F30                    $ 93,624.55    635   Santa Fe              NM      87508   CO
 95.00   A2/6                   $ 60,675.74    588   Mount Pocono          PA      18344   P
 95.00   B15/30                 $ 24,718.52    610   Orlando               FL      32818   P
 95.00   F30                    $ 94,778.95    583   Clinton               MO      64735   CO
 95.00   A3/6                   $191,497.45    671   Springfield           MA       1108   CO
 95.00   A2/6                   $153,650.63    660   Portsmouth            VA      23704   P
 95.00   A3/6                   $ 61,659.87    631   New Waterford         OH      44445   CO
 95.00   A2/6                   $180,213.53    683   Brandon               FL      33510   P
 95.00   F30                    $109,060.06    596   Riverdale             IL      60827   CO
 95.00   B30/40                 $270,561.79    622   Northlake             IL      60164   CO
 95.00   F30                    $119,577.62    577   Katy                  TX      77449   RT
 95.00   F30                    $102,421.63    579   Memphis               TN      38133   CO
 95.00   B15/30                 $ 45,715.33    754   Naples                FL      34113   P
 95.00   A2/6                   $204,023.22    678   Kissimmee             FL      34741   P
 95.00   A3/6                   $175,612.40    589   Warren                MI      48089   CO
 95.00   F30                    $ 41,975.26    613   Newport News          VA      23601   CO
 95.00   A2/6                   $107,250.27    673   Tampa                 FL      33605   P
 95.00   A2/6 B30/40            $223,123.95    622   Orlando               FL      32808   P
 95.00   A2/6                   $158,512.01    661   Coral Springs         FL      33065   P
 95.00   IOA3/6                 $270,750.00    627   Plantation            FL      33317   CO
 95.00   A3/6                   $128,141.74    591   Sevierville           TN      37876   CO
 95.00   A3/6                   $379,354.47    614   Malabar               FL      32950   P
 95.00   A3/6                   $108,177.23    680   Kansas City           MO      64131   CO
 95.00   A3/6 B30/40            $237,358.46    603   Sacramento            CA-N    95820   CO
 95.00   B30/40                 $142,400.95    588   Fountain              CO      80817   CO
 95.00   A2/6                   $434,720.78    628   El Monte              CA-S    91732   P
 95.00   A3/6                   $121,448.97    590   Jacksonville          FL      32244   CO
 95.00   A2/6                   $226,583.80    632   Ocala                 FL      34472   P
 95.00   A2/6 B30/40            $322,845.27    639   Avondale              AZ      85323   CO
 95.00   A2/6                   $284,067.49    655   Lexington Park        MD      20653   CO
 95.00   A3/6                   $ 66,540.11    585   Santa Rosa            TX      78593   P
 95.00   A3/6                   $104,358.37    584   Crystal City          MO      63019   P
 95.00   A3/6                   $160,414.77    576   Counrty Club Hills    IL      60478   P
 95.00   A2/6                   $151,832.98    668   Tacoma                WA      98404   P
 95.00   A2/6 B30/40            $465,322.82    702   Anaheim               CA-S    92805   P
 95.00   A2/6 B30/40            $122,517.01    594   Kansas City           MO      64133   P
 95.00   A3/6                   $298,509.45    628   Plano                 TX      75093   P
 95.00   A3/6                   $123,341.96    696   Richmond              VA      23223   CO
 95.00   B15/30                 $ 70,156.38    656   San Diego             CA-S    92114   CO
 95.00   B15/30                 $ 56,498.19    692   Las Vegas             NV      89141   P
 95.00   A3/6                   $ 73,045.68    656   Radcliff              KY      40160   CO
 95.00   A2/6                   $ 61,684.36    614   Wilkes Berre          PA      18702   P
 95.00   A2/6                   $133,800.03    580   Middletown            PA      17057   P
 95.00   A2/6 B30/40            $146,757.39    563   Amelia                OH      45102   P
 95.00   B30/40                 $163,366.28    535   Brandon               MS      39047   P
 95.00   A2/6                   $ 75,917.52    645   Philadelphia          PA      19144   P
 95.00   A2/6                   $ 97,765.80    573   Fargo                 ND      58103   P
 95.00   IOA2/6                 $643,473.00    737   Jamaica               NY      11412   P
 95.00   A2/6 B30/40            $136,184.72    565   Lowell                IN      46356   P
 95.00   F25                    $ 72,026.78    684   Cincinnati            OH      45223   CO
 95.00   A2/6                   $127,129.45    630   Rustburg              VA      24588   CO
 95.00   B30/40                 $164,261.48    682   Phoenix               AZ      85009   CO
 95.00   F30                    $171,708.93    603   Port Richey           FL      34668   RT
 95.00   F30                    $158,435.94    659   Greenfield            MA       1301   CO
 95.00   A2/6                   $141,991.01    552   West Fargo            ND      58078   RT
 95.00   B30/40                 $ 71,215.61    666   Dallas                TX      75232   P
 95.00   A2/6                   $399,548.70    730   Ridgewood             NY      11385   P
 95.00   A2/6                   $ 91,972.34    664   Clarksville           TN      37042   RT
 95.00   A2/6                   $208,816.59    619   Westmont              NJ       8108   CO
 95.00   A2/6                   $244,986.66    685   Montgomery            OH      45242   P
 95.00   A2/6                   $113,400.51    673   Richton Park          IL      60471   P
 95.00   A2/6                   $128,119.59    551   Bayfield              CO      81122   P
 95.00   A2/6                   $259,224.00    708   Brunswick             ME       4011   P
 95.00   A2/6                   $170,706.23    571   Burleson              TX      76028   RT
 95.00   A2/6                   $ 40,785.96    719   Indianapolis          IN      46224   P
 95.00   A2/6                   $ 40,694.35    668   Indianapolis          IN      46235   P
 95.00   A2/6                   $ 73,058.17    568   South Bend            IN      46628   P
 95.00   IOA2/6                 $198,075.00    697   Mcdonough             GA      30252   P
 95.00   A2/6                   $122,064.68    558   Glenn Heights         TX      75154   P
 95.00   A2/6                   $ 73,500.24    717   Houston               TX      77042   P
 95.00   A2/6                   $ 56,905.88    720   Baltimore             MD      21215   P
 95.00   A2/6                   $113,853.01    622   College Park          GA      30349   P
 95.00   A2/6                   $165,927.55    612   Orlando               FL      32808   P
 95.00   A2/6                   $170,671.55    603   Southfield            MI      48075   P
 95.00   A2/6                   $ 70,999.36    613   Union City            GA      30291   P
 95.00   A2/6                   $ 89,446.00    641   Hollis                ME       4042   P
 95.00   A2/6                   $ 55,023.07    570   Houston               TX      77099   P
 95.00   B15/30                 $ 49,305.98    673   Fort Lauderdale       FL      33304   CO
 95.00   F30                    $402,923.55    649   Saint Albans          NY      11412   CO
 95.00   A2/6                   $332,116.00    657   Union                 NJ       7083   CO
 95.00   A2/6 B30/40            $212,186.12    668   Visalia               CA-S    93291   CO
 95.00   A2/6                   $122,415.32    630   Dickinson             ND      58601   CO
 95.00   IOA2/6                 $280,250.00    679   Davenport             FL      33897   P
 95.00   A2/6 B30/40            $104,446.53    615   Wilmington            NC      28405   CO
 95.00   A2/6 B30/40            $275,415.18    633   Amherst               MA       1002   CO
 95.00   A2/6 B30/40            $237,154.79    612   Lynn                  MA       1905   CO
 95.00   A2/6 B30/40            $280,155.43    630   Naples                FL      34104   CO
 95.00   A2/6 B30/40            $216,412.08    634   Wilbraham             MA       1095   CO
 95.00   A2/6 B30/40            $246,935.62    652   Hartford              WI      53027   CO
 95.00   A2/6 B30/40            $204,201.60    674   Palm Desert           CA-S    92260   P
 95.00   A2/6 B30/40            $265,851.46    601   Baltimore             MD      21206   CO
 95.00   A2/6                   $150,931.99    747   Miami                 FL      33142   P
 95.00   A2/6 B30/40            $498,589.19    638   Newark                NJ       7103   P
 95.00   A2/6                   $229,731.68    679   Riverside             CA-S    92509   P
 95.00   A2/6                   $ 57,880.97    652   Memphis               TN      38109   CO
 95.00   IOA2/6                 $432,250.00    629   Crestline             CA-S    92325   CO
 95.00   A2/6 B30/40            $265,839.34    703   Chicago               IL      60621   CO
 95.00   A2/6 B30/40            $261,147.54    631   Millville             NJ       8332   P
 95.00   A2/6                   $389,071.99    630   Covina                CA-S    91724   P
 95.00   A2/6                   $264,335.07    616   Westbrook             ME       4092   CO
 95.00   A2/6 B30/40            $200,207.46    746   Reading               PA      19606   P
 95.00   A2/6                   $104,404.13    745   San Leon              TX      77539   P
 95.00   IOA2/6                 $460,750.00    622   Corona                CA-S    92883   RT
 95.00   IOA2/6                 $266,000.00    682   Brawley               CA-S    92227   CO
 95.00   A2/6 B30/40            $ 80,730.00    649   Gary                  IN      46408   P
 95.00   A2/6                   $246,809.09    754   Fall River            MA       2723   CO
 95.00   A2/6 B30/40            $199,380.25    602   Fountain              CO      80817   CO
 95.00   A2/6 B30/40            $389,085.51    647   Las Vegas             NV      89138   CO
 95.00   A2/6 B30/40            $294,430.22    609   Lancaster             CA-S    93534   CO
 95.00   A2/6                   $ 98,645.37    622   Allentown             PA      18102   CO
 95.00   A2/6                   $106,286.62    649   Dallas                TX      75227   P
 95.00   A2/6 B30/40            $360,866.65    651   Stockton              CA-N    95203   CO
 95.00   A3/6 B30/40            $223,134.18    628   Bourbonnais           IL      60914   P
 95.00   A2/6 B30/40            $165,212.89    749   Beaver                PA      15009   CO
 95.00   A2/6 B30/40            $101,631.30    610   Chicago               IL      60617   P
 95.00   A2/6 B30/40            $147,168.68    608   Springfield           MA       1129   CO
 95.00   A2/6 B30/40            $474,909.95    718   Downey                CA-S    90242   P
 95.00   A2/6 B30/40            $124,423.01    604   Lincoln               NE      68506   RT
 95.00   A2/6 B30/40            $ 70,291.82    625   Sparta                TN      38583   P
 95.00   A2/6 B30/40            $394,033.01    662   Hobe Sound            FL      33455   CO
 95.00   A2/6 B30/40            $351,327.97    661   San Jacinto           CA-S    92583   P
 95.00   A2/6                   $289,428.95    633   Lincoln University    PA      19352   P
 95.00   A2/6                   $234,420.66    677   Washington            NH       3280   P
 95.00   A2/6                   $218,342.65    727   West Warrick          RI       2893   CO
 95.00   IOA2/6                 $275,500.00    649   Opa Locka             FL      33141   RT
 95.88   A2/6                   $162,742.37    608   Indianapolis          IN      46226   RT
 95.93   A3/6                   $564,288.68    653   Bourne                MA       2532   RT
 96.90   F30                    $140,255.74    646   Belvidere             IL      61008   RT
 97.00   A2/6                   $129,671.32    693   Windsor               CT       6095   P
 97.00   F30                    $130,798.78    621   Perry                 MI      48872   CO
 97.16   B15/30                 $ 63,431.29    631   Chicago               IL      60607   CO
 98.93   F30                    $184,588.82    686   Shreveport            LA      71129   CO
 98.96   A2/6 B30/40            $285,796.30    667   Peoria                AZ      85345   CO
 99.00   F30                    $ 62,590.59    637   Honolulu              HI      96818   CO
 99.00   B15/30                 $ 98,833.89    609   Escondido             CA-S    92026   CO
 99.60   A2/6                   $251,651.86    549   Cranston              RI       2910   P
 99.82   F30                    $ 54,956.28    659   Nottingham            MD      21236   P
 99.85   B15/30                 $ 58,892.93    694   Worcester             MA       1605   P
 99.94   B15/30                 $ 33,569.84    674   Spring                TX      77379   P
 99.95   F30                    $ 37,532.48    607   Austin                TX      78702   P
 99.95   A3/6                   $ 72,243.16    630   Muskegon              MI      49442   P
 99.95   B15/30                 $ 19,177.95    626   Mobile                AL      36618   P
 99.95   B15/30                 $ 21,102.67    687   Houston               TX      77041   P
 99.95   F30                    $ 19,132.80    685   Katy                  TX      77449   P
 99.96   F30                    $ 25,418.00    608   Indianapolis          IN      46224   P
 99.96   B15/30                 $ 55,351.88    645   Lehigh Acres          FL      33972   P
 99.96   B15/30                 $ 27,114.75    630   Kasson                MN      55944   P
 99.96   B15/30                 $ 40,816.79    655   Punta Gorda           FL      33983   P
 99.96   F30                    $ 23,528.85    649   Carrollton            TX      75007   P
 99.97   F30                    $ 73,260.66    615   Summit                MS      39666   P
 99.97   B15/30                 $ 35,894.99    680   Jacksonville          FL      32216   P
 99.97   B15/30                 $ 32,376.23    622   Maryland Heights      MO      63043   P
 99.97   F30                    $ 23,667.94    682   Houston               TX      77085   P
 99.98   F30                    $ 24,504.58    658   Katy                  TX      77449   P
 99.98   B15/30                 $ 99,666.28    662   Seattle               WA      98125   P
 99.98   B15/30                 $ 48,518.46    630   Cape Coral            FL      33909   P
 99.98   B15/30                 $ 35,277.58    637   Lexington Park        MD      20653   P
 99.98   B15/30                 $ 48,133.96    668   Wylie                 TX      75098   P
 99.98   B15/30                 $ 45,925.76    644   Plainfield            IL      60586   P
 99.98   F20                    $ 42,096.64    780   Dearborn              MI      48126   P
 99.98   B15/30                 $ 48,466.29    630   South Bend            IN      46614   P
 99.98   B15/30                 $ 44,823.34    654   Las Vegas             NV      89106   P
 99.99   B15/30                 $168,536.01    683   Elk Grove             CA-N    95757   P
 99.99   B15/30                 $ 79,807.65    626   Waldorf               MD      20603   P
 99.99   B15/30                 $ 29,909.49    642   Houston               TX      77073   P
100.00   B15/30                 $ 88,574.11    715   Homestead             FL      33033   P
100.00   F20                    $ 29,209.36    615   Tinley Park           IL      60477   P
100.00   B15/30                 $ 74,768.39    635   Palmdale              CA-S    93552   P
100.00   A2/6                   $157,980.69    646   Clarksville           TN      37042   CO
100.00   B15/30                 $ 99,462.63    675   Wildomar              CA-S    92595   P
100.00   B15/30                 $ 85,718.03    623   Huntington Beach      CA-S    92646   P
100.00   B15/30                 $ 59,856.75    622   Miami                 FL      33177   P
100.00   B15/30                 $ 61,862.42    631   Miami Gardens         FL      33055   P
100.00   B15/30                 $ 74,679.72    719   Miami                 FL      33177   P
100.00   B15/30                 $ 35,878.89    704   Homestead             FL      33030   P
100.00   B15/30                 $101,723.31    630   Costa Mesa            CA-S    92626   P
100.00   B15/30                 $ 48,042.61    634   Manchester            MI      48158   P
100.00   B15/30                 $102,094.82    693   San Diego             CA-S    92105   CO
100.00   B15/30                 $ 17,918.05    709   La Salle              CO      80645   P
100.00   B15/30                 $ 53,141.23    641   Fort Myers            FL      33912   P
100.00   B15/30                 $ 63,245.16    710   Lehigh Acres          FL      33936   P
100.00   B15/30                 $ 85,798.49    597   Margate               FL      33063   P
100.00   B15/30                 $ 81,812.59    670   Riverside             CA-S    92503   P
100.00   B15/30                 $117,814.05    571   Anaheim               CA-S    92802   P
100.00   A2/6                   $144,400.44    753   Tampa                 FL      33610   P
100.00   A2/6 B30/40            $639,285.31    701   Roseville             CA-N    95747   P
100.00   B15/30                 $ 36,919.87    677   Lake Worth            FL      33467   CO
100.00   B15/30                 $150,143.87    620   Tustin                CA-S    92780   P
100.00   B15/30                 $100,432.45    619   Corona                CA-S    92882   P
100.00   B15/30                 $ 45,881.23    654   Opa Locka             FL      33055   P
100.00   B15/30                 $158,767.43    603   Costa Mesa            CA-S    92627   P
100.00   B15/30                 $ 89,866.45    653   Miami                 FL      33134   P
100.00   B15/30                 $130,629.65    682   Downey                CA-S    90242   P
100.00   F30                    $ 72,896.72    634   Roosevelt             NY      11575   CO
100.00   F30                    $ 26,941.07    602   Bennington            NE      68007   CO
100.00   F30                    $ 74,491.20    732   Dayton                NV      89403   P
100.00   F30                    $ 26,890.59    681   Desoto                TX      75115   P
100.00   F15                    $ 20,683.95    684   Corpus Christi        TX      78410   P
100.00   F30                    $125,796.93    634   Lakewood              CA-S    90715   P
100.00   F30                    $ 66,852.96    718   Las Vegas             NV      89123   P
100.00   F30                    $121,796.74    645   Fayetteville          GA      30215   P
100.00   F30                    $109,773.17    646   Los Angeles           CA-S    91402   P
100.00   F30                    $ 22,444.02    644   Greece                NY      14612   P
100.00   F30                    $ 45,291.80    624   Hanford               CA-S    93230   P
100.00   A2/6                   $220,442.01    692   Miami                 FL      33189   P
100.00   B15/30                 $ 74,917.58    611   Ontario               CA-S    91764   P
100.00   B15/30                 $ 73,923.60    695   Miami                 FL      33165   P
100.00   B15/30                 $ 29,553.10    638   Orange                CA-S    92868   P
100.00   B15/30                 $ 36,964.34    618   Miami                 FL      33142   P
100.00   B15/30                 $124,817.18    677   Oxnard                CA-S    93033   P
100.00   A2/6                   $233,349.93    710   Miami                 FL      33168   P
100.00   B15/30                 $127,401.06    610   Carson                CA-S    90746   P
100.00   B15/30                 $ 47,330.66    669   Las Vegas             NV      89156   P
100.00   B15/30                 $ 54,910.41    634   Merced                CA-N    95340   P
100.00   B15/30                 $112,843.95    627   Escondido             CA-S    92027   P
100.00   B15/30                 $141,792.28    621   Walnut                CA-S    91789   P
100.00   B15/30                 $ 81,870.73    688   Hesperia              CA-S    92345   P
100.00   B15/30                 $107,721.32    752   Temecula              CA-S    92592   P
100.00   F30                    $104,825.10    637   Garden Grove          CA-S    92840   P
100.00   F30                    $ 61,896.70    637   Miami                 FL      33168   P
100.00   F30                    $ 22,326.62    589   Houston               TX      77073   P
100.00   F30                    $ 51,915.90    625   Houston               TX      77007   P
100.00   F30                    $ 27,485.12    619   Arlington             TX      76013   P
100.00   F30                    $ 42,905.87    678   Bakersfield           CA-S    93307   P
100.00   A2/6                   $ 59,862.11    677   Independence          MO      64050   P
100.00   F30                    $ 31,544.25    593   Lake Helen            FL      32744   P
100.00   F30                    $ 66,959.28    600   Bakersfield           CA-S    93301   P
100.00   B15/30                 $ 61,748.70    645   Lehigh Acres          FL      33971   P
100.00   B15/30                 $ 37,766.33    632   Denver                CO      80249   P
100.00   B15/30                 $149,699.60    647   Corona                CA-S    92882   P
100.00   B15/30                 $ 43,546.12    609   Aurora                CO      80013   P
100.00   B15/30                 $ 26,565.24    605   Fort Myers            FL      33905   P
100.00   B15/30                 $ 76,919.61    598   Naples                FL      34120   P
100.00   B15/30                 $ 25,967.23    586   Golden                CO      80401   P
100.00   B15/30                 $ 46,933.77    619   Davie                 FL      33328   P
100.00   B15/30                 $ 35,934.61    640   Brighton              CO      80602   P
100.00   B15/30                 $ 43,954.08    595   Margate               FL      33063   P
100.00   B15/30                 $ 51,911.67    731   Miami                 FL      33186   P
100.00   B15/30                 $ 29,759.18    648   Fort Lauderdale       FL      33334   P
100.00   B15/30                 $ 31,961.89    599   Brighton              CO      80601   P
100.00   A2/6                   $ 90,848.68    610   Lansing               MI      48915   P
100.00   B15/30                 $132,771.23    629   Kissimmee             FL      34744   P
100.00   B15/30                 $151,728.54    709   Huntington Beach      CA-S    92647   P
100.00   B15/30                 $104,884.59    648   Wilmington            CA-S    90744   P
100.00   B15/30                 $ 60,928.99    659   Las Vegas             NV      89108   CO
100.00   B15/30                 $ 81,902.59    686   Boca Raton            FL      33433   RT
100.00   B15/30                 $ 71,049.69    681   Port Saint Lucie      FL      34952   P
100.00   A2/6 B30/40            $109,880.39    596   Detroit               MI      48234   RT
100.00   B15/30                 $120,259.83    602   Fullerton             CA-S    92833   P
100.00   B15/30                 $ 73,277.80    728   Montebello            CA-S    90640   P
100.00   B15/30                 $ 62,930.77    630   Victorville           CA-S    92394   P
100.00   B15/30                 $108,382.07    581   Sylmar                CA-S    91342   P
100.00   B15/30                 $ 62,916.50    721   Sunrise               FL      33322   P
100.00   B15/30                 $171,691.82    693   Los Angeles           CA-S    90066   P
100.00   B15/30                 $ 78,913.16    600   Chula Vista           CA-S    91915   P
100.00   B15/30                 $ 36,260.31    663   Denver                CO      80219   P
100.00   B15/30                 $136,840.50    643   Carson                CA-S    90745   P
100.00   B15/30                 $ 32,364.38    620   Jacksonville          FL      32216   P
100.00   B15/30                 $118,889.12    665   Glendale              AZ      85308   P
100.00   B15/30                 $ 29,370.32    614   Stanwood              WA      98292   P
100.00   B15/30                 $113,818.34    665   Des Moines            WA      98198   CO
100.00   B15/30                 $ 43,542.22    624   Brandon               MS      39042   P
100.00   B15/30                 $194,689.28    705   Bellevue              WA      98006   P
100.00   B15/30                 $ 69,128.54    606   Federal Way           WA      98023   P
100.00   F30                    $ 22,551.15    639   Gretna                LA      70056   P
100.00   F30                    $ 22,329.62    613   Bentonville           AR      72712   P
100.00   F30                    $ 23,874.06    583   Houston               TX      77073   P
100.00   F30                    $ 24,969.71    595   Valley                AL      36854   P
100.00   F30                    $106,372.66    655   Paramount             CA-S    90723   P
100.00   F30                    $ 36,118.43    576   Cedar Park            TX      78613   P
100.00   F30                    $ 92,818.82    651   Moreno Valley         CA-S    92555   P
100.00   F30                    $ 15,185.85    654   Cressona              PA      17929   P
100.00   F20                    $ 30,872.59    631   Auburn Hills          MI      48326   P
100.00   F30                    $ 99,868.59    736   Dorchester            MA       2125   P
100.00   B15/30                 $ 61,457.85    710   Manassas              VA      20110   P
100.00   B15/30                 $109,036.69    659   Menomonee Falls       WI      53051   CO
100.00   B15/30                 $ 59,339.62    609   Oak Lawn              IL      60453   CO
100.00   B15/30                 $115,879.38    622   Deerfield             IL      60015   CO
100.00   B15/30                 $ 28,348.57    649   Porter                TX      77365   P
100.00   F30                    $ 79,578.56    654   Woodinville           WA      98077   CO
100.00   B15/30                 $100,013.68    796   Bay Point             CA-N    94565   P
100.00   B15/30                 $ 68,914.18    636   Manteca               CA-N    95336   P
100.00   B15/30                 $ 39,885.33    605   Lemoore               CA-S    93245   P
100.00   B15/30                 $ 85,888.25    682   Rancho Cordova        CA-N    95670   P
100.00   B15/30                 $ 93,683.30    622   Vallejo               CA-N    94590   P
100.00   B15/30                 $ 81,900.22    624   Madera                CA-N    93638   P
100.00   B15/30                 $ 44,944.63    623   Parlier               CA-N    93648   P
100.00   B15/30                 $114,790.74    679   Oceanside             CA-S    92056   CO
100.00   B15/30                 $ 79,195.04    663   Fontana               CA-S    92335   P
100.00   B15/30                 $ 95,601.69    643   Montclair             CA-S    91763   P
100.00   B15/30                 $ 42,701.93    615   Keenesburg            CO      80643   CO
100.00   B15/30                 $105,653.50    719   Los Angeles           CA-S    90003   P
100.00   B15/30                 $ 54,897.74    735   Victorville           CA-S    92392   P
100.00   B15/30                 $ 50,309.30    609   Colorado Springs      CO      80919   P
100.00   B15/30                 $ 63,920.40    628   California City       CA-S    93505   P
100.00   B15/30                 $ 92,884.31    626   Vista                 CA-S    92083   P
100.00   B30/40                 $199,850.19    620   Trevor                WI      53179   CO
100.00   B15/30                 $ 39,911.61    638   Phoenix               AZ      85031   P
100.00   F30                    $ 42,954.81    638   Orlando               FL      32824   P
100.00   B15/30                 $ 24,333.29    661   Houston               TX      77083   P
100.00   B15/30                 $ 48,221.33    651   Stockton              CA-N    95207   P
100.00   B15/30                 $ 61,872.50    633   Las Vegas             NV      89146   P
100.00   B15/30                 $ 80,463.24    618   Norwalk               CA-S    90650   P
100.00   B15/30                 $ 48,743.32    652   Denver                CO      80239   CO
100.00   B15/30                 $ 27,864.49    647   Colorado Springs      CO      80909   P
100.00   B15/30                 $ 73,798.80    630   Temecula              CA-S    92591   P
100.00   B15/30                 $ 70,081.08    620   Foresthill            CA-N    95631   CO
100.00   B15/30                 $ 55,531.76    647   San Jacinto           CA-S    92583   P
100.00   F30                    $ 51,963.13    649   Port Saint Lucie      FL      34953   P
100.00   A2/6                   $139,759.60    711   Homestead             FL      33033   P
100.00   A2/6                   $ 97,867.45    702   Saint Petersburg      FL      33710   P
100.00   B15/30                 $ 24,983.04    596   Miami                 FL      33147   P
100.00   B15/30                 $ 63,535.34    702   Hollywood             FL      33024   P
100.00   B15/30                 $145,524.76    627   Downey                CA-S    90242   P
100.00   B15/30                 $ 71,926.78    711   Hollywood             FL      33019   P
100.00   B15/30                 $ 57,913.93    649   Palmdale              CA-S    93550   P
100.00   B15/30                 $ 80,878.77    652   Fontana               CA-S    92337   CO
100.00   A2/6                   $129,766.54    735   Naugatuck             CT       6770   P
100.00   A2/6                   $177,556.71    683   Crown Point           IN      46307   P
100.00   B15/30                 $ 56,330.70    733   Homestead             FL      33032   P
100.00   A2/6                   $ 79,853.58    736   Pittsburgh            PA      15236   P
100.00   A3/6                   $154,809.55    603   Bloomsburg            PA      17815   CO
100.00   B15/30                 $ 53,958.47    663   East Hartford         CT       6108   P
100.00   A3/6                   $209,762.74    590   Raleigh               NC      27603   CO
100.00   B15/30                 $ 93,938.94    637   Yorktown              VA      23693   P
100.00   B15/30                 $ 59,932.84    627   Fairfax               VA      22031   P
100.00   A3/6                   $ 88,852.77    715   Red Springs           NC      28377   P
100.00   F30                    $ 88,908.89    627   Lynn                  MA       1902   P
100.00   B15/30                 $ 59,730.53    637   Fort Myers            FL      33912   P
100.00   B15/30                 $ 59,968.61    627   Pawtucket             RI       2860   P
100.00   F30                    $ 67,949.52    635   Providence            RI       2909   P
100.00   B15/30                 $ 93,843.18    669   Chicago               IL      60639   P
100.00   B15/30                 $ 73,532.55    614   Chicago               IL      60647   P
100.00   B15/30                 $ 59,432.20    718   Elmwood Park          IL      60707   P
100.00   B15/30                 $ 84,354.20    695   Menifee               CA-S    92584   P
100.00   F30                    $ 61,916.84    642   Oroville              CA-N    95965   CO
100.00   F30                    $ 92,359.50    704   Fort Worth            TX      76133   P
100.00   B15/30                 $ 64,280.25    683   Ceres                 CA-N    95307   P
100.00   B15/30                 $143,764.94    667   San Jose              CA-N    95118   P
100.00   B15/30                 $ 95,658.15    699   Los Banos             CA-N    93635   P
100.00   B15/30                 $ 83,906.13    619   Elk Grove             CA-N    95758   P
100.00   B15/30                 $ 77,225.82    623   Fairfield             CA-N    94533   P
100.00   B15/30                 $120,459.26    628   Modesto               CA-N    95355   P
100.00   B15/30                 $129,875.26    658   San Jose              CA-N    95111   P
100.00   B15/30                 $119,884.87    658   Elk Grove             CA-N    95624   P
100.00   B15/30                 $ 66,873.03    673   Anaheim               CA-S    92805   P
100.00   B15/30                 $ 80,899.24    628   La Puente             CA-S    91744   P
100.00   B15/30                 $ 81,815.20    669   San Diego             CA-S    92139   P
100.00   B15/30                 $ 70,270.94    618   Riverside             CA-S    92501   P
100.00   B15/30                 $ 64,920.91    630   Las Vegas             NV      89128   P
100.00   B15/30                 $122,774.42    694   Compton               CA-S    90220   P
100.00   B15/30                 $114,860.06    657   Los Angeles           CA-S    90011   P
100.00   B15/30                 $113,897.60    627   Bell                  CA-S    90201   P
100.00   B15/30                 $ 97,306.54    640   Norwalk               CA-S    90650   P
100.00   B15/30                 $ 70,836.57    682   Montclair             CA-S    91763   P
100.00   B15/30                 $102,904.37    617   Long Beach            CA-S    90805   P
100.00   F30                    $ 64,364.33    640   Warwick               RI       2889   CO
100.00   F30                    $ 47,962.35    607   Meriden               CT       6450   CO
100.00   B15/30                 $ 59,945.32    658   Port Saint Lucie      FL      34952   P
100.00   B15/30                 $ 92,713.14    685   Las Vegas             NV      89110   CO
100.00   B15/30                 $ 91,823.67    763   La Puente             CA-S    91744   P
100.00   B15/30                 $115,830.31    617   Area Of Anaheim       CA-S    92804   P
100.00   B15/30                 $121,821.92    653   Murrieta              CA-S    92563   P
100.00   B15/30                 $ 92,686.07    662   La Puente Area        CA-S    91744   P
100.00   B15/30                 $ 58,618.39    691   San Bernardino        CA-S    92405   P
100.00   B15/30                 $ 95,691.37    669   Los Angeles           CA-S    90003   P
100.00   F15                    $ 62,441.40    650   Palmdale              CA-S    93552   P
100.00   B15/30                 $ 85,268.29    590   Romoland              CA-S    92585   P
100.00   B15/30                 $ 44,871.61    626   San Bernardino        CA-S    92410   P
100.00   B15/30                 $124,996.07    674   Oxnard                CA-S    93030   P
100.00   B15/30                 $132,624.69    681   Anaheim               CA-S    92804   P
100.00   B15/30                 $ 63,480.69    723   Bakersfield           CA-S    93313   P
100.00   B15/30                 $ 85,838.68    777   Lake Elsinore         CA-S    92530   P
100.00   B15/30                 $ 30,314.39    624   Highland              CA-S    92346   P
100.00   B15/30                 $ 77,733.20    802   Moreno Valley         CA-S    92557   P
100.00   B15/30                 $ 34,965.95    627   Tampa                 FL      33619   P
100.00   B15/30                 $ 95,801.61    713   Compton               CA-S    90221   P
100.00   B15/30                 $101,475.95    673   Los Angeles           CA-S    90003   P
100.00   B15/30                 $117,455.62    625   Covina                CA-S    91724   P
100.00   B15/30                 $172,832.56    675   Daly City             CA-N    94015   P
100.00   B15/30                 $ 67,432.49    630   Apple Valley          CA-S    92307   P
100.00   B15/30                 $ 39,167.49    631   Vancouver             WA      98660   P
100.00   B15/30                 $ 46,940.36    668   Twentynine Palms      CA-S    92277   P
100.00   B15/30                 $ 23,770.45    673   Edinburgh             IN      46124   RT
100.00   B15/30                 $ 29,972.22    626   Baton Rouge           LA      70817   RT
100.00   B15/30                 $ 31,951.60    634   Columbus              OH      43229   P
100.00   F30                    $ 38,891.54    683   Newington             CT       6111   CO
100.00   F30                    $ 49,885.05    632   Calumet City          IL      60409   P
100.00   B15/30                 $ 49,891.15    627   Phoenix               AZ      85015   P
100.00   B15/30                 $ 14,773.89    621   Junction City         KY      40440   P
100.00   B15/30                 $ 97,780.34    687   Santa Rosa            CA-N    95407   P
100.00   F30                    $ 32,341.37    627   East Peoria           IL      61611   CO
100.00   F30                    $106,834.99    634   Rialto                CA-S    92376   P
100.00   B15/30                 $ 29,956.13    638   Grandview             MO      64030   P
100.00   F30                    $ 22,717.59    677   Irving                TX      75061   P
100.00   F15                    $ 81,146.18    634   Riverside             CA-S    92507   P
100.00   B15/30                 $ 46,914.46    661   Las Vegas             NV      89108   P
100.00   F30                    $ 76,884.49    624   Woodland              CA-N    95695   CO
100.00   B15/30                 $ 38,340.00    600   Phoenix               AZ      85029   P
100.00   B15/30                 $ 52,917.20    603   Las Vegas             NV      89119   P
100.00   B15/30                 $ 31,937.21    691   Longmont              CO      80501   P
100.00   F30                    $ 30,164.73    642   Lawrenceville         GA      30045   CO
100.00   B15/30                 $ 57,732.71    664   Lake Worth            FL      33463   P
100.00   B15/30                 $ 70,273.59    670   Miami                 FL      33165   P
100.00   B15/30                 $ 34,952.46    605   Miami                 FL      33147   P
100.00   B15/30                 $ 58,909.76    688   Edgewater             FL      32132   P
100.00   B15/30                 $102,896.18    667   Lynn                  MA       1902   P
100.00   B15/30                 $ 63,829.29    650   Sunrise               FL      33313   P
100.00   B15/30                 $ 36,967.03    626   Seaford               DE      19973   P
100.00   F30                    $ 27,763.87    611   Baltimore             MD      21215   P
100.00   B15/30                 $ 36,967.78    627   Riviera Beach         FL      33404   P
100.00   B15/30                 $ 72,928.21    624   Frederick             MD      21703   P
100.00   B15/30                 $ 75,915.05    655   Chicago               IL      60639   P
100.00   B15/30                 $ 51,932.44    624   Miami                 FL      33056   P
100.00   F30                    $ 45,756.07    621   Lutz                  FL      33559   P
100.00   F30                    $ 49,949.60    622   Sarasota              FL      34234   P
100.00   B15/30                 $ 67,483.68    729   Highland              CA-S    92346   P
100.00   B15/30                 $ 37,929.73    655   Mesquite              TX      75181   P
100.00   B15/30                 $ 34,957.40    636   Phoenix               AZ      85009   P
100.00   F30                    $119,621.05    589   Hazelwood             MO      63042   CO
100.00   B15/30                 $ 42,972.08    632   Florida City          FL      33034   P
100.00   F30                    $ 32,778.71    637   Telford               PA      18969   P
100.00   B15/30                 $ 54,964.28    621   North Lauderdale      FL      33068   P
100.00   F30                    $ 26,382.86    633   Norwood               PA      19074   P
100.00   B15/30                 $ 45,968.74    638   Lehigh Acres          FL      33972   P
100.00   B15/30                 $ 95,904.81    628   Miami Beach           FL      33141   P
100.00   B15/30                 $ 31,165.52    629   Pompano Beach         FL      33069   P
100.00   B15/30                 $ 52,336.85    645   Colonial Heights      VA      23834   P
100.00   B15/30                 $ 70,322.99    675   Davie                 FL      33314   P
100.00   B15/30                 $ 34,975.66    627   Hollywood             FL      33023   P
100.00   B15/30                 $ 40,573.63    627   Orlando               FL      32809   P
100.00   B15/30                 $ 40,964.36    500   Miami                 FL      33169   P
100.00   B15/30                 $ 46,953.39    604   Torrington            CT       6790   P
100.00   B15/30                 $ 50,367.27    638   Port Saint Lucie      FL      34953   P
100.00   B15/30                 $ 71,921.26    677   Miami                 FL      33173   P
100.00   B15/30                 $ 31,968.61    730   Miami Springs         FL      33166   P
100.00   B15/30                 $ 61,929.20    666   Miami                 FL      33127   P
100.00   F30                    $ 16,781.83    729   Lexington             NC      27292   P
100.00   F30                    $ 47,937.10    670   Miami                 FL      33056   P
100.00   A3/6                   $107,867.01    581   Pinson                TN      38366   RT
100.00   F20                    $ 36,905.47    620   Dearborn              MI      48126   P
100.00   F30                    $105,917.78    632   Gaithersburg          MD      20882   P
100.00   B15/30                 $ 34,976.23    639   Spring Hill           FL      34608   P
100.00   B15/30                 $ 16,581.45    691   Newton                IA      50208   P
100.00   B15/30                 $ 38,373.31    623   Lake In The Hills     IL      60156   P
100.00   B15/30                 $ 37,171.61    630   Wheeling              IL      60090   P
100.00   B15/30                 $ 70,346.58    627   Elmwood Park          IL      60707   CO
100.00   B15/30                 $ 37,551.67    722   South Holland         IL      60473   P
100.00   B15/30                 $ 47,549.04    662   Glendale Heights      IL      60139   P
100.00   F30                    $ 34,627.49    626   Long Pond             PA      18334   P
100.00   F30                    $ 41,763.67    660   Sarasota              FL      34232   P
100.00   F30                    $ 41,943.19    650   Houston               TX      77007   P
100.00   F30                    $ 28,361.59    626   North Richland Hills  TX      76117   P
100.00   F30                    $ 32,955.37    630   Frisco                TX      75035   P
100.00   F30                    $ 41,144.27    664   Houston               TX      77055   P
100.00   F15                    $ 23,824.04    618   Greenville            TX      75402   P
100.00   F30                    $ 43,940.48    633   Houston               TX      77096   P
100.00   F30                    $ 89,843.52    588   Newark                OH      43055   CO
100.00   F30                    $ 44,351.95    630   Molalla               OR      97038   CO
100.00   B15/30                 $173,817.78    722   Oakland               CA-N    94606   P
100.00   B15/30                 $ 72,319.09    604   Antelope              CA-N    95843   P
100.00   B15/30                 $119,069.63    765   Tracy                 CA-N    95377   P
100.00   B15/30                 $ 69,119.26    637   Sacramento            CA-N    95823   P
100.00   B15/30                 $111,699.58    642   Vallejo               CA-N    94591   P
100.00   B15/30                 $ 51,943.13    695   Merced                CA-N    95348   P
100.00   B15/30                 $ 58,928.13    671   Rio Lindo             CA-N    95673   P
100.00   B15/30                 $ 54,950.61    628   Las Vegas             NV      89129   P
100.00   B15/30                 $ 44,958.68    639   Glendale              AZ      85301   P
100.00   B15/30                 $ 88,920.06    651   Hemet                 CA-S    92545   P
100.00   B15/30                 $ 88,116.77    632   Buena Park            CA-S    90621   P
100.00   F30                    $ 40,950.70    657   Tucson                AZ      85746   CO
100.00   A3/6 B30/40            $394,810.50    580   Lynnwood              WA      98087   CO
100.00   B15/30                 $ 40,561.04    642   Mesa                  AZ      85208   P
100.00   B15/30                 $ 41,962.28    635   Phoenix               AZ      85015   P
100.00   B15/30                 $ 44,956.81    657   Glendale              AZ      85303   P
100.00   F30                    $ 64,889.66    802   Las Vegas             NV      89147   CO
100.00   B30/40                 $129,909.63    616   Coldwater             MI      49036   CO
100.00   F30                    $129,773.98    596   Garden City           MI      48135   CO
100.00   A3/6 B30/40            $139,902.67    603   Wyoming               MI      49509   CO
100.00   F30                    $ 79,860.91    595   South Bend            IN      46619   RT
100.00   F30                    $123,784.41    618   Leesburg              IN      46538   CO
100.00   F30                    $108,810.50    581   Indianapolis          IN      46217   CO
100.00   F30                    $ 96,831.35    599   Belton                MO      64012   CO
100.00   A3/6                   $305,314.43    666   Oxford                MA       1540   CO
100.00   A3/6 B30/40            $120,915.87    616   Chicago               IL      60636   CO
100.00   A3/6                   $ 89,900.49    583   Dalton                GA      30721   CO
100.00   B15/30                 $ 25,785.29    666   Richmond              VA      23224   P
100.00   B15/30                 $ 50,963.77    667   Paddock Lake          WI      53168   P
100.00   B15/30                 $ 24,986.82    641   Chicago               IL      60628   P
100.00   B15/30                 $ 26,584.99    640   Punta Gorda           FL      33982   P
100.00   B15/30                 $ 56,955.37    746   Miami                 FL      33015   P
100.00   B15/30                 $ 51,573.44    636   Hanover Park          IL      60133   P
100.00   B15/30                 $ 22,987.73    709   Rockford              IL      61109   P
100.00   B15/30                 $ 40,965.03    738   Midlothian            IL      60445   P
100.00   B15/30                 $ 85,958.63    648   Chicago               IL      60639   P
100.00   B15/30                 $ 47,162.32    623   Saint Charles         IL      60174   P
100.00   B15/30                 $ 30,777.89    668   Chicago               IL      60640   P
100.00   B15/30                 $ 45,970.71    692   Park Ridge            IL      60068   P
100.00   F30                    $148,827.93    636   Colorado Springs      CO      80910   CO
100.00   B15/30                 $ 70,345.47    623   Cathedral City        CA-S    92234   P
100.00   F30                    $ 96,588.32    581   Fairview Heights      IL      62208   CO
100.00   B15/30                 $ 90,530.05    809   Of Mira Loma          CA-S    91752   P
100.00   F30                    $ 75,662.37    740   Rialto                CA-S    92376   P
100.00   F30                    $138,697.66    617   Beaumont              CA-S    92223   P
100.00   F30                    $ 48,352.12    690   Wallingford           CT       6492   CO
100.00   F30                    $129,916.51    788   Queens Village        NY      11429   P
100.00   F30                    $ 15,193.61    648   Rochester             NY      14613   CO
100.00   F30                    $ 69,932.25    697   Upper Marlboro        MD      20774   CO
100.00   B15/30                 $ 60,948.17    659   Port St Lucie         FL      34952   P
100.00   B15/30                 $ 47,936.98    682   Homestead             FL      33033   P
100.00   A3/6                   $178,864.32    586   Miami                 FL      33150   P
100.00   F30                    $ 33,985.36    633   Hermitage             PA      16148   P
100.00   A2/6                   $ 83,422.43    640   Pittsburgh            PA      15236   P
100.00   B15/30                 $ 36,937.58    725   Miami                 FL      33193   P
100.00   A2/6                   $ 76,841.47    647   Conley                GA      30288   P
100.00   F30                    $ 27,957.15    733   Gaylord               MI      49735   P
100.00   F30                    $ 48,364.46    649   Providence            RI       2907   P
100.00   B15/30                 $ 34,948.72    720   Jacksonville          FL      32222   P
100.00   B15/30                 $ 57,930.85    664   Miramar               FL      33023   P
100.00   B15/30                 $ 52,939.46    740   West Palm Beach       FL      33415   P
100.00   F30                    $ 40,979.33    636   New Britain           CT       6052   P
100.00   B15/30                 $ 37,770.40    687   Palm Coast            FL      32164   P
100.00   B15/30                 $ 59,098.60    643   Land O Lakes          FL      34638   P
100.00   B15/30                 $ 35,966.46    630   Durham                NC      27703   P
100.00   B15/30                 $ 37,064.78    613   Tampa                 FL      33625   P
100.00   B15/30                 $ 49,945.30    710   Virginia Beach        VA      23456   P
100.00   B15/30                 $ 52,375.85    621   Spring Hill           FL      34609   P
100.00   IOA3/6                 $330,000.00    733   Upper Marlboro        MD      20774   CO
100.00   B15/30                 $ 50,747.68    617   Cary                  IL      60013   P
100.00   A2/6 B30/40            $246,699.88    709   Skokie                IL      60076   RT
100.00   B15/30                 $ 31,386.79    632   Aurora                IL      60505   P
100.00   B15/30                 $ 45,977.62    638   Evanston              IL      60201   P
100.00   B15/30                 $ 71,960.82    629   Des Plaines           IL      60016   P
100.00   F30                    $ 31,551.28    674   Pittsburgh            PA      15228   P
100.00   B15/30                 $ 64,405.84    646   Cathedral City        CA-S    92234   P
100.00   B15/30                 $ 99,918.70    643   San Bernardino        CA-S    92407   P
100.00   B15/30                 $ 28,977.29    759   Plano                 TX      75074   P
100.00   A3/6                   $106,912.55    606   Humble                TX      77346   P
100.00   B15/30                 $ 51,343.77    686   Madera                CA-N    93637   P
100.00   B15/30                 $ 62,942.14    621   Stockton              CA-N    95215   P
100.00   B15/30                 $ 51,952.26    637   Fresno                CA-N    93722   P
100.00   B15/30                 $ 58,945.83    633   Fresno                CA-N    93727   P
100.00   B15/30                 $ 91,865.14    664   Santa Rosa            CA-N    95401   P
100.00   B15/30                 $ 82,923.80    626   Vallejo               CA-N    94590   P
100.00   B15/30                 $ 51,650.39    645   California City       CA-S    93505   P
100.00   B15/30                 $ 41,173.77    690   Reedley               CA-N    93654   P
100.00   B15/30                 $ 38,973.77    658   Los Banos             CA-N    93635   P
100.00   B15/30                 $ 64,915.54    654   San Jacinto           CA-S    92582   P
100.00   B15/30                 $ 41,456.18    690   Phoenix               AZ      85019   P
100.00   B15/30                 $ 66,917.57    620   Chula Vista           CA-S    91913   P
100.00   B15/30                 $ 55,735.04    642   Apple Valley          CA-S    92308   P
100.00   B15/30                 $ 58,320.86    620   Riverside             CA-S    92509   P
100.00   B15/30                 $ 40,960.66    651   Visalia               CA-S    93292   P
100.00   B15/30                 $ 43,161.19    620   Salton City           CA-S    92275   P
100.00   B15/30                 $ 61,932.19    698   Highland              CA-S    92346   P
100.00   B15/30                 $ 68,316.66    657   Fontana               CA-S    92335   P
100.00   B15/30                 $ 35,947.24    647   Desert Hot Springs    CA-S    92240   P
100.00   B15/30                 $ 74,731.30    628   Rialto                CA-S    92376   P
100.00   B15/30                 $ 97,892.81    772   Oceanside             CA-S    92057   P
100.00   B15/30                 $ 49,952.03    645   Long Beach            CA-S    90805   P
100.00   F30                    $ 63,953.54    683   West Covina           CA-S    91792   P
100.00   B15/30                 $ 89,913.64    651   Santa Ana             CA-S    92703   P
100.00   B15/30                 $ 46,948.62    642   Hesperia              CA-S    92344   P
100.00   B15/30                 $ 44,872.65    624   Hanford               CA-S    93230   P
100.00   B15/30                 $ 67,934.76    664   San Bernardino        CA-S    92376   P
100.00   B15/30                 $ 66,152.98    676   Perris                CA-S    92571   P
100.00   B15/30                 $107,934.22    627   Los Angeles           CA-S    90061   P
100.00   B15/30                 $101,939.22    646   Elk Grove             CA-N    95624   P
100.00   B15/30                 $ 36,964.49    655   Phoenix               AZ      85042   P
100.00   B15/30                 $ 63,938.59    649   Upland                CA-S    91786   P
100.00   B15/30                 $ 61,942.42    624   Corona                CA-S    92882   P
100.00   B15/30                 $ 35,565.74    668   Orlando               FL      32808   P
100.00   F30                    $ 29,188.01    630   Providence            RI       2904   P
100.00   F30                    $ 54,951.24    686   Opa Locka             FL      33056   P
100.00   F30                    $ 64,942.38    654   Pascoag               RI       2859   CO
100.00   F30                    $ 74,951.83    649   Mastic                NY      11950   CO
100.00   F30                    $ 86,938.29    640   Paterson              NJ       7524   CO
100.00   F30                    $101,131.34    613   East Greenwich        RI       2818   P
100.00   F30                    $ 37,148.48    614   Branford              CT       6405   P
100.00   B15/30                 $ 54,929.64    637   Crestline             CA-S    92325   P
100.00   B15/30                 $ 59,892.83    717   Miami                 FL      33150   P
100.00   B15/30                 $107,781.61    679   West Covina           CA-S    91792   P
100.00   B15/30                 $ 48,892.09    720   Helendale             CA-S    92342   P
100.00   F30                    $ 33,170.56    688   Rosenberg             TX      77471   P
100.00   B15/30                 $ 53,970.55    704   Pompano Beach         FL      33064   P
100.00   B15/30                 $ 32,979.00    672   Apache Junction       AZ      85220   P
100.00   B15/30                 $ 40,385.17    640   Chicopee              MA       1013   CO
100.00   F30                    $ 35,981.44    658   Palm Bay              FL      32909   P
100.00   B15/30                 $ 22,486.76    601   Lufkin                TX      75904   P
100.00   F30                    $ 23,578.80    688   Houston               TX      77080   P
100.00   F30                    $ 30,558.61    500   Arlington             TX      76018   P
100.00   F30                    $ 49,156.28    611   Puyallup              WA      98373   CO
100.00   B15/30                 $ 51,961.43    693   Chicago               IL      60611   CO
100.00   F30                    $ 23,565.43    712   Clifton Heights       PA      19018   P
100.00   F30                    $ 27,175.57    643   Duncanville           TX      75116   P
100.00   B15/30                 $ 33,574.53    708   Kenneth City          FL      33709   P
100.00   B15/30                 $ 56,566.34    652   Las Vegas             NV      89156   P
100.00   B15/30                 $ 49,905.76    611   Las Vegas             NV      89115   P
100.00   A2/6                   $ 90,940.79    588   Statesville           NC      28677   P
100.00   A3/6                   $102,426.40    588   Memphis               TN      38141   P
100.00   A3/6 B30/40            $119,420.67    595   Dallas                TX      75241   P
100.00   A3/6                   $ 85,872.10    674   Dallas                TX      75227   RT
100.00   A3/6                   $ 59,944.25    610   Fort Worth            TX      76115   P
100.00   A3/6 B30/40            $124,930.21    626   Mesquite              TX      75181   RT
100.00   A3/6 B30/40            $142,614.35    642   Buhl                  ID      83316   CO
100.00   A3/6 B30/40            $286,728.20    604   Stockton              CA-N    95204   RT
100.00   B15/30                 $ 56,569.48    656   Pompano Beach         FL      33064   P
100.00   B15/30                 $ 51,272.33    655   Lehigh Acres          FL      33971   P
100.00   B15/30                 $ 64,952.81    661   Woodbridge            VA      22193   P
100.00   B15/30                 $ 53,361.66    653   River Grove           IL      60171   P
100.00   F30                    $ 47,365.97    656   Kent                  WA      98031   CO
100.00   B15/30                 $ 97,337.99    654   Stockton              CA-N    95207   P
100.00   B15/30                 $114,726.92    655   Tracy                 CA-N    95376   P
100.00   B15/30                 $ 92,716.65    653   El Cajon              CA-S    92019   P
100.00   B15/30                 $ 51,167.41    655   Crestline             CA-S    92325   P
100.00   B15/30                 $109,934.46    653   Los Angeles           CA-S    90001   P
100.00   B15/30                 $112,932.68    654   Bloomington Area      CA-S    92316   P
100.00   B15/30                 $ 69,353.56    647   Hesperia              CA-S    92345   P
100.00   B15/30                 $ 42,922.89    637   Salton City           CA-S    92275   P
100.00   B15/30                 $ 88,907.46    670   Los Angeles           CA-S    90042   P
100.00   A2/6                   $204,742.47    595   Albuquerque           NM      87114   P
100.00   A2/6 B30/40            $181,967.91    576   Kuna                  ID      83634   P
100.00   B30/40                 $146,796.77    574   Eagle Mountain        UT      84043   P
100.00   F30                    $ 47,465.96    628   Euclid                OH      44123   P
100.00   A2/6                   $ 39,964.13    628   Pottsville            PA      17901   P
100.00   A2/6                   $199,821.92    725   Saco                  ME       4072   P
100.00   F30                    $ 61,581.98    685   North Kingstown       RI       2852   P
100.00   A2/6                   $ 84,897.77    596   Bay City              MI      48706   P
100.00   B15/30                 $ 25,962.96    580   Midland               MI      48640   P
100.00   B15/30                 $ 51,937.90    618   Oak Lawn              IL      60453   P
100.00   B15/30                 $ 55,935.65    652   Chicago               IL      60617   P
100.00   B15/30                 $ 24,981.02    629   Grand Ledge           MI      48837   P
100.00   B15/30                 $ 50,972.25    598   Chicago               IL      60605   P


                                                                                                            SILENT
                                              DTI                        REMAINING               PROPERTY   LIEN     SECOND
CLTV     PRODUCT                BALANCE       BACK    DOCTYPE   RATE     TERM        OCCUPANCY   TYPE       STATUS   FLAG     MI
------   --------------------   -----------   -----   -------   ------   ---------   ---------   --------   ------   ------   --

 80.00   A2/6                   $133,029.42   26.64   FULL       9.825         351   P           SFR             1     N
 80.00   A2/6                   $168,204.24   43.17   FULL       7.115         350   P           SFR             1     Y
 80.00   IOA2/6                 $512,000.00   47.29   STD        6.990         350   P           SFR             1     Y
 80.00   IOA2/6                 $192,000.00   35.90   STD        7.000         350   P           SFR             1     Y
 80.00   A2/6                   $130,953.83   46.91   FULL       6.750         351   P           SFR             1     Y
 80.00   IOA2/6                 $401,600.00   46.88   STD        7.750         351   P           SFR             1     Y
 80.00   IOA2/6                 $200,000.00   49.09   STD        7.500         351   P           SFR             1     Y
 80.00   Dual Amort - 10/40 -
         2 Year/6 Month         $135,481.39   49.70   FULL       6.700         351   P           SFR             1     Y
 80.00   IOA3/6                 $620,450.00   47.27   STD        8.750         351   P           CO              1     Y
 80.00   A2/6                   $148,391.95   41.18   STD        7.715         349   P           SFR             1     Y
 80.00   A2/6                   $158,302.66   51.78   STD        7.875         352   P           PUD             1     Y
 80.00   A2/6 B30/40            $395,817.69   53.82   STD        6.105         351   P           SFR             1     Y
 80.00   A2/6 B30/40            $106,368.48   47.60   FULL       7.725         352   P           SFR             1     Y
 80.00   A2/6                   $146,104.60   44.94   FULL       6.450         352   P           SFR             1     Y
 80.00   IOA2/6                 $148,000.00   46.11   FULL       6.990         351   P           SFR             1     Y
 80.00   IOA2/6                 $204,000.00   46.04   STD        6.990         351   P           SFR             1     Y
 80.00   IOA3/6                 $ 91,129.45   45.42   STD        9.250         352   P           SFR             1     Y
 80.00   A2/6                   $105,011.00   26.81   FULL       7.925         352   P           SFR             1     N
 80.00   A2/6                   $167,014.15   46.25   STD        7.670         352   P           SFR             1     N
 80.00   A2/6                   $148,919.95   51.30   FULL      10.050         350   P           SFR             1     N
 80.00   A2/6                   $148,222.41   47.86   FULL       7.225         352   P           PUD             1     Y
 80.00   A2/6                   $286,704.25   52.94   LIM        9.575         351   P           SFR             1     N
 80.00   A2/6                   $443,928.25   43.80   STD        6.600         350   P           SFR             1     Y
 80.00   A2/6                   $142,716.46   49.96   STD       10.425         352   I           SFR             1     N
 80.00   Dual Amort - 10/40 -
         2 Year/6 Month         $598,234.70   50.08   STD        7.200         352   P           SFR             1     N
 80.00   A1/6                   $274,324.98   45.91   STD        7.500         352   P           SFR             1     N
 80.00   A2/6                   $ 99,966.28   38.59   LIM        7.950         352   P           SFR             1     Y
 80.00   IOA2/6                 $176,788.99   33.92   FULL       7.785         352   P           CO              1     Y
 80.00   A2/6                   $136,537.04   49.73   FULL       6.660         352   P           CO              1     Y
 80.00   A2/6                   $254,770.84   52.05   FULL       7.990         353   P           SFR             1     Y
 80.00   A2/6                   $179,139.21   39.07   FULL       8.010         353   P           SFR             1     Y
 80.00   A2/6 B30/40            $207,443.28   44.87   FULL       7.050         353   P           SFR             1     Y
 80.00   A2/6                   $267,049.08   40.07   STD        9.470         353   P           SFR             1     Y
 80.00   IOA2/6                 $149,192.00   29.45   FULL       7.810         353   P           CO              1     Y
 80.00   A2/6 B30/40            $332,941.64   45.81   STD        8.125         353   P           SFR             1     Y
 80.00   A2/6                   $250,692.19   47.86   STD        7.600         353   P           PUD             1     Y
 80.00   A2/6 B30/40            $291,396.11   39.43   STD        8.200         353   P           SFR             1     Y
 80.00   A2/6                   $240,513.90   32.31   STD        8.990         352   P           SFR             1     N
 80.00   A2/6                   $158,326.44   36.00   FULL       7.550         353   P           PUD             1     Y
 80.00   IOA2/6                 $227,475.19   44.66   STD        7.450         353   P           SFR             1     Y
 80.00   A2/6 B30/40            $183,673.30   46.47   STD        8.490         353   P           PUD             1     Y
 80.00   A2/6                   $145,320.67   48.44   FULL       6.650         352   P           SFR             1     Y
 80.00   IOA2/6                 $352,000.00   49.59   STD        8.450         353   P           SFR             1     Y
 80.00   IOA2/6                 $504,000.00   44.91   STD        7.500         353   P           SFR             1     Y
 80.00   A2/6                   $218,969.89   49.22   FULL       7.325         354   P           CO              1     Y
 80.00   A2/6 B30/40            $399,344.90   41.61   STD        9.050         353   P           2F              1     N
 80.00   IOA2/6                 $236,000.00   47.73   STD        9.025         352   P           PUD             1     Y
 80.00   A2/6 B30/40            $301,730.80   44.81   STD        7.725         353   P           SFR             1     Y
 80.00   IOA2/6                 $235,999.50   39.19   STD        7.950         353   P           SFR             1     Y
 80.00   A2/6 B30/40            $219,282.88   44.42   STD        7.990         351   P           PUD             1     Y
 80.00   A2/6 B30/40            $136,136.45   38.79   STD        8.680         352   P           SFR             1     Y
 80.00   A2/6 B30/40            $470,917.80   50.04   STD        8.500         351   P           SFR             1     Y
 80.00   A2/6                   $ 56,456.39   21.20   FULL       8.125         351   P           SFR             1     Y
 80.00   IOA2/6                 $148,000.00   47.16   FULL       7.125         353   P           PUD             1     Y
 80.00   A2/6 B30/40            $411,154.70   46.26   STD        7.990         353   P           PUD             1     Y
 80.00   IOA2/6                 $235,920.00   52.18   FULL       7.700         353   P           PUD             1     Y
 80.00   A2/6 B30/40            $118,205.11   41.56   FULL       8.750         353   P           SFR             1     N
 80.00   A2/6 B30/40            $137,861.30   41.54   STD        6.625         351   P           CO              1     Y
 80.00   A3/6 B30/40            $167,671.01   31.30   FULL       8.625         352   P           SFR             1     N
 80.00   A2/6                   $244,396.92   44.23   STD        7.095         354   P           SFR             1     Y
 80.00   IOA2/6                 $252,000.00   48.28   FULL       6.990         354   P           SFR             1     Y
 80.00   IOA2/6                 $144,258.00   40.99   FULL       7.160         352   P           CO              1     Y
 80.00   IOA2/6                 $180,000.00   45.12   FULL       7.760         351   P           CO              1     Y
 80.00   A2/6                   $120,046.71   40.54   FULL       7.985         351   P           SFR             1     Y
 80.00   A2/6                   $215,524.88   38.42   FULL       7.460         351   P           SFR             1     Y
 80.00   A2/6 B30/40            $463,192.70   43.50   STD        8.560         353   P           SFR             1     Y
 80.00   IOA2/6                 $296,000.00   26.11   FULL       6.700         354   P           PUD             1     N
 80.00   A2/6                   $267,007.45   31.23   STD        8.495         354   P           SFR             1     Y
 80.00   A2/6                   $477,100.21   44.84   LIM        6.825         353   P           SFR             1     Y
 80.00   IOA2/6                 $344,689.38   46.62   FULL       7.700         354   P           SFR             1     Y
 80.00   A2/6                   $108,206.16   48.43   FULL       7.900         354   P           SFR             1     Y
 80.00   A3/6                   $ 89,178.42   42.15   FULL       7.300         354   P           SFR             1     Y
 80.00   IOA2/6                 $280,000.00   44.08   FULL       7.850         354   P           SFR             1     Y
 80.00   IOA2/6                 $240,108.00   38.04   STD        7.890         353   P           SFR             1     Y
 80.00   A2/6                   $ 99,581.51   45.06   FULL       7.890         354   P           SFR             1     Y
 80.00   IOA2/6                 $344,000.00   44.65   FULL       7.865         354   P           SFR             1     Y
 80.00   IOA2/6                 $224,000.00   40.33   FULL       7.115         354   P           SFR             1     Y
 80.00   A2/6                   $116,317.05   44.27   STD        7.950         354   P           SFR             1     Y
 80.00   IOA2/6                 $231,280.00   49.61   FULL       8.375         354   P           SFR             1     Y
 80.00   IOA2/6                 $369,600.00   38.85   FULL       7.250         354   P           CO              1     Y
 80.00   IOA2/6                 $344,000.00   44.65   STD        7.500         354   P           SFR             1     Y
 80.00   A2/6                   $214,792.98   42.61   FULL       7.225         353   P           PUD             1     Y
 80.00   A2/6                   $139,346.63   41.17   STD        8.500         354   P           CO              1     Y
 80.00   IOA2/6                 $313,350.00   34.96   FULL       7.125         353   P           SFR             1     Y
 80.00   A2/6 B30/40            $318,296.85   47.95   FULL       6.850         353   P           PUD             1     Y
 80.00   A2/6                   $219,002.57   47.54   FULL       8.275         353   P           SFR             1     Y
 80.00   IOA2/6                 $151,600.00   44.30   FULL       7.500         354   P           SFR             1     Y
 80.00   A2/6 B30/40            $423,264.31   41.24   STD        8.025         354   P           SFR             1     Y
 80.00   A2/6 B30/40            $117,687.64   26.86   STD        8.675         354   P           CO              1     Y
 80.00   A2/6                   $491,400.38   40.27   FULL       7.575         354   P           PUD             1     Y
 80.00   F30                    $118,866.84   38.36   FULL       7.325         354   P           PUD             1     Y
 80.00   A2/6 B30/40            $445,607.05   42.58   STD        8.080         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $ 65,468.88   34.38   FULL       7.525         355   P           SFR             1     Y
 80.00   A2/6                   $261,394.29   49.02   FULL       7.400         355   P           SFR             1     Y
 80.00   IOA2/6                 $380,000.00   42.03   FULL       7.450         355   P           SFR             1     Y
 80.00   F30                    $ 49,899.97   26.53   FULL      10.550         355   P           SFR             1     Y
 80.00   A2/6                   $155,584.89   47.84   FULL       9.200         355   P           SFR             1     N
 80.00   A2/6 B30/40            $151,782.49   35.48   STD        8.050         355   S           SFR             1     N
 80.00   F30                    $123,590.09   51.55   STD        8.175         355   P           CO              1     Y
 80.00   A2/6 B30/40            $191,633.26   44.26   FULL       7.900         355   P           CO              1     Y
 80.00   A2/6 B30/40            $599,077.64   45.51   STD        7.800         355   P           SFR             1     Y
 80.00   A2/6                   $108,247.74   39.02   FULL       7.700         355   P           SFR             1     Y
 80.00   F30                    $103,365.72   48.00   FULL       9.975         355   I           PUD             1     N
 80.00   A2/6 B30/40            $ 85,506.90   47.86   STD        8.990         355   P           CO              1     Y
 80.00   B30/40                 $351,487.58   47.66   FULL       7.990         355   P           SFR             1     Y
 80.00   A2/6                   $142,790.50   51.37   STD        8.850         355   P           SFR             1     Y
 80.00   A2/6                   $ 55,864.40   48.11   FULL       9.650         355   P           SFR             1     Y
 80.00   IOA2/6                 $780,000.00   46.25   STD        7.590         350   P           SFR             1     Y
 80.00   A2/6 B30/40            $139,010.37   46.63   FULL       8.220         355   P           PUD             1     Y
 80.00   A2/6                   $103,619.57   42.00   FULL       9.375         353   P           SFR             1     Y
 80.00   A2/6                   $271,193.68   35.72   LIM        8.675         355   I           SFR             1     N
 80.00   A2/6 B30/40            $363,604.15   44.71   STD        8.990         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $519,419.29   45.18   FULL       8.900         355   P           4F              1     Y
 80.00   A2/6 B30/40            $ 77,633.39   37.81   FULL       7.599         355   P           TH              1     Y
 80.00   A2/6 B30/40            $566,789.42   36.38   STD        8.695         353   P           SFR             1     Y
 80.00   A2/6 B30/40            $110,847.45   43.85   STD        7.750         350   P           CO              1     Y
 80.00   A2/6 B30/40            $135,610.49   39.13   STD        7.625         353   P           SFR             1     Y
 80.00   A2/6                   $219,250.50   45.58   FULL       7.990         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $107,837.48   44.77   STD        7.875         355   P           SFR             1     Y
 80.00   A2/6                   $196,662.44   43.86   STD        7.750         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $143,798.34   43.10   STD        8.125         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $279,673.21   44.58   STD        8.750         355   P           3F              1     Y
 80.00   A2/6 B30/40            $323,323.44   44.97   STD        7.375         354   P           SFR             1     Y
 80.00   A2/6                   $ 61,319.95   26.72   FULL       8.699         353   P           SFR             1     N
 80.00   A2/6                   $209,537.00   28.69   FULL       7.990         354   P           SFR             1     Y
 80.00   A2/6 B30/40            $302,352.12   45.25   FULL       6.750         354   P           SFR             1     Y
 80.00   A3/6                   $171,478.96   49.19   FULL       9.470         354   P           SFR             1     N
 80.00   A3/6                   $175,355.84   49.15   FULL       7.850         355   P           3F              1     Y
 80.00   A3/6                   $ 87,781.26   48.53   FULL       9.525         355   P           SFR             1     N
 80.00   A2/6 B30/40            $299,613.41   46.14   STD        7.625         356   P           SFR             1     N
 80.00   IOA2/6                 $611,904.69   37.07   STD        7.750         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $183,724.74   49.62   STD        7.895         355   P           PUD             1     Y
 80.00   A2/6 B30/40            $499,220.33   49.77   STD        7.750         355   P           SFR             1     N
 80.00   A2/6                   $518,319.10   43.26   STD        8.250         355   P           PUD             1     Y
 80.00   A2/6                   $116,061.71   59.00   FULL       7.590         352   P           SFR             1     Y
 80.00   B30/40                 $567,428.17   28.09   FULL       9.250         355   P           SFR             1     N
 80.00   A2/6                   $191,439.58   40.86   FULL       8.750         355   P           PUD             1     Y
 80.00   A2/6 B30/40            $155,804.10   41.74   STD        8.500         355   P           SFR             1     N
 80.00   A2/6                   $303,112.64   46.72   STD        8.750         355   P           SFR             1     N
 80.00   F30                    $ 75,720.52   44.87   FULL       8.530         354   P           SFR             1     Y
 80.00   IOA2/6                 $268,000.00   41.43   STD        7.450         354   P           CO              1     Y
 80.00   A2/6                   $203,204.54   29.91   FULL       8.250         354   P           SFR             1     Y
 80.00   A2/6                   $485,564.65   47.37   STD        7.000         354   P           SFR             1     Y
 80.00   A2/6                   $186,432.16   42.56   STD        7.990         354   P           SFR             1     Y
 80.00   IOA2/6                 $256,000.00   39.59   STD        7.300         354   P           SFR             1     Y
 80.00   IOA2/6                 $440,000.00   46.15   LIM        6.950         355   P           SFR             1     Y
 80.00   A2/6                   $107,617.77   10.20   LIM        7.800         355   P           SFR             1     Y
 80.00   A2/6                   $243,297.46   48.74   STD        7.700         356   P           2F              1     Y
 80.00   A2/6 B30/40            $126,645.66   40.52   FULL       7.825         356   P           SFR             1     Y
 80.00   A2/6                   $212,109.86   43.69   STD        7.100         356   P           SFR             1     Y
 80.00   IOA2/6                 $524,000.00   42.30   LIM        7.950         355   P           SFR             1     Y
 80.00   A2/6                   $205,765.99   40.07   LIM        7.375         356   P           PUD             1     Y
 80.00   IOA2/6                 $307,919.00   44.13   STD        7.750         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $367,508.62   25.92   FULL       7.500         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $433,082.04   40.52   STD        7.890         356   P           SFR             1     Y
 80.00   A2/6                   $529,857.99    1.78   FULL       7.150         355   P           PUD             1     N
 80.00   IOA2/6                 $531,999.33   39.38   FULL       7.000         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $607,290.39   41.36   STD        8.750         355   P           SFR             1     Y
 80.00   A2/6                   $414,975.98   47.17   STD        8.475         356   P           SFR             1     Y
 80.00   A2/6                   $415,108.04   42.51   STD        9.150         356   P           2F              1     Y
 80.00   A2/6                   $191,637.29   44.71   FULL       9.750         356   P           SFR             1     N
 80.00   A2/6 B30/40            $255,670.10   48.32   STD        7.625         356   P           SFR             1     Y
 80.00   IOA2/6                 $293,600.00   46.78   STD        7.500         355   P           CO              1     N
 80.00   IOA2/6                 $388,000.00   40.58   FULL       7.550         356   P           CO              1     Y
 80.00   A2/6 B30/40            $251,617.97   39.07   LIM        7.050         356   P           SFR             1     N
 80.00   A2/6 B30/40            $433,504.92   43.23   FULL       8.050         356   P           SFR             1     N
 80.00   A2/6 B30/40            $707,254.20   28.51   STD        8.325         356   P           PUD             1     Y
 80.00   A2/6 B30/40            $307,641.75   41.90   STD        7.990         356   P           SFR             1     Y
 80.00   A2/6                   $563,388.22   42.13   LIM        8.400         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $547,363.95   47.31   STD        7.990         356   P           SFR             1     N
 80.00   A2/6                   $478,702.40   46.42   FULL       9.000         356   P           SFR             1     Y
 80.00   A2/6                   $187,993.87   52.17   FULL       6.850         351   P           PUD             1     Y
 80.00   IOA2/6                 $334,150.00   47.75   STD        7.550         355   P           PUD             1     Y
 80.00   A2/6 B30/40            $275,561.24   48.63   STD        7.850         355   P           PUD             1     Y
 80.00   IOA2/6                 $344,000.00   49.48   LIM        6.950         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $217,292.50   34.33   LIM        7.300         356   P           PUD             1     Y
 80.00   IOA2/6                 $316,000.00   48.97   STD        7.575         356   P           2F              1     Y
 80.00   A2/6                   $ 72,935.68   19.65   FULL       7.700         355   P           SFR             1     Y
 80.00   A2/6                   $135,603.04   26.00   FULL       8.750         355   P           SFR             1     N
 80.00   A2/6 B30/40            $351,634.92   32.11   STD        9.150         355   P           SFR             1     N
 80.00   IOA2/6                 $244,000.00   36.14   STD        7.650         355   P           SFR             1     N
 80.00   A2/6                   $111,483.55   45.92   FULL       8.900         355   P           SFR             1     Y
 80.00   F30                    $ 57,748.84   30.64   FULL      10.600         356   P           SFR             1     Y
 80.00   IOA2/6                 $426,400.00   42.88   FULL       7.300         355   P           SFR             1     N
 80.00   IOA2/6                 $171,880.72   40.76   STD        8.450         353   P           TH              1     N
 80.00   IOA3/6                 $212,800.00   38.60   FULL       8.240         356   P           SFR             1     Y
 80.00   IOA2/6                 $184,000.00   43.63   FULL       8.390         356   P           CO              1     Y
 80.00   A3/6                   $ 71,777.87   37.95   STD        8.000         356   P           SFR             1     Y
 80.00   IOA3/6                 $259,876.64   49.90   STD        8.350         356   P           CO              1     Y
 80.00   A3/6                   $279,307.24   49.21   STD        8.450         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $343,584.36   45.91   STD        7.850         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $248,574.14   49.09   FULL       8.840         356   P           SFR             1     Y
 80.00   IOA2/6                 $272,000.00   35.95   FULL       8.090         356   P           SFR             1     Y
 80.00   IOA2/6                 $420,000.00   47.07   STD        7.600         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $279,734.10    7.49   FULL       8.690         356   P           2F              1     Y
 80.00   A2/6                   $ 95,495.47   52.52   FULL       9.950         354   P           SFR             1     Y
 80.00   A2/6                   $ 63,870.61   47.55   STD       10.500         355   P           SFR             1     Y
 80.00   A2/6                   $107,691.18   43.67   STD        8.850         355   P           SFR             1     Y
 80.00   A2/6                   $ 77,961.20   48.14   STD       10.300         354   I           SFR             1     Y
 80.00   A2/6                   $107,928.24   47.97   STD       10.100         355   P           CO              1     Y
 80.00   A2/6                   $143,608.83   40.90   STD        7.990         356   P           SFR             1     Y
 80.00   F20                    $ 77,040.32   47.56   FULL       7.590         236   P           SFR             1     N
 80.00   F30                    $ 89,468.75   49.02   STD       10.940         356   P           SFR             1     N
 80.00   A2/6 B30/40            $113,458.36   51.61   FULL       7.740         356   P           SFR             1     N
 80.00   F30                    $ 79,881.65   29.35   FULL       9.525         357   P           SFR             1     N
 80.00   A3/6 B30/40            $124,808.49   53.56   FULL       7.500         356   P           SFR             1     N
 80.00   IOA2/6                 $408,000.00   42.04   STD        7.340         356   P           SFR             1     Y
 80.00   IOA2/6                 $404,000.00   45.41   STD        7.940         356   P           SFR             1     Y
 80.00   IOA2/6                 $594,400.00   49.12   STD        8.390         356   P           SFR             1     Y
 80.00   IOA2/6                 $328,000.00   45.38   STD        7.915         356   P           SFR             1     N
 80.00   A2/6                   $209,786.23   37.15   STD        8.340         356   P           SFR             1     Y
 80.00   IOA3/6                 $180,000.00   43.33   STD        8.615         356   P           SFR             1     N
 80.00   IOA2/6                 $480,000.00   43.82   STD        8.115         356   P           4F              1     Y
 80.00   A2/6                   $255,276.06   43.22   STD        7.790         356   P           SFR             1     N
 80.00   A2/6                   $227,350.06   42.24   STD        7.750         356   P           SFR             1     Y
 80.00   IOA2/6                 $176,000.00   47.53   FULL       6.990         356   P           SFR             1     Y
 80.00   IOA2/6                 $175,200.00   27.53   FULL       7.440         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $306,044.36   48.72   STD        7.990         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $431,205.12   43.16   FULL       6.350         356   P           SFR             1     Y
 80.00   IOA2/6                 $480,000.00   46.33   FULL       8.465         356   P           3F              1     Y
 80.00   A2/6                   $154,841.85   46.82   STD        8.790         356   P           SFR             1     Y
 80.00   A2/6                   $268,085.89   21.62   FULL       8.100         356   P           2F              1     Y
 80.00   IOA2/6                 $279,919.52   50.39   FULL       7.200         356   P           SFR             1     Y
 80.00   IOA2/6                 $322,320.00   35.85   FULL       7.150         356   P           CO              1     N
 80.00   A2/6                   $150,647.34   44.07   FULL       6.985         356   P           2F              1     Y
 80.00   IOA2/6                 $111,599.10   42.75   STD        8.700         356   P           SFR             1     N
 80.00   A2/6                   $151,460.22   42.67   FULL       7.450         356   P           SFR             1     Y
 80.00   IOA2/6                 $200,000.00   40.14   FULL       7.700         356   P           CO              1     N
 80.00   F30                    $152,360.06   35.28   STD        7.700         356   P           SFR             1     Y
 80.00   IOA2/6                 $281,600.00   44.36   STD        8.300         356   P           SFR             1     Y
 80.00   A2/6                   $259,537.81   46.68   FULL       8.750         357   P           SFR             1     N
 80.00   A2/6                   $303,383.99   49.87   STD        8.000         357   P           SFR             1     N
 80.00   A2/6                   $315,141.64   32.77   STD        7.990         356   P           SFR             1     N
 80.00   A2/6 B30/40            $451,607.84   54.13   FULL       7.990         357   P           SFR             1     N
 80.00   A2/6                   $207,660.15   46.85   STD        9.050         357   P           SFR             1     N
 80.00   IOA2/6                 $248,000.00   51.82   FULL       7.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $250,207.14   38.45   STD        8.400         357   P           SFR             1     N
 80.00   IOA2/6                 $384,000.00   46.78   FULL       7.500         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $151,465.98   38.01   FULL       7.925         357   P           SFR             1     Y
 80.00   IOA2/6                 $474,080.00   49.31   STD        7.900         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $291,765.03   48.97   FULL       8.250         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $278,660.62   43.63   STD        7.850         356   P           2F              1     Y
 80.00   A2/6 B30/40            $671,089.85   47.81   FULL       7.450         356   P           PUD             1     Y
 80.00   IOA2/6                 $251,812.00   24.28   FULL       6.990         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $174,167.11   41.80   FULL       7.500         356   P           CO              1     Y
 80.00   A2/6 B30/40            $199,729.91   46.00   FULL       8.250         355   P           SFR             1     N
 80.00   A2/6 B30/40            $244,821.99   47.69   FULL       6.990         356   P           PUD             1     Y
 80.00   F30                    $151,399.91   29.94   FULL       7.250         355   P           SFR             1     N
 80.00   A2/6                   $171,691.78   46.60   STD       10.000         356   P           SFR             1     N
 80.00   A2/6 B30/40            $134,201.88   20.38   FULL       7.150         356   P           2F              1     N
 80.00   A2/6                   $ 56,705.51   43.55   FULL      10.350         356   P           SFR             1     Y
 80.00   A2/6                   $251,343.83   46.26   LIM        8.200         356   P           SFR             1     N
 80.00   A2/6                   $638,432.58   44.25   STD        8.500         356   P           SFR             1     N
 80.00   F30                    $130,031.95   50.53   STD        7.800         356   P           SFR             1     N
 80.00   IOA2/6                 $680,000.00   48.07   FULL       6.900         356   P           SFR             1     Y
 80.00   B30/40                 $295,575.78   45.07   FULL       7.250         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $463,276.64   46.24   STD        6.950         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $399,702.16   42.23   STD        9.500         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $287,710.83   44.11   STD        8.490         356   P           SFR             1     Y
 80.00   A2/6                   $282,976.77   22.26   FULL       7.690         356   P           PUD             1     N
 80.00   A2/6                   $191,478.46   47.82   FULL       7.990         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $739,592.98   34.71   STD       10.500         356   I           2F              1     N
 80.00   IOA2/6                 $528,000.00   49.60   FULL       8.250         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $491,485.46   46.21   STD        8.350         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $199,857.62   49.55   STD        9.650         356   P           SFR             1     N
 80.00   IOA2/6                 $384,000.00   38.25   STD        7.600         356   P           PUD             1     Y
 80.00   A2/6                   $418,832.37   59.57   FULL       7.875         356   P           SFR             1     Y
 80.00   A2/6                   $187,511.94   38.89   FULL       8.400         356   P           SFR             1     N
 80.00   A2/6 B30/40            $339,330.28   19.95   FULL       6.100         356   P           SFR             1     N
 80.00   A2/6                   $630,529.54   49.19   STD        8.750         356   P           3F              1     N
 80.00   A2/6                   $150,801.53   30.07   FULL       8.140         356   P           SFR             1     N
 80.00   IOA2/6                 $232,000.00   43.79   STD        7.900         356   P           SFR             1     Y
 80.00   A2/6                   $378,063.68   59.00   FULL       7.500         356   I           SFR             1     N
 80.00   IOA2/6                 $455,200.00   34.77   FULL       7.850         356   P           PUD             1     Y
 80.00   A2/6 B30/40            $227,663.89   53.36   FULL       7.150         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $154,971.22   48.96   FULL       7.150         356   P           SFR             1     Y
 80.00   F30                    $168,262.62   44.91   FULL       8.000         356   P           SFR             1     Y
 80.00   A2/6                   $371,001.65   49.45   STD        8.050         356   P           SFR             1     Y
 80.00   IOA2/6                 $198,247.00   33.06   STD        8.950         356   P           PUD             1     Y
 80.00   IOA2/6                 $192,000.00   43.75   STD        9.400         356   P           SFR             1     Y
 80.00   A2/6                   $163,570.84   48.41   FULL       8.175         356   P           SFR             1     Y
 80.00   A2/6                   $446,741.97   51.32   STD        7.825         356   P           2F              1     Y
 80.00   A2/6                   $175,539.93   42.50   FULL       8.180         356   P           SFR             1     Y
 80.00   IOA2/6                 $455,871.99   52.75   FULL       6.700         356   P           SFR             1     Y
 80.00   IOA2/6                 $560,000.00   41.22   STD        7.990         356   P           CO              1     Y
 80.00   B30/40                 $423,507.84   12.51   FULL       7.990         356   P           SFR             1     Y
 80.00   A2/6                   $131,646.46   42.36   FULL       8.060         356   P           SFR             1     Y
 80.00   IOA2/6                 $177,910.98   36.14   STD        8.050         356   P           SFR             1     Y
 80.00   A2/6                   $187,485.15   32.94   FULL       7.950         356   I           2F              1     N
 80.00   IOF30                  $191,200.00   45.26   STD        8.300         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $301,219.55   38.46   FULL       7.700         356   P           SFR             1     Y
 80.00   F30                    $258,457.40   43.10   FULL       7.725         356   P           SFR             1     N
 80.00   A2/6                   $239,565.19   51.70   FULL       8.550         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $582,680.90   30.66   STD        8.900         356   P           CO              1     Y
 80.00   A2/6 B30/40            $319,584.67   46.05   STD        7.600         356   P           SFR             1     Y
 80.00   IOA2/6                 $152,000.00   47.86   STD        7.900         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $463,373.34   49.77   STD        8.600         356   P           SFR             1     Y
 80.00   A2/6                   $578,905.35   41.63   STD        8.350         357   P           CO              1     Y
 80.00   A2/6 B30/40            $115,883.88   37.67   STD        8.500         356   P           CO              1     Y
 80.00   A2/6                   $111,702.44   35.67   LIM        8.100         356   P           SFR             1     N
 80.00   A2/6 B30/40            $151,895.88   35.04   STD        8.800         357   I           SFR             1     N
 80.00   A2/6                   $227,388.12   41.36   STD        8.050         356   P           SFR             1     N
 80.00   A2/6                   $650,553.75   43.15   STD        7.550         357   P           SFR             1     Y
 80.00   A2/6                   $138,811.04   47.36   FULL       7.850         356   P           PUD             1     Y
 80.00   A2/6                   $459,100.32   41.50   STD        8.175         357   P           2F              1     Y
 80.00   A2/6                   $169,242.15   53.87   FULL       7.800         357   S           PUD             1     N
 80.00   A2/6                   $311,440.53   49.95   STD        8.600         357   P           SFR             1     Y
 80.00   IOA2/6                 $412,000.00   49.25   FULL       7.350         357   P           SFR             1     Y
 80.00   A2/6                   $ 99,791.12   18.52   FULL       7.850         357   I           SFR             1     N
 80.00   IOA2/6                 $530,800.00   47.55   LIM        7.750         357   P           SFR             1     Y
 80.00   A2/6                   $ 93,352.69   55.54   FULL       9.225         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $117,497.95   43.21   FULL       7.990         357   P           SFR             1     Y
 80.00   F30                    $158,079.00   30.09   FULL       8.000         357   P           SFR             1     N
 80.00   A2/6                   $165,280.11   54.24   STD        9.650         356   P           PUD             1     N
 80.00   A2/6                   $166,062.11   49.52   FULL       7.990         357   I           SFR             1     N
 80.00   A2/6 B30/50            $203,934.59   51.37   FULL       8.450         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $243,797.86   38.36   STD        8.150         357   P           2F              1     N
 80.00   A2/6 B30/40            $325,386.63   50.19   STD        8.950         357   P           SFR             1     Y
 80.00   A2/6                   $333,019.40   25.85   FULL       8.750         357   I           4F              1     N
 80.00   A2/6 B30/40            $367,582.81   47.86   LIM        7.050         357   P           SFR             1     Y
 80.00   IOA2/6                 $235,160.00   43.85   STD        7.500         357   P           SFR             1     Y
 80.00   IOA2/6                 $228,000.00   49.91   STD        8.250         357   P           SFR             1     Y
 80.00   A2/6                   $ 83,825.97   45.14   FULL       7.890         357   P           CO              1     Y
 80.00   A3/6 B30/40            $391,579.94   45.51   STD        7.250         357   P           SFR             1     Y
 80.00   A3/6                   $108,596.33   34.37   FULL       8.390         357   P           CO              1     Y
 80.00   A2/6                   $415,332.88   49.41   STD        9.140         357   P           SFR             1     Y
 80.00   F30                    $159,603.47   47.63   FULL       6.990         357   P           SFR             1     Y
 80.00   A3/6                   $283,520.29   46.83   FULL       8.890         357   P           SFR             1     N
 80.00   A2/6                   $179,676.58   48.75   FULL       8.590         357   P           CO              1     Y
 80.00   F30                    $232,277.39   20.80   STD        7.490         357   I           2F              1     N
 80.00   A3/6                   $239,532.99   49.20   FULL       8.200         357   P           SFR             1     Y
 80.00   A3/6                   $159,703.54   43.70   STD        8.440         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $251,785.75   45.50   FULL       8.060         357   P           2F              1     Y
 80.00   IOA2/6                 $220,000.00   48.49   STD        9.840         357   P           SFR             1     N
 80.00   IOA2/6                 $120,000.00   45.18   FULL       8.140         356   P           SFR             1     Y
 80.00   A2/6                   $188,290.25   47.40   FULL       8.020         356   P           SFR             1     Y
 80.00   A3/6                   $227,619.66   53.29   STD        8.950         357   P           3F              1     Y
 80.00   A3/6                   $215,539.69   39.92   STD        7.750         357   P           4F              1     N
 80.00   A2/6                   $104,664.17   49.12   STD       10.150         357   P           SFR             1     Y
 80.00   IOA2/6                 $271,200.00   49.94   FULL       6.440         357   P           2F              1     Y
 80.00   A3/6 B30/40            $139,917.31   37.07   STD        9.300         357   P           SFR             1     N
 80.00   A2/6                   $111,804.89   57.24   STD        8.740         357   P           SFR             1     Y
 80.00   IOA3/6                 $328,000.00   46.44   STD        7.350         357   P           SFR             1     Y
 80.00   A3/6                   $287,613.76   49.12   STD        9.990         357   P           3F              1     Y
 80.00   IOA2/6                 $262,400.00   49.26   STD        8.590         357   P           SFR             1     N
 80.00   A2/6                   $197,355.98   52.03   FULL       7.490         357   P           SFR             1     Y
 80.00   IOA3/6                 $264,000.00   42.91   STD        7.950         357   P           CO              1     Y
 80.00   IOA2/6                 $200,800.00   40.41   STD        8.540         357   P           TH              1     Y
 80.00   A2/6                   $156,471.85   36.42   FULL       7.840         357   P           SFR             1     Y
 80.00   A3/6                   $267,504.43   47.05   STD        8.450         357   P           SFR             1     Y
 80.00   A2/6                   $142,894.84   40.21   STD        7.750         357   P           SFR             1     Y
 80.00   A3/6                   $171,738.74   48.02   FULL       9.400         357   P           SFR             1     N
 80.00   A2/6                   $110,958.23   49.17   FULL       7.650         357   P           SFR             1     Y
 80.00   A3/6                   $251,370.10   40.85   STD        8.400         356   P           2F              1     Y
 80.00   F30                    $150,883.57   45.58   STD        7.840         357   P           SFR             1     Y
 80.00   F30                    $119,784.38   29.41   STD        8.590         357   P           SFR             1     N
 80.00   A3/6                   $ 72,700.48   56.38   FULL       9.900         357   P           SFR             1     Y
 80.00   A3/6                   $239,599.62   47.49   STD        8.950         357   P           3F              1     N
 80.00   IOA2/6                 $464,000.00   46.98   LIM        6.940         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $189,425.70   44.11   STD        8.790         356   P           SFR             1     Y
 80.00   A2/6                   $127,784.25   52.72   STD        8.900         357   P           SFR             1     Y
 80.00   IOA2/6                 $ 72,800.00   47.30   STD        9.590         357   P           SFR             1     Y
 80.00   A2/6                   $147,680.74   38.30   STD        8.690         357   P           SFR             1     N
 80.00   A3/6 B30/40            $123,932.86   47.26   STD        9.590         357   P           SFR             1     Y
 80.00   A3/6                   $147,009.21   40.01   FULL      10.150         357   P           SFR             1     N
 80.00   F30                    $ 74,723.54   43.40   FULL      11.250         357   P           SFR             1     N
 80.00   IOA2/6                 $364,000.00   44.13   STD        7.950         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $251,819.58   42.58   STD        8.650         357   P           TH              1     Y
 80.00   A3/6                   $239,570.54   49.73   STD        8.610         357   P           3F              1     Y
 80.00   A2/6                   $139,775.97   49.93   STD        9.150         357   P           SFR             1     Y
 80.00   A3/6                   $190,033.26   35.09   FULL       8.250         357   P           CO              1     Y
 80.00   A3/6                   $255,526.63   46.02   STD        8.450         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $139,063.00   48.48   STD        7.550         357   P           TH              1     Y
 80.00   F30                    $249,833.39   46.79   FULL       7.450         357   P           SFR             1     Y
 80.00   A2/6                   $127,723.91   48.13   FULL       7.690         357   P           SFR             1     N
 80.00   A3/6                   $399,245.08   51.59   STD        8.350         357   P           SFR             1     Y
 80.00   IOA2/6                 $238,000.00   40.59   STD        7.990         357   P           SFR             1     N
 80.00   A2/6                   $ 84,190.83   46.64   STD        6.990         357   P           SFR             1     Y
 80.00   A2/6                   $229,045.89   51.74   FULL       7.125         357   P           2F              1     N
 80.00   A2/6                   $142,110.85   51.79   FULL       7.990         357   I           SFR             1     Y
 80.00   A3/6                   $222,072.67   54.09   STD        9.550         357   P           4F              1     Y
 80.00   A2/6 B30/40            $391,679.04   49.58   STD        8.190         357   P           SFR             1     Y
 80.00   A2/6                   $ 87,325.08   36.08   STD        9.300         354   P           SFR             1     Y
 80.00   A2/6                   $128,760.01   45.38   STD        9.800         355   P           SFR             1     Y
 80.00   A2/6                   $104,490.37   38.25   FULL       9.590         354   P           SFR             1     N
 80.00   A2/6                   $ 93,019.05   45.14   STD        9.850         354   P           SFR             1     Y
 80.00   A2/6                   $ 61,503.66   35.96   FULL      10.640         356   P           SFR             1     Y
 80.00   A2/6                   $103,758.56   54.98   FULL       9.850         355   P           SFR             1     Y
 80.00   A2/6                   $110,947.26   42.89   FULL       9.950         355   P           SFR             1     Y
 80.00   A2/6                   $ 71,738.75   33.65   FULL      10.000         355   P           SFR             1     Y
 80.00   A2/6                   $140,417.53   41.83   FULL       7.990         356   P           SFR             1     Y
 80.00   A2/6                   $183,474.66   49.82   STD        9.650         355   P           2F              1     Y
 80.00   A2/6                   $ 95,845.06   42.77   STD       10.490         356   P           CO              1     N
 80.00   A3/6                   $144,522.18   45.53   STD        9.900         357   P           SFR             1     Y
 80.00   A2/6                   $109,390.77   47.21   STD        9.700         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $141,470.18   46.76   STD        8.800         356   P           SFR             1     Y
 80.00   A3/6                   $215,694.56   51.97   FULL       9.740         357   P           SFR             1     N
 80.00   A3/6                   $116,557.52   40.47   STD        9.300         356   P           SFR             1     Y
 80.00   A3/6                   $ 83,831.50   43.54   FULL       8.050         357   P           SFR             1     Y
 80.00   A3/6                   $142,532.67   38.98   STD        8.390         357   P           SFR             1     N
 80.00   A2/6                   $131,782.07   39.78   STD        9.000         357   P           SFR             1     N
 80.00   F30                    $164,507.51   54.22   STD        8.650         357   P           SFR             1     N
 80.00   A3/6                   $ 87,846.99   37.12   FULL       8.750         357   P           SFR             1     Y
 80.00   A2/6                   $ 79,041.50   48.21   STD        8.240         357   P           CO              1     Y
 80.00   A3/6                   $328,636.64   25.95   FULL       7.625         356   P           SFR             1     N
 80.00   F30                    $ 86,181.01   35.50   FULL       8.240         357   P           SFR             1     N
 80.00   A3/6                   $121,332.95   39.15   FULL       7.600         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $ 91,913.63   19.98   FULL       7.725         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $179,812.50   49.90   FULL       7.350         357   P           SFR             1     Y
 80.00   F30                    $147,700.10   48.27   STD        8.000         357   P           SFR             1     N
 80.00   A3/6                   $ 67,893.42   39.36   FULL       9.250         357   P           SFR             1     N
 80.00   A3/6                   $124,491.31   34.50   FULL       7.000         357   P           SFR             1     N
 80.00   F20                    $115,277.06   49.80   STD        7.640         237   P           SFR             1     N
 80.00   IOA3/6                 $200,800.00   47.47   FULL       6.875         357   P           SFR             1     Y
 80.00   IOA2/6                 $440,000.00   42.91   STD        8.415         356   P           2F              1     Y
 80.00   A2/6 B30/40            $158,262.56   47.14   STD        7.990         357   P           SFR             1     Y
 80.00   IOA2/6                 $400,000.00   45.08   STD        7.615         357   P           TH              1     Y
 80.00   IOA2/6                 $231,200.00   45.02   STD        8.115         357   P           SFR             1     Y
 80.00   IOA2/6                 $240,000.00   50.70   FULL       7.640         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $308,899.12   48.01   STD        7.590         357   P           SFR             1     N
 80.00   IOA2/6                 $423,829.47   39.16   STD        9.140         357   P           SFR             1     Y
 80.00   IOA2/6                 $340,000.00   48.59   STD        7.965         357   P           SFR             1     Y
 80.00   A3/6                   $319,346.96   49.65   STD        7.965         357   I           SFR             1     N
 80.00   IOA2/6                 $191,950.00   33.88   LIM        7.565         357   P           CO              1     Y
 80.00   IOA2/6                 $480,000.00   41.95   STD        7.865         357   P           SFR             1     N
 80.00   A2/6 B30/40            $387,648.52   35.13   STD        7.840         357   P           SFR             1     Y
 80.00   IOA2/6                 $368,000.00   57.12   STD        9.815         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $459,564.35   46.22   STD        8.690         356   P           SFR             1     Y
 80.00   IOA2/6                 $307,971.10   42.43   STD        7.290         356   P           SFR             1     Y
 80.00   IOA2/6                 $412,000.00   48.21   STD        7.565         357   P           CO              1     Y
 80.00   A3/6 B30/40            $267,715.62   43.20   STD        8.300         356   P           CO              1     N
 80.00   IOA2/6                 $424,000.00   47.44   STD        8.120         357   P           3F              1     Y
 80.00   A2/6                   $163,513.69   40.29   STD        8.240         356   P           SFR             1     Y
 80.00   IOA3/6                 $233,600.00   43.05   LIM        6.790         357   P           CO              1     N
 80.00   A3/6                   $163,649.81   43.60   STD        7.740         357   P           SFR             1     N
 80.00   IOA2/6                 $238,400.00   49.32   STD        8.615         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $343,674.70   39.23   STD        7.690         357   P           SFR             1     Y
 80.00   A2/6                   $154,101.99   46.71   STD        8.240         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $143,895.06   43.56   STD        8.590         357   P           SFR             1     Y
 80.00   IOA2/6                 $244,350.00   44.02   STD        7.790         356   P           SFR             1     Y
 80.00   A3/6                   $315,364.83   48.04   FULL       8.040         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $191,880.20   46.34   STD        9.115         357   P           SFR             1     Y
 80.00   A2/6                   $156,437.35   49.66   FULL       7.340         357   P           SFR             1     Y
 80.00   A2/6                   $162,080.12   46.18   STD        8.140         357   P           SFR             1     N
 80.00   IOA2/6                 $259,950.00   43.72   STD        8.025         357   P           SFR             1     N
 80.00   A3/6                   $375,346.29   37.60   STD        8.750         357   P           SFR             1     N
 80.00   A3/6                   $191,682.36   44.19   FULL       8.990         357   P           2F              1     N
 80.00   IOA2/6                 $116,000.00   34.41   STD        8.275         357   P           SFR             1     Y
 80.00   A3/6                   $134,205.28   49.09   STD        9.625         357   P           SFR             1     Y
 80.00   IOA2/6                 $390,713.00   48.92   STD       10.000         357   P           SFR             1     Y
 80.00   A2/6                   $191,569.85   26.73   FULL       7.500         357   P           SFR             1     N
 80.00   A2/6                   $178,689.17   45.22   STD        7.750         356   P           SFR             1     N
 80.00   A2/6 B30/40            $415,449.13   41.17   FULL       8.325         355   P           SFR             1     Y
 80.00   IOA2/6                 $128,000.00   28.92   STD        8.850         355   P           SFR             1     Y
 80.00   IOA2/6                 $240,000.00   47.93   STD        8.500         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $253,906.27   48.25   STD        6.975         355   P           SFR             1     N
 80.00   IOA2/6                 $192,000.00   47.70   FULL       7.250         355   P           PUD             1     Y
 80.00   IOA2/6                 $299,954.55   43.99   STD        7.990         355   P           CO              1     N
 80.00   B30/40                 $ 74,252.65   37.56   FULL       7.875         355   P           PUD             1     Y
 80.00   A2/6                   $139,690.03   35.01   STD        8.990         356   P           SFR             1     N
 80.00   IOA2/6                 $406,400.00   43.91   STD        7.950         356   P           2F              1     N
 80.00   A2/6 B30/40            $ 75,938.85   36.91   FULL       9.275         356   P           SFR             1     Y
 80.00   A2/6                   $ 50,295.35   16.85   STD        9.300         356   I           SFR             1     N
 80.00   A2/6 B30/40            $398,710.65   49.98   STD        7.800         356   P           SFR             1     N
 80.00   A2/6                   $ 75,881.47   47.57   FULL      10.650         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $172,366.23   41.17   FULL       7.450         356   P           CO              1     N
 80.00   A2/6 B30/40            $269,671.78   47.28   FULL       6.800         357   P           SFR             1     N
 80.00   A2/6 B30/40            $156,643.73   32.92   LIM        7.506         357   P           SFR             1     N
 80.00   A2/6                   $133,712.98   47.44   STD        9.150         356   P           SFR             1     Y
 80.00   IOA2/6                 $264,000.00   44.67   STD        6.850         357   P           SFR             1     Y
 80.00   IOA2/6                 $443,200.00   48.17   STD        6.700         357   P           PUD             1     Y
 80.00   IOA2/6                 $188,000.00   47.78   LIM        7.225         357   P           SFR             1     N
 80.00   A2/6 B30/40            $ 51,958.76   12.86   STD        8.300         357   P           PUD             1     Y
 80.00   A2/6                   $690,510.44   46.55   STD        7.700         357   P           SFR             1     N
 80.00   IOA2/6                 $392,000.00   48.74   STD        7.990         357   P           SFR             1     Y
 80.00   IOA2/6                 $431,200.00   43.36   STD        8.350         357   P           CO              1     Y
 80.00   A2/6                   $555,173.04   27.27   STD        9.500         357   P           PUD             1     N
 80.00   IOA2/6                 $424,000.00   45.38   STD        7.325         357   P           SFR             1     Y
 80.00   A2/6                   $213,455.39   48.58   LIM        7.140         355   P           SFR             1     Y
 80.00   A2/6 B30/40            $295,678.13   46.72   STD        8.990         355   P           CO              1     Y
 80.00   A2/6 B30/40            $179,801.36   41.15   STD        8.940         355   P           SFR             1     Y
 80.00   A3/6                   $142,013.19   43.11   FULL       7.990         356   P           SFR             1     Y
 80.00   A3/6 B30/40            $106,681.64   39.98   STD        8.150         356   P           SFR             1     Y
 80.00   A2/6                   $115,802.48   39.72   FULL      10.240         356   P           SFR             1     Y
 80.00   F30                    $143,608.83   35.75   STD        7.990         356   P           SFR             1     N
 80.00   A3/6                   $247,341.16   48.49   STD        8.100         356   P           SFR             1     N
 80.00   IOA2/6                 $495,865.68   47.06   LIM        6.935         356   P           SFR             1     Y
 80.00   IOA2/6                 $360,000.00   45.74   STD        9.400         356   P           SFR             1     Y
 80.00   F30                    $ 71,820.04   51.74   FULL       8.400         356   P           SFR             1     N
 80.00   A2/6                   $307,236.38   47.07   STD        8.440         356   P           SFR             1     Y
 80.00   IOA2/6                 $368,000.00   33.41   LIM        7.500         356   P           SFR             1     Y
 80.00   IOA2/6                 $275,909.55   50.60   STD        7.865         356   P           SFR             1     Y
 80.00   A2/6                   $402,902.61   50.41   STD        7.990         356   P           3F              1     Y
 80.00   IOA3/6                 $488,000.00   45.86   STD        7.515         356   P           SFR             1     Y
 80.00   A2/6                   $115,726.74   49.02   STD        8.690         356   P           SFR             1     Y
 80.00   IOA2/6                 $109,600.00   30.11   STD        8.115         356   P           SFR             1     Y
 80.00   IOA2/6                 $176,000.00   48.23   STD        8.800         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $407,630.40   53.29   STD        7.840         357   P           SFR             1     N
 80.00   A2/6                   $ 71,871.94   43.14   STD        8.640         357   P           SFR             1     Y
 80.00   A3/6                   $223,517.83   47.22   STD        7.700         357   P           SFR             1     N
 80.00   A2/6 B30/40            $223,006.36   48.75   STD        7.990         357   P           SFR             1     Y
 80.00   F30                    $171,658.43   38.67   FULL       8.100         357   P           SFR             1     N
 80.00   A2/6                   $ 83,845.95   37.31   FULL       8.490         357   P           SFR             1     Y
 80.00   IOA2/6                 $282,400.00   44.80   FULL       7.890         357   P           SFR             1     Y
 80.00   A3/6                   $ 47,932.13   44.78   STD        9.740         357   I           SFR             1     N
 80.00   A2/6 B30/40            $192,596.29   27.25   STD        7.300         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $350,083.48   49.56   STD        7.850         357   P           SFR             1     Y
 80.00   F30                    $ 75,834.42   23.89   FULL       7.640         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $124,691.73   40.91   FULL       7.990         357   P           SFR             1     Y
 80.00   A2/6                   $263,345.71   41.01   FULL       6.990         357   P           SFR             1     Y
 80.00   IOA2/6                 $337,600.00   29.72   FULL       7.940         357   P           TH              1     Y
 80.00   A2/6 B30/40            $153,513.28   34.90   STD        9.450         357   P           SFR             1     N
 80.00   A2/6 B30/40            $243,800.22   40.90   FULL       8.190         357   P           CO              1     N
 80.00   A3/6                   $ 92,670.17   44.06   FULL       9.790         357   P           SFR             1     N
 80.00   A3/6 B30/40            $459,382.32   48.39   FULL       6.440         357   P           SFR             1     Y
 80.00   A2/6                   $103,761.83   48.07   FULL       7.390         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $231,784.33   49.49   STD        7.750         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $207,830.19   49.39   STD        8.200         357   P           2F              1     Y
 80.00   A2/6 B30/40            $239,769.76   47.05   FULL       7.640         357   P           TH              1     N
 80.00   A2/6 B30/40            $423,696.45   46.60   STD        8.650         357   P           SFR             1     N
 80.00   A2/6 B30/40            $112,720.19   37.68   STD        8.690         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $499,704.74   42.73   STD        9.300         357   P           SFR             1     Y
 80.00   A2/6                   $100,622.92   44.96   STD        8.700         357   P           SFR             1     Y
 80.00   F30                    $334,971.43   39.90   STD        7.690         357   P           SFR             1     N
 80.00   A2/6 B30/40            $139,897.99   40.39   STD        8.590         357   P           SFR             1     N
 80.00   A2/6                   $451,899.01   10.35   FULL       8.090         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $239,760.40   48.56   LIM        7.500         357   P           SFR             1     N
 80.00   A3/6                   $135,797.30   34.91   STD        9.490         357   P           SFR             1     N
 80.00   F30                    $ 80,703.87   46.84   STD       10.550         357   P           SFR             1     Y
 80.00   F30                    $175,841.92   52.04   FULL      11.840         357   P           SFR             1     Y
 80.00   F30                    $ 69,073.34   49.96   FULL       8.500         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $ 59,160.64   33.37   FULL       8.900         357   P           SFR             1     Y
 80.00   F15                    $ 75,375.93   40.10   FULL       8.690         177   P           SFR             1     N
 80.00   F30                    $ 67,056.52   43.97   FULL       7.740         357   P           SFR             1     Y
 80.00   A2/6                   $ 64,261.10   48.09   FULL       7.690         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $203,863.94   39.56   STD        8.890         357   P           SFR             1     N
 80.00   A3/6                   $114,202.12   20.34   FULL       8.775         357   P           SFR             1     N
 80.00   A3/6 B30/40            $222,213.07   41.11   FULL       8.100         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $115,850.95   34.37   FULL       6.600         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $111,879.99   44.44   STD        7.250         357   P           SFR             1     Y
 80.00   IOA2/6                 $608,000.00   49.06   STD        7.500         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $599,357.04   44.10   STD        7.250         357   P           SFR             1     Y
 80.00   F30                    $171,633.45   39.65   FULL       7.750         357   P           CO              1     Y
 80.00   A2/6 B30/40            $599,357.04   40.37   STD        7.250         357   P           SFR             1     N
 80.00   A3/6                   $ 79,062.29   46.92   FULL       8.750         357   P           SFR             1     N
 80.00   F30                    $ 52,719.63   35.11   FULL       9.390         357   P           SFR             1     N
 80.00   A3/6                   $127,747.88   45.91   FULL       8.140         357   P           SFR             1     N
 80.00   F30                    $ 95,789.32   46.93   FULL       7.940         357   P           SFR             1     N
 80.00   A3/6                   $ 83,850.61   41.86   STD        8.640         357   P           SFR             1     N
 80.00   F15                    $ 74,537.34   51.04   FULL       7.890         177   P           SFR             1     N
 80.00   F30                    $187,594.50   53.35   FULL       7.690         357   P           SFR             1     N
 80.00   F30                    $ 71,851.12   41.82   STD        7.900         357   P           SFR             1     N
 80.00   A3/6                   $ 91,767.47   32.73   FULL       6.890         357   P           SFR             1     N
 80.00   A3/6                   $267,369.02   51.56   FULL       7.250         357   P           SFR             1     N
 80.00   A2/6                   $327,501.70   40.91   FULL       9.890         357   P           SFR             1     N
 80.00   A3/6 B30/40            $177,392.95   43.92   FULL       6.950         357   P           SFR             1     N
 80.00   A3/6 B30/40            $175,882.25   37.37   STD        8.880         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $171,813.06   29.25   STD        7.200         357   P           SFR             1     N
 80.00   A3/6 B30/40            $241,384.88   39.03   STD        7.900         357   P           SFR             1     N
 80.00   A3/6 B30/40            $207,816.92   44.19   STD        7.940         357   P           SFR             1     N
 80.00   A2/6 B30/40            $356,427.25   48.18   STD        7.340         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $279,677.57   35.95   STD        7.590         357   P           SFR             1     Y
 80.00   IOA2/6                 $482,400.00   45.42   LIM        7.040         357   P           SFR             1     N
 80.00   IOA2/6                 $476,800.00   42.91   STD        7.840         357   P           SFR             1     N
 80.00   A2/6 B30/40            $131,875.18   43.65   STD        7.690         357   P           SFR             1     Y
 80.00   IOA2/6                 $412,000.00   48.04   STD        8.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $203,835.37   39.05   STD        8.240         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $420,905.06   49.63   STD        8.190         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $349,849.37   48.63   STD        7.490         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $367,575.77   45.80   STD        6.990         357   P           SFR             1     N
 80.00   A2/6 B30/40            $382,802.50   46.71   STD        7.365         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $427,478.26   44.12   STD        6.790         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $459,498.64   49.97   STD        7.190         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $379,523.74   27.00   STD        6.690         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $543,521.19   47.56   STD        7.940         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $463,649.31   36.77   STD        8.465         357   P           SFR             1     N
 80.00   IOA2/6                 $280,000.00   49.47   STD        9.090         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $151,898.62   53.30   STD        8.890         357   P           SFR             1     N
 80.00   IOA2/6                 $126,400.00   46.48   STD        8.215         357   P           SFR             1     Y
 80.00   IOA2/6                 $460,000.00   39.37   LIM        7.040         357   P           4F              1     Y
 80.00   IOA2/6                 $460,000.00   48.68   STD        9.090         357   P           4F              1     Y
 80.00   IOA2/6                 $264,000.00   48.33   LIM        6.990         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $511,549.35   59.92   STD        7.940         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $199,831.42   40.63   STD        8.090         357   P           CO              1     N
 80.00   A3/6 B30/40            $384,343.83   47.01   STD        6.890         357   P           SFR             1     Y
 80.00   B30/40                 $351,724.07   45.77   STD        8.340         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $447,525.32   46.68   STD        7.290         357   P           2F              1     Y
 80.00   A2/6 B30/40            $335,663.62   47.50   STD        7.490         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $303,649.55   49.21   FULL       6.990         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $188,703.77   29.44   STD        9.790         357   P           SFR             1     N
 80.00   A2/6 B30/40            $191,431.35   46.80   STD        7.940         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $220,608.44   43.90   STD        7.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $231,795.78   51.53   STD        7.940         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $135,881.16   31.11   LIM        7.965         357   P           SFR             1     N
 80.00   A2/6 B30/40            $290,162.22   42.95   STD        8.190         357   P           CO              1     Y
 80.00   A2/6 B30/40            $299,716.31   49.90   STD        7.690         357   P           SFR             1     Y
 80.00   IOA2/6                 $356,000.00   39.76   STD        8.165         357   P           PUD             1     N
 80.00   A2/6                   $159,691.19   42.80   STD        8.240         357   P           SFR             1     Y
 80.00   IOA2/6                 $272,000.00   44.32   STD        7.815         357   P           SFR             1     N
 80.00   IOA2/6                 $148,000.00   49.84   FULL       8.240         357   P           SFR             1     Y
 80.00   A2/6                   $349,533.30   46.81   STD        7.000         357   P           SFR             1     N
 80.00   A3/6                   $459,019.70   45.52   STD        7.750         357   P           SFR             1     N
 80.00   A2/6 B30/40            $120,692.46   45.46   STD        7.900         357   P           SFR             1     Y
 80.00   IOA2/6                 $144,000.00   38.64   STD        6.940         357   P           SFR             1     N
 80.00   A3/6 B30/40            $143,854.17   43.78   FULL       7.450         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $175,767.54   43.56   FULL       6.500         357   P           SFR             1     Y
 80.00   IOA2/6                 $480,000.00   42.16   STD        7.765         357   P           SFR             1     Y
 80.00   A2/6                   $167,648.39   40.03   STD        7.840         357   P           SFR             1     N
 80.00   A2/6                   $179,627.06   40.47   STD        7.890         357   P           SFR             1     N
 80.00   A2/6 B30/40            $189,420.69   42.77   STD        7.690         357   P           SFR             1     Y
 80.00   A2/6                   $ 95,789.18   46.08   FULL       7.600         357   P           SFR             1     Y
 80.00   A3/6                   $ 51,910.53   44.78   STD        8.800         357   P           SFR             1     N
 80.00   F30                    $ 72,673.42   37.86   STD        8.750         357   P           SFR             1     Y
 80.00   A3/6                   $343,401.91   46.09   FULL       8.750         357   P           SFR             1     N
 80.00   F30                    $126,180.24   46.13   STD        8.750         357   P           SFR             1     N
 80.00   F30                    $ 79,860.91   36.37   FULL       8.750         357   P           SFR             1     N
 80.00   F30                    $ 79,857.71   44.72   FULL       8.640         357   P           SFR             1     N
 80.00   F30                    $113,353.00   31.88   FULL       7.650         357   P           SFR             1     N
 80.00   F30                    $ 71,874.83   38.08   STD        8.750         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $113,516.02   45.96   STD        8.600         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $173,473.13   41.69   FULL       8.580         357   P           SFR             1     Y
 80.00   F30                    $101,418.76   49.42   FULL       8.625         357   P           SFR             1     Y
 80.00   F30                    $ 95,818.81   43.50   FULL       8.350         357   P           SFR             1     Y
 80.00   A3/6                   $ 69,479.00   44.12   STD        8.750         357   P           SFR             1     Y
 80.00   A3/6                   $103,809.27   26.75   STD        8.490         357   P           SFR             1     N
 80.00   A2/6                   $399,366.98   49.54   STD        8.050         358   P           SFR             1     N
 80.00   IOA2/6                 $224,000.00   49.11   STD        8.650         358   P           SFR             1     Y
 80.00   A3/6                   $175,737.94   52.92   STD        7.500         358   P           SFR             1     Y
 80.00   F30                    $ 67,936.28   26.57   FULL       9.750         358   P           SFR             1     N
 80.00   IOA3/6                 $352,000.00   50.91   STD        8.290         358   P           SFR             1     N
 80.00   IOA3/6                 $316,000.00   45.41   STD        8.350         358   P           CO              1     Y
 80.00   A2/6                   $ 95,865.40   48.69   STD        7.800         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $203,866.56   33.02   STD        7.550         358   P           SFR             1     N
 80.00   A2/6                   $ 99,869.12   50.53   STD        8.140         358   P           SFR             1     N
 80.00   A3/6                   $199,730.16   49.11   STD        7.990         358   I           2F              1     N
 80.00   A3/6                   $139,872.94   48.73   FULL       9.900         358   P           CO              1     N
 80.00   A2/6                   $ 91,865.73   40.09   STD        7.600         358   P           SFR             1     Y
 80.00   A3/6                   $253,310.13   51.72   STD        8.800         358   P           3F              1     Y
 80.00   IOA2/6                 $198,400.00   38.53   FULL       6.240         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $278,219.97   46.62   FULL       7.590         358   P           SFR             1     Y
 80.00   IOA2/6                 $228,000.00   39.70   FULL       6.740         358   P           CO              1     N
 80.00   A3/6                   $ 71,937.38   41.30   STD       10.100         358   P           SFR             1     Y
 80.00   A3/6                   $ 59,145.70   39.71   FULL       9.850         358   P           SFR             1     Y
 80.00   A3/6                   $121,473.44   48.29   STD        9.250         358   P           SFR             1     Y
 80.00   A3/6                   $115,827.28   48.96   STD        7.500         358   P           SFR             1     N
 80.00   A3/6                   $117,438.43   43.24   FULL       7.900         358   P           PUD             1     Y
 80.00   A3/6                   $315,705.83   47.26   STD        9.780         358   P           SFR             1     Y
 80.00   A3/6                   $ 95,864.46   37.37   FULL       7.765         358   P           SFR             1     N
 80.00   A3/6                   $ 71,944.23   35.31   FULL      10.640         358   P           SFR             1     N
 80.00   F20                    $ 68,576.72   44.68   FULL       8.390         238   P           SFR             1     N
 80.00   A3/6 B30/40            $207,849.96   38.90   FULL       7.205         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $291,816.50   43.82   STD        7.690         358   P           SFR             1     Y
 80.00   IOA2/6                 $304,000.00   44.48   STD        8.215         358   P           SFR             1     Y
 80.00   A2/6                   $236,494.79   44.51   STD        8.215         358   P           SFR             1     Y
 80.00   IOA2/6                 $363,997.63   45.87   STD        6.500         350   P           SFR             1     N
 80.00   IOA2/6                 $303,200.00   46.83   STD        6.700         355   P           SFR             1     N
 80.00   A2/6                   $195,662.72   43.73   STD        8.800         357   P           SFR             1     Y
 80.00   A2/6                   $148,403.06   45.90   FULL       7.750         357   P           CO              1     N
 80.00   A2/6                   $344,727.30   39.16   LIM        8.350         356   P           SFR             1     Y
 80.00   IOA3/6                 $520,000.00   42.06   STD        7.250         358   P           2F              1     N
 80.00   A2/6                   $ 60,738.03   43.24   STD        9.350         358   P           SFR             1     N
 80.00   A2/6                   $347,507.19   46.61   STD        7.750         358   P           SFR             1     N
 80.00   A2/6                   $219,593.19   41.56   FULL       8.450         357   P           SFR             1     N
 80.00   IOA2/6                 $240,000.00   42.41   FULL       7.550         357   P           SFR             1     Y
 80.00   A3/6                   $195,791.26   48.22   STD        9.140         358   P           SFR             1     Y
 80.00   A2/6                   $217,275.36   48.85   STD        7.490         358   P           SFR             1     Y
 80.00   A3/6                   $207,693.39   45.20   STD        7.550         358   P           SFR             1     Y
 80.00   A2/6                   $ 59,879.41   25.13   FULL       8.040         357   P           SFR             1     Y
 80.00   A2/6                   $ 50,757.21   30.53   FULL      10.250         358   P           2F              1     N
 80.00   A3/6                   $163,755.82   46.07   FULL       7.500         358   P           CO              1     Y
 80.00   A2/6                   $188,518.88   46.22   STD        7.500         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $293,029.02   48.28   STD        7.950         358   P           SFR             1     Y
 80.00   A3/6                   $133,433.85   49.99   STD        8.390         358   P           CO              1     Y
 80.00   A3/6                   $247,627.04   44.05   FULL       7.450         358   P           TH              1     Y
 80.00   IOA3/6                 $352,000.00   48.32   STD        7.990         358   P           SFR             1     Y
 80.00   IOA2/6                 $148,000.00   38.60   STD        8.400         355   P           CO              1     N
 80.00   A2/6                   $239,565.22   41.62   STD        8.550         357   P           SFR             1     Y
 80.00   A3/6                   $287,504.41   51.23   STD        8.800         357   P           3F              1     Y
 80.00   A3/6                   $359,659.13   54.13   FULL       9.700         358   P           SFR             1     N
 80.00   A2/6                   $243,629.37   53.86   STD        7.400         358   P           TH              1     N
 80.00   A2/6                   $108,661.94   45.03   FULL      10.250         357   P           SFR             1     N
 80.00   A3/6                   $159,691.19   45.98   STD        8.240         357   P           SFR             1     N
 80.00   A2/6                   $378,628.59   37.34   STD        7.440         358   P           SFR             1     N
 80.00   A2/6                   $130,911.29   49.41   FULL       7.590         357   P           CO              1     Y
 80.00   A2/6 B30/40            $364,330.84   48.14   STD        7.690         357   P           SFR             1     Y
 80.00   A3/6                   $103,071.91   24.07   STD        8.400         358   P           SFR             1     N
 80.00   IOA2/6                 $106,400.00   44.30   STD        8.790         358   P           SFR             1     N
 80.00   A2/6                   $231,636.94   40.52   STD        7.250         358   P           SFR             1     Y
 80.00   A3/6                   $150,976.66   47.12   STD        7.540         358   P           SFR             1     N
 80.00   IOA3/6                 $190,400.00   49.71   FULL       6.490         358   P           SFR             1     Y
 80.00   IOF30                  $180,000.00   47.63   STD        8.350         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $171,142.23   34.56   STD        9.800         358   P           CO              1     Y
 80.00   A3/6                   $177,424.59   43.63   STD        9.500         358   P           CO              1     Y
 80.00   A3/6                   $135,638.09   29.00   STD        6.640         357   P           SFR             1     N
 80.00   A3/6                   $ 69,819.59   47.06   STD        8.250         356   P           SFR             1     Y
 80.00   F30                    $ 55,870.16   25.11   STD        9.750         357   P           SFR             1     Y
 80.00   A3/6                   $ 99,098.89   49.08   FULL       9.350         358   P           SFR             1     N
 80.00   A2/6                   $ 79,031.21   42.23   STD        7.750         357   P           SFR             1     Y
 80.00   A2/6                   $110,613.84   39.53   FULL       6.890         358   P           SFR             1     Y
 80.00   A3/6                   $ 63,520.84   54.23   FULL      10.340         357   P           SFR             1     Y
 80.00   IOA3/6                 $365,600.00   47.33   STD        7.350         358   P           SFR             1     Y
 80.00   A2/6                   $106,234.82   49.30   FULL       7.290         358   P           2F              1     Y
 80.00   A2/6 B30/40            $144,732.95   49.07   STD        8.740         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $115,945.64   49.57   STD        8.700         358   P           SFR             1     Y
 80.00   A2/6                   $ 95,916.51   43.79   STD       10.100         358   P           SFR             1     Y
 80.00   F30                    $351,260.80   27.71   FULL       6.490         358   P           SFR             1     Y
 80.00   IOA2/6                 $160,000.00   44.81   FULL       6.890         358   P           SFR             1     Y
 80.00   A3/6                   $190,229.02   48.31   FULL       9.950         358   P           TH              1     N
 80.00   A3/6                   $ 91,910.27   49.55   STD        9.560         358   P           SFR             1     N
 80.00   A2/6                   $150,217.12   48.72   STD        8.500         358   P           SFR             1     Y
 80.00   IOA2/6                 $164,000.00   38.95   FULL       6.990         358   P           SFR             1     N
 80.00   A2/6                   $156,526.81   46.60   STD        8.740         357   P           SFR             1     Y
 80.00   A2/6                   $307,655.17   49.42   STD        8.900         358   P           3F              1     N
 80.00   A3/6                   $131,778.23   44.25   FULL       6.890         358   P           SFR             1     Y
 80.00   A3/6                   $399,350.57   54.42   FULL       7.900         358   P           3F              1     Y
 80.00   A3/6 B30/40            $267,845.51   49.03   FULL       7.990         358   P           SFR             1     N
 80.00   A2/6                   $123,033.78   41.50   LIM        7.990         358   P           CO              1     N
 80.00   IOA3/6                 $184,000.00   48.79   STD        9.250         358   P           CO              1     N
 80.00   A2/6                   $339,626.40   47.34   STD        8.990         358   P           SFR             1     Y
 80.00   F30                    $131,080.93   43.78   STD        9.900         358   P           SFR             1     Y
 80.00   IOA3/6                 $504,000.00   43.87   STD        7.000         358   P           SFR             1     Y
 80.00   A3/6                   $255,197.34   49.14   STD        8.400         355   P           SFR             1     N
 80.00   A3/6                   $142,207.00   48.58   STD        9.940         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $205,400.43   48.52   STD        9.350         357   P           SFR             1     Y
 80.00   A2/6                   $227,649.31   50.59   STD        9.340         357   P           SFR             1     N
 80.00   A2/6                   $251,693.66   43.16   FULL      10.450         357   P           SFR             1     N
 80.00   A3/6                   $ 79,900.43   46.29   FULL      10.340         357   P           SFR             1     N
 80.00   A2/6                   $ 71,124.17   27.91   STD        9.140         358   P           2F              1     Y
 80.00   A3/6                   $108,698.71   46.88   STD        9.780         358   P           SFR             1     Y
 80.00   A3/6                   $ 87,871.84   45.40   FULL       9.600         357   P           SFR             1     N
 80.00   A3/6                   $117,462.50   15.19   FULL       8.690         358   P           SFR             1     N
 80.00   IOA3/6                 $ 86,499.20   40.59   STD        7.475         356   P           SFR             1     N
 80.00   A3/6 B30/40            $191,097.48   42.44   STD        8.240         358   P           SFR             1     Y
 80.00   IOA2/6                 $420,000.00   46.40   STD        7.165         358   P           SFR             1     Y
 80.00   IOA2/6                 $300,000.00   42.33   STD        7.965         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $271,746.43   36.38   LIM        7.740         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $438,116.51   49.21   STD        7.590         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $371,730.52   38.23   STD        7.190         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $164,691.89   30.59   STD        7.540         358   P           SFR             1     N
 80.00   A3/6 B30/40            $315,801.41   53.25   STD        7.690         358   P           SFR             1     Y
 80.00   IOA2/6                 $397,600.00   39.72   STD        7.025         357   P           SFR             1     Y
 80.00   IOA2/6                 $308,800.00   41.78   STD        7.200         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $201,355.70   45.57   STD        7.840         356   P           SFR             1     Y
 80.00   A3/6 B30/40            $179,820.29   22.04   STD        7.500         357   P           SFR             1     N
 80.00   IOA2/6                 $416,000.00   43.14   FULL       6.990         357   P           2F              1     Y
 80.00   IOA2/6                 $205,600.00   43.09   STD        8.115         358   P           SFR             1     Y
 80.00   IOA2/6                 $256,000.00   43.89   STD        7.865         358   P           CO              1     N
 80.00   A2/6 B30/40            $239,043.10   41.96   STD        7.540         358   P           SFR             1     Y
 80.00   IOA2/6                 $392,000.00   45.03   STD        8.625         358   P           SFR             1     Y
 80.00   A2/6                   $431,368.27   46.54   STD        7.590         358   P           3F              1     N
 80.00   IOA3/6                 $256,800.00   42.73   STD        8.115         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $303,811.67   46.37   FULL       7.740         358   P           SFR             1     Y
 80.00   F30                    $140,695.78   35.73   FULL      10.850         358   P           SFR             1     N
 80.00   IOA2/6                 $232,800.00   43.54   FULL       6.700         357   P           SFR             1     Y
 80.00   IOA2/6                 $280,000.00   51.77   FULL       7.190         356   P           CO              1     Y
 80.00   A2/6 B30/40            $191,863.97   41.23   STD        9.665         356   P           SFR             1     Y
 80.00   F30                    $174,965.04   42.55   FULL       9.990         357   P           SFR             1     N
 80.00   IOA2/6                 $399,900.00   42.92   STD        7.865         358   P           SFR             1     Y
 80.00   IOA2/6                 $164,800.00   45.33   STD        7.140         357   P           SFR             1     N
 80.00   F15                    $ 99,888.94   22.40   FULL       7.600         177   P           SFR             1     Y
 80.00   A3/6                   $303,648.92   49.76   STD        8.750         358   P           SFR             1     N
 80.00   F30                    $165,436.46   45.72   FULL       9.500         358   P           SFR             1     N
 80.00   A3/6                   $139,692.56   51.02   FULL       7.600         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $351,672.20   47.76   FULL       7.800         357   P           SFR             1     Y
 80.00   IOF30                  $508,000.00   45.51   FULL       7.000         357   P           SFR             1     Y
 80.00   A2/6                   $219,521.67   40.58   STD        7.650         357   P           SFR             1     N
 80.00   A2/6                   $257,055.06   28.53   STD        8.500         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $367,752.57   48.63   STD        7.450         358   P           SFR             1     N
 80.00   IOA2/6                 $300,000.00   49.48   STD        6.990         358   P           SFR             1     N
 80.00   A2/6                   $404,117.88   24.64   FULL       6.875         358   P           SFR             1     N
 80.00   A2/6 B30/40            $239,861.64   50.19   FULL       7.990         358   P           2F              1     N
 80.00   A2/6                   $239,692.87   41.43   STD        8.250         358   P           SFR             1     N
 80.00   IOA2/6                 $219,920.00   43.01   STD        7.250         357   P           SFR             1     N
 80.00   A3/6                   $146,946.71   46.57   STD        8.800         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $195,608.88   58.54   FULL       6.875         355   P           CO              1     N
 80.00   A2/6 B30/40            $467,661.93   49.52   STD        8.625         357   P           SFR             1     N
 80.00   A3/6                   $ 89,958.39   41.31   STD        7.990         356   P           SFR             1     Y
 80.00   A3/6                   $172,145.36   47.18   STD        7.540         358   P           SFR             1     Y
 80.00   A2/6                   $195,721.89   46.22   STD        7.740         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $177,901.22   45.27   STD        8.490         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $269,465.63   48.62   STD        8.490         358   P           2F              1     Y
 80.00   A2/6 B30/40            $197,472.22   47.01   STD        7.590         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $163,914.58   36.20   STD        8.340         358   P           SFR             1     Y
 80.00   A3/6                   $ 98,652.90   29.38   FULL       7.500         358   P           SFR             1     Y
 80.00   A3/6                   $138,221.08   30.69   STD        8.200         358   P           SFR             1     Y
 80.00   A3/6                   $207,783.52   47.84   STD        9.250         358   P           2F              1     Y
 80.00   A3/6                   $159,828.16   41.55   STD        9.100         358   P           SFR             1     Y
 80.00   A3/6                   $119,862.84   41.82   STD        8.800         358   P           SFR             1     Y
 80.00   A3/6                   $143,821.28   44.63   STD        8.400         358   P           SFR             1     N
 80.00   A3/6                   $291,614.74   49.73   STD        8.100         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $123,929.24   45.25   FULL       8.025         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $215,886.19   46.48   STD        8.300         358   P           SFR             1     N
 80.00   A3/6 B30/40            $131,943.23   45.99   STD        8.990         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $131,930.24   49.22   STD        8.290         358   P           SFR             1     N
 80.00   A3/6 B30/40            $259,698.11   43.52   STD        9.300         358   P           TH              1     Y
 80.00   A3/6 B30/40            $175,374.54   49.49   STD        8.990         358   P           SFR             1     Y
 80.00   IOA2/6                 $224,000.00   45.22   STD        8.615         358   P           SFR             1     Y
 80.00   IOA2/6                 $272,000.00   47.48   FULL       7.590         358   P           SFR             1     Y
 80.00   IOA2/6                 $136,000.00   44.25   STD        9.315         358   P           SFR             1     Y
 80.00   IOA2/6                 $367,200.00   47.89   LIM        8.915         358   P           SFR             1     Y
 80.00   A2/6                   $327,552.98   16.68   LIM        7.940         358   P           SFR             1     Y
 80.00   A2/6                   $241,223.78   31.53   STD        7.275         358   P           SFR             1     Y
 80.00   A2/6                   $ 94,264.70   36.60   STD        7.690         358   P           SFR             1     N
 80.00   A2/6                   $118,631.42   40.32   FULL       7.740         358   P           SFR             1     Y
 80.00   A2/6                   $131,811.18   40.89   STD        7.700         358   P           SFR             1     Y
 80.00   A2/6                   $ 79,922.63   39.56   STD        9.600         358   P           SFR             1     Y
 80.00   A2/6                   $256,065.13   41.70   STD        8.150         358   P           SFR             1     Y
 80.00   A2/6                   $102,293.19   41.02   STD        9.240         358   P           SFR             1     Y
 80.00   A2/6                   $144,604.65   48.12   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6                   $ 76,717.53   46.55   STD        9.100         358   P           SFR             1     Y
 80.00   A2/6                   $187,731.92   50.05   STD        9.700         357   P           SFR             1     Y
 80.00   A2/6                   $230,039.45   50.60   FULL       7.250         358   P           SFR             1     Y
 80.00   A2/6                   $329,971.98   47.55   STD        8.190         358   P           SFR             1     Y
 80.00   A2/6                   $259,708.32   48.50   STD        8.890         358   P           SFR             1     Y
 80.00   A2/6                   $223,617.70   48.78   STD        8.840         357   P           SFR             1     Y
 80.00   A2/6                   $186,193.46   49.23   STD        8.950         358   P           SFR             1     Y
 80.00   A2/6                   $167,811.52   48.92   STD        8.890         358   P           SFR             1     Y
 80.00   A2/6                   $131,845.98   49.53   STD        8.700         358   P           SFR             1     Y
 80.00   A2/6                   $210,187.33   50.14   STD        9.390         358   P           SFR             1     Y
 80.00   A2/6                   $147,772.50   53.79   STD        7.340         358   P           SFR             1     Y
 80.00   A2/6                   $238,867.34   43.20   STD        7.840         358   P           SFR             1     Y
 80.00   A2/6                   $201,319.63   45.57   STD        7.840         358   P           SFR             1     Y
 80.00   A2/6                   $230,079.58   46.40   STD        7.840         358   P           SFR             1     Y
 80.00   A2/6                   $140,615.74   48.78   STD        8.140         358   P           SFR             1     Y
 80.00   A2/6                   $455,409.27   45.73   STD        8.190         358   P           2F              1     Y
 80.00   A2/6                   $225,622.53   50.69   FULL       6.920         358   P           SFR             1     Y
 80.00   A2/6                   $123,793.71   37.39   FULL       6.940         358   P           SFR             1     Y
 80.00   IOA2/6                 $161,600.00   31.38   STD        8.050         358   P           SFR             1     Y
 80.00   IOA2/6                 $352,000.00   34.79   STD        7.250         358   P           SFR             1     Y
 80.00   IOA2/6                 $204,000.00   40.74   STD        7.650         358   P           SFR             1     Y
 80.00   IOA2/6                 $280,000.00   41.83   FULL       7.390         358   P           3F              1     Y
 80.00   IOA2/6                 $188,000.00   35.32   FULL       7.350         358   P           SFR             1     Y
 80.00   IOA2/6                 $133,600.00   43.60   STD        8.465         358   P           SFR             1     Y
 80.00   IOA2/6                 $212,800.00   44.01   STD        7.265         358   P           SFR             1     Y
 80.00   IOA2/6                 $176,000.00   44.41   STD        9.250         358   P           SFR             1     Y
 80.00   IOA2/6                 $239,200.00   45.62   LIM        7.250         357   P           SFR             1     Y
 80.00   IOA2/6                 $260,000.00   48.22   STD        8.200         358   P           TH              1     N
 80.00   IOA2/6                 $213,600.00   48.96   STD        7.500         358   P           SFR             1     N
 80.00   IOA2/6                 $173,600.00   50.20   STD        8.390         358   P           SFR             1     Y
 80.00   IOA2/6                 $384,000.00   44.49   STD        7.865         358   P           TH              1     Y
 80.00   IOA2/6                 $247,200.00   37.83   FULL       7.000         358   P           SFR             1     Y
 80.00   IOA2/6                 $210,400.00   36.80   STD        8.250         358   P           SFR             1     Y
 80.00   IOA2/6                 $269,600.00   37.46   FULL       7.690         358   P           SFR             1     Y
 80.00   IOA2/6                 $488,800.00   41.32   LIM        7.240         358   P           SFR             1     Y
 80.00   IOA2/6                 $236,000.00   43.90   FULL       6.990         358   P           SFR             1     Y
 80.00   IOA2/6                 $343,200.00   46.68   STD        8.840         358   P           CO              1     Y
 80.00   IOA2/6                 $336,000.00   45.83   STD        7.340         358   P           SFR             1     Y
 80.00   IOA2/6                 $226,400.00   48.62   STD        8.115         358   P           SFR             1     N
 80.00   IOA2/6                 $364,000.00   48.87   STD        8.250         358   P           SFR             1     Y
 80.00   IOA2/6                 $656,000.00   49.58   STD        7.600         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $131,898.85   30.07   LIM        6.990         358   P           2F              1     Y
 80.00   A2/6 B30/40            $133,934.17   33.95   STD        8.540         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $142,733.86   38.92   STD        8.740         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $156,703.14   40.75   STD        7.750         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $135,921.61   40.81   FULL       7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $327,730.48   43.00   STD        6.740         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $187,090.52   41.47   STD        7.940         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $155,888.89   45.19   STD        7.250         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $199,895.84   38.38   STD        8.340         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $215,854.23   44.62   STD        7.440         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $162,275.54   40.84   FULL       6.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $307,863.55   45.55   STD        8.890         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $251,528.32   47.50   FULL       6.490         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $205,510.51   42.84   STD        8.950         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $327,787.89   45.55   STD        7.590         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $174,298.00   47.78   STD        7.940         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $319,787.68   46.73   LIM        7.500         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $319,798.89   46.35   STD        7.690         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $211,839.80   46.82   FULL       7.040         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $223,863.60   46.70   STD        7.800         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $280,070.23   54.97   STD        8.740         358   P           2F              1     Y
 80.00   A2/6 B30/40            $181,490.69   48.20   STD        7.840         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $189,464.95   48.86   STD        7.250         358   P           CO              1     N
 80.00   A2/6 B30/40            $587,597.48   46.56   STD        7.390         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $227,868.56   49.25   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $159,896.38   49.81   STD        8.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $322,150.15   48.96   STD        6.950         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $199,851.39   49.33   FULL       7.100         358   P           TH              1     Y
 80.00   A2/6 B30/40            $171,883.92   49.63   STD        7.440         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $223,837.72   49.20   STD        7.190         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $295,855.67   51.60   STD        8.565         358   P           CO              1     Y
 80.00   A2/6 B30/40            $299,811.48   20.95   STD        7.690         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $215,840.45   31.38   STD        7.121         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $447,756.27   35.06   STD        8.190         358   P           TH              1     Y
 80.00   A2/6 B30/40            $284,633.42   45.31   STD        7.940         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $290,230.16   40.99   STD        7.940         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $292,623.75   43.73   STD        7.840         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $299,822.00   44.27   STD        7.890         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $436,446.04   47.09   FULL       6.790         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $179,888.48   46.20   FULL       7.740         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $422,893.43   46.11   STD        7.190         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $411,762.50   46.45   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $384,613.75   46.86   STD        8.590         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $431,728.51   51.27   STD        7.690         358   P           2F              1     Y
 80.00   A2/6 B30/40            $243,861.36   51.15   STD        8.040         358   P           CO              1     Y
 80.00   A2/6 B30/40            $595,536.84   48.73   FULL       6.940         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $399,769.40   50.82   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $194,257.18   48.67   FULL       7.140         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $203,880.69   50.98   STD        7.940         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $254,263.59   48.30   STD        8.240         358   P           SFR             1     Y
 80.00   A3/6                   $171,755.94   33.38   STD        7.740         358   P           SFR             1     Y
 80.00   A3/6                   $222,165.59   41.03   STD        9.190         358   P           SFR             1     Y
 80.00   A3/6                   $121,445.17   41.33   STD        8.275         358   P           SFR             1     Y
 80.00   A3/6                   $211,708.72   48.55   STD        7.900         358   P           SFR             1     Y
 80.00   A3/6                   $178,175.86   48.95   STD        8.340         358   P           SFR             1     Y
 80.00   A3/6                   $239,700.92   51.13   LIM        8.380         358   P           SFR             1     Y
 80.00   A3/6                   $134,199.90   49.45   STD        7.500         358   P           SFR             1     N
 80.00   IOA3/6                 $128,000.00   38.55   STD        7.750         358   P           SFR             1     Y
 80.00   IOA3/6                 $180,000.00   41.95   FULL       7.350         358   P           SFR             1     Y
 80.00   IOA3/6                 $252,000.00   44.00   FULL       7.350         358   P           SFR             1     Y
 80.00   IOA3/6                 $304,000.00   45.05   STD        7.465         358   P           SFR             1     Y
 80.00   IOA3/6                 $160,000.00   50.26   STD        8.150         358   P           SFR             1     Y
 80.00   IOA3/6                 $440,000.00   42.42   STD        7.865         358   P           SFR             1     Y
 80.00   IOA3/6                 $220,000.00   47.43   STD        8.515         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $174,282.30   40.61   FULL       7.440         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $183,917.27   44.43   STD        8.840         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $355,735.49   47.11   STD        7.100         358   P           2F              1     Y
 80.00   A3/6 B30/40            $184,680.50   47.10   FULL       7.590         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $231,804.01   52.58   FULL       6.640         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $223,837.78   50.30   STD        8.290         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $275,056.68   42.17   STD        8.340         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $167,890.90   48.68   FULL       7.575         358   P           SFR             1     Y
 80.00   A3/6                   $ 91,893.53   44.69   FULL       8.740         358   I           SFR             1     Y
 80.00   A3/6                   $268,482.44   50.17   STD        8.640         358   P           SFR             1     N
 80.00   A2/6                   $342,088.60   47.74   FULL       9.890         358   P           SFR             1     N
 80.00   A3/6                   $ 65,554.91   32.04   FULL      11.190         358   P           SFR             1     N
 80.00   A3/6                   $ 59,951.59   25.01   FULL      10.450         358   P           SFR             1     N
 80.00   A3/6                   $169,423.10   30.29   FULL       9.240         358   P           CO              1     N
 80.00   A3/6                   $131,847.57   37.08   FULL       8.750         358   P           SFR             1     N
 80.00   A3/6                   $123,083.11   39.08   FULL       9.690         358   P           SFR             1     N
 80.00   A3/6                   $181,450.28   50.39   FULL      10.350         358   P           SFR             1     N
 80.00   A3/6                   $ 95,907.17   54.57   FULL       9.600         358   P           SFR             1     N
 80.00   A2/6 B30/40            $459,540.75   46.89   FULL       7.500         357   P           SFR             1     N
 80.00   A2/6                   $276,391.15   41.47   STD        7.540         358   I           4F              1     N
 80.00   A2/6                   $218,221.87   49.30   STD       10.400         358   P           SFR             1     N
 80.00   A2/6                   $200,605.40   49.92   STD        9.590         358   P           SFR             1     N
 80.00   A2/6                   $135,837.67   47.77   STD        8.590         358   P           SFR             1     N
 80.00   IOA2/6                 $264,000.00   45.60   STD        7.690         358   P           TH              1     Y
 80.00   IOA2/6                 $294,400.00   48.79   STD        7.190         358   P           2F              1     N
 80.00   A2/6 B30/40            $387,973.85   38.63   STD        8.575         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $331,738.36   49.40   STD        6.890         358   P           SFR             1     N
 80.00   A2/6 B30/40            $207,860.01   50.38   FULL       7.450         358   P           SFR             1     N
 80.00   A2/6 B30/40            $267,816.54   40.61   FULL       7.390         358   P           SFR             1     N
 80.00   A3/6                   $239,588.80   40.51   FULL       6.790         358   P           SFR             1     N
 80.00   A3/6                   $235,733.04   45.86   STD        8.850         358   P           SFR             1     N
 80.00   IOA3/6                 $216,000.00   43.97   STD        8.425         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $159,759.19   35.51   FULL       6.700         357   P           SFR             1     N
 80.00   A2/6                   $106,277.12   54.80   FULL       8.750         358   P           TH              1     N
 80.00   A2/6 B30/40            $263,903.66   36.42   STD        9.540         358   P           SFR             1     N
 80.00   A3/6                   $103,098.08   22.87   FULL       9.500         358   P           CO              1     N
 80.00   A3/6                   $131,874.76   42.09   FULL       9.690         358   P           SFR             1     N
 80.00   A3/6 B30/40            $247,809.95   33.20   STD        6.990         358   P           2F              1     N
 80.00   A2/6                   $208,810.30   40.65   STD        8.990         358   I           SFR             1     N
 80.00   A2/6                   $142,431.95   54.42   STD        8.500         352   P           SFR             1     N
 80.00   A3/6 B30/40            $194,105.42   50.27   STD        7.850         355   P           CO              1     Y
 80.00   IOA2/6                 $214,400.00   35.26   FULL       7.350         353   P           SFR             1     Y
 80.00   IOA5/6                 $320,000.00    0.00   STD        8.000         357   P           SFR             1     N
 80.00   F30                    $ 91,851.83   38.95   FULL      10.500         356   P           SFR             1     N
 80.00   A3/6 B30/40            $319,567.90   49.94   FULL       8.250         355   P           SFR             1     N
 80.00   A3/6 B30/40            $255,827.22   49.52   STD        8.850         357   P           SFR             1     N
 80.00   IOA2/6                 $230,400.00   48.61   FULL       8.350         356   P           SFR             1     Y
 80.00   IOA2/6                 $408,000.00   49.98   LIM        7.300         353   P           SFR             1     Y
 80.00   A2/6                   $200,615.81    0.00   STD        9.850         358   P           SFR             1     Y
 80.00   A2/6                   $303,641.58    0.00   STD        8.650         358   P           SFR             1     N
 80.00   A2/6                   $ 69,517.93   28.64   FULL       8.650         358   P           SFR             1     N
 80.00   A2/6                   $ 85,879.02   48.98   FULL       9.725         358   P           SFR             1     Y
 80.00   A2/6                   $ 92,297.62   28.15   FULL       8.950         358   P           CO              1     Y
 80.00   A2/6                   $119,877.04   41.45   STD        9.325         358   P           SFR             1     Y
 80.00   A5/6                   $155,742.99   46.30   FULL       6.990         358   P           SFR             1     Y
 80.00   A2/6                   $ 31,973.32   17.80   FULL      10.300         358   P           SFR             1     N
 80.00   A2/6                   $ 47,967.07   40.84   STD       11.200         358   I           SFR             1     N
 80.00   B30/40                 $129,111.80   30.59   FULL       7.400         358   P           SFR             1     Y
 80.00   A2/6                   $411,588.79    0.00   STD        9.450         358   P           SFR             1     N
 80.00   A2/6                   $151,673.87   46.11   FULL       7.075         358   P           SFR             1     Y
 80.00   A2/6                   $111,857.40   42.38   FULL       8.275         358   P           SFR             1     Y
 80.00   A2/6                   $127,796.29   46.11   FULL       9.600         358   P           SFR             1     N
 80.00   A2/6                   $193,223.42   48.28   FULL       8.900         358   P           SFR             1     Y
 80.00   A2/6                   $100,289.89   35.49   FULL       9.000         358   P           SFR             1     Y
 80.00   A2/6                   $131,873.01   43.75   FULL       9.625         358   P           PUD             1     Y
 80.00   IOA2/6                 $551,200.00   49.72   STD        9.200         358   P           SFR             1     Y
 80.00   A2/6                   $ 75,148.69   22.45   FULL      11.225         358   P           SFR             1     N
 80.00   IOA2/6                 $219,200.00   50.46   FULL       7.950         358   P           SFR             1     N
 80.00   A2/6                   $182,224.52   36.07   STD        9.625         358   P           SFR             1     N
 80.00   A2/6                   $121,438.73    0.00   STD        8.075         358   P           PUD             1     Y
 80.00   A2/6                   $ 71,836.93   46.31   FULL       8.750         358   P           SFR             1     Y
 80.00   A2/6                   $108,580.86   48.70   FULL       8.250         358   P           SFR             1     Y
 80.00   F30                    $118,082.40   36.65   FULL       8.050         358   P           SFR             1     Y
 80.00   A2/6                   $137,425.69   38.15   FULL       8.300         358   P           SFR             1     Y
 80.00   A2/6                   $ 76,617.72   46.85   FULL       8.050         358   P           SFR             1     Y
 80.00   IOA2/6                 $ 80,800.00   48.46   FULL       7.750         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $239,864.99   30.97   FULL       8.075         358   P           SFR             1     Y
 80.00   IOA2/6                 $368,000.00   48.43   STD        9.925         358   P           SFR             1     Y
 80.00   A2/6                   $102,183.62   49.17   FULL       8.050         358   P           SFR             1     Y
 80.00   B30/40                 $187,907.24   48.05   STD        8.525         358   P           SFR             1     Y
 80.00   A2/6                   $256,487.76   41.27   FULL       8.500         358   P           SFR             1     N
 80.00   IOA2/6                 $157,360.00   20.61   LIM        8.750         358   P           SFR             1     Y
 80.00   F30                    $ 99,861.20   33.75   FULL       7.850         358   P           SFR             1     N
 80.00   F30                    $ 61,552.64   39.20   FULL      10.675         358   P           SFR             1     N
 80.00   A2/6                   $262,059.02   42.21   FULL       8.175         358   P           SFR             1     Y
 80.00   F30                    $227,667.23   45.75   FULL       7.600         358   P           SFR             1     N
 80.00   F30                    $187,729.71   22.52   FULL       7.675         358   I           SFR             1     N
 80.00   A2/6                   $200,248.47    8.75   STD        8.750         358   P           SFR             1     Y
 80.00   A2/6                   $ 91,897.52   48.14   FULL       8.925         358   P           SFR             1     Y
 80.00   A2/6                   $129,364.19   41.04   FULL       7.400         358   P           SFR             1     Y
 80.00   IOA2/6                 $193,433.00   44.30   FULL       8.325         358   P           SFR             1     Y
 80.00   A2/6                   $231,674.75   26.02   STD        7.800         358   P           SFR             1     Y
 80.00   A2/6                   $111,790.07    0.00   STD        8.725         358   P           SFR             1     Y
 80.00   A2/6                   $158,235.13   23.92   FULL       9.250         358   P           SFR             1     N
 80.00   A2/6                   $ 87,905.49   40.30   FULL       9.100         358   P           SFR             1     Y
 80.00   F30                    $103,892.31   13.29   FULL       9.275         358   P           SFR             1     N
 80.00   A2/6                   $ 95,900.08    0.00   STD        9.250         358   P           SFR             1     Y
 80.00   A2/6                   $ 73,514.98   41.68   FULL       8.750         358   P           SFR             1     Y
 80.00   A2/6                   $ 99,901.22   46.23   STD        9.500         358   P           SFR             1     Y
 80.00   IOA2/6                 $163,200.00   44.60   FULL       8.350         358   P           PUD             1     Y
 80.00   A2/6                   $615,292.26   45.20   STD        8.775         358   S           CO              1     Y
 80.00   A2/6                   $113,442.88   43.38   FULL       8.125         358   S           SFR             1     N
 80.00   A2/6                   $109,841.80   27.93   FULL       9.660         357   P           SFR             1     N
 80.00   A2/6                   $ 66,307.29   43.77   FULL       9.800         357   P           SFR             1     N
 80.00   A2/6                   $203,710.60   44.81   FULL       9.725         357   P           SFR             1     N
 80.00   IOA2/6                 $368,000.00   45.24   FULL       7.650         357   P           SFR             1     Y
 80.00   A2/6                   $115,684.14   46.32   FULL       7.375         357   P           SFR             1     Y
 80.00   IOA2/6                 $360,000.00   27.51   FULL       8.325         357   P           SFR             1     Y
 80.00   A2/6                   $ 39,955.37   17.88   FULL      10.850         357   I           SFR             1     N
 80.00   F30                    $100,904.73   48.92   FULL       8.875         357   P           SFR             1     Y
 80.00   A2/6                   $318,805.68   49.17   STD       10.375         357   I           CO              1     N
 80.00   A2/6                   $171,748.54   44.83   FULL      10.950         356   P           SFR             1     N
 80.00   A2/6                   $ 97,369.53   45.97   STD        9.325         357   P           2F              1     Y
 80.00   IOA2/6                 $146,400.00   45.44   FULL       8.200         356   P           SFR             1     Y
 80.00   F30                    $156,309.95   41.87   FULL       7.288         356   P           SFR             1     Y
 80.00   F30                    $ 50,292.48   48.85   FULL      10.250         355   I           SFR             1     N
 80.00   A2/6                   $110,233.97   47.65   FULL       7.450         358   P           SFR             1     N
 80.00   A2/6                   $339,789.75   48.05   STD        8.400         359   P           SFR             1     Y
 80.00   A2/6                   $315,687.90   44.59   STD        9.500         358   S           PUD             1     N
 80.00   A2/6                   $123,931.56   41.48   FULL       8.950         359   P           SFR             1     N
 80.00   A2/6 B30/40            $284,718.18   45.33   STD        7.990         359   P           SFR             1     N
 80.00   A2/6                   $194,321.91   43.29   STD       10.450         359   P           SFR             1     N
 80.00   A2/6                   $246,265.13   44.47   STD        8.990         359   P           SFR             1     N
 80.00   A5/6                   $194,412.53   34.88   STD        7.900         358   I           SFR             1     N
 80.00   A2/6 B30/40            $179,351.21   34.41   STD       11.200         357   P           3F              1     N
 80.00   A2/6                   $ 84,684.66   54.06   FULL       7.950         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $451,862.83   41.29   STD        7.800         359   P           2F              1     Y
 80.00   IOA2/6                 $220,000.00   39.85   STD        7.775         358   P           SFR             1     Y
 80.00   IOA2/6                 $246,400.00   38.43   STD        7.950         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $723,539.76   29.87   STD        7.650         358   P           CO              1     Y
 80.00   IOA2/6                 $175,920.00   36.83   FULL       6.975         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $151,826.81   49.96   STD        7.775         358   S           SFR             1     Y
 80.00   A2/6                   $359,640.79   28.68   STD        8.375         358   S           PUD             1     Y
 80.00   IOA2/6                 $352,000.00   47.45   FULL       7.025         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $159,896.07   42.70   FULL       7.575         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $283,828.30   45.59   STD        7.825         358   P           CO              1     Y
 80.00   A2/6                   $263,737.85   49.07   STD        8.575         358   S           PUD             1     Y
 80.00   A2/6                   $ 79,890.65   38.10   FULL       7.925         358   P           SFR             1     Y
 80.00   A2/6                   $259,701.27   40.93   STD        8.775         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $699,609.11   43.28   STD        8.100         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $ 83,977.78   47.18   FULL       8.275         359   P           SFR             1     Y
 80.00   A2/6                   $311,678.64   44.20   STD        9.300         358   P           SFR             1     N
 80.00   A2/6 B30/40            $439,743.39   48.81   FULL       7.950         358   P           PUD             1     Y
 80.00   A2/6                   $119,834.78   49.27   STD        7.890         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $198,376.20   46.25   STD       10.900         359   P           SFR             1     N
 80.00   A2/6                   $239,847.11   42.97   FULL       6.925         358   P           PUD             1     Y
 80.00   A2/6                   $363,622.74   43.91   STD        8.775         358   P           CO              1     Y
 80.00   A2/6 B30/40            $315,531.33   47.21   STD        7.925         355   P           SFR             1     Y
 80.00   IOA2/6                 $322,320.00   36.42   FULL       7.225         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $575,644.17   51.83   FULL       7.750         358   P           SFR             1     Y
 80.00   A2/6                   $392,209.28   33.79   LIM        7.450         358   P           SFR             1     Y
 80.00   IOA2/6                 $616,920.00   47.80   STD        7.435         358   P           SFR             1     Y
 80.00   IOA2/6                 $239,436.00   30.77   FULL       6.500         358   P           SFR             1     Y
 80.00   A2/6                   $ 94,161.82   27.22   STD        8.375         356   P           SFR             1     Y
 80.00   IOA2/6                 $546,080.00   42.54   FULL       6.800         355   P           CO              1     Y
 80.00   A2/6                   $197,877.56   51.92   FULL       8.400         359   P           SFR             1     N
 80.00   A2/6                   $219,798.20   34.06   STD        9.850         358   P           SFR             1     N
 80.00   A3/6 B30/40            $318,248.56   47.80   STD        8.650         358   P           CO              1     N
 80.00   A2/6                   $264,041.93   50.73   STD        8.675         358   S           PUD             1     Y
 80.00   A2/6                   $202,243.14   43.35   STD        7.925         358   S           PUD             1     Y
 80.00   IOA2/6                 $380,000.00   33.60   STD        6.650         358   P           SFR             1     N
 80.00   A2/6 B30/40            $197,941.73   30.17   FULL      10.250         358   P           SFR             1     N
 80.00   IOA2/6                 $396,000.00   49.36   STD        7.675         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $595,581.44   44.69   FULL       7.300         358   P           SFR             1     Y
 80.00   IOA2/6                 $170,400.00   48.53   FULL       7.325         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $271,827.09   40.35   STD        7.650         358   P           SFR             1     N
 80.00   A2/6 B30/40            $291,874.40   36.93   STD        8.990         358   P           SFR             1     N
 80.00   A2/6 B30/40            $ 60,769.77   30.59   STD        8.500         358   P           CO              1     Y
 80.00   A3/6 B30/40            $ 99,967.74   29.23   STD        9.950         358   I           SFR             1     N
 80.00   A2/6                   $319,485.22   37.48   STD        9.125         357   P           SFR             1     Y
 80.00   IOA2/6                 $244,000.00   48.64   FULL       6.925         357   P           2F              1     Y
 80.00   A2/6 B30/40            $495,852.31   49.98   STD        7.866         359   P           SFR             1     Y
 80.00   A2/6                   $127,821.43   31.06   FULL       7.825         358   P           SFR             1     N
 80.00   IOA2/6                 $447,120.00   43.41   STD        7.375         358   P           SFR             1     Y
 80.00   IOA2/6                 $ 85,600.00   41.57   FULL       7.575         358   P           SFR             1     Y
 80.00   A2/6                   $121,428.83   36.80   FULL       7.780         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $534,787.72   45.48   FULL       8.400         357   S           2F              1     Y
 80.00   A2/6                   $ 64,464.59   14.47   STD       10.900         356   P           SFR             1     N
 80.00   A2/6 B30/40            $260,303.54   49.19   FULL       7.100         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $743,275.94   54.35   FULL       6.125         358   P           SFR             1     Y
 80.00   A2/6                   $235,604.27   28.07   FULL       6.900         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $311,814.07   53.71   STD        7.875         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $228,563.86   41.36   FULL       7.400         358   P           SFR             1     Y
 80.00   A2/6                   $100,702.51   49.00   STD        9.600         358   P           SFR             1     Y
 80.00   A2/6                   $263,624.25   34.65   STD        7.725         358   P           SFR             1     Y
 80.00   A2/6                   $598,492.94   48.46   STD        9.475         355   S           SFR             1     N
 80.00   A2/6                   $ 75,095.09   34.32   FULL       7.825         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $379,779.98   38.03   FULL       7.975         358   P           SFR             1     N
 80.00   A2/6 B30/40            $335,720.80   30.50   FULL       6.700         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $224,708.15   32.48   FULL       6.750         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $175,896.84   21.14   STD        9.325         358   I           CO              1     N
 80.00   A2/6 B30/40            $391,773.02   36.81   STD        7.975         358   P           SFR             1     Y
 80.00   IOA2/6                 $153,600.00   46.74   FULL       8.000         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $175,924.28   39.56   FULL       8.990         358   P           SFR             1     N
 80.00   IOA2/6                 $185,592.47   37.76   FULL       7.775         356   P           SFR             1     Y
 80.00   IOA2/6                 $290,400.00   36.02   STD        8.350         358   P           2F              1     N
 80.00   IOA3/6                 $228,000.00   42.37   FULL       7.475         358   P           SFR             1     Y
 80.00   A2/6                   $159,855.55   48.54   STD        9.925         358   S           CO              1     Y
 80.00   A2/6                   $471,020.20   41.13   STD        8.300         357   P           SFR             1     Y
 80.00   A2/6                   $152,663.94   39.13   FULL       9.990         358   I           2F              1     N
 80.00   A2/6                   $ 63,111.83   48.87   FULL       7.825         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $154,355.43   39.62   FULL      10.313         358   P           SFR             1     N
 80.00   A2/6                   $131,843.56   43.14   STD        8.625         358   P           SFR             1     Y
 80.00   A2/6                   $115,856.02   38.15   FULL       8.400         358   P           SFR             1     Y
 80.00   A2/6                   $111,936.88   51.14   LIM        8.850         359   P           SFR             1     N
 80.00   A2/6                   $203,751.94   42.02   STD        8.500         358   S           SFR             1     Y
 80.00   A2/6 B30/40            $579,754.93   44.60   STD        9.050         358   P           SFR             1     N
 80.00   A2/6                   $ 59,913.72   47.39   FULL       7.675         358   P           SFR             1     Y
 80.00   A2/6                   $275,561.61   41.15   STD        7.175         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $219,844.39   49.78   STD        7.275         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $335,882.79   46.21   FULL       9.690         358   P           PUD             1     N
 80.00   IOA2/6                 $478,000.00   44.22   FULL       7.125         354   P           SFR             1     Y
 80.00   A2/6 B30/40            $667,677.62   45.17   STD        8.600         358   P           PUD             1     N
 80.00   IOA2/6                 $280,000.00   42.79   STD        8.125         358   P           SFR             1     Y
 80.00   A2/6                   $ 65,894.12   36.50   FULL       7.125         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $187,953.10   19.56   STD        8.475         359   P           SFR             1     Y
 80.00   A2/6                   $ 95,920.92   48.33   FULL       6.975         359   P           SFR             1     Y
 80.00   IOA2/6                 $337,440.00   27.78   STD        9.175         358   S           CO              1     Y
 80.00   IOA2/6                 $377,788.00   38.61   STD        8.425         358   P           PUD             1     Y
 80.00   IOA2/6                 $251,199.99   42.29   FULL       7.075         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $263,060.31   45.21   STD        8.275         358   P           SFR             1     Y
 80.00   IOA2/6                 $412,000.00   49.10   STD        8.375         358   P           SFR             1     Y
 80.00   A2/6                   $307,572.51   39.90   STD        7.850         358   S           SFR             1     Y
 80.00   IOA2/6                 $238,618.00   48.01   STD        8.025         358   P           PUD             1     Y
 80.00   A2/6                   $199,248.92   51.61   FULL       8.450         358   P           PUD             1     Y
 80.00   IOA3/6                 $132,000.00   48.41   FULL       7.475         358   S           SFR             1     Y
 80.00   IOA2/6                 $ 76,800.00   51.78   FULL       7.350         358   P           SFR             1     Y
 80.00   A2/6                   $ 70,736.96   21.50   FULL       9.250         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $105,830.22   30.15   FULL       7.525         358   S           PUD             1     Y
 80.00   A2/6                   $119,850.97   45.07   FULL      10.350         357   P           SFR             1     N
 80.00   A2/6 B30/40            $138,365.98   42.64   FULL       8.525         359   P           SFR             1     Y
 80.00   A2/6                   $207,732.19   42.08   FULL       8.220         358   P           CO              1     Y
 80.00   A2/6                   $ 91,892.08   33.17   STD        8.675         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $218,264.12   37.16   STD        7.725         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $140,753.39   41.07   STD        9.863         358   P           SFR             1     N
 80.00   A2/6 B30/40            $147,140.62   40.88   STD        9.438         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $ 73,587.09   48.33   FULL       7.775         353   P           CO              1     Y
 80.00   IOA2/6                 $289,600.00   47.50   FULL       6.675         358   P           SFR             1     Y
 80.00   A2/6                   $ 71,899.57   25.18   STD        7.825         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $254,213.63   36.92   STD        7.150         358   P           SFR             1     N
 80.00   IOA2/6                 $238,400.00   53.09   STD        7.775         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $743,439.32   36.62   STD        8.475         357   P           SFR             1     N
 80.00   IOA2/6                 $356,000.00   43.41   FULL       6.575         358   P           SFR             1     Y
 80.00   IOA2/6                 $225,600.00   49.33   FULL       6.900         358   P           PUD             1     Y
 80.00   IOA2/6                 $328,308.80   47.77   FULL       6.975         355   P           CO              1     N
 80.00   A2/6                   $180,898.64   40.86   STD        8.475         358   P           2F              1     Y
 80.00   IOA2/6                 $447,960.00   45.67   FULL       7.960         358   P           SFR             1     Y
 80.00   A2/6                   $ 69,274.35   35.95   FULL       8.425         358   P           SFR             1     Y
 80.00   A2/6                   $130,477.99   43.79   STD        8.475         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $214,331.71   34.31   STD        9.991         358   I           SFR             1     N
 80.00   A2/6                   $176,089.95   44.19   STD        7.925         358   P           PUD             1     Y
 80.00   IOA2/6                 $216,000.00   48.67   FULL       6.975         355   P           PUD             1     Y
 80.00   IOA2/6                 $240,000.00   45.59   FULL       7.675         358   S           SFR             1     Y
 80.00   A3/6 B30/40            $179,067.79   44.65   FULL       7.125         358   P           SFR             1     Y
 80.00   IOA3/6                 $518,000.00   47.63   STD        8.500         358   P           SFR             1     Y
 80.00   IOA2/6                 $192,000.00   41.46   FULL       6.625         358   P           SFR             1     Y
 80.00   A2/6                   $ 59,911.10   45.13   STD        7.525         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $719,487.18   29.16   FULL       7.250         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $195,008.94   40.18   STD        9.025         358   P           PUD             1     Y
 80.00   A2/6                   $110,604.75   39.73   STD        9.250         358   P           2F              1     N
 80.00   A2/6                   $282,080.53   48.90   STD        8.850         358   P           SFR             1     N
 80.00   A2/6                   $159,870.89   26.48   STD       10.450         358   P           CO              1     N
 80.00   A2/6                   $119,837.60   41.48   STD        7.975         358   P           CO              1     Y
 80.00   IOA2/6                 $300,000.00   48.79   FULL       6.750         357   P           2F              1     Y
 80.00   A2/6                   $ 50,340.57   39.41   FULL       8.650         358   P           SFR             1     Y
 80.00   IOA2/6                 $176,000.00   36.12   STD        9.175         358   S           SFR             1     Y
 80.00   IOA2/6                 $368,000.00   35.40   FULL       6.425         359   P           SFR             1     Y
 80.00   A2/6                   $111,862.41   31.35   FULL       8.450         358   P           SFR             1     Y
 80.00   IOA3/6                 $396,000.00   41.02   STD        7.550         358   P           CO              1     N
 80.00   A2/6                   $ 91,898.38   36.30   FULL       8.965         358   P           SFR             1     N
 80.00   A2/6 B30/40            $399,765.04   47.37   STD        7.925         358   P           SFR             1     Y
 80.00   IOA2/6                 $352,000.00   42.76   STD        6.425         358   P           SFR             1     Y
 80.00   IOA2/6                 $285,600.00   42.78   STD        8.125         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $151,905.42   41.62   STD        7.725         358   P           SFR             1     Y
 80.00   A2/6                   $365,458.30   37.63   STD        8.950         357   P           PUD             1     Y
 80.00   A2/6 B30/40            $451,722.77   47.29   STD        7.775         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $ 79,965.58   46.34   FULL       8.990         358   P           SFR             1     Y
 80.00   IOA2/6                 $224,000.00   46.10   FULL       7.525         358   P           CO              1     Y
 80.00   A2/6 B30/40            $312,584.45   43.92   STD        7.500         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $311,756.50   56.23   FULL       6.925         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $499,859.87   47.99   STD       10.410         358   I           SFR             1     N
 80.00   A2/6                   $534,475.72   36.24   STD        7.975         358   P           PUD             1     Y
 80.00   A2/6                   $143,799.13   46.30   STD        7.825         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $283,812.91   38.41   STD        7.525         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $323,813.22   37.94   STD        7.990         358   P           CO              1     N
 80.00   A2/6                   $155,836.78   41.92   STD        9.225         358   S           SFR             1     Y
 80.00   A2/6                   $250,990.67   46.09   STD       10.300         358   P           SFR             1     N
 80.00   A2/6 B30/40            $659,592.29   41.43   STD        7.750         358   P           SFR             1     N
 80.00   A2/6 B30/40            $279,028.75   52.76   STD        7.775         358   P           SFR             1     Y
 80.00   IOA2/6                 $ 98,800.00   31.57   FULL       7.475         358   P           SFR             1     Y
 80.00   A2/6                   $222,899.46   49.85   STD        8.000         358   P           PUD             1     Y
 80.00   A2/6                   $162,154.54   44.83   STD        7.425         358   P           SFR             1     Y
 80.00   A2/6                   $ 67,323.83   33.24   FULL       7.925         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $771,329.88   49.11   STD        9.350         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $ 52,793.61   37.38   STD       10.875         359   P           SFR             1     Y
 80.00   A3/6 B30/40            $145,527.10   48.47   FULL       8.475         358   P           SFR             1     Y
 80.00   IOA2/6                 $128,000.00   46.64   STD        8.575         359   P           SFR             1     Y
 80.00   IOA2/6                 $195,200.00   49.00   STD        8.575         358   S           SFR             1     Y
 80.00   A2/6 B30/40            $107,968.15   35.06   FULL       7.900         359   P           SFR             1     N
 80.00   IOA2/6                 $111,472.00   25.93   STD        7.025         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $140,745.98   28.68   FULL       6.975         359   P           SFR             1     Y
 80.00   IOA2/6                 $342,400.00   37.17   STD        8.175         358   P           SFR             1     Y
 80.00   IOA2/6                 $439,920.00   40.90   FULL       7.250         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $179,919.28   43.75   STD        8.850         358   P           2F              1     Y
 80.00   IOA2/6                 $375,920.00   50.81   FULL       6.525         358   P           SFR             1     Y
 80.00   A2/6                   $145,446.04   37.73   FULL       9.175         358   P           SFR             1     N
 80.00   A2/6 B30/40            $119,919.81   50.00   FULL       7.475         358   P           SFR             1     Y
 80.00   IOA3/6                 $400,000.00   49.51   FULL       7.775         358   P           SFR             1     Y
 80.00   A2/6                   $ 59,925.52   21.49   FULL       8.400         358   S           SFR             1     Y
 80.00   A2/6 B30/40            $187,954.46   43.19   FULL       8.575         359   P           SFR             1     Y
 80.00   IOA2/6                 $503,905.71   47.57   FULL       7.100         355   P           2F              1     Y
 80.00   A2/6 B30/40            $103,899.55   19.44   STD        9.275         359   P           CO              1     Y
 80.00   A2/6 B30/40            $215,857.70   42.83   STD        7.525         358   P           CO              1     Y
 80.00   A2/6 B30/40            $135,956.91   28.85   FULL       7.650         359   P           CO              1     Y
 80.00   IOA2/6                 $272,000.00   44.07   FULL       7.425         357   P           SFR             1     Y
 80.00   A2/6                   $222,909.96   46.44   STD        8.175         358   P           SFR             1     Y
 80.00   IOA2/6                 $260,000.00   45.30   STD        7.990         358   P           CO              1     Y
 80.00   A2/6                   $115,806.47   57.79   FULL       8.950         357   S           SFR             1     N
 80.00   A2/6                   $104,648.74   39.11   STD        7.925         358   P           PUD             1     Y
 80.00   A2/6                   $ 88,917.03   38.28   STD        7.875         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $313,341.81   39.94   FULL       7.550         359   P           SFR             1     Y
 80.00   A2/6                   $ 64,369.64   43.11   FULL       8.500         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $463,104.66   45.95   STD        9.125         359   P           SFR             1     Y
 80.00   A2/6                   $247,650.56   51.45   STD        7.775         358   P           SFR             1     Y
 80.00   IOA2/6                 $432,000.00   40.95   STD        7.175         358   P           SFR             1     Y
 80.00   A2/6                   $195,829.52   48.37   STD       10.100         358   I           SFR             1     N
 80.00   A2/6 B30/40            $175,946.97   44.46   FULL       7.825         359   P           SFR             1     N
 80.00   A2/6                   $154,138.05   36.50   STD        8.650         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $327,864.46   41.76   STD        9.125         358   P           CO              1     Y
 80.00   IOA2/6                 $391,920.00   46.08   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $227,900.75   44.22   STD        8.950         358   P           PUD             1     N
 80.00   IOA2/6                 $480,000.00   49.30   STD        7.775         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $147,976.59   49.19   FULL      10.000         359   P           SFR             1     N
 80.00   A2/6                   $218,909.31   26.19   FULL       8.075         358   P           SFR             1     Y
 80.00   IOA2/6                 $128,000.00   46.34   FULL       6.500         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $163,971.60   46.71   FULL       9.700         359   P           PUD             1     Y
 80.00   A2/6 B30/40            $165,468.66   20.72   FULL       8.300         357   P           SFR             1     N
 80.00   A3/6                   $121,506.54   39.95   FULL       7.325         359   P           PUD             1     Y
 80.00   IOA2/6                 $270,160.00   41.27   STD        7.675         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $153,552.68   37.74   FULL      10.100         358   P           SFR             1     Y
 80.00   A2/6                   $171,679.64   32.65   FULL       8.415         357   P           SFR             1     Y
 80.00   A2/6                   $ 59,872.76   39.57   FULL       7.775         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $111,100.30   49.04   FULL       6.425         358   P           SFR             1     Y
 80.00   A2/6                   $ 95,891.12   46.67   FULL       8.838         358   P           SFR             1     N
 80.00   A2/6 B30/40            $408,945.39   47.29   STD        7.725         358   P           SFR             1     Y
 80.00   A2/6                   $122,256.42   36.42   FULL       8.675         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $500,169.75   48.35   STD        7.400         359   P           CO              1     Y
 80.00   A2/6                   $ 67,954.37   40.05   FULL      11.300         358   P           SFR             1     N
 80.00   IOA2/6                 $272,000.00   57.71   FULL       7.175         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $251,851.97   47.30   STD        7.925         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $239,536.63   44.26   STD        8.275         359   P           SFR             1     Y
 80.00   A3/6 B30/40            $281,411.82   43.58   STD        7.475         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $539,884.30   40.79   STD        8.990         359   P           SFR             1     N
 80.00   IOA2/6                 $384,000.00   55.00   FULL       7.000         357   P           PUD             1     Y
 80.00   A2/6 B30/40            $126,170.21   48.03   FULL       7.990         358   P           PUD             1     Y
 80.00   A2/6                   $130,710.89   45.25   FULL       7.925         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $184,635.35   43.06   STD        7.525         359   P           PUD             1     Y
 80.00   A3/6 B30/40            $111,170.60   36.47   FULL      10.600         358   P           SFR             1     N
 80.00   A2/6                   $193,611.44   52.93   FULL       8.575         353   S           SFR             1     Y
 80.00   IOA2/6                 $285,600.00   40.10   FULL       6.350         358   P           SFR             1     Y
 80.00   IOA2/6                 $267,920.00   46.17   FULL       8.775         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $319,904.96   43.30   STD        7.875         359   P           SFR             1     Y
 80.00   IOA2/6                 $276,720.00    0.00   STD        7.925         358   P           CO              1     Y
 80.00   A2/6 B30/40            $207,080.54   45.37   STD        7.990         358   S           SFR             1     Y
 80.00   A2/6                   $131,054.63   36.59   STD        8.950         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $439,675.36   44.11   FULL       7.125         358   P           2F              1     Y
 80.00   A2/6 B30/40            $ 79,610.61   51.25   STD       10.200         356   I           CO              1     N
 80.00   A2/6 B30/40            $147,980.22   26.83   FULL      10.550         359   P           SFR             1     N
 80.00   A2/6 B30/40            $279,815.53   45.41   FULL       7.525         358   P           CO              1     Y
 80.00   A2/6 B30/40            $207,950.35   49.49   STD        8.625         359   P           SFR             1     N
 80.00   A2/6                   $492,136.46   47.83   FULL       8.000         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $112,769.95   45.61   FULL       8.250         359   P           SFR             1     Y
 80.00   A2/6                   $129,421.58   32.79   FULL       7.890         358   P           SFR             1     Y
 80.00   A2/6                   $152,570.22   40.10   FULL       7.450         358   P           SFR             1     N
 80.00   A2/6                   $ 76,667.82   33.30   FULL       8.800         357   P           SFR             1     N
 80.00   A3/6                   $240,583.76   41.46   STD        8.125         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $675,594.78   47.59   STD        9.250         357   P           SFR             1     Y
 80.00   A2/6                   $180,932.88   35.59   FULL       7.550         358   P           SFR             1     Y
 80.00   IOA2/6                 $144,000.00   28.22   STD        8.400         358   P           SFR             1     Y
 80.00   IOA3/6                 $246,400.00   49.30   FULL       7.425         358   P           CO              1     Y
 80.00   A2/6 B30/40            $ 83,967.04   43.73   FULL      10.650         357   P           2F              1     Y
 80.00   A2/6                   $130,947.86   41.63   STD        8.125         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $356,510.91   44.61   STD        8.250         357   P           PUD             1     Y
 80.00   A2/6 B30/40            $447,866.95   41.41   STD        7.875         359   P           SFR             1     Y
 80.00   A2/6                   $231,717.91   44.36   STD        8.500         358   P           SFR             1     N
 80.00   A2/6                   $307,563.83   41.30   STD        7.750         358   P           SFR             1     Y
 80.00   A2/6                   $127,665.89   44.42   STD        6.725         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $319,015.99   43.63   STD        7.990         358   P           SFR             1     N
 80.00   IOA3/6                 $194,400.00   41.85   STD        7.990         358   P           SFR             1     Y
 80.00   F30                    $ 95,144.08   45.49   STD        8.650         359   I           CO              1     N
 80.00   A3/6 B30/40            $198,111.19   38.59   STD        7.990         355   P           SFR             1     Y
 80.00   F30                    $650,759.48   31.78   FULL       6.250         358   P           2F              1     N
 80.00   A2/6 B30/40            $141,867.88   34.70   STD        8.750         356   P           SFR             1     Y
 80.00   A3/6 B30/40            $155,907.70   45.83   STD        7.900         358   P           SFR             1     Y
 80.00   IOA3/6                 $180,000.00   44.16   STD        7.750         358   P           SFR             1     Y
 80.00   F30                    $107,085.46   49.93   FULL       9.125         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $131,958.07   44.61   STD        9.999         358   P           SFR             1     N
 80.00   A3/6 B30/40            $171,914.50   27.58   FULL       8.500         358   P           SFR             1     Y
 80.00   F30                    $123,842.10   42.62   FULL       8.275         358   P           SFR             1     N
 80.00   F30                    $ 58,308.45   43.79   FULL       9.250         357   P           SFR             1     N
 80.00   A2/6 B30/40            $203,951.31   44.20   STD        8.625         359   P           2F              1     Y
 80.00   A3/6                   $207,740.51   44.34   STD        8.375         358   P           SFR             1     N
 80.00   A2/6 B30/40            $ 71,110.34   31.24   STD        9.160         354   P           SFR             1     N
 80.00   F30                    $ 75,905.18   16.07   FULL       8.375         358   P           SFR             1     N
 80.00   A3/6 B30/40            $ 76,216.48   43.26   STD       10.875         358   P           SFR             1     Y
 80.00   F30                    $ 51,950.74   36.49   FULL       9.699         358   P           SFR             1     N
 80.00   F30                    $ 91,067.85   46.72   FULL       9.625         357   P           SFR             1     N
 80.00   A2/6 B30/40            $291,810.90   46.30   LIM        8.990         357   P           PUD             1     Y
 80.00   A2/6                   $ 55,949.70   17.48   STD        9.950         358   P           SFR             1     N
 80.00   A2/6                   $171,758.37   46.95   STD        7.790         358   P           CO              1     Y
 80.00   A2/6 B30/40            $165,493.96   45.13   LIM        7.625         358   I           4F              1     N
 80.00   A2/6                   $519,353.01   42.65   STD        7.640         357   P           4F              1     N
 80.00   A2/6 B30/40            $214,261.15   38.98   STD        8.990         357   P           SFR             1     Y
 80.00   A2/6                   $159,838.57   38.69   FULL       9.399         358   P           PUD             1     N
 80.00   A2/6                   $200,254.55   40.22   STD        7.990         356   P           SFR             1     Y
 80.00   IOA2/6                 $176,000.00   42.49   STD        9.250         359   P           PUD             1     N
 80.00   A2/6                   $209,297.75   39.06   STD        7.660         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $228,734.27   42.35   STD        7.990         359   P           PUD             1     Y
 80.00   F30                    $127,927.11   32.86   FULL       8.800         359   P           SFR             1     N
 80.00   F10                    $ 84,695.68   42.25   STD        8.675         118   P           SFR             1     N
 80.00   A3/6 B30/40            $111,941.82   25.10   STD        8.350         358   P           SFR             1     Y
 80.00   A2/6                   $339,309.63   44.37   STD        7.990         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $287,860.58   43.40   STD        8.590         358   P           PUD             1     Y
 80.00   A2/6                   $303,124.15   48.22   STD        9.250         357   P           PUD             1     N
 80.00   IOA2/6                 $356,640.00   43.88   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6                   $ 97,498.40   40.58   STD        9.250         358   P           SFR             1     N
 80.00   A3/6 B30/40            $423,708.49   39.39   STD        7.375         358   P           SFR             1     Y
 80.00   IOA5/6                 $180,000.00   41.76   STD        7.500         357   P           SFR             1     Y
 80.00   A2/6                   $131,799.48   41.93   STD        7.400         358   P           CO              1     N
 80.00   F30                    $ 91,469.90   38.48   STD        8.990         359   P           SFR             1     Y
 80.00   IOA2/6                 $440,000.00   39.89   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $143,875.06   35.81   FULL       7.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $143,878.76   44.79   STD        7.999         359   P           CO              1     Y
 80.00   A3/6                   $119,791.73   42.06   FULL       8.759         357   P           SFR             1     Y
 80.00   IOA2/6                 $167,991.56   39.59   FULL       7.390         358   P           2F              1     Y
 80.00   IOA2/6                 $400,000.00   38.63   STD        7.625         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $111,956.74   47.97   STD       10.700         357   P           SFR             1     N
 80.00   A2/6 B30/40            $407,516.30   44.24   STD        6.890         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $377,818.90   48.92   FULL       8.625         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $267,741.80   49.81   FULL       7.625         357   P           SFR             1     Y
 80.00   A3/6                   $ 98,913.94   42.23   STD        9.000         359   P           CO              1     Y
 80.00   A2/6                   $239,633.62   44.65   STD        7.375         358   P           SFR             1     Y
 80.00   IOA2/6                 $318,000.00   41.73   STD        7.500         358   P           SFR             1     Y
 80.00   A3/6                   $383,481.92   48.42   STD        7.990         358   P           2F              1     Y
 80.00   A3/6                   $107,868.64   44.96   FULL       8.499         358   P           SFR             1     Y
 80.00   A2/6                   $135,809.32   45.20   STD        7.800         358   P           SFR             1     Y
 80.00   A2/6                   $259,742.66   47.04   FULL       9.490         358   P           SFR             1     N
 80.00   A2/6 B30/40            $141,533.01   41.16   FULL      10.990         356   I           SFR             1     N
 80.00   A3/6 B30/40            $251,865.28   42.84   STD        8.250         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $339,835.91   54.83   FULL       8.600         358   P           2F              1     Y
 80.00   IOA3/6                 $240,000.00   54.31   FULL       7.350         358   P           PUD             1     Y
 80.00   B30/40                 $141,926.79   44.06   STD        8.375         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $307,724.96   43.34   STD        7.890         357   P           2F              1     Y
 80.00   A3/6 B30/40            $203,877.71   40.50   STD        9.250         357   P           CO              1     Y
 80.00   A3/6                   $110,196.26   42.73   STD        9.350         357   P           SFR             1     Y
 80.00   A2/6                   $117,457.00   44.73   STD        8.500         358   P           SFR             1     Y
 80.00   A2/6                   $223,698.33   43.53   STD        7.999         358   P           SFR             1     Y
 80.00   F30                    $ 35,990.84   37.15   FULL      12.530         359   P           SFR             1     N
 80.00   A2/6 B30/40            $278,852.80   43.65   STD        7.750         356   P           SFR             1     Y
 80.00   A2/6                   $578,965.28   47.94   STD        8.625         357   P           2F              1     Y
 80.00   A3/6                   $ 47,924.75   43.31   FULL       9.250         357   P           SFR             1     Y
 80.00   B30/40                 $569,149.22   44.66   STD        6.875         358   P           2F              1     Y
 80.00   IOA3/6                 $376,000.00   41.89   STD        7.125         358   P           PUD             1     N
 80.00   A2/6 B30/40            $210,266.23   39.37   STD        7.650         358   P           SFR             1     Y
 80.00   F30                    $287,416.26   44.32   FULL       7.999         357   P           SFR             1     Y
 80.00   A2/6                   $295,639.35   14.15   FULL       8.490         358   P           SFR             1     Y
 80.00   A3/6                   $141,366.72   40.07   LIM        6.990         358   P           CO              1     Y
 80.00   A2/6                   $ 80,323.05   46.06   STD        9.650         358   P           SFR             1     N
 80.00   A2/6 B30/40            $335,916.55   43.20   STD        8.490         359   P           SFR             1     Y
 80.00   A3/6 B30/40            $211,985.09   48.38   STD       10.990         357   P           PUD             1     N
 80.00   A3/6 B30/40            $237,924.19   53.67   FULL       9.990         358   P           3F              1     Y
 80.00   IOA3/6                 $388,749.66   43.09   STD        8.250         356   P           SFR             1     Y
 80.00   A3/6 B30/40            $ 99,963.05   49.52   FULL       9.500         358   P           SFR             1     N
 80.00   A2/6 B30/40            $113,551.12   42.87   STD        8.990         358   P           SFR             1     N
 80.00   A3/6                   $ 55,974.24   42.33   STD       12.999         358   I           2F              1     N
 80.00   A3/6 B30/40            $333,478.62   39.71   FULL       9.550         358   P           PUD             1     N
 80.00   A2/6                   $ 75,093.87   36.85   FULL       9.750         357   P           SFR             1     N
 80.00   A2/6 B30/40            $507,455.61   44.75   STD        7.250         357   P           3F              1     Y
 80.00   A2/6                   $ 87,945.30   44.17   STD        8.375         359   P           SFR             1     Y
 80.00   A2/6                   $215,642.62   44.58   STD        8.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $339,779.80   44.76   LIM        8.990         357   P           PUD             1     Y
 80.00   A2/6                   $206,200.60   35.68   FULL       8.375         356   P           SFR             1     Y
 80.00   A2/6                   $359,506.79   47.41   STD        6.990         357   P           SFR             1     Y
 80.00   A3/6                   $167,762.73   36.47   FULL      10.990         357   P           SFR             1     N
 80.00   IOA2/6                 $535,188.00   38.01   FULL       7.590         358   P           SFR             1     Y
 80.00   B30/40                 $302,138.69   43.28   STD        9.770         355   P           SFR             1     N
 80.00   F30                    $121,441.98   43.07   STD        8.175         358   P           SFR             1     N
 80.00   A2/6 B30/40            $319,804.57   41.73   STD        7.790         358   P           SFR             1     N
 80.00   F30                    $ 75,874.50   17.97   FULL       8.999         357   P           SFR             1     N
 80.00   A2/6                   $251,716.40   44.57   STD        8.875         358   P           CO              1     Y
 80.00   A2/6                   $303,558.54   44.63   STD        7.625         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $186,158.34   32.53   STD        7.990         357   P           SFR             1     Y
 80.00   A2/6                   $103,012.65   37.30   FULL       9.250         358   P           SFR             1     Y
 80.00   F30                    $127,902.89   49.42   LIM        7.390         359   P           SFR             1     Y
 80.00   IOA3/6                 $166,632.00   48.18   FULL       6.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $141,533.62   38.86   STD        8.699         358   P           CO              1     Y
 80.00   F30                    $101,280.64   40.58   FULL       7.750         357   P           2F              1     Y
 80.00   A2/6                   $283,422.46   44.83   STD        9.399         356   P           SFR             1     N
 80.00   A3/6                   $186,195.17   45.69   LIM        8.990         358   P           TH              1     Y
 80.00   F15                    $ 51,301.91   30.69   STD        8.990         175   I           2F              1     N
 80.00   A3/6                   $ 57,901.63   34.74   FULL      10.259         356   P           SFR             1     Y
 80.00   A2/6 B30/40            $162,346.41   49.19   FULL       9.875         358   P           SFR             1     N
 80.00   A2/6 B30/40            $239,929.23   40.41   STD        7.900         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $139,893.69   37.29   FULL       8.450         357   P           SFR             1     Y
 80.00   IOA3/6                 $200,000.00   43.73   STD        7.990         358   P           SFR             1     Y
 80.00   IOA2/6                 $155,195.73   40.57   STD        7.500         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $423,794.77   44.49   STD        8.590         358   P           SFR             1     Y
 80.00   IOF30                  $336,000.00   43.00   STD        7.875         358   P           SFR             1     N
 80.00   A2/6                   $303,562.95   47.72   FULL       7.675         358   P           SFR             1     Y
 80.00   A2/6                   $127,789.13   41.24   FULL       6.990         358   P           CO              1     Y
 80.00   A2/6 B30/40            $399,652.95   42.39   STD        7.990         357   P           SFR             1     Y
 80.00   A3/6 B30/40            $271,712.59   40.76   STD        7.300         357   P           CO              1     Y
 80.00   A2/6                   $115,059.89   40.85   STD        8.499         358   P           CO              1     Y
 80.00   A3/6 B30/40            $141,518.21   39.08   STD        9.375         357   P           SFR             1     N
 80.00   A2/6                   $325,932.45   44.44   STD        6.899         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $187,091.88   38.83   STD        9.375         357   P           SFR             1     N
 80.00   A3/6                   $144,888.73   42.96   STD        7.850         357   P           PUD             1     Y
 80.00   IOA3/6                 $200,000.00   44.34   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $367,803.25   43.88   STD        8.250         358   P           3F              1     Y
 80.00   A2/6 B30/40            $147,936.52   45.00   STD        9.000         358   P           CO              1     Y
 80.00   F30                    $194,871.07   44.41   STD        6.875         358   P           PUD             1     N
 80.00   A2/6 B30/40            $209,536.85   44.57   STD        7.825         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $135,875.52   42.61   STD        8.125         357   P           SFR             1     Y
 80.00   F30                    $111,877.15    3.33   LIM        8.999         358   P           PUD             1     N
 80.00   A3/6                   $101,836.37   46.22   STD        7.125         358   P           CO              1     Y
 80.00   A2/6                   $235,740.66   44.80   STD        8.990         358   P           3F              1     Y
 80.00   A2/6                   $168,610.61   37.71   FULL       8.890         358   P           CO              1     Y
 80.00   A2/6                   $251,659.99   46.68   FULL       7.990         358   P           SFR             1     Y
 80.00   F30                    $ 87,043.61   23.82   FULL       8.600         357   P           SFR             1     N
 80.00   A2/6                   $193,311.74   43.16   STD        7.500         358   P           SFR             1     Y
 80.00   IOA3/6                 $181,600.00   44.81   STD        7.700         358   P           SFR             1     Y
 80.00   A2/6                   $214,045.72   48.85   FULL       8.250         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $139,916.57   44.07   FULL       7.875         358   P           SFR             1     Y
 80.00   IOA2/6                 $584,000.00   41.91   STD        7.250         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $167,903.14   41.27   STD        7.990         358   P           SFR             1     Y
 80.00   A2/6 B30/40            $174,284.28   43.76   STD        7.500         358   P           SFR             1     Y
 80.00   IOA3/6                 $204,800.00   46.31   FULL       8.250         357   P           CO              1     Y
 80.00   IOA2/6                 $186,686.00   46.89   FULL       8.000         358   S           SFR             1     Y
 80.00   A2/6                   $ 91,105.24   26.13   FULL       9.259         358   P           SFR             1     Y
 80.00   B30/40                 $519,601.50   44.50   STD        6.990         358   P           2F              1     N
 80.00   IOA2/6                 $158,400.00   43.83   STD        7.999         358   P           CO              1     Y
 80.00   F10                    $ 47,536.05   39.66   STD       10.250         118   P           SFR             1     N
 80.00   B30/40                 $230,338.62   44.92   STD        8.250         359   P           SFR             1     N
 80.00   A3/6                   $191,824.82   46.60   FULL       9.875         358   P           TH              1     Y
 80.00   A2/6 B30/40            $381,372.60   41.82   STD        7.875         358   P           2F              1     Y
 80.00   F30                    $247,698.40   41.52   STD        8.499         358   P           SFR             1     N
 80.00   A2/6                   $192,607.57   41.14   STD        9.450         358   P           CO              1     Y
 80.00   A3/6 B30/40            $275,800.94   42.70   STD        8.625         357   P           CO              1     Y
 80.00   A2/6                   $123,368.61   51.10   FULL       8.725         359   P           SFR             1     N
 80.00   A3/6 B30/40            $154,330.14   41.67   STD        8.820         358   P           SFR             1     Y
 80.00   IOA2/6                 $396,000.00   46.42   FULL       6.990         359   P           2F              1     Y
 80.00   A3/6                   $199,706.64   56.87   FULL       7.575         358   P           2F              1     Y
 80.00   A2/6                   $231,782.64   44.93   STD        9.750         358   P           SFR             1     N
 80.00   IOA2/6                 $180,000.00   48.72   FULL       7.699         358   P           TH              1     Y
 80.00   A3/6 B30/40            $131,948.21   31.44   LIM       10.650         357   P           SFR             1     N
 80.00   A2/6 B30/40            $190,305.36   46.00   LIM        8.500         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $387,770.43   45.10   FULL       7.900         358   P           SFR             1     N
 80.00   A2/6 B30/40            $111,135.88   46.64   FULL       7.990         358   P           SFR             1     Y
 80.00   A2/6                   $139,805.69   48.26   FULL       7.850         358   P           SFR             1     Y
 80.00   IOA2/6                 $136,670.02   47.35   FULL       8.000         357   P           PUD             1     Y
 80.00   A3/6 B30/40            $ 91,972.91   41.16   FULL      10.250         358   P           SFR             1     N
 80.00   A2/6 B30/40            $287,813.99   41.74   STD        8.999         357   P           SFR             1     Y
 80.00   F30                    $379,537.95   48.05   FULL       8.500         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $227,852.35   37.01   FULL       8.990         357   P           SFR             1     N
 80.00   A2/6                   $514,678.25   43.14   STD        8.350         359   P           SFR             1     Y
 80.00   A3/6 B30/40            $207,880.09   40.78   STD        7.990         358   P           3F              1     Y
 80.00   IOA3/6                 $ 92,000.00   44.60   STD        7.250         359   P           SFR             1     Y
 80.00   IOA2/6                 $368,800.00   51.85   FULL       6.850         357   P           SFR             1     Y
 80.00   A2/6                   $119,370.41   46.69   FULL       8.359         358   P           SFR             1     Y
 80.00   IOA3/6                 $178,800.00   50.78   FULL       6.590         359   P           SFR             1     Y
 80.00   A2/6                   $144,614.69   40.34   STD        8.250         358   I           3F              1     N
 80.00   A2/6                   $154,221.68   48.91   FULL       8.750         358   P           CO              1     Y
 80.00   F30                    $ 34,758.67   33.04   FULL      11.990         357   P           SFR             1     N
 80.00   IOA2/6                 $342,400.00   47.93   FULL       7.350         357   P           SFR             1     Y
 80.00   A3/6                   $107,881.32   39.24   FULL       8.990         358   P           PUD             1     Y
 80.00   A2/6                   $319,414.28   47.09   FULL       8.500         357   P           SFR             1     N
 80.00   A2/6                   $307,689.34   32.16   LIM        9.400         358   P           PUD             1     N
 80.00   IOA3/6                 $260,000.00   47.34   FULL       6.990         357   P           CO              1     Y
 80.00   IOA3/6                 $207,920.00   40.60   STD        7.750         357   P           SFR             1     Y
 80.00   F30                    $ 67,113.80   28.91   FULL      10.200         357   P           2F              1     Y
 80.00   IOA2/6                 $224,000.00   41.21   FULL       8.250         359   P           SFR             1     Y
 80.00   A2/6 B30/40            $331,801.24   44.43   FULL       7.859         358   P           SFR             1     Y
 80.00   A3/6                   $263,563.21   44.72   STD        8.990         357   P           2F              1     N
 80.00   A3/6                   $190,315.75   12.22   FULL       9.999         359   P           SFR             1     N
 80.00   A2/6 B30/40            $131,938.25   44.76   STD       10.250         357   P           SFR             1     N
 80.00   A2/6 B30/40            $113,558.04   53.76   FULL       9.500         358   P           SFR             1     Y
 80.00   A3/6 B30/40            $127,938.66   46.86   STD        8.625         358   I           SFR             1     N
 80.00   A3/6 B30/40            $127,938.66   49.88   STD        8.625         358   I           SFR             1     N
 80.00   A3/6 B30/40            $159,923.35   45.84   STD        8.625         358   I           SFR             1     N
 80.00   F30                    $155,667.53   12.88   FULL       7.750         357   P           SFR             1     Y
 80.00   F30                    $129,248.05   35.01   FULL       9.100         355   P           SFR             1     N
 80.00   A3/6                   $123,793.12   35.87   STD        8.950         357   P           SFR             1     Y
 80.00   A2/6                   $115,948.57   43.90   STD        9.990         359   P           SFR             1     N
 80.00   A2/6                   $ 63,982.19   48.96   FULL      12.125         359   I           2F              1     N
 80.00   A3/6 B30/40            $145,545.07   49.82   FULL       9.430         358   P           SFR             1     N
 80.00   F30                    $103,100.18   39.46   FULL       9.600         358   P           SFR             1     N
 80.00   F30                    $171,843.07   37.59   FULL       9.875         358   P           CO              1     N
 80.00   A3/6                   $ 76,425.19   37.16   FULL      10.999         358   P           CO              1     N
 80.00   A2/6                   $136,514.25   37.52   STD        7.850         357   P           2F              1     Y
 80.00   IOF30                  $173,600.00   43.70   FULL       7.990         358   P           2F              1     Y
 80.00   A2/6 B30/40            $499,538.64   41.47   STD        7.990         357   P           SFR             1     Y
 80.00   A2/6 B30/40            $199,820.63   32.15   FULL       7.875         357   P           SFR             1     Y
 80.00   A2/6                   $ 76,627.93   28.08   FULL       7.500         357   P           SFR             1     Y
 80.00   A2/6                   $ 59,908.39   48.83   FULL       9.375         357   P           SFR             1     Y
 80.00   A2/6                   $ 99,851.28   35.09   STD        9.500         357   P           SFR             1     N
 80.00   A2/6 B30/40            $439,656.09   35.61   FULL       8.350         357   P           SFR             1     N
 80.00   A2/6                   $203,724.77   33.14   FULL       7.990         358   P           CO              1     N
 80.00   A2/6                   $103,729.81   54.48   LIM        8.500         357   P           SFR             1     N
 80.00   IOA3/6                 $266,038.00   41.63   FULL       5.925         358   P           PUD             1     Y
 80.00   A2/6 B30/40            $375,786.95   56.33   STD        8.050         358   P           PUD             1     Y
 80.00   IOA3/6                 $114,400.00   45.97   FULL       8.400         358   P           SFR             1     Y
 80.00   A2/6                   $271,605.02   45.96   STD        7.625         358   P           SFR             1     Y
 80.00   IOA3/6                 $183,600.00   50.00   FULL       8.675         358   P           PUD             1     Y
 80.00   A2/6                   $ 81,221.89   42.47   STD        8.950         358   P           SFR             1     Y
 80.00   B30/40                 $215,923.31   56.45   FULL       7.250         359   P           2F              1     N
 80.00   A2/6                   $299,783.96   50.17   FULL       7.650         359   P           SFR             1     N
 80.00   IOA2/6                 $208,000.00   32.33   STD        6.990         359   P           SFR             1     N
 80.00   F30                    $507,846.37   49.83   STD       11.750         359   P           SFR             1     N
 80.00   A2/6 B30/40            $252,000.00   39.03   FULL       9.450         360   P           SFR             1     N
 80.00   A2/6                   $175,912.51   35.56   FULL       9.450         359   P           SFR             1     N
 80.00   A2/6 B30/40            $391,904.35   45.03   STD        8.550         359   P           2F              1     N
 80.08   IOA3/6                 $345,000.00   30.60   FULL       7.265         358   P           CO              1     N
 80.34   A2/6                   $187,756.95   24.27   STD        8.200         358   P           2F              1     N
 80.88   B30/40                 $175,410.58   47.38   FULL       8.415         358   P           SFR             1     N
 81.03   A3/6                   $164,312.13   41.66   FULL      10.740         357   P           SFR             1     N
 81.15   A2/6                   $247,228.02   39.39   STD        8.990         358   P           SFR             1     N
 81.19   A2/6 B30/40            $314,787.38   47.54   STD        8.850         357   P           PUD             1     N
 81.20   F30                    $107,898.81   32.96   STD        9.750         358   I           4F              1     N
 81.21   IOA5/6                 $121,000.00   42.66   FULL       7.875         359   P           SFR             1     N
 81.23   B30/40                 $125,858.19   51.40   FULL       9.550         358   P           SFR             1     N
 81.25   A2/6 B30/40            $103,913.61   35.09   FULL       8.140         357   P           SFR             1     N
 81.27   F30                    $ 98,861.66   26.36   FULL       7.650         356   P           SFR             1     N
 81.30   IOA3/6                 $700,000.00   21.36   FULL       7.990         358   I           3F              1     N
 81.30   F30                    $ 49,947.95   33.64   FULL       9.250         358   P           SFR             1     N
 81.36   IOA2/6                 $240,000.00   50.10   FULL       8.440         357   P           SFR             1     N
 81.38   A3/6 B30/40            $215,503.40   52.98   FULL       8.390         357   P           SFR             1     N
 81.46   A2/6 B30/40            $311,760.91   44.31   FULL       6.990         358   P           SFR             1     N
 81.48   A2/6                   $ 87,919.96   21.48   FULL       9.890         358   P           SFR             1     N
 81.57   F30                    $109,192.06   22.99   FULL       9.500         358   P           SFR             1     N
 81.58   IOA2/6                 $774,996.06   44.76   STD        8.990         351   P           SFR             1     Y
 81.70   A2/6 B30/40            $110,189.86   35.48   STD        9.900         354   P           SFR             1     N
 81.94   A3/6                   $117,884.99   39.17   FULL       9.563         358   P           SFR             1     N
 81.94   A2/6                   $235,682.23   43.41   STD        8.000         358   P           PUD             1     N
 81.96   F30                    $208,566.98   42.69   FULL       7.890         357   P           SFR             1     N
 82.00   A3/6                   $188,281.28   42.23   FULL      10.275         356   P           SFR             1     N
 82.00   A3/6                   $ 73,650.17   38.94   FULL       7.990         357   P           SFR             1     N
 82.11   B30/40                 $ 83,691.73   45.53   FULL       8.750         357   P           SFR             1     N
 82.11   IOA3/6                 $156,000.00   44.32   STD        6.999         359   P           SFR             1     N
 82.11   F30                    $ 77,928.75   27.30   STD        9.870         358   P           SFR             1     N
 82.22   F15                    $110,425.52   33.06   FULL       9.275         178   P           SFR             1     N
 82.26   A3/6 B30/40            $509,780.64   31.62   STD        8.990         358   P           4F              1     N
 82.32   F30                    $324,632.25   49.38   STD        6.940         355   P           2F              1     N
 82.35   F30                    $139,743.70   46.74   FULL       8.499         357   I           2F              1     N
 82.41   IOA3/6                 $444,999.48   44.26   STD        6.875         357   P           SFR             1     N
 82.48   F30                    $ 96,279.01   27.35   STD        7.390         357   P           SFR             1     N
 82.50   B30/40                 $164,908.53   44.18   FULL       8.125         358   P           SFR             1     N
 82.61   A2/6                   $ 75,924.94   45.85   FULL       9.500         358   P           SFR             1     N
 82.67   A3/6                   $247,568.81   41.31   FULL       8.750         357   P           SFR             1     N
 82.80   A2/6 B30/40            $283,496.80   45.04   FULL       7.300         355   P           SFR             1     N
 82.87   A2/6                   $299,521.12   40.75   FULL       7.150         358   P           SFR             1     N
 82.94   F30                    $140,667.23   44.28   STD       10.650         354   P           SFR             1     N
 83.00   F30                    $ 92,755.44   42.01   FULL       7.590         357   P           SFR             1     N
 83.00   A3/6 B30/40            $203,210.18   43.85   FULL       7.375         358   P           SFR             1     N
 83.01   A2/6                   $253,413.70   49.35   FULL       7.350         357   P           2F              1     N
 83.05   A2/6 B30/40            $244,892.71   39.14   FULL       6.500         359   P           SFR             1     N
 83.09   B30/40                 $289,652.35   37.43   FULL       6.850         357   P           SFR             1     N
 83.16   A2/6 B30/40            $315,779.68   46.07   STD        8.740         357   P           SFR             1     N
 83.32   F30                    $184,000.18   47.96   FULL       7.750         356   P           SFR             1     N
 83.33   A2/6                   $373,512.20   42.51   STD        7.225         355   P           SFR             1     N
 83.33   A2/6                   $199,320.01   47.30   STD        8.000         355   P           SFR             1     N
 83.33   A2/6 B30/40            $349,624.91   36.42   FULL       7.250         357   P           SFR             1     N
 83.33   IOA2/6                 $300,000.00   44.13   FULL       7.650         357   P           SFR             1     N
 83.33   A3/6                   $ 49,871.75   39.40   FULL       9.375         355   P           SFR             1     N
 83.33   F30                    $ 49,936.65   23.75   FULL       8.300         358   P           SFR             1     N
 83.40   A3/6 B30/40            $195,921.99   38.89   STD        9.250         358   P           2F              1     N
 83.42   A2/6                   $160,842.64   47.73   STD        9.550         358   P           SFR             1     N
 83.52   B30/40                 $ 75,945.19   35.47   STD        8.625         357   P           SFR             1     N
 83.53   A2/6 B30/40            $483,986.54   49.18   FULL       8.350         356   P           SFR             1     N
 83.53   A3/6                   $ 70,918.00   43.03   FULL       8.750         358   P           SFR             1     N
 83.58   A3/6                   $199,552.71   47.73   STD        9.500         358   I           3F              1     N
 83.59   A2/6 B30/40            $106,935.85   38.56   STD        9.250         357   P           SFR             1     N
 83.63   IOA2/6                 $189,000.00   45.32   STD        9.550         358   P           PUD             1     N
 83.64   A3/6                   $229,795.21   53.60   FULL       9.990         358   P           SFR             1     N
 83.65   A2/6                   $219,636.02   45.28   STD        8.990         357   P           SFR             1     N
 83.81   A3/6 B30/40            $175,882.90   47.95   FULL       7.490         358   P           SFR             1     N
 83.81   B30/40                 $ 87,949.26   28.77   FULL       7.990         358   P           SFR             1     N
 83.82   A2/6                   $716,516.88   44.92   LIM        9.090         354   P           SFR             1     N
 83.82   A2/6                   $ 71,182.89   41.07   FULL       9.725         358   P           SFR             1     N
 83.96   A3/6 B30/40            $177,890.03   47.22   STD        7.750         358   P           SFR             1     N
 84.00   A2/6                   $209,590.56   47.96   FULL       9.600         356   P           SFR             1     N
 84.00   A3/6                   $125,725.50   29.67   STD        7.640         357   P           SFR             1     N
 84.00   F30                    $314,654.57    0.00   STD        9.000         358   P           SFR             1     N
 84.00   A3/6                   $ 75,494.44   40.28   STD        7.820         358   I           SFR             1     N
 84.06   F30                    $173,547.17   35.93   FULL       6.740         357   P           SFR             1     N
 84.12   A2/6 B30/40            $407,804.25   45.85   STD        9.990         357   P           3F              1     N
 84.13   IOA2/6                 $319,700.00   36.99   FULL       6.250         358   P           CO              1     N
 84.14   IOA2/6                 $610,000.00   25.68   FULL       7.300         356   P           2F              1     N
 84.21   A3/6 B30/40            $239,923.54   44.64   STD        9.990         358   P           CO              1     N
 84.25   A2/6                   $106,775.51   51.74   STD        9.250         356   S           SFR             1     Y
 84.27   A2/6 B30/40            $492,753.21   46.29   STD        9.850         357   P           SFR             1     N
 84.30   F20                    $113,275.42   53.22   STD        9.490         237   P           SFR             1     N
 84.34   F30                    $348,840.07   41.37   STD        6.990         356   I           SFR             1     N
 84.34   F20                    $ 63,593.28   28.45   FULL      10.199         239   P           SFR             1     N
 84.35   B30/40                 $ 96,933.35   27.14   FULL       8.790         357   P           SFR             1     N
 84.36   A2/6 B30/40            $185,448.02   44.85   FULL       6.800         358   P           SFR             1     N
 84.38   A3/6                   $175,178.12   42.26   FULL       8.490         357   P           SFR             1     N
 84.38   A2/6                   $134,835.86   38.67   FULL       8.500         358   P           SFR             1     N
 84.42   IOA2/6                 $219,500.00   17.71   STD        9.000         358   P           SFR             1     N
 84.47   IOA2/6                 $680,000.00   47.54   STD        9.075         352   P           SFR             1     N
 84.48   F30                    $244,835.27   43.03   STD        7.990         359   P           SFR             1     N
 84.51   A2/6 B30/40            $345,577.18   44.37   STD        6.500         354   P           SFR             1     N
 84.51   A2/6 B30/40            $299,758.80   51.99   STD        8.253         357   P           SFR             1     N
 84.52   A2/6 B30/40            $261,848.97   29.69   FULL       7.990         358   P           SFR             1     N
 84.57   IOA2/6                 $296,000.00   43.93   STD        7.625         358   P           SFR             1     N
 84.62   A2/6 B30/40            $549,567.22   42.45   FULL       9.315         356   P           SFR             1     N
 84.62   F30                    $219,548.76   54.05   FULL       7.940         357   P           SFR             1     N
 84.64   A2/6                   $225,483.49   34.11   FULL       7.400         357   P           SFR             1     N
 84.66   F30                    $159,415.94   44.69   FULL       8.650         355   P           SFR             1     N
 84.66   A3/6                   $ 88,797.22   53.10   FULL       9.340         358   P           SFR             1     N
 84.69   A2/6                   $ 45,656.05   36.31   FULL       9.100         357   P           SFR             1     N
 84.73   A2/6                   $614,798.92   49.80   STD        8.190         357   P           SFR             1     N
 84.75   A3/6                   $329,558.78   41.52   STD        7.990         358   P           SFR             1     N
 84.76   IOA2/6                 $208,500.00   41.54   STD        8.250         358   P           SFR             1     N
 84.80   F30                    $105,847.55   50.56   FULL       9.660         357   P           SFR             1     N
 84.84   A2/6                   $402,553.46   43.75   STD        8.950         358   P           2F              1     N
 84.88   F30                    $105,783.67   35.35   FULL       7.525         356   P           SFR             1     N
 84.89   F30                    $550,363.44   44.56   FULL       8.200         356   P           SFR             1     N
 84.89   F30                    $401,916.19   45.70   FULL       7.000         356   P           2F              1     N
 84.90   A2/6                   $305,967.10   43.22   STD        8.750         357   P           PUD             1     N
 84.91   A3/6                   $224,642.94   39.38   STD        9.190         357   P           SFR             1     N
 84.91   IOA2/6                 $512,000.00   43.72   STD        7.990         358   P           SFR             1     N
 84.94   A2/6                   $347,482.41   49.94   STD        9.500         357   P           SFR             1     N
 84.94   A2/6                   $326,558.81   49.01   FULL       7.990         358   P           SFR             1     N
 84.97   A2/6 B30/40            $129,930.62   27.80   STD       10.600         356   P           SFR             1     N
 84.97   F30                    $121,319.28   33.18   FULL       9.500         357   P           SFR             1     N
 84.97   A3/6                   $ 78,531.50   48.69   STD       10.090         358   P           SFR             1     Y
 84.97   A3/6                   $134,744.34   53.65   STD        9.250         355   S           SFR             1     N
 84.98   A3/6                   $258,793.77   47.92   FULL       9.250         357   P           SFR             1     N
 84.98   A2/6                   $132,733.50   38.28   FULL       8.450         357   P           SFR             1     N
 84.99   IOA2/6                 $218,600.00   45.73   STD        8.750         357   P           SFR             1     N
 84.99   A3/6                   $155,680.88   45.98   FULL      10.700         358   P           SFR             1     Y
 85.00   A2/6                   $409,463.80   36.76   LIM        6.950         352   I           SFR             1     N
 85.00   F30                    $371,197.46   49.64   STD        7.040         351   P           SFR             1     N
 85.00   IOA2/6                 $444,125.00   43.43   FULL       7.000         352   P           SFR             1     N
 85.00   A2/6                   $148,388.43   35.79   STD       11.250         353   P           PUD             1     Y
 85.00   A2/6                   $183,487.99   45.23   STD        7.575         353   P           SFR             1     N
 85.00   A3/6 B30/40            $190,785.01   26.94   LIM        7.875         352   I           2F              1     N
 85.00   A2/6                   $190,267.25   48.54   STD        7.650         353   P           SFR             1     N
 85.00   A2/6                   $423,648.39   42.70   STD        9.250         354   P           SFR             1     N
 85.00   IOA2/6                 $334,898.84   40.77   FULL       7.175         354   P           SFR             1     N
 85.00   A2/6                   $524,731.96   37.66   FULL       7.750         354   P           SFR             1     N
 85.00   A3/6                   $155,018.64   36.26   STD        8.890         354   P           SFR             1     N
 85.00   A2/6                   $ 80,569.35   30.69   STD       10.900         354   P           SFR             1     Y
 85.00   A3/6 B30/40            $190,969.11   43.04   FULL       8.600         354   P           SFR             1     N
 85.00   A2/6 B30/40            $148,500.19   25.90   FULL       7.490         355   P           CO              1     N
 85.00   A3/6 B30/40            $144,258.03   35.83   FULL       7.500         355   P           SFR             1     N
 85.00   A2/6 B30/40            $130,517.00   43.86   FULL       7.650         351   P           SFR             1     Y
 85.00   A2/6                   $ 67,663.35   37.83   FULL       9.750         350   P           SFR             1     N
 85.00   A2/6                   $ 89,044.95   34.80   STD        9.900         355   P           SFR             1     Y
 85.00   A2/6 B30/40            $475,494.50   49.78   STD        9.070         355   P           SFR             1     N
 85.00   A2/6                   $236,836.09   44.50   STD        7.870         355   P           SFR             1     N
 85.00   A2/6                   $338,955.41   50.87   FULL       8.500         355   P           SFR             1     N
 85.00   A2/6                   $ 60,177.58   37.26   FULL       9.750         354   P           SFR             1     N
 85.00   A2/6 B30/40            $267,535.20   42.99   STD        9.250         356   P           SFR             1     N
 85.00   A2/6 B30/40            $216,415.85   41.15   FULL       6.990         356   P           SFR             1     N
 85.00   A2/6                   $317,803.98   45.43   FULL       7.550         356   P           SFR             1     N
 85.00   IOA2/6                 $265,200.00   39.45   FULL       7.790         356   P           SFR             1     N
 85.00   A2/6                   $118,701.93   53.34   FULL       8.390         356   P           SFR             1     Y
 85.00   A3/6 B30/40            $144,374.75   33.68   FULL       8.990         356   P           SFR             1     N
 85.00   F30                    $100,018.46   49.86   STD        8.940         355   I           3F              1     N
 85.00   A3/6                   $122,979.05   37.51   FULL       9.025         356   P           SFR             1     N
 85.00   A2/6                   $105,940.99   49.34   FULL       7.650         356   I           SFR             1     N
 85.00   A2/6                   $101,829.84   48.50   FULL       8.950         357   P           SFR             1     N
 85.00   A2/6                   $216,053.93   47.83   FULL       7.150         356   P           SFR             1     N
 85.00   A2/6                   $240,206.27   43.73   FULL       7.350         357   I           CO              1     N
 85.00   A2/6 B30/40            $305,567.59   40.74   STD        7.300         356   P           SFR             1     N
 85.00   A2/6                   $466,592.99   45.04   STD        9.625         356   I           2F              1     Y
 85.00   A2/6                   $234,684.89   41.70   FULL       8.250         355   P           PUD             1     N
 85.00   F30                    $301,076.28   37.78   STD        8.950         356   P           PUD             1     N
 85.00   A2/6                   $233,238.77   47.90   STD        9.050         356   P           SFR             1     N
 85.00   A2/6 B30/40            $432,814.29   47.09   FULL       7.700         355   P           SFR             1     N
 85.00   A2/6                   $ 72,951.38   51.57   STD        9.400         356   I           SFR             1     N
 85.00   F30                    $149,210.50   39.66   FULL       8.200         356   P           PUD             1     N
 85.00   B30/40                 $197,029.08   45.49   STD        8.990         356   P           SFR             1     N
 85.00   F30                    $101,757.72   51.25   STD        8.650         356   I           SFR             1     N
 85.00   A2/6                   $318,101.93   47.81   STD        9.400         356   I           SFR             1     N
 85.00   F30                    $161,150.44   40.33   STD        9.100         356   P           SFR             1     N
 85.00   A2/6                   $ 64,501.40   45.66   FULL      10.750         356   I           SFR             1     N
 85.00   IOA2/6                 $221,000.00   48.63   FULL       8.250         356   P           CO              1     N
 85.00   IOA2/6                 $130,050.00   31.44   STD        7.650         356   P           SFR             1     N
 85.00   A2/6 B30/40            $203,753.47   31.51   FULL       7.850         356   P           SFR             1     N
 85.00   A2/6 B30/40            $458,467.24   43.47   STD        7.990         356   P           SFR             1     N
 85.00   A2/6 B30/40            $500,917.91   39.45   STD        7.990         356   P           SFR             1     N
 85.00   A2/6 B30/40            $475,441.12   22.00   FULL       7.950         356   I           SFR             1     N
 85.00   A2/6                   $721,319.44   40.51   STD        9.050         357   P           SFR             1     Y
 85.00   A3/6                   $224,593.04   43.56   FULL       7.650         356   P           SFR             1     N
 85.00   A2/6 B30/40            $180,930.46   48.84   FULL       9.900         356   S           SFR             1     N
 85.00   A2/6                   $ 61,090.08   16.04   STD        9.990         356   I           2F              1     N
 85.00   A2/6 B30/40            $305,296.02   31.85   FULL       6.000         356   P           PUD             1     N
 85.00   A2/6 B30/40            $106,145.42   47.41   FULL       7.550         357   P           SFR             1     N
 85.00   A2/6                   $ 81,489.62   48.47   STD        9.950         357   I           2F              1     N
 85.00   A2/6                   $296,701.61   39.18   FULL       8.050         356   P           SFR             1     N
 85.00   A2/6                   $ 50,111.35   37.26   STD       12.530         357   I           SFR             1     N
 85.00   A2/6 B30/40            $237,910.85   53.16   FULL      10.800         357   P           SFR             1     N
 85.00   F30                    $ 97,211.65   46.07   FULL      10.650         357   I           SFR             1     N
 85.00   A2/6                   $287,716.89   40.48   STD        9.450         357   P           SFR             1     N
 85.00   A2/6 B30/40            $443,342.95   48.79   STD        8.250         357   P           2F              1     N
 85.00   A2/6 B30/40            $180,952.26   33.93   FULL       9.600         357   P           SFR             1     N
 85.00   A2/6                   $ 80,604.23   37.85   FULL       9.600         356   P           SFR             1     Y
 85.00   A3/6                   $ 84,888.39   42.33   FULL      10.090         357   P           SFR             1     N
 85.00   A3/6                   $106,128.93   32.58   FULL      10.750         357   P           SFR             1     N
 85.00   F30                    $118,831.73   36.27   FULL       9.740         357   P           SFR             1     N
 85.00   A3/6                   $101,804.85   33.87   STD        9.690         356   I           3F              1     N
 85.00   A3/6                   $ 92,526.01   39.80   FULL      10.000         357   P           SFR             1     N
 85.00   A3/6                   $212,279.90   49.29   FULL      11.190         357   P           SFR             1     N
 85.00   A3/6                   $117,158.64   46.14   FULL      10.490         357   P           TH              1     N
 85.00   A3/6                   $197,739.60   49.95   STD        9.250         357   P           SFR             1     N
 85.00   IOA2/6                 $374,000.00   42.29   STD        7.465         357   P           SFR             1     N
 85.00   A2/6                   $169,634.07   44.63   STD        7.700         357   P           SFR             1     Y
 85.00   IOA2/6                 $242,250.00   49.70   STD        8.615         357   P           SFR             1     N
 85.00   IOA3/6                 $357,000.00   48.18   STD        9.040         357   P           SFR             1     N
 85.00   A2/6                   $151,857.03   46.67   FULL       8.252         357   P           SFR             1     N
 85.00   A3/6                   $112,905.03   41.85   FULL      10.200         357   P           SFR             1     N
 85.00   A2/6                   $347,851.34   42.86   STD        9.820         356   P           SFR             1     N
 85.00   A2/6                   $ 66,202.02   34.88   STD       10.900         356   P           2F              1     Y
 85.00   IOA2/6                 $450,500.00   39.31   FULL       7.500         356   P           SFR             1     N
 85.00   A2/6                   $ 93,279.09   48.27   FULL       8.675         356   P           SFR             1     N
 85.00   F30                    $153,555.66   33.51   STD        8.283         357   P           PUD             1     N
 85.00   A2/6 B30/40            $203,015.89   49.85   STD        8.925         357   P           SFR             1     N
 85.00   A2/6                   $118,881.22   42.22   FULL       9.450         358   P           SFR             1     N
 85.00   A3/6 B30/40            $174,090.26   48.18   STD        8.800         356   P           SFR             1     N
 85.00   A2/6                   $ 76,258.63   33.59   FULL       7.240         356   I           SFR             1     N
 85.00   A3/6                   $ 89,035.86   28.82   STD        8.600         356   P           SFR             1     N
 85.00   F30                    $ 82,191.68   36.87   FULL       7.275         356   P           SFR             1     N
 85.00   A3/6                   $381,695.93   50.10   FULL       9.240         356   P           SFR             1     N
 85.00   A2/6                   $241,571.79   54.49   LIM        7.840         356   I           SFR             1     N
 85.00   A2/6                   $146,707.17   42.75   STD        8.740         356   P           SFR             1     N
 85.00   F30                    $ 42,316.32   40.73   FULL       8.750         356   I           SFR             1     N
 85.00   A3/6 B30/40            $ 76,428.83   21.60   STD        8.750         356   P           SFR             1     N
 85.00   A3/6                   $ 93,321.35   47.39   FULL       8.290         357   P           SFR             1     N
 85.00   A2/6                   $162,105.46   47.44   STD        9.440         357   P           SFR             1     Y
 85.00   A2/6 B30/40            $186,863.75   47.31   STD        8.590         357   P           SFR             1     N
 85.00   A3/6                   $ 76,373.42   35.93   STD        8.990         357   P           SFR             1     N
 85.00   A3/6                   $146,833.59   29.20   STD        9.550         357   P           SFR             1     N
 85.00   A2/6                   $ 66,225.89   36.39   STD       10.840         357   P           2F              1     N
 85.00   F30                    $186,601.49   33.90   FULL       7.750         357   P           SFR             1     N
 85.00   A2/6 B30/40            $229,323.21   49.32   STD        8.400         357   P           SFR             1     N
 85.00   A2/6                   $148,503.90   49.39   FULL       8.990         357   P           SFR             1     N
 85.00   A3/6                   $182,447.66   48.25   FULL       8.990         357   P           SFR             1     N
 85.00   B30/40                 $526,368.24   47.79   LIM        6.850         357   P           SFR             1     N
 85.00   F20                    $ 77,846.09   44.04   STD        9.000         237   P           SFR             1     N
 85.00   A3/6                   $ 67,857.68   33.45   FULL       7.840         357   I           SFR             1     N
 85.00   F30                    $156,940.89   21.01   LIM        8.150         357   I           2F              1     N
 85.00   F30                    $156,940.89   20.99   LIM        8.150         357   I           2F              1     N
 85.00   F30                    $129,766.97   47.32   FULL       7.650         357   P           SFR             1     N
 85.00   F30                    $101,827.73   34.03   FULL       8.890         357   P           SFR             1     N
 85.00   IOA2/6                 $216,750.00   33.51   STD        7.940         357   P           SFR             1     N
 85.00   A2/6 B30/40            $237,805.70   48.70   FULL       8.200         357   P           SFR             1     N
 85.00   A2/6                   $275,844.70   50.45   FULL       9.565         357   P           SFR             1     N
 85.00   F30                    $326,398.32   31.13   LIM        6.740         357   P           SFR             1     N
 85.00   A2/6 B30/40            $242,097.72   45.11   FULL       9.090         357   P           SFR             1     N
 85.00   B30/40                 $ 91,736.19   26.54   STD        8.750         357   P           SFR             1     N
 85.00   A3/6                   $ 97,541.70   48.47   FULL       7.750         357   I           SFR             1     N
 85.00   F30                    $ 84,873.56   28.95   LIM        9.500         357   P           SFR             1     N
 85.00   A3/6                   $212,206.45   49.42   FULL       9.890         357   P           SFR             1     N
 85.00   A3/6 B30/40            $158,028.84   45.69   FULL      10.200         357   P           SFR             1     N
 85.00   IOA2/6                 $229,500.00   35.81   LIM        8.140         357   P           SFR             1     N
 85.00   A2/6                   $270,809.33   45.17   STD        8.340         358   I           2F              1     N
 85.00   A3/6                   $105,947.02   37.15   STD        9.590         358   P           SFR             1     N
 85.00   A2/6                   $ 80,646.45   31.96   FULL       8.240         358   P           SFR             1     Y
 85.00   A3/6                   $135,868.48   49.90   FULL       9.600         358   P           SFR             1     N
 85.00   A3/6                   $263,306.02   46.47   FULL      10.875         358   P           TH              1     N
 85.00   A3/6                   $112,897.48   36.08   FULL       7.990         358   P           SFR             1     N
 85.00   A2/6                   $237,482.55   42.25   STD        7.650         357   I           SFR             1     N
 85.00   A2/6                   $156,955.63    8.95   LIM        8.390         357   P           SFR             1     N
 85.00   A3/6                   $ 86,570.07   48.44   STD       10.290         357   P           SFR             1     N
 85.00   F30                    $241,777.64   47.07   FULL       8.190         357   P           SFR             1     N
 85.00   A3/6                   $195,233.96   46.36   FULL      10.000         357   P           SFR             1     N
 85.00   IOA2/6                 $259,250.00   48.08   STD        8.950         358   P           SFR             1     N
 85.00   A2/6                   $140,125.12   43.14   FULL       9.990         358   P           SFR             1     Y
 85.00   A2/6                   $118,879.97   21.29   LIM        9.400         358   I           4F              1     N
 85.00   A3/6                   $213,992.42   49.87   STD        9.590         358   P           SFR             1     Y
 85.00   A3/6                   $141,777.41   29.54   STD        8.500         358   I           SFR             1     Y
 85.00   A2/6                   $ 99,356.63   47.63   STD        9.740         358   I           SFR             1     Y
 85.00   A3/6                   $129,072.13   42.94   FULL       9.490         358   P           SFR             1     N
 85.00   A3/6                   $191,095.69   28.95   STD       10.450         358   P           SFR             1     N
 85.00   F30                    $ 84,908.05   41.60   STD       10.990         357   P           SFR             1     N
 85.00   F30                    $127,364.21   47.50   FULL       9.140         358   P           SFR             1     N
 85.00   A3/6                   $131,623.66   44.95   STD        9.640         358   P           TH              1     N
 85.00   IOA2/6                 $356,999.88   44.70   STD        7.250         356   P           SFR             1     N
 85.00   A2/6                   $509,505.75   54.59   FULL       9.590         358   P           SFR             1     N
 85.00   A3/6                   $ 72,124.39   41.38   FULL       8.750         357   P           SFR             1     N
 85.00   F30                    $ 75,575.28   51.47   FULL       9.500         358   P           SFR             1     N
 85.00   F30                    $219,210.88   42.41   LIM        9.250         357   P           SFR             1     N
 85.00   A2/6                   $135,804.00   48.50   FULL       9.650         357   P           CO              1     N
 85.00   A2/6                   $229,083.93   46.03   FULL       6.500         358   P           SFR             1     N
 85.00   A2/6 B30/40            $348,246.22   48.18   STD        8.592         357   P           SFR             1     N
 85.00   F30                    $ 48,412.34   31.49   FULL      10.625         358   P           SFR             1     N
 85.00   A3/6                   $ 84,925.91   49.12   STD       10.090         358   I           SFR             1     N
 85.00   A3/6 B30/40            $276,071.36   47.53   FULL       7.590         358   P           SFR             1     N
 85.00   A2/6 B30/40            $203,888.20   43.03   STD        9.550         357   P           SFR             1     N
 85.00   A3/6                   $110,389.29   33.07   STD        9.590         358   P           SFR             1     N
 85.00   A3/6                   $148,594.85   46.57   STD        9.240         358   P           TH              1     Y
 85.00   A2/6                   $101,886.98   37.36   STD        8.950         358   P           SFR             1     N
 85.00   A3/6                   $108,696.76   49.29   STD        9.690         358   P           SFR             1     N
 85.00   A3/6                   $151,153.68   44.07   FULL       9.600         358   P           SFR             1     N
 85.00   A3/6                   $ 94,264.19   36.89   FULL       9.890         358   P           SFR             1     N
 85.00   A3/6                   $140,125.12   44.75   LIM        9.990         358   P           SFR             1     Y
 85.00   A3/6 B30/40            $128,301.18   49.46   STD       10.750         357   P           CO              1     N
 85.00   A3/6 B30/40            $314,398.60   49.48   STD        9.950         358   P           SFR             1     N
 85.00   A2/6                   $331,130.32   49.02   STD        8.919         358   P           SFR             1     N
 85.00   A2/6                   $253,862.50   51.92   STD        8.850         358   I           4F              1     Y
 85.00   IOA2/6                 $276,250.00   42.33   STD        8.150         358   P           2F              1     N
 85.00   A2/6 B30/40            $212,396.39   38.49   STD        8.565         358   P           CO              1     N
 85.00   A2/6 B30/40            $191,972.19   41.98   STD        7.490         358   P           SFR             1     N
 85.00   A2/6 B30/40            $488,274.39   49.25   STD        7.590         357   P           SFR             1     N
 85.00   A2/6 B30/40            $127,441.12   37.44   FULL       8.750         358   P           TH              1     N
 85.00   A2/6 B30/40            $267,627.81   52.14   FULL       8.790         358   P           SFR             1     N
 85.00   A3/6                   $161,367.99   34.46   FULL      10.390         358   P           SFR             1     N
 85.00   A3/6                   $ 89,152.94   48.46   STD        9.040         358   I           SFR             1     N
 85.00   A3/6                   $212,571.46   49.71   STD        9.100         358   S           SFR             1     N
 85.00   A3/6                   $127,394.66   45.77   FULL      10.340         358   P           SFR             1     N
 85.00   IOA3/6                 $114,750.00   39.91   FULL       7.990         358   I           SFR             1     N
 85.00   A3/6 B30/40            $146,945.26   30.24   FULL       7.250         358   P           SFR             1     N
 85.00   A3/6 B30/40            $150,380.32   36.69   FULL       8.740         358   P           SFR             1     N
 85.00   A2/6                   $ 70,497.39   54.25   FULL      10.815         358   P           SFR             1     N
 85.00   A3/6                   $ 90,756.40   34.03   FULL       9.180         356   P           SFR             1     N
 85.00   A2/6                   $135,622.17   39.67   STD        8.990         355   P           SFR             1     N
 85.00   A2/6                   $138,153.47   29.39   STD        8.850         355   P           SFR             1     Y
 85.00   A2/6                   $ 72,176.35   37.11   STD        9.350         358   P           SFR             1     N
 85.00   A2/6                   $ 93,381.55   43.87   FULL       8.300         358   P           SFR             1     N
 85.00   A2/6                   $140,099.38   44.68   STD        9.100         358   P           SFR             1     N
 85.00   A2/6                   $124,858.51   33.97   FULL      10.900         358   P           SFR             1     N
 85.00   F30                    $153,731.09   49.97   STD       10.650         358   P           SFR             1     N
 85.00   A2/6                   $144,358.78   40.09   STD        9.550         358   P           SFR             1     N
 85.00   A2/6                   $114,656.90   41.93   FULL      10.425         358   P           SFR             1     N
 85.00   A2/6                   $140,945.26   38.48   FULL       9.000         358   P           SFR             1     N
 85.00   A3/6                   $ 78,652.68   37.76   FULL      10.925         358   P           SFR             1     N
 85.00   A2/6                   $258,964.22   35.29   FULL       8.975         358   P           SFR             1     N
 85.00   A2/6                   $ 76,433.10   46.00   FULL      10.075         358   P           SFR             1     N
 85.00   A2/6                   $182,599.33   42.99   STD       10.350         358   P           SFR             1     N
 85.00   A2/6                   $241,922.16   34.17   FULL       7.975         358   P           SFR             1     N
 85.00   A2/6                   $ 83,234.56   35.61   FULL      10.575         358   P           SFR             1     N
 85.00   F15                    $ 40,951.13   36.81   FULL      11.025         177   P           SFR             1     N
 85.00   A2/6                   $ 72,588.98   24.01   FULL      10.575         357   P           SFR             1     N
 85.00   A2/6                   $152,602.57   44.44   FULL       6.750         357   P           SFR             1     N
 85.00   A2/6                   $ 78,025.38   37.05   STD        8.950         356   P           SFR             1     N
 85.00   A2/6                   $ 90,752.82   42.85   FULL       8.200         357   P           SFR             1     N
 85.00   A2/6 B30/40            $237,036.21   54.19   STD        9.990         357   P           SFR             1     N
 85.00   A2/6                   $478,921.51   49.28   STD        9.450         358   I           2F              1     N
 85.00   A2/6                   $110,374.35   35.64   FULL       8.825         358   P           SFR             1     Y
 85.00   A2/6                   $212,228.10   52.50   FULL       8.251         358   P           SFR             1     N
 85.00   A2/6 B30/40            $182,697.64   48.30   FULL       8.000         359   P           SFR             1     N
 85.00   A2/6                   $ 63,681.18   26.43   LIM        9.075         358   I           SFR             1     N
 85.00   IOA3/6                 $205,700.00   49.68   FULL       7.250         358   P           SFR             1     N
 85.00   A2/6                   $271,637.46   46.00   FULL       8.050         358   P           SFR             1     N
 85.00   A2/6                   $174,050.82   45.67   STD        8.800         358   P           SFR             1     N
 85.00   A2/6 B30/40            $171,659.32   28.54   FULL       8.650         359   P           SFR             1     N
 85.00   IOA2/6                 $364,650.00   41.57   FULL       7.600         358   P           SFR             1     N
 85.00   A2/6                   $100,160.78   38.28   STD        7.850         358   I           SFR             1     N
 85.00   A2/6                   $129,897.46   47.84   STD        8.675         358   P           PUD             1     Y
 85.00   A2/6                   $ 50,920.06   42.21   FULL       9.250         357   I           SFR             1     N
 85.00   A2/6 B30/40            $390,786.37   41.14   FULL       8.175         358   P           SFR             1     N
 85.00   A3/6                   $127,379.25   41.71   STD        9.699         358   P           SFR             1     N
 85.00   IOA2/6                 $400,350.00   46.15   FULL       8.625         357   P           SFR             1     N
 85.00   A3/6 B30/40            $182,687.39   45.12   FULL       9.750         358   P           SFR             1     N
 85.00   A3/6                   $445,827.45   22.12   FULL       9.700         358   P           SFR             1     N
 85.00   A3/6                   $ 49,275.74   40.98   FULL       9.500         359   P           SFR             1     N
 85.00   A2/6                   $114,710.83   28.95   FULL      11.200         359   P           SFR             1     N
 85.00   A2/6 B30/40            $148,654.70   38.23   STD        9.999         356   I           SFR             1     N
 85.00   A2/6 B30/40            $356,846.44   39.90   STD        8.990         358   P           SFR             1     N
 85.00   A2/6 B30/40            $229,457.65   42.46   STD        9.490         359   P           SFR             1     N
 85.00   A3/6 B30/40            $134,261.95   43.21   FULL      10.375         358   P           SFR             1     N
 85.00   A2/6 B30/40            $329,658.13   44.39   STD        8.990         358   P           SFR             1     N
 85.00   A2/6 B30/40            $153,374.39   46.42   STD        9.875         358   I           SFR             1     N
 85.00   A2/6                   $110,363.48   19.21   LIM       10.375         357   P           SFR             1     N
 85.00   A3/6                   $ 93,327.48   24.88   FULL       9.750         358   P           SFR             1     N
 85.00   A2/6 B30/40            $286,312.56   41.99   STD        9.990         357   P           SFR             1     N
 85.00   A2/6 B30/40            $121,511.27   48.05   FULL       9.990         358   I           SFR             1     N
 85.00   F30                    $190,993.50   49.42   FULL       9.990         357   P           SFR             1     N
 85.00   F25                    $123,848.57   40.48   FULL       8.250         298   P           SFR             1     N
 85.00   A3/6 B30/40            $203,776.90   44.24   STD        8.500         356   P           SFR             1     N
 85.00   IOA3/6                 $271,150.00   36.16   LIM        8.750         358   P           SFR             1     N
 85.00   A2/6                   $ 50,935.27   41.17   FULL      10.250         357   I           SFR             1     N
 85.00   A3/6                   $150,316.29   23.20   FULL       9.999         358   P           SFR             1     N
 85.00   A3/6                   $ 93,345.31   36.71   LIM        8.990         357   P           SFR             1     N
 85.00   A2/6 B30/40            $339,659.60   41.00   STD        7.490         357   P           SFR             1     N
 85.00   A3/6                   $128,964.87   49.81   FULL      10.990         355   P           SFR             1     N
 85.00   A2/6                   $220,702.37   43.41   FULL       7.999         358   I           2F              1     N
 85.00   A3/6 B30/40            $196,282.73   42.60   FULL       9.750         358   P           SFR             1     N
 85.00   A2/6                   $ 97,679.94   37.79   FULL      10.999         358   P           SFR             1     N
 85.00   A2/6                   $271,502.03   44.58   STD        8.499         357   P           SFR             1     N
 85.00   A3/6 B30/40            $237,971.89   41.07   STD       10.950         359   P           SFR             1     N
 85.00   A3/6                   $280,250.72   38.76   FULL       9.999         358   P           SFR             1     N
 85.00   A2/6                   $206,190.88   37.40   STD        8.750         357   P           SFR             1     N
 85.00   A3/6                   $139,939.44   32.29   STD        8.990         356   P           SFR             1     N
 85.00   A2/6                   $475,576.18   45.79   STD        9.990         358   I           3F              1     N
 85.00   A3/6                   $186,826.65   35.19   FULL       9.800         358   P           SFR             1     N
 85.00   A3/6                   $227,457.35   52.29   FULL       9.490         358   P           PUD             1     N
 85.00   A2/6                   $174,015.32   46.99   FULL       7.999         358   P           TH              1     N
 85.00   A3/6                   $122,341.05   48.53   FULL       9.600         359   P           SFR             1     N
 85.00   A3/6                   $203,607.04   51.21   STD        8.250         357   P           SFR             1     N
 85.00   A2/6 B30/40            $123,169.81   44.46   STD        8.975         357   I           SFR             1     N
 85.00   A3/6                   $ 70,397.91   42.24   FULL      10.200         355   I           2F              1     N
 85.00   B30/40                 $186,940.42   41.65   FULL       9.990         358   P           CO              1     N
 85.00   IOA3/6                 $340,000.00   29.08   STD        7.875         358   P           SFR             1     N
 85.00   A3/6                   $212,357.13   41.19   STD        7.990         359   P           SFR             1     N
 85.00   A2/6                   $241,943.21   44.94   STD       10.259         357   P           SFR             1     N
 85.00   A2/6 B30/40            $169,937.20   39.96   STD        9.500         358   P           SFR             1     N
 85.00   B30/40                 $140,189.67   48.67   FULL       8.990         358   P           SFR             1     N
 85.00   F30                    $ 78,137.56   35.94   FULL      10.499         358   P           SFR             1     N
 85.00   A2/6                   $106,029.41   34.40   STD        9.300         356   P           SFR             1     N
 85.00   A2/6 B30/40            $305,860.77   43.50   STD        8.800         358   P           SFR             1     N
 85.00   A3/6 B30/40            $113,840.45   45.26   FULL       9.990         357   P           SFR             1     N
 85.00   A5/6                   $ 76,402.43   44.95   STD       10.500         357   P           SFR             1     N
 85.00   A2/6                   $125,549.45   29.70   FULL       9.499         356   I           2F              1     N
 85.00   A2/6                   $195,134.76   42.89   FULL       8.400         357   P           SFR             1     N
 85.00   A2/6                   $146,060.08   40.19   FULL       9.650         358   P           SFR             1     N
 85.00   A2/6                   $419,642.42   46.63   STD        9.250         355   P           SFR             1     N
 85.00   A2/6                   $309,943.56   44.76   STD        9.500         358   P           SFR             1     N
 85.00   F20                    $117,145.50   27.38   FULL       9.999         239   P           SFR             1     N
 85.00   A3/6                   $113,730.57   46.48   FULL       9.500         357   P           SFR             1     N
 85.00   F30                    $127,359.89   40.75   FULL       8.990         358   P           SFR             1     N
 85.00   A2/6 B30/40            $311,713.19   38.98   FULL       8.990         359   P           SFR             1     N
 85.00   A3/6                   $105,345.36   26.52   FULL       9.250         359   P           SFR             1     N
 85.00   A3/6                   $225,038.96   40.61   STD        9.750         358   P           SFR             1     N
 85.00   F30                    $ 53,476.38   45.04   FULL       9.875         357   P           SFR             1     N
 85.00   A2/6 B30/40            $177,606.00   34.70   FULL       8.499         359   P           CO              1     N
 85.00   A2/6 B30/40            $ 67,956.42   24.25   FULL       9.999         356   P           SFR             1     N
 85.00   F30                    $112,100.28   22.49   FULL       9.999         358   P           SFR             1     N
 85.00   A3/6 B30/40            $150,411.91   42.20   STD        8.425         359   P           SFR             1     N
 85.00   A3/6                   $ 55,224.89   45.61   FULL       9.875         359   P           SFR             1     N
 85.00   A2/6                   $167,754.46   45.85   FULL      10.990         358   I           4F              1     N
 85.00   A2/6 B30/40            $344,059.13   34.61   FULL       8.125         358   P           SFR             1     N
 85.00   F30                    $182,666.52   42.55   STD        9.850         359   I           2F              1     N
 85.00   A2/6                   $124,838.95   49.53   STD        9.999         358   P           SFR             1     N
 85.00   A2/6                   $173,961.69   44.42   STD        8.990         357   P           SFR             1     N
 85.00   A2/6 B30/40            $152,931.89   45.17   STD        8.875         358   P           SFR             1     N
 85.00   A2/6                   $190,793.43   40.95   FULL       8.625         356   P           SFR             1     N
 85.00   A2/6 B30/40            $108,730.16   38.75   FULL       9.999         356   P           SFR             1     N
 85.00   B30/40                 $ 80,699.58   45.40   FULL       9.375         357   P           SFR             1     N
 85.00   A3/6                   $139,501.82   47.23   FULL       8.999         358   P           SFR             1     Y
 85.00   A3/6                   $203,787.89   47.57   FULL       9.255         358   P           SFR             1     N
 85.00   F30                    $ 49,243.15   41.73   FULL       8.759         358   P           SFR             1     N
 85.00   A2/6                   $116,285.67   49.11   FULL       9.750         357   P           SFR             1     N
 85.00   A2/6                   $335,513.03   30.73   LIM        7.750         359   P           SFR             1     N
 85.00   A3/6 B30/40            $123,154.73   42.41   STD        9.375         356   P           SFR             1     N
 85.00   A2/6 B30/40            $344,037.34   53.98   FULL       7.750         358   I           2F              1     N
 85.00   A2/6                   $163,006.59   49.31   FULL       8.625         358   P           SFR             1     N
 85.00   A3/6                   $ 50,906.16   32.88   FULL       9.875         356   P           SFR             1     N
 85.00   IOA2/6                 $181,900.00   43.12   STD        8.125         357   P           PUD             1     N
 85.00   A3/6 B30/40            $205,611.52   36.08   STD        8.990         358   I           SFR             1     N
 85.00   A5/6                   $143,567.35   44.84   STD        8.750         359   I           SFR             1     N
 85.00   A5/6                   $144,416.86   39.91   STD        8.750         359   I           SFR             1     N
 85.00   IOA2/6                 $195,500.00   48.54   FULL       7.625         358   P           TH              1     N
 85.00   A3/6 B30/40            $121,497.08   46.05   FULL       8.950         358   P           SFR             1     N
 85.00   A2/6 B30/40            $191,187.39   50.07   STD        9.900         358   P           SFR             1     N
 85.00   A2/6                   $127,421.16   49.51   STD        8.400         359   P           SFR             1     N
 85.48   IOA2/6                 $212,000.00   38.49   FULL       7.950         356   P           SFR             1     N
 85.50   IOA3/6                 $513,000.00   46.26   STD        7.000         356   P           CO              1     N
 85.56   IOA2/6                 $308,000.00   41.71   FULL       7.500         352   P           SFR             1     N
 86.09   IOA2/6                 $495,000.00   25.73   FULL       7.100         358   P           SFR             1     N
 86.14   A2/6                   $301,155.38   40.29   STD        8.800         358   P           SFR             1     N
 86.22   A2/6 B30/40            $349,099.68   40.17   STD        7.990         359   P           SFR             1     N
 86.23   A3/6 B30/40            $287,750.12   36.87   STD        7.990         357   P           SFR             1     N
 86.25   A2/6                   $413,173.17   42.10   STD       12.050         354   P           SFR             1     N
 86.33   F30                    $116,127.45   22.45   FULL       7.890         357   P           SFR             1     N
 86.33   A2/6 B30/40            $211,378.07   48.62   FULL       7.990         358   P           SFR             1     N
 86.36   IOF30                  $475,000.00   53.11   STD        9.150         358   P           3F              1     Y
 86.54   A2/6                   $448,815.43   43.72   LIM        9.250         355   P           3F              1     N
 86.54   A2/6                   $449,484.58   23.97   STD        8.790         358   P           SFR             1     N
 86.55   A2/6                   $332,688.60   38.62   STD        9.350         357   I           3F              1     N
 86.75   A3/6                   $261,740.69   45.18   STD        9.490         358   P           SFR             1     N
 86.81   A2/6 B30/40            $225,504.17   50.14   LIM        7.990         357   P           SFR             1     N
 86.88   IOA2/6                 $404,000.00   48.69   FULL       6.200         358   P           PUD             1     N
 86.90   A5/6                   $125,743.81   44.39   STD        9.400         356   P           SFR             1     N
 86.96   A2/6 B30/40            $179,844.29   52.25   FULL       8.000         357   P           SFR             1     N
 86.97   A2/6                   $103,258.68   53.61   STD        8.740         356   I           SFR             1     N
 87.00   A2/6 B30/40            $352,121.83   47.44   LIM        8.990         357   P           SFR             1     N
 87.00   A2/6                   $237,160.62   48.61   STD        9.690         357   P           SFR             1     N
 87.00   A3/6 B30/40            $266,047.84   49.12   FULL       7.590         358   P           SFR             1     N
 87.27   IOA2/6                 $528,000.00   37.57   FULL       7.690         357   P           SFR             1     N
 87.37   F30                    $495,257.89   34.88   FULL       7.300         353   P           SFR             1     N
 87.38   A2/6                   $179,411.19   47.87   STD        9.100         354   I           SFR             1     N
 87.47   A2/6 B30/40            $124,965.71   42.34   FULL       8.150         359   P           CO              1     N
 87.57   IOA2/6                 $306,500.00   37.91   FULL       7.400         357   P           SFR             1     N
 87.59   F30                    $126,779.19   53.12   FULL       8.750         357   P           SFR             1     N
 87.68   F15                    $ 86,084.72   47.50   STD        8.650         177   P           SFR             1     N
 87.71   A3/6 B30/40            $206,856.11   50.44   FULL       8.750         357   P           SFR             1     N
 87.74   A2/6 B30/40            $135,882.02   32.72   STD        7.990         357   P           TH              1     N
 87.81   B30/40                 $280,477.78   48.25   FULL       7.130         355   P           SFR             1     N
 87.83   A2/6 B30/40            $302,812.83   53.36   FULL       7.750         358   P           SFR             1     N
 87.84   A3/6                   $109,649.91   41.79   FULL       9.900         357   P           SFR             1     N
 88.02   IOA2/6                 $213,000.00   38.60   FULL       7.400         354   P           SFR             1     N
 88.07   F30                    $ 86,233.59    8.57   FULL       8.250         357   P           SFR             1     N
 88.13   F30                    $296,178.45   48.99   FULL       7.900         356   P           SFR             1     N
 88.13   F30                    $166,799.92   51.52   FULL       8.500         354   P           SFR             1     N
 88.16   F30                    $167,268.60   47.95   FULL       9.850         357   P           SFR             1     N
 88.19   A2/6 B30/40            $317,248.19   47.81   STD        8.300         357   P           SFR             1     N
 88.24   A2/6 B30/40            $749,598.20   49.37   STD        9.625         357   S           CO              1     N
 88.26   A3/6 B30/40            $202,925.03   40.33   STD        9.500         358   P           SFR             1     N
 88.27   A2/6 B30/40            $229,300.11   41.02   FULL       7.990         357   P           2F              1     N
 88.41   IOA2/6                 $557,000.00   39.41   FULL       7.000         354   P           SFR             1     N
 88.47   A2/6 B30/40            $260,877.70   23.29   STD        8.700         358   P           SFR             1     N
 88.50   A2/6 B30/40            $ 99,962.28   46.92   STD        9.430         358   I           SFR             1     N
 88.50   A2/6 B30/40            $199,871.03   52.64   FULL       7.600         358   P           SFR             1     N
 88.52   A3/6 B30/40            $107,944.57   46.50   FULL       8.390         358   P           SFR             1     N
 88.53   F30                    $300,817.65   45.86   STD        8.500         359   P           3F              1     N
 88.55   IOA2/6                 $580,000.00   50.90   FULL       7.875         353   P           SFR             1     N
 88.57   F30                    $ 61,907.78   47.07   FULL       9.500         357   P           SFR             1     N
 88.64   F30                    $ 97,327.48   31.80   FULL       8.750         357   P           SFR             1     N
 88.64   A3/6 B30/40            $116,949.83   37.63   FULL       9.000         358   P           SFR             1     N
 88.70   A2/6                   $ 78,409.39   34.13   STD       10.690         357   P           SFR             1     N
 88.70   F30                    $146,107.88   44.37   FULL       8.990         357   P           PUD             1     N
 88.73   B15/30                 $ 69,652.99   48.93   STD       11.675         173   P           SFR             2     N
 88.82   A2/6                   $376,990.69   49.71   STD        7.990         358   I           SFR             1     N
 88.89   A2/6 B30/40            $ 79,954.62   37.45   STD       10.400         356   P           CO              1     N
 88.89   A2/6 B30/40            $199,884.71   42.30   STD        7.990         358   P           SFR             1     N
 88.89   A2/6                   $ 63,929.08   24.15   FULL       8.950         358   P           SFR             1     N
 88.96   F30                    $248,535.21   34.64   FULL       7.440         357   P           SFR             1     N
 89.02   IOA2/6                 $227,000.00   43.73   FULL       7.625         357   P           SFR             1     N
 89.04   A3/6 B30/40            $166,384.27   52.97   FULL       8.750         357   P           SFR             1     N
 89.06   B15/30                 $ 47,465.91   35.80   STD       10.990         178   P           SFR             2     N
 89.07   A2/6 B30/40            $133,327.12   44.88   FULL       7.600         354   P           SFR             1     N
 89.22   IOA2/6                 $207,000.00   47.27   FULL       7.950         356   P           SFR             1     N
 89.38   A3/6                   $100,864.09   48.30   FULL       9.975         357   I           SFR             1     N
 89.39   A3/6 B30/40            $147,404.76   53.39   FULL       9.000         357   P           SFR             1     N
 89.44   A2/6 B30/40            $402,013.62   47.65   STD        7.850         356   P           SFR             1     N
 89.44   A2/6                   $160,702.29   38.23   STD        8.450         357   P           SFR             1     N
 89.47   A2/6                   $152,442.51   46.77   STD        8.575         354   P           SFR             1     N
 89.47   A2/6                   $152,776.26   45.72   STD        7.590         358   P           SFR             1     N
 89.47   F30                    $ 75,529.15   49.20   STD        9.750         358   I           SFR             1     N
 89.50   A2/6                   $ 89,377.01   32.16   FULL       7.900         358   P           SFR             1     N
 89.52   A3/6                   $ 93,859.88   35.57   FULL       9.490         357   P           SFR             1     N
 89.53   A2/6                   $153,829.37   48.97   STD        8.950         358   P           SFR             1     N
 89.58   A3/6                   $214,729.32   47.18   FULL       8.330         358   P           SFR             1     N
 89.60   A2/6 B30/40            $111,944.33   32.68   FULL       8.500         358   I           SFR             1     N
 89.61   A2/6                   $206,775.35   45.47   STD        9.050         358   P           SFR             1     N
 89.62   A2/6                   $284,357.09   46.66   STD        8.900         356   P           2F              1     N
 89.68   A2/6                   $277,618.04   35.00   STD        7.900         358   P           SFR             1     N
 89.71   A3/6 B30/40            $156,809.00   38.40   STD        8.040         357   P           SFR             1     N
 89.71   F30                    $156,611.68   49.63   FULL       7.000         357   P           SFR             1     N
 89.82   A2/6                   $101,123.72   47.46   FULL       9.275         354   P           SFR             1     N
 89.84   F30                    $229,416.81   27.60   FULL       8.330         356   P           SFR             1     N
 89.86   A2/6                   $ 62,758.61   46.02   FULL      10.050         355   P           SFR             1     N
 89.89   B30/40                 $479,681.53   51.49   FULL       7.500         358   P           SFR             1     N
 89.90   F30                    $ 80,710.19   33.41   STD        9.800         355   I           2F              1     Y
 89.90   B30/40                 $ 93,435.00   50.52   FULL       8.750         357   P           SFR             1     N
 89.90   A2/6                   $ 56,586.56   23.44   STD        9.990         358   P           CO              1     N
 89.96   A2/6                   $110,737.97   42.83   STD        9.390         358   P           CO              1     N
 89.97   A3/6                   $ 75,287.22   47.54   FULL      10.300         358   P           SFR             1     Y
 89.97   A2/6                   $103,527.39   44.20   FULL      11.100         358   P           SFR             1     Y
 89.97   IOA5/6                 $157,439.00   44.81   FULL       8.570         358   P           SFR             1     N
 89.98   A2/6                   $245,752.74   50.22   STD        9.750         357   P           CO              1     N
 89.98   A3/6                   $ 46,621.95   26.65   FULL       8.940         357   I           SFR             1     N
 89.98   A2/6                   $227,996.56   48.39   STD        8.940         358   P           SFR             1     N
 89.98   A2/6                   $213,125.65   37.13   LIM       10.390         358   I           SFR             1     N
 89.99   A2/6                   $ 89,672.51   32.51   STD        9.440         355   I           3F              1     N
 89.99   A2/6                   $166,157.15   39.67   STD        9.590         357   P           SFR             1     N
 89.99   A3/6                   $129,134.43   46.95   FULL       8.340         357   I           SFR             1     N
 89.99   A3/6                   $173,386.70   39.30   FULL      10.400         357   P           SFR             1     Y
 89.99   A2/6                   $179,687.92   28.46   FULL       8.650         358   I           SFR             1     Y
 89.99   A2/6                   $152,744.15   44.88   STD        9.350         358   I           SFR             1     N
 89.99   A2/6                   $314,831.46   49.94   LIM        9.390         358   I           SFR             1     N
 90.00   A2/6                   $250,111.09   44.32   STD       10.175         352   I           SFR             1     N
 90.00   A2/6                   $152,275.86   48.08   STD        9.400         352   P           SFR             1     N
 90.00   A2/6                   $138,694.27   40.05   FULL       7.750         352   P           CO              1     N
 90.00   A1/6                   $268,513.38   48.61   STD        7.990         352   P           SFR             1     N
 90.00   IOA2/6                 $450,000.00   42.39   LIM        7.190         352   P           PUD             1     N
 90.00   A2/6 B30/40            $440,219.24   39.73   STD        8.500         353   P           SFR             1     N
 90.00   IOA2/6                 $346,500.00   46.40   STD        7.150         353   P           SFR             1     N
 90.00   A2/6                   $ 98,546.63   17.38   FULL       8.225         353   P           SFR             1     N
 90.00   A2/6                   $327,447.46   36.84   STD        9.200         354   P           SFR             1     N
 90.00   A2/6                   $179,239.36   45.85   FULL       9.030         353   P           2F              1     N
 90.00   A2/6                   $187,250.62   54.35   FULL       7.588         352   P           SFR             1     N
 90.00   IOA3/6                 $243,000.00   23.26   STD        8.000         354   P           SFR             1     N
 90.00   A2/6                   $147,921.99   40.75   STD        8.250         354   P           SFR             1     N
 90.00   A2/6                   $ 85,265.34   45.58   FULL       9.050         355   P           SFR             1     N
 90.00   A3/6                   $533,804.17   23.02   STD        8.850         355   P           PUD             1     N
 90.00   A3/6                   $105,941.35   44.34   FULL       9.990         355   P           SFR             1     N
 90.00   A2/6 B30/40            $265,885.14   48.54   FULL       6.990         355   P           CO              1     N
 90.00   A2/6 B30/40            $337,890.64   49.40   STD        7.895         355   P           SFR             1     N
 90.00   F30                    $ 61,038.06   45.35   FULL       9.225         355   P           SFR             1     N
 90.00   A2/6                   $261,722.47   41.68   FULL       7.100         355   P           PUD             1     N
 90.00   A2/6 B30/40            $184,277.91   47.36   STD        8.645         355   P           CO              1     N
 90.00   A2/6                   $318,605.04   40.79   STD        8.950         355   P           SFR             1     N
 90.00   A2/6                   $251,193.62   42.77   STD        8.300         355   I           CO              1     N
 90.00   A3/6                   $186,656.36   41.79   STD        8.775         355   P           SFR             1     N
 90.00   A2/6                   $ 80,708.97   34.10   LIM        7.725         355   P           SFR             1     N
 90.00   A2/6 B30/40            $557,299.34   47.68   STD        8.500         355   P           SFR             1     N
 90.00   A2/6 B30/40            $ 61,139.00   48.02   FULL       8.525         356   P           SFR             1     N
 90.00   F30                    $ 85,376.10   25.50   STD       10.990         356   P           PUD             1     N
 90.00   A2/6                   $115,711.19   33.70   FULL       8.075         355   I           SFR             1     N
 90.00   A2/6                   $246,867.58   49.67   STD        9.150         356   P           SFR             1     Y
 90.00   A2/6                   $186,006.16   49.71   STD       10.640         356   P           SFR             1     N
 90.00   A3/6                   $181,890.17   49.12   STD        9.540         356   P           SFR             1     N
 90.00   A2/6                   $363,549.13   29.18   FULL       8.190         356   I           4F              1     N
 90.00   A3/6                   $ 67,232.75   35.39   STD        8.940         353   P           SFR             1     N
 90.00   A3/6                   $141,955.29   48.60   FULL      10.190         356   P           SFR             1     N
 90.00   A2/6 B30/40            $272,488.61   38.34   FULL       9.365         356   P           SFR             1     Y
 90.00   IOA2/6                 $639,000.00   49.15   STD        9.300         353   P           SFR             1     N
 90.00   F30                    $107,737.12   45.62   LIM        9.625         355   P           SFR             1     N
 90.00   A3/6                   $143,754.75   34.92   FULL       8.850         357   P           SFR             1     N
 90.00   IOA2/6                 $409,500.00   34.02   STD        8.200         356   P           SFR             1     N
 90.00   A2/6 B30/40            $238,257.77   40.96   STD        8.450         356   P           SFR             1     N
 90.00   A2/6                   $143,736.42   23.90   STD        8.500         357   P           SFR             1     N
 90.00   A2/6                   $398,992.19   39.00   STD        7.490         355   P           SFR             1     N
 90.00   A2/6                   $772,045.48   43.65   STD        8.350         356   I           4F              1     N
 90.00   A2/6                   $260,422.08   45.37   FULL       8.990         356   P           SFR             1     N
 90.00   IOA2/6                 $504,000.00   43.31   STD        7.400         356   P           CO              1     N
 90.00   A2/6 B30/40            $149,276.24   47.64   FULL       8.150         357   P           SFR             1     N
 90.00   A2/6                   $215,465.55   36.91   FULL       8.450         356   P           SFR             1     N
 90.00   A2/6                   $116,629.87   34.85   STD        9.700         355   P           SFR             1     Y
 90.00   A2/6 B30/40            $203,999.13   33.91   FULL       7.950         355   P           PUD             1     N
 90.00   A2/6 B30/40            $332,609.00   47.15   FULL       7.950         356   P           PUD             1     N
 90.00   A2/6                   $296,294.14   46.27   STD        8.890         356   P           CO              1     N
 90.00   A2/6 B30/40            $539,655.20   49.24   STD       10.450         356   P           SFR             1     N
 90.00   A2/6 B30/40            $224,638.95   49.99   FULL       7.650         355   P           SFR             1     N
 90.00   A2/6 B30/40            $485,914.64   45.32   FULL       6.000         356   P           2F              1     N
 90.00   A2/6                   $179,576.87   41.95   STD        8.700         356   P           SFR             1     N
 90.00   F30                    $202,047.86   28.71   FULL       8.950         356   P           SFR             1     N
 90.00   A2/6                   $141,044.09   31.65   LIM        9.950         356   P           SFR             1     N
 90.00   A2/6 B30/40            $378,519.58   48.56   STD        8.490         356   P           SFR             1     N
 90.00   A2/6 B30/40            $395,686.98   46.67   STD        9.300         356   P           SFR             1     N
 90.00   A2/6 B30/40            $161,816.63   14.15   FULL       8.450         356   I           SFR             1     N
 90.00   A2/6                   $ 56,163.17   48.70   FULL      10.700         356   I           2F              1     N
 90.00   A2/6                   $191,456.54   40.53   STD       10.100         356   P           PUD             1     N
 90.00   IOA2/6                 $553,500.00   46.88   FULL       7.900         356   P           SFR             1     N
 90.00   A2/6                   $173,896.69   39.07   STD        9.550         356   P           SFR             1     N
 90.00   A2/6                   $700,739.49   29.72   STD        9.990         356   P           SFR             1     N
 90.00   A2/6                   $224,298.27   48.60   STD        9.000         356   P           SFR             1     N
 90.00   F30                    $233,498.79   44.70   STD        9.150         356   P           SFR             1     N
 90.00   A2/6 B30/40            $202,344.58   46.84   STD        9.775         356   P           SFR             1     N
 90.00   F30                    $ 98,747.44   38.33   FULL       8.300         356   P           SFR             1     N
 90.00   A2/6 B30/40            $476,446.36   54.65   FULL       7.990         356   P           SFR             1     N
 90.00   B30/40                 $449,632.58   35.67   FULL       8.200         357   P           SFR             1     N
 90.00   A2/6 B30/40            $571,903.90   42.10   STD        8.990         356   P           SFR             1     N
 90.00   IOA2/6                 $193,500.00   38.74   STD        8.550         356   S           SFR             1     N
 90.00   A2/6 B30/40            $314,746.52   33.10   FULL       8.250         357   I           SFR             1     N
 90.00   A2/6                   $225,248.95   48.89   FULL       7.750         357   P           SFR             1     N
 90.00   A2/6                   $139,233.65   47.38   FULL       9.700         356   P           SFR             1     N
 90.00   A2/6 B30/40            $209,521.17   47.41   FULL       8.050         357   P           SFR             1     N
 90.00   A2/6 B30/40            $224,710.90   44.04   FULL       6.600         357   P           PUD             1     N
 90.00   A2/6 B30/40            $561,923.65   50.94   FULL       8.050         357   P           CO              1     N
 90.00   F30                    $206,617.20   40.24   STD        8.450         357   P           2F              1     N
 90.00   F30                    $190,475.03   37.52   STD        8.850         357   P           SFR             1     N
 90.00   IOA2/6                 $855,000.00   37.20   FULL       7.990         357   P           PUD             1     N
 90.00   IOA2/6                 $315,900.00   41.39   STD        8.725         357   P           PUD             1     Y
 90.00   A2/6                   $211,171.29   34.56   STD        9.290         357   I           SFR             1     N
 90.00   A2/6                   $197,223.22   46.57   STD        9.140         357   I           SFR             1     N
 90.00   A3/6 B30/40            $165,517.09   47.26   STD        9.850         357   P           SFR             1     Y
 90.00   A3/6                   $ 84,457.10   28.36   STD        8.890         357   I           SFR             1     Y
 90.00   A3/6 B30/40            $310,283.53   47.07   STD        8.740         357   P           CO              1     N
 90.00   A2/6 B30/40            $296,853.57   47.58   STD        9.900         357   P           2F              1     N
 90.00   A2/6                   $ 89,826.64   25.09   FULL       8.250         357   I           TH              1     N
 90.00   A3/6                   $116,583.59   37.09   FULL       8.690         354   I           SFR             1     N
 90.00   A3/6                   $ 84,015.92   44.86   FULL      10.550         356   P           SFR             1     Y
 90.00   A3/6                   $ 88,551.14   46.62   FULL      10.850         357   P           SFR             1     Y
 90.00   A3/6                   $ 98,880.69   31.33   FULL      10.490         357   P           SFR             1     Y
 90.00   A3/6                   $287,512.03   47.73   FULL       8.875         357   P           SFR             1     N
 90.00   A3/6                   $109,636.34   49.37   FULL       9.490         357   P           SFR             1     N
 90.00   F30                    $336,814.72   54.72   FULL       7.990         357   P           SFR             1     N
 90.00   F30                    $163,391.52   45.80   FULL       7.750         357   P           CO              1     N
 90.00   IOA2/6                 $351,000.00   42.41   FULL       8.400         356   P           SFR             1     N
 90.00   F30                    $129,519.51   54.10   FULL       8.750         357   P           SFR             1     N
 90.00   A3/6                   $229,100.98   44.83   FULL       8.750         357   P           SFR             1     N
 90.00   A3/6 B30/40            $988,299.27   59.34   FULL       6.600         356   P           SFR             1     N
 90.00   IOA2/6                 $288,900.00   44.07   STD        8.250         357   P           SFR             1     N
 90.00   A2/6                   $202,077.06   52.12   FULL       7.850         357   P           SFR             1     N
 90.00   A2/6                   $179,878.01   41.53   STD       10.750         356   P           SFR             1     N
 90.00   IOA2/6                 $504,000.00   48.03   FULL       7.550         355   P           SFR             1     N
 90.00   F30                    $ 50,251.36   52.48   FULL       8.700         355   I           SFR             1     N
 90.00   F30                    $ 76,242.41   47.65   STD        9.900         355   I           SFR             1     N
 90.00   A2/6 B30/40            $270,881.52   39.15   STD        5.990         350   P           SFR             1     N
 90.00   A2/6 B30/40            $647,071.35   36.82   FULL       7.250         356   P           SFR             1     N
 90.00   A2/6 B30/40            $401,058.26   42.92   LIM        9.050         356   P           SFR             1     N
 90.00   A2/6                   $269,412.95   47.92   FULL       7.650         357   P           SFR             1     N
 90.00   A2/6                   $628,846.92   48.17   STD        8.500         357   P           PUD             1     N
 90.00   A2/6                   $242,541.38   52.40   LIM        8.350         357   I           SFR             1     N
 90.00   F30                    $112,316.18   48.88   FULL       9.050         357   I           SFR             1     N
 90.00   F30                    $ 74,576.40   24.84   FULL       8.990         357   P           SFR             1     N
 90.00   A2/6                   $156,411.67   35.42   FULL      10.500         357   P           SFR             1     N
 90.00   A2/6                   $204,898.00   47.67   STD        9.550         357   P           CO              1     N
 90.00   F30                    $ 71,882.36   47.57   FULL       9.050         357   P           SFR             1     N
 90.00   A2/6                   $471,695.28   31.46   STD        8.850         357   P           2F              1     N
 90.00   A2/6                   $166,219.36   44.31   LIM        8.900         357   P           SFR             1     N
 90.00   F30                    $ 69,577.54   20.35   LIM        9.550         355   I           2F              1     N
 90.00   A2/6 B30/40            $286,372.38   45.02   STD        9.380         355   P           CO              1     N
 90.00   A2/6 B30/40            $579,661.05   43.36   STD        8.015         355   P           SFR             1     N
 90.00   A2/6 B30/40            $107,910.19   39.55   FULL       9.140         356   P           SFR             1     Y
 90.00   A3/6                   $113,173.76   54.08   FULL       9.490         356   P           SFR             1     N
 90.00   A2/6                   $323,264.58   45.97   FULL       8.870         356   P           SFR             1     N
 90.00   A3/6                   $ 44,925.79   37.64   FULL      10.390         356   P           SFR             1     N
 90.00   F30                    $130,196.39   39.87   FULL       8.750         356   P           SFR             1     N
 90.00   A2/6                   $ 66,494.30   41.89   STD        9.190         357   P           SFR             1     N
 90.00   A2/6                   $230,014.85   49.57   STD        8.940         357   P           SFR             1     N
 90.00   A3/6                   $ 89,843.52   50.03   FULL       8.750         357   P           SFR             1     N
 90.00   A2/6                   $ 55,724.38   43.66   STD        9.940         357   I           SFR             1     N
 90.00   A2/6                   $ 71,910.37   38.39   STD       10.340         357   I           SFR             1     N
 90.00   A2/6                   $ 61,096.85   32.40   FULL       8.900         357   I           SFR             1     Y
 90.00   A2/6                   $ 85,377.83   49.25   STD        9.690         357   P           SFR             1     Y
 90.00   A2/6                   $ 93,812.88   54.28   FULL       9.590         357   P           SFR             1     Y
 90.00   B30/40                 $ 71,964.40   43.24   STD        9.890         357   I           SFR             1     N
 90.00   A2/6                   $161,729.76   35.04   STD        8.950         357   P           SFR             1     N
 90.00   A2/6                   $121,318.91   42.15   FULL       9.490         357   P           SFR             1     Y
 90.00   A2/6                   $ 34,150.09   26.62   FULL       9.590         357   P           SFR             1     N
 90.00   A2/6                   $ 71,879.65   38.91   LIM        8.940         357   I           SFR             1     N
 90.00   A3/6                   $143,778.50   46.62   FULL       9.340         357   P           SFR             1     N
 90.00   A3/6 B30/40            $107,898.53   44.96   STD        9.840         357   P           TH              1     N
 90.00   A3/6                   $ 71,903.44   30.96   FULL       9.990         357   P           TH              1     N
 90.00   F30                    $ 86,271.49   51.69   FULL       9.500         357   P           SFR             1     N
 90.00   F15                    $147,365.93   41.05   FULL       9.500         177   P           SFR             1     N
 90.00   F30                    $ 85,365.71   49.49   FULL       9.240         357   P           SFR             1     N
 90.00   F30                    $ 94,308.50   30.50   FULL       8.000         357   P           SFR             1     N
 90.00   A2/6 B30/40            $193,413.95   49.24   STD       10.240         357   P           SFR             1     Y
 90.00   IOA2/6                 $486,000.00   41.32   STD        8.815         357   P           SFR             1     N
 90.00   A2/6 B30/40            $422,726.08   42.93   STD        8.990         357   P           SFR             1     N
 90.00   A2/6                   $584,081.23   35.85   STD        9.240         357   I           3F              1     N
 90.00   A2/6 B30/40            $213,101.16   54.15   FULL       7.740         357   P           SFR             1     N
 90.00   F30                    $143,741.78   50.31   FULL       8.600         357   P           SFR             1     N
 90.00   A3/6 B30/40            $ 76,441.06   54.87   FULL       8.400         357   P           SFR             1     N
 90.00   F30                    $ 97,031.01   28.20   LIM        8.750         357   P           SFR             1     N
 90.00   B30/40                 $161,885.87   45.18   FULL       8.750         357   P           SFR             1     N
 90.00   A3/6                   $103,320.07   27.73   FULL       8.750         357   P           SFR             1     N
 90.00   A3/6 B30/40            $122,285.90   54.62   FULL       7.740         357   P           SFR             1     N
 90.00   F30                    $147,343.38   44.20   FULL       8.750         357   P           TH              1     N
 90.00   A3/6 B30/40            $211,352.98   49.51   LIM        8.750         357   P           SFR             1     N
 90.00   A3/6                   $148,241.81   27.35   FULL       8.750         357   P           SFR             1     N
 90.00   A3/6                   $108,710.65   42.23   FULL       8.750         357   P           SFR             1     N
 90.00   A3/6 B30/40            $ 66,562.96   41.27   FULL       9.500         357   P           SFR             1     N
 90.00   A2/6                   $115,045.51   42.19   STD        9.990         357   P           SFR             1     N
 90.00   A3/6 B30/40            $141,240.29   48.63   STD        9.050         358   P           SFR             1     N
 90.00   A2/6 B30/40            $233,826.62   43.09   STD       10.040         358   P           SFR             1     N
 90.00   A3/6                   $ 53,944.85   27.55   FULL       9.340         358   I           TH              1     N
 90.00   A2/6                   $112,368.05   40.89   STD        8.675         358   P           SFR             1     N
 90.00   A2/6                   $ 76,435.56   48.68   FULL      10.250         358   P           SFR             1     Y
 90.00   A3/6                   $ 89,912.97   44.07   FULL       9.600         358   P           SFR             1     N
 90.00   F30                    $112,393.48   51.40   FULL       9.700         358   P           SFR             1     N
 90.00   A3/6                   $ 80,915.52   48.28   FULL       9.240         358   P           2F              1     N
 90.00   A2/6                   $209,962.90   35.66   STD        9.990         358   I           SFR             1     N
 90.00   B30/40                 $238,293.08   47.71   FULL       7.990         357   P           SFR             1     N
 90.00   A3/6                   $193,276.08   47.96   STD        8.740         358   P           CO              1     N
 90.00   A3/6                   $121,403.85   50.51   STD       10.540         358   P           SFR             1     Y
 90.00   A3/6                   $ 80,936.72   52.09   FULL      10.600         358   P           SFR             1     Y
 90.00   A2/6 B30/40            $287,843.77   44.58   STD        8.200         358   P           SFR             1     N
 90.00   IOA2/6                 $218,700.00   46.91   STD        9.540         357   P           SFR             1     N
 90.00   IOA2/6                 $274,500.00   44.83   STD        8.150         357   P           SFR             1     N
 90.00   F30                    $283,119.81   49.52   STD        9.990         357   P           SFR             1     N
 90.00   A2/6                   $ 76,379.09   54.13   FULL       9.490         357   P           SFR             1     N
 90.00   A2/6                   $ 57,555.38   41.84   FULL      10.640         358   I           SFR             1     Y
 90.00   A3/6                   $ 77,309.69   45.37   STD        8.700         358   P           SFR             1     Y
 90.00   A3/6                   $ 74,609.17   46.32   STD        8.500         358   I           SFR             1     Y
 90.00   A2/6                   $130,372.46   21.38   FULL       9.550         358   P           TH              1     N
 90.00   A2/6                   $161,857.59   48.48   STD       10.050         358   P           SFR             1     Y
 90.00   A3/6                   $170,770.69   48.10   STD        9.990         357   P           SFR             1     N
 90.00   A2/6 B30/40            $194,231.33   49.39   STD        7.990         357   P           CO              1     N
 90.00   A3/6                   $220,188.20   44.65   STD        9.740         357   P           SFR             1     N
 90.00   A3/6 B30/40            $148,452.13   33.36   FULL       9.950         358   P           CO              1     N
 90.00   A2/6                   $157,803.37   34.47   FULL      11.690         357   P           SFR             1     N
 90.00   A3/6                   $166,362.74   40.86   FULL      10.350         358   P           SFR             1     N
 90.00   A3/6                   $156,347.04   52.72   FULL       7.090         358   P           SFR             1     N
 90.00   IOA3/6                 $228,600.00   31.77   STD        9.065         358   P           SFR             1     N
 90.00   F30                    $188,813.34   39.36   FULL       9.500         358   P           SFR             1     N
 90.00   A3/6                   $ 85,262.33    0.00   STD        7.875         356   P           SFR             1     N
 90.00   A3/6                   $256,190.67   41.47   FULL       8.540         358   P           SFR             1     N
 90.00   A3/6                   $108,753.96   52.90   FULL       9.990         357   P           SFR             1     N
 90.00   F30                    $289,570.66   49.84   STD       10.540         358   P           SFR             1     N
 90.00   A2/6 B30/40            $223,066.02   48.86   FULL       7.850         358   P           SFR             1     N
 90.00   A2/6 B30/40            $305,818.75   54.87   STD        9.290         357   P           SFR             1     N
 90.00   A3/6                   $213,058.21   41.33   FULL       8.840         358   P           SFR             1     N
 90.00   A3/6                   $191,521.92   51.14   STD        9.790         358   P           SFR             1     N
 90.00   A3/6                   $350,736.81   32.18   FULL      10.790         358   P           SFR             1     N
 90.00   A3/6                   $ 92,629.14   39.65   FULL      10.700         358   P           SFR             1     N
 90.00   A3/6                   $143,437.22   42.07   FULL      10.680         358   P           SFR             1     Y
 90.00   A2/6                   $202,332.69   30.84   STD       10.340         358   I           SFR             1     N
 90.00   A2/6                   $122,274.98   36.20   FULL       9.340         358   P           SFR             1     Y
 90.00   A2/6                   $202,258.80   37.07   LIM        8.600         358   I           SFR             1     N
 90.00   A2/6                   $206,784.54   41.56   STD        9.250         358   P           SFR             1     N
 90.00   A2/6                   $160,891.73   41.70   STD        8.200         358   P           SFR             1     N
 90.00   A2/6                   $242,741.73   47.27   STD        9.150         358   P           SFR             1     N
 90.00   A2/6                   $109,691.32   46.79   STD        9.490         358   P           SFR             1     Y
 90.00   A2/6                   $244,508.40   48.87   STD        8.600         358   P           SFR             1     N
 90.00   A2/6                   $ 80,921.67   46.53   STD        9.600         358   I           2F              1     N
 90.00   A2/6                   $251,378.45   49.41   FULL       7.790         357   P           SFR             1     N
 90.00   IOA2/6                 $103,500.00   36.08   STD       10.965         358   I           CO              1     N
 90.00   IOA2/6                 $202,500.00   46.97   STD        8.590         358   P           SFR             1     N
 90.00   A2/6 B30/40            $198,048.52   46.72   FULL       7.500         358   P           SFR             1     N
 90.00   A2/6 B30/40            $211,426.23   43.71   STD        9.690         358   P           SFR             1     N
 90.00   A2/6 B30/40            $152,923.74   44.07   FULL       8.490         358   P           SFR             1     N
 90.00   A2/6 B30/40            $214,108.14   45.26   FULL       9.000         358   P           SFR             1     N
 90.00   A2/6 B30/40            $188,894.15   48.20   STD        8.090         358   P           CO              1     N
 90.00   A2/6 B30/40            $238,426.31   48.42   STD       10.090         358   P           SFR             1     N
 90.00   A2/6 B30/40            $143,922.04   49.56   FULL       9.590         357   P           SFR             1     N
 90.00   A2/6 B30/40            $193,317.53   50.10   FULL       7.700         357   P           SFR             1     Y
 90.00   A2/6 B30/40            $229,409.74   50.93   STD        9.290         358   P           SFR             1     Y
 90.00   A2/6 B30/40            $118,748.15   49.20   FULL       8.940         358   P           SFR             1     Y
 90.00   A2/6 B30/40            $179,901.36   33.79   LIM        9.550         357   P           SFR             1     N
 90.00   A3/6                   $186,931.68   30.34   FULL       7.690         358   P           SFR             1     N
 90.00   A3/6                   $127,613.49   44.24   FULL       7.600         358   P           SFR             1     N
 90.00   A3/6                   $161,779.65   52.99   LIM        7.950         358   P           SFR             1     N
 90.00   A3/6                   $ 89,897.99   44.20   FULL       8.840         358   I           SFR             1     Y
 90.00   IOA3/6                 $ 94,500.00   34.56   FULL       8.915         358   P           SFR             1     N
 90.00   IOA3/6                 $252,000.00   48.59   STD        9.090         358   P           SFR             1     Y
 90.00   A3/6 B30/40            $188,894.47   36.06   FULL       8.100         358   P           SFR             1     N
 90.00   A3/6 B30/40            $172,183.95   43.31   FULL       7.625         357   P           SFR             1     N
 90.00   A3/6 B30/40            $238,414.26   43.64   STD        9.590         358   P           SFR             1     N
 90.00   A3/6 B30/40            $152,032.61   49.68   FULL       8.890         358   P           CO              1     N
 90.00   A3/6 B30/40            $137,631.06   37.91   STD        9.850         357   P           SFR             1     N
 90.00   B15/30                 $ 33,955.90   49.81   STD       11.500         176   I           SFR             2     N
 90.00   A2/6                   $ 80,922.48   43.69   FULL       9.650         358   P           SFR             1     N
 90.00   A2/6                   $102,549.24   46.83   STD       12.675         358   I           SFR             1     N
 90.00   A2/6                   $175,297.32   39.12   FULL       8.750         358   I           SFR             1     N
 90.00   A2/6                   $179,723.86   41.04   FULL       7.350         358   I           SFR             1     N
 90.00   A2/6                   $139,347.03   50.36   FULL       9.000         358   P           SFR             1     N
 90.00   F30                    $160,533.63   41.82   FULL      10.950         358   P           SFR             1     N
 90.00   A2/6                   $238,246.50   48.55   FULL       9.150         358   P           SFR             1     N
 90.00   A2/6                   $247,276.56   31.09   STD        9.925         358   S           SFR             1     N
 90.00   A2/6                   $ 38,231.17   24.65   STD       12.700         358   I           SFR             1     N
 90.00   A2/6                   $337,355.07   41.92   STD        8.450         358   P           SFR             1     N
 90.00   A2/6                   $ 38,231.17   24.68   STD       12.700         358   I           SFR             1     N
 90.00   A2/6                   $188,799.13   51.31   FULL       9.150         358   P           SFR             1     N
 90.00   A2/6                   $103,377.97   34.99   FULL       8.650         358   P           SFR             1     N
 90.00   A2/6                   $210,354.18   47.30   STD       10.850         358   I           SFR             1     N
 90.00   A2/6                   $ 84,086.34   47.31   FULL      10.750         358   P           CO              1     N
 90.00   F30                    $305,583.79   44.63   FULL       7.950         358   P           SFR             1     N
 90.00   IOA2/6                 $620,100.00   43.76   STD       10.100         358   P           2F              1     N
 90.00   F30                    $260,660.83   37.64   FULL       8.175         358   P           SFR             1     N
 90.00   A2/6                   $290,013.26   30.04   LIM       10.400         358   P           SFR             1     N
 90.00   F30                    $ 71,923.47   48.73   FULL       9.150         358   I           SFR             1     N
 90.00   A2/6                   $168,981.24   45.31   FULL       8.200         358   P           SFR             1     N
 90.00   F30                    $ 80,918.30   49.36   FULL       9.400         358   I           2F              1     N
 90.00   A2/6                   $219,345.76   35.83   STD       10.800         358   I           SFR             1     N
 90.00   A2/6                   $114,200.57   49.81   STD       10.100         358   P           SFR             1     N
 90.00   A2/6                   $166,261.83   43.52   FULL       7.700         358   P           CO              1     N
 90.00   A2/6                   $ 85,430.26   43.90   FULL      10.400         358   I           SFR             1     N
 90.00   A2/6                   $240,917.60   41.82   STD       10.625         357   I           SFR             1     N
 90.00   A2/6                   $ 97,510.72   47.63   FULL       9.700         357   I           SFR             1     N
 90.00   A2/6                   $121,335.65   48.76   STD        9.950         357   I           SFR             1     N
 90.00   F30                    $ 47,670.60   20.55   STD       13.525         357   I           2F              1     N
 90.00   A2/6                   $257,851.38   44.17   FULL       9.825         357   P           SFR             1     N
 90.00   A2/6                   $295,512.67   44.21   FULL       9.525         356   P           SFR             1     N
 90.00   A2/6 B30/40            $170,916.25   49.01   FULL       8.550         358   P           SFR             1     Y
 90.00   B30/40                 $352,548.72   47.75   FULL       7.250         358   P           SFR             1     N
 90.00   A2/6                   $193,394.09   23.11   STD        8.990         359   P           SFR             1     N
 90.00   A2/6                   $309,260.51   50.61   STD        9.000         358   P           3F              1     N
 90.00   IOA2/6                 $216,000.00   24.25   FULL       7.500         359   P           SFR             1     N
 90.00   F30                    $229,779.35   42.53   STD        7.500         359   P           SFR             1     N
 90.00   A2/6                   $141,122.63   51.22   FULL       8.345         358   I           SFR             1     N
 90.00   A2/6                   $129,032.77   49.55   STD        9.900         358   P           SFR             1     N
 90.00   A2/6                   $211,191.33   33.34   FULL       7.600         358   P           CO              1     N
 90.00   IOA2/6                 $337,500.00   39.90   FULL       8.825         358   P           SFR             1     N
 90.00   A2/6                   $190,499.93   44.36   FULL       7.225         358   P           SFR             1     N
 90.00   A2/6                   $ 53,928.48   42.33   FULL      10.050         357   I           SFR             1     N
 90.00   A2/6 B30/40            $135,410.06   28.88   FULL       7.900         359   P           CO              1     N
 90.00   IOA2/6                 $272,070.00   48.43   STD        9.450         358   P           SFR             1     Y
 90.00   A2/6                   $189,270.61   37.72   FULL       9.700         358   P           SFR             1     N
 90.00   IOA2/6                 $580,500.00   43.32   STD        8.675         358   P           SFR             1     N
 90.00   A2/6 B30/40            $197,920.22   44.39   FULL       6.800         359   P           SFR             1     N
 90.00   A2/6                   $449,546.11   50.08   STD        9.400         358   P           SFR             1     N
 90.00   IOA2/6                 $616,500.00   52.72   FULL       6.450         358   P           SFR             1     N
 90.00   A2/6 B30/40            $404,731.28   31.69   FULL       7.500         358   P           SFR             1     N
 90.00   A2/6 B30/40            $782,683.63   49.06   STD        9.200         358   P           SFR             1     N
 90.00   A3/6 B30/40            $166,362.86   41.74   STD       10.375         358   P           SFR             1     N
 90.00   A2/6                   $341,676.18   37.33   FULL       9.700         358   P           SFR             1     N
 90.00   A2/6 B30/40            $ 88,164.04   38.55   STD       10.525         357   I           2F              1     N
 90.00   IOA2/6                 $306,000.00   31.24   STD        8.700         356   P           SFR             1     N
 90.00   A2/6                   $102,974.14   17.68   STD       10.875         358   I           SFR             1     N
 90.00   A2/6 B30/40            $314,760.23   50.60   FULL       8.650         358   P           SFR             1     N
 90.00   A2/6 B30/40            $502,947.32   40.50   FULL       7.800         359   P           PUD             1     N
 90.00   A2/6 B30/40            $ 94,484.70   41.20   STD        9.925         359   P           SFR             1     N
 90.00   IOA2/6                 $544,500.00   34.20   LIM        7.700         358   P           SFR             1     N
 90.00   A2/6 B30/40            $188,944.37   46.00   STD       10.250         358   I           SFR             1     N
 90.00   A2/6 B30/40            $265,328.80   34.66   FULL       7.600         358   P           PUD             1     N
 90.00   A2/6 B30/40            $427,382.75   46.17   FULL       8.150         359   P           SFR             1     N
 90.00   A2/6 B30/40            $401,276.42   49.50   FULL       7.750         359   P           SFR             1     N
 90.00   A2/6                   $282,335.22   30.43   STD        9.750         358   I           SFR             1     N
 90.00   IOA2/6                 $165,600.00   47.96   FULL       8.600         358   P           SFR             1     N
 90.00   A2/6 B30/40            $ 51,272.93   45.45   FULL       9.675         357   I           SFR             1     N
 90.00   A2/6 B30/40            $192,553.01   48.59   FULL       8.550         359   P           SFR             1     N
 90.00   A2/6                   $130,327.81   43.16   FULL       8.100         358   P           SFR             1     N
 90.00   A2/6                   $117,807.87   24.90   STD       10.600         358   I           SFR             1     N
 90.00   A2/6                   $107,898.81   40.23   FULL       9.750         358   I           2F              1     N
 90.00   A2/6 B30/40            $346,443.09   44.85   STD        9.875         359   I           CO              1     N
 90.00   A2/6                   $ 95,312.02   41.94   STD        9.825         358   I           SFR             1     N
 90.00   A2/6 B30/40            $ 59,749.17   31.15   FULL       9.550         359   I           CO              1     Y
 90.00   A2/6                   $ 89,136.21   38.90   STD       10.500         356   P           SFR             1     N
 90.00   A2/6                   $186,083.73   53.93   STD        8.725         358   I           PUD             1     N
 90.00   A2/6                   $ 96,175.50   44.95   FULL       8.200         358   P           SFR             1     N
 90.00   A2/6 B30/40            $159,265.20   43.25   FULL       8.925         359   P           SFR             1     N
 90.00   A3/6                   $157,260.76   32.51   FULL       7.400         358   P           SFR             1     N
 90.00   A2/6 B30/40            $ 63,889.34   36.15   STD        9.825         359   I           2F              1     N
 90.00   A2/6 B30/40            $269,898.76   41.07   STD        9.450         358   I           SFR             1     N
 90.00   A2/6 B30/40            $118,759.29   48.38   FULL       7.375         359   P           SFR             1     N
 90.00   A2/6 B30/40            $494,714.64   47.02   FULL       7.990         358   P           SFR             1     N
 90.00   IOA2/6                 $342,000.00   48.01   STD        8.800         358   P           SFR             1     N
 90.00   A2/6                   $161,723.98   13.62   FULL       8.775         358   I           SFR             1     N
 90.00   A2/6                   $129,379.26   18.46   FULL       8.850         357   P           2F              1     N
 90.00   IOA2/6                 $468,000.00   48.91   FULL       7.050         358   P           SFR             1     N
 90.00   A2/6 B30/40            $147,568.18   39.58   STD       10.075         359   I           CO              1     N
 90.00   A2/6 B30/40            $355,392.11   49.69   FULL       7.800         359   P           4F              1     N
 90.00   A2/6                   $233,875.47   48.90   STD        9.125         359   I           SFR             1     N
 90.00   A2/6 B30/40            $224,781.05   34.15   FULL       7.590         357   P           CO              1     N
 90.00   A2/6 B30/40            $134,930.90   53.91   FULL       8.400         358   P           SFR             1     N
 90.00   A3/6 B30/40            $183,553.28   33.36   STD       10.725         358   I           PUD             1     N
 90.00   IOA2/6                 $490,500.00   46.61   STD        9.250         359   P           2F              1     N
 90.00   A2/6                   $215,874.43   43.85   STD        8.700         359   P           SFR             1     N
 90.00   F30                    $ 78,142.71   45.43   STD       10.150         358   I           SFR             1     N
 90.34   A2/6                   $238,105.42   33.55   STD        8.990         357   I           SFR             1     N
 90.61   F20                    $ 89,247.14   40.76   FULL       8.125         237   P           SFR             1     N
 90.77   B30/40                 $213,156.45   49.99   FULL       7.450         358   P           SFR             1     N
 90.91   B30/40                 $299,570.04   44.82   FULL       7.250         356   P           SFR             1     N
 91.00   A3/6                   $ 59,047.17   26.88   FULL       8.750         357   P           SFR             1     N
 91.09   A2/6 B30/40            $234,866.85   49.14   FULL       8.050         358   P           SFR             1     N
 91.35   A2/6 B30/40            $237,346.66   49.60   STD        9.000         357   P           SFR             1     N
 91.50   F30                    $147,972.27   45.83   FULL       8.750         357   P           SFR             1     N
 91.70   A2/6                   $150,889.03   29.16   FULL       7.990         356   P           SFR             1     N
 91.83   A2/6                   $426,218.46   44.58   STD        8.500         357   P           SFR             1     N
 91.84   IOA2/6                 $225,000.00   44.31   FULL       7.890         357   P           SFR             1     N
 91.98   A2/6 B30/40            $418,287.31   49.83   STD        9.800         357   P           SFR             1     N
 92.00   F20                    $ 76,901.77   38.87   STD        8.375         237   P           SFR             1     N
 92.81   F30                    $120,477.41   46.26   FULL       7.700         358   P           SFR             1     N
 93.33   A3/6                   $405,070.28   54.94   FULL       7.390         357   P           SFR             1     N
 93.41   F30                    $ 84,372.13   23.79   FULL       8.100         355   P           SFR             1     N
 93.42   F30                    $ 39,950.23   48.23   FULL      11.690         356   P           SFR             2     N
 93.44   A2/6 B30/40            $113,924.76   44.56   LIM        9.900         356   P           SFR             1     N
 93.66   B15/30                 $ 29,934.21   46.77   STD       12.390         178   P           SFR             2     N
 93.68   A3/6 B30/40            $541,927.33   47.43   STD        9.990         358   P           SFR             1     N
 94.22   A2/6                   $103,550.94   47.95   FULL       9.900         358   P           SFR             1     N
 94.29   IOA2/6                 $165,000.00   49.07   FULL       7.990         355   P           SFR             1     Y
 94.34   A2/6 B30/40            $749,125.71   48.12   FULL       7.975         356   P           PUD             1     N
 94.38   A2/6                   $150,655.84   40.82   FULL       8.850         356   P           SFR             1     N
 94.50   A3/6 B30/40            $170,041.04   54.86   FULL      11.050         357   P           SFR             1     N
 94.51   IOA2/6                 $182,400.00   51.19   FULL       9.600         357   P           SFR             1     N
 94.60   A2/6                   $297,666.36   40.79   FULL       8.900         358   I           SFR             1     N
 94.64   IOA2/6                 $548,889.93   33.06   STD        7.750         353   P           SFR             1     N
 94.64   A2/6                   $139,033.72   38.27   STD        9.400         356   P           PUD             1     N
 94.74   A2/6 B30/40            $269,875.07   49.79   FULL       6.300         359   P           SFR             1     N
 94.78   IOA5/6                 $218,000.00   48.37   FULL       8.775         357   P           PUD             1     N
 94.81   IOA3/6                 $384,000.00   46.13   STD        8.475         355   P           SFR             1     N
 94.84   F30                    $ 57,714.18   17.20   FULL       9.400         355   P           SFR             1     N
 94.92   F30                    $ 39,356.80   20.92   FULL       9.000         358   P           SFR             2     N
 94.97   B15/30                 $ 45,339.23   37.66   STD       10.000         177   S           SFR             2     N
 94.98   A2/6                   $149,344.70   41.61   FULL       8.840         357   I           SFR             1     N
 94.99   B15/30                 $ 32,314.06   41.17   FULL      12.200         176   P           CO              2     N
 95.00   A2/6 B30/40            $407,602.26   49.81   FULL       7.750         353   P           PUD             1     N
 95.00   A2/6 B30/40            $332,091.60   39.66   STD        9.825         354   P           SFR             1     N
 95.00   B15/30                 $ 62,650.40   45.35   STD       12.750         174   P           SFR             2     N
 95.00   A2/6                   $224,590.37   29.58   LIM        9.525         355   P           CO              1     N
 95.00   A2/6                   $ 59,228.22   38.30   STD        9.550         355   I           SFR             1     N
 95.00   IOA2/6                 $313,500.00   43.94   STD        9.600         356   P           SFR             1     N
 95.00   A2/6                   $188,692.88   47.87   FULL       9.750         356   P           SFR             1     N
 95.00   A2/6                   $269,067.12   13.60   FULL       7.990         356   P           SFR             1     N
 95.00   A2/6                   $293,840.20   38.15   FULL       7.500         357   P           SFR             1     N
 95.00   A2/6                   $161,051.34   24.92   FULL       8.990         355   P           SFR             1     N
 95.00   A2/6                   $251,185.99   42.74   FULL       7.500         357   P           SFR             1     N
 95.00   IOA2/6                 $218,500.00   43.28   STD        7.950         357   P           SFR             1     N
 95.00   A2/6 B30/40            $270,544.47   46.68   STD        8.450         357   P           SFR             1     N
 95.00   A2/6                   $379,477.23   25.96   STD        9.870         357   S           SFR             1     N
 95.00   IOA2/6                 $220,183.97   48.39   FULL       9.100         356   P           SFR             1     N
 95.00   F30                    $132,642.89   20.40   FULL       8.850         356   P           SFR             1     N
 95.00   A2/6 B30/40            $242,114.70   47.70   STD       10.450         356   P           SFR             1     N
 95.00   A2/6 B30/40            $246,747.48   41.50   FULL       8.450         356   P           SFR             1     N
 95.00   F30                    $126,138.72   26.42   FULL      10.325         356   P           SFR             1     N
 95.00   A2/6 B30/40            $303,744.97   52.99   FULL       9.100         356   P           SFR             1     N
 95.00   IOA2/6                 $398,050.00   41.36   FULL       7.125         356   P           PUD             1     N
 95.00   A2/6 B30/40            $132,874.57   47.31   FULL       7.700         357   P           SFR             1     N
 95.00   F30                    $142,150.96   38.45   FULL       8.500         356   P           SFR             1     N
 95.00   A2/6 B30/40            $403,477.48   43.54   STD        8.850         357   P           SFR             1     N
 95.00   A2/6 B30/40            $336,945.37   49.18   FULL       7.850         357   P           CO              1     N
 95.00   A2/6                   $341,597.43   40.14   STD       10.600         357   P           SFR             1     N
 95.00   IOA2/6                 $342,000.00   41.03   STD        8.999         357   S           SFR             1     N
 95.00   A2/6                   $198,645.36   46.94   FULL       8.840         356   I           TH              1     N
 95.00   A3/6 B30/40            $155,625.29   49.76   FULL       9.990         357   P           SFR             1     N
 95.00   A3/6 B30/40            $108,258.83   54.84   FULL      10.750         357   P           SFR             1     N
 95.00   A2/6                   $355,505.02   28.07   FULL       9.265         356   P           SFR             1     N
 95.00   IOA2/6                 $103,550.00   17.52   LIM        9.750         356   I           SFR             1     N
 95.00   F30                    $ 93,624.55   43.70   STD       10.000         357   P           SFR             2     N
 95.00   A2/6                   $ 60,675.74   37.73   STD       10.450         355   P           CO              1     N
 95.00   B15/30                 $ 24,718.52   54.87   FULL      11.590         176   P           SFR             2     N
 95.00   F30                    $ 94,778.95   35.10   FULL       8.750         356   P           SFR             1     N
 95.00   A3/6                   $191,497.45   48.27   STD        9.250         356   P           3F              1     N
 95.00   A2/6                   $153,650.63   48.90   FULL       9.090         357   I           SFR             1     N
 95.00   A3/6                   $ 61,659.87   41.88   FULL       9.590         357   P           2F              1     N
 95.00   A2/6                   $180,213.53   49.69   STD        9.190         357   I           SFR             1     N
 95.00   F30                    $109,060.06   22.49   FULL       8.750         357   P           SFR             1     N
 95.00   B30/40                 $270,561.79   49.69   LIM        8.750         357   P           SFR             1     N
 95.00   F30                    $119,577.62   44.40   STD       11.250         357   P           SFR             1     N
 95.00   F30                    $102,421.63   47.48   FULL       8.750         357   P           SFR             1     N
 95.00   B15/30                 $ 45,715.33   43.55   STD       10.740         178   P           TH              2     N
 95.00   A2/6                   $204,023.22   49.56   FULL       8.940         358   I           2F              1     N
 95.00   A3/6                   $175,612.40   44.49   FULL      10.590         358   P           SFR             1     N
 95.00   F30                    $ 41,975.26   41.34   FULL      11.890         358   P           SFR             2     N
 95.00   A2/6                   $107,250.27   47.75   STD        9.790         358   I           SFR             1     N
 95.00   A2/6 B30/40            $223,123.95   42.71   STD        9.450         357   P           SFR             1     N
 95.00   A2/6                   $158,512.01   47.85   STD       10.100         358   I           CO              1     N
 95.00   IOA3/6                 $270,750.00   45.29   STD        9.550         357   P           TH              1     N
 95.00   A3/6                   $128,141.74   50.00   FULL      10.240         358   P           SFR             1     N
 95.00   A3/6                   $379,354.47   20.50   LIM       10.990         356   P           SFR             1     N
 95.00   A3/6                   $108,177.23   41.80   FULL       8.840         358   I           SFR             1     N
 95.00   A3/6 B30/40            $237,358.46   52.67   FULL       7.875         358   P           SFR             1     N
 95.00   B30/40                 $142,400.95   51.05   FULL       8.750         357   P           SFR             1     N
 95.00   A2/6                   $434,720.78   50.09   STD       10.090         358   I           SFR             1     N
 95.00   A3/6                   $121,448.97   33.83   FULL      10.350         357   P           SFR             1     N
 95.00   A2/6                   $226,583.80   49.92   STD        9.045         357   S           PUD             1     N
 95.00   A2/6 B30/40            $322,845.27   45.72   FULL       8.625         358   P           SFR             1     N
 95.00   A2/6                   $284,067.49   43.36   STD        8.190         355   P           SFR             1     N
 95.00   A3/6                   $ 66,540.11   50.55   FULL      10.350         358   P           SFR             1     N
 95.00   A3/6                   $104,358.37   54.92   FULL       9.940         357   P           SFR             1     Y
 95.00   A3/6                   $160,414.77   54.09   FULL      10.250         358   P           SFR             1     Y
 95.00   A2/6                   $151,832.98   29.96   LIM        8.990         358   I           SFR             1     N
 95.00   A2/6 B30/40            $465,322.82   53.89   FULL       9.400         358   I           SFR             1     N
 95.00   A2/6 B30/40            $122,517.01   53.45   FULL      10.540         358   P           SFR             1     Y
 95.00   A3/6                   $298,509.45   35.55   FULL       7.400         357   P           SFR             1     N
 95.00   A3/6                   $123,341.96   44.09   STD        8.250         358   P           SFR             1     N
 95.00   B15/30                 $ 70,156.38   45.06   STD       11.650         178   P           SFR             2     N
 95.00   B15/30                 $ 56,498.19   44.68   STD       11.750         177   S           SFR             2     N
 95.00   A3/6                   $ 73,045.68   12.59   STD        9.700         357   P           SFR             1     N
 95.00   A2/6                   $ 61,684.36   37.19   FULL       9.150         358   P           SFR             1     N
 95.00   A2/6                   $133,800.03   38.48   FULL       8.900         358   P           SFR             1     N
 95.00   A2/6 B30/40            $146,757.39   41.25   FULL      10.900         359   P           SFR             1     N
 95.00   B30/40                 $163,366.28   50.38   FULL      11.400         358   P           SFR             1     Y
 95.00   A2/6                   $ 75,917.52   40.09   FULL       9.050         358   P           SFR             1     N
 95.00   A2/6                   $ 97,765.80   45.12   FULL      10.150         358   P           SFR             1     N
 95.00   IOA2/6                 $643,473.00   43.25   FULL       8.675         358   P           2F              1     N
 95.00   A2/6 B30/40            $136,184.72   48.49   FULL       9.850         358   P           SFR             1     N
 95.00   F25                    $ 72,026.78   43.25   FULL       7.200         298   P           SFR             1     N
 95.00   A2/6                   $127,129.45   41.40   FULL       8.025         358   P           SFR             1     N
 95.00   B30/40                 $164,261.48   40.72   FULL       8.225         358   P           SFR             1     N
 95.00   F30                    $171,708.93   41.88   FULL       7.800         358   P           SFR             1     N
 95.00   F30                    $158,435.94   46.68   FULL       7.990         358   P           SFR             1     N
 95.00   A2/6                   $141,991.01   49.79   FULL       9.900         358   P           SFR             1     N
 95.00   B30/40                 $ 71,215.61   23.58   FULL       8.600         358   P           SFR             1     N
 95.00   A2/6                   $399,548.70   17.37   STD        9.425         358   I           SFR             1     N
 95.00   A2/6                   $ 91,972.34   42.61   FULL       9.950         358   I           SFR             1     N
 95.00   A2/6                   $208,816.59   45.46   STD       10.058         358   P           SFR             1     N
 95.00   A2/6                   $244,986.66   40.55   STD       12.975         358   I           SFR             1     N
 95.00   A2/6                   $113,400.51   37.09   FULL       9.000         358   I           SFR             1     N
 95.00   A2/6                   $128,119.59   23.42   FULL      11.275         357   P           SFR             1     N
 95.00   A2/6                   $259,224.00   45.91   FULL       7.550         357   I           SFR             1     N
 95.00   A2/6                   $170,706.23   45.65   FULL       8.850         357   P           SFR             1     N
 95.00   A2/6                   $ 40,785.96   40.16   FULL       9.250         357   I           SFR             1     N
 95.00   A2/6                   $ 40,694.35   37.55   FULL       9.500         357   I           SFR             1     N
 95.00   A2/6                   $ 73,058.17   45.33   FULL      10.300         357   P           SFR             1     N
 95.00   IOA2/6                 $198,075.00   52.07   LIM        9.650         357   I           SFR             1     N
 95.00   A2/6                   $122,064.68   51.19   FULL      10.550         357   P           SFR             1     N
 95.00   A2/6                   $ 73,500.24   26.42   FULL       8.875         357   I           CO              1     N
 95.00   A2/6                   $ 56,905.88   41.88   FULL       9.000         357   I           SFR             1     N
 95.00   A2/6                   $113,853.01   50.84   FULL      10.175         357   I           SFR             1     N
 95.00   A2/6                   $165,927.55   49.59   STD        9.625         356   P           SFR             1     N
 95.00   A2/6                   $170,671.55   45.03   FULL       9.675         356   I           SFR             1     N
 95.00   A2/6                   $ 70,999.36   46.17   FULL       9.050         356   S           SFR             1     N
 95.00   A2/6                   $ 89,446.00   23.78   STD        9.675         356   P           SFR             1     N
 95.00   A2/6                   $ 55,023.07   49.57   FULL       9.800         357   P           SFR             1     N
 95.00   B15/30                 $ 49,305.98   35.72   STD       10.750         170   P           SFR             2     N
 95.00   F30                    $402,923.55   47.92   STD        7.950         357   P           SFR             1     N
 95.00   A2/6                   $332,116.00   48.02   STD        8.750         358   P           SFR             1     N
 95.00   A2/6 B30/40            $212,186.12   45.44   FULL       7.550         358   P           SFR             1     N
 95.00   A2/6                   $122,415.32   27.03   FULL       8.990         358   P           SFR             1     N
 95.00   IOA2/6                 $280,250.00   48.62   FULL       7.650         358   P           PUD             1     N
 95.00   A2/6 B30/40            $104,446.53   20.10   FULL       8.400         358   P           SFR             1     N
 95.00   A2/6 B30/40            $275,415.18   32.57   FULL       7.750         359   P           SFR             1     N
 95.00   A2/6 B30/40            $237,154.79   48.80   FULL       7.200         356   P           SFR             1     N
 95.00   A2/6 B30/40            $280,155.43   53.19   STD        9.800         358   I           CO              1     N
 95.00   A2/6 B30/40            $216,412.08   45.30   FULL       7.990         357   P           SFR             1     N
 95.00   A2/6 B30/40            $246,935.62   46.49   FULL       8.325         359   P           SFR             1     N
 95.00   A2/6 B30/40            $204,201.60   49.23   FULL       8.650         359   I           CO              1     N
 95.00   A2/6 B30/40            $265,851.46   48.24   FULL       8.100         358   P           PUD             1     N
 95.00   A2/6                   $150,931.99   42.38   STD       10.600         358   I           SFR             1     N
 95.00   A2/6 B30/40            $498,589.19   43.46   STD        9.950         358   P           3F              1     N
 95.00   A2/6                   $229,731.68   42.36   STD       10.900         358   I           SFR             1     N
 95.00   A2/6                   $ 57,880.97    8.42   FULL       8.600         358   P           2F              1     N
 95.00   IOA2/6                 $432,250.00   48.85   STD        9.650         358   P           SFR             1     N
 95.00   A2/6 B30/40            $265,839.34   49.25   FULL       9.225         357   I           2F              1     N
 95.00   A2/6 B30/40            $261,147.54   33.63   FULL       9.300         358   P           SFR             1     N
 95.00   A2/6                   $389,071.99   47.13   STD        8.990         358   I           SFR             1     N
 95.00   A2/6                   $264,335.07   44.08   FULL       8.025         356   P           SFR             1     N
 95.00   A2/6 B30/40            $200,207.46   46.65   FULL       8.050         359   P           SFR             1     N
 95.00   A2/6                   $104,404.13   37.93   STD        9.850         358   I           SFR             1     N
 95.00   IOA2/6                 $460,750.00   39.07   FULL       8.250         355   P           PUD             1     N
 95.00   IOA2/6                 $266,000.00   47.61   FULL       7.950         358   P           3F              1     N
 95.00   A2/6 B30/40            $ 80,730.00   28.37   FULL       8.500         359   P           SFR             1     N
 95.00   A2/6                   $246,809.09   40.63   STD       10.650         358   I           SFR             1     N
 95.00   A2/6 B30/40            $199,380.25   48.32   FULL       7.850         358   P           SFR             1     N
 95.00   A2/6 B30/40            $389,085.51   52.47   FULL       7.275         357   S           SFR             1     N
 95.00   A2/6 B30/40            $294,430.22   39.71   FULL       8.650         359   P           SFR             1     N
 95.00   A2/6                   $ 98,645.37   44.34   FULL       7.250         358   P           SFR             1     N
 95.00   A2/6                   $106,286.62   29.67   STD        9.138         358   P           SFR             1     N
 95.00   A2/6 B30/40            $360,866.65   26.33   FULL       9.500         358   P           SFR             1     N
 95.00   A3/6 B30/40            $223,134.18   54.07   STD       10.050         358   P           SFR             1     N
 95.00   A2/6 B30/40            $165,212.89   48.77   FULL       8.300         358   P           SFR             1     N
 95.00   A2/6 B30/40            $101,631.30   46.12   FULL       9.500         359   I           SFR             1     N
 95.00   A2/6 B30/40            $147,168.68   48.15   FULL       9.525         357   P           CO              1     N
 95.00   A2/6 B30/40            $474,909.95   28.04   FULL       9.400         359   I           SFR             1     N
 95.00   A2/6 B30/40            $124,423.01   24.14   FULL       8.950         359   P           SFR             1     N
 95.00   A2/6 B30/40            $ 70,291.82   35.63   STD       11.000         359   S           SFR             1     N
 95.00   A2/6 B30/40            $394,033.01   48.83   FULL       8.150         358   P           SFR             1     N
 95.00   A2/6 B30/40            $351,327.97   49.27   STD        9.925         357   S           SFR             1     N
 95.00   A2/6                   $289,428.95   42.22   STD        8.950         358   P           SFR             1     Y
 95.00   A2/6                   $234,420.66   39.63   STD        9.550         358   P           SFR             1     N
 95.00   A2/6                   $218,342.65   45.83   STD        7.650         359   P           SFR             1     N
 95.00   IOA2/6                 $275,500.00   43.44   FULL       8.200         359   P           SFR             1     N
 95.88   A2/6                   $162,742.37   29.85   FULL       7.200         358   P           SFR             1     N
 95.93   A3/6                   $564,288.68   43.00   FULL       8.330         358   P           SFR             1     N
 96.90   F30                    $140,255.74   44.63   STD        8.750         357   P           SFR             1     N
 97.00   A2/6                   $129,671.32   46.84   FULL       8.650         356   P           CO              1     N
 97.00   F30                    $130,798.78   46.29   FULL       8.750         358   P           SFR             1     N
 97.16   B15/30                 $ 63,431.29   40.19   FULL      10.990         177   P           CO              2     N
 98.93   F30                    $184,588.82   42.49   FULL       7.540         357   P           SFR             1     N
 98.96   A2/6 B30/40            $285,796.30   48.13   FULL       7.250         358   P           SFR             1     N
 99.00   F30                    $ 62,590.59   53.90   FULL      10.125         356   P           CO              2     N
 99.00   B15/30                 $ 98,833.89   47.69   FULL      11.390         175   P           SFR             2     N
 99.60   A2/6                   $251,651.86   32.85   STD        9.850         357   P           SFR             1     N
 99.82   F30                    $ 54,956.28   49.81   STD       12.390         357   P           SFR             2     N
 99.85   B15/30                 $ 58,892.93   39.72   STD       12.840         176   P           3F              2     N
 99.94   B15/30                 $ 33,569.84   44.95   STD        9.950         178   P           SFR             2     N
 99.95   F30                    $ 37,532.48   44.98   FULL       9.990         356   P           SFR             2     N
 99.95   A3/6                   $ 72,243.16   46.27   STD       12.440         357   P           SFR             1     N
 99.95   B15/30                 $ 19,177.95   53.63   LIM       12.050         176   P           SFR             2     N
 99.95   B15/30                 $ 21,102.67   42.93   STD        9.950         177   P           SFR             2     N
 99.95   F30                    $ 19,132.80   48.58   STD        9.950         358   P           SFR             2     N
 99.96   F30                    $ 25,418.00   22.06   FULL      11.640         356   P           SFR             2     N
 99.96   B15/30                 $ 55,351.88   49.99   STD       11.990         177   P           SFR             2     N
 99.96   B15/30                 $ 27,114.75   41.80   STD       10.140         177   P           SFR             2     N
 99.96   B15/30                 $ 40,816.79   48.68   STD       12.290         177   P           SFR             2     N
 99.96   F30                    $ 23,528.85   46.60   STD        9.950         358   P           SFR             2     N
 99.97   F30                    $ 73,260.66   32.30   FULL      10.240         348   P           SFR             1     N
 99.97   B15/30                 $ 35,894.99   42.70   LIM       10.740         176   P           SFR             2     N
 99.97   B15/30                 $ 32,376.23   29.49   FULL      10.890         178   P           SFR             2     N
 99.97   F30                    $ 23,667.94   44.75   STD        9.950         357   P           SFR             2     N
 99.98   F30                    $ 24,504.58   43.00   STD        9.850         356   P           SFR             2     N
 99.98   B15/30                 $ 99,666.28   49.98   STD       11.350         176   P           SFR             2     N
 99.98   B15/30                 $ 48,518.46   49.20   STD       13.290         177   P           SFR             2     N
 99.98   B15/30                 $ 35,277.58   44.73   STD       13.390         177   P           TH              2     N
 99.98   B15/30                 $ 48,133.96   45.69   FULL       9.890         177   P           SFR             2     N
 99.98   B15/30                 $ 45,925.76   47.55   STD       12.390         178   P           SFR             2     N
 99.98   F20                    $ 42,096.64   49.45   STD       10.590         238   P           SFR             2     N
 99.98   B15/30                 $ 48,466.29   48.84   STD       12.990         177   P           SFR             2     N
 99.98   B15/30                 $ 44,823.34   46.57   STD       11.850         178   P           SFR             2     N
 99.99   B15/30                 $168,536.01   41.48   STD       10.890         175   P           SFR             2     N
 99.99   B15/30                 $ 79,807.65   51.08   FULL      11.090         175   P           SFR             2     N
 99.99   B15/30                 $ 29,909.49   42.24   STD        9.950         177   P           SFR             2     N
100.00   B15/30                 $ 88,574.11   36.22   FULL       9.300         171   P           PUD             2     N
100.00   F20                    $ 29,209.36   36.03   FULL      11.700         231   P           CO              2     N
100.00   B15/30                 $ 74,768.39   46.38   STD       11.350         171   P           SFR             2     N
100.00   A2/6                   $157,980.69   44.09   FULL       8.950         352   P           SFR             1     N
100.00   B15/30                 $ 99,462.63   39.79   STD       10.875         169   P           PUD             2     N
100.00   B15/30                 $ 85,718.03   29.97   STD       10.500         172   P           PUD             2     N
100.00   B15/30                 $ 59,856.75   47.18   STD       13.300         172   P           SFR             2     N
100.00   B15/30                 $ 61,862.42   42.12   STD       12.300         172   P           SFR             2     N
100.00   B15/30                 $ 74,679.72   38.87   FULL       9.825         171   P           SFR             2     N
100.00   B15/30                 $ 35,878.89   33.81   FULL      10.425         173   P           CO              2     N
100.00   B15/30                 $101,723.31   42.62   STD       10.740         173   P           PUD             2     N
100.00   B15/30                 $ 48,042.61   37.86   STD       12.900         173   P           SFR             2     N
100.00   B15/30                 $102,094.82   40.20   FULL      10.300         173   P           SFR             2     N
100.00   B15/30                 $ 17,918.05   24.01   STD       10.990         173   P           SFR             2     N
100.00   B15/30                 $ 53,141.23   39.45   STD       11.375         172   P           SFR             2     N
100.00   B15/30                 $ 63,245.16   42.30   STD       10.490         174   P           SFR             2     N
100.00   B15/30                 $ 85,798.49   40.49   FULL      13.425         172   P           PUD             2     N
100.00   B15/30                 $ 81,812.59   46.76   FULL      10.800         174   P           SFR             2     N
100.00   B15/30                 $117,814.05   29.78   FULL      12.500         174   P           SFR             2     N
100.00   A2/6                   $144,400.44   23.98   STD        7.950         354   P           SFR             1     N
100.00   A2/6 B30/40            $639,285.31   42.38   FULL       8.900         355   P           SFR             1     N
100.00   B15/30                 $ 36,919.87   48.13   STD       11.050         174   P           PUD             2     N
100.00   B15/30                 $150,143.87   50.48   FULL      12.150         174   P           SFR             2     N
100.00   B15/30                 $100,432.45   42.10   STD       12.250         174   P           CO              2     N
100.00   B15/30                 $ 45,881.23   37.28   STD       11.750         175   P           PUD             2     N
100.00   B15/30                 $158,767.43   46.82   FULL      11.990         175   P           SFR             2     N
100.00   B15/30                 $ 89,866.45   36.89   STD       11.925         175   P           SFR             2     N
100.00   B15/30                 $130,629.65   36.27   FULL       9.800         174   P           SFR             2     N
100.00   F30                    $ 72,896.72   38.78   STD       12.990         354   P           SFR             2     N
100.00   F30                    $ 26,941.07   31.86   FULL      11.750         353   P           SFR             2     N
100.00   F30                    $ 74,491.20   43.15   STD        9.990         353   P           SFR             2     N
100.00   F30                    $ 26,890.59   38.45   STD        9.800         353   P           PUD             2     N
100.00   F15                    $ 20,683.95   37.76   FULL       9.800         174   P           SFR             2     N
100.00   F30                    $125,796.93   40.99   STD       12.400         354   P           SFR             2     N
100.00   F30                    $ 66,852.96   39.90   STD       10.990         354   P           PUD             2     N
100.00   F30                    $121,796.74   29.76   STD       12.250         354   P           SFR             2     N
100.00   F30                    $109,773.17   39.85   STD       11.750         355   P           SFR             2     N
100.00   F30                    $ 22,444.02   45.60   FULL      10.850         355   P           SFR             2     N
100.00   F30                    $ 45,291.80   36.53   FULL      11.550         354   S           SFR             2     N
100.00   A2/6                   $220,442.01   44.03   STD        9.450         355   P           SFR             1     N
100.00   B15/30                 $ 74,917.58   46.14   STD       12.250         176   P           SFR             2     N
100.00   B15/30                 $ 73,923.60   42.28   STD       13.550         175   P           SFR             2     N
100.00   B15/30                 $ 29,553.10   48.54   FULL      11.625         175   P           CO              2     N
100.00   B15/30                 $ 36,964.34   53.62   STD       13.850         175   P           2F              2     N
100.00   B15/30                 $124,817.18   49.77   STD       11.990         175   P           SFR             2     N
100.00   A2/6                   $233,349.93   45.85   STD        8.990         355   P           SFR             1     N
100.00   B15/30                 $127,401.06   47.07   STD       11.700         175   P           SFR             2     N
100.00   B15/30                 $ 47,330.66   47.52   STD       11.990         175   P           SFR             2     N
100.00   B15/30                 $ 54,910.41   37.61   STD       11.500         175   P           SFR             2     N
100.00   B15/30                 $112,843.95   49.69   STD       12.250         175   P           SFR             2     N
100.00   B15/30                 $141,792.28   28.09   FULL      11.990         175   P           SFR             2     N
100.00   B15/30                 $ 81,870.73   49.34   STD       11.650         175   P           SFR             2     N
100.00   B15/30                 $107,721.32   41.50   STD       11.150         175   P           SFR             2     N
100.00   F30                    $104,825.10   48.90   STD       12.250         354   P           SFR             2     N
100.00   F30                    $ 61,896.70   44.41   STD       12.250         354   P           SFR             2     N
100.00   F30                    $ 22,326.62   49.46   FULL       9.990         355   P           PUD             2     N
100.00   F30                    $ 51,915.90   45.63   STD       10.000         354   P           PUD             2     N
100.00   F30                    $ 27,485.12   49.16   FULL       9.990         354   P           SFR             2     N
100.00   F30                    $ 42,905.87   37.37   FULL      11.000         354   P           SFR             2     N
100.00   A2/6                   $ 59,862.11   26.32   FULL      10.775         354   P           SFR             1     N
100.00   F30                    $ 31,544.25   39.50   FULL      11.990         354   P           SFR             2     N
100.00   F30                    $ 66,959.28   33.40   FULL      11.750         354   P           SFR             2     N
100.00   B15/30                 $ 61,748.70   43.55   STD       12.150         175   P           2F              2     N
100.00   B15/30                 $ 37,766.33   44.93   LIM       12.125         175   P           PUD             2     N
100.00   B15/30                 $149,699.60   42.23   LIM       10.545         175   P           SFR             2     N
100.00   B15/30                 $ 43,546.12   45.98   LIM       12.750         175   P           PUD             2     N
100.00   B15/30                 $ 26,565.24   38.01   LIM       12.500         175   P           SFR             2     N
100.00   B15/30                 $ 76,919.61   46.25   LIM       13.500         175   P           SFR             2     N
100.00   B15/30                 $ 25,967.23   23.64   LIM       13.500         174   P           SFR             2     N
100.00   B15/30                 $ 46,933.77   47.77   LIM       13.000         174   P           CO              2     N
100.00   B15/30                 $ 35,934.61   47.14   LIM       11.000         175   P           SFR             2     N
100.00   B15/30                 $ 43,954.08   45.14   LIM       13.500         175   P           SFR             2     N
100.00   B15/30                 $ 51,911.67   44.70   LIM       10.250         176   P           SFR             2     N
100.00   B15/30                 $ 29,759.18   30.13   LIM       11.250         176   P           CO              2     N
100.00   B15/30                 $ 31,961.89   46.43   LIM       13.750         174   P           CO              2     N
100.00   A2/6                   $ 90,848.68   47.94   FULL      10.350         356   P           SFR             1     N
100.00   B15/30                 $132,771.23    1.78   FULL      11.250         175   P           PUD             2     N
100.00   B15/30                 $151,728.54   42.75   FULL      10.015         176   P           SFR             2     N
100.00   B15/30                 $104,884.59   44.33   STD       12.250         176   P           SFR             2     N
100.00   B15/30                 $ 60,928.99   49.92   STD       11.990         176   P           SFR             2     N
100.00   B15/30                 $ 81,902.59   50.18   STD       11.900         176   P           PUD             2     N
100.00   B15/30                 $ 71,049.69   43.20   STD       11.400         176   P           SFR             2     N
100.00   A2/6 B30/40            $109,880.39   51.68   FULL       8.990         355   P           SFR             1     N
100.00   B15/30                 $120,259.83   45.97   FULL      11.990         176   P           SFR             2     N
100.00   B15/30                 $ 73,277.80   46.78   STD       11.400         175   P           CO              2     N
100.00   B15/30                 $ 62,930.77   39.07   LIM       12.250         176   P           SFR             2     N
100.00   B15/30                 $108,382.07   43.23   FULL      12.300         176   P           SFR             2     N
100.00   B15/30                 $ 62,916.50   44.39   STD       11.400         176   P           SFR             2     N
100.00   B15/30                 $171,691.82   41.33   FULL      10.000         176   P           SFR             2     N
100.00   B15/30                 $ 78,913.16   48.95   LIM       12.250         176   P           CO              2     N
100.00   B15/30                 $ 36,260.31   38.93   STD       12.275         176   P           2F              2     N
100.00   B15/30                 $136,840.50   47.31   STD       11.990         176   P           SFR             2     N
100.00   B15/30                 $ 32,364.38   44.46   LIM       12.250         176   P           SFR             2     N
100.00   B15/30                 $118,889.12   48.54   STD       12.990         176   P           SFR             2     N
100.00   B15/30                 $ 29,370.32   48.72   FULL      12.630         176   P           CO              2     N
100.00   B15/30                 $113,818.34   21.17   LIM       10.550         176   P           SFR             2     N
100.00   B15/30                 $ 43,542.22   54.35   FULL      11.400         176   P           SFR             2     N
100.00   B15/30                 $194,689.28   43.77   STD       10.550         176   P           SFR             2     N
100.00   B15/30                 $ 69,128.54   44.91   FULL      12.530         176   P           SFR             2     N
100.00   F30                    $ 22,551.15   30.15   STD       12.600         355   P           SFR             2     N
100.00   F30                    $ 22,329.62   50.55   FULL       8.500         355   P           SFR             2     N
100.00   F30                    $ 23,874.06   49.99   FULL       9.990         355   P           SFR             2     N
100.00   F30                    $ 24,969.71   46.39   FULL      12.840         355   P           SFR             2     N
100.00   F30                    $106,372.66   42.88   FULL      10.250         355   P           SFR             2     N
100.00   F30                    $ 36,118.43   35.74   FULL       9.990         355   P           PUD             2     N
100.00   F30                    $ 92,818.82   49.41   STD       12.250         355   P           SFR             2     N
100.00   F30                    $ 15,185.85   39.12   STD       12.990         356   P           SFR             2     N
100.00   F20                    $ 30,872.59   49.53   STD       11.990         236   P           SFR             2     N
100.00   F30                    $ 99,868.59   52.96   STD       11.440         356   P           3F              2     N
100.00   B15/30                 $ 61,457.85   49.04   STD       10.840         176   P           TH              2     N
100.00   B15/30                 $109,036.69   41.94   STD       11.890         175   P           SFR             2     N
100.00   B15/30                 $ 59,339.62   48.72   STD       12.600         176   P           SFR             2     N
100.00   B15/30                 $115,879.38   49.52   STD       12.500         176   P           SFR             2     N
100.00   B15/30                 $ 28,348.57   51.61   FULL       9.950         176   P           SFR             2     N
100.00   F30                    $ 79,578.56   56.99   FULL      10.250         356   P           SFR             2     N
100.00   B15/30                 $100,013.68   44.32   STD       10.890         175   P           SFR             2     N
100.00   B15/30                 $ 68,914.18   47.26   STD       11.690         176   P           SFR             2     N
100.00   B15/30                 $ 39,885.33   18.66   FULL      10.790         175   P           SFR             2     N
100.00   B15/30                 $ 85,888.25   42.32   STD       11.490         176   P           SFR             2     N
100.00   B15/30                 $ 93,683.30   47.94   STD       11.690         176   P           SFR             2     N
100.00   B15/30                 $ 81,900.22   45.38   STD       11.790         176   P           SFR             2     N
100.00   B15/30                 $ 44,944.63   43.33   STD       11.740         176   P           SFR             2     N
100.00   B15/30                 $114,790.74   36.72   STD       10.990         175   P           SFR             2     N
100.00   B15/30                 $ 79,195.04   49.74   STD       11.490         174   P           SFR             2     N
100.00   B15/30                 $ 95,601.69   41.91   FULL      10.390         175   P           SFR             2     N
100.00   B15/30                 $ 42,701.93   54.08   FULL      11.040         175   P           SFR             2     N
100.00   B15/30                 $105,653.50   46.30   FULL       9.890         175   P           2F              2     N
100.00   B15/30                 $ 54,897.74   43.18   STD       10.890         175   P           SFR             2     N
100.00   B15/30                 $ 50,309.30   53.31   FULL      11.040         175   P           SFR             2     N
100.00   B15/30                 $ 63,920.40   48.27   STD       11.690         176   P           SFR             2     N
100.00   B15/30                 $ 92,884.31   45.16   STD       11.690         176   P           SFR             2     N
100.00   B30/40                 $199,850.19   46.74   FULL       9.500         356   P           SFR             1     N
100.00   B15/30                 $ 39,911.61   45.91   STD       11.690         173   P           SFR             2     N
100.00   F30                    $ 42,954.81   38.15   STD       11.125         357   P           SFR             2     N
100.00   B15/30                 $ 24,333.29   41.11   FULL      10.750         175   P           SFR             2     N
100.00   B15/30                 $ 48,221.33   31.25   STD       11.500         175   P           SFR             2     N
100.00   B15/30                 $ 61,872.50   43.61   STD       11.750         175   P           SFR             2     N
100.00   B15/30                 $ 80,463.24   35.85   FULL      10.990         176   P           CO              2     N
100.00   B15/30                 $ 48,743.32   38.35   STD       12.000         176   P           SFR             2     N
100.00   B15/30                 $ 27,864.49   42.75   STD       12.000         176   P           SFR             2     N
100.00   B15/30                 $ 73,798.80   44.92   FULL      11.250         176   P           SFR             2     N
100.00   B15/30                 $ 70,081.08   41.76   STD       11.990         176   P           SFR             2     N
100.00   B15/30                 $ 55,531.76   43.33   STD       11.750         176   P           SFR             2     N
100.00   F30                    $ 51,963.13   46.85   STD       12.900         357   P           SFR             2     N
100.00   A2/6                   $139,759.60   44.70   STD       10.200         356   P           PUD             1     N
100.00   A2/6                   $ 97,867.45   36.28   STD        9.950         357   P           CO              1     N
100.00   B15/30                 $ 24,983.04   45.30   FULL      13.100         177   P           SFR             2     N
100.00   B15/30                 $ 63,535.34   47.14   STD       11.275         177   P           SFR             2     N
100.00   B15/30                 $145,524.76   42.06   STD       10.500         177   P           SFR             2     N
100.00   B15/30                 $ 71,926.78   33.99   STD       11.275         177   P           CO              2     N
100.00   B15/30                 $ 57,913.93   30.14   STD       10.750         177   P           SFR             2     N
100.00   B15/30                 $ 80,878.77   48.39   STD       12.000         177   P           SFR             2     N
100.00   A2/6                   $129,766.54   37.05   STD        9.990         356   P           SFR             1     N
100.00   A2/6                   $177,556.71   40.39   FULL       9.650         356   P           SFR             1     N
100.00   B15/30                 $ 56,330.70   30.25   STD       10.400         177   P           SFR             2     N
100.00   A2/6                   $ 79,853.58   46.35   STD        8.500         357   P           SFR             1     N
100.00   A3/6                   $154,809.55   47.22   FULL      10.400         357   P           SFR             1     N
100.00   B15/30                 $ 53,958.47   39.92   STD       12.540         177   P           4F              2     N
100.00   A3/6                   $209,762.74   48.43   FULL      10.790         357   P           SFR             1     N
100.00   B15/30                 $ 93,938.94   45.89   STD       13.290         177   P           SFR             2     N
100.00   B15/30                 $ 59,932.84   49.14   STD       13.190         175   P           CO              2     N
100.00   A3/6                   $ 88,852.77   14.11   FULL       8.990         357   S           SFR             1     N
100.00   F30                    $ 88,908.89   45.04   STD       12.570         356   P           2F              2     N
100.00   B15/30                 $ 59,730.53   48.76   STD       12.000         176   P           SFR             2     N
100.00   B15/30                 $ 59,968.61   47.49   STD       14.240         177   P           3F              2     N
100.00   F30                    $ 67,949.52   46.53   STD       13.990         356   P           3F              2     N
100.00   B15/30                 $ 93,843.18   49.37   STD       11.390         175   P           4F              2     N
100.00   B15/30                 $ 73,532.55   48.35   FULL      11.750         177   P           2F              2     N
100.00   B15/30                 $ 59,432.20   40.59   STD       10.750         177   P           SFR             2     N
100.00   B15/30                 $ 84,354.20   28.45   STD       11.125         172   P           SFR             2     N
100.00   F30                    $ 61,916.84   37.33   FULL       9.990         357   P           SFR             2     N
100.00   F30                    $ 92,359.50   52.32   FULL       9.400         357   P           SFR             1     N
100.00   B15/30                 $ 64,280.25   39.43   STD       10.890         175   P           SFR             2     N
100.00   B15/30                 $143,764.94   46.77   STD       11.490         175   P           SFR             2     N
100.00   B15/30                 $ 95,658.15   49.02   STD       10.890         176   P           SFR             2     N
100.00   B15/30                 $ 83,906.13   50.85   FULL      10.840         177   P           SFR             2     N
100.00   B15/30                 $ 77,225.82   49.07   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $120,459.26   48.07   LIM       10.640         177   P           SFR             2     N
100.00   B15/30                 $129,875.26   49.96   STD       11.540         177   P           CO              2     N
100.00   B15/30                 $119,884.87   41.95   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 66,873.03   43.96   STD       10.990         175   P           CO              2     N
100.00   B15/30                 $ 80,899.24   44.45   STD       11.690         176   P           SFR             2     N
100.00   B15/30                 $ 81,815.20   44.55   FULL       9.990         175   P           SFR             2     N
100.00   B15/30                 $ 70,270.94   47.90   FULL      11.390         176   P           SFR             2     N
100.00   B15/30                 $ 64,920.91   45.50   STD       11.790         176   P           SFR             2     N
100.00   B15/30                 $122,774.42   48.61   FULL       9.890         176   P           4F              2     N
100.00   B15/30                 $114,860.06   48.65   STD       11.790         176   P           3F              2     N
100.00   B15/30                 $113,897.60   45.84   STD       11.840         177   P           3F              2     N
100.00   B15/30                 $ 97,306.54   48.43   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 70,836.57   52.29   FULL       9.890         175   P           TH              2     N
100.00   B15/30                 $102,904.37   49.25   STD       11.690         177   P           SFR             2     N
100.00   F30                    $ 64,364.33   50.23   STD       13.990         357   P           SFR             2     N
100.00   F30                    $ 47,962.35   26.73   FULL      12.450         357   P           SFR             2     N
100.00   B15/30                 $ 59,945.32   32.34   STD       11.775         177   P           SFR             2     N
100.00   B15/30                 $ 92,713.14   38.71   STD       11.350         171   P           PUD             2     N
100.00   B15/30                 $ 91,823.67   51.53   STD       10.750         175   P           SFR             2     N
100.00   B15/30                 $115,830.31   48.82   STD       11.990         175   P           SFR             2     N
100.00   B15/30                 $121,821.92   48.30   STD       12.000         175   P           SFR             2     N
100.00   B15/30                 $ 92,686.07   48.36   STD       11.600         172   P           SFR             2     N
100.00   B15/30                 $ 58,618.39   41.64   STD       11.350         171   P           SFR             2     N
100.00   B15/30                 $ 95,691.37   44.35   STD       11.500         175   P           2F              2     N
100.00   F15                    $ 62,441.40   47.36   STD       11.500         173   P           SFR             2     N
100.00   B15/30                 $ 85,268.29   48.26   FULL      11.750         175   P           PUD             2     N
100.00   B15/30                 $ 44,871.61   42.08   FULL      11.150         172   P           SFR             2     N
100.00   B15/30                 $124,996.07   43.69   FULL      11.500         175   P           SFR             2     N
100.00   B15/30                 $132,624.69   40.08   STD       11.200         172   P           PUD             2     N
100.00   B15/30                 $ 63,480.69   48.43   STD       10.850         175   P           SFR             2     N
100.00   B15/30                 $ 85,838.68   44.11   STD       10.850         175   P           SFR             2     N
100.00   B15/30                 $ 30,314.39   45.57   STD       11.800         171   P           PUD             2     N
100.00   B15/30                 $ 77,733.20   48.38   LIM       10.300         172   P           SFR             2     N
100.00   B15/30                 $ 34,965.95   35.01   STD       12.800         176   P           SFR             2     N
100.00   B15/30                 $ 95,801.61   42.01   STD       11.275         176   P           2F              2     N
100.00   B15/30                 $101,475.95   43.91   STD       11.775         176   P           2F              2     N
100.00   B15/30                 $117,455.62   49.07   FULL      11.750         176   P           SFR             2     N
100.00   B15/30                 $172,832.56   46.55   STD       11.500         177   P           SFR             2     N
100.00   B15/30                 $ 67,432.49   47.34   FULL      11.350         177   P           SFR             2     N
100.00   B15/30                 $ 39,167.49   32.92   LIM       12.200         177   P           SFR             2     N
100.00   B15/30                 $ 46,940.36   47.78   LIM       10.250         177   P           SFR             2     N
100.00   B15/30                 $ 23,770.45   49.43   LIM       10.350         177   P           SFR             2     N
100.00   B15/30                 $ 29,972.22   41.14   LIM       11.700         177   P           SFR             2     N
100.00   B15/30                 $ 31,951.60   31.81   STD       13.440         173   P           SFR             2     N
100.00   F30                    $ 38,891.54   45.48   FULL      10.625         353   P           CO              2     N
100.00   F30                    $ 49,885.05   41.19   STD       12.375         353   P           SFR             2     N
100.00   B15/30                 $ 49,891.15   45.85   STD       11.790         173   P           SFR             2     N
100.00   B15/30                 $ 14,773.89   38.69   STD       11.990         174   P           SFR             2     N
100.00   B15/30                 $ 97,780.34   43.00   STD       10.890         174   P           SFR             2     N
100.00   F30                    $ 32,341.37   42.92   STD       11.875         354   P           SFR             2     N
100.00   F30                    $106,834.99   40.38   STD       11.750         355   P           SFR             2     N
100.00   B15/30                 $ 29,956.13   25.54   FULL      11.990         175   P           SFR             2     N
100.00   F30                    $ 22,717.59   45.33   STD        9.500         355   P           SFR             2     N
100.00   F15                    $ 81,146.18   42.40   STD       11.790         175   P           3F              2     N
100.00   B15/30                 $ 46,914.46   37.01   STD       10.990         175   P           SFR             2     N
100.00   F30                    $ 76,884.49   44.95   STD       11.875         355   P           SFR             2     N
100.00   B15/30                 $ 38,340.00   40.11   STD       11.690         175   P           SFR             2     N
100.00   B15/30                 $ 52,917.20   48.72   STD       11.690         175   P           SFR             2     N
100.00   B15/30                 $ 31,937.21   45.89   STD       10.640         175   P           SFR             2     N
100.00   F30                    $ 30,164.73   46.47   STD       13.000         355   P           SFR             2     N
100.00   B15/30                 $ 57,732.71   49.81   STD       11.990         176   P           SFR             2     N
100.00   B15/30                 $ 70,273.59   50.66   FULL       9.990         176   P           SFR             2     N
100.00   B15/30                 $ 34,952.46   43.13   FULL      11.290         176   P           SFR             2     N
100.00   B15/30                 $ 58,909.76   43.56   STD       10.740         176   P           SFR             2     N
100.00   B15/30                 $102,896.18   50.36   STD       12.640         176   P           3F              2     N
100.00   B15/30                 $ 63,829.29   50.43   STD       11.990         176   P           SFR             2     N
100.00   B15/30                 $ 36,967.03   40.19   STD       13.190         176   P           SFR             2     N
100.00   F30                    $ 27,763.87   30.29   FULL      11.490         356   P           SFR             2     N
100.00   B15/30                 $ 36,967.78   30.75   STD       13.290         176   P           SFR             2     N
100.00   B15/30                 $ 72,928.21   52.72   STD       12.750         176   P           SFR             2     N
100.00   B15/30                 $ 75,915.05   47.00   STD       12.175         176   P           3F              2     N
100.00   B15/30                 $ 51,932.44   50.50   STD       11.490         176   P           SFR             2     N
100.00   F30                    $ 45,756.07   38.43   STD       12.890         356   P           SFR             2     N
100.00   F30                    $ 49,949.60   50.38   STD       12.640         356   P           SFR             2     N
100.00   B15/30                 $ 67,483.68   41.92   STD       10.190         176   P           SFR             2     N
100.00   B15/30                 $ 37,929.73   37.86   STD        9.850         176   P           SFR             2     N
100.00   B15/30                 $ 34,957.40   42.47   STD       11.790         176   P           SFR             2     N
100.00   F30                    $119,621.05   24.95   FULL       8.750         356   P           SFR             1     N
100.00   B15/30                 $ 42,972.08   43.69   STD       13.290         177   P           SFR             2     N
100.00   F30                    $ 32,778.71   47.03   STD       13.290         357   P           TH              2     N
100.00   B15/30                 $ 54,964.28   40.03   STD       13.290         177   P           SFR             2     N
100.00   F30                    $ 26,382.86   33.53   STD       13.290         357   P           SFR             2     N
100.00   B15/30                 $ 45,968.74   47.61   STD       13.090         177   P           SFR             2     N
100.00   B15/30                 $ 95,904.81   48.51   FULL      11.390         177   P           CO              2     N
100.00   B15/30                 $ 31,165.52   48.86   FULL      10.890         177   P           SFR             2     N
100.00   B15/30                 $ 52,336.85   42.73   FULL      10.490         177   P           SFR             2     N
100.00   B15/30                 $ 70,322.99   49.96   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 34,975.66   37.02   STD       12.990         177   P           SFR             2     N
100.00   B15/30                 $ 40,573.63   48.09   STD       13.290         177   P           SFR             2     N
100.00   B15/30                 $ 40,964.36   49.88   STD       11.990         177   P           SFR             2     N
100.00   B15/30                 $ 46,953.39   50.72   FULL      11.390         177   P           SFR             2     N
100.00   B15/30                 $ 50,367.27   48.07   STD       13.290         177   P           SFR             2     N
100.00   B15/30                 $ 71,921.26   37.33   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 31,968.61   34.30   STD       11.440         177   P           CO              2     N
100.00   B15/30                 $ 61,929.20   39.76   STD       10.740         177   P           SFR             2     N
100.00   F30                    $ 16,781.83   34.98   STD       10.990         357   P           SFR             2     N
100.00   F30                    $ 47,937.10   43.18   STD       10.100         357   P           SFR             2     N
100.00   A3/6                   $107,867.01   44.22   FULL      10.390         357   P           SFR             1     N
100.00   F20                    $ 36,905.47   38.18   STD       13.340         237   P           SFR             2     N
100.00   F30                    $105,917.78   46.60   STD       12.500         357   P           SFR             2     N
100.00   B15/30                 $ 34,976.23   40.39   STD       13.090         177   P           SFR             2     N
100.00   B15/30                 $ 16,581.45   45.60   STD       10.840         177   P           SFR             2     N
100.00   B15/30                 $ 38,373.31   46.60   STD       12.990         177   P           SFR             2     N
100.00   B15/30                 $ 37,171.61   48.24   STD       12.575         177   P           CO              2     N
100.00   B15/30                 $ 70,346.58   49.91   STD       12.600         177   P           SFR             2     N
100.00   B15/30                 $ 37,551.67   45.78   LIM       10.190         177   P           SFR             2     N
100.00   B15/30                 $ 47,549.04   49.63   STD       11.040         177   P           SFR             2     N
100.00   F30                    $ 34,627.49   42.10   STD       13.290         357   P           SFR             2     N
100.00   F30                    $ 41,763.67   48.24   STD       11.990         357   P           SFR             2     N
100.00   F30                    $ 41,943.19   15.93   STD        9.950         357   P           PUD             2     N
100.00   F30                    $ 28,361.59   46.52   STD        9.950         357   P           SFR             2     N
100.00   F30                    $ 32,955.37   36.17   STD        9.950         357   P           SFR             2     N
100.00   F30                    $ 41,144.27   49.97   STD        9.950         357   P           SFR             2     N
100.00   F15                    $ 23,824.04   48.81   LIM        9.950         177   P           SFR             2     N
100.00   F30                    $ 43,940.48   22.06   STD        9.950         357   P           SFR             2     N
100.00   F30                    $ 89,843.52   45.22   FULL       8.750         357   P           SFR             1     N
100.00   F30                    $ 44,351.95   43.92   FULL      10.990         357   P           SFR             2     N
100.00   B15/30                 $173,817.78   47.93   STD       11.140         177   P           4F              2     N
100.00   B15/30                 $ 72,319.09   40.70   LIM       10.840         177   P           SFR             2     N
100.00   B15/30                 $119,069.63   42.91   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 69,119.26   44.79   LIM       10.640         177   P           SFR             2     N
100.00   B15/30                 $111,699.58   49.41   STD       11.840         177   P           SFR             2     N
100.00   B15/30                 $ 51,943.13   39.60   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 58,928.13   53.22   LIM       10.440         177   P           SFR             2     N
100.00   B15/30                 $ 54,950.61   45.63   STD       11.840         177   P           SFR             2     N
100.00   B15/30                 $ 44,958.68   46.62   STD       11.740         177   P           SFR             2     N
100.00   B15/30                 $ 88,920.06   39.76   STD       11.840         177   P           PUD             2     N
100.00   B15/30                 $ 88,116.77   47.06   STD       11.615         177   P           SFR             2     N
100.00   F30                    $ 40,950.70   39.92   STD       10.500         357   P           SFR             2     N
100.00   A3/6 B30/40            $394,810.50   47.90   FULL       9.990         357   P           SFR             1     N
100.00   B15/30                 $ 40,561.04   46.18   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 41,962.28   40.03   STD       11.840         177   P           SFR             2     N
100.00   B15/30                 $ 44,956.81   40.47   STD       11.540         177   P           SFR             2     N
100.00   F30                    $ 64,889.66   43.98   STD       10.100         357   P           SFR             2     N
100.00   B30/40                 $129,909.63   48.49   FULL       8.750         357   P           SFR             1     N
100.00   F30                    $129,773.98   42.01   FULL       8.750         357   P           SFR             1     N
100.00   A3/6 B30/40            $139,902.67   49.84   LIM        8.750         357   P           SFR             1     N
100.00   F30                    $ 79,860.91   44.12   FULL       8.750         357   P           SFR             1     N
100.00   F30                    $123,784.41   36.75   FULL       8.750         357   P           SFR             1     N
100.00   F30                    $108,810.50   43.68   FULL       8.750         357   P           SFR             1     N
100.00   F30                    $ 96,831.35   36.03   FULL       8.750         357   P           SFR             1     N
100.00   A3/6                   $305,314.43   46.99   FULL       7.500         357   P           SFR             1     N
100.00   A3/6 B30/40            $120,915.87   50.93   FULL       8.750         357   P           SFR             1     N
100.00   A3/6                   $ 89,900.49   50.41   FULL      10.890         357   P           SFR             1     N
100.00   B15/30                 $ 25,785.29   24.35   STD       12.040         178   P           SFR             2     N
100.00   B15/30                 $ 50,963.77   33.00   STD       11.040         178   P           SFR             2     N
100.00   B15/30                 $ 24,986.82   50.53   STD       12.390         178   P           SFR             2     N
100.00   B15/30                 $ 26,584.99   43.97   STD       12.090         178   P           SFR             2     N
100.00   B15/30                 $ 56,955.37   39.70   FULL      10.590         178   P           CO              2     N
100.00   B15/30                 $ 51,573.44   48.81   STD       12.500         178   P           SFR             2     N
100.00   B15/30                 $ 22,987.73   49.72   STD       12.340         178   P           SFR             2     N
100.00   B15/30                 $ 40,965.03   38.26   FULL      10.190         178   P           SFR             2     N
100.00   B15/30                 $ 85,958.63   41.30   STD       12.800         178   P           3F              2     N
100.00   B15/30                 $ 47,162.32   47.90   STD       10.500         178   P           SFR             2     N
100.00   B15/30                 $ 30,777.89   41.49   LIM       10.990         178   P           CO              2     N
100.00   B15/30                 $ 45,970.71   52.00   STD       11.540         178   P           CO              2     N
100.00   F30                    $148,827.93   48.16   FULL       8.750         358   P           SFR             1     N
100.00   B15/30                 $ 70,345.47   45.71   STD       10.640         178   P           SFR             2     N
100.00   F30                    $ 96,588.32   38.38   FULL       8.750         358   P           SFR             1     N
100.00   B15/30                 $ 90,530.05   45.87   STD        9.500         170   P           SFR             2     N
100.00   F30                    $ 75,662.37   46.85   STD       11.000         355   P           SFR             2     N
100.00   F30                    $138,697.66   38.18   LIM       11.400         355   P           SFR             2     N
100.00   F30                    $ 48,352.12   54.95   FULL      11.400         357   P           SFR             2     N
100.00   F30                    $129,916.51   42.06   STD       11.500         358   P           2F              2     N
100.00   F30                    $ 15,193.61   43.24   STD       13.400         358   P           SFR             2     N
100.00   F30                    $ 69,932.25    0.00   STD       11.500         357   P           SFR             2     N
100.00   B15/30                 $ 60,948.17   49.42   STD       12.090         177   P           SFR             2     N
100.00   B15/30                 $ 47,936.98   46.56   FULL      10.090         177   P           SFR             2     N
100.00   A3/6                   $178,864.32   48.41   FULL      10.740         358   P           SFR             1     N
100.00   F30                    $ 33,985.36   49.42   STD       13.290         358   P           SFR             2     N
100.00   A2/6                   $ 83,422.43   49.29   STD        9.790         358   P           SFR             1     N
100.00   B15/30                 $ 36,937.58   38.60   STD       11.340         175   P           CO              2     N
100.00   A2/6                   $ 76,841.47   27.87   FULL       9.340         356   P           SFR             1     N
100.00   F30                    $ 27,957.15   49.70   STD       10.890         356   P           SFR             2     N
100.00   F30                    $ 48,364.46   47.49   STD       14.040         356   P           3F              2     N
100.00   B15/30                 $ 34,948.72   31.45   STD       10.940         176   P           SFR             2     N
100.00   B15/30                 $ 57,930.85   46.03   FULL      10.540         177   P           SFR             2     N
100.00   B15/30                 $ 52,939.46   49.23   STD       10.740         177   P           SFR             2     N
100.00   F30                    $ 40,979.33   33.27   FULL      12.590         358   P           3F              2     N
100.00   B15/30                 $ 37,770.40   47.12   STD       10.590         178   P           SFR             2     N
100.00   B15/30                 $ 59,098.60   44.93   STD       11.990         177   P           SFR             2     N
100.00   B15/30                 $ 35,966.46   45.01   STD       12.990         176   P           SFR             2     N
100.00   B15/30                 $ 37,064.78   46.69   STD       11.590         177   P           SFR             2     N
100.00   B15/30                 $ 49,945.30   44.27   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 52,375.85   44.35   STD       12.990         178   P           SFR             2     N
100.00   IOA3/6                 $330,000.00   42.25   STD        9.300         358   P           SFR             1     N
100.00   B15/30                 $ 50,747.68   44.76   FULL      12.400         177   P           SFR             2     N
100.00   A2/6 B30/40            $246,699.88   48.03   LIM        8.250         357   P           CO              1     N
100.00   B15/30                 $ 31,386.79   44.16   STD       13.390         178   P           SFR             2     N
100.00   B15/30                 $ 45,977.62   46.34   STD       12.750         178   P           SFR             2     N
100.00   B15/30                 $ 71,960.82   47.99   STD       12.250         178   P           SFR             2     N
100.00   F30                    $ 31,551.28   41.95   STD       11.750         355   P           SFR             2     N
100.00   B15/30                 $ 64,405.84   39.35   STD       12.000         175   P           SFR             2     N
100.00   B15/30                 $ 99,918.70   47.33   STD       12.290         177   P           SFR             2     N
100.00   B15/30                 $ 28,977.29   47.05   STD       10.590         178   P           SFR             2     N
100.00   A3/6                   $106,912.55   35.64   FULL      10.390         358   P           SFR             1     N
100.00   B15/30                 $ 51,343.77   30.82   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 62,942.14   42.74   STD       11.740         177   P           SFR             2     N
100.00   B15/30                 $ 51,952.26   48.28   STD       11.740         177   P           SFR             2     N
100.00   B15/30                 $ 58,945.83   49.64   STD       11.740         177   P           SFR             2     N
100.00   B15/30                 $ 91,865.14   47.83   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 82,923.80   38.15   STD       11.740         177   P           SFR             2     N
100.00   B15/30                 $ 51,650.39   46.47   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 41,173.77   30.59   STD       11.540         178   P           SFR             2     N
100.00   B15/30                 $ 38,973.77   44.71   STD       11.290         178   P           TH              2     N
100.00   B15/30                 $ 64,915.54   51.11   STD       11.490         176   P           SFR             2     N
100.00   B15/30                 $ 41,456.18   39.65   FULL       9.890         176   P           SFR             2     N
100.00   B15/30                 $ 66,917.57   43.20   STD       11.740         176   P           CO              2     N
100.00   B15/30                 $ 55,735.04   52.99   STD       10.650         177   P           SFR             2     N
100.00   B15/30                 $ 58,320.86   45.79   LIM        9.940         177   P           CO              2     N
100.00   B15/30                 $ 40,960.66   40.17   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 43,161.19   46.95   STD       11.840         177   P           SFR             2     N
100.00   B15/30                 $ 61,932.19   41.03   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 68,316.66   47.79   FULL      10.440         177   P           SFR             2     N
100.00   B15/30                 $ 35,947.24   26.93   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 74,731.30   47.35   STD       11.740         177   P           SFR             2     N
100.00   B15/30                 $ 97,892.81   41.83   STD       10.940         177   P           SFR             2     N
100.00   B15/30                 $ 49,952.03   41.27   STD       11.540         177   P           CO              2     N
100.00   F30                    $ 63,953.54   43.89   STD       10.940         358   P           CO              2     N
100.00   B15/30                 $ 89,913.64   45.01   STD       11.540         177   P           CO              2     N
100.00   B15/30                 $ 46,948.62   39.26   STD       10.990         177   P           SFR             2     N
100.00   B15/30                 $ 44,872.65   39.01   STD       11.740         178   P           SFR             2     N
100.00   B15/30                 $ 67,934.76   44.32   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 66,152.98   44.31   STD       11.040         178   P           SFR             2     N
100.00   B15/30                 $107,934.22   46.54   STD       11.740         178   P           3F              2     N
100.00   B15/30                 $101,939.22   38.47   STD       11.840         178   P           SFR             2     N
100.00   B15/30                 $ 36,964.49   39.06   STD       11.540         177   P           SFR             2     N
100.00   B15/30                 $ 63,938.59   34.17   STD       11.540         177   P           CO              2     N
100.00   B15/30                 $ 61,942.42   41.83   STD       11.740         177   P           CO              2     N
100.00   B15/30                 $ 35,565.74   26.49   STD       11.525         177   P           SFR             2     N
100.00   F30                    $ 29,188.01   40.70   STD       13.500         358   P           CO              2     N
100.00   F30                    $ 54,951.24   40.58   STD       11.900         357   P           SFR             2     N
100.00   F30                    $ 64,942.38   42.52   FULL      11.900         357   P           2F              2     N
100.00   F30                    $ 74,951.83   49.48   STD       11.500         358   P           SFR             2     N
100.00   F30                    $ 86,938.29   48.14   STD       12.900         357   P           2F              2     N
100.00   F30                    $101,131.34   24.64   FULL      11.250         358   P           SFR             2     N
100.00   F30                    $ 37,148.48   45.90   FULL      12.100         357   P           CO              2     N
100.00   B15/30                 $ 54,929.64   43.01   STD       11.750         177   P           SFR             2     N
100.00   B15/30                 $ 59,892.83   38.52   FULL      10.015         176   P           2F              2     N
100.00   B15/30                 $107,781.61   59.24   LIM       10.500         175   P           SFR             2     N
100.00   B15/30                 $ 48,892.09   58.54   FULL      10.100         175   P           CO              2     N
100.00   F30                    $ 33,170.56   46.26   STD       11.900         357   P           SFR             2     N
100.00   B15/30                 $ 53,970.55   46.48   STD       12.240         178   P           SFR             2     N
100.00   B15/30                 $ 32,979.00   49.22   STD       11.540         178   P           SFR             2     N
100.00   B15/30                 $ 40,385.17   30.57   STD       13.990         178   P           3F              2     N
100.00   F30                    $ 35,981.44   44.63   STD       12.490         358   P           SFR             2     N
100.00   B15/30                 $ 22,486.76   37.77   FULL      11.900         178   P           SFR             2     N
100.00   F30                    $ 23,578.80   36.60   STD        9.950         358   P           SFR             2     N
100.00   F30                    $ 30,558.61   36.08   FULL       9.950         357   P           SFR             2     N
100.00   F30                    $ 49,156.28   41.48   LIM       10.000         358   P           SFR             2     N
100.00   B15/30                 $ 51,961.43   41.66   STD       10.840         178   P           CO              2     N
100.00   F30                    $ 23,565.43   48.97   STD       10.940         356   P           SFR             2     N
100.00   F30                    $ 27,175.57   48.95   STD        9.950         358   P           SFR             2     N
100.00   B15/30                 $ 33,574.53   49.82   STD       10.740         178   P           SFR             2     N
100.00   B15/30                 $ 56,566.34   48.62   STD       11.850         178   P           SFR             2     N
100.00   B15/30                 $ 49,905.76   52.14   FULL      11.690         174   P           SFR             2     N
100.00   A2/6                   $ 90,940.79   43.29   FULL      11.440         358   P           SFR             1     N
100.00   A3/6                   $102,426.40   33.99   FULL      10.990         358   P           SFR             1     N
100.00   A3/6 B30/40            $119,420.67   47.69   FULL      10.840         358   P           SFR             1     N
100.00   A3/6                   $ 85,872.10   30.48   STD        9.500         357   P           SFR             1     N
100.00   A3/6                   $ 59,944.25   39.44   FULL       9.790         358   P           SFR             1     N
100.00   A3/6 B30/40            $124,930.21   46.99   FULL       8.100         358   P           SFR             1     N
100.00   A3/6 B30/40            $142,614.35   49.57   FULL       7.850         358   P           SFR             1     N
100.00   A3/6 B30/40            $286,728.20   49.67   FULL       6.225         358   P           SFR             1     N
100.00   B15/30                 $ 56,569.48   49.90   STD       12.290         178   P           SFR             2     N
100.00   B15/30                 $ 51,272.33   49.61   STD       12.290         178   P           SFR             2     N
100.00   B15/30                 $ 64,952.81   48.22   STD       10.940         178   P           TH              2     N
100.00   B15/30                 $ 53,361.66   48.96   STD       10.990         178   P           SFR             2     N
100.00   F30                    $ 47,365.97   48.86   STD       10.990         358   P           CO              2     N
100.00   B15/30                 $ 97,337.99   38.67   STD       11.540         178   P           3F              2     N
100.00   B15/30                 $114,726.92   43.88   STD       11.540         178   P           SFR             2     N
100.00   B15/30                 $ 92,716.65   42.28   STD       11.840         177   P           SFR             2     N
100.00   B15/30                 $ 51,167.41   49.12   STD       11.540         178   P           SFR             2     N
100.00   B15/30                 $109,934.46   48.48   STD       11.840         178   P           3F              2     N
100.00   B15/30                 $112,932.68   47.98   STD       11.840         178   P           SFR             2     N
100.00   B15/30                 $ 69,353.56   47.04   STD       12.450         177   P           SFR             2     N
100.00   B15/30                 $ 42,922.89   49.00   STD       12.000         174   P           SFR             2     N
100.00   B15/30                 $ 88,907.46   41.53   STD       12.500         176   P           CO              2     N
100.00   A2/6                   $204,742.47   36.50   FULL      10.675         358   P           SFR             1     N
100.00   A2/6 B30/40            $181,967.91   47.75   FULL      11.900         358   P           SFR             1     N
100.00   B30/40                 $146,796.77   33.81   FULL      10.650         358   P           SFR             1     N
100.00   F30                    $ 47,465.96   21.87   FULL      11.000         358   P           CO              1     N
100.00   A2/6                   $ 39,964.13   47.14   STD       11.850         357   P           SFR             1     N
100.00   A2/6                   $199,821.92   49.79   STD        9.990         358   S           SFR             1     N
100.00   F30                    $ 61,581.98   44.47   STD       11.900         359   P           SFR             2     N
100.00   A2/6                   $ 84,897.77   36.98   LIM       10.500         357   P           SFR             1     N
100.00   B15/30                 $ 25,962.96   54.48   LIM       13.250         177   P           SFR             2     N
100.00   B15/30                 $ 51,937.90   49.38   FULL      11.875         176   P           SFR             2     N
100.00   B15/30                 $ 55,935.65   46.44   STD       12.050         176   P           SFR             2     N
100.00   B15/30                 $ 24,981.02   35.09   STD       12.600         177   P           SFR             2     N
100.00   B15/30                 $ 50,972.25   33.14   FULL      12.250         178   P           CO              2     N


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
nonresearch personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



11. LIST OF LOANS WITH BALANCE EQUAL TO OR LESS THAN $100K

list of the loans with CLTV, Product Type, Balance, FICO, Geog, Purpose, DTI,
Doc Type, Coup Rate, Remaining Term, Occupancy, Property Type, Lien status,
Silent Second, MI




CLTV     PRODUCT       BALANCE      FICO   CITY                   STATE   ZIP     PURPOSE
------   -----------   ----------   ----   --------------------   -----   -----   -------

100.00   B15/30        $14,773.89    621   Junction City          KY      40440   P
100.00   F30           $15,185.85    654   Cressona               PA      17929   P
100.00   F30           $15,193.61    648   Rochester              NY      14613   CO
100.00   B15/30        $16,581.45    691   Newton                 IA      50208   P
100.00   F30           $16,781.83    729   Lexington              NC      27292   P
100.00   B15/30        $17,918.05    709   La Salle               CO      80645   P
 99.95   F30           $19,132.80    685   Katy                   TX      77449   P
 99.95   B15/30        $19,177.95    626   Mobile                 AL      36618   P
100.00   F15           $20,683.95    684   Corpus Christi         TX      78410   P
 99.95   B15/30        $21,102.67    687   Houston                TX      77041   P
100.00   F30           $22,326.62    589   Houston                TX      77073   P
100.00   F30           $22,329.62    613   Bentonville            AR      72712   P
100.00   F30           $22,444.02    644   Greece                 NY      14612   P
100.00   B15/30        $22,486.76    601   Lufkin                 TX      75904   P
100.00   F30           $22,551.15    639   Gretna                 LA      70056   P
100.00   F30           $22,717.59    677   Irving                 TX      75061   P
100.00   B15/30        $22,987.73    709   Rockford               IL      61109   P
 99.96   F30           $23,528.85    649   Carrollton             TX      75007   P
100.00   F30           $23,565.43    712   Clifton Heights        PA      19018   P
100.00   F30           $23,578.80    688   Houston                TX      77080   P
 99.97   F30           $23,667.94    682   Houston                TX      77085   P
100.00   B15/30        $23,770.45    673   Edinburgh              IN      46124   RT
100.00   F15           $23,824.04    618   Greenville             TX      75402   P
100.00   F30           $23,874.06    583   Houston                TX      77073   P
100.00   B15/30        $24,333.29    661   Houston                TX      77083   P
 99.98   F30           $24,504.58    658   Katy                   TX      77449   P
 95.00   B15/30        $24,718.52    610   Orlando                FL      32818   P
100.00   F30           $24,969.71    595   Valley                 AL      36854   P
100.00   B15/30        $24,981.02    629   Grand Ledge            MI      48837   P
100.00   B15/30        $24,983.04    596   Miami                  FL      33147   P
100.00   B15/30        $24,986.82    641   Chicago                IL      60628   P
 99.96   F30           $25,418.00    608   Indianapolis           IN      46224   P
100.00   B15/30        $25,785.29    666   Richmond               VA      23224   P
100.00   B15/30        $25,962.96    580   Midland                MI      48640   P
100.00   B15/30        $25,967.23    586   Golden                 CO      80401   P
 16.97   F30           $26,276.15    518   Smyrna                 TN      37167   CO
100.00   F30           $26,382.86    633   Norwood                PA      19074   P
100.00   B15/30        $26,565.24    605   Fort Myers             FL      33905   P
100.00   B15/30        $26,584.99    640   Punta Gorda            FL      33982   P
100.00   F30           $26,890.59    681   Desoto                 TX      75115   P
100.00   F30           $26,941.07    602   Bennington             NE      68007   CO
 99.96   B15/30        $27,114.75    630   Kasson                 MN      55944   P
100.00   F30           $27,175.57    643   Duncanville            TX      75116   P
100.00   F30           $27,485.12    619   Arlington              TX      76013   P
100.00   F30           $27,763.87    611   Baltimore              MD      21215   P
100.00   B15/30        $27,864.49    647   Colorado Springs       CO      80909   P
100.00   F30           $27,957.15    733   Gaylord                MI      49735   P
100.00   B15/30        $28,348.57    649   Porter                 TX      77365   P
100.00   F30           $28,361.59    626   North Richland Hills   TX      76117   P
100.00   B15/30        $28,977.29    759   Plano                  TX      75074   P
100.00   F30           $29,188.01    630   Providence             RI       2904   P
100.00   F20           $29,209.36    615   Tinley Park            IL      60477   P
100.00   B15/30        $29,370.32    614   Stanwood               WA      98292   P
100.00   B15/30        $29,553.10    638   Orange                 CA-S    92868   P
100.00   B15/30        $29,759.18    648   Fort Lauderdale        FL      33334   P
 99.99   B15/30        $29,909.49    642   Houston                TX      77073   P
 93.66   B15/30        $29,934.21    654   Kenosha                WI      53140   RT
100.00   B15/30        $29,956.13    638   Grandview              MO      64030   P
100.00   B15/30        $29,972.22    626   Baton Rouge            LA      70817   RT
100.00   F30           $30,164.73    642   Lawrenceville          GA      30045   CO
100.00   B15/30        $30,314.39    624   Highland               CA-S    92346   P
100.00   F30           $30,558.61    500   Arlington              TX      76018   P
100.00   B15/30        $30,777.89    668   Chicago                IL      60640   P
100.00   F20           $30,872.59    631   Auburn Hills           MI      48326   P
100.00   B15/30        $31,165.52    629   Pompano Beach          FL      33069   P
100.00   B15/30        $31,386.79    632   Aurora                 IL      60505   P
100.00   F30           $31,544.25    593   Lake Helen             FL      32744   P
100.00   F30           $31,551.28    674   Pittsburgh             PA      15228   P
 61.54   F30           $31,932.86    507   Philadelphia           PA      19132   CO
100.00   B15/30        $31,937.21    691   Longmont               CO      80501   P
100.00   B15/30        $31,951.60    634   Columbus               OH      43229   P
100.00   B15/30        $31,961.89    599   Brighton               CO      80601   P
100.00   B15/30        $31,968.61    730   Miami Springs          FL      33166   P
 80.00   A2/6          $31,973.32    584   Atlanta                IN      46031   P
 94.99   B15/30        $32,314.06    629   Lynnwood               WA      98037   P
100.00   F30           $32,341.37    627   East Peoria            IL      61611   CO
100.00   B15/30        $32,364.38    620   Jacksonville           FL      32216   P
 99.97   B15/30        $32,376.23    622   Maryland Heights       MO      63043   P
100.00   F30           $32,778.71    637   Telford                PA      18969   P
100.00   F30           $32,955.37    630   Frisco                 TX      75035   P
100.00   B15/30        $32,979.00    672   Apache Junction        AZ      85220   P
100.00   F30           $33,170.56    688   Rosenberg              TX      77471   P
 99.94   B15/30        $33,569.84    674   Spring                 TX      77379   P
100.00   B15/30        $33,574.53    708   Kenneth City           FL      33709   P
 90.00   B15/30        $33,955.90    667   Pomona                 CA-S    91766   P
100.00   F30           $33,985.36    633   Hermitage              PA      16148   P
 90.00   A2/6          $34,150.09    672   Kansas City            MO      64128   CO
100.00   F30           $34,627.49    626   Long Pond              PA      18334   P
 80.00   F30           $34,758.67    602   Tulia                  TX      79088   CO
100.00   B15/30        $34,948.72    720   Jacksonville           FL      32222   P
100.00   B15/30        $34,952.46    605   Miami                  FL      33147   P
100.00   B15/30        $34,957.40    636   Phoenix                AZ      85009   P
100.00   B15/30        $34,965.95    627   Tampa                  FL      33619   P
100.00   B15/30        $34,975.66    627   Hollywood              FL      33023   P
100.00   B15/30        $34,976.23    639   Spring Hill            FL      34608   P
 45.16   A5/6          $34,979.22    648   Plattsburgh            NY      12901   CO
 99.98   B15/30        $35,277.58    637   Lexington Park         MD      20653   P
100.00   B15/30        $35,565.74    668   Orlando                FL      32808   P
100.00   B15/30        $35,878.89    704   Homestead              FL      33030   P
 99.97   B15/30        $35,894.99    680   Jacksonville           FL      32216   P
100.00   B15/30        $35,934.61    640   Brighton               CO      80602   P
100.00   B15/30        $35,947.24    647   Desert Hot Springs     CA-S    92240   P
100.00   B15/30        $35,966.46    630   Durham                 NC      27703   P
100.00   F30           $35,981.44    658   Palm Bay               FL      32909   P
 80.00   F30           $35,990.84    520   Kermit                 TX      79745   CO
100.00   F30           $36,118.43    576   Cedar Park             TX      78613   P
100.00   B15/30        $36,260.31    663   Denver                 CO      80219   P
100.00   F20           $36,905.47    620   Dearborn               MI      48126   P
100.00   B15/30        $36,919.87    677   Lake Worth             FL      33467   CO
100.00   B15/30        $36,937.58    725   Miami                  FL      33193   P
100.00   B15/30        $36,964.34    618   Miami                  FL      33142   P
100.00   B15/30        $36,964.49    655   Phoenix                AZ      85042   P
100.00   B15/30        $36,967.03    626   Seaford                DE      19973   P
100.00   B15/30        $36,967.78    627   Riviera Beach          FL      33404   P
100.00   B15/30        $37,064.78    613   Tampa                  FL      33625   P
100.00   F30           $37,148.48    614   Branford               CT       6405   P
100.00   B15/30        $37,171.61    630   Wheeling               IL      60090   P
 99.95   F30           $37,532.48    607   Austin                 TX      78702   P
100.00   B15/30        $37,551.67    722   South Holland          IL      60473   P
100.00   B15/30        $37,766.33    632   Denver                 CO      80249   P
100.00   B15/30        $37,770.40    687   Palm Coast             FL      32164   P
100.00   B15/30        $37,929.73    655   Mesquite               TX      75181   P
 46.91   B30/40        $37,965.67    541   Van Buren              AR      72956   CO
 90.00   A2/6          $38,231.17    661   Indianapolis           IN      46235   P
 90.00   A2/6          $38,231.17    661   Indianapolis           IN      46235   P
100.00   B15/30        $38,340.00    600   Phoenix                AZ      85029   P
100.00   B15/30        $38,373.31    623   Lake In The Hills      IL      60156   P
100.00   F30           $38,891.54    683   Newington              CT       6111   CO
100.00   B15/30        $38,973.77    658   Los Banos              CA-N    93635   P
100.00   B15/30        $39,167.49    631   Vancouver              WA      98660   P
 94.92   F30           $39,356.80    706   Mckinney               TX      75070   RT
100.00   B15/30        $39,885.33    605   Lemoore                CA-S    93245   P
100.00   B15/30        $39,911.61    638   Phoenix                AZ      85031   P
 68.97   A3/6          $39,945.05    639   Mabank                 TX      75156   CO
 93.42   F30           $39,950.23    681   Duarte                 CA-S    91010   CO
 80.00   A2/6          $39,955.37    559   Great Bend             KS      67530   CO
100.00   A2/6          $39,964.13    628   Pottsville             PA      17901   P
100.00   B15/30        $40,385.17    640   Chicopee               MA       1013   CO
 61.55   F20           $40,512.39    588   Tulsa                  OK      74104   CO
100.00   B15/30        $40,561.04    642   Mesa                   AZ      85208   P
100.00   B15/30        $40,573.63    627   Orlando                FL      32809   P
 54.93   F30           $40,603.06    676   Montreal               MO      65591   CO
 68.00   F20           $40,606.44    627   Baton Rouge            LA      70807   CO
 95.00   A2/6          $40,694.35    668   Indianapolis           IN      46235   P
 95.00   A2/6          $40,785.96    719   Indianapolis           IN      46224   P
 99.96   B15/30        $40,816.79    655   Punta Gorda            FL      33983   P
100.00   F30           $40,950.70    657   Tucson                 AZ      85746   CO
 85.00   F15           $40,951.13    549   Cadiz                  KY      42211   P
100.00   B15/30        $40,960.66    651   Visalia                CA-S    93292   P
100.00   B15/30        $40,964.36    500   Miami                  FL      33169   P
100.00   B15/30        $40,965.03    738   Midlothian             IL      60445   P
100.00   F30           $40,979.33    636   New Britain            CT       6052   P
 70.00   A2/6          $41,061.79    621   Atlanta                GA      30310   CO
100.00   F30           $41,144.27    664   Houston                TX      77055   P
100.00   B15/30        $41,173.77    690   Reedley                CA-N    93654   P
100.00   B15/30        $41,456.18    690   Phoenix                AZ      85019   P
100.00   F30           $41,763.67    660   Sarasota               FL      34232   P
100.00   F30           $41,943.19    650   Houston                TX      77007   P
100.00   B15/30        $41,962.28    635   Phoenix                AZ      85015   P
 68.85   A2/6          $41,966.09    553   Birmingham             AL      35206   CO
 95.00   F30           $41,975.26    613   Newport News           VA      23601   CO
 99.98   F20           $42,096.64    780   Dearborn               MI      48126   P
 85.00   F30           $42,316.32    626   Cassville              MO      65625   CO
100.00   B15/30        $42,701.93    615   Keenesburg             CO      80643   CO
100.00   F30           $42,905.87    678   Bakersfield            CA-S    93307   P
100.00   B15/30        $42,922.89    637   Salton City            CA-S    92275   P
100.00   F30           $42,954.81    638   Orlando                FL      32824   P
100.00   B15/30        $42,972.08    632   Florida City           FL      33034   P
100.00   B15/30        $43,161.19    620   Salton City            CA-S    92275   P
100.00   B15/30        $43,542.22    624   Brandon                MS      39042   P
100.00   B15/30        $43,546.12    609   Aurora                 CO      80013   P
 77.19   F30           $43,861.29    611   Philadelphia           PA      19134   CO
100.00   F30           $43,940.48    633   Houston                TX      77096   P
100.00   B15/30        $43,954.08    595   Margate                FL      33063   P
100.00   F30           $44,351.95    630   Molalla                OR      97038   CO
 18.33   A2/6          $44,731.64    526   California City        CA-S    93505   P
 99.98   B15/30        $44,823.34    654   Las Vegas              NV      89106   P
100.00   B15/30        $44,871.61    626   San Bernardino         CA-S    92410   P
100.00   B15/30        $44,872.65    624   Hanford                CA-S    93230   P
 90.00   A3/6          $44,925.79    600   Amarillo               TX      79104   P
100.00   B15/30        $44,944.63    623   Parlier                CA-N    93648   P
100.00   B15/30        $44,956.81    657   Glendale               AZ      85303   P
100.00   B15/30        $44,958.68    639   Glendale               AZ      85301   P
100.00   F30           $45,291.80    624   Hanford                CA-S    93230   P
 94.97   B15/30        $45,339.23    772   Las Vegas              NV      89123   P
 84.69   A2/6          $45,656.05    552   Central City           IA      52214   CO
 95.00   B15/30        $45,715.33    754   Naples                 FL      34113   P
100.00   F30           $45,756.07    621   Lutz                   FL      33559   P
 61.33   F15           $45,772.97    532   Fort Stockton          TX      79735   CO
100.00   B15/30        $45,881.23    654   Opa Locka              FL      33055   P
 99.98   B15/30        $45,925.76    644   Plainfield             IL      60586   P
100.00   B15/30        $45,968.74    638   Lehigh Acres           FL      33972   P
100.00   B15/30        $45,970.71    692   Park Ridge             IL      60068   P
100.00   B15/30        $45,977.62    638   Evanston               IL      60201   P
 79.97   A2/6          $46,235.22    580   Cotter                 AR      72626   P
 89.98   A3/6          $46,621.95    752   Kansas City            MO      64134   P
100.00   B15/30        $46,914.46    661   Las Vegas              NV      89108   P
100.00   B15/30        $46,933.77    619   Davie                  FL      33328   P
100.00   B15/30        $46,940.36    668   Twentynine Palms       CA-S    92277   P
100.00   B15/30        $46,948.62    642   Hesperia               CA-S    92344   P
100.00   B15/30        $46,953.39    604   Torrington             CT       6790   P
100.00   B15/30        $47,162.32    623   Saint Charles          IL      60174   P
 75.00   A2/6          $47,209.71    502   Morristown             TN      37814   CO
100.00   B15/30        $47,330.66    669   Las Vegas              NV      89156   P
100.00   F30           $47,365.97    656   Kent                   WA      98031   CO
 89.06   B15/30        $47,465.91    654   Area Of La Puente      CA-S    91744   CO
100.00   F30           $47,465.96    628   Euclid                 OH      44123   P
 80.00   F10           $47,536.05    598   Munford                AL      36268   CO
100.00   B15/30        $47,549.04    662   Glendale Heights       IL      60139   P
 90.00   F30           $47,670.60    649   Waco                   TX      76711   P
 80.00   A3/6          $47,924.75    636   Westmoreland           TN      37186   CO
 80.00   A3/6          $47,932.13    621   Detroit                MI      48213   P
100.00   B15/30        $47,936.98    682   Homestead              FL      33033   P
100.00   F30           $47,937.10    670   Miami                  FL      33056   P
100.00   F30           $47,962.35    607   Meriden                CT       6450   CO
 80.00   A2/6          $47,967.07    593   Reading                PA      19604   CO
100.00   B15/30        $48,042.61    634   Manchester             MI      48158   P
 99.98   B15/30        $48,133.96    668   Wylie                  TX      75098   P
100.00   B15/30        $48,221.33    651   Stockton               CA-N    95207   P
100.00   F30           $48,352.12    690   Wallingford            CT       6492   CO
100.00   F30           $48,364.46    649   Providence             RI       2907   P
 85.00   F30           $48,412.34    555   Roanoke                VA      24017   RT
 99.98   B15/30        $48,466.29    630   South Bend             IN      46614   P
 99.98   B15/30        $48,518.46    630   Cape Coral             FL      33909   P
100.00   B15/30        $48,743.32    652   Denver                 CO      80239   CO
100.00   B15/30        $48,892.09    720   Helendale              CA-S    92342   P
100.00   F30           $49,156.28    611   Puyallup               WA      98373   CO
 85.00   F30           $49,243.15    597   Anniston               AL      36201   CO
 85.00   A3/6          $49,275.74    572   Mary D                 PA      17952   CO
 95.00   B15/30        $49,305.98    673   Fort Lauderdale        FL      33304   CO
 75.00   F15           $49,484.74    614   San Angelo             TX      76901   CO
 78.13   F15           $49,591.32    583   Odessa                 TX      79764   CO
 70.00   F25           $49,639.85    592   Tulsa                  OK      74126   CO
 40.00   A2/6          $49,824.21    513   Pompano Beach          FL      33064   P
 83.33   A3/6          $49,871.75    576   Middlesboro            KY      40965   P
 58.82   F30           $49,883.62    516   Jacksonville           FL      32209   CO
100.00   F30           $49,885.05    632   Calumet City           IL      60409   P
100.00   B15/30        $49,891.15    627   Phoenix                AZ      85015   P
 80.00   F30           $49,899.97    522   Cherryville            NC      28021   P
100.00   B15/30        $49,905.76    611   Las Vegas              NV      89115   P
 79.49   A2/6          $49,926.87    538   Tulsa                  OK      74106   CO
 83.33   F30           $49,936.65    709   Lyons                  KS      67554   CO
 72.05   F30           $49,937.25    537   Waynesfield            OH      45896   CO
100.00   B15/30        $49,945.30    710   Virginia Beach         VA      23456   P
 81.30   F30           $49,947.95    598   Harbor Beach           MI      48441   CO
100.00   F30           $49,949.60    622   Sarasota               FL      34234   P
100.00   B15/30        $49,952.03    645   Long Beach             CA-S    90805   P
 73.07   A3/6          $49,956.50    587   Guthrie                OK      73044   P
 85.00   A2/6          $50,111.35    542   High Point             NC      27260   CO
 44.00   A2/6          $50,127.23    520   Houston                TX      77075   CO
 90.00   F30           $50,251.36    758   Enid                   OK      73703   CO
 80.00   F30           $50,292.48    623   Spartanburg            SC      29303   CO
 80.00   A2/6          $50,295.35    649   Lorain                 OH      44052   CO
100.00   B15/30        $50,309.30    609   Colorado Springs       CO      80919   P
 80.00   A2/6          $50,340.57    599   Philadelphia           PA      19140   P
100.00   B15/30        $50,367.27    638   Port Saint Lucie       FL      34953   P
100.00   B15/30        $50,747.68    617   Cary                   IL      60013   P
 80.00   A2/6          $50,757.21    525   Ellwood City           PA      16117   RT
 85.00   A3/6          $50,906.16    529   Riceville              TN      37370   P
 85.00   A2/6          $50,920.06    636   South Bend             IN      46617   CO
 85.00   A2/6          $50,935.27    675   Birmingham             AL      35211   P
 72.86   A2/6          $50,945.21    692   Detroit                MI      48238   CO
 75.00   F30           $50,957.11    545   Athens                 TX      75751   CO
100.00   B15/30        $50,963.77    667   Paddock Lake           WI      53168   P
100.00   B15/30        $50,972.25    598   Chicago                IL      60605   P
100.00   B15/30        $51,167.41    655   Crestline              CA-S    92325   P
100.00   B15/30        $51,272.33    655   Lehigh Acres           FL      33971   P
 90.00   A2/6 B30/40   $51,272.93    716   Saint Louis            MO      63130   P
 80.00   F15           $51,301.91    736   Jackson                TN      38301   CO
100.00   B15/30        $51,343.77    686   Madera                 CA-N    93637   P
100.00   B15/30        $51,573.44    636   Hanover Park           IL      60133   P
100.00   B15/30        $51,650.39    645   California City        CA-S    93505   P
 56.52   F30           $51,904.81    603   Hazelton               PA      18202   CO
 80.00   A3/6          $51,910.53    564   Burnham                IL      60633   CO
100.00   B15/30        $51,911.67    731   Miami                  FL      33186   P
100.00   F30           $51,915.90    625   Houston                TX      77007   P
 78.79   A2/6          $51,920.59    583   Omaha                  NE      68111   CO
100.00   B15/30        $51,932.44    624   Miami                  FL      33056   P
100.00   B15/30        $51,937.90    618   Oak Lawn               IL      60453   P
100.00   B15/30        $51,943.13    695   Merced                 CA-N    95348   P
 80.00   F30           $51,950.74    563   Baytown                TX      77520   CO
 52.00   F30           $51,951.80    574   Avon Park              FL      33825   CO
100.00   B15/30        $51,952.26    637   Fresno                 CA-N    93722   P
 80.00   A2/6 B30/40   $51,958.76    703   Baltimore              MD      21216   P
100.00   B15/30        $51,961.43    693   Chicago                IL      60611   CO
100.00   F30           $51,963.13    649   Port Saint Lucie       FL      34953   P
100.00   B15/30        $52,336.85    645   Colonial Heights       VA      23834   P
100.00   B15/30        $52,375.85    621   Spring Hill            FL      34609   P
 70.00   A2/6          $52,425.70    502   Kokomo                 IN      46901   CO
 75.00   A2/6          $52,478.91    507   Birmingham             AL      35228   CO
 80.00   F30           $52,719.63    589   Liberty                TX      77575   CO
 80.00   A2/6 B30/40   $52,793.61    507   Memphis                TN      38111   P
100.00   B15/30        $52,917.20    603   Las Vegas              NV      89119   P
100.00   B15/30        $52,939.46    740   West Palm Beach        FL      33415   P
100.00   B15/30        $53,141.23    641   Fort Myers             FL      33912   P
100.00   B15/30        $53,361.66    653   River Grove            IL      60171   P
 85.00   F30           $53,476.38    519   Jackson                TN      38301   CO
 90.00   A2/6          $53,928.48    613   Detroit                MI      48215   CO
 90.00   A3/6          $53,944.85    784   Lithonia               GA      30058   P
100.00   B15/30        $53,958.47    663   East Hartford          CT       6108   P
100.00   B15/30        $53,970.55    704   Pompano Beach          FL      33064   P
100.00   B15/30        $54,897.74    735   Victorville            CA-S    92392   P
 73.23   F30           $54,897.98    633   Trinity                AL      35673   CO
100.00   B15/30        $54,910.41    634   Merced                 CA-N    95340   P
 74.32   A2/6 B30/40   $54,915.98    545   Saint Louis            MO      63121   CO
100.00   B15/30        $54,929.64    637   Crestline              CA-S    92325   P
100.00   B15/30        $54,950.61    628   Las Vegas              NV      89129   P
100.00   F30           $54,951.24    686   Opa Locka              FL      33056   P
 99.82   F30           $54,956.28    659   Nottingham             MD      21236   P
100.00   B15/30        $54,964.28    621   North Lauderdale       FL      33068   P
 95.00   A2/6          $55,023.07    570   Houston                TX      77099   P
 85.00   A3/6          $55,224.89    592   Saginaw                MI      48602   CO
 99.96   B15/30        $55,351.88    645   Lehigh Acres           FL      33972   P
100.00   B15/30        $55,531.76    647   San Jacinto            CA-S    92583   P
 90.00   A2/6          $55,724.38    682   Morganton              NC      28655   CO
100.00   B15/30        $55,735.04    642   Apple Valley           CA-S    92308   P
 80.00   A2/6          $55,864.40    544   Clinton                IA      52732   P
 80.00   F30           $55,870.16    627   Humboldt               TN      38343   CO
 70.00   F30           $55,899.43    549   Thurston               OH      43157   CO
100.00   B15/30        $55,935.65    652   Chicago                IL      60617   P
 80.00   A2/6          $55,949.70    554   Palestine              TX      75803   CO
 80.00   A3/6          $55,974.24    593   Buffalo                NY      14214   P
 75.00   F30           $55,982.61    536   San Antonio            TX      78201   CO
 90.00   A2/6          $56,163.17    629   Alton                  IL      62002   P
100.00   B15/30        $56,330.70    733   Homestead              FL      33032   P
 80.00   A2/6          $56,456.39    624   Greensboro             NC      27406   P
 95.00   B15/30        $56,498.19    692   Las Vegas              NV      89141   P
100.00   B15/30        $56,566.34    652   Las Vegas              NV      89156   P
100.00   B15/30        $56,569.48    656   Pompano Beach          FL      33064   P
 89.90   A2/6          $56,586.56    634   Westbrook              CT       6498   P
 80.00   A2/6          $56,705.51    553   Anderson               SC      29624   P
 95.00   A2/6          $56,905.88    720   Baltimore              MD      21215   P
100.00   B15/30        $56,955.37    746   Miami                  FL      33015   P
 76.76   F30           $57,514.95    501   Houston                TX      77048   CO
 90.00   A2/6          $57,555.38    628   Memphis                TN      38127   P
 94.84   F30           $57,714.18    642   Barberton              OH      44203   P
100.00   B15/30        $57,732.71    664   Lake Worth             FL      33463   P
 80.00   F30           $57,748.84    525   Fort Deposit           AL      36032   P
 65.17   F30           $57,867.82    584   Dothan                 AL      36303   CO
 95.00   A2/6          $57,880.97    652   Memphis                TN      38109   CO
 80.00   A3/6          $57,901.63    631   Salamonia              IN      47381   P
100.00   B15/30        $57,913.93    649   Palmdale               CA-S    93550   P
100.00   B15/30        $57,930.85    664   Miramar                FL      33023   P
 46.40   A2/6          $57,934.72    635   Salt Lake City         UT      84111   RT
 63.44   F10           $58,039.35    614   Houston                TX      77060   CO
 80.00   F30           $58,308.45    516   Gainesville            TX      76240   CO
100.00   B15/30        $58,320.86    620   Riverside              CA-S    92509   P
100.00   B15/30        $58,618.39    691   San Bernardino         CA-S    92405   P
 99.85   B15/30        $58,892.93    694   Worcester              MA       1605   P
100.00   B15/30        $58,909.76    688   Edgewater              FL      32132   P
100.00   B15/30        $58,928.13    671   Rio Lindo              CA-N    95673   P
100.00   B15/30        $58,945.83    633   Fresno                 CA-N    93727   P
 91.00   A3/6          $59,047.17    554   Marion                 WI      54950   RT
 75.00   A2/6          $59,071.55    509   Flint                  MI      48504   CO
100.00   B15/30        $59,098.60    643   Land O Lakes           FL      34638   P
 80.00   A3/6          $59,145.70    603   Jacksonville           FL      32206   P
 80.00   A2/6 B30/40   $59,160.64    576   St Louis               MO      63121   P
 95.00   A2/6          $59,228.22    754   Greenville             SC      29611   P
100.00   B15/30        $59,339.62    609   Oak Lawn               IL      60453   CO
100.00   B15/30        $59,432.20    718   Elmwood Park           IL      60707   P
 70.00   A2/6          $59,452.50    533   Akron                  OH      44304   CO
 58.25   F15           $59,663.87    583   Houston                TX      77066   CO
100.00   B15/30        $59,730.53    637   Fort Myers             FL      33912   P
 75.00   A2/6          $59,737.38    631   Kingman                AZ      86409   CO
 90.00   A2/6 B30/40   $59,749.17    609   Milwaukee              WI      53223   P
 40.00   A2/6          $59,749.43    591   Boca Raton             FL      33434   CO
 75.00   A2/6          $59,835.78    544   Green Bay              WI      54304   CO
100.00   B15/30        $59,856.75    622   Miami                  FL      33177   P
100.00   A2/6          $59,862.11    677   Independence           MO      64050   P
 80.00   A2/6          $59,872.76    635   Louisville             KY      40215   CO
 80.00   A2/6          $59,879.41    615   Detroit                MI      48228   P
 75.00   A2/6          $59,892.27    579   Richmond               VA      23223   CO
100.00   B15/30        $59,892.83    717   Miami                  FL      33150   P
 80.00   A2/6          $59,908.39    543   Detroit                MI      48205   P
 80.00   A2/6          $59,911.10    725   Utica                  NY      13501   P
 80.00   A2/6          $59,913.72    687   Cuba                   MO      65453   P
 67.42   F30           $59,922.82    600   Twin Falls             ID      83301   P
 80.00   A2/6          $59,925.52    604   San Antonio            TX      78242   P
100.00   B15/30        $59,932.84    627   Fairfax                VA      22031   P
100.00   A3/6          $59,944.25    610   Fort Worth             TX      76115   P
100.00   B15/30        $59,945.32    658   Port Saint Lucie       FL      34952   P
 80.00   A3/6          $59,951.59    504   Sparta                 NC      28675   CO
 52.17   A2/6          $59,961.74    605   Corinth                NY      12822   CO
100.00   B15/30        $59,968.61    627   Pawtucket              RI       2860   P
 85.00   A2/6          $60,177.58    557   Marshall               MO      65340   P
 79.97   A2/6          $60,633.30    647   Lansing                MI      48910   P
 95.00   A2/6          $60,675.74    588   Mount Pocono           PA      18344   P
 80.00   A2/6          $60,738.03    648   Rochester              NY      14613   CO
 80.00   A2/6 B30/40   $60,769.77    632   Lakewood               CO      80232   P
 41.50   A2/6          $60,901.34    569   Lady Lake              FL      32159   CO
100.00   B15/30        $60,928.99    659   Las Vegas              NV      89108   CO
100.00   B15/30        $60,948.17    659   Port St Lucie          FL      34952   P
 71.76   F30           $60,957.00    573   Webster                TX      77598   CO
 90.00   F30           $61,038.06    606   Bushnell               IL      61422   CO
 85.00   A2/6          $61,090.08    661   Butler                 PA      16001   CO
 90.00   A2/6          $61,096.85    654   Baltimore              MD      21217   P
 90.00   A2/6 B30/40   $61,139.00    625   Independence           MO      64052   CO
 80.00   A2/6          $61,319.95    554   Fostoria               OH      44830   CO
100.00   B15/30        $61,457.85    710   Manassas               VA      20110   P
 80.00   A2/6          $61,503.66    525   Lansing                MI      48906   P
 80.00   F30           $61,552.64    501   Tupelo                 MS      38804   P
100.00   F30           $61,581.98    685   North Kingstown        RI       2852   P
 95.00   A3/6          $61,659.87    631   New Waterford          OH      44445   CO
 95.00   A2/6          $61,684.36    614   Wilkes Berre           PA      18702   P
100.00   B15/30        $61,748.70    645   Lehigh Acres           FL      33971   P
100.00   B15/30        $61,862.42    631   Miami Gardens          FL      33055   P
100.00   B15/30        $61,872.50    633   Las Vegas              NV      89146   P
100.00   F30           $61,896.70    637   Miami                  FL      33168   P
 88.57   F30           $61,907.78    627   Struthers              OH      44471   CO
100.00   F30           $61,916.84    642   Oroville               CA-N    95965   CO
100.00   B15/30        $61,929.20    666   Miami                  FL      33127   P
100.00   B15/30        $61,932.19    698   Highland               CA-S    92346   P
100.00   B15/30        $61,942.42    624   Corona                 CA-S    92882   P
100.00   F15           $62,441.40    650   Palmdale               CA-S    93552   P
 99.00   F30           $62,590.59    637   Honolulu               HI      96818   CO
 95.00   B15/30        $62,650.40    602   Stuart                 FL      34997   CO
 89.86   A2/6          $62,758.61    595   St. Louis              MO      63120   P
 66.32   A2/6          $62,766.81    590   Paisley                FL      32767   CO
 70.00   F30           $62,845.69    563   Nashville              TN      37207   CO
100.00   B15/30        $62,916.50    721   Sunrise                FL      33322   P
100.00   B15/30        $62,930.77    630   Victorville            CA-S    92394   P
100.00   B15/30        $62,942.14    621   Stockton               CA-N    95215   P
 75.00   A3/6          $62,948.62    587   Garland                TX      75041   CO
 75.00   B30/40        $62,956.20    631   Corunna                MI      48817   CO
 80.00   A2/6          $63,111.83    611   San Antonio            TX      78245   P
100.00   B15/30        $63,245.16    710   Lehigh Acres           FL      33936   P
 97.16   B15/30        $63,431.29    631   Chicago                IL      60607   CO
100.00   B15/30        $63,480.69    723   Bakersfield            CA-S    93313   P
 80.00   A3/6          $63,520.84    519   Detroit                MI      48219   P
100.00   B15/30        $63,535.34    702   Hollywood              FL      33024   P
 84.34   F20           $63,593.28    503   Snyder                 TX      79549   RT
 72.44   A2/6          $63,639.14    632   New Haven              CT       6519   CO
 85.00   A2/6          $63,681.18    614   Detroit                MI      48221   CO
 79.98   A2/6          $63,747.76    620   Topeka                 KS      66614   P
100.00   B15/30        $63,829.29    650   Sunrise                FL      33313   P
 80.00   A2/6          $63,870.61    596   Fostoria               OH      44830   P
 90.00   A2/6 B30/40   $63,889.34    602   El Paso                TX      79930   P
100.00   B15/30        $63,920.40    628   California City        CA-S    93505   P
 88.89   A2/6          $63,929.08    625   Lancaster              KS      66041   CO
100.00   B15/30        $63,938.59    649   Upland                 CA-S    91786   P
100.00   F30           $63,953.54    683   West Covina            CA-S    91792   P
 80.00   A2/6          $63,982.19    548   Cleveland              OH      44102   P
 80.00   A2/6          $64,261.10    680   Houston                TX      77088   P
100.00   B15/30        $64,280.25    683   Ceres                  CA-N    95307   P
 71.10   F20           $64,342.50    661   Corpus Christi         TX      78410   RT
100.00   F30           $64,364.33    640   Warwick                RI       2889   CO
 80.00   A2/6          $64,369.64    591   Cheektowaga            NY      14226   P
100.00   B15/30        $64,405.84    646   Cathedral City         CA-S    92234   P
 80.00   A2/6          $64,464.59    502   Jesup                  GA      31545   CO
 85.00   A2/6          $64,501.40    521   Detroit                MI      48227   CO
 70.00   A2/6 B30/40   $64,733.65    610   Pelkie                 MI      49958   CO
 56.52   F20           $64,816.66    512   Grand Bay              AL      36541   CO
 69.89   A2/6          $64,881.33    572   Verona                 PA      15147   CO
100.00   F30           $64,889.66    802   Las Vegas              NV      89147   CO
100.00   B15/30        $64,915.54    654   San Jacinto            CA-S    92582   P
100.00   B15/30        $64,920.91    630   Las Vegas              NV      89128   P
 57.02   A2/6          $64,938.77    590   Beaver                 OH      45613   CO
100.00   F30           $64,942.38    654   Pascoag                RI       2859   CO
100.00   B15/30        $64,952.81    661   Woodbridge             VA      22193   P
 80.00   A2/6 B30/40   $65,468.88    679   Philadelphia           PA      19124   P
 79.88   A2/6          $65,479.63    520   Los Fresnos            TX      78566   RT
 80.00   A3/6          $65,554.91    561   Dallas                 TX      75203   CO
 44.00   F30           $65,885.26    514   Morristown             TN      37814   CO
 80.00   A2/6          $65,894.12    648   Pontiac                MI      48342   P
100.00   B15/30        $66,152.98    676   Perris                 CA-S    92571   P
 85.00   A2/6          $66,202.02    569   Detroit                MI      48228   P
 85.00   A2/6          $66,225.89    561   Detroit                MI      48202   CO
 80.00   A2/6          $66,307.29    522   Johnson City           TN      37601   P
 51.15   A2/6          $66,397.92    513   Norfolk                VA      23523   CO
 90.00   A2/6          $66,494.30    587   Williamsport           PA      17701   P
 95.00   A3/6          $66,540.11    585   Santa Rosa             TX      78593   P
 90.00   A3/6 B30/40   $66,562.96    550   Rockford               IL      61109   CO
 79.96   A2/6 B30/40   $66,606.18    636   Raleigh                NC      27604   P
 49.44   F30           $66,638.63    634   Harrisburg             PA      17111   CO
100.00   F30           $66,852.96    718   Las Vegas              NV      89123   P
100.00   B15/30        $66,873.03    673   Anaheim                CA-S    92805   P
 70.53   F30           $66,916.67    646   Plainwell              MI      49080   CO
100.00   B15/30        $66,917.57    620   Chula Vista            CA-S    91913   P
100.00   F30           $66,959.28    600   Bakersfield            CA-S    93301   P
 80.00   F30           $67,056.52    619   Kansas City            MO      64138   P
 80.00   F30           $67,113.80    603   Berlin                 NY      12022   P
 90.00   A3/6          $67,232.75    657   Detroit                MI      48210   CO
 80.00   A2/6          $67,323.83    606   Georgetown             TX      78626   P
100.00   B15/30        $67,432.49    630   Apple Valley           CA-S    92307   P
100.00   B15/30        $67,483.68    729   Highland               CA-S    92346   P
 85.00   A2/6          $67,663.35    526   Lakeview               MI      48850   CO
 85.00   A3/6          $67,857.68    752   Kansas City            MO      64134   CO
 80.00   A3/6          $67,893.42    576   Sherman                TX      75092   CO
100.00   B15/30        $67,934.76    664   San Bernardino         CA-S    92376   P
 80.00   F30           $67,936.28    533   Muncy                  PA      17756   CO
100.00   F30           $67,949.52    635   Providence             RI       2909   P
 80.00   A2/6          $67,954.37    505   Macon                  GA      31206   CO
 85.00   A2/6 B30/40   $67,956.42    524   Benton Harbor          MI      49022   CO
 78.39   F30           $68,087.98    596   Dallas                 TX      75208   CO
100.00   B15/30        $68,316.66    657   Fontana                CA-S    92335   P
 76.97   A2/6          $68,374.61    569   Lewiston               MI      49756   CO
 80.00   F20           $68,576.72    626   Dallas                 TX      75241   CO
 70.00   F30           $68,757.36    641   Philadelphia           PA      19124   CO
 49.70   F30           $68,779.88    551   Corcoran               CA-S    93212   CO
100.00   B15/30        $68,914.18    636   Manteca                CA-N    95336   P
 60.00   A3/6          $68,919.66    543   Havensville            KS      66432   CO
 58.33   F10           $68,974.41    589   Houston                TX      77049   RT
 80.00   F30           $69,073.34    602   Dallas                 TX      75227   P
100.00   B15/30        $69,119.26    637   Sacramento             CA-N    95823   P
100.00   B15/30        $69,128.54    606   Federal Way            WA      98023   P
 80.00   A2/6          $69,274.35    634   Avis                   PA      17721   P
100.00   B15/30        $69,353.56    647   Hesperia               CA-S    92345   P
 80.00   A3/6          $69,479.00    635   Milledgeville          GA      31061   CO
 80.00   A2/6          $69,517.93    608   Moore                  SC      29369   P
 90.00   F30           $69,577.54    644   Memphis                TN      38134   P
 75.00   A2/6          $69,634.86    513   Millville              NJ       8332   CO
 88.73   B15/30        $69,652.99    659   San Jose               CA-N    95110   CO
 80.00   A3/6          $69,819.59    634   Toledo                 OH      43612   CO
 66.67   F30           $69,858.14    605   League City            TX      77573   CO
 77.78   A3/6          $69,903.28    568   Baltimore              MD      21211   CO
 69.31   A3/6          $69,909.27    526   Whitehall              MI      49461   CO
 73.68   A2/6 B30/40   $69,912.27    621   Phoenix                AZ      85033   P
 56.00   A2/6          $69,922.84    557   Rock Springs           WY      82901   CO
100.00   F30           $69,932.25    697   Upper Marlboro         MD      20774   CO
100.00   B15/30        $70,081.08    620   Foresthill             CA-N    95631   CO
 95.00   B15/30        $70,156.38    656   San Diego              CA-S    92114   CO
100.00   B15/30        $70,270.94    618   Riverside              CA-S    92501   P
100.00   B15/30        $70,273.59    670   Miami                  FL      33165   P
 95.00   A2/6 B30/40   $70,291.82    625   Sparta                 TN      38583   P
100.00   B15/30        $70,322.99    675   Davie                  FL      33314   P
100.00   B15/30        $70,345.47    623   Cathedral City         CA-S    92234   P
100.00   B15/30        $70,346.58    627   Elmwood Park           IL      60707   CO
 75.00   A2/6          $70,372.31    598   Dover                  PA      17315   P
 85.00   A3/6          $70,397.91    585   Cleveland              OH      44120   CO
 85.00   A2/6          $70,497.39    538   Heppner                OR      97836   CO
 79.90   F30           $70,584.24    599   Corpus Christi         TX      78412   RT
 80.00   A2/6          $70,736.96    599   Searcy                 AR      72143   P
100.00   B15/30        $70,836.57    682   Montclair              CA-S    91763   P
 83.53   A3/6          $70,918.00    633   Nacogdoches            TX      75964   RT
 73.96   F30           $70,919.94    520   New Ulm                TX      78950   CO
 75.00   A2/6          $70,957.70    587   Monticello             IN      47960   CO
 95.00   A2/6          $70,999.36    613   Union City             GA      30291   P
100.00   B15/30        $71,049.69    681   Port Saint Lucie       FL      34952   P
 75.00   A2/6          $71,102.08    684   Chicago                IL      60643   CO
 80.00   A2/6 B30/40   $71,110.34    579   Escanaba               MI      49829   CO
 80.00   A2/6          $71,124.17    649   Saint Louis            MO      63120   P
 83.82   A2/6          $71,182.89    563   Spokane                WA      99202   CO
 95.00   B30/40        $71,215.61    666   Dallas                 TX      75232   P
 61.64   A2/6          $71,441.69    529   Croswell               MI      48422   CO
 80.00   A2/6          $71,738.75    577   Akron                  OH      44314   P
 80.00   A3/6          $71,777.87    665   Atlanta                GA      30311   P
 80.00   F30           $71,820.04    652   Dallas                 TX      75217   CO
 80.00   A2/6          $71,836.93    603   Monticello             IN      47960   P
 80.00   F30           $71,851.12    626   Fort Worth             TX      76119   RT
 80.00   A2/6          $71,871.94    643   Pittsburgh             PA      15229   P
 80.00   F30           $71,874.83    627   Moline                 IL      61265   CO
 90.00   A2/6          $71,879.65    682   Topeka                 KS      66608   P
 90.00   F30           $71,882.36    623   Jackson                MS      39209   RT
 80.00   A2/6          $71,899.57    668   Williamsburg           VA      23185   P
 90.00   A3/6          $71,903.44    563   Jim Thorpe             PA      18229   CO
 90.00   A2/6          $71,910.37    660   Baltimore              MD      21216   P
100.00   B15/30        $71,921.26    677   Miami                  FL      33173   P
 90.00   F30           $71,923.47    643   Macon                  GA      31204   CO
 57.14   A3/6          $71,926.60    506   Jacksonville           FL      32205   CO
100.00   B15/30        $71,926.78    711   Hollywood              FL      33019   P
 80.00   A3/6          $71,937.38    564   Detroit                MI      48203   P
 80.00   A3/6          $71,944.23    501   San Antonio            TX      78244   CO
100.00   B15/30        $71,960.82    629   Des Plaines            IL      60016   P
 90.00   B30/40        $71,964.40    674   Detroit                MI      48219   RT
 95.00   F25           $72,026.78    684   Cincinnati             OH      45223   CO
 85.00   A3/6          $72,124.39    532   East Alton             IL      62024   CO
 85.00   A2/6          $72,176.35    545   Anniston               AL      36207   P
 99.95   A3/6          $72,243.16    630   Muskegon               MI      49442   P
100.00   B15/30        $72,319.09    604   Antelope               CA-N    95843   P
 74.39   F30           $72,373.35    703   Spring                 TX      77373   P
 75.00   A2/6          $72,586.05    551   Waterford              MI      48328   CO
 85.00   A2/6          $72,588.98    533   Findlay                OH      45840   RT
 80.00   F30           $72,673.42    625   Bethalto               IL      62010   CO
 75.00   F30           $72,699.00    561   Lancaster              TX      75134   CO
 80.00   A3/6          $72,700.48    522   Detroit                MI      48224   P
 80.00   IOA2/6        $72,800.00    630   Baltimore              MD      21215   P
100.00   F30           $72,896.72    634   Roosevelt              NY      11575   CO
100.00   B15/30        $72,928.21    624   Frederick              MD      21703   P
 80.00   A2/6          $72,935.68    600   Baton Rouge            LA      70806   P
 85.00   A2/6          $72,951.38    694   Indianapolis           IN      46235   CO
 95.00   A3/6          $73,045.68    656   Radcliff               KY      40160   CO
 95.00   A2/6          $73,058.17    568   South Bend             IN      46628   P
 99.97   F30           $73,260.66    615   Summit                 MS      39666   P
100.00   B15/30        $73,277.80    728   Montebello             CA-S    90640   P
 95.00   A2/6          $73,500.24    717   Houston                TX      77042   P
 80.00   A2/6          $73,514.98    603   Nampa                  ID      83651   P
100.00   B15/30        $73,532.55    614   Chicago                IL      60647   P
 80.00   A2/6 B30/40   $73,587.09    745   Denver                 CO      80237   P
 82.00   A3/6          $73,650.17    643   Detroit                MI      48221   CO
100.00   B15/30        $73,798.80    630   Temecula               CA-S    92591   P
100.00   B15/30        $73,923.60    695   Miami                  FL      33165   P
 55.56   A2/6          $73,985.53    569   Swanton                VT       5488   CO
 80.00   B30/40        $74,252.65    631   Jacksonville           FL      32244   P
 79.99   A3/6          $74,253.86    603   El Paso                TX      79928   CO
100.00   F30           $74,491.20    732   Dayton                 NV      89403   P
 80.00   F15           $74,537.34    635   Garland                TX      75040   CO
 90.00   F30           $74,576.40    619   Davenport              IA      52802   CO
 90.00   A3/6          $74,609.17    650   Detroit                MI      48212   P
 75.00   F20           $74,638.59    568   Austin                 TX      78744   CO
100.00   B15/30        $74,679.72    719   Miami                  FL      33177   P
 80.00   F30           $74,723.54    522   Hickory                NC      28602   CO
100.00   B15/30        $74,731.30    628   Rialto                 CA-S    92376   P
 56.82   A2/6          $74,738.28    565   West Palm Beach        FL      33401   CO
100.00   B15/30        $74,768.39    635   Palmdale               CA-S    93552   P
 30.61   F30           $74,776.35    623   Roanoke                TX      76262   CO
 44.91   A2/6          $74,820.04    604   Delmar                 MD      21875   CO
 50.00   F30           $74,865.61    541   Saint Petersburg       FL      33710   CO
 55.56   F30           $74,891.08    503   Fort Pierce            FL      34946   CO
 75.00   A3/6          $74,892.71    519   Springport             IN      47386   P
 51.72   A3/6          $74,897.26    500   Bethlehem              PA      18018   CO
 62.50   A2/6          $74,903.03    527   Phoenix                AZ      85008   CO
 25.42   A3/6          $74,916.03    551   Imlay City             MI      48444   CO
100.00   B15/30        $74,917.58    611   Ontario                CA-S    91764   P
 75.00   A2/6          $74,925.78    543   Mount Airy             NC      27030   CO
 65.29   F30           $74,937.08    587   Deltona                FL      32725   CO
100.00   F30           $74,951.83    649   Mastic                 NY      11950   CO
 80.00   A2/6          $75,093.87    510   Des Moines             IA      50316   CO
 80.00   A2/6          $75,095.09    638   De Soto                MO      63020   CO
 80.00   A2/6          $75,148.69    520   Houma                  LA      70360   P
 89.97   A3/6          $75,287.22    558   Butler                 IN      46721   P
 80.00   F15           $75,375.93    641   Houston                TX      77015   CO
 43.89   F10           $75,424.43    644   Yuma                   AZ      85364   CO
 84.00   A3/6          $75,494.44    629   Millinocket            ME       4462   CO
 89.47   F30           $75,529.15    641   Spartanburg            SC      29306   CO
 85.00   F30           $75,575.28    536   Angola                 IN      46703   CO
100.00   F30           $75,662.37    740   Rialto                 CA-S    92376   P
 80.00   F30           $75,720.52    629   San Antonio            TX      78213   P
 80.00   F30           $75,834.42    646   Winston Salem          NC      27103   CO
 80.00   F30           $75,874.50    525   Joshua                 TX      76058   CO
 80.00   A2/6          $75,881.47    511   Salem                  OH      44460   P
 80.00   F30           $75,905.18    560   Newberry               MI      49868   CO
100.00   B15/30        $75,915.05    655   Chicago                IL      60639   P
 95.00   A2/6          $75,917.52    645   Philadelphia           PA      19144   P
 82.61   A2/6          $75,924.94    518   Huntsville             AL      35810   CO
 80.00   A2/6 B30/40   $75,938.85    548   Lorain                 OH      44052   P
 83.52   B30/40        $75,945.19    607   Ashtabula              OH      44004   CO
 80.00   A3/6 B30/40   $76,216.48    664   Syracuse               NY      13208   P
 90.00   F30           $76,242.41    636   Jacksonville           FL      32208   CO
 85.00   A2/6          $76,258.63    747   Saint Louis            MO      63137   RT
 40.56   F30           $76,361.53    551   Largo                  FL      33770   CO
 85.00   A3/6          $76,373.42    598   Jackson                TN      38305   CO
 90.00   A2/6          $76,379.09    567   Chattanooga            TN      37406   CO
 85.00   A5/6          $76,402.43    615   Kipton                 OH      44049   CO
 79.69   A3/6          $76,424.28    567   Macon                  GA      31217   CO
 80.00   A3/6          $76,425.19    501   Tampa                  FL      33615   P
 85.00   A3/6 B30/40   $76,428.83    575   Belleville             IL      62226   CO
 85.00   A2/6          $76,433.10    507   Birmingham             AL      35214   P
 90.00   A2/6          $76,435.56    556   Memphis                TN      38118   P
 90.00   A3/6 B30/40   $76,441.06    619   Granite City           IL      62040   RT
 75.00   A3/6          $76,454.76    546   Philadelphia           PA      19139   CO
 79.97   A2/6          $76,559.46    685   Katy                   TX      77449   P
 80.00   A2/6          $76,617.72    607   Minot                  ND      58703   P
 80.00   A2/6          $76,627.93    743   Roseville              MI      48066   P
 80.00   A2/6          $76,667.82    533   Irving                 TX      75061   CO
 80.00   A2/6          $76,717.53    621   Pasadena               TX      77502   P
 80.00   IOA2/6        $76,800.00    637   Knoxville              TN      37920   P
100.00   A2/6          $76,841.47    647   Conley                 GA      30288   P
100.00   F30           $76,884.49    624   Woodland               CA-N    95695   CO
 92.00   F20           $76,901.77    728   Fort Worth             TX      76115   RT
100.00   B15/30        $76,919.61    598   Naples                 FL      34120   P
 80.00   F20           $77,040.32    645   Dallas                 TX      75208   CO
100.00   B15/30        $77,225.82    623   Fairfield              CA-N    94533   P
 90.00   A3/6          $77,309.69    650   Detroit                MI      48213   P
 80.00   A2/6 B30/40   $77,633.39    756   Phoenix                AZ      85043   P
100.00   B15/30        $77,733.20    802   Moreno Valley          CA-S    92557   P
 85.00   F20           $77,846.09    637   Humble                 TX      77338   RT
 82.11   F30           $77,928.75    614   Terre Haute            IN      47805   CO
 80.00   A2/6          $77,961.20    670   Rockford               MI      49341   P
 85.00   A2/6          $78,025.38    588   Carnegie               PA      15106   P
 85.00   F30           $78,137.56    524   Tyrone                 PA      16686   CO
 90.00   F30           $78,142.71    631   Chicago                IL      60628   P
 79.98   A2/6          $78,202.62    675   Fort Myers             FL      33916   P
 88.70   A2/6          $78,409.39    579   Watauga                TX      76148   P
 84.97   A3/6          $78,531.50    620   Erie                   PA      16508   CO
 85.00   A3/6          $78,652.68    507   Mobile                 AL      36695   P
 75.00   A3/6          $78,665.42    546   Kankakee               IL      60901   CO
 75.00   A5/6          $78,667.16    529   China Spring           TX      76633   CO
 46.47   A2/6 B30/40   $78,912.75    597   Des Moines             IA      50310   CO
100.00   B15/30        $78,913.16    600   Chula Vista            CA-S    91915   P
 69.91   A2/6 B30/40   $78,975.29    512   Hampton                VA      23669   CO
 80.00   A2/6          $79,031.21    654   Detroit                MI      48205   P
 80.00   A2/6          $79,041.50    680   Dallas                 TX      75254   P
 80.00   A3/6          $79,062.29    606   El Paso                TX      79907   CO
100.00   B15/30        $79,195.04    663   Fontana                CA-S    92335   P
 63.80   F30           $79,497.13    587   Madison                WI      53704   CO
100.00   F30           $79,578.56    654   Woodinville            WA      98077   CO
 80.00   A2/6 B30/40   $79,610.61    613   Tigard                 OR      97223   CO
 70.80   A2/6          $79,676.28    527   Sandston               VA      23150   CO
 79.99   F20           $79,738.73    595   Houston                TX      77072   CO
 72.73   A2/6 B30/40   $79,763.61    662   Maricopa               CA-S    93252   CO
 79.98   A2/6          $79,800.64    675   Fort Myers             FL      33916   P
 99.99   B15/30        $79,807.65    626   Waldorf                MD      20603   P
100.00   A2/6          $79,853.58    736   Pittsburgh             PA      15236   P
 80.00   F30           $79,857.71    590   Grand Prairie          TX      75052   CO
 62.99   A3/6          $79,858.00    547   Buffalo Gap            TX      79508   CO
100.00   F30           $79,860.91    595   South Bend             IN      46619   RT
 80.00   F30           $79,860.91    608   Winamac                IN      46996   CO
 68.97   F30           $79,866.64    587   Powhatan               VA      23139   CO
 80.00   F30           $79,881.65    606   Garland                TX      75040   RT
 44.94   F30           $79,885.56    618   Parker                 AZ      85344   CO
 80.00   A2/6          $79,890.65    617   Marion                 AR      72364   P
 80.00   A3/6          $79,900.43    507   Glen Rose              TX      76043   CO
 40.00   A3/6          $79,917.60    553   East Providence        RI       2914   CO
 60.15   A2/6          $79,919.99    564   Port Huron             MI      48060   CO
 80.00   A2/6          $79,922.63    630   Columbia               SC      29209   P
 78.43   A2/6 B30/40   $79,945.20    542   Detroit                MI      48224   CO
 88.89   A2/6 B30/40   $79,954.62    619   Royal Palm Beach       FL      33411   CO
 80.00   A2/6 B30/40   $79,965.58    589   Bellevue               KY      41073   CO
 70.80   A2/6 B30/40   $79,974.20    581   Crystal River          FL      34428   CO
 69.07   F10           $80,067.54    701   Katy                   TX      77449   CO
 67.65   F30           $80,279.55    742   Tampa                  FL      33602   CO
 80.00   A2/6          $80,323.05    555   Houston                TX      77080   CO
100.00   B15/30        $80,463.24    618   Norwalk                CA-S    90650   P
 85.00   A2/6          $80,569.35    551   Tampa                  FL      33604   P
 85.00   A2/6          $80,604.23    530   South Bend             IN      46619   P
 85.00   A2/6          $80,646.45    563   Milan                  TN      38358   P
 85.00   B30/40        $80,699.58    541   Frostproof             FL      33843   CO
 80.00   F30           $80,703.87    634   Lehigh Acres           FL      33971   P
 90.00   A2/6          $80,708.97    596   Tulsa                  OK      74107   CO
 89.90   F30           $80,710.19    739   Jacksonville           FL      32209   P
 95.00   A2/6 B30/40   $80,730.00    649   Gary                   IN      46408   P
 80.00   IOA2/6        $80,800.00    618   Kutztown               PA      19530   P
 75.00   A3/6          $80,875.69    502   Humble                 TX      77396   CO
100.00   B15/30        $80,878.77    652   Fontana                CA-S    92337   CO
100.00   B15/30        $80,899.24    628   La Puente              CA-S    91744   P
 90.00   A3/6          $80,915.52    562   Williamsport           PA      17701   RT
 90.00   F30           $80,918.30    608   Chillicothe            OH      45601   CO
 90.00   A2/6          $80,921.67    653   Saint Louis            MO      63115   P
 90.00   A2/6          $80,922.48    559   Hamburg                PA      19526   P
 90.00   A3/6          $80,936.72    565   Greensboro             NC      27403   P
100.00   F15           $81,146.18    634   Riverside              CA-S    92507   P
 80.00   A2/6          $81,221.89    721   Canton                 TX      75103   P
 85.00   A2/6          $81,489.62    665   Philadelphia           PA      19141   CO
 62.04   F10           $81,573.77    618   Farmers Branch         TX      75234   CO
 41.00   F30           $81,758.98    567   Madera                 CA-N    93638   CO
 70.69   F30           $81,809.24    591   Chicago                IL      60643   CO
100.00   B15/30        $81,812.59    670   Riverside              CA-S    92503   P
100.00   B15/30        $81,815.20    669   San Diego              CA-S    92139   P
 54.67   A3/6          $81,816.56    529   New Bedford            MA       2745   CO
 75.00   F15           $81,824.61    583   Devine                 TX      78016   CO
100.00   B15/30        $81,870.73    688   Hesperia               CA-S    92345   P
100.00   B15/30        $81,900.22    624   Madera                 CA-N    93638   P
100.00   B15/30        $81,902.59    686   Boca Raton             FL      33433   RT
 74.91   F30           $82,114.15    649   Houston                TX      77074   CO
 85.00   F30           $82,191.68    685   Dallas                 TX      75217   RT
 64.96   A2/6          $82,345.50    567   Saint Petersburg       FL      33704   CO
 66.53   A2/6          $82,379.82    539   Acworth                GA      30101   CO
 79.99   A3/6          $82,472.66    527   Jacksonville           FL      32208   P
 77.93   A2/6          $82,798.69    679   Cartersville           GA      30120   CO
100.00   B15/30        $82,923.80    626   Vallejo                CA-N    94590   P
 85.00   A2/6          $83,234.56    519   Ashland City           TN      37015   CO
100.00   A2/6          $83,422.43    640   Pittsburgh             PA      15236   P
 71.07   A2/6          $83,443.21    644   Vidalia                GA      30474   CO
 82.11   B30/40        $83,691.73    565   Saint Ann              MO      63074   CO
 79.90   A3/6          $83,774.96    570   Sauk Village           IL      60411   CO
 79.90   F30           $83,816.40    548   Fort Worth             TX      76133   RT
 80.00   A2/6          $83,825.97    617   North Miami            FL      33161   P
 80.00   A3/6          $83,831.50    621   Houston                TX      77082   P
 80.00   A2/6          $83,845.95    606   Erie                   PA      16508   P
 80.00   A3/6          $83,850.61    585   Houston                TX      77066   CO
100.00   B15/30        $83,906.13    619   Elk Grove              CA-N    95758   P
 80.00   A2/6 B30/40   $83,967.04    515   Milwaukee              WI      53208   P
 80.00   A2/6 B30/40   $83,977.78    603   Memphis                TN      38128   P
 90.00   A3/6          $84,015.92    558   Kansas City            MO      64134   P
 90.00   A2/6          $84,086.34    555   Middletown             OH      45044   P
 80.00   A2/6          $84,190.83    677   La Crosse              WI      54603   P
100.00   B15/30        $84,354.20    695   Menifee                CA-S    92584   P
 93.41   F30           $84,372.13    644   Los Fresnos            TX      78566   RT
 90.00   A3/6          $84,457.10    700   Akron                  OH      44320   P
 80.00   A2/6          $84,684.66    599   Temple                 TX      76502   P
 80.00   F10           $84,695.68    631   Houston                TX      77087   CO
 85.00   F30           $84,873.56    544   Desloge                MO      63601   CO
 85.00   A3/6          $84,888.39    551   Detroit                MI      48205   CO
100.00   A2/6          $84,897.77    596   Bay City               MI      48706   P
 79.81   F30           $84,902.00    533   Old Town               FL      32680   CO
 85.00   F30           $84,908.05    568   Richmond               VA      23222   CO
 65.89   B30/40        $84,920.95    597   Jackson                MI      49202   CO
 85.00   A3/6          $84,925.91    659   Harvey                 IL      60426   CO
 77.27   IOA2/6        $85,000.00    637   Shafter                CA-S    93263   P
 63.19   F30           $85,157.70    514   Dell Rapids            SD      57022   CO
 90.00   A3/6          $85,262.33    736   Jacksonville           FL      32206   CO
 90.00   A2/6          $85,265.34    626   Cincinnati             OH      45239   CO
100.00   B15/30        $85,268.29    590   Romoland               CA-S    92585   P
 43.85   A3/6          $85,358.12    539   Brockton               MA       2301   CO
 90.00   F30           $85,365.71    564   Cleburne               TX      76031   RT
 90.00   F30           $85,376.10    589   Spicewood              TX      78669   P
 90.00   A2/6          $85,377.83    594   New Johnsonville       TN      37134   P
 90.00   A2/6          $85,430.26    587   Philadelphia           PA      19131   P
 80.00   A2/6 B30/40   $85,506.90    679   Phoenix                AZ      85051   P
 80.00   IOA2/6        $85,600.00    640   Gloucester             NJ       8030   P
100.00   B15/30        $85,718.03    623   Huntington Beach       CA-S    92646   P
100.00   B15/30        $85,798.49    597   Margate                FL      33063   P
 75.00   A2/6          $85,814.79    502   Dickinson              TX      77539   CO
100.00   B15/30        $85,838.68    777   Lake Elsinore          CA-S    92530   P
100.00   A3/6          $85,872.10    674   Dallas                 TX      75227   RT
 80.00   A2/6          $85,879.02    615   El Paso                TX      79938   P
100.00   B15/30        $85,888.25    682   Rancho Cordova         CA-N    95670   P
 20.09   F15           $85,939.07    625   Maywood                CA-S    90270   CO
100.00   B15/30        $85,958.63    648   Chicago                IL      60639   P
 79.96   A3/6          $86,015.37    568   Cherryville            NC      28021   P
 87.68   F15           $86,084.72    613   Houston                TX      77060   RT
 80.00   F30           $86,181.01    643   Roanoke                VA      24017   CO
 88.07   F30           $86,233.59    604   Edinburg               TX      78539   RT
 90.00   F30           $86,271.49    572   Columbus               OH      43206   CO
 65.00   F30           $86,299.70    571   Houston                TX      77021   CO
 80.00   IOA3/6        $86,499.20    636   Prosser                WA      99350   CO
 85.00   A3/6          $86,570.07    591   Lansing                MI      48910   CO
 61.20   F30           $86,641.46    647   Floral City            FL      34436   CO
100.00   F30           $86,938.29    640   Paterson               NJ       7524   CO
 60.00   A2/6 B30/40   $86,962.68    519   Topeka                 KS      66614   CO
 80.00   F30           $87,043.61    545   Albuquerque            NM      87105   CO
 80.00   A2/6          $87,325.08    622   Redford                MI      48240   P
 79.91   F15           $87,433.68    610   Rowlett                TX      75089   CO
 65.00   IOA3/6        $87,750.00    607   Riverdale              GA      30296   CO
 80.00   A3/6          $87,781.26    528   Killeen                TX      76549   CO
 35.20   A3/6          $87,846.68    559   Pembroke Pines         FL      33024   CO
 80.00   A3/6          $87,846.99    615   Kingwood               TX      77339   P
 80.00   A3/6          $87,871.84    509   Houston                TX      77067   CO
 80.00   A2/6          $87,905.49    609   Eden                   NC      27288   P
 81.48   A2/6          $87,919.96    551   Carter Lake            IA      51510   RT
 80.00   A2/6          $87,945.30    672   Philadelphia           PA      19120   P
 77.88   A2/6 B30/40   $87,946.26    629   Pueblo                 CO      81004   P
 83.81   B30/40        $87,949.26    577   Philadelphia           PA      19134   CO
100.00   B15/30        $88,116.77    632   Buena Park             CA-S    90621   P
 90.00   A2/6 B30/40   $88,164.04    627   Jackson                MI      49201   CO
 79.98   A3/6 B30/40   $88,255.14    647   Haver                  MA       1832   P
 77.39   F20           $88,511.83    607   Chicago                IL      60628   CO
 90.00   A3/6          $88,551.14    580   St Louis               MO      63137   P
100.00   B15/30        $88,574.11    715   Homestead              FL      33033   P
 84.66   A3/6          $88,797.22    526   Orlando                FL      32805   CO
100.00   A3/6          $88,852.77    715   Red Springs            NC      28377   P
 70.00   A2/6          $88,857.63    549   Harrisburg             PA      17109   CO
100.00   B15/30        $88,907.46    670   Los Angeles            CA-S    90042   P
100.00   F30           $88,908.89    627   Lynn                   MA       1902   P
 80.00   A2/6          $88,917.03    787   Hazleton               PA      18201   P
100.00   B15/30        $88,920.06    651   Hemet                  CA-S    92545   P
 67.42   A2/6 B30/40   $88,921.94    580   Caldwell               ID      83607   CO
 85.00   A3/6          $89,035.86    601   Munhall                PA      15120   CO
 85.00   A2/6          $89,044.95    555   Tampa                  FL      33604   P
 90.00   A2/6          $89,136.21    617   Damascus               VA      24236   CO
 85.00   A3/6          $89,152.94    634   Leesburg               FL      34748   P
 80.00   A3/6          $89,178.42    597   York                   PA      17404   P
 90.61   F20           $89,247.14    630   Garland                TX      75040   RT
 89.50   A2/6          $89,377.01    617   Bowling Green          KY      42101   RT
 95.00   A2/6          $89,446.00    641   Hollis                 ME       4042   P
 80.00   F30           $89,468.75    561   Houston                TX      77076   RT
 89.99   A2/6          $89,672.51    696   Pensacola              FL      32505   P
 24.66   F30           $89,730.28    683   Rancho Cucamonga       CA-S    91701   CO
 75.00   A3/6          $89,751.07    557   Dallas                 TX      75253   CO
 90.00   A2/6          $89,826.64    650   University Park        IL      60466   CO
 63.38   A3/6          $89,835.28    633   Chicago                IL      60609   CO
 90.00   A3/6          $89,843.52    607   Hermitage              PA      16148   CO
100.00   F30           $89,843.52    588   Newark                 OH      43055   CO
 75.00   A2/6          $89,852.65    632   Milwaukee              WI      53209   CO
 75.00   A3/6          $89,865.72    621   Tobyhanna              PA      18466   CO
100.00   B15/30        $89,866.45    653   Miami                  FL      33134   P
 90.00   A3/6          $89,897.99    647   Detroit                MI      48219   P
100.00   A3/6          $89,900.49    583   Dalton                 GA      30721   CO
 60.81   A3/6          $89,909.23    595   Jackson                GA      30233   CO
 90.00   A3/6          $89,912.97    525   Little Rock            AR      72205   CO
100.00   B15/30        $89,913.64    651   Santa Ana              CA-S    92703   P
 80.00   A3/6          $89,958.39    765   Redford                MI      48239   P
100.00   B15/30        $90,530.05    809   Of Mira Loma           CA-S    91752   P
 50.00   F30           $90,619.97    604   Hialeah                FL      33018   CO
 75.00   A2/6 B30/40   $90,709.59    586   Momence                IL      60954   CO
 85.00   A2/6          $90,752.82    680   Anderson               IN      46012   CO
 85.00   A3/6          $90,756.40    542   Dover                  DE      19901   CO
100.00   A2/6          $90,848.68    610   Lansing                MI      48915   P
100.00   A2/6          $90,940.79    588   Statesville            NC      28677   P
 55.15   A3/6 B30/40   $90,957.37    613   Tampa                  FL      33610   CO
 79.99   A3/6          $90,973.89    647   Corpus Christi         TX      78418   CO
 80.00   F30           $91,067.85    504   Hobart                 IN      46342   CO
 80.00   A2/6          $91,105.24    611   Ovid                   MI      48866   RT
 80.00   IOA3/6        $91,129.45    628   Loveland               OH      45140   P
 75.00   F30           $91,330.79    608   Dallas                 TX      75227   RT
 75.00   A3/6          $91,397.35    564   Springfield            MA       1109   CO
 80.00   F30           $91,469.90    651   Newstead               NY      14004   P
 78.46   A3/6          $91,656.05    632   Pottstown              PA      19464   RT
 85.00   B30/40        $91,736.19    581   Harvey                 IL      60426   CO
 80.00   A3/6          $91,767.47    681   Dallas                 TX      75224   CO
 65.25   F30           $91,770.20    663   Baton Rouge            LA      70814   CO
100.00   B15/30        $91,823.67    763   La Puente              CA-S    91744   P
 80.00   F30           $91,851.83    504   Tucson                 AZ      85706   CO
100.00   B15/30        $91,865.14    664   Santa Rosa             CA-N    95401   P
 80.00   A2/6          $91,865.73    672   Atlanta                GA      30331   P
 80.00   A2/6          $91,892.08    631   Houston                TX      77084   P
 80.00   A3/6          $91,893.53    586   Detroit                MI      48224   P
 80.00   A2/6          $91,897.52    552   Caldwell               ID      83605   P
 80.00   A2/6          $91,898.38    518   El Paso                TX      79936   CO
 80.00   A3/6          $91,910.27    709   Rockford               IL      61109   P
 80.00   A2/6 B30/40   $91,913.63    613   Cashmere               WA      98815   CO
 68.15   B30/40        $91,940.35    501   Ocala                  FL      34482   CO
 95.00   A2/6          $91,972.34    664   Clarksville            TN      37042   RT
 80.00   A3/6 B30/40   $91,972.91    504   Owensville             MO      65066   CO
 80.00   IOA3/6        $92,000.00    652   Wentzville             MO      63385   P
 72.07   F30           $92,119.56    549   Laplace                LA      70068   CO
 80.00   A2/6          $92,297.62    609   Independence           MO      64055   P
100.00   F30           $92,359.50    704   Fort Worth             TX      76133   P
 85.00   A3/6          $92,526.01    529   Duncanville            TX      75116   RT
 90.00   A3/6          $92,629.14    556   Harrisburg             PA      17110   CO
 80.00   A3/6          $92,670.17    500   Jackson                TN      38305   CO
100.00   B15/30        $92,686.07    662   La Puente Area         CA-S    91744   P
100.00   B15/30        $92,713.14    685   Las Vegas              NV      89110   CO
100.00   B15/30        $92,716.65    653   El Cajon               CA-S    92019   P
 83.00   F30           $92,755.44    637   Lake Charles           LA      70611   CO
 67.88   F30           $92,781.40    593   Rockledge              FL      32955   CO
100.00   F30           $92,818.82    651   Moreno Valley          CA-S    92555   P
 69.92   A3/6          $92,873.95    502   Suffolk                VA      23434   CO
100.00   B15/30        $92,884.31    626   Vista                  CA-S    92083   P
 73.23   A2/6 B30/40   $92,964.60    584   San Luis               AZ      85349   CO
 80.00   A2/6          $93,019.05    588   Eastpointe             MI      48021   P
 85.00   A2/6          $93,279.09    584   Des Moines             IA      50312   RT
 85.00   A3/6          $93,321.35    578   Pittsburgh             PA      15227   RT
 85.00   A3/6          $93,327.48    545   Philadelphia           PA      19143   P
 85.00   A3/6          $93,345.31    565   Sweet Home             OR      97386   CO
 80.00   A2/6          $93,352.69    508   Louisville             KY      40216   P
 85.00   A2/6          $93,381.55    602   Springfield            MO      65802   CO
 89.90   B30/40        $93,435.00    611   Columbus               OH      43207   CO
 95.00   F30           $93,624.55    635   Santa Fe               NM      87508   CO
100.00   B15/30        $93,683.30    622   Vallejo                CA-N    94590   P
 90.00   A2/6          $93,812.88    572   Memphis                TN      38128   P
100.00   B15/30        $93,843.18    669   Chicago                IL      60639   P
 89.52   A3/6          $93,859.88    567   Bowersville            GA      30516   CO
100.00   B15/30        $93,938.94    637   Yorktown               VA      23693   P
 79.97   A2/6          $94,067.93    649   Carrollton             TX      75007   P
 80.00   A2/6          $94,161.82    672   Byron                  GA      31008   P
 75.00   A2/6          $94,258.42    632   Cicero                 IL      60804   CO
 85.00   A3/6          $94,264.19    540   Mcallen                TX      78501   P
 80.00   A2/6          $94,264.70    688   Houston                TX      77080   P
 90.00   F30           $94,308.50    672   Cleburne               TX      76033   RT
 70.00   F30           $94,330.20    562   Laplace                LA      70068   RT
 90.00   A2/6 B30/40   $94,484.70    619   Saint Petersburg       FL      33713   P
 90.00   IOA3/6        $94,500.00    613   Monongahela            PA      15063   CO
 95.00   F30           $94,778.95    583   Clinton                MO      64735   CO
 48.72   A2/6          $94,836.75    646   Arlington              TN      38002   CO
 73.64   A3/6          $94,851.33    613   Kerrville              TX      78028   CO
 52.78   A2/6 B30/40   $94,882.40    541   Lamont                 CA-S    93241   CO
 63.33   A2/6          $94,929.49    579   Milwaukee              WI      53223   CO
 80.00   F30           $95,144.08    662   Hoffman Estates        IL      60194   RT
 90.00   A2/6          $95,312.02    796   Greenwood              SC      29646   P
 80.00   A2/6          $95,495.47    552   Grove City             OH      43123   P
100.00   B15/30        $95,601.69    643   Montclair              CA-S    91763   P
100.00   B15/30        $95,658.15    699   Los Banos              CA-N    93635   P
100.00   B15/30        $95,691.37    669   Los Angeles            CA-S    90003   P
 80.00   A2/6          $95,789.18    637   Wyoming                MI      49548   RT
 80.00   F30           $95,789.32    643   Lakehills              TX      78063   RT
100.00   B15/30        $95,801.61    713   Compton                CA-S    90221   P
 80.00   F30           $95,818.81    644   Savannah               GA      31408   CO
 80.00   A2/6          $95,845.06    527   Phoenix                AZ      85032   P
 80.00   A3/6          $95,864.46    607   Corpus Christi         TX      78414   CO
 80.00   A2/6          $95,865.40    745   Austell                GA      30168   P
 79.99   A3/6          $95,876.23    525   Houston                TX      77072   RT
 80.00   A2/6          $95,891.12    597   Northern Cambria       PA      15714   CO
 80.00   A2/6          $95,900.08    723   Norman                 OK      73069   P
100.00   B15/30        $95,904.81    628   Miami Beach            FL      33141   P
 80.00   A3/6          $95,907.17    505   Detroit                MI      48205   CO
 80.00   A2/6          $95,916.51    564   Wyoming                MI      49509   P
 80.00   A2/6          $95,920.92    672   Esperance              NY      12066   P
 90.00   A2/6          $96,175.50    690   Eastlake               OH      44095   RT
 82.48   F30           $96,279.01    625   Missouri City          TX      77489   RT
 75.00   A2/6          $96,323.81    541   Philadelphia           PA      19120   CO
100.00   F30           $96,588.32    581   Fairview Heights       IL      62208   CO
 65.54   A2/6          $96,748.15    507   Effort                 PA      18330   CO
100.00   F30           $96,831.35    599   Belton                 MO      64012   CO
 66.90   F30           $96,869.78    641   Kunkletown             PA      18058   CO
 84.35   B30/40        $96,933.35    605   Irons                  MI      49644   RT
 90.00   F30           $97,031.01    563   Joliet                 IL      60436   CO
 85.00   F30           $97,211.65    610   Iola                   WI      54945   P
100.00   B15/30        $97,306.54    640   Norwalk                CA-S    90650   P
 75.00   F30           $97,315.62    561   Ferndale               MI      48220   CO
 88.64   F30           $97,327.48    664   Cadillac               MI      49601   RT
100.00   B15/30        $97,337.99    654   Stockton               CA-N    95207   P
 80.00   A2/6          $97,369.53    647   Watervliet             NY      12189   P
 75.00   A3/6          $97,391.27    663   Atlanta                GA      30354   CO
 75.00   A2/6          $97,449.45    596   Wilmington             IL      60481   CO
 80.00   A2/6          $97,498.40    631   Chazy                  NY      12921   P
 90.00   A2/6          $97,510.72    586   Fleetwood              PA      19522   P
 72.41   F30           $97,513.04    540   Detroit                MI      48235   RT
 85.00   A3/6          $97,541.70    605   Lubbock                TX      79423   CO
 85.00   A2/6          $97,679.94    517   Leavenworth            KS      66048   CO
 95.00   A2/6          $97,765.80    573   Fargo                  ND      58103   P
100.00   B15/30        $97,780.34    687   Santa Rosa             CA-N    95407   P
 70.00   F30           $97,780.44    677   San Antonio            TX      78250   CO
100.00   A2/6          $97,867.45    702   Saint Petersburg       FL      33710   P
100.00   B15/30        $97,892.81    772   Oceanside              CA-S    92057   P
 75.00   F30           $98,008.89    561   Carrollton             TX      75006   P
 61.18   A3/6 B30/40   $98,429.33    601   Tampa                  FL      33607   CO
 90.00   A2/6          $98,546.63    614   Deer Island            OR      97054   CO
 95.00   A2/6          $98,645.37    622   Allentown              PA      18102   CO
 80.00   A3/6          $98,652.90    663   Mocksville             NC      27028   P
 90.00   F30           $98,747.44    636   Kansas City            MO      64134   RT
 58.24   F30           $98,767.24    522   Virginia Beach         VA      23452   CO
 80.00   IOA2/6        $98,800.00    602   Effingham              SC      29541   P
 99.00   B15/30        $98,833.89    609   Escondido              CA-S    92026   CO
 81.27   F30           $98,861.66    626   Amarillo               TX      79110   RT
 90.00   A3/6          $98,880.69    576   Saint Louis            MO      63136   P
 80.00   A3/6          $98,913.94    653   Monticello             NY      12701   P
 79.99   A3/6          $98,992.98    646   Winston Saleem         NC      27127   P
 80.00   A3/6          $99,098.89    540   Holland                MI      49423   RT
 79.98   A3/6          $99,307.95    608   Kenneth City           FL      33709   P
 70.00   A3/6          $99,320.63    531   Richmond               VA      23230   CO
 85.00   A2/6          $99,356.63    631   Memphis                TN      38128   P
 74.07   F20           $99,454.84    642   Fort Worth             TX      76115   CO
100.00   B15/30        $99,462.63    675   Wildomar               CA-S    92595   P
 80.00   A2/6          $99,581.51    612   Milan                  TN      38358   P
 99.98   B15/30        $99,666.28    662   Seattle                WA      98125   P
 55.56   A2/6          $99,734.33    515   Hampton                VA      23661   CO
 46.51   A2/6          $99,762.21    654   Phoenix                AZ      85029   CO
 79.98   A3/6          $99,770.84    602   Fort Worth             TX      76123   P
 80.00   A2/6          $99,791.12    654   Austin                 TX      78745   P
 79.99   A3/6          $99,818.11    582   Dallas                 TX      75238   RT
 27.78   F30           $99,847.34    659   Amityville             NY      11701   CO
 80.00   A2/6          $99,851.28    629   Grand Ledge            MI      48837   P
 47.62   A2/6          $99,860.93    621   Middletown             DE      19709   CO
 80.00   F30           $99,861.20    680   Wichita Falls          TX      76310   CO
 64.52   A2/6          $99,868.29    523   Jacksonville           TX      75766   P
100.00   F30           $99,868.59    736   Dorchester             MA       2125   P
 80.00   A2/6          $99,869.12    641   Chicago                IL      60628   P
 49.50   A2/6          $99,870.73    615   Chicago                IL      60629   CO
 69.93   A2/6          $99,873.02    656   Springfield            OR      97477   CO
 80.00   F15           $99,888.94    692   Orion                  IL      61273   CO
 80.00   A2/6          $99,901.22    678   Boise                  ID      83709   P
100.00   B15/30        $99,918.70    643   San Bernardino         CA-S    92407   P
 88.50   A2/6 B30/40   $99,962.28    648   Jacksonville           FL      32218   CO
 80.00   A3/6 B30/40   $99,963.05    523   Montesano              WA      98563   CO
 80.00   A2/6          $99,966.28    583   Belen                  NM      87002   P
 80.00   A3/6 B30/40   $99,967.74    584   Spokane                WA      99207   CO


                                                                  REMAINING               PROPERTY   LIEN     SILENT
CLTV     PRODUCT       BALANCE      DTI BACK   DOCTYPE   RATE     TERM        OCCUPANCY   TYPE       STATUS   SECOND FLAG   MI
------   -----------   ----------   --------   -------   ------   ---------   ---------   --------   ------   -----------   --

100.00   B15/30        $14,773.89      38.69   STD       11.990         174   P           SFR             2   N
100.00   F30           $15,185.85      39.12   STD       12.990         356   P           SFR             2   N
100.00   F30           $15,193.61      43.24   STD       13.400         358   P           SFR             2   N
100.00   B15/30        $16,581.45      45.60   STD       10.840         177   P           SFR             2   N
100.00   F30           $16,781.83      34.98   STD       10.990         357   P           SFR             2   N
100.00   B15/30        $17,918.05      24.01   STD       10.990         173   P           SFR             2   N
 99.95   F30           $19,132.80      48.58   STD        9.950         358   P           SFR             2   N
 99.95   B15/30        $19,177.95      53.63   LIM       12.050         176   P           SFR             2   N
100.00   F15           $20,683.95      37.76   FULL       9.800         174   P           SFR             2   N
 99.95   B15/30        $21,102.67      42.93   STD        9.950         177   P           SFR             2   N
100.00   F30           $22,326.62      49.46   FULL       9.990         355   P           PUD             2   N
100.00   F30           $22,329.62      50.55   FULL       8.500         355   P           SFR             2   N
100.00   F30           $22,444.02      45.60   FULL      10.850         355   P           SFR             2   N
100.00   B15/30        $22,486.76      37.77   FULL      11.900         178   P           SFR             2   N
100.00   F30           $22,551.15      30.15   STD       12.600         355   P           SFR             2   N
100.00   F30           $22,717.59      45.33   STD        9.500         355   P           SFR             2   N
100.00   B15/30        $22,987.73      49.72   STD       12.340         178   P           SFR             2   N
 99.96   F30           $23,528.85      46.60   STD        9.950         358   P           SFR             2   N
100.00   F30           $23,565.43      48.97   STD       10.940         356   P           SFR             2   N
100.00   F30           $23,578.80      36.60   STD        9.950         358   P           SFR             2   N
 99.97   F30           $23,667.94      44.75   STD        9.950         357   P           SFR             2   N
100.00   B15/30        $23,770.45      49.43   LIM       10.350         177   P           SFR             2   N
100.00   F15           $23,824.04      48.81   LIM        9.950         177   P           SFR             2   N
100.00   F30           $23,874.06      49.99   FULL       9.990         355   P           SFR             2   N
100.00   B15/30        $24,333.29      41.11   FULL      10.750         175   P           SFR             2   N
 99.98   F30           $24,504.58      43.00   STD        9.850         356   P           SFR             2   N
 95.00   B15/30        $24,718.52      54.87   FULL      11.590         176   P           SFR             2   N
100.00   F30           $24,969.71      46.39   FULL      12.840         355   P           SFR             2   N
100.00   B15/30        $24,981.02      35.09   STD       12.600         177   P           SFR             2   N
100.00   B15/30        $24,983.04      45.30   FULL      13.100         177   P           SFR             2   N
100.00   B15/30        $24,986.82      50.53   STD       12.390         178   P           SFR             2   N
 99.96   F30           $25,418.00      22.06   FULL      11.640         356   P           SFR             2   N
100.00   B15/30        $25,785.29      24.35   STD       12.040         178   P           SFR             2   N
100.00   B15/30        $25,962.96      54.48   LIM       13.250         177   P           SFR             2   N
100.00   B15/30        $25,967.23      23.64   LIM       13.500         174   P           SFR             2   N
 16.97   F30           $26,276.15      31.07   FULL      11.800         357   P           SFR             1   N
100.00   F30           $26,382.86      33.53   STD       13.290         357   P           SFR             2   N
100.00   B15/30        $26,565.24      38.01   LIM       12.500         175   P           SFR             2   N
100.00   B15/30        $26,584.99      43.97   STD       12.090         178   P           SFR             2   N
100.00   F30           $26,890.59      38.45   STD        9.800         353   P           PUD             2   N
100.00   F30           $26,941.07      31.86   FULL      11.750         353   P           SFR             2   N
 99.96   B15/30        $27,114.75      41.80   STD       10.140         177   P           SFR             2   N
100.00   F30           $27,175.57      48.95   STD        9.950         358   P           SFR             2   N
100.00   F30           $27,485.12      49.16   FULL       9.990         354   P           SFR             2   N
100.00   F30           $27,763.87      30.29   FULL      11.490         356   P           SFR             2   N
100.00   B15/30        $27,864.49      42.75   STD       12.000         176   P           SFR             2   N
100.00   F30           $27,957.15      49.70   STD       10.890         356   P           SFR             2   N
100.00   B15/30        $28,348.57      51.61   FULL       9.950         176   P           SFR             2   N
100.00   F30           $28,361.59      46.52   STD        9.950         357   P           SFR             2   N
100.00   B15/30        $28,977.29      47.05   STD       10.590         178   P           SFR             2   N
100.00   F30           $29,188.01      40.70   STD       13.500         358   P           CO              2   N
100.00   F20           $29,209.36      36.03   FULL      11.700         231   P           CO              2   N
100.00   B15/30        $29,370.32      48.72   FULL      12.630         176   P           CO              2   N
100.00   B15/30        $29,553.10      48.54   FULL      11.625         175   P           CO              2   N
100.00   B15/30        $29,759.18      30.13   LIM       11.250         176   P           CO              2   N
 99.99   B15/30        $29,909.49      42.24   STD        9.950         177   P           SFR             2   N
 93.66   B15/30        $29,934.21      46.77   STD       12.390         178   P           SFR             2   N
100.00   B15/30        $29,956.13      25.54   FULL      11.990         175   P           SFR             2   N
100.00   B15/30        $29,972.22      41.14   LIM       11.700         177   P           SFR             2   N
100.00   F30           $30,164.73      46.47   STD       13.000         355   P           SFR             2   N
100.00   B15/30        $30,314.39      45.57   STD       11.800         171   P           PUD             2   N
100.00   F30           $30,558.61      36.08   FULL       9.950         357   P           SFR             2   N
100.00   B15/30        $30,777.89      41.49   LIM       10.990         178   P           CO              2   N
100.00   F20           $30,872.59      49.53   STD       11.990         236   P           SFR             2   N
100.00   B15/30        $31,165.52      48.86   FULL      10.890         177   P           SFR             2   N
100.00   B15/30        $31,386.79      44.16   STD       13.390         178   P           SFR             2   N
100.00   F30           $31,544.25      39.50   FULL      11.990         354   P           SFR             2   N
100.00   F30           $31,551.28      41.95   STD       11.750         355   P           SFR             2   N
 61.54   F30           $31,932.86      18.81   FULL       9.250         356   P           SFR             1   N
100.00   B15/30        $31,937.21      45.89   STD       10.640         175   P           SFR             2   N
100.00   B15/30        $31,951.60      31.81   STD       13.440         173   P           SFR             2   N
100.00   B15/30        $31,961.89      46.43   LIM       13.750         174   P           CO              2   N
100.00   B15/30        $31,968.61      34.30   STD       11.440         177   P           CO              2   N
 80.00   A2/6          $31,973.32      17.80   FULL      10.300         358   P           SFR             1   N
 94.99   B15/30        $32,314.06      41.17   FULL      12.200         176   P           CO              2   N
100.00   F30           $32,341.37      42.92   STD       11.875         354   P           SFR             2   N
100.00   B15/30        $32,364.38      44.46   LIM       12.250         176   P           SFR             2   N
 99.97   B15/30        $32,376.23      29.49   FULL      10.890         178   P           SFR             2   N
100.00   F30           $32,778.71      47.03   STD       13.290         357   P           TH              2   N
100.00   F30           $32,955.37      36.17   STD        9.950         357   P           SFR             2   N
100.00   B15/30        $32,979.00      49.22   STD       11.540         178   P           SFR             2   N
100.00   F30           $33,170.56      46.26   STD       11.900         357   P           SFR             2   N
 99.94   B15/30        $33,569.84      44.95   STD        9.950         178   P           SFR             2   N
100.00   B15/30        $33,574.53      49.82   STD       10.740         178   P           SFR             2   N
 90.00   B15/30        $33,955.90      49.81   STD       11.500         176   I           SFR             2   N
100.00   F30           $33,985.36      49.42   STD       13.290         358   P           SFR             2   N
 90.00   A2/6          $34,150.09      26.62   FULL       9.590         357   P           SFR             1   N
100.00   F30           $34,627.49      42.10   STD       13.290         357   P           SFR             2   N
 80.00   F30           $34,758.67      33.04   FULL      11.990         357   P           SFR             1   N
100.00   B15/30        $34,948.72      31.45   STD       10.940         176   P           SFR             2   N
100.00   B15/30        $34,952.46      43.13   FULL      11.290         176   P           SFR             2   N
100.00   B15/30        $34,957.40      42.47   STD       11.790         176   P           SFR             2   N
100.00   B15/30        $34,965.95      35.01   STD       12.800         176   P           SFR             2   N
100.00   B15/30        $34,975.66      37.02   STD       12.990         177   P           SFR             2   N
100.00   B15/30        $34,976.23      40.39   STD       13.090         177   P           SFR             2   N
 45.16   A5/6          $34,979.22      10.18   FULL       8.600         359   P           SFR             1   N
 99.98   B15/30        $35,277.58      44.73   STD       13.390         177   P           TH              2   N
100.00   B15/30        $35,565.74      26.49   STD       11.525         177   P           SFR             2   N
100.00   B15/30        $35,878.89      33.81   FULL      10.425         173   P           CO              2   N
 99.97   B15/30        $35,894.99      42.70   LIM       10.740         176   P           SFR             2   N
100.00   B15/30        $35,934.61      47.14   LIM       11.000         175   P           SFR             2   N
100.00   B15/30        $35,947.24      26.93   STD       11.540         177   P           SFR             2   N
100.00   B15/30        $35,966.46      45.01   STD       12.990         176   P           SFR             2   N
100.00   F30           $35,981.44      44.63   STD       12.490         358   P           SFR             2   N
 80.00   F30           $35,990.84      37.15   FULL      12.530         359   P           SFR             1   N
100.00   F30           $36,118.43      35.74   FULL       9.990         355   P           PUD             2   N
100.00   B15/30        $36,260.31      38.93   STD       12.275         176   P           2F              2   N
100.00   F20           $36,905.47      38.18   STD       13.340         237   P           SFR             2   N
100.00   B15/30        $36,919.87      48.13   STD       11.050         174   P           PUD             2   N
100.00   B15/30        $36,937.58      38.60   STD       11.340         175   P           CO              2   N
100.00   B15/30        $36,964.34      53.62   STD       13.850         175   P           2F              2   N
100.00   B15/30        $36,964.49      39.06   STD       11.540         177   P           SFR             2   N
100.00   B15/30        $36,967.03      40.19   STD       13.190         176   P           SFR             2   N
100.00   B15/30        $36,967.78      30.75   STD       13.290         176   P           SFR             2   N
100.00   B15/30        $37,064.78      46.69   STD       11.590         177   P           SFR             2   N
100.00   F30           $37,148.48      45.90   FULL      12.100         357   P           CO              2   N
100.00   B15/30        $37,171.61      48.24   STD       12.575         177   P           CO              2   N
 99.95   F30           $37,532.48      44.98   FULL       9.990         356   P           SFR             2   N
100.00   B15/30        $37,551.67      45.78   LIM       10.190         177   P           SFR             2   N
100.00   B15/30        $37,766.33      44.93   LIM       12.125         175   P           PUD             2   N
100.00   B15/30        $37,770.40      47.12   STD       10.590         178   P           SFR             2   N
100.00   B15/30        $37,929.73      37.86   STD        9.850         176   P           SFR             2   N
 46.91   B30/40        $37,965.67      30.52   FULL       8.850         356   P           SFR             1   N
 90.00   A2/6          $38,231.17      24.65   STD       12.700         358   I           SFR             1   N
 90.00   A2/6          $38,231.17      24.68   STD       12.700         358   I           SFR             1   N
100.00   B15/30        $38,340.00      40.11   STD       11.690         175   P           SFR             2   N
100.00   B15/30        $38,373.31      46.60   STD       12.990         177   P           SFR             2   N
100.00   F30           $38,891.54      45.48   FULL      10.625         353   P           CO              2   N
100.00   B15/30        $38,973.77      44.71   STD       11.290         178   P           TH              2   N
100.00   B15/30        $39,167.49      32.92   LIM       12.200         177   P           SFR             2   N
 94.92   F30           $39,356.80      20.92   FULL       9.000         358   P           SFR             2   N
100.00   B15/30        $39,885.33      18.66   FULL      10.790         175   P           SFR             2   N
100.00   B15/30        $39,911.61      45.91   STD       11.690         173   P           SFR             2   N
 68.97   A3/6          $39,945.05      48.37   FULL       7.900         358   I           SFR             1   N
 93.42   F30           $39,950.23      48.23   FULL      11.690         356   P           SFR             2   N
 80.00   A2/6          $39,955.37      17.88   FULL      10.850         357   I           SFR             1   N
100.00   A2/6          $39,964.13      47.14   STD       11.850         357   P           SFR             1   N
100.00   B15/30        $40,385.17      30.57   STD       13.990         178   P           3F              2   N
 61.55   F20           $40,512.39      39.85   FULL       9.637         238   P           SFR             1   N
100.00   B15/30        $40,561.04      46.18   STD       11.540         177   P           SFR             2   N
100.00   B15/30        $40,573.63      48.09   STD       13.290         177   P           SFR             2   N
 54.93   F30           $40,603.06      31.75   STD        8.750         358   I           SFR             1   N
 68.00   F20           $40,606.44      35.41   FULL       8.625         237   P           SFR             1   N
 95.00   A2/6          $40,694.35      37.55   FULL       9.500         357   I           SFR             1   N
 95.00   A2/6          $40,785.96      40.16   FULL       9.250         357   I           SFR             1   N
 99.96   B15/30        $40,816.79      48.68   STD       12.290         177   P           SFR             2   N
100.00   F30           $40,950.70      39.92   STD       10.500         357   P           SFR             2   N
 85.00   F15           $40,951.13      36.81   FULL      11.025         177   P           SFR             1   N
100.00   B15/30        $40,960.66      40.17   STD       11.540         177   P           SFR             2   N
100.00   B15/30        $40,964.36      49.88   STD       11.990         177   P           SFR             2   N
100.00   B15/30        $40,965.03      38.26   FULL      10.190         178   P           SFR             2   N
100.00   F30           $40,979.33      33.27   FULL      12.590         358   P           3F              2   N
 70.00   A2/6          $41,061.79      44.58   STD        8.875         357   I           SFR             1   N
100.00   F30           $41,144.27      49.97   STD        9.950         357   P           SFR             2   N
100.00   B15/30        $41,173.77      30.59   STD       11.540         178   P           SFR             2   N
100.00   B15/30        $41,456.18      39.65   FULL       9.890         176   P           SFR             2   N
100.00   F30           $41,763.67      48.24   STD       11.990         357   P           SFR             2   N
100.00   F30           $41,943.19      15.93   STD        9.950         357   P           PUD             2   N
100.00   B15/30        $41,962.28      40.03   STD       11.840         177   P           SFR             2   N
 68.85   A2/6          $41,966.09      22.93   STD       10.450         358   P           SFR             1   N
 95.00   F30           $41,975.26      41.34   FULL      11.890         358   P           SFR             2   N
 99.98   F20           $42,096.64      49.45   STD       10.590         238   P           SFR             2   N
 85.00   F30           $42,316.32      40.73   FULL       8.750         356   I           SFR             1   N
100.00   B15/30        $42,701.93      54.08   FULL      11.040         175   P           SFR             2   N
100.00   F30           $42,905.87      37.37   FULL      11.000         354   P           SFR             2   N
100.00   B15/30        $42,922.89      49.00   STD       12.000         174   P           SFR             2   N
100.00   F30           $42,954.81      38.15   STD       11.125         357   P           SFR             2   N
100.00   B15/30        $42,972.08      43.69   STD       13.290         177   P           SFR             2   N
100.00   B15/30        $43,161.19      46.95   STD       11.840         177   P           SFR             2   N
100.00   B15/30        $43,542.22      54.35   FULL      11.400         176   P           SFR             2   N
100.00   B15/30        $43,546.12      45.98   LIM       12.750         175   P           PUD             2   N
 77.19   F30           $43,861.29      45.58   FULL       8.375         355   I           SFR             1   N
100.00   F30           $43,940.48      22.06   STD        9.950         357   P           SFR             2   N
100.00   B15/30        $43,954.08      45.14   LIM       13.500         175   P           SFR             2   N
100.00   F30           $44,351.95      43.92   FULL      10.990         357   P           SFR             2   N
 18.33   A2/6          $44,731.64      47.11   FULL       7.600         355   P           SFR             1   N
 99.98   B15/30        $44,823.34      46.57   STD       11.850         178   P           SFR             2   N
100.00   B15/30        $44,871.61      42.08   FULL      11.150         172   P           SFR             2   N
100.00   B15/30        $44,872.65      39.01   STD       11.740         178   P           SFR             2   N
 90.00   A3/6          $44,925.79      37.64   FULL      10.390         356   P           SFR             1   N
100.00   B15/30        $44,944.63      43.33   STD       11.740         176   P           SFR             2   N
100.00   B15/30        $44,956.81      40.47   STD       11.540         177   P           SFR             2   N
100.00   B15/30        $44,958.68      46.62   STD       11.740         177   P           SFR             2   N
100.00   F30           $45,291.80      36.53   FULL      11.550         354   S           SFR             2   N
 94.97   B15/30        $45,339.23      37.66   STD       10.000         177   S           SFR             2   N
 84.69   A2/6          $45,656.05      36.31   FULL       9.100         357   P           SFR             1   N
 95.00   B15/30        $45,715.33      43.55   STD       10.740         178   P           TH              2   N
100.00   F30           $45,756.07      38.43   STD       12.890         356   P           SFR             2   N
 61.33   F15           $45,772.97      23.06   FULL       9.799         178   P           SFR             1   N
100.00   B15/30        $45,881.23      37.28   STD       11.750         175   P           PUD             2   N
 99.98   B15/30        $45,925.76      47.55   STD       12.390         178   P           SFR             2   N
100.00   B15/30        $45,968.74      47.61   STD       13.090         177   P           SFR             2   N
100.00   B15/30        $45,970.71      52.00   STD       11.540         178   P           CO              2   N
100.00   B15/30        $45,977.62      46.34   STD       12.750         178   P           SFR             2   N
 79.97   A2/6          $46,235.22      40.12   FULL       9.790         357   P           SFR             1   N
 89.98   A3/6          $46,621.95      26.65   FULL       8.940         357   I           SFR             1   N
100.00   B15/30        $46,914.46      37.01   STD       10.990         175   P           SFR             2   N
100.00   B15/30        $46,933.77      47.77   LIM       13.000         174   P           CO              2   N
100.00   B15/30        $46,940.36      47.78   LIM       10.250         177   P           SFR             2   N
100.00   B15/30        $46,948.62      39.26   STD       10.990         177   P           SFR             2   N
100.00   B15/30        $46,953.39      50.72   FULL      11.390         177   P           SFR             2   N
100.00   B15/30        $47,162.32      47.90   STD       10.500         178   P           SFR             2   N
 75.00   A2/6          $47,209.71      21.04   FULL      12.075         357   P           SFR             1   N
100.00   B15/30        $47,330.66      47.52   STD       11.990         175   P           SFR             2   N
100.00   F30           $47,365.97      48.86   STD       10.990         358   P           CO              2   N
 89.06   B15/30        $47,465.91      35.80   STD       10.990         178   P           SFR             2   N
100.00   F30           $47,465.96      21.87   FULL      11.000         358   P           CO              1   N
 80.00   F10           $47,536.05      39.66   STD       10.250         118   P           SFR             1   N
100.00   B15/30        $47,549.04      49.63   STD       11.040         177   P           SFR             2   N
 90.00   F30           $47,670.60      20.55   STD       13.525         357   I           2F              1   N
 80.00   A3/6          $47,924.75      43.31   FULL       9.250         357   P           SFR             1   Y
 80.00   A3/6          $47,932.13      44.78   STD        9.740         357   I           SFR             1   N
100.00   B15/30        $47,936.98      46.56   FULL      10.090         177   P           SFR             2   N
100.00   F30           $47,937.10      43.18   STD       10.100         357   P           SFR             2   N
100.00   F30           $47,962.35      26.73   FULL      12.450         357   P           SFR             2   N
 80.00   A2/6          $47,967.07      40.84   STD       11.200         358   I           SFR             1   N
100.00   B15/30        $48,042.61      37.86   STD       12.900         173   P           SFR             2   N
 99.98   B15/30        $48,133.96      45.69   FULL       9.890         177   P           SFR             2   N
100.00   B15/30        $48,221.33      31.25   STD       11.500         175   P           SFR             2   N
100.00   F30           $48,352.12      54.95   FULL      11.400         357   P           SFR             2   N
100.00   F30           $48,364.46      47.49   STD       14.040         356   P           3F              2   N
 85.00   F30           $48,412.34      31.49   FULL      10.625         358   P           SFR             1   N
 99.98   B15/30        $48,466.29      48.84   STD       12.990         177   P           SFR             2   N
 99.98   B15/30        $48,518.46      49.20   STD       13.290         177   P           SFR             2   N
100.00   B15/30        $48,743.32      38.35   STD       12.000         176   P           SFR             2   N
100.00   B15/30        $48,892.09      58.54   FULL      10.100         175   P           CO              2   N
100.00   F30           $49,156.28      41.48   LIM       10.000         358   P           SFR             2   N
 85.00   F30           $49,243.15      41.73   FULL       8.759         358   P           SFR             1   N
 85.00   A3/6          $49,275.74      40.98   FULL       9.500         359   P           SFR             1   N
 95.00   B15/30        $49,305.98      35.72   STD       10.750         170   P           SFR             2   N
 75.00   F15           $49,484.74      53.62   FULL       9.250         177   P           SFR             1   N
 78.13   F15           $49,591.32      31.60   FULL       8.750         177   P           SFR             1   N
 70.00   F25           $49,639.85      40.94   STD       11.300         298   P           SFR             1   N
 40.00   A2/6          $49,824.21      30.14   FULL       8.750         354   P           CO              1   N
 83.33   A3/6          $49,871.75      39.40   FULL       9.375         355   P           SFR             1   N
 58.82   F30           $49,883.62      26.09   FULL       8.750         356   P           SFR             1   N
100.00   F30           $49,885.05      41.19   STD       12.375         353   P           SFR             2   N
100.00   B15/30        $49,891.15      45.85   STD       11.790         173   P           SFR             2   N
 80.00   F30           $49,899.97      26.53   FULL      10.550         355   P           SFR             1   Y
100.00   B15/30        $49,905.76      52.14   FULL      11.690         174   P           SFR             2   N
 79.49   A2/6          $49,926.87      54.92   STD       10.825         352   P           SFR             1   N
 83.33   F30           $49,936.65      23.75   FULL       8.300         358   P           SFR             1   N
 72.05   F30           $49,937.25      25.12   FULL       9.850         358   P           SFR             1   N
100.00   B15/30        $49,945.30      44.27   STD       10.940         177   P           SFR             2   N
 81.30   F30           $49,947.95      33.64   FULL       9.250         358   P           SFR             1   N
100.00   F30           $49,949.60      50.38   STD       12.640         356   P           SFR             2   N
100.00   B15/30        $49,952.03      41.27   STD       11.540         177   P           CO              2   N
 73.07   A3/6          $49,956.50      33.30   FULL       8.400         357   P           SFR             1   N
 85.00   A2/6          $50,111.35      37.26   STD       12.530         357   I           SFR             1   N
 44.00   A2/6          $50,127.23      26.66   STD       11.425         358   P           SFR             1   N
 90.00   F30           $50,251.36      52.48   FULL       8.700         355   I           SFR             1   N
 80.00   F30           $50,292.48      48.85   FULL      10.250         355   I           SFR             1   N
 80.00   A2/6          $50,295.35      16.85   STD        9.300         356   I           SFR             1   N
100.00   B15/30        $50,309.30      53.31   FULL      11.040         175   P           SFR             2   N
 80.00   A2/6          $50,340.57      39.41   FULL       8.650         358   P           SFR             1   Y
100.00   B15/30        $50,367.27      48.07   STD       13.290         177   P           SFR             2   N
100.00   B15/30        $50,747.68      44.76   FULL      12.400         177   P           SFR             2   N
 80.00   A2/6          $50,757.21      30.53   FULL      10.250         358   P           2F              1   N
 85.00   A3/6          $50,906.16      32.88   FULL       9.875         356   P           SFR             1   N
 85.00   A2/6          $50,920.06      42.21   FULL       9.250         357   I           SFR             1   N
 85.00   A2/6          $50,935.27      41.17   FULL      10.250         357   I           SFR             1   N
 72.86   A2/6          $50,945.21       8.03   STD        9.100         358   I           SFR             1   N
 75.00   F30           $50,957.11      33.05   STD       10.259         358   P           SFR             1   N
100.00   B15/30        $50,963.77      33.00   STD       11.040         178   P           SFR             2   N
100.00   B15/30        $50,972.25      33.14   FULL      12.250         178   P           CO              2   N
100.00   B15/30        $51,167.41      49.12   STD       11.540         178   P           SFR             2   N
100.00   B15/30        $51,272.33      49.61   STD       12.290         178   P           SFR             2   N
 90.00   A2/6 B30/40   $51,272.93      45.45   FULL       9.675         357   I           SFR             1   N
 80.00   F15           $51,301.91      30.69   STD        8.990         175   I           2F              1   N
100.00   B15/30        $51,343.77      30.82   STD       10.940         177   P           SFR             2   N
100.00   B15/30        $51,573.44      48.81   STD       12.500         178   P           SFR             2   N
100.00   B15/30        $51,650.39      46.47   STD       11.540         177   P           SFR             2   N
 56.52   F30           $51,904.81      38.79   FULL       8.500         357   P           SFR             1   N
 80.00   A3/6          $51,910.53      44.78   STD        8.800         357   P           SFR             1   N
100.00   B15/30        $51,911.67      44.70   LIM       10.250         176   P           SFR             2   N
100.00   F30           $51,915.90      45.63   STD       10.000         354   P           PUD             2   N
 78.79   A2/6          $51,920.59      40.88   STD       10.750         356   P           SFR             1   N
100.00   B15/30        $51,932.44      50.50   STD       11.490         176   P           SFR             2   N
100.00   B15/30        $51,937.90      49.38   FULL      11.875         176   P           SFR             2   N
100.00   B15/30        $51,943.13      39.60   STD       10.940         177   P           SFR             2   N
 80.00   F30           $51,950.74      36.49   FULL       9.699         358   P           SFR             1   N
 52.00   F30           $51,951.80      16.66   FULL       9.800         358   P           SFR             1   N
100.00   B15/30        $51,952.26      48.28   STD       11.740         177   P           SFR             2   N
 80.00   A2/6 B30/40   $51,958.76      12.86   STD        8.300         357   P           PUD             1   Y
100.00   B15/30        $51,961.43      41.66   STD       10.840         178   P           CO              2   N
100.00   F30           $51,963.13      46.85   STD       12.900         357   P           SFR             2   N
100.00   B15/30        $52,336.85      42.73   FULL      10.490         177   P           SFR             2   N
100.00   B15/30        $52,375.85      44.35   STD       12.990         178   P           SFR             2   N
 70.00   A2/6          $52,425.70      38.29   STD       11.100         356   P           SFR             1   N
 75.00   A2/6          $52,478.91      32.55   FULL      10.450         359   P           SFR             1   N
 80.00   F30           $52,719.63      35.11   FULL       9.390         357   P           SFR             1   N
 80.00   A2/6 B30/40   $52,793.61      37.38   STD       10.875         359   P           SFR             1   Y
100.00   B15/30        $52,917.20      48.72   STD       11.690         175   P           SFR             2   N
100.00   B15/30        $52,939.46      49.23   STD       10.740         177   P           SFR             2   N
100.00   B15/30        $53,141.23      39.45   STD       11.375         172   P           SFR             2   N
100.00   B15/30        $53,361.66      48.96   STD       10.990         178   P           SFR             2   N
 85.00   F30           $53,476.38      45.04   FULL       9.875         357   P           SFR             1   N
 90.00   A2/6          $53,928.48      42.33   FULL      10.050         357   I           SFR             1   N
 90.00   A3/6          $53,944.85      27.55   FULL       9.340         358   I           TH              1   N
100.00   B15/30        $53,958.47      39.92   STD       12.540         177   P           4F              2   N
100.00   B15/30        $53,970.55      46.48   STD       12.240         178   P           SFR             2   N
100.00   B15/30        $54,897.74      43.18   STD       10.890         175   P           SFR             2   N
 73.23   F30           $54,897.98      28.16   FULL       9.499         359   P           SFR             1   N
100.00   B15/30        $54,910.41      37.61   STD       11.500         175   P           SFR             2   N
 74.32   A2/6 B30/40   $54,915.98      36.04   FULL       9.900         351   P           SFR             1   N
100.00   B15/30        $54,929.64      43.01   STD       11.750         177   P           SFR             2   N
100.00   B15/30        $54,950.61      45.63   STD       11.840         177   P           SFR             2   N
100.00   F30           $54,951.24      40.58   STD       11.900         357   P           SFR             2   N
 99.82   F30           $54,956.28      49.81   STD       12.390         357   P           SFR             2   N
100.00   B15/30        $54,964.28      40.03   STD       13.290         177   P           SFR             2   N
 95.00   A2/6          $55,023.07      49.57   FULL       9.800         357   P           SFR             1   N
 85.00   A3/6          $55,224.89      45.61   FULL       9.875         359   P           SFR             1   N
 99.96   B15/30        $55,351.88      49.99   STD       11.990         177   P           SFR             2   N
100.00   B15/30        $55,531.76      43.33   STD       11.750         176   P           SFR             2   N
 90.00   A2/6          $55,724.38      43.66   STD        9.940         357   I           SFR             1   N
100.00   B15/30        $55,735.04      52.99   STD       10.650         177   P           SFR             2   N
 80.00   A2/6          $55,864.40      48.11   FULL       9.650         355   P           SFR             1   Y
 80.00   F30           $55,870.16      25.11   STD        9.750         357   P           SFR             1   Y
 70.00   F30           $55,899.43      19.11   FULL       9.990         356   P           SFR             1   N
100.00   B15/30        $55,935.65      46.44   STD       12.050         176   P           SFR             2   N
 80.00   A2/6          $55,949.70      17.48   STD        9.950         358   P           SFR             1   N
 80.00   A3/6          $55,974.24      42.33   STD       12.999         358   I           2F              1   N
 75.00   F30           $55,982.61      37.19   FULL      10.750         358   P           SFR             1   N
 90.00   A2/6          $56,163.17      48.70   FULL      10.700         356   I           2F              1   N
100.00   B15/30        $56,330.70      30.25   STD       10.400         177   P           SFR             2   N
 80.00   A2/6          $56,456.39      21.20   FULL       8.125         351   P           SFR             1   Y
 95.00   B15/30        $56,498.19      44.68   STD       11.750         177   S           SFR             2   N
100.00   B15/30        $56,566.34      48.62   STD       11.850         178   P           SFR             2   N
100.00   B15/30        $56,569.48      49.90   STD       12.290         178   P           SFR             2   N
 89.90   A2/6          $56,586.56      23.44   STD        9.990         358   P           CO              1   N
 80.00   A2/6          $56,705.51      43.55   FULL      10.350         356   P           SFR             1   Y
 95.00   A2/6          $56,905.88      41.88   FULL       9.000         357   I           SFR             1   N
100.00   B15/30        $56,955.37      39.70   FULL      10.590         178   P           CO              2   N
 76.76   F30           $57,514.95      35.89   FULL      11.725         357   I           SFR             1   N
 90.00   A2/6          $57,555.38      41.84   FULL      10.640         358   I           SFR             1   Y
 94.84   F30           $57,714.18      17.20   FULL       9.400         355   P           SFR             1   N
100.00   B15/30        $57,732.71      49.81   STD       11.990         176   P           SFR             2   N
 80.00   F30           $57,748.84      30.64   FULL      10.600         356   P           SFR             1   Y
 65.17   F30           $57,867.82      47.95   FULL       7.415         357   P           SFR             1   N
 95.00   A2/6          $57,880.97       8.42   FULL       8.600         358   P           2F              1   N
 80.00   A3/6          $57,901.63      34.74   FULL      10.259         356   P           SFR             1   Y
100.00   B15/30        $57,913.93      30.14   STD       10.750         177   P           SFR             2   N
100.00   B15/30        $57,930.85      46.03   FULL      10.540         177   P           SFR             2   N
 46.40   A2/6          $57,934.72      41.48   STD        8.875         358   P           CO              1   N
 63.44   F10           $58,039.35      19.86   FULL       8.250         117   P           SFR             1   N
 80.00   F30           $58,308.45      43.79   FULL       9.250         357   P           SFR             1   N
100.00   B15/30        $58,320.86      45.79   LIM        9.940         177   P           CO              2   N
100.00   B15/30        $58,618.39      41.64   STD       11.350         171   P           SFR             2   N
 99.85   B15/30        $58,892.93      39.72   STD       12.840         176   P           3F              2   N
100.00   B15/30        $58,909.76      43.56   STD       10.740         176   P           SFR             2   N
100.00   B15/30        $58,928.13      53.22   LIM       10.440         177   P           SFR             2   N
100.00   B15/30        $58,945.83      49.64   STD       11.740         177   P           SFR             2   N
 91.00   A3/6          $59,047.17      26.88   FULL       8.750         357   P           SFR             1   N
 75.00   A2/6          $59,071.55      28.60   STD       10.250         353   P           SFR             1   N
100.00   B15/30        $59,098.60      44.93   STD       11.990         177   P           SFR             2   N
 80.00   A3/6          $59,145.70      39.71   FULL       9.850         358   P           SFR             1   Y
 80.00   A2/6 B30/40   $59,160.64      33.37   FULL       8.900         357   P           SFR             1   Y
 95.00   A2/6          $59,228.22      38.30   STD        9.550         355   I           SFR             1   N
100.00   B15/30        $59,339.62      48.72   STD       12.600         176   P           SFR             2   N
100.00   B15/30        $59,432.20      40.59   STD       10.750         177   P           SFR             2   N
 70.00   A2/6          $59,452.50      48.09   FULL      10.500         358   I           SFR             1   N
 58.25   F15           $59,663.87      26.22   FULL       8.390         178   P           SFR             1   N
100.00   B15/30        $59,730.53      48.76   STD       12.000         176   P           SFR             2   N
 75.00   A2/6          $59,737.38      22.44   FULL       7.690         354   P           SFR             1   N
 90.00   A2/6 B30/40   $59,749.17      31.15   FULL       9.550         359   I           CO              1   Y
 40.00   A2/6          $59,749.43      47.15   FULL       7.900         354   P           CO              1   N
 75.00   A2/6          $59,835.78      49.80   FULL      10.700         353   P           SFR             1   N
100.00   B15/30        $59,856.75      47.18   STD       13.300         172   P           SFR             2   N
100.00   A2/6          $59,862.11      26.32   FULL      10.775         354   P           SFR             1   N
 80.00   A2/6          $59,872.76      39.57   FULL       7.775         357   P           SFR             1   Y
 80.00   A2/6          $59,879.41      25.13   FULL       8.040         357   P           SFR             1   Y
 75.00   A2/6          $59,892.27      51.63   FULL       9.990         356   P           SFR             1   N
100.00   B15/30        $59,892.83      38.52   FULL      10.015         176   P           2F              2   N
 80.00   A2/6          $59,908.39      48.83   FULL       9.375         357   P           SFR             1   Y
 80.00   A2/6          $59,911.10      45.13   STD        7.525         358   P           SFR             1   Y
 80.00   A2/6          $59,913.72      47.39   FULL       7.675         358   P           SFR             1   Y
 67.42   F30           $59,922.82       9.89   FULL       8.225         358   P           SFR             1   N
 80.00   A2/6          $59,925.52      21.49   FULL       8.400         358   S           SFR             1   Y
100.00   B15/30        $59,932.84      49.14   STD       13.190         175   P           CO              2   N
100.00   A3/6          $59,944.25      39.44   FULL       9.790         358   P           SFR             1   N
100.00   B15/30        $59,945.32      32.34   STD       11.775         177   P           SFR             2   N
 80.00   A3/6          $59,951.59      25.01   FULL      10.450         358   P           SFR             1   N
 52.17   A2/6          $59,961.74      43.64   STD        8.250         359   P           SFR             1   N
100.00   B15/30        $59,968.61      47.49   STD       14.240         177   P           3F              2   N
 85.00   A2/6          $60,177.58      37.26   FULL       9.750         354   P           SFR             1   N
 79.97   A2/6          $60,633.30      42.78   STD        8.990         358   P           SFR             1   Y
 95.00   A2/6          $60,675.74      37.73   STD       10.450         355   P           CO              1   N
 80.00   A2/6          $60,738.03      43.24   STD        9.350         358   P           SFR             1   N
 80.00   A2/6 B30/40   $60,769.77      30.59   STD        8.500         358   P           CO              1   Y
 41.50   A2/6          $60,901.34      28.24   FULL       9.100         357   P           SFR             1   N
100.00   B15/30        $60,928.99      49.92   STD       11.990         176   P           SFR             2   N
100.00   B15/30        $60,948.17      49.42   STD       12.090         177   P           SFR             2   N
 71.76   F30           $60,957.00      31.98   STD       11.075         358   I           SFR             1   N
 90.00   F30           $61,038.06      45.35   FULL       9.225         355   P           SFR             1   N
 85.00   A2/6          $61,090.08      16.04   STD        9.990         356   I           2F              1   N
 90.00   A2/6          $61,096.85      32.40   FULL       8.900         357   I           SFR             1   Y
 90.00   A2/6 B30/40   $61,139.00      48.02   FULL       8.525         356   P           SFR             1   N
 80.00   A2/6          $61,319.95      26.72   FULL       8.699         353   P           SFR             1   N
100.00   B15/30        $61,457.85      49.04   STD       10.840         176   P           TH              2   N
 80.00   A2/6          $61,503.66      35.96   FULL      10.640         356   P           SFR             1   Y
 80.00   F30           $61,552.64      39.20   FULL      10.675         358   P           SFR             1   N
100.00   F30           $61,581.98      44.47   STD       11.900         359   P           SFR             2   N
 95.00   A3/6          $61,659.87      41.88   FULL       9.590         357   P           2F              1   N
 95.00   A2/6          $61,684.36      37.19   FULL       9.150         358   P           SFR             1   N
100.00   B15/30        $61,748.70      43.55   STD       12.150         175   P           2F              2   N
100.00   B15/30        $61,862.42      42.12   STD       12.300         172   P           SFR             2   N
100.00   B15/30        $61,872.50      43.61   STD       11.750         175   P           SFR             2   N
100.00   F30           $61,896.70      44.41   STD       12.250         354   P           SFR             2   N
 88.57   F30           $61,907.78      47.07   FULL       9.500         357   P           SFR             1   N
100.00   F30           $61,916.84      37.33   FULL       9.990         357   P           SFR             2   N
100.00   B15/30        $61,929.20      39.76   STD       10.740         177   P           SFR             2   N
100.00   B15/30        $61,932.19      41.03   STD       10.940         177   P           SFR             2   N
100.00   B15/30        $61,942.42      41.83   STD       11.740         177   P           CO              2   N
100.00   F15           $62,441.40      47.36   STD       11.500         173   P           SFR             2   N
 99.00   F30           $62,590.59      53.90   FULL      10.125         356   P           CO              2   N
 95.00   B15/30        $62,650.40      45.35   STD       12.750         174   P           SFR             2   N
 89.86   A2/6          $62,758.61      46.02   FULL      10.050         355   P           SFR             1   N
 66.32   A2/6          $62,766.81      36.51   FULL       8.499         354   P           SFR             1   N
 70.00   F30           $62,845.69      26.18   STD        8.500         356   P           SFR             1   N
100.00   B15/30        $62,916.50      44.39   STD       11.400         176   P           SFR             2   N
100.00   B15/30        $62,930.77      39.07   LIM       12.250         176   P           SFR             2   N
100.00   B15/30        $62,942.14      42.74   STD       11.740         177   P           SFR             2   N
 75.00   A3/6          $62,948.62      49.68   STD       10.400         358   I           SFR             1   N
 75.00   B30/40        $62,956.20      35.07   FULL       8.750         357   P           SFR             1   N
 80.00   A2/6          $63,111.83      48.87   FULL       7.825         358   P           PUD             1   Y
100.00   B15/30        $63,245.16      42.30   STD       10.490         174   P           SFR             2   N
 97.16   B15/30        $63,431.29      40.19   FULL      10.990         177   P           CO              2   N
100.00   B15/30        $63,480.69      48.43   STD       10.850         175   P           SFR             2   N
 80.00   A3/6          $63,520.84      54.23   FULL      10.340         357   P           SFR             1   Y
100.00   B15/30        $63,535.34      47.14   STD       11.275         177   P           SFR             2   N
 84.34   F20           $63,593.28      28.45   FULL      10.199         239   P           SFR             1   N
 72.44   A2/6          $63,639.14      17.65   FULL       8.750         357   P           CO              1   N
 85.00   A2/6          $63,681.18      26.43   LIM        9.075         358   I           SFR             1   N
 79.98   A2/6          $63,747.76      43.09   FULL       7.190         357   P           SFR             1   Y
100.00   B15/30        $63,829.29      50.43   STD       11.990         176   P           SFR             2   N
 80.00   A2/6          $63,870.61      47.55   STD       10.500         355   P           SFR             1   Y
 90.00   A2/6 B30/40   $63,889.34      36.15   STD        9.825         359   I           2F              1   N
100.00   B15/30        $63,920.40      48.27   STD       11.690         176   P           SFR             2   N
 88.89   A2/6          $63,929.08      24.15   FULL       8.950         358   P           SFR             1   N
100.00   B15/30        $63,938.59      34.17   STD       11.540         177   P           CO              2   N
100.00   F30           $63,953.54      43.89   STD       10.940         358   P           CO              2   N
 80.00   A2/6          $63,982.19      48.96   FULL      12.125         359   I           2F              1   N
 80.00   A2/6          $64,261.10      48.09   FULL       7.690         357   P           SFR             1   Y
100.00   B15/30        $64,280.25      39.43   STD       10.890         175   P           SFR             2   N
 71.10   F20           $64,342.50      41.78   STD        7.390         237   P           SFR             1   Y
100.00   F30           $64,364.33      50.23   STD       13.990         357   P           SFR             2   N
 80.00   A2/6          $64,369.64      43.11   FULL       8.500         358   P           SFR             1   Y
100.00   B15/30        $64,405.84      39.35   STD       12.000         175   P           SFR             2   N
 80.00   A2/6          $64,464.59      14.47   STD       10.900         356   P           SFR             1   N
 85.00   A2/6          $64,501.40      45.66   FULL      10.750         356   I           SFR             1   N
 70.00   A2/6 B30/40   $64,733.65      24.00   STD       10.750         358   P           SFR             1   N
 56.52   F20           $64,816.66      22.20   FULL       9.500         238   P           SFR             1   N
 69.89   A2/6          $64,881.33      40.09   STD        8.540         357   P           SFR             1   N
100.00   F30           $64,889.66      43.98   STD       10.100         357   P           SFR             2   N
100.00   B15/30        $64,915.54      51.11   STD       11.490         176   P           SFR             2   N
100.00   B15/30        $64,920.91      45.50   STD       11.790         176   P           SFR             2   N
 57.02   A2/6          $64,938.77      48.07   FULL       9.725         358   P           SFR             1   N
100.00   F30           $64,942.38      42.52   FULL      11.900         357   P           2F              2   N
100.00   B15/30        $64,952.81      48.22   STD       10.940         178   P           TH              2   N
 80.00   A2/6 B30/40   $65,468.88      34.38   FULL       7.525         355   P           SFR             1   Y
 79.88   A2/6          $65,479.63      43.19   FULL      11.625         359   P           SFR             1   N
 80.00   A3/6          $65,554.91      32.04   FULL      11.190         358   P           SFR             1   N
 44.00   F30           $65,885.26      28.86   FULL       8.750         357   P           SFR             1   N
 80.00   A2/6          $65,894.12      36.50   FULL       7.125         358   P           SFR             1   Y
100.00   B15/30        $66,152.98      44.31   STD       11.040         178   P           SFR             2   N
 85.00   A2/6          $66,202.02      34.88   STD       10.900         356   P           2F              1   Y
 85.00   A2/6          $66,225.89      36.39   STD       10.840         357   P           2F              1   N
 80.00   A2/6          $66,307.29      43.77   FULL       9.800         357   P           SFR             1   N
 51.15   A2/6          $66,397.92      39.37   FULL       9.350         357   P           SFR             1   N
 90.00   A2/6          $66,494.30      41.89   STD        9.190         357   P           SFR             1   N
 95.00   A3/6          $66,540.11      50.55   FULL      10.350         358   P           SFR             1   N
 90.00   A3/6 B30/40   $66,562.96      41.27   FULL       9.500         357   P           SFR             1   N
 79.96   A2/6 B30/40   $66,606.18      40.99   STD        8.940         357   P           CO              1   Y
 49.44   F30           $66,638.63      47.87   STD        8.950         357   I           SFR             1   N
100.00   F30           $66,852.96      39.90   STD       10.990         354   P           PUD             2   N
100.00   B15/30        $66,873.03      43.96   STD       10.990         175   P           CO              2   N
 70.53   F30           $66,916.67      23.52   FULL       8.390         358   P           SFR             1   N
100.00   B15/30        $66,917.57      43.20   STD       11.740         176   P           CO              2   N
100.00   F30           $66,959.28      33.40   FULL      11.750         354   P           SFR             2   N
 80.00   F30           $67,056.52      43.97   FULL       7.740         357   P           SFR             1   Y
 80.00   F30           $67,113.80      28.91   FULL      10.200         357   P           2F              1   Y
 90.00   A3/6          $67,232.75      35.39   STD        8.940         353   P           SFR             1   N
 80.00   A2/6          $67,323.83      33.24   FULL       7.925         358   P           SFR             1   Y
100.00   B15/30        $67,432.49      47.34   FULL      11.350         177   P           SFR             2   N
100.00   B15/30        $67,483.68      41.92   STD       10.190         176   P           SFR             2   N
 85.00   A2/6          $67,663.35      37.83   FULL       9.750         350   P           SFR             1   N
 85.00   A3/6          $67,857.68      33.45   FULL       7.840         357   I           SFR             1   N
 80.00   A3/6          $67,893.42      39.36   FULL       9.250         357   P           SFR             1   N
100.00   B15/30        $67,934.76      44.32   STD       11.540         177   P           SFR             2   N
 80.00   F30           $67,936.28      26.57   FULL       9.750         358   P           SFR             1   N
100.00   F30           $67,949.52      46.53   STD       13.990         356   P           3F              2   N
 80.00   A2/6          $67,954.37      40.05   FULL      11.300         358   P           SFR             1   N
 85.00   A2/6 B30/40   $67,956.42      24.25   FULL       9.999         356   P           SFR             1   N
 78.39   F30           $68,087.98      38.95   FULL       9.025         357   P           SFR             1   N
100.00   B15/30        $68,316.66      47.79   FULL      10.440         177   P           SFR             2   N
 76.97   A2/6          $68,374.61      53.61   FULL       8.500         357   P           SFR             1   N
 80.00   F20           $68,576.72      44.68   FULL       8.390         238   P           SFR             1   N
 70.00   F30           $68,757.36      47.53   FULL       7.850         356   P           SFR             1   N
 49.70   F30           $68,779.88      28.88   FULL       8.315         355   P           SFR             1   N
100.00   B15/30        $68,914.18      47.26   STD       11.690         176   P           SFR             2   N
 60.00   A3/6          $68,919.66      32.51   STD       10.650         357   P           SFR             1   N
 58.33   F10           $68,974.41      43.01   STD       10.140         117   P           SFR             1   N
 80.00   F30           $69,073.34      49.96   FULL       8.500         357   P           SFR             1   Y
100.00   B15/30        $69,119.26      44.79   LIM       10.640         177   P           SFR             2   N
100.00   B15/30        $69,128.54      44.91   FULL      12.530         176   P           SFR             2   N
 80.00   A2/6          $69,274.35      35.95   FULL       8.425         358   P           SFR             1   Y
100.00   B15/30        $69,353.56      47.04   STD       12.450         177   P           SFR             2   N
 80.00   A3/6          $69,479.00      44.12   STD        8.750         357   P           SFR             1   Y
 80.00   A2/6          $69,517.93      28.64   FULL       8.650         358   P           SFR             1   N
 90.00   F30           $69,577.54      20.35   LIM        9.550         355   I           2F              1   N
 75.00   A2/6          $69,634.86      48.21   FULL       9.000         357   P           TH              1   N
 88.73   B15/30        $69,652.99      48.93   STD       11.675         173   P           SFR             2   N
 80.00   A3/6          $69,819.59      47.06   STD        8.250         356   P           SFR             1   Y
 66.67   F30           $69,858.14      50.09   FULL       8.000         357   P           SFR             1   N
 77.78   A3/6          $69,903.28      42.44   FULL       9.850         357   P           SFR             1   N
 69.31   A3/6          $69,909.27      30.23   FULL      10.150         357   I           SFR             1   N
 73.68   A2/6 B30/40   $69,912.27      54.71   FULL       6.690         357   P           TH              1   Y
 56.00   A2/6          $69,922.84      28.52   FULL       8.975         358   P           SFR             1   N
100.00   F30           $69,932.25       0.00   STD       11.500         357   P           SFR             2   N
100.00   B15/30        $70,081.08      41.76   STD       11.990         176   P           SFR             2   N
 95.00   B15/30        $70,156.38      45.06   STD       11.650         178   P           SFR             2   N
100.00   B15/30        $70,270.94      47.90   FULL      11.390         176   P           SFR             2   N
100.00   B15/30        $70,273.59      50.66   FULL       9.990         176   P           SFR             2   N
 95.00   A2/6 B30/40   $70,291.82      35.63   STD       11.000         359   S           SFR             1   N
100.00   B15/30        $70,322.99      49.96   STD       10.940         177   P           SFR             2   N
100.00   B15/30        $70,345.47      45.71   STD       10.640         178   P           SFR             2   N
100.00   B15/30        $70,346.58      49.91   STD       12.600         177   P           SFR             2   N
 75.00   A2/6          $70,372.31      27.60   FULL       9.950         356   P           SFR             1   N
 85.00   A3/6          $70,397.91      42.24   FULL      10.200         355   I           2F              1   N
 85.00   A2/6          $70,497.39      54.25   FULL      10.815         358   P           SFR             1   N
 79.90   F30           $70,584.24      47.53   STD        8.640         357   P           SFR             1   N
 80.00   A2/6          $70,736.96      21.50   FULL       9.250         357   P           SFR             1   Y
100.00   B15/30        $70,836.57      52.29   FULL       9.890         175   P           TH              2   N
 83.53   A3/6          $70,918.00      43.03   FULL       8.750         358   P           SFR             1   N
 73.96   F30           $70,919.94      40.15   STD       10.799         357   P           SFR             1   N
 75.00   A2/6          $70,957.70      49.90   FULL       7.990         354   P           SFR             1   N
 95.00   A2/6          $70,999.36      46.17   FULL       9.050         356   S           SFR             1   N
100.00   B15/30        $71,049.69      43.20   STD       11.400         176   P           SFR             2   N
 75.00   A2/6          $71,102.08      38.01   STD        9.300         356   I           SFR             1   N
 80.00   A2/6 B30/40   $71,110.34      31.24   STD        9.160         354   P           SFR             1   N
 80.00   A2/6          $71,124.17      27.91   STD        9.140         358   P           2F              1   Y
 83.82   A2/6          $71,182.89      41.07   FULL       9.725         358   P           SFR             1   N
 95.00   B30/40        $71,215.61      23.58   FULL       8.600         358   P           SFR             1   N
 61.64   A2/6          $71,441.69      36.70   FULL      10.400         358   P           SFR             1   N
 80.00   A2/6          $71,738.75      33.65   FULL      10.000         355   P           SFR             1   Y
 80.00   A3/6          $71,777.87      37.95   STD        8.000         356   P           SFR             1   Y
 80.00   F30           $71,820.04      51.74   FULL       8.400         356   P           SFR             1   N
 80.00   A2/6          $71,836.93      46.31   FULL       8.750         358   P           SFR             1   Y
 80.00   F30           $71,851.12      41.82   STD        7.900         357   P           SFR             1   N
 80.00   A2/6          $71,871.94      43.14   STD        8.640         357   P           SFR             1   Y
 80.00   F30           $71,874.83      38.08   STD        8.750         357   P           SFR             1   Y
 90.00   A2/6          $71,879.65      38.91   LIM        8.940         357   I           SFR             1   N
 90.00   F30           $71,882.36      47.57   FULL       9.050         357   P           SFR             1   N
 80.00   A2/6          $71,899.57      25.18   STD        7.825         358   P           SFR             1   Y
 90.00   A3/6          $71,903.44      30.96   FULL       9.990         357   P           TH              1   N
 90.00   A2/6          $71,910.37      38.39   STD       10.340         357   I           SFR             1   N
100.00   B15/30        $71,921.26      37.33   STD       10.940         177   P           SFR             2   N
 90.00   F30           $71,923.47      48.73   FULL       9.150         358   I           SFR             1   N
 57.14   A3/6          $71,926.60      29.56   FULL       9.350         358   P           SFR             1   N
100.00   B15/30        $71,926.78      33.99   STD       11.275         177   P           CO              2   N
 80.00   A3/6          $71,937.38      41.30   STD       10.100         358   P           SFR             1   Y
 80.00   A3/6          $71,944.23      35.31   FULL      10.640         358   P           SFR             1   N
100.00   B15/30        $71,960.82      47.99   STD       12.250         178   P           SFR             2   N
 90.00   B30/40        $71,964.40      43.24   STD        9.890         357   I           SFR             1   N
 95.00   F25           $72,026.78      43.25   FULL       7.200         298   P           SFR             1   N
 85.00   A3/6          $72,124.39      41.38   FULL       8.750         357   P           SFR             1   N
 85.00   A2/6          $72,176.35      37.11   STD        9.350         358   P           SFR             1   N
 99.95   A3/6          $72,243.16      46.27   STD       12.440         357   P           SFR             1   N
100.00   B15/30        $72,319.09      40.70   LIM       10.840         177   P           SFR             2   N
 74.39   F30           $72,373.35      41.44   FULL       7.300         356   P           PUD             1   Y
 75.00   A2/6          $72,586.05      32.90   STD       10.675         356   P           SFR             1   N
 85.00   A2/6          $72,588.98      24.01   FULL      10.575         357   P           SFR             1   N
 80.00   F30           $72,673.42      37.86   STD        8.750         357   P           SFR             1   Y
 75.00   F30           $72,699.00      48.05   FULL      11.100         358   I           SFR             1   N
 80.00   A3/6          $72,700.48      56.38   FULL       9.900         357   P           SFR             1   Y
 80.00   IOA2/6        $72,800.00      47.30   STD        9.590         357   P           SFR             1   Y
100.00   F30           $72,896.72      38.78   STD       12.990         354   P           SFR             2   N
100.00   B15/30        $72,928.21      52.72   STD       12.750         176   P           SFR             2   N
 80.00   A2/6          $72,935.68      19.65   FULL       7.700         355   P           SFR             1   Y
 85.00   A2/6          $72,951.38      51.57   STD        9.400         356   I           SFR             1   N
 95.00   A3/6          $73,045.68      12.59   STD        9.700         357   P           SFR             1   N
 95.00   A2/6          $73,058.17      45.33   FULL      10.300         357   P           SFR             1   N
 99.97   F30           $73,260.66      32.30   FULL      10.240         348   P           SFR             1   N
100.00   B15/30        $73,277.80      46.78   STD       11.400         175   P           CO              2   N
 95.00   A2/6          $73,500.24      26.42   FULL       8.875         357   I           CO              1   N
 80.00   A2/6          $73,514.98      41.68   FULL       8.750         358   P           SFR             1   Y
100.00   B15/30        $73,532.55      48.35   FULL      11.750         177   P           2F              2   N
 80.00   A2/6 B30/40   $73,587.09      48.33   FULL       7.775         353   P           CO              1   Y
 82.00   A3/6          $73,650.17      38.94   FULL       7.990         357   P           SFR             1   N
100.00   B15/30        $73,798.80      44.92   FULL      11.250         176   P           SFR             2   N
100.00   B15/30        $73,923.60      42.28   STD       13.550         175   P           SFR             2   N
 55.56   A2/6          $73,985.53      39.40   FULL       8.990         355   P           SFR             1   N
 80.00   B30/40        $74,252.65      37.56   FULL       7.875         355   P           PUD             1   Y
 79.99   A3/6          $74,253.86      30.77   STD        8.500         357   P           SFR             1   N
100.00   F30           $74,491.20      43.15   STD        9.990         353   P           SFR             2   N
 80.00   F15           $74,537.34      51.04   FULL       7.890         177   P           SFR             1   N
 90.00   F30           $74,576.40      24.84   FULL       8.990         357   P           SFR             1   N
 90.00   A3/6          $74,609.17      46.32   STD        8.500         358   I           SFR             1   Y
 75.00   F20           $74,638.59      36.06   STD        8.500         237   P           SFR             1   N
100.00   B15/30        $74,679.72      38.87   FULL       9.825         171   P           SFR             2   N
 80.00   F30           $74,723.54      43.40   FULL      11.250         357   P           SFR             1   N
100.00   B15/30        $74,731.30      47.35   STD       11.740         177   P           SFR             2   N
 56.82   A2/6          $74,738.28      48.30   FULL       9.550         353   I           SFR             1   N
100.00   B15/30        $74,768.39      46.38   STD       11.350         171   P           SFR             2   N
 30.61   F30           $74,776.35      50.10   FULL       7.525         356   P           SFR             1   N
 44.91   A2/6          $74,820.04      16.96   FULL       8.600         356   P           SFR             1   N
 50.00   F30           $74,865.61      35.10   FULL      10.000         356   P           SFR             1   N
 55.56   F30           $74,891.08      43.25   FULL       7.625         358   P           SFR             1   N
 75.00   A3/6          $74,892.71      29.63   FULL      11.050         356   P           SFR             1   Y
 51.72   A3/6          $74,897.26      48.72   FULL       9.890         357   P           SFR             1   N
 62.50   A2/6          $74,903.03      35.81   FULL       8.200         358   P           SFR             1   N
 25.42   A3/6          $74,916.03      43.99   STD        8.900         358   P           SFR             1   N
100.00   B15/30        $74,917.58      46.14   STD       12.250         176   P           SFR             2   N
 75.00   A2/6          $74,925.78      49.88   STD        9.490         358   P           SFR             1   N
 65.29   F30           $74,937.08      51.45   FULL       8.040         357   P           SFR             1   N
100.00   F30           $74,951.83      49.48   STD       11.500         358   P           SFR             2   N
 80.00   A2/6          $75,093.87      36.85   FULL       9.750         357   P           SFR             1   N
 80.00   A2/6          $75,095.09      34.32   FULL       7.825         358   P           SFR             1   Y
 80.00   A2/6          $75,148.69      22.45   FULL      11.225         358   P           SFR             1   N
 89.97   A3/6          $75,287.22      47.54   FULL      10.300         358   P           SFR             1   Y
 80.00   F15           $75,375.93      40.10   FULL       8.690         177   P           SFR             1   N
 43.89   F10           $75,424.43      44.97   FULL       6.500         117   P           SFR             1   N
 84.00   A3/6          $75,494.44      40.28   STD        7.820         358   I           SFR             1   N
 89.47   F30           $75,529.15      49.20   STD        9.750         358   I           SFR             1   N
 85.00   F30           $75,575.28      51.47   FULL       9.500         358   P           SFR             1   N
100.00   F30           $75,662.37      46.85   STD       11.000         355   P           SFR             2   N
 80.00   F30           $75,720.52      44.87   FULL       8.530         354   P           SFR             1   Y
 80.00   F30           $75,834.42      23.89   FULL       7.640         357   P           SFR             1   Y
 80.00   F30           $75,874.50      17.97   FULL       8.999         357   P           SFR             1   N
 80.00   A2/6          $75,881.47      47.57   FULL      10.650         356   P           SFR             1   Y
 80.00   F30           $75,905.18      16.07   FULL       8.375         358   P           SFR             1   N
100.00   B15/30        $75,915.05      47.00   STD       12.175         176   P           3F              2   N
 95.00   A2/6          $75,917.52      40.09   FULL       9.050         358   P           SFR             1   N
 82.61   A2/6          $75,924.94      45.85   FULL       9.500         358   P           SFR             1   N
 80.00   A2/6 B30/40   $75,938.85      36.91   FULL       9.275         356   P           SFR             1   Y
 83.52   B30/40        $75,945.19      35.47   STD        8.625         357   P           SFR             1   N
 80.00   A3/6 B30/40   $76,216.48      43.26   STD       10.875         358   P           SFR             1   Y
 90.00   F30           $76,242.41      47.65   STD        9.900         355   I           SFR             1   N
 85.00   A2/6          $76,258.63      33.59   FULL       7.240         356   I           SFR             1   N
 40.56   F30           $76,361.53      43.94   FULL       7.475         355   P           SFR             1   N
 85.00   A3/6          $76,373.42      35.93   STD        8.990         357   P           SFR             1   N
 90.00   A2/6          $76,379.09      54.13   FULL       9.490         357   P           SFR             1   N
 85.00   A5/6          $76,402.43      44.95   STD       10.500         357   P           SFR             1   N
 79.69   A3/6          $76,424.28      33.97   FULL       9.490         358   P           SFR             1   N
 80.00   A3/6          $76,425.19      37.16   FULL      10.999         358   P           CO              1   N
 85.00   A3/6 B30/40   $76,428.83      21.60   STD        8.750         356   P           SFR             1   N
 85.00   A2/6          $76,433.10      46.00   FULL      10.075         358   P           SFR             1   N
 90.00   A2/6          $76,435.56      48.68   FULL      10.250         358   P           SFR             1   Y
 90.00   A3/6 B30/40   $76,441.06      54.87   FULL       8.400         357   P           SFR             1   N
 75.00   A3/6          $76,454.76      39.13   FULL      11.875         358   I           2F              1   N
 79.97   A2/6          $76,559.46      48.58   STD        8.640         358   P           SFR             1   N
 80.00   A2/6          $76,617.72      46.85   FULL       8.050         358   P           SFR             1   Y
 80.00   A2/6          $76,627.93      28.08   FULL       7.500         357   P           SFR             1   Y
 80.00   A2/6          $76,667.82      33.30   FULL       8.800         357   P           SFR             1   N
 80.00   A2/6          $76,717.53      46.55   STD        9.100         358   P           SFR             1   Y
 80.00   IOA2/6        $76,800.00      51.78   FULL       7.350         358   P           SFR             1   Y
100.00   A2/6          $76,841.47      27.87   FULL       9.340         356   P           SFR             1   N
100.00   F30           $76,884.49      44.95   STD       11.875         355   P           SFR             2   N
 92.00   F20           $76,901.77      38.87   STD        8.375         237   P           SFR             1   N
100.00   B15/30        $76,919.61      46.25   LIM       13.500         175   P           SFR             2   N
 80.00   F20           $77,040.32      47.56   FULL       7.590         236   P           SFR             1   N
100.00   B15/30        $77,225.82      49.07   STD       11.540         177   P           SFR             2   N
 90.00   A3/6          $77,309.69      45.37   STD        8.700         358   P           SFR             1   Y
 80.00   A2/6 B30/40   $77,633.39      37.81   FULL       7.599         355   P           TH              1   Y
100.00   B15/30        $77,733.20      48.38   LIM       10.300         172   P           SFR             2   N
 85.00   F20           $77,846.09      44.04   STD        9.000         237   P           SFR             1   N
 82.11   F30           $77,928.75      27.30   STD        9.870         358   P           SFR             1   N
 80.00   A2/6          $77,961.20      48.14   STD       10.300         354   I           SFR             1   Y
 85.00   A2/6          $78,025.38      37.05   STD        8.950         356   P           SFR             1   N
 85.00   F30           $78,137.56      35.94   FULL      10.499         358   P           SFR             1   N
 90.00   F30           $78,142.71      45.43   STD       10.150         358   I           SFR             1   N
 79.98   A2/6          $78,202.62       1.97   LIM        8.390         358   I           CO              1   N
 88.70   A2/6          $78,409.39      34.13   STD       10.690         357   P           SFR             1   N
 84.97   A3/6          $78,531.50      48.69   STD       10.090         358   P           SFR             1   Y
 85.00   A3/6          $78,652.68      37.76   FULL      10.925         358   P           SFR             1   N
 75.00   A3/6          $78,665.42      51.83   FULL       9.100         358   I           SFR             1   N
 75.00   A5/6          $78,667.16      48.14   STD        9.200         358   P           SFR             1   N
 46.47   A2/6 B30/40   $78,912.75      31.24   FULL       8.938         355   P           SFR             1   N
100.00   B15/30        $78,913.16      48.95   LIM       12.250         176   P           CO              2   N
 69.91   A2/6 B30/40   $78,975.29      43.22   FULL      10.050         358   P           SFR             1   N
 80.00   A2/6          $79,031.21      42.23   STD        7.750         357   P           SFR             1   Y
 80.00   A2/6          $79,041.50      48.21   STD        8.240         357   P           CO              1   Y
 80.00   A3/6          $79,062.29      46.92   FULL       8.750         357   P           SFR             1   N
100.00   B15/30        $79,195.04      49.74   STD       11.490         174   P           SFR             2   N
 63.80   F30           $79,497.13      40.97   STD        9.250         354   P           SFR             1   N
100.00   F30           $79,578.56      56.99   FULL      10.250         356   P           SFR             2   N
 80.00   A2/6 B30/40   $79,610.61      51.25   STD       10.200         356   I           CO              1   N
 70.80   A2/6          $79,676.28      19.42   FULL       9.500         352   P           SFR             1   N
 79.99   F20           $79,738.73      44.41   STD        8.650         238   P           SFR             1   N
 72.73   A2/6 B30/40   $79,763.61      36.08   STD        8.990         351   I           SFR             1   N
 79.98   A2/6          $79,800.64       1.97   LIM        8.390         358   I           CO              1   N
 99.99   B15/30        $79,807.65      51.08   FULL      11.090         175   P           SFR             2   N
100.00   A2/6          $79,853.58      46.35   STD        8.500         357   P           SFR             1   N
 80.00   F30           $79,857.71      44.72   FULL       8.640         357   P           SFR             1   N
 62.99   A3/6          $79,858.00      41.74   FULL       8.650         357   P           SFR             1   N
100.00   F30           $79,860.91      44.12   FULL       8.750         357   P           SFR             1   N
 80.00   F30           $79,860.91      36.37   FULL       8.750         357   P           SFR             1   N
 68.97   F30           $79,866.64      44.85   FULL       8.953         357   I           SFR             1   N
 80.00   F30           $79,881.65      29.35   FULL       9.525         357   P           SFR             1   N
 44.94   F30           $79,885.56      29.73   FULL       7.700         358   P           SFR             1   N
 80.00   A2/6          $79,890.65      38.10   FULL       7.925         358   P           SFR             1   Y
 80.00   A3/6          $79,900.43      46.29   FULL      10.340         357   P           SFR             1   N
 40.00   A3/6          $79,917.60      34.91   STD        9.300         358   P           SFR             1   N
 60.15   A2/6          $79,919.99      44.65   STD        9.440         358   P           SFR             1   N
 80.00   A2/6          $79,922.63      39.56   STD        9.600         358   P           SFR             1   Y
 78.43   A2/6 B30/40   $79,945.20      52.97   FULL       8.800         357   P           SFR             1   N
 88.89   A2/6 B30/40   $79,954.62      37.45   STD       10.400         356   P           CO              1   N
 80.00   A2/6 B30/40   $79,965.58      46.34   FULL       8.990         358   P           SFR             1   Y
 70.80   A2/6 B30/40   $79,974.20      14.15   STD        9.950         358   I           2F              1   N
 69.07   F10           $80,067.54      47.99   FULL       6.850         117   P           SFR             1   N
 67.65   F30           $80,279.55      23.28   FULL       7.950         356   I           SFR             1   N
 80.00   A2/6          $80,323.05      46.06   STD        9.650         358   P           SFR             1   N
100.00   B15/30        $80,463.24      35.85   FULL      10.990         176   P           CO              2   N
 85.00   A2/6          $80,569.35      30.69   STD       10.900         354   P           SFR             1   Y
 85.00   A2/6          $80,604.23      37.85   FULL       9.600         356   P           SFR             1   Y
 85.00   A2/6          $80,646.45      31.96   FULL       8.240         358   P           SFR             1   Y
 85.00   B30/40        $80,699.58      45.40   FULL       9.375         357   P           SFR             1   N
 80.00   F30           $80,703.87      46.84   STD       10.550         357   P           SFR             1   Y
 90.00   A2/6          $80,708.97      34.10   LIM        7.725         355   P           SFR             1   N
 89.90   F30           $80,710.19      33.41   STD        9.800         355   I           2F              1   Y
 95.00   A2/6 B30/40   $80,730.00      28.37   FULL       8.500         359   P           SFR             1   N
 80.00   IOA2/6        $80,800.00      48.46   FULL       7.750         358   P           SFR             1   Y
 75.00   A3/6          $80,875.69      45.89   STD        9.350         357   P           SFR             1   N
100.00   B15/30        $80,878.77      48.39   STD       12.000         177   P           SFR             2   N
100.00   B15/30        $80,899.24      44.45   STD       11.690         176   P           SFR             2   N
 90.00   A3/6          $80,915.52      48.28   FULL       9.240         358   P           2F              1   N
 90.00   F30           $80,918.30      49.36   FULL       9.400         358   I           2F              1   N
 90.00   A2/6          $80,921.67      46.53   STD        9.600         358   I           2F              1   N
 90.00   A2/6          $80,922.48      43.69   FULL       9.650         358   P           SFR             1   N
 90.00   A3/6          $80,936.72      52.09   FULL      10.600         358   P           SFR             1   Y
100.00   F15           $81,146.18      42.40   STD       11.790         175   P           3F              2   N
 80.00   A2/6          $81,221.89      42.47   STD        8.950         358   P           SFR             1   Y
 85.00   A2/6          $81,489.62      48.47   STD        9.950         357   I           2F              1   N
 62.04   F10           $81,573.77      48.31   LIM        8.050         117   I           SFR             1   N
 41.00   F30           $81,758.98      49.94   FULL       8.150         356   P           SFR             1   N
 70.69   F30           $81,809.24      43.53   FULL       8.750         356   P           SFR             1   N
100.00   B15/30        $81,812.59      46.76   FULL      10.800         174   P           SFR             2   N
100.00   B15/30        $81,815.20      44.55   FULL       9.990         175   P           SFR             2   N
 54.67   A3/6          $81,816.56      25.60   FULL       8.850         356   P           CO              1   N
 75.00   F15           $81,824.61      30.75   FULL       8.740         177   P           SFR             1   N
100.00   B15/30        $81,870.73      49.34   STD       11.650         175   P           SFR             2   N
100.00   B15/30        $81,900.22      45.38   STD       11.790         176   P           SFR             2   N
100.00   B15/30        $81,902.59      50.18   STD       11.900         176   P           PUD             2   N
 74.91   F30           $82,114.15      39.37   FULL       7.500         357   P           SFR             1   N
 85.00   F30           $82,191.68      36.87   FULL       7.275         356   P           SFR             1   N
 64.96   A2/6          $82,345.50      35.97   STD        8.390         357   P           SFR             1   N
 66.53   A2/6          $82,379.82      17.90   FULL       9.600         357   P           SFR             1   N
 79.99   A3/6          $82,472.66      41.92   STD        9.750         358   P           SFR             1   Y
 77.93   A2/6          $82,798.69      32.38   STD        7.100         357   I           SFR             1   N
100.00   B15/30        $82,923.80      38.15   STD       11.740         177   P           SFR             2   N
 85.00   A2/6          $83,234.56      35.61   FULL      10.575         358   P           SFR             1   N
100.00   A2/6          $83,422.43      49.29   STD        9.790         358   P           SFR             1   N
 71.07   A2/6          $83,443.21      11.38   FULL       7.050         352   P           SFR             1   N
 82.11   B30/40        $83,691.73      45.53   FULL       8.750         357   P           SFR             1   N
 79.90   A3/6          $83,774.96      23.73   STD        9.490         357   P           SFR             1   N
 79.90   F30           $83,816.40      27.86   STD        9.750         358   P           SFR             1   N
 80.00   A2/6          $83,825.97      45.14   FULL       7.890         357   P           CO              1   Y
 80.00   A3/6          $83,831.50      43.54   FULL       8.050         357   P           SFR             1   Y
 80.00   A2/6          $83,845.95      37.31   FULL       8.490         357   P           SFR             1   Y
 80.00   A3/6          $83,850.61      41.86   STD        8.640         357   P           SFR             1   N
100.00   B15/30        $83,906.13      50.85   FULL      10.840         177   P           SFR             2   N
 80.00   A2/6 B30/40   $83,967.04      43.73   FULL      10.650         357   P           2F              1   Y
 80.00   A2/6 B30/40   $83,977.78      47.18   FULL       8.275         359   P           SFR             1   Y
 90.00   A3/6          $84,015.92      44.86   FULL      10.550         356   P           SFR             1   Y
 90.00   A2/6          $84,086.34      47.31   FULL      10.750         358   P           CO              1   N
 80.00   A2/6          $84,190.83      46.64   STD        6.990         357   P           SFR             1   Y
100.00   B15/30        $84,354.20      28.45   STD       11.125         172   P           SFR             2   N
 93.41   F30           $84,372.13      23.79   FULL       8.100         355   P           SFR             1   N
 90.00   A3/6          $84,457.10      28.36   STD        8.890         357   I           SFR             1   Y
 80.00   A2/6          $84,684.66      54.06   FULL       7.950         358   P           SFR             1   Y
 80.00   F10           $84,695.68      42.25   STD        8.675         118   P           SFR             1   N
 85.00   F30           $84,873.56      28.95   LIM        9.500         357   P           SFR             1   N
 85.00   A3/6          $84,888.39      42.33   FULL      10.090         357   P           SFR             1   N
100.00   A2/6          $84,897.77      36.98   LIM       10.500         357   P           SFR             1   N
 79.81   F30           $84,902.00      37.00   FULL       8.759         358   P           SFR             1   N
 85.00   F30           $84,908.05      41.60   STD       10.990         357   P           SFR             1   N
 65.89   B30/40        $84,920.95      41.79   STD        8.750         356   I           SFR             1   N
 85.00   A3/6          $84,925.91      49.12   STD       10.090         358   I           SFR             1   N
 77.27   IOA2/6        $85,000.00      54.36   STD        8.215         357   P           SFR             1   Y
 63.19   F30           $85,157.70      33.19   FULL       8.950         357   P           SFR             1   N
 90.00   A3/6          $85,262.33       0.00   STD        7.875         356   P           SFR             1   N
 90.00   A2/6          $85,265.34      45.58   FULL       9.050         355   P           SFR             1   N
100.00   B15/30        $85,268.29      48.26   FULL      11.750         175   P           PUD             2   N
 43.85   A3/6          $85,358.12      46.71   FULL       8.975         357   P           CO              1   N
 90.00   F30           $85,365.71      49.49   FULL       9.240         357   P           SFR             1   N
 90.00   F30           $85,376.10      25.50   STD       10.990         356   P           PUD             1   N
 90.00   A2/6          $85,377.83      49.25   STD        9.690         357   P           SFR             1   Y
 90.00   A2/6          $85,430.26      43.90   FULL      10.400         358   I           SFR             1   N
 80.00   A2/6 B30/40   $85,506.90      47.86   STD        8.990         355   P           CO              1   Y
 80.00   IOA2/6        $85,600.00      41.57   FULL       7.575         358   P           SFR             1   Y
100.00   B15/30        $85,718.03      29.97   STD       10.500         172   P           PUD             2   N
100.00   B15/30        $85,798.49      40.49   FULL      13.425         172   P           PUD             2   N
 75.00   A2/6          $85,814.79      27.72   STD       11.100         358   P           SFR             1   N
100.00   B15/30        $85,838.68      44.11   STD       10.850         175   P           SFR             2   N
100.00   A3/6          $85,872.10      30.48   STD        9.500         357   P           SFR             1   N
 80.00   A2/6          $85,879.02      48.98   FULL       9.725         358   P           SFR             1   Y
100.00   B15/30        $85,888.25      42.32   STD       11.490         176   P           SFR             2   N
 20.09   F15           $85,939.07      34.91   FULL       7.500         176   P           SFR             1   N
100.00   B15/30        $85,958.63      41.30   STD       12.800         178   P           3F              2   N
 79.96   A3/6          $86,015.37      32.54   STD        9.150         356   P           SFR             1   Y
 87.68   F15           $86,084.72      47.50   STD        8.650         177   P           SFR             1   N
 80.00   F30           $86,181.01      35.50   FULL       8.240         357   P           SFR             1   N
 88.07   F30           $86,233.59       8.57   FULL       8.250         357   P           SFR             1   N
 90.00   F30           $86,271.49      51.69   FULL       9.500         357   P           SFR             1   N
 65.00   F30           $86,299.70      19.06   FULL       8.750         357   P           SFR             1   N
 80.00   IOA3/6        $86,499.20      40.59   STD        7.475         356   P           SFR             1   N
 85.00   A3/6          $86,570.07      48.44   STD       10.290         357   P           SFR             1   N
 61.20   F30           $86,641.46      41.05   STD        8.375         356   P           SFR             1   N
100.00   F30           $86,938.29      48.14   STD       12.900         357   P           2F              2   N
 60.00   A2/6 B30/40   $86,962.68      31.10   STD        8.999         358   P           SFR             1   N
 80.00   F30           $87,043.61      23.82   FULL       8.600         357   P           SFR             1   N
 80.00   A2/6          $87,325.08      36.08   STD        9.300         354   P           SFR             1   Y
 79.91   F15           $87,433.68      47.69   STD        9.000         178   P           SFR             1   N
 65.00   IOA3/6        $87,750.00      40.79   FULL       7.200         359   P           SFR             1   N
 80.00   A3/6          $87,781.26      48.53   FULL       9.525         355   P           SFR             1   N
 35.20   A3/6          $87,846.68      48.00   FULL       8.740         357   P           SFR             1   N
 80.00   A3/6          $87,846.99      37.12   FULL       8.750         357   P           SFR             1   Y
 80.00   A3/6          $87,871.84      45.40   FULL       9.600         357   P           SFR             1   N
 80.00   A2/6          $87,905.49      40.30   FULL       9.100         358   P           SFR             1   Y
 81.48   A2/6          $87,919.96      21.48   FULL       9.890         358   P           SFR             1   N
 80.00   A2/6          $87,945.30      44.17   STD        8.375         359   P           SFR             1   Y
 77.88   A2/6 B30/40   $87,946.26      12.20   LIM        7.790         358   P           SFR             1   Y
 83.81   B30/40        $87,949.26      28.77   FULL       7.990         358   P           SFR             1   N
100.00   B15/30        $88,116.77      47.06   STD       11.615         177   P           SFR             2   N
 90.00   A2/6 B30/40   $88,164.04      38.55   STD       10.525         357   I           2F              1   N
 79.98   A3/6 B30/40   $88,255.14      47.66   STD        9.800         357   P           CO              1   Y
 77.39   F20           $88,511.83      46.46   FULL       7.450         237   P           SFR             1   N
 90.00   A3/6          $88,551.14      46.62   FULL      10.850         357   P           SFR             1   Y
100.00   B15/30        $88,574.11      36.22   FULL       9.300         171   P           PUD             2   N
 84.66   A3/6          $88,797.22      53.10   FULL       9.340         358   P           SFR             1   N
100.00   A3/6          $88,852.77      14.11   FULL       8.990         357   S           SFR             1   N
 70.00   A2/6          $88,857.63      43.49   FULL       9.650         359   P           SFR             1   N
100.00   B15/30        $88,907.46      41.53   STD       12.500         176   P           CO              2   N
100.00   F30           $88,908.89      45.04   STD       12.570         356   P           2F              2   N
 80.00   A2/6          $88,917.03      38.28   STD        7.875         358   P           SFR             1   Y
100.00   B15/30        $88,920.06      39.76   STD       11.840         177   P           PUD             2   N
 67.42   A2/6 B30/40   $88,921.94      52.86   FULL       8.950         356   P           SFR             1   N
 85.00   A3/6          $89,035.86      28.82   STD        8.600         356   P           SFR             1   N
 85.00   A2/6          $89,044.95      34.80   STD        9.900         355   P           SFR             1   Y
 90.00   A2/6          $89,136.21      38.90   STD       10.500         356   P           SFR             1   N
 85.00   A3/6          $89,152.94      48.46   STD        9.040         358   I           SFR             1   N
 80.00   A3/6          $89,178.42      42.15   FULL       7.300         354   P           SFR             1   Y
 90.61   F20           $89,247.14      40.76   FULL       8.125         237   P           SFR             1   N
 89.50   A2/6          $89,377.01      32.16   FULL       7.900         358   P           SFR             1   N
 95.00   A2/6          $89,446.00      23.78   STD        9.675         356   P           SFR             1   N
 80.00   F30           $89,468.75      49.02   STD       10.940         356   P           SFR             1   N
 89.99   A2/6          $89,672.51      32.51   STD        9.440         355   I           3F              1   N
 24.66   F30           $89,730.28      48.77   FULL       7.500         356   P           CO              1   N
 75.00   A3/6          $89,751.07      23.94   FULL       7.900         356   P           SFR             1   N
 90.00   A2/6          $89,826.64      25.09   FULL       8.250         357   I           TH              1   N
 63.38   A3/6          $89,835.28      44.89   STD        8.500         357   I           SFR             1   N
 90.00   A3/6          $89,843.52      50.03   FULL       8.750         357   P           SFR             1   N
100.00   F30           $89,843.52      45.22   FULL       8.750         357   P           SFR             1   N
 75.00   A2/6          $89,852.65      41.53   STD        9.040         357   I           2F              1   N
 75.00   A3/6          $89,865.72      30.08   FULL       7.490         358   P           SFR             1   N
100.00   B15/30        $89,866.45      36.89   STD       11.925         175   P           SFR             2   N
 90.00   A3/6          $89,897.99      44.20   FULL       8.840         358   I           SFR             1   Y
100.00   A3/6          $89,900.49      50.41   FULL      10.890         357   P           SFR             1   N
 60.81   A3/6          $89,909.23      29.84   LIM        9.400         358   P           SFR             1   N
 90.00   A3/6          $89,912.97      44.07   FULL       9.600         358   P           SFR             1   N
100.00   B15/30        $89,913.64      45.01   STD       11.540         177   P           CO              2   N
 80.00   A3/6          $89,958.39      41.31   STD        7.990         356   P           SFR             1   Y
100.00   B15/30        $90,530.05      45.87   STD        9.500         170   P           SFR             2   N
 50.00   F30           $90,619.97      34.84   FULL       7.400         356   P           CO              1   N
 75.00   A2/6 B30/40   $90,709.59      36.83   STD        8.875         358   P           SFR             1   N
 85.00   A2/6          $90,752.82      42.85   FULL       8.200         357   P           SFR             1   N
 85.00   A3/6          $90,756.40      34.03   FULL       9.180         356   P           SFR             1   N
100.00   A2/6          $90,848.68      47.94   FULL      10.350         356   P           SFR             1   N
100.00   A2/6          $90,940.79      43.29   FULL      11.440         358   P           SFR             1   N
 55.15   A3/6 B30/40   $90,957.37      46.00   STD        8.700         358   P           SFR             1   N
 79.99   A3/6          $90,973.89      27.96   STD        7.250         357   P           SFR             1   N
 80.00   F30           $91,067.85      46.72   FULL       9.625         357   P           SFR             1   N
 80.00   A2/6          $91,105.24      26.13   FULL       9.259         358   P           SFR             1   Y
 80.00   IOA3/6        $91,129.45      45.42   STD        9.250         352   P           SFR             1   Y
 75.00   F30           $91,330.79      49.18   STD        8.450         357   P           SFR             1   N
 75.00   A3/6          $91,397.35      21.39   FULL       8.890         358   P           SFR             1   N
 80.00   F30           $91,469.90      38.48   STD        8.990         359   P           SFR             1   Y
 78.46   A3/6          $91,656.05      33.52   FULL       7.240         358   P           SFR             1   N
 85.00   B30/40        $91,736.19      26.54   STD        8.750         357   P           SFR             1   N
 80.00   A3/6          $91,767.47      32.73   FULL       6.890         357   P           SFR             1   N
 65.25   F30           $91,770.20      35.07   FULL       6.950         357   P           SFR             1   N
100.00   B15/30        $91,823.67      51.53   STD       10.750         175   P           SFR             2   N
 80.00   F30           $91,851.83      38.95   FULL      10.500         356   P           SFR             1   N
100.00   B15/30        $91,865.14      47.83   STD       11.540         177   P           SFR             2   N
 80.00   A2/6          $91,865.73      40.09   STD        7.600         358   P           SFR             1   Y
 80.00   A2/6          $91,892.08      33.17   STD        8.675         358   P           PUD             1   Y
 80.00   A3/6          $91,893.53      44.69   FULL       8.740         358   I           SFR             1   Y
 80.00   A2/6          $91,897.52      48.14   FULL       8.925         358   P           SFR             1   Y
 80.00   A2/6          $91,898.38      36.30   FULL       8.965         358   P           SFR             1   N
 80.00   A3/6          $91,910.27      49.55   STD        9.560         358   P           SFR             1   N
 80.00   A2/6 B30/40   $91,913.63      19.98   FULL       7.725         357   P           SFR             1   Y
 68.15   B30/40        $91,940.35      34.80   STD        8.990         357   P           SFR             1   N
 95.00   A2/6          $91,972.34      42.61   FULL       9.950         358   I           SFR             1   N
 80.00   A3/6 B30/40   $91,972.91      41.16   FULL      10.250         358   P           SFR             1   N
 80.00   IOA3/6        $92,000.00      44.60   STD        7.250         359   P           SFR             1   Y
 72.07   F30           $92,119.56      41.56   FULL       9.740         357   P           TH              1   N
 80.00   A2/6          $92,297.62      28.15   FULL       8.950         358   P           CO              1   Y
100.00   F30           $92,359.50      52.32   FULL       9.400         357   P           SFR             1   N
 85.00   A3/6          $92,526.01      39.80   FULL      10.000         357   P           SFR             1   N
 90.00   A3/6          $92,629.14      39.65   FULL      10.700         358   P           SFR             1   N
 80.00   A3/6          $92,670.17      44.06   FULL       9.790         357   P           SFR             1   N
100.00   B15/30        $92,686.07      48.36   STD       11.600         172   P           SFR             2   N
100.00   B15/30        $92,713.14      38.71   STD       11.350         171   P           PUD             2   N
100.00   B15/30        $92,716.65      42.28   STD       11.840         177   P           SFR             2   N
 83.00   F30           $92,755.44      42.01   FULL       7.590         357   P           SFR             1   N
 67.88   F30           $92,781.40      27.32   FULL       8.700         356   P           CO              1   N
100.00   F30           $92,818.82      49.41   STD       12.250         355   P           SFR             2   N
 69.92   A3/6          $92,873.95      47.35   STD        9.940         357   P           SFR             1   N
100.00   B15/30        $92,884.31      45.16   STD       11.690         176   P           SFR             2   N
 73.23   A2/6 B30/40   $92,964.60      49.81   STD        9.400         358   P           SFR             1   N
 80.00   A2/6          $93,019.05      45.14   STD        9.850         354   P           SFR             1   Y
 85.00   A2/6          $93,279.09      48.27   FULL       8.675         356   P           SFR             1   N
 85.00   A3/6          $93,321.35      47.39   FULL       8.290         357   P           SFR             1   N
 85.00   A3/6          $93,327.48      24.88   FULL       9.750         358   P           SFR             1   N
 85.00   A3/6          $93,345.31      36.71   LIM        8.990         357   P           SFR             1   N
 80.00   A2/6          $93,352.69      55.54   FULL       9.225         357   P           SFR             1   Y
 85.00   A2/6          $93,381.55      43.87   FULL       8.300         358   P           SFR             1   N
 89.90   B30/40        $93,435.00      50.52   FULL       8.750         357   P           SFR             1   N
 95.00   F30           $93,624.55      43.70   STD       10.000         357   P           SFR             2   N
100.00   B15/30        $93,683.30      47.94   STD       11.690         176   P           SFR             2   N
 90.00   A2/6          $93,812.88      54.28   FULL       9.590         357   P           SFR             1   Y
100.00   B15/30        $93,843.18      49.37   STD       11.390         175   P           4F              2   N
 89.52   A3/6          $93,859.88      35.57   FULL       9.490         357   P           SFR             1   N
100.00   B15/30        $93,938.94      45.89   STD       13.290         177   P           SFR             2   N
 79.97   A2/6          $94,067.93      46.60   STD        7.800         358   P           SFR             1   N
 80.00   A2/6          $94,161.82      27.22   STD        8.375         356   P           SFR             1   Y
 75.00   A2/6          $94,258.42      41.95   STD        8.290         356   P           CO              1   N
 85.00   A3/6          $94,264.19      36.89   FULL       9.890         358   P           SFR             1   N
 80.00   A2/6          $94,264.70      36.60   STD        7.690         358   P           SFR             1   N
 90.00   F30           $94,308.50      30.50   FULL       8.000         357   P           SFR             1   N
 70.00   F30           $94,330.20      36.47   FULL       8.590         357   P           SFR             1   N
 90.00   A2/6 B30/40   $94,484.70      41.20   STD        9.925         359   P           SFR             1   N
 90.00   IOA3/6        $94,500.00      34.56   FULL       8.915         358   P           SFR             1   N
 95.00   F30           $94,778.95      35.10   FULL       8.750         356   P           SFR             1   N
 48.72   A2/6          $94,836.75      38.86   FULL       6.775         358   P           SFR             1   N
 73.64   A3/6          $94,851.33      30.49   STD        7.250         358   P           SFR             1   N
 52.78   A2/6 B30/40   $94,882.40      47.76   FULL       7.775         356   P           SFR             1   N
 63.33   A2/6          $94,929.49      46.64   FULL       7.500         359   P           SFR             1   N
 80.00   F30           $95,144.08      45.49   STD        8.650         359   I           CO              1   N
 90.00   A2/6          $95,312.02      41.94   STD        9.825         358   I           SFR             1   N
 80.00   A2/6          $95,495.47      52.52   FULL       9.950         354   P           SFR             1   Y
100.00   B15/30        $95,601.69      41.91   FULL      10.390         175   P           SFR             2   N
100.00   B15/30        $95,658.15      49.02   STD       10.890         176   P           SFR             2   N
100.00   B15/30        $95,691.37      44.35   STD       11.500         175   P           2F              2   N
 80.00   A2/6          $95,789.18      46.08   FULL       7.600         357   P           SFR             1   Y
 80.00   F30           $95,789.32      46.93   FULL       7.940         357   P           SFR             1   N
100.00   B15/30        $95,801.61      42.01   STD       11.275         176   P           2F              2   N
 80.00   F30           $95,818.81      43.50   FULL       8.350         357   P           SFR             1   Y
 80.00   A2/6          $95,845.06      42.77   STD       10.490         356   P           CO              1   N
 80.00   A3/6          $95,864.46      37.37   FULL       7.765         358   P           SFR             1   N
 80.00   A2/6          $95,865.40      48.69   STD        7.800         358   P           SFR             1   Y
 79.99   A3/6          $95,876.23      50.50   STD       10.650         357   P           SFR             1   N
 80.00   A2/6          $95,891.12      46.67   FULL       8.838         358   P           SFR             1   N
 80.00   A2/6          $95,900.08       0.00   STD        9.250         358   P           SFR             1   Y
100.00   B15/30        $95,904.81      48.51   FULL      11.390         177   P           CO              2   N
 80.00   A3/6          $95,907.17      54.57   FULL       9.600         358   P           SFR             1   N
 80.00   A2/6          $95,916.51      43.79   STD       10.100         358   P           SFR             1   Y
 80.00   A2/6          $95,920.92      48.33   FULL       6.975         359   P           SFR             1   Y
 90.00   A2/6          $96,175.50      44.95   FULL       8.200         358   P           SFR             1   N
 82.48   F30           $96,279.01      27.35   STD        7.390         357   P           SFR             1   N
 75.00   A2/6          $96,323.81      17.63   FULL       9.340         353   P           SFR             1   N
100.00   F30           $96,588.32      38.38   FULL       8.750         358   P           SFR             1   N
 65.54   A2/6          $96,748.15      21.69   FULL       8.900         356   P           SFR             1   N
100.00   F30           $96,831.35      36.03   FULL       8.750         357   P           SFR             1   N
 66.90   F30           $96,869.78      26.78   FULL       8.015         358   P           PUD             1   N
 84.35   B30/40        $96,933.35      27.14   FULL       8.790         357   P           SFR             1   N
 90.00   F30           $97,031.01      28.20   LIM        8.750         357   P           SFR             1   N
 85.00   F30           $97,211.65      46.07   FULL      10.650         357   I           SFR             1   N
100.00   B15/30        $97,306.54      48.43   STD       11.540         177   P           SFR             2   N
 75.00   F30           $97,315.62      40.26   FULL       8.340         357   P           SFR             1   Y
 88.64   F30           $97,327.48      31.80   FULL       8.750         357   P           SFR             1   N
100.00   B15/30        $97,337.99      38.67   STD       11.540         178   P           3F              2   N
 80.00   A2/6          $97,369.53      45.97   STD        9.325         357   P           2F              1   Y
 75.00   A3/6          $97,391.27      28.51   STD       10.850         357   P           SFR             1   N
 75.00   A2/6          $97,449.45      33.80   STD        9.250         359   P           SFR             1   N
 80.00   A2/6          $97,498.40      40.58   STD        9.250         358   P           SFR             1   N
 90.00   A2/6          $97,510.72      47.63   FULL       9.700         357   I           SFR             1   N
 72.41   F30           $97,513.04      50.60   FULL       8.550         356   P           SFR             1   N
 85.00   A3/6          $97,541.70      48.47   FULL       7.750         357   I           SFR             1   N
 85.00   A2/6          $97,679.94      37.79   FULL      10.999         358   P           SFR             1   N
 95.00   A2/6          $97,765.80      45.12   FULL      10.150         358   P           SFR             1   N
100.00   B15/30        $97,780.34      43.00   STD       10.890         174   P           SFR             2   N
 70.00   F30           $97,780.44      12.81   STD        7.500         357   P           SFR             1   N
100.00   A2/6          $97,867.45      36.28   STD        9.950         357   P           CO              1   N
100.00   B15/30        $97,892.81      41.83   STD       10.940         177   P           SFR             2   N
 75.00   F30           $98,008.89      52.98   FULL       8.490         356   I           SFR             1   N
 61.18   A3/6 B30/40   $98,429.33      31.40   FULL       7.225         358   P           SFR             1   N
 90.00   A2/6          $98,546.63      17.38   FULL       8.225         353   P           SFR             1   N
 95.00   A2/6          $98,645.37      44.34   FULL       7.250         358   P           SFR             1   N
 80.00   A3/6          $98,652.90      29.38   FULL       7.500         358   P           SFR             1   Y
 90.00   F30           $98,747.44      38.33   FULL       8.300         356   P           SFR             1   N
 58.24   F30           $98,767.24      45.49   FULL       8.700         356   P           SFR             1   N
 80.00   IOA2/6        $98,800.00      31.57   FULL       7.475         358   P           SFR             1   Y
 99.00   B15/30        $98,833.89      47.69   FULL      11.390         175   P           SFR             2   N
 81.27   F30           $98,861.66      26.36   FULL       7.650         356   P           SFR             1   N
 90.00   A3/6          $98,880.69      31.33   FULL      10.490         357   P           SFR             1   Y
 80.00   A3/6          $98,913.94      42.23   STD        9.000         359   P           CO              1   Y
 79.99   A3/6          $98,992.98      46.58   STD        9.200         357   P           SFR             1   Y
 80.00   A3/6          $99,098.89      49.08   FULL       9.350         358   P           SFR             1   N
 79.98   A3/6          $99,307.95      27.23   FULL       8.240         357   P           CO              1   Y
 70.00   A3/6          $99,320.63      34.66   STD       10.500         358   P           SFR             1   N
 85.00   A2/6          $99,356.63      47.63   STD        9.740         358   I           SFR             1   Y
 74.07   F20           $99,454.84      51.55   FULL       7.500         237   P           SFR             1   N
100.00   B15/30        $99,462.63      39.79   STD       10.875         169   P           PUD             2   N
 80.00   A2/6          $99,581.51      45.06   FULL       7.890         354   P           SFR             1   Y
 99.98   B15/30        $99,666.28      49.98   STD       11.350         176   P           SFR             2   N
 55.56   A2/6          $99,734.33      45.80   FULL       8.100         356   P           SFR             1   N
 46.51   A2/6          $99,762.21      54.50   FULL       7.200         357   P           SFR             1   N
 79.98   A3/6          $99,770.84      42.34   FULL       8.200         358   P           SFR             1   Y
 80.00   A2/6          $99,791.12      18.52   FULL       7.850         357   I           SFR             1   N
 79.99   A3/6          $99,818.11      25.49   STD        8.890         357   P           SFR             1   N
 27.78   F30           $99,847.34      43.85   STD        7.375         358   P           SFR             1   N
 80.00   A2/6          $99,851.28      35.09   STD        9.500         357   P           SFR             1   N
 47.62   A2/6          $99,860.93       6.39   STD        7.840         358   I           2F              1   N
 80.00   F30           $99,861.20      33.75   FULL       7.850         358   P           SFR             1   N
 64.52   A2/6          $99,868.29      52.67   STD       10.075         357   P           SFR             1   N
100.00   F30           $99,868.59      52.96   STD       11.440         356   P           3F              2   N
 80.00   A2/6          $99,869.12      50.53   STD        8.140         358   P           SFR             1   N
 49.50   A2/6          $99,870.73      46.99   FULL       8.200         358   P           SFR             1   N
 69.93   A2/6          $99,873.02      46.08   STD        8.288         358   P           SFR             1   N
 80.00   F15           $99,888.94      22.40   FULL       7.600         177   P           SFR             1   Y
 80.00   A2/6          $99,901.22      46.23   STD        9.500         358   P           SFR             1   Y
100.00   B15/30        $99,918.70      47.33   STD       12.290         177   P           SFR             2   N
 88.50   A2/6 B30/40   $99,962.28      46.92   STD        9.430         358   I           SFR             1   N
 80.00   A3/6 B30/40   $99,963.05      49.52   FULL       9.500         358   P           SFR             1   N
 80.00   A2/6          $99,966.28      38.59   LIM        7.950         352   P           SFR             1   Y
 80.00   A3/6 B30/40   $99,967.74      29.23   STD        9.950         358   I           SFR             1   N


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
nonresearch personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



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ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



       CUSIP OR ISIN                        --
          BBERG ID                          --
         DEAL NAME               IXIS 2006-HE3
        ISSUER NAME             Morgan Stanley
        PARENT NAME                         --
   ORIGINAL CLASS BALANCE                   --
   CURRENT CLASS BALANCE                    --
       PORTFOLIO NAME                       --
           SECTOR                           --
        SETTLE DATE                         --
     COLLATERAL BALANCE         834,934,301.16
    ORIGINAL # OF LOANS                  4,207
     AVG. LOAN BALANCE              198,463.11
        INITIAL WAC                      8.458
        INITIAL WAM                        354
          REM. WAM                         351
          MOODY'S                           --
            S&P                             --
           FITCH                            --
          MOODY'S                           --
            S&P                             --
           FITCH                            --
          WA FICO                          626
           < 500                         0.00%
           < 550                        12.02%
            <575                        19.53%
           < 600                        29.71%
           > 650                        32.74%
           > 700                         9.82%
           WA DTI                        42.79
           > 40%                        73.09%
           > 45%                        45.22%
           WA LTV                        80.13
            > 80                        31.56%
            > 90                         9.29%
            % IO                        19.46%
          IO FICO                          659
     IO WITH FICO <575                   0.06%
          IO TERM                           60
         IO TERM %                          --
           IO LTV                        80.60
       % 15 YR FIXED                     0.23%
        %30 YR FIXED                     8.01%
         % BALLOONS                     35.54%
           40 YR                         0.00%
        2/28 HYBRIDS                    68.72%
        3/27 HYBRIDS                    17.44%
        5/25 HYBRIDS                     0.47%
      <= 1/29 HYBRIDS                    0.07%
         % 2ND LIEN                      3.49%
       % SILENT 2NDS                    34.70%
            MTA?                            --
         MTA LIMIT                          --
           NEGAM?                        0.00%
         MI COMPANY                         --
       MI COVERAGE %                     0.00%
       SINGLE FAMILY                    78.06%
         2-4 FAMILY                      9.35%
           CONDO                         6.23%
           CO-OP                         0.00%
            PUD                          6.36%
             MH                          0.00%
           OWNER                        92.54%
        SECOND HOME                      1.52%
          INVESTOR                       5.95%
            REFI                         4.78%
          CASH OUT                      52.45%
          PURCHASE                      42.77%
          FULL DOC                      41.02%
        REDUCED DOC                     58.98%
           NO DOC                        0.00%
          STATE 1                           CA
         % STATE 1                      32.46%
          STATE 2                           FL
         % STATE 2                      14.27%
          STATE 3                           IL
         % STATE 3                       6.86%
          STATE 4                           NY
         % STATE 4                       5.00%
           SUB %                            --
        INITIAL OC %                        --
TARGET OC % BEFORE STEPDOWN                 --
 TARGET OC % AFTER STEPDOWN                 --
         OTHER CE%                          --
         TOTAL CE %                         --
  INITIAL EXCESS INTEREST                   --
        ORIGNATORS 1                 First NLC
       % ORIGNATORS 1                   39.01%
        ORIGNATORS 2               New Century
       % ORIGNATORS 2                   16.42%
        ORIGNATORS 3                Accredited
       % ORIGNATORS 3                   12.16%
       ISSUER CONTACT                       --
       ISSUER NUMBER                        --
        SERVICERS 1                      Saxon
       % SERVICERS 1                    94.04%
        SERVICERS 2           Master Financial
       % SERVICERS 2                     5.96%
        SERVICERS 3
       % SERVICERS 3
      SERVICER CONTACT                      --
      SERVICER NUMBER                       --
      MASTER SERVICER                       --
          TRUSTEE                           --
      TRUSTEE CONTACT                       --
       TRUSTEE NUMBER                       --
    CREDIT RISK MANAGER                     --
        UNDERWRITER                         --
        DERIVATIVES                         --
      CREDIT COMMENTS                       --
           NEGAM                            --
        MAXIM OWNED                         --
        INTEX STRESS                        --
         TERM SHEET                         --
        HARD PROSSUP                        --
       ELECT. PROSSUP                       --



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



           FIELD                    VALUE
           -----                    -----
           CUSIP                            --
       SECURITY_DES                         --
      DISTINCT ISSUER                       --
        ISSUER NAME             Morgan Stanley
        PARENT NAME                         --
          SECTOR                            --
        SETTLE DATE                         --
    Collateral Balance          834,934,301.16
    Original # of Loans                  4,207
     Avg. Loan Balance              198,463.11
        Initial WAC                      8.458
        Initial WAM                        354
          Rem. WAM                         351
         RTG MOODY                          --
          RTG SP                            --
         RTG FITCH                          --
       Derived MOODY                        --
        Derived SP                          --
       Derived FITCH                        --
          WA FICO                          626
           < 500                          0.00%
           < 550                         12.02%
           < 575                         19.53%
           < 600                         29.71%
           > 650                         32.74%
           > 700                          9.82%
          WA DTI                         42.79
           > 40%                         73.09%
           > 45%                         45.22%
          WA LTV                         77.35
           > 80                          28.10%
           > 90                           5.85%
           % IO                          19.46%
          IO FICO                          659
     IO with FICO <575                    0.06%
          IO LTV                         80.60
 IO loans<60mo term(%Pool)                0.13%
           FIXED                         13.20%
        % Balloons                       35.54%
           40 yr                         32.76%
       2/28 Hybrids                      68.72%
       3/27 Hybrids                      17.44%
       5/25 Hybrids                       0.47%
      <= 1/29 Hybrids                     0.07%
        % 2nd Lien                        3.49%
       % Silent 2nds                     34.70%
           MTA?                             --
         MTA Limit                          --
          Negam?                          0.00%
        MI Company                          --
       MI coverage %                        --
       Single Family                     78.06%
        2-4 Family                        9.35%
           Condo                          6.23%
           Co-op                          0.00%
            PUD                           6.36%
            MH                            0.00%
           Owner                         92.54%
        Second Home                       1.52%
         Investor                         5.95%
            Refi                          4.78%
          Cash Out                       52.45%
          Purchase                       42.77%
         Full Doc                        41.02%
        Reduced Doc                      58.98%
          No Doc                          0.00%
          State 1                           CA
         % State 1                       32.46%
          State 2                           FL
         % State 2                       14.27%
          State 3                           IL
         % State 3                        6.86%
          State 4                           NY
         % State 4                        5.00%
           Sub %                            --
       Initial OC %                         --
Target OC % before stepdown                 --
Target OC % after stepdown                  --
         Other CE%                          --
        Total CE %                          --
  Initial Excess Interest                   --
       Orignators 1                  First NLC
      % Originator 1                     39.01%
       Orignators 2                New Century
      % Originator 2                     16.42%
       Orignators 3                 Accredited
      % Originator 3                     12.16%
      Issuer Contact                        --
       Issuer Number                        --
         Servicer1                       Saxon
       % Servicer 1                      94.04%
        Servicer 2            Master Financial
       % Servicer 2                       5.96%
        Servicer 3
       % Servicer 3                    #VALUE!
     Servicer Contact                       --
      Servicer Number                       --
      Master Servicer                       --
          Trustee                           --
      Trustee Contact                       --
      Trustee Number                        --
    Credit Risk Manager                     --
        Underwriter                         --
        Derivatives                         --
      Credit Comments                       --
        Maxim Owned                         --
       Intex Stress                         --
        Term Sheet                          --
       Hard Prossup                         --
      Elect. Prossup                        --

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision. Options are not for everyone. Before purchasing
or writing options, investors should understand the nature and extent of their
rights and obligations and be aware of the risks involved, including the risks
pertaining to the business and financial condition of the issuer and the
security/instrument. A secondary market may not exist for these securities. For
Morgan Stanley customers who are purchasing or writing exchange-traded options,
please review the publication 'Characteristics and Risks of Standardized
Options,' which is available from your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



H   Pool Data

                                  POOL SUMMARY

Total Issue Balance (USD)
Original Mortgage Pool Balance (USD)                             836,093,239.30
Current Mortgage Pool Balance (USD)                              834,934,301.16
Total Number of Loans                                                     4,207
Average Loan Balance (USD)                                           198,463.11
1st lien (%age)                                                           96.51
2nd lien (%age)                                                            3.49
WA FICO                                                                     626
 - Minimum FICO                                                             500
 - Maximum FICO                                                             814
WA LTV                                                                    80.13
 - Minimum LTV                                                            14.63
 - Maximum LTV                                                           100.00
WA DTI                                                                    42.79
 - Non-Zero Minimum DTI                                                    1.78
 - Maximum DTI                                                            59.92
WA Age (Months)                                                               3
WA Remaining Term (Months)                                                  351
Aquired Loans                                                               100%
North California (% of Pool)                                               9.78
South California (% of Pool)                                              22.68

                                NORTH CALIFORNIA

% of State                                                                   30%
WA FICO                                                                     641
 - Minimum FICO                                                             500
 - Maximum FICO                                                             796
WA LTV                                                                    79.72
 - Minimum LTV                                                            18.18
 - Maximum LTV                                                           100.00
Highest Zip-Code Density (% of State)                                      0.79%
Zip-Code with Highest Density                                             94533

                                SOUTH CALIFORNIA

% of State                                                                   70%
WA FICO                                                                     641
Minimum FICO                                                                500
Maximum FICO                                                                809
WA LTV                                                                    80.28
Minimum LTV                                                               18.33
Maximum LTV                                                              100.00
Highest Zip-Code Density (% of State)                                      1.13%
Zip-Code with Highest Density                                             92509

    CLASSIFICATION           TOTAL      CHECK
    --------------        -----------   -----
Mortgage Type             834,934,301     [ ]
Loan-to-Value             834,934,301     [ ]
FICO                      834,934,301     [ ]
Purpose                   834,934,301     [ ]
Occupancy                 834,934,301     [ ]
Loan Balance              834,934,301     [ ]
Property Type             834,934,301     [ ]
Documentation Type        834,934,301     [ ]
Fixed Period              834,934,301     [ ]
Debt-to-Income Ratio      834,934,301     [ ]
Geographic Distribution   834,934,301     [ ]

                                 PER ANNUM FEES

Servicer Fees                                                             0.520%
Cost of Carry

            MORTGAGE TYPE              WA LTV   WA FICO       BALANCE
            -------------              ------   -------   --------------
Fixed - 10 Year                         64.85       631       496,311.23
Fixed - 15 Year                         69.52       634     1,940,686.21
Fixed - 20 Year                         75.91       634     1,990,559.09
Fixed - 25 Year                         84.90       622       245,515.20
Fixed - 30 Year                         78.47       620    62,069,626.83
Interest Only Fixed - 30 Year           77.31       655     4,811,984.77
Balloon - 15/30                         99.11       657    23,914,669.87
Balloon - 30/40                         78.80       627    14,725,318.60
ARM - 1 Year/6 Month                    84.95       602       542,838.36
ARM - 2 Year/6 Month                    79.02       614   227,698,737.74
ARM - 3 Year/6 Month                    78.83       592    77,786,207.66
ARM - 5 Year/6 Month                    76.09       631     1,990,883.71
IO ARM - 2 Year/6 Month - 2 Yr IO       79.45       606       431,400.00
IO ARM - 2 Year/6 Month - 5 Yr IO       80.77       658   132,088,152.28
IO ARM - 2 Year/6 Month - 10 Yr IO      80.00       641       186,686.00
IO ARM - 3 Year/6 Month - 3 Yr IO       77.28       631       639,500.00
IO ARM - 3 Year/6 Month - 5 Yr IO       80.65       666    22,362,443.82
IO ARM - 3 Year/6 Month - 10 Yr IO      80.00       652        92,000.00
IO ARM - 5 Year/6 Month - 5 Yr IO       76.10       686     1,418,400.00
IO ARM - 5 Year/6 Month -10 Yr IO       83.29       646       477,439.00
ARM - 2 Year/6 Month Balloon - 30/40    80.12       626   213,147,286.17
ARM - 3 Year/6 Month Balloon - 30/40    80.00       616    44,732,368.61
ARM - 2 Year/6 Month Balloon - 30/50    80.00       625       203,934.59
Dual Amort - 10/40 - 2 Year/6 Month     75.59       631       941,351.42

                 LTV                   WA LTV   WA FICO       BALANCE
                 ---                   ------   -------   --------------
 0.01 -  20.00                          17.22       580       579,998.35
20.01 -  25.00                          23.60       599     1,072,050.89
25.01 -  30.00                          27.12       614       789,898.44
30.01 -  35.00                          32.73       636     1,258,495.08
35.01 -  40.00                          38.59       594     3,272,611.37
40.01 -  45.00                          42.50       587     6,037,572.66
45.01 -  50.00                          47.94       602     7,555,972.73
50.01 -  55.00                          52.87       581     9,792,664.38
55.01 -  60.00                          57.94       593    11,824,392.72
60.01 -  65.00                          63.37       574    23,050,855.01
65.01 -  70.00                          68.87       581    37,536,121.93
70.01 -  75.00                          73.95       580    60,082,262.23
75.01 -  80.00                          79.84       643   408,554,736.57
80.01 -  85.00                          84.51       606    87,800,198.45
85.01 -  90.00                          89.55       627    98,133,687.14
90.01 -  95.00                          94.65       643    39,254,352.82
95.01 - 100.00                          99.87       652    38,338,430.39

                FICO                   WA LTV   WA FICO       BALANCE
                ----                   ------   -------   --------------
NA
321 - 340
341 - 360
361 - 380
381 - 400
401 - 420
421 - 440
441 - 460
461 - 480
481 - 500                               72.18       500     1,982,483.00
501 - 520                               72.32       510    36,928,474.34
521 - 540                               72.08       530    40,880,616.22
541 - 560                               76.23       551    46,680,583.46
561 - 580                               78.07       571    56,804,400.06
581 - 600                               80.35       591    70,194,614.65
601 - 620                               81.53       610   113,172,024.94
621 - 640                               81.54       630   137,268,036.12
641 - 660                               81.79       650   111,780,792.35
661 - 680                               81.45       670    82,802,760.40
681 - 700                               81.52       690    54,457,129.48
701 - 720                               83.17       709    31,386,760.01
721 - 740                               82.80       730    21,007,138.81
741 - 760                               81.74       751    14,358,085.40
761 - 780                               81.72       770     9,253,305.31
781 - 800                               80.13       787     5,001,236.78
801 - 820                               86.00       807       975,859.83
820 +
Unknown

                                                           BALANCE WITH
                 LTV                    MIG%    WA FICO        MIG
                 ---                   ------   -------   --------------
  0.01 -  20.00                          0.00         0             0.00
 20.01 -  25.00                          0.00         0             0.00
 25.01 -  30.00                          0.00         0             0.00
 30.01 -  35.00                          0.00         0             0.00
 35.01 -  40.00                          0.00         0             0.00
 40.01 -  45.00                          0.00         0             0.00
 45.01 -  50.00                          0.00         0             0.00
 50.01 -  55.00                          0.00         0             0.00
 55.01 -  60.00                          0.00         0             0.00
 60.01 -  65.00                          0.00         0             0.00
 65.01 -  70.00                          0.00         0             0.00
 70.01 -  75.00                          0.00         0             0.00
 75.01 -  80.00                          0.00         0             0.00
 80.01 -  85.00                          0.00         0             0.00
 85.01 -  90.00                          0.00         0             0.00
 90.01 -  95.00                          0.00         0             0.00
 95.01 - 100.00                          0.00         0             0.00

               PURPOSE                 WA LTV   WA FICO       BALANCE
               -------                 ------   -------   --------------
Refinance - Cashout                     77.84       603   437,916,029.78
Purchase                                82.85       656   357,138,841.16
Refinance - Rate Term                   80.94       614    39,879,430.22

              OCCUPANCY                WA LTV   WA FICO       BALANCE
              ---------                ------   -------   --------------
Primary                                 79.97       624   772,614,335.34
Investment                              81.90       652    49,653,254.04
Second Home                             82.77       652    12,666,711.78

            LOAN BALANCE               WA LTV   WA FICO       BALANCE
            ------------               ------   -------   --------------
<200000                                 80.10       613   295,365,549.41
<400000                                 79.55       628   350,635,844.40
<600000                                 81.13       642   148,145,416.06
>600000                                 81.77       653    40,787,491.29

            PROPERTY TYPE              WA LTV   WA FICO       BALANCE
            -------------              ------   -------   --------------
Single Family Residence                 80.29       622   651,774,115.75
Planned Unit Development                80.00       628    53,080,620.23
2-4 Family                              78.31       645    78,056,396.73
Condominium                             80.96       641    52,023,168.45
Manufactured/Mobile Home

         DOCUMENTATION TYPE            WA LTV   WA FICO       BALANCE
         ------------------            ------   -------   --------------
Full Documentation                      80.02       607   342,451,104.45
Stated Documentation                    80.07       641   456,501,438.28
Limited Documentation                   81.92       619    35,981,758.43

        FIXED PERIOD (MONTHS)          WA LTV   WA FICO       BALANCE
        ---------------------          ------   -------   --------------
0                                       82.69       631   110,194,671.80
1
6
12                                      84.95       602       542,838.36
24                                      79.83       629   574,697,548.20
36                                      79.46       611   145,612,520.09
60                                      76.98       653     3,886,722.71
120

                 DTI                   WA LTV   WA FICO       BALANCE
                 ---                   ------   -------   --------------
         <= 0.00                        75.90       688     3,583,945.23
    0.01 -  5.00                        82.84       624       932,509.63
    5.01 -  10.00                       74.42       593     1,640,155.81
   10.01 -  15.00                       78.68       633     4,053,408.45
   15.01 -  20.00                       73.59       597     6,891,373.19
   20.01 -  25.00                       80.30       602    16,047,340.10
   25.01 -  30.00                       79.32       625    31,652,725.51
   30.01 -  35.00                       77.42       615    55,348,836.09
   35.01 -  40.00                       79.73       623   104,558,477.41
   40.01 -  45.00                       80.20       634   232,650,007.86
   45.01 -  50.00                       81.23       629   295,759,293.23
   50.01 -  55.00                       79.41       609    74,787,971.48
   55.01 >=                             80.21       625     7,028,257.17
Unknown

       GEOGRAPHIC DISTRIBUTION         WA LTV   WA FICO       BALANCE
       -----------------------         ------   -------   --------------
Alabama                                 81.08       558     1,519,188.40
Alaska                                  80.00       659       133,712.98
Arizona                                 78.87       612    31,983,040.45
Arkansas                                81.69       590     1,463,671.58
California                              80.11       641   271,051,189.84
Colorado                                81.52       630     8,053,444.97
Connecticut                             78.40       616    14,903,474.26
Delaware                                80.69       621     1,743,122.48
District of Columbia                    74.39       640     2,015,942.53
Florida                                 79.54       622   119,157,018.56
Georgia                                 82.98       614    13,333,788.34
Hawaii                                  78.34       652    11,337,657.06
Idaho                                   85.33       612     3,303,211.77
Illinois                                81.62       622    57,253,943.39
Indiana                                 85.90       593     4,368,330.96
Iowa                                    78.52       602     1,436,424.37
Kansas                                  76.18       588     2,186,015.79
Kentucky                                82.57       593       933,525.57
Louisiana                               83.67       608     2,482,710.79
Maine                                   89.72       657     1,601,768.99
Maryland                                78.32       613    25,717,947.22
Massachusetts                           81.80       617    20,615,446.77
Michigan                                82.68       594    13,436,420.95
Minnesota                               81.04       627     3,885,829.99
Mississippi                             90.47       570       525,541.04
Missouri                                84.41       596     7,492,887.28
Montana                                 73.46       566       297,455.05
Nebraska                                87.25       612       323,119.45
Nevada                                  81.56       636    19,876,786.01
New Hampshire                           82.39       639     1,140,538.41
New Jersey                              77.01       607    20,673,940.41
New Mexico                              84.27       607     2,654,554.65
New York                                76.69       650    41,732,227.21
North Carolina                          81.62       615     4,797,169.64
North Dakota                            92.38       588       438,789.85
Ohio                                    84.45       596     4,958,808.03
Oklahoma                                82.49       640     1,193,942.44
Oregon                                  79.82       606     8,388,711.24
Pennsylvania                            81.23       608    15,389,416.62
Rhode Island                            79.23       617    15,231,724.63
South Carolina                          84.47       642       699,964.84
South Dakota                            63.19       514        85,157.70
Tennessee                               82.74       609     7,215,691.93
Texas                                   81.65       615    26,645,529.27
Utah                                    80.61       630     2,950,694.25
Vermont                                 71.05       597       201,985.53
Virginia                                78.29       608    17,526,643.12
Washington                              80.51       606    16,283,977.29
West Virginia
Wisconsin                               82.91       622     3,942,374.63
Wyoming                                 75.02       569       349,842.63
                                        -----       ---   --------------
TOTAL:                                  80.13       626   834,934,301.16
                                        =====       ===   ==============

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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                                                                  834,934,301.16

AGGREGATE LOANS (FIRST LIEN ONLY)



                                                                                                              % Second Lien
                                                                                                              (Simultaneous
FICO                % of total deal   Avg LTV   Max LTV   % Full Doc   % Owner Occ    % IO    WAC    MARGIN     or Silent)
----                ---------------   -------   -------   ----------   -----------   -----   -----   ------   -------------

<= 519                        4.39%     72.17        90        69.49          98.8    0.59    9.53    6.611            2.22
520 - 539                     4.95%     72.07        95        56.36         98.13       0   9.422    6.753            3.27
540 - 559                     5.52%      76.1      99.6           57         96.91    0.54   9.111    6.596            4.14
560 - 579                     6.23%     77.74       100        51.56         96.79    1.37   8.851    6.621            5.83
580 - 599                     8.52%     80.36       100         55.3         93.35    4.77   8.601     6.55           14.68
600 - 619                    12.93%     80.85       100        54.06         93.56   25.25   8.255    6.275           33.51
620 - 639                    15.64%     80.43       100         38.7         93.62   23.46   8.152    6.394           49.74
640 - 659                    12.87%     80.58       100         30.6         89.55   28.95   8.026    6.348           55.89
660 - 679                     9.31%     80.83       100        26.16         88.24    30.1   7.966    6.243            63.1
680 - 699                     6.50%     80.35       100        25.39         87.61   33.69   7.864     5.94           58.07
700 - 719                     3.79%     82.14       100         24.5         88.67   32.17   7.897    6.011            67.1
720 - 739                     2.38%      81.9       100        27.37         83.52   31.98    7.84    6.097           67.42
740 - 759                     1.71%      81.3       100        16.09         77.39   27.81   8.059    5.991           70.21
760 - 779                     1.15%     80.87        90        18.77         97.07   48.97   7.591     6.16            78.6
780 - 799                     0.54%     79.74        90        30.29         92.14   32.34   7.559    6.384           62.69
800 >=                        0.09%      81.6        90        15.99           100   84.01   7.174    6.288           84.01
                             -----      -----       ---        -----         -----   -----   -----    -----           -----
TOTAL:                       96.51%     79.43       100        41.68         92.29   20.17   8.349    6.361           39.08
                             =====      =====       ===        =====         =====   =====   =====    =====           =====


AGGREGATE LOANS (SECOND LIEN ONLY)



FICO                % of total deal   Avg LTV   Max LTV   % Full Doc   % Owner Occ    % IO     WAC    MARGIN
----                ---------------   -------   -------   ----------   -----------   -----   ------   ------

<= 519                        0.01%       100       100        42.73           100       0   11.118        0
560 - 579                     0.02%       100       100          100           100       0   11.911        0
580 - 599                     0.08%       100       100        69.11           100       0   12.619        0
600 - 619                     0.36%     99.75       100        56.75           100       0     11.7        0
620 - 639                     0.95%     99.89       100         17.1         99.43       0   11.928        0
640 - 659                     0.77%     99.71       100         8.99           100       0   11.684        0
660 - 679                     0.45%     99.84       100        14.08          99.1       0   11.262        0
680 - 699                     0.36%     99.81       100        27.63         98.13       0   10.967        0
700 - 719                     0.17%     99.86       100        38.74           100       0    10.54        0
720 - 739                     0.13%       100       100         8.52           100       0   10.828        0
740 - 759                     0.04%     99.38       100        15.48           100       0   10.878        0
760 - 779                     0.05%     99.48       100            0         89.69       0   10.786        0
780 - 799                     0.07%     84.64       100        52.31           100       0    9.835        0
800 >=                        0.03%       100       100            0           100       0    9.934        0
                              ----      -----       ---        -----         -----       -   ------        -
TOTAL:                        3.49%     99.52       100        22.77         99.38       0   11.483        0
                              ====      =====       ===        =====         =====       =   ======        =


SECOND LIEN LOANS
FRM %                       100.00%
ARM %                         0.00%

IO LOANS



                                                                                                      % Second Lien
                                                                                                      (Simultaneous
FICO                % of total deal   Avg LTV   Max LTV   % Full Doc   % Owner Occ    WAC    MARGIN     or Silent)
----                ---------------   -------   -------   ----------   -----------   -----   ------   -------------

<= 519                        0.03%        90        90          100           100     7.5     6.25               0
540 - 559                     0.03%     51.55     51.55            0             0    9.75     7.75               0
560 - 579                     0.09%      78.9        80        57.75           100   7.412    5.257               0
580 - 599                     0.41%     78.13     88.55        94.72           100   7.217    6.299           20.67
600 - 619                     3.26%     82.06        95        58.51           100   7.844    6.384           43.24
620 - 639                     3.67%     79.67        95        43.23           100    7.86    6.493            59.5
640 - 659                     3.73%     79.91        95        27.37          99.4   7.786    6.365           66.33
660 - 679                     2.80%     80.81        95         24.3         94.42    7.74    6.324           73.07
680 - 699                     2.19%     80.82        95        30.13         96.63   7.739    5.865           71.17
700 - 719                     1.22%     80.69     94.81         31.7         94.96   7.677    5.873           84.33
720 - 739                     0.76%     82.51       100        47.66         97.92   7.603    6.007           81.82
740 - 759                     0.48%     81.29        95        16.77         85.36   7.532    6.113            91.4
760 - 779                     0.56%     80.64     86.09        18.43           100    7.68    6.397           89.43
780 - 799                     0.17%     80.75     84.99            0           100   7.917    6.711           84.89
800 >=                        0.07%        80        80            0           100   7.135    6.333             100
                             -----       ----       ---        -----         -----   -----    -----           -----
TOTAL:                       19.46%      80.6       100        37.24         97.79   7.762     6.28           64.56
                             =====       ====       ===        =====         =====   =====    =====           =====


IF THE DEAL HAS DEEP MI - WE WANT THE FOLLOWING:
For Non-MI Loans-only



                               %
                           less than
By LTV Bucket   Avg FICO    550 FICO   %full doc   %non owner
-------------   --------   ---------   ---------   ----------

<=50% LTV
51%-60%
61%-70%
71%-80%
81%-85%
86%-90%
91%-95%
96%-100%




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                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                               FICO LESS THAN 550
                                   593 RECORDS
                              BALANCE: 100,333,452

TABLE OF CONTENTS

1. Summary Statistics
2. Originator
3. Product with IO term
4. Range of Gross Interest Rates (%)
5. Range of Cut-off Date Principal Balances ($)
6. Stated Original Term (months)
7. Range of Stated Remaining Terms (months)
8. Range of Combined Original LTV Ratios (%)
9. Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 593
Aggregate Principal Balance ($): 100,333,452
Weighted Average Current Mortgage Rate (%): 9.408
Non-Zero Weighted Average Margin (%): 6.689
Non-Zero Weighted Average Maximum Rate (%): 16.082
Weighted Average Stated Original Term (months): 359
Weighted Average Stated Remaining Term (months): 356
Weighted Average Combined Original LTV (%): 72.60
% First Liens: 99.93
% Owner Occupied: 98.16
% Purchase: 7.27
% Full Doc: 59.95

Non-Zero Weighted Average Credit Score: 525

2. ORIGINATOR



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
ORIGINATOR                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------                       --------   -----------   ---------   --------   ---------   --------   --------

Accredited                          143      22,387,559      22.31      9.419       356        76.11       521
Chapel                                4         766,103       0.76      8.198       351        64.97       522
Encore                               45       7,537,718       7.51      9.280       356        66.52       527
First Banc                           13       2,524,755       2.52      8.687       347        68.79       522
First Horizon                        23       2,597,874       2.59     10.143       355        76.99       525
First NLC                           197      32,554,602      32.45      9.500       357        73.96       528
Flex Point                            6       1,268,251       1.26      9.366       357        60.55       524
Funding America                       5         534,508       0.53      9.433       355        69.35       521
Lenders Direct                        6       1,410,362       1.41      9.164       354        73.45       524
Lime Financial                        4         825,875       0.82      9.578       357        80.72       540
Mandalay                              1         144,693       0.14      7.875       353        29.59       548
Master Financial                     13       3,362,274       3.35      9.260       355        71.81       519
Maxim                                 1          59,908       0.06      9.375       357        80.00       543
New Century                          82      13,574,427      13.53      9.396       358        70.76       525
Quick Loan                           12       2,702,748       2.69      8.708       357        59.34       527
Rose Mortgage                        38       8,081,795       8.05      9.607       357        73.31       529
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


3. PRODUCT WITH IO TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRODUCT WITH IO TERM               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------             --------   -----------   ---------   --------   ---------   --------   --------

Fixed - 15 Year                       2          86,724       0.09     10.378       178        72.51       540
Fixed - 20 Year                       3         245,555       0.24      9.919       239        77.31       524
Fixed - 30 Year                      79      10,347,222      10.31      9.756       357        73.80       527
Balloon - 15/30                       2         163,090       0.16      8.553       176        77.54       512
Balloon - 30/40                      12       1,690,208       1.68      9.272       358        77.83       525
ARM - 2 Year/6 Month Balloon
   30/40                             94      20,364,572      20.30      9.101       357        71.47       525
ARM - 3 Year/6 Month Balloon
   30/40                             24       4,415,571       4.40      9.283       357        77.82       525
ARM - 2 Year/6 Month                234      40,423,979      40.29      9.420       357        70.72       526
ARM - 3 Year/6 Month                141      22,301,864      22.23      9.556       357        74.80       525
ARM - 5 Year/6 Month                  1          78,667       0.08      9.200       358        75.00       529
Interest Only ARM - 2 Year/6
   Month - 60 mo. IO term             1         216,000       0.22      7.500       359        90.00       519
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF GROSS INTEREST          MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

6.000 - 6.999                         4         849,835       0.85      6.649       356        63.57       529
7.000 - 7.999                        44       9,379,898       9.35      7.795       355        67.29       531
8.000 - 8.999                       151      27,058,660      26.97      8.699       357        70.67       526
9.000 - 9.999                       240      41,857,601      41.72      9.621       356        74.35       525
10.000 - 10.999                     117      15,933,990      15.88     10.489       357        75.16       522
11.000 - 11.999                      33       5,056,174       5.04     11.373       354        71.50       527
12.000 - 12.999                       4         197,294       0.20     12.290       358        80.07       530
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Minimum: 6.190
Maximum: 12.530
Weighted Average: 9.408

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF CUT-OFF DATE            MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRINCIPAL BALANCES ($)             LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------------------           --------   -----------   ---------   --------   ---------   --------   --------

25,001 - 50,000                      15         631,826       0.63     10.175       320        65.46       522
50,001 - 75,000                      56       3,580,887       3.57     10.197       353        73.91       523
75,001 - 100,000                     68       5,899,246       5.88      9.637       357        76.03       525
100,001 - 125,000                    84       9,604,134       9.57      9.429       354        72.03       523
125,001 - 150,000                    82      11,262,765      11.23      9.510       357        70.63       527
150,001 - 175,000                    63      10,255,463      10.22      9.471       357        72.34       526
175,001 - 200,000                    62      11,771,599      11.73      9.282       357        72.48       524
200,001 - 225,000                    32       6,863,415       6.84      9.348       357        69.92       530
225,001 - 250,000                    32       7,585,833       7.56      9.291       357        71.81       525
250,001 - 275,000                    24       6,295,616       6.27      9.448       357        74.31       525
275,001 - 300,000                    21       6,061,069       6.04      9.318       357        72.67       526
300,001 - 325,000                    14       4,372,024       4.36      8.808       356        66.25       528
325,001 - 350,000                    12       4,058,717       4.05      9.225       358        76.84       523
350,001 - 375,000                     5       1,821,462       1.82      9.579       357        76.72       530
375,001 - 400,000                     9       3,489,413       3.48      8.895       356        76.68       529
400,001 - 425,000                     5       2,071,037       2.06      9.410       357        76.80       533
425,001 - 450,000                     2         895,612       0.89      9.160       358        74.60       516
450,001 - 475,000                     1         467,227       0.47      8.999       357        61.58       508
475,001 - 500,000                     1         498,403       0.50      8.750       357        75.00       507
500,001 - 750,000                     5       2,847,706       2.84     10.107       357        75.15       525
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Minimum: 26,276
Maximum: 632,298
Average: 169,196

6. STATED ORIGINAL TERM (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
STATED ORIGINAL TERM (MONTHS)      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------------    --------   -----------   ---------   --------   ---------   --------   --------

180                                   4         249,814       0.25      9.186       177        75.79       522
240                                   3         245,555       0.24      9.919       239        77.31       524
360                                 586      99,838,083      99.51      9.407       357        72.58       525
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


Minimum: 180
Maximum: 360
Weighted Average: 359

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF STATED REMAINING        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
TERMS (MONTHS)                     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

169 - 180                             4         249,814       0.25      9.186       177        75.79       522
229 - 240                             3         245,555       0.24      9.919       239        77.31       524
349 - 360                           586      99,838,083      99.51      9.407       357        72.58       525
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


Minimum: 176
Maximum: 359
Weighted Average: 356

8. RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF COMBINED ORIGINAL LTV   MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATIOS (%)                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

15.01 - 20.00                         3         270,557       0.27      8.967       356        18.09       525
20.01 - 25.00                         2         460,110       0.46      7.595       357        24.66       524
25.01 - 30.00                         1         144,693       0.14      7.875       353        29.59       548
30.01 - 35.00                         2         238,569       0.24      9.900       359        34.36       522
35.01 - 40.00                         5         631,728       0.63      9.071       358        38.07       523
40.01 - 45.00                        13       1,901,601       1.90      9.174       356        42.79       523
45.01 - 50.00                        10       1,602,081       1.60      9.047       357        47.87       528
50.01 - 55.00                        23       3,558,358       3.55      9.167       357        52.89       522
55.01 - 60.00                        21       3,028,423       3.02      8.796       355        58.46       526
60.01 - 65.00                        52       9,375,836       9.34      9.418       356        63.20       524
65.01 - 70.00                        86      16,138,309      16.08      9.486       355        69.02       527
70.01 - 75.00                       110      21,408,563      21.34      9.217       357        74.23       524
75.01 - 80.00                       154      24,581,386      24.50      9.568       357        79.75       525
80.01 - 85.00                        99      15,159,476      15.11      9.646       355        84.69       527
85.01 - 90.00                         8       1,347,222       1.34      9.141       358        89.86       535
90.01 - 95.00                         1         163,366       0.16     11.400       358        95.00       535
95.01 - 100.00                        3         323,175       0.32     10.131       334        99.69       538
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Minimum: 16.97
Maximum: 100.00
Weighted Average: 72.60

9. RANGE OF GROSS MARGINS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RANGE OF GROSS MARGINS (%)         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     98      12,532,799      12.49      9.683       351        74.45       526
<= 3.500                              1         224,800       0.22      9.990       358        75.00       546
4.001 - 4.500                         5         968,069       0.96      7.971       358        63.24       526
4.501 - 5.000                        11       2,003,261       2.00      8.754       356        73.80       525
5.001 - 5.500                        33       5,747,462       5.73      9.043       357        72.12       528
5.501 - 6.000                        79      14,812,575      14.76      9.260       357        70.82       521
6.001 - 6.500                        89      14,107,632      14.06      9.286       357        75.20       526
6.501 - 7.000                       102      19,948,156      19.88      9.373       357        70.86       524
7.001 - 7.500                       141      23,094,750      23.02      9.588       357        72.51       527
7.501 - 8.000                        16       3,623,364       3.61      9.797       357        76.39       525
8.001 - 8.500                        15       3,001,183       2.99      9.308       356        71.46       525
8.501 - 9.000                         1          76,455       0.08     11.875       358        75.00       546
9.001 - 9.500                         2         192,947       0.19     11.366       356        83.34       537
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 3.420
Maximum: 9.490
Non-Zero Weighted Average: 6.689

10. RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MINIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     98      12,532,799      12.49      9.683       351        74.45       526
5.501 - 6.000                         1         399,345       0.40      9.050       353        80.00       540
6.001 - 6.500                         4         539,597       0.54      8.141       352        71.79       535
6.501 - 7.000                         3         660,024       0.66      6.781       358        61.83       524
7.001 - 7.500                         9       1,422,837       1.42      7.807       357        70.71       535
7.501 - 8.000                        35       7,976,984       7.95      7.880       357        67.24       531
8.001 - 8.500                        26       5,066,587       5.05      8.366       357        71.57       530
8.501 - 9.000                        94      17,939,181      17.88      8.820       357        69.83       525
9.001 - 9.500                        81      14,582,500      14.53      9.364       357        72.10       527
9.501 - 10.000                      123      23,220,732      23.14      9.810       357        75.23       523
10.001 -10.500                       51       6,971,939       6.95     10.305       357        75.52       522
10.501 - 11.000                      42       5,717,410       5.70     10.785       357        75.63       520
11.001 - 11.500                      16       2,213,532       2.21     11.204       357        70.58       528
11.501 - 12.000                       7         928,683       0.93     11.758       358        66.20       519
12.001 - 12.500                       2         111,192       0.11     12.104       358        77.88       528
12.501 - 13.000                       1          50,111       0.05     12.530       357        85.00       542
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 6.000
Maximum: 12.530
Non-Zero Weighted Average: 9.338

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MAXIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     98      12,532,799      12.49      9.683       351        74.45       526
<= 12.500                             3         579,949       0.58      6.649       355        60.52       529
12.501 - 13.000                       5         834,096       0.83      7.822       356        70.18       528
13.001 - 13.500                       5         797,645       0.79      7.669       357        69.89       527
13.501 - 14.000                      18       4,129,377       4.12      8.178       357        62.01       529
14.001 - 14.500                      15       2,631,546       2.62      8.458       356        67.17       532
14.501 - 15.000                      41       8,111,591       8.08      8.344       357        70.49       531
15.001 - 15.500                      35       7,164,238       7.14      8.880       357        71.63       532
15.501 - 16.000                      86      16,563,439      16.51      8.986       357        70.81       525
16.001 - 16.500                      63      11,047,876      11.01      9.395       357        73.78       525
16.501 - 17.000                     117      21,813,097      21.74      9.854       357        75.01       522
17.001 - 17.500                      49       6,974,947       6.95     10.366       357        75.10       523
17.501 - 18.000                      40       5,218,370       5.20     10.928       357        75.66       521
18.001 - 18.500                      14       1,681,354       1.68     11.213       357        72.47       525
18.501 - 19.000                       2         141,934       0.14     11.760       358        77.25       534
19.001 - 19.500                       2         111,192       0.11     12.104       358        77.88       528
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 11.650
Maximum: 19.125
Non-Zero Weighted Average: 16.082

12. INITIAL PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INITIAL PERIODIC CAP (%)           LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------         --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     98      12,532,799      12.49      9.683       351        74.45       526
1.500                               119      20,420,029      20.35      9.464       357        75.78       521
2.000                               109      18,694,987      18.63      9.209       357        68.86       525
3.000                               267      48,685,637      48.52      9.391       357        72.23       527
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.438

13. SUBSEQUENT PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
SUBSEQUENT PERIODIC CAP (%)        LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------------------------      --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     98      12,532,799      12.49      9.683        351       74.45       526
1.000                               141      26,265,853      26.18      9.170        356       69.86       527
1.500                               350      60,778,005      60.58      9.450        357       73.55       525
2.000                                 4         756,795       0.75      9.732        353       61.22       507
                                    ---     -----------     ------      -----        ---       -----       ---
TOTAL:                              593     100,333,452     100.00      9.408        356       72.60       525
                                    ===     ===========     ======      =====        ===       =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.355

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MONTHS TO NEXT RATE ADJUSTMENT     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     98      12,532,799      12.49      9.683       351        74.45       526
14                                    3         529,589       0.53      9.060       350        74.73       518
15                                    4         664,461       0.66      8.685       351        76.57       522
16                                    5         801,132       0.80      9.677       352        63.52       513
17                                    9       1,465,498       1.46      9.303       353        67.61       530
18                                    8       2,030,808       2.02      9.502       354        71.28       516
19                                   15       2,818,197       2.81      9.157       355        68.24       525
20                                   49       8,453,504       8.43      9.148       356        68.75       526
21                                   85      17,069,556      17.01      9.441       357        71.98       526
22                                  115      21,574,135      21.50      9.260       358        71.07       526
23                                   36       5,597,671       5.58      9.369       359        73.82       525
30                                    2         297,692       0.30      8.974       354        73.64       524
31                                   10       1,828,899       1.82      8.966       355        74.63       531
32                                   16       2,407,100       2.40      9.253       356        72.03       526
33                                   62      10,265,768      10.23      9.580       357        74.56       524
34                                   71      11,293,107      11.26      9.591       358        76.48       524
35                                    4         624,869       0.62      9.792       359        81.28       529
58                                    1          78,667       0.08      9.200       358        75.00       529
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 25

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
GEOGRAPHIC DISTRIBUTION OF       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGED PROPERTIES               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

California                           73      18,787,550      18.73      8.909       357         67.16      523
Florida                              98      16,296,115      16.24      9.228       357         70.94      525
Arizona                              34       6,864,465       6.84      9.620       357         73.47      527
Illinois                             32       5,746,967       5.73      9.330       353         75.80      525
New Jersey                           22       5,014,299       5.00     10.090       357         73.43      521
Texas                                44       4,412,670       4.40      9.668       354         78.07      524
Maryland                             18       4,115,131       4.10      9.304       357         71.60      520
Washington                           18       3,631,928       3.62      9.068       358         75.41      525
Connecticut                          17       3,316,093       3.31      9.388       357         70.71      533
Rhode Island                         15       3,177,270       3.17      9.502       357         73.85      532
Virginia                             20       2,980,060       2.97      9.651       357         70.27      527
Michigan                             25       2,917,502       2.91      9.828       356         77.89      531
New York                             11       2,641,611       2.63      9.009       357         73.00      533
Pennsylvania                         23       2,616,910       2.61      9.911       357         76.81      524
Massachusetts                        12       2,265,755       2.26      9.357       357         69.29      529
Other                               131      15,549,127      15.50      9.799       355         76.47      526
                                    ---     -----------     ------     ------       ---         -----      ---
TOTAL:                              593     100,333,452     100.00      9.408       356         72.60      525
                                    ===     ===========     ======     ======       ===         =====      ===


Number of States/District of Columbia Represented: 40

16. OCCUPANCY



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
OCCUPANCY                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------                        --------   -----------   ---------   --------   ---------   --------   --------

Primary                             577      98,486,345      98.16      9.390       356        72.67       525
Investment                           15       1,607,147       1.60     10.438       357        68.17       530
Second Home                           1         239,960       0.24      9.800       359        75.00       504
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


17. PROPERTY TYPE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PROPERTY TYPE                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

Single Family Residence             503      82,097,093      81.82      9.383       356        72.85       525
Planned Unit Development             34       7,603,134       7.58      9.436       357        74.09       525
2-4 Family                           30       6,401,941       6.38      9.527       357        69.44       528
Condo                                26       4,231,284       4.22      9.665       357        69.87       527
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


18. LOAN PURPOSE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LOAN PURPOSE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

Refinance - Cashout                 494      87,244,781      86.95      9.342       357        71.77       525
Purchase                             64       7,293,235       7.27     10.099       355        80.28       527
Refinance - Rate Term                35       5,795,436       5.78      9.526       352        75.52       531
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


19. DOCUMENTATION LEVEL



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
DOCUMENTATION LEVEL                LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------              --------   -----------   ---------   --------   ---------   --------   --------

Full Documentation                  400      60,151,094      59.95      9.341       356        73.67       523
Stated Documentation                174      36,551,127      36.43      9.539       357        70.66       529
Limited Documentation                19       3,631,231       3.62      9.196       357        74.49       520
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


20. CREDIT SCORE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
CREDIT SCORE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

500 - 524                           279      46,441,483      46.29      9.545       356        71.85       512
525 - 549                           314      53,891,969      53.71      9.290       357        73.26       537
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 500
Maximum: 549
Non-Zero Weighted Average: 525

21. PREPAYMENT PENALTY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PREPAYMENT PENALTY TERM            LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

0                                   174      28,540,782      28.45      9.612       356        72.92       524
6                                     4         809,254       0.81     10.008       357        77.85       529
12                                   21       4,410,650       4.40      9.224       357        74.22       527
24                                  204      38,191,121      38.06      9.201       357        70.40       526
30                                    1         282,470       0.28      9.790       356        64.32       534
36                                  161      24,817,622      24.74      9.502       356        74.62       526
48                                    1         145,964       0.15      8.500       359        36.50       529
60                                   27       3,135,589       3.13      9.441       351        79.47       519
                                    ---     -----------     ------     ------       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 29

22. LIEN POSITION



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LIEN POSITION                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

1st Lien                            591     100,261,929      99.93      9.407       356        72.58       525
2nd Lien                              2          71,523       0.07     11.118       254       100.00       500
                                    ---     -----------     ------     ------       ---       ------       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======     ======       ===       ======       ===


23. INTEREST ONLY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INTEREST ONLY TERM                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

0                                   592     100,117,452      99.78      9.412       356        72.57       525
60                                    1         216,000       0.22      7.500       359        90.00       519
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              593     100,333,452     100.00      9.408       356        72.60       525
                                    ===     ===========     ======      =====       ===        =====       ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                   40YR LOANS
                                  1,070 RECORDS
                              BALANCE: 273,546,325

TABLE OF CONTENTS

1. Summary Statistics
2. Originator
3. Product with IO term
4. Range of Gross Interest Rates (%)
5. Range of Cut-off Date Principal Balances ($)
6. Stated Original Term (months)
7. Range of Stated Remaining Terms (months)
8. Range of Combined Original LTV Ratios (%)
9. Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 1,070
Aggregate Principal Balance ($): 273,546,325
Weighted Average Current Mortgage Rate (%): 8.245
Non-Zero Weighted Average Margin (%): 6.268
Non-Zero Weighted Average Maximum Rate (%): 15.005
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.02
% First Liens: 100.00
% Owner Occupied: 94.42
% Purchase: 41.00
% Full Doc: 39.62
Non-Zero Weighted Average Credit Score: 625

2. ORIGINATOR



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
ORIGINATOR                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------                       --------   -----------   ---------   --------   ---------   --------   --------

Accredited                           188     42,593,702      15.57      8.494       357        77.96       620
Chapel                                 3        496,653       0.18      7.773       352        78.48       642
Encore                                92     28,141,647      10.29      8.227       356        81.62       627
First Banc                             7      1,463,971       0.54      8.404       356        79.92       580
First Horizon                         11      1,817,204       0.66      9.118       358        83.93       620
First NLC                            391     94,462,809      34.53      8.063       357        80.49       631
Flex Point                             6      1,897,464       0.69      8.957       357        75.56       589
Funding America                        2        484,962       0.18      8.724       355        82.49       595
Lenders Direct                         7      2,100,622       0.77      8.010       354        77.03       602
Lime Financial                        11      2,640,505       0.97      8.267       356        83.80       624
Mandalay                               7      1,661,368       0.61      7.111       353        77.24       642
Master Financial                      54     18,484,991       6.76      8.130       355        81.18       624
Maxim                                  3        830,664       0.30      8.592       357        81.15       583
New Century                          259     68,007,429      24.86      8.390       358        79.61       623
Rose Mortgage                         29      8,462,336       3.09      8.036       358        80.60       601
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


3. PRODUCT WITH IO TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRODUCT WITH IO TERM               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------             --------   -----------   ---------   --------   ---------   --------   --------

Balloon - 30/40                       67     14,725,319       5.38      7.933       357        78.80       627
ARM - 2 Year/6 Month Balloon
   30/40                             789    213,147,286      77.92      8.242       357        80.12       626
ARM - 3 Year/6 Month Balloon
   30/40                             211     44,732,369      16.35      8.383       357        80.00       616
Dual Amort - 10/40 - 2 Year/6
   Month                               3        941,351       0.34      7.192       352        75.59       631
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF GROSS INTEREST          MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

5.000 - 5.999                          1        270,882       0.10       5.990      350        90.00       614
6.000 - 6.999                         86     24,826,231       9.08       6.690      357        76.50       661
7.000 - 7.999                        389    108,663,464      39.72       7.662      357        79.51       638
8.000 - 8.999                        361     89,052,348      32.55       8.534      357        80.22       616
9.000 - 9.999                        168     39,432,877      14.42       9.527      357        82.66       599
10.000 - 10.999                       56      9,803,252       3.58      10.462      358        82.26       570
11.000 - 11.999                        9      1,497,271       0.55      11.297      358        77.24       557
                                   -----    -----------     ------       -----      ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00       8.245      357        80.02       625
                                   =====    ===========     ======       =====      ===        =====       ===


Minimum: 5.990
Maximum: 11.900
Weighted Average: 8.245

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF CUT-OFF DATE            MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRINCIPAL BALANCES ($)             LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------------------           --------   -----------   ---------   --------   ---------   --------   --------

25,001 - 50,000                        1         37,966       0.01      8.850       356        46.91       541
50,001 - 75,000                       22      1,412,268       0.52      9.083       357        83.18       623
75,001 - 100,000                      42      3,627,651       1.33      9.068       357        77.45       593
100,001 - 125,000                     84      9,635,101       3.52      8.644       357        79.06       606
125,001 - 150,000                    111     15,421,938       5.64      8.735       357        77.56       602
150,001 - 175,000                     99     16,051,196       5.87      8.526       357        77.36       614
175,001 - 200,000                    114     21,495,178       7.86      8.410       357        79.56       611
200,001 - 225,000                     91     19,349,867       7.07      8.230       357        80.58       627
225,001 - 250,000                     69     16,383,373       5.99      8.291       357        78.73       612
250,001 - 275,000                     58     15,246,578       5.57      8.017       357        79.74       610
275,001 - 300,000                     68     19,575,325       7.16      8.125       357        79.94       632
300,001 - 325,000                     52     16,245,366       5.94      7.944       357        81.06       627
325,001 - 350,000                     37     12,478,791       4.56      8.184       357        81.52       627
350,001 - 375,000                     29     10,433,520       3.81      8.061       357        79.01       636
375,001 - 400,000                     32     12,483,926       4.56      8.090       357        80.44       641
400,001 - 425,000                     28     11,575,135       4.23      8.095       357        81.85       628
425,001 - 450,000                     27     11,848,095       4.33      7.808       357        79.06       624
450,001 - 475,000                     18      8,298,697       3.03      8.189       357        81.96       657
475,001 - 500,000                     24     11,803,881       4.32      8.294       357        81.69       631
500,001 - 750,000                     59     35,761,923      13.07      8.194       357        80.96       636
750,001 - 1,000,000                    5      4,380,551       1.60      8.221       358        82.65       659
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 37,966
Maximum: 988,617
Average: 255,651

6. STATED ORIGINAL TERM (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
STATED ORIGINAL TERM (MONTHS)      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------------    --------   -----------   ---------   --------   ---------   --------   --------

360                                1,070    273,546,325     100.00      8.245       357        80.02       625
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 360
Maximum: 360
Weighted Average: 360

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF STATED REMAINING        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
TERMS (MONTHS)                     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

349 - 360                          1,070    273,546,325     100.00      8.245       357        80.02       625
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 350
Maximum: 360
Weighted Average: 357

8. RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF COMBINED ORIGINAL       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LTV RATIOS (%)                     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

20.01 - 25.00                          1        135,770       0.05      6.650       356        23.86       549
25.01 - 30.00                          1        144,693       0.05      7.875       353        29.59       548
30.01 - 35.00                          1        257,053       0.09      6.990       358        31.37       618
35.01 - 40.00                          4        567,660       0.21      8.870       357        38.55       576
40.01 - 45.00                         12      2,116,820       0.77      7.489       357        42.21       602
45.01 - 50.00                         13      2,180,097       0.80      8.115       357        47.14       585
50.01 - 55.00                         12      2,557,383       0.93      8.241       357        53.04       571
55.01 - 60.00                         21      4,397,713       1.61      7.931       357        57.97       600
60.01 - 65.00                         26      6,432,710       2.35      8.343       357        63.60       571
65.01 - 70.00                         42      9,613,940       3.51      8.607       357        68.76       570
70.01 - 75.00                         73     19,181,680       7.01      8.274       357        74.06       573
75.01 - 80.00                        547    147,885,972      54.06      8.070       357        79.84       644
80.01 - 85.00                        113     26,357,808       9.64      8.551       357        84.47       596
85.01 - 90.00                        129     33,148,288      12.12      8.418       357        89.59       622
90.01 - 95.00                         60     15,299,232       5.59      8.834       357        94.56       637
95.01 - 100.00                        15      3,269,509       1.20      8.866       357        99.91       634
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 23.86
Maximum: 100.00
Weighted Average: 80.02

9. RANGE OF GROSS MARGINS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RANGE OF GROSS MARGINS (%)         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      67     14,725,319       5.38      7.933       357        78.80       627
<= 3.500                               4        897,622       0.33      7.353       355        82.95       652
3.501 - 4.000                          3        878,124       0.32      7.244       357        77.02       667
4.001 - 4.500                         15      3,904,588       1.43      7.589       357        73.82       627
4.501 - 5.000                         50     14,501,275       5.30      8.082       357        79.94       647
5.001 - 5.500                        117     35,435,272      12.95      8.142       356        82.91       635
5.501 - 6.000                        186     47,815,151      17.48      8.466       357        79.95       618
6.001 - 6.500                        253     66,585,901      24.34      8.073       358        80.54       632
6.501 - 7.000                        138     35,015,393      12.80      8.145       357        77.72       617
7.001 - 7.500                        196     42,650,933      15.59      8.524       357        79.79       613
7.501 - 8.000                         31      8,181,398       2.99      8.858       357        79.63       610
8.001 - 8.500                          7      2,055,217       0.75      8.907       356        76.65       563
8.501 - 9.000                          2        694,733       0.25      9.364       358        93.35       672
9.001 - 9.500                          1        205,400       0.08      9.350       357        80.00       650
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 2.250
Maximum: 9.100
Non-Zero Weighted Average: 6.268

10. RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MINIMUM                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGE RATES (%)                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      67     14,725,319       5.38      7.933       357        78.80       627
5.501 - 6.000                          5      1,763,168       0.64      6.984       354        85.16       660
6.001 - 6.500                         18      5,223,275       1.91      6.408       357        78.21       640
6.501 - 7.000                         57     15,094,261       5.52      6.823       357        77.63       659
7.001 - 7.500                        106     30,876,664      11.29      7.317       357        79.14       649
7.501 - 8.000                        267     73,921,072      27.02      7.819       357        79.54       634
8.001 - 8.500                        146     39,149,937      14.31      8.274       357        80.68       624
8.501 - 9.000                        188     45,505,231      16.64      8.778       357        79.68       612
9.001 - 9.500                         72     18,343,192       6.71      9.290       357        82.22       621
9.501 - 10.000                        83     18,371,736       6.72      9.814       357        82.78       578
10.001 -10.500                        27      5,662,586       2.07     10.288       357        82.29       582
10.501 - 11.000                       27      3,646,270       1.33     10.787       358        82.67       558
11.001 - 11.500                        6      1,081,645       0.40     11.200       358        69.57       552
11.501 - 12.000                        1        181,968       0.07     11.900       358       100.00       576
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 5.750
Maximum: 11.900
Non-Zero Weighted Average: 8.254

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MAXIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      67     14,725,319       5.38      7.933       357        78.80       627
<= 12.500                             23      7,124,751       2.60      6.882       355        79.15       649
12.501 - 13.000                       25      7,062,788       2.58      7.741       356        84.39       629
13.001 - 13.500                       34     10,226,965       3.74      7.398       357        79.70       623
13.501 - 14.000                       77     21,281,533       7.78      7.401       357        78.54       643
14.001 - 14.500                      101     29,371,607      10.74      7.481       357        79.12       650
14.501 - 15.000                      241     66,586,164      24.34      7.877       357        79.26       635
15.001 - 15.500                      133     35,644,294      13.03      8.403       357        81.12       623
15.501 - 16.000                      176     41,247,377      15.08      8.831       357        79.68       608
16.001 - 16.500                       65     16,041,135       5.86      9.313       357        81.81       621
16.501 - 17.000                       74     15,788,958       5.77      9.812       357        82.61       578
17.001 - 17.500                       23      4,061,269       1.48     10.217       358        80.80       570
17.501 - 18.000                       25      3,278,429       1.20     10.794       358        82.41       556
18.001 - 18.500                        5        923,769       0.34     11.217       358        74.61       552
18.501 - 19.000                        1        181,968       0.07     11.900       358       100.00       576
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 11.000
Maximum: 18.900
Non-Zero Weighted Average: 15.005

12. INITIAL PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INITIAL PERIODIC CAP (%)           LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------         --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      67     14,725,319       5.38      7.933       357        78.80       627
1.500                                218     51,237,641      18.73      8.565       357        78.74       621
2.000                                302     83,107,654      30.38      8.328       357        80.23       622
3.000                                483    124,475,712      45.50      8.095       357        80.54       628
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.382

13. SUBSEQUENT PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
SUBSEQUENT PERIODIC CAP (%)        LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------------------------      --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      67     14,725,319       5.38      7.933       357        78.80       627
1.000                                207     61,886,966      22.62      8.218       356        81.16       620
1.500                                794    196,447,744      71.82      8.279       357        79.77       626
2.000                                  2        486,296       0.18      7.696       354        71.46       696
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.381

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MONTHS TO NEXT RATE ADJUSTMENT     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      67     14,725,319       5.38      7.933       357        78.80       627
14                                     2        381,729       0.14      6.501       350        87.10       621
15                                     8      1,624,558       0.59      7.541       351        79.85       669
16                                     6      1,465,370       0.54      7.871       352        74.53       607
17                                    17      5,207,161       1.90      8.037       353        80.22       653
18                                    12      3,074,833       1.12      8.343       354        79.09       616
19                                    52     14,764,133       5.40      8.235       355        79.90       624
20                                   116     34,001,954      12.43      8.251       356        80.19       627
21                                   195     54,090,051      19.77      8.287       357        80.95       625
22                                   293     79,288,734      28.99      8.200       358        79.21       626
23                                    89     19,648,116       7.18      8.382       359        81.96       623
24                                     2        542,000       0.20      8.514       360        75.23       609
28                                     2        358,456       0.13      8.226       352        82.66       614
30                                     1        190,969       0.07      8.600       354        85.00       582
31                                     5      1,051,719       0.38      7.894       355        78.83       553
32                                    12      3,419,629       1.25      7.976       356        81.73       638
33                                    78     16,512,135       6.04      8.355       357        81.29       616
34                                   107     21,560,802       7.88      8.465       358        79.37       617
35                                     6      1,638,658       0.60      8.767       359        71.38       586
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 14
Maximum: 35
Non-Zero Weighted Average: 23

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
GEOGRAPHIC DISTRIBUTION OF       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGED PROPERTIES               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

California                           329    114,863,204      41.99      8.024       357        79.33       635
Florida                              140     29,753,861      10.88      8.421       357        78.67       614
Illinois                              98     19,959,413       7.30      8.672       357        82.56       625
New York                              37     13,793,000       5.04      7.859       357        77.56       639
Arizona                               62     12,314,703       4.50      8.534       357        79.30       609
Washington                            44      8,934,792       3.27      8.015       357        82.02       616
Maryland                              34      8,327,604       3.04      8.100       357        78.62       606
Nevada                                29      7,450,309       2.72      8.329       357        80.28       613
Massachusetts                         29      6,729,629       2.46      8.238       358        83.56       616
New Jersey                            18      6,028,757       2.20      8.663       357        79.93       613
Oregon                                24      4,846,265       1.77      8.178       357        81.82       598
Hawaii                                10      4,611,985       1.69      8.209       357        77.23       641
Connecticut                           19      4,537,138       1.66      8.422       358        81.68       631
Virginia                              18      3,909,718       1.43      8.618       357        79.92       613
Colorado                              21      3,665,165       1.34      8.367       358        81.52       624
Other                                158     23,820,782       8.71      8.722       357        83.00       610
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Number of States/District of Columbia Represented: 41

16. OCCUPANCY



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
OCCUPANCY                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------                        --------   -----------   ---------   --------   ---------   --------   --------

Primary                            1,003    258,291,337      94.42      8.191       357        79.95       624
Investment                            55     11,272,865       4.12      9.257       357        80.17       639
Second Home                           12      3,982,123       1.46      8.873       357        84.25       634
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


17. PROPERTY TYPE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PROPERTY TYPE                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

Single Family Residence              857    211,481,748      77.31      8.221       357        80.20       622
2-4 Family                            68     22,409,642       8.19      8.249       357        77.66       638
Condo                                 82     20,038,857       7.33      8.448       357        81.98       642
Planned Unit Development              63     19,616,078       7.17      8.293       357        78.75       618
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


18. LOAN PURPOSE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LOAN PURPOSE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

Refinance - Cashout                  597    151,151,067      55.26      8.330       357        79.00       602
Purchase                             421    112,142,862      41.00      8.141       357        81.12       656
Refinance - Rate Term                 52     10,252,396       3.75      8.140       357        82.98       618
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


19. DOCUMENTATION LEVEL



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
DOCUMENTATION LEVEL                LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------              --------   -----------   ---------   --------   ---------   --------   --------

Stated Documentation                 570    155,644,816      56.90      8.393       357        79.54       638
Full Documentation                   465    108,379,052      39.62      8.043       357        80.72       607
Limited Documentation                 35      9,522,457       3.48      8.136       357        79.82       607
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


20. CREDIT SCORE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
CREDIT SCORE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

500 - 524                             63     12,371,257       4.52      9.479       357        73.82       511
525 - 549                             67     14,099,093       5.15      8.846       357        72.17       537
550 - 574                            103     24,944,051       9.12      8.706       357        78.00       562
575 - 599                            148     35,099,518      12.83      8.497       357        80.53       588
600 - 624                            188     46,501,849      17.00      8.171       357        80.84       612
625 - 649                            215     56,029,022      20.48      8.075       357        81.04       636
650 - 674                            128     37,033,462      13.54      7.948       357        81.49       660
675 - 699                             64     19,645,693       7.18      7.776       357        80.41       687
700 - 724                             51     15,278,895       5.59      7.926       357        83.49       710
725 - 749                             24      7,254,687       2.65      7.931       357        80.97       736
750 - 774                             13      3,652,116       1.34      7.628       358        80.54       760
775 - 799                              5      1,517,922       0.55      7.324       357        79.15       787
800 +                                  1        118,759       0.04      7.375       359        90.00       814
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 625

21. PREPAYMENT PENALTY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PREPAYMENT PENALTY TERM            LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

0                                    252     63,281,160      23.13      8.655       357        81.53       625
6                                      5      1,420,720       0.52      8.576       356        79.92       625
12                                    73     23,390,754       8.55      8.192       357        78.97       648
24                                   515    135,804,147      49.65      8.070       357        79.65       623
30                                     1        174,090       0.06      8.800       356        85.00       640
36                                   210     47,367,478      17.32      8.188       357        79.66       618
48                                     1        145,964       0.05      8.500       359        36.50       529
60                                    13      1,962,011       0.72      8.847       358        80.39       566
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

22. LIEN POSITION



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LIEN POSITION                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

1st Lien                           1,070    273,546,325     100.00      8.245       357        80.02       625
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


23. INTEREST ONLY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INTEREST ONLY TERM                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

0                                  1,070    273,546,325     100.00      8.245       357        80.02       625
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,070    273,546,325     100.00      8.245       357        80.02       625
                                   =====    ===========     ======      =====       ===        =====       ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                    IO LOANS
                                   531 RECORDS
                              BALANCE: 162,508,006

TABLE OF CONTENTS

1.  Summary Statistics
2.  Originator
3.  Product with IO term
4.  Range of Gross Interest Rates (%)
5.  Range of Cut-off Date Principal Balances ($)
6.  Stated Original Term (months)
7.  Range of Stated Remaining Terms (months)
8.  Range of Combined Original LTV Ratios (%)
9.  Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 531
Aggregate Principal Balance ($): 162,508,006
Weighted Average Current Mortgage Rate (%): 7.762
Non-Zero Weighted Average Margin (%): 6.280
Non-Zero Weighted Average Maximum Rate (%): 14.508
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.60
% First Liens: 100.00
% Owner Occupied: 97.79
% Purchase: 58.50
% Full Doc: 37.24
Non-Zero Weighted Average Credit Score: 659

2. ORIGINATOR



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
ORIGINATOR                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------                       --------   -----------   ---------   --------   ---------   --------   --------

Accredited                           49      13,082,792       8.05      7.589       358        79.01       671
Chapel                                6       1,885,075       1.16      7.535       351        80.00       652
Encore                               37      13,880,070       8.54      7.604       355        78.81       665
First Banc                           19       5,514,935       3.39      7.688       354        80.26       633
First Horizon                        16       5,181,741       3.19      8.844       357        84.22       664
First NLC                           212      61,420,801      37.80      7.898       357        80.40       664
Flex Point                            3         737,764       0.45      8.152       355        72.49       607
Funding America                       4       1,241,600       0.76      7.255       355        80.00       664
Lenders Direct                        5       1,831,996       1.13      7.821       353        80.12       648
Lime Financial                       12       4,453,000       2.74      7.554       355        80.00       657
Mandalay                              7       1,907,952       1.17      7.687       354        80.02       673
Master Financial                     32      11,908,630       7.33      7.740       355        83.40       663
New Century                         107      31,578,149      19.43      7.566       358        81.46       651
Quick Loan                            3         933,500       0.57      7.240       357        77.18       642
Rose Mortgage                        19       6,950,000       4.28      7.702       357        80.03       637
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


3. PRODUCT WITH IO TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRODUCT WITH IO TERM               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------             --------   -----------   ---------   --------   ---------   --------   --------

Interest Only ARM - 2 Year/6
   Month - 24 mo. IO term             2         431,400       0.27      7.225       358        79.45       606
Interest Only ARM - 3 Year/6
   Month - 36 mo. IO term             3         639,500       0.39      7.938       358        77.28       631
Interest Only Fixed - 30 Year
   - 60 mo. IO term                  14       4,480,985       2.76      7.527       357        77.12       657
Interest Only ARM - 2 Year/6
   Month - 60 mo. IO term           421     132,088,152      81.28      7.780       356        80.77       658
Interest Only ARM - 3 Year/6
   Month - 60 mo. IO term            81      22,362,444      13.76      7.772       357        80.65       666
Interest Only ARM - 5 Year/6
   Month - 60 mo. IO term             5       1,418,400       0.87      6.921       358        76.10       686
Interest Only Fixed - 30 Year
   - 120 mo. IO term                  1         331,000       0.20      6.750       357        79.95       638
Interest Only ARM - 2 Year/6
   Month - 120 mo. IO term            1         186,686       0.11      8.000       358        80.00       641
Interest Only ARM - 3 Year/6
   Month - 120 mo. IO term            1          92,000       0.06      7.250       359        80.00       652
Interest Only ARM - 5 Year/6
   Month - 120 mo. IO term            2         477,439       0.29      8.188       357        83.29       646
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF GROSS                   MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INTEREST RATES (%)                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

5.000 - 5.999                         2         572,938       0.35       5.804      358        65.50       673
6.000 - 6.999                        85      25,390,729      15.62       6.734      357        78.05       663
7.000 - 7.999                       265      85,140,149      52.39       7.538      356        80.41       660
8.000 - 8.999                       137      38,660,074      23.79       8.421      357        81.59       657
9.000 - 9.999                        39      11,629,803       7.16       9.326      357        84.42       650
10.000 - 10.999                       3       1,114,313       0.69      10.145      358        86.49       646
                                    ---     -----------     ------      ------      ---        -----       ---
TOTAL:                              531     162,508,006     100.00       7.762      357        80.60       659
                                    ===     ===========     ======      ======      ===        =====       ===


Minimum: 5.700
Maximum: 10.965
Weighted Average: 7.762

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF CUT-OFF DATE            MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRINCIPAL BALANCES ($)             LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------------------           --------   -----------   ---------   --------   ---------   --------   --------

50,001 - 75,000                       1          72,800       0.04      9.590       357        80.00       630
75,001 - 100,000                     10         878,879       0.54      7.859       357        79.31       627
100,001 - 125,000                    16       1,804,208       1.11      8.123       357        74.02       660
125,001 - 150,000                    20       2,755,396       1.70      7.876       356        78.86       658
150,001 - 175,000                    25       4,068,308       2.50      7.825       357        80.95       672
175,001 - 200,000                    57      10,629,953       6.54      7.965       357        79.42       663
200,001 - 225,000                    51      10,935,227       6.73      7.805       357        80.18       650
225,001 - 250,000                    49      11,602,322       7.14      7.736       357        78.71       648
250,001 - 275,000                    40      10,544,077       6.49      7.794       357        80.79       663
275,001 - 300,000                    35      10,052,404       6.19      7.531       357        79.71       645
300,001 - 325,000                    22       6,868,380       4.23      7.480       357        80.27       667
325,001 - 350,000                    26       8,802,686       5.42      7.845       356        82.86       657
350,001 - 375,000                    30      10,848,988       6.68      7.877       357        80.64       663
375,001 - 400,000                    27      10,507,241       6.47      7.696       357        80.68       673
400,001 - 425,000                    21       8,648,929       5.32      7.662       356        80.53       660
425,001 - 450,000                    16       7,033,524       4.33      7.660       356        82.03       640
450,001 - 475,000                    11       5,076,400       3.12      7.613       357        81.96       670
475,001 - 500,000                    24      11,743,210       7.23      7.769       356        79.42       659
500,001 - 750,000                    46      26,225,078      16.14      7.744       356        82.22       659
750,001 - 1,000,000                   4       3,409,996       2.10      8.239       354        80.16       688
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

6. STATED ORIGINAL TERM (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
STATED ORIGINAL TERM (MONTHS)      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------------    --------   -----------   ---------   --------   ---------   --------   --------

360                                 531     162,508,006     100.00      7.762       357        80.60       659
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Minimum: 360
Maximum: 360
Weighted Average: 360

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF STATED                  MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
REMAINING TERMS (MONTHS)           LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------         --------   -----------   ---------   --------   ---------   --------   --------

349 - 360                           531     162,508,006     100.00      7.762       357        80.60       659
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Minimum: 350
Maximum: 359
Weighted Average: 357

8. RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF COMBINED                MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
ORIGINAL LTV RATIOS (%)            LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

20.01 - 25.00                         1         120,000       0.07      7.750       358        22.64       619
35.01 - 40.00                         3         980,000       0.60      7.540       357        39.09       638
40.01 - 45.00                         1         220,000       0.14      6.300       358        41.90       711
50.01 - 55.00                         6       1,302,051       0.80      7.568       356        52.05       617
55.01 - 60.00                         4         690,000       0.42      6.902       357        57.85       623
60.01 - 65.00                         7       1,753,635       1.08      6.908       357        64.13       647
65.01 - 70.00                         8       2,547,235       1.57      7.438       357        69.85       634
70.01 - 75.00                        13       4,722,659       2.91      7.664       356        72.81       641
75.01 - 80.00                       381     113,472,926      69.83      7.679       357        79.84       665
80.01 - 85.00                        39      12,567,069       7.73      7.970       356        84.03       647
85.01 - 90.00                        47      17,656,309      10.86      8.085       356        89.19       639
90.01 - 95.00                        20       6,146,122       3.78      8.543       356        94.80       666
95.01 - 100.00                        1         330,000       0.20      9.300       358       100.00       733
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Minimum: 22.64
Maximum: 100.00
Weighted Average: 80.60

9. RANGE OF GROSS MARGINS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RANGE OF GROSS MARGINS (%)         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655
<= 3.500                              8       1,956,186       1.20      7.151       358        69.47       668
3.501 - 4.000                         8       2,289,223       1.41      6.944       358        80.27       669
4.001 - 4.500                        10       3,096,596       1.91      7.505       358        80.60       676
4.501 - 5.000                        25       7,106,379       4.37      7.814       357        81.29       682
5.001 - 5.500                        57      20,129,793      12.39      7.585       355        80.46       665
5.501 - 6.000                        77      23,334,920      14.36      7.638       356        81.66       663
6.001 - 6.500                       139      43,001,176      26.46      7.533       357        80.79       650
6.501 - 7.000                        55      16,123,002       9.92      7.704       357        80.04       661
7.001 - 7.500                       106      30,298,114      18.64      8.113       357        80.79       662
7.501 - 8.000                        19       5,841,424       3.59      8.675       356        79.42       647
8.001 - 8.500                        10       3,995,829       2.46      9.066       357        82.32       629
8.501 - 9.000                         2         523,379       0.32      9.580       357        92.39       629
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 2.200
Maximum: 9.000
Non-Zero Weighted Average: 6.280

10.  RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MINIMUM                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGE RATES (%)                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     15       4,811,985       2.96       7.474      357        77.31       655
5.501 - 6.000                         4       1,294,035       0.80       7.205      354        72.46       646
6.001 - 6.500                        19       6,204,932       3.82       6.373      357        78.19       674
6.501 - 7.000                        71      21,585,871      13.28       6.887      356        78.64       655
7.001 - 7.500                       114      35,085,333      21.59       7.290      356        80.10       658
7.501 - 8.000                       141      45,497,813      28.00       7.801      357        80.88       663
8.001 - 8.500                        79      22,676,987      13.95       8.273      357        80.87       663
8.501 - 9.000                        49      13,537,434       8.33       8.739      357        83.13       649
9.001 - 9.500                        23       7,512,953       4.62       9.200      357        83.90       659
9.501 - 10.000                       14       3,577,063       2.20       9.727      357        85.09       638
10.001 -10.500                        1         620,100       0.38      10.100      358        90.00       606
10.501 - 11.000                       1         103,500       0.06      10.965      358        90.00       675
                                    ---     -----------     ------      ------      ---        -----       ---
TOTAL:                              531     162,508,006     100.00       7.762      357        80.60       659
                                    ===     ===========     ======      ======      ===        =====       ===


Non-Zero Minimum: 5.700
Maximum: 10.965
Non-Zero Weighted Average: 7.759

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MAXIMUM                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGE RATES (%)                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     15       4,811,985       2.96       7.474      357        77.31       655
<= 12.500                            14       5,475,480       3.37       6.769      356        73.46       655
12.501 - 13.000                      27       9,368,688       5.77       7.344      356        80.57       661
13.001 - 13.500                      34      10,506,022       6.46       7.007      356        80.74       661
13.501 - 14.000                      70      20,030,314      12.33       7.118      356        79.32       654
14.001 - 14.500                     101      31,259,393      19.24       7.404      357        80.37       660
14.501 - 15.000                     120      38,407,919      23.63       7.822      356        80.12       663
15.001 - 15.500                      71      19,711,476      12.13       8.288      357        81.45       666
15.501 - 16.000                      43      12,039,123       7.41       8.764      357        84.02       648
16.001 - 16.500                      21       6,846,269       4.21       9.188      356        83.08       660
16.501 - 17.000                      13       3,327,738       2.05       9.726      357        87.60       644
17.001 - 17.500                       1         620,100       0.38      10.100      358        90.00       606
17.501 - 18.000                       1         103,500       0.06      10.965      358        90.00       675
                                    ---     -----------     ------      ------      ---        -----       ---
TOTAL:                              531     162,508,006     100.00       7.762      357        80.60       659
                                    ===     ===========     ======      ======      ===        =====       ===


Non-Zero Minimum: 11.200
Maximum: 17.965
Non-Zero Weighted Average: 14.508

12. INITIAL PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INITIAL PERIODIC CAP (%)           LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------         --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655
1.000                                 1         240,000       0.15      6.850       357        77.42       636
1.500                                66      18,723,501      11.52      7.472       357        80.10       656
2.000                               139      44,657,885      27.48      7.643       357        80.05       656
3.000                               306      93,318,510      57.42      7.893       356        81.13       662
5.000                                 2         477,439       0.29      8.188       357        83.29       646
6.000                                 2         278,686       0.17      7.752       358        80.00       645
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.547

13. SUBSEQUENT PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
SUBSEQUENT PERIODIC CAP (%)        LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------------------------      --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655
1.000                               155      52,550,308      32.34      7.749       355        80.93       654
1.500                               356     102,862,031      63.30      7.777       357        80.54       661
2.000                                 5       2,283,682       1.41      8.006       352        82.51       706
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MONTHS TO NEXT RATE ADJUSTMENT     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655
14                                    4       1,847,998       1.14      7.148       350        80.00       742
15                                    9       3,143,018       1.93      8.131       351        76.31       645
16                                    7       2,439,172       1.50      7.939       352        84.70       647
17                                   16       5,314,715       3.27      7.853       353        84.30       636
18                                   16       4,944,068       3.04      7.358       354        81.63       625
19                                   28       9,474,053       5.83      7.584       355        79.43       661
20                                   75      25,058,768      15.42      7.742       356        81.05       654
21                                  110      33,830,828      20.82      7.848       357        80.19       659
22                                  147      43,146,619      26.55      7.816       358        80.83       662
23                                   12       3,507,000       2.16      7.812       359        82.08       667
26                                    1         343,599       0.21      7.350       350        79.45       609
27                                    1         620,450       0.38      8.750       351        80.00       629
28                                    1          91,129       0.06      9.250       352        80.00       628
30                                    1         243,000       0.15      8.000       354        90.00       601
31                                    1         384,000       0.24      8.475       355        94.81       703
32                                    8       2,383,726       1.47      7.717       356        81.14       666
33                                   19       5,498,451       3.38      7.609       357        79.39       649
34                                   49      13,015,038       8.01      7.818       358        80.49       674
35                                    4         514,550       0.32      6.936       359        78.08       679
57                                    3         718,000       0.44      8.110       357        84.49       685
58                                    3       1,056,839       0.65      6.576       358        73.06       672
59                                    1         121,000       0.07      7.875       359        81.21       651
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 14
Maximum: 59
Non-Zero Weighted Average: 23

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
GEOGRAPHIC DISTRIBUTION OF       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGED PROPERTIES               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

California                          238      88,869,828      54.69      7.719       356        80.72       661
Florida                              81      19,208,898      11.82      7.944       357        80.12       663
Arizona                              34       7,671,777       4.72      7.985       356        79.87       644
New York                             17       7,143,948       4.40      7.856       358        82.70       665
Maryland                             23       6,929,870       4.26      7.617       357        79.65       655
Nevada                               25       6,428,958       3.96      7.498       357        81.69       661
Illinois                             18       4,271,021       2.63      7.901       358        79.92       669
Hawaii                                6       3,164,746       1.95      7.767       356        81.65       666
Georgia                              10       2,238,317       1.38      8.156       357        82.98       657
Rhode Island                          8       2,176,550       1.34      7.378       358        82.53       631
Virginia                              7       1,835,150       1.13      7.728       358        80.54       654
New Jersey                            6       1,792,809       1.10      7.639       357        70.87       637
Massachusetts                         5       1,612,750       0.99      8.305       357        84.30       630
Washington                            8       1,525,967       0.94      7.254       357        80.72       652
Colorado                              8       1,216,549       0.75      7.980       356        83.21       653
Other                                37       6,420,867       3.95      7.758       357        78.50       653
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Number of States/District of Columbia Represented: 34

16. OCCUPANCY



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
OCCUPANCY                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------                        --------   -----------   ---------   --------   ---------   --------   --------

Primary                             516     158,921,980      97.79      7.746       357        80.57       658
Second Home                           8       1,802,826       1.11      8.564       358        83.92       707
Investment                            7       1,783,200       1.10      8.371       357        79.71       663
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


17. PROPERTY TYPE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PROPERTY TYPE                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

Single Family Residence             411     123,298,597      75.87      7.756       357        80.40       657
Condo                                46      13,573,339       8.35      7.741       356        80.62       663
2-4 Family                           33      13,208,820       8.13      7.972       357        81.45       676
Planned Unit Development             41      12,427,250       7.65      7.628       356        81.67       655
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


18. LOAN PURPOSE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LOAN PURPOSE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

Purchase                            320      95,071,849      58.50      7.802       356        80.56       670
Refinance - Cashout                 193      62,419,618      38.41      7.728       357        80.75       642
Refinance - Rate Term                18       5,016,539       3.09      7.430       357        79.48       653
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


19. DOCUMENTATION LEVEL



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
DOCUMENTATION LEVEL                LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------              --------   -----------   ---------   --------   ---------   --------   --------

Stated Documentation                296      92,734,579      57.06      8.025       357        80.07       668
Full Documentation                  208      60,521,993      37.24      7.396       357        81.32       646
Limited Documentation                27       9,251,435       5.69      7.520       356        81.22       650
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


20. CREDIT SCORE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
CREDIT SCORE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

500 - 524                             1         216,000       0.13      7.500       359        90.00       519
550 - 574                             1         249,325       0.15      9.750       351        51.55       553
575 - 599                            14       4,104,955       2.53      7.251       356        78.26       586
600 - 624                           120      36,833,314      22.67      7.863       356        81.93       613
625 - 649                           117      34,552,231      21.26      7.784       357        79.39       637
650 - 674                           112      35,014,895      21.55      7.769       357        80.25       661
675 - 699                            78      24,286,113      14.94      7.775       357        80.75       685
700 - 724                            40      11,756,963       7.23      7.630       357        80.60       711
725 - 749                            24       6,839,742       4.21      7.500       357        82.33       735
750 - 774                            15       5,052,000       3.11      7.912       357        81.61       763
775 - 799                             7       2,978,520       1.83      7.641       356        80.37       782
800 +                                 2         623,948       0.38      7.135       353        80.00       806
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

21. PREPAYMENT PENALTY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PREPAYMENT PENALTY TERM            LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

0                                    96      31,006,377      19.08      8.141       357        81.13       669
6                                     4       1,146,600       0.71      7.843       358        76.59       695
12                                   42      14,888,521       9.16      7.876       357        80.64       653
24                                  292      89,169,622      54.87      7.664       356        80.78       655
30                                    1         180,000       0.11      8.350       358        80.00       677
36                                   93      25,508,986      15.70      7.598       357        79.83       661
60                                    3         607,900       0.37      6.666       358        66.57       661
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

22. LIEN POSITION



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LIEN POSITION                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

1st Lien                            531     162,508,006     100.00      7.762       357        80.60       659
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


23. INTEREST ONLY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INTEREST ONLY TERM                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

24                                    2         431,400       0.27      7.225       358        79.45       606
36                                    3         639,500       0.39      7.938       358        77.28       631
60                                  521     160,349,981      98.67      7.764       357        80.61       659
120                                   5       1,087,125       0.67      7.638       357        81.43       643
                                    ---     -----------     ------      -----       ---        -----       ---
TOTAL:                              531     162,508,006     100.00      7.762       357        80.60       659
                                    ===     ===========     ======      =====       ===        =====       ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                 SILENT SECONDS
                                  1,217 RECORDS
                              BALANCE: 289,707,200

TABLE OF CONTENTS

1. Summary Statistics
2. Originator
3. Product with IO term
4. Range of Gross Interest Rates (%)
5. Range of Cut-off Date Principal Balances ($)
6. Stated Original Term (months)
7. Range of Stated Remaining Terms (months)
8. Range of Combined Original LTV Ratios (%)
9. Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 1,217
Aggregate Principal Balance ($): 289,707,200
Weighted Average Current Mortgage Rate (%): 8.011
Non-Zero Weighted Average Margin (%): 6.278
Non-Zero Weighted Average Maximum Rate (%): 14.830
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 100.00
% Owner Occupied: 97.54
% Purchase: 81.61
% Full Doc: 32.04
Non-Zero Weighted Average Credit Score: 658

2. ORIGINATOR



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
ORIGINATOR                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------                       --------   -----------   ---------   --------   ---------   --------   --------

Accredited                           173     40,206,238      13.88      8.062       357        79.63       665
Chapel                                12      2,761,637       0.95      7.434       351        80.00       650
Encore                                63     21,117,668       7.29      8.022       356        80.30       673
First Banc                            20      4,265,418       1.47      7.651       354        80.16       631
First Horizon                         46      8,083,511       2.79      8.622       358        80.28       647
First NLC                            550    122,127,821      42.16      8.076       357        80.23       654
Funding America                       10      1,766,094       0.61      8.079       354        79.82       643
Lenders Direct                        12      3,009,489       1.04      7.771       354        79.52       655
Lime Financial                        19      5,390,957       1.86      7.665       355        80.00       652
Mandalay                               7      1,551,888       0.54      7.633       354        80.00       638
Master Financial                      57     17,449,800       6.02      7.984       355        80.04       657
Maxim                                  3        336,357       0.12      8.057       357        80.00       649
New Century                          234     58,284,315      20.12      7.834       358        80.19       660
Rose Mortgage                         11      3,356,006       1.16      8.519       357        81.41       656
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


3. PRODUCT WITH IO TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRODUCT WITH IO TERM               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------             --------   -----------   ---------   --------   ---------   --------   --------

Fixed - 15 Year                        1         99,889       0.03      7.600       177        80.00       692
Fixed - 20 Year                        1         64,343       0.02      7.390       237        71.10       661
Fixed - 30 Year                       38      5,169,556       1.78      8.253       357        77.62       634
Balloon - 30/40                       11      2,815,920       0.97      7.988       357        80.76       657
ARM - 2 Year/6 Month Balloon
   30/40                             315     87,890,156      30.34      7.936       357        80.07       661
ARM - 2 Year/6 Month Balloon
   30/50                               1        203,935       0.07      8.450       357        80.00       625
ARM - 3 Year/6 Month Balloon
   30/40                              63     14,585,050       5.03      8.088       357        80.10       656
ARM - 2 Year/6 Month                 356     65,745,338      22.69      8.256       357        80.41       649
ARM - 3 Year/6 Month                 109     16,822,485       5.81      8.714       357        81.21       633
ARM - 5 Year/6 Month                   2        529,701       0.18      8.402       356        76.47       587
Dual Amort - 10/40 -
   2 Year/6 Month                      1        135,481       0.05      6.700       351        80.00       657
Interest Only ARM - 2
   Year/6 Month - 24 mo. IO
   term                                1        210,400       0.07      8.250       358        80.00       628
Interest Only ARM - 3 Year/6
   Month - 36 mo. IO term              2        444,000       0.15      7.937       358        80.00       638
Interest Only Fixed - 30 Year
   - 60 mo. IO term                    5      1,527,800       0.53      8.103       357        81.98       663
Interest Only ARM - 2
   Year/6 Month - 60 mo. IO
   term                              261     80,869,314      27.91      7.752       356        79.88       666
Interest Only ARM - 3
   Year/6 Month - 60 mo. IO
   term                               47     12,135,146       4.19      7.776       357        80.20       676
Interest Only ARM - 5
   Year/6 Month - 60 mo. IO
   term                                1        180,000       0.06      7.500       357        80.00       700
Interest Only ARM - 2
   Year/6 Month - 120 mo. IO
   term                                1        186,686       0.06      8.000       358        80.00       641
Interest Only ARM - 3
   Year/6 Month - 120 mo. IO
   term                                1         92,000       0.03      7.250       359        80.00       652
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF GROSS INTEREST          MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

5.000 - 5.999                          1        266,038       0.09      5.925       358        80.00       707
6.000 - 6.999                        104     28,922,401       9.98      6.770       356        79.97       667
7.000 - 7.999                        532    137,792,619      47.56      7.615       357        79.89       665
8.000 - 8.999                        397     91,436,200      31.56      8.474       357        79.95       652
9.000 - 9.999                        137     26,422,092       9.12      9.385       357        81.29       642
10.000 - 10.999                       41      4,201,833       1.45     10.388       357        84.69       586
11.000 - 11.999                        5        666,017       0.23     11.397       356        85.78       529
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======     ======       ===        =====       ===


Minimum: 5.925
Maximum: 11.840
Weighted Average: 8.011

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF CUT-OFF DATE            MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRINCIPAL BALANCES ($)             LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------------------           --------   -----------   ---------   --------   ---------   --------   --------

25,001 - 50,000                        2         97,825       0.03      9.913       356        80.00       578
50,001 - 75,000                       61      3,974,251       1.37      8.821       355        80.27       617
75,001 - 100,000                      92      8,033,290       2.77      8.818       355        81.47       625
100,001 - 125,000                    116     13,122,372       4.53      8.459       357        81.08       634
125,001 - 150,000                    116     15,985,871       5.52      8.234       357        80.46       645
150,001 - 175,000                     92     14,892,624       5.14      8.167       357        81.08       647
175,001 - 200,000                    117     21,899,939       7.56      8.141       357        80.26       655
200,001 - 225,000                     92     19,555,969       6.75      8.016       357        79.86       659
225,001 - 250,000                     76     18,037,448       6.23      7.811       357        80.00       655
250,001 - 275,000                     66     17,236,772       5.95      7.918       357        80.53       655
275,001 - 300,000                     58     16,578,081       5.72      8.009       357        80.12       660
300,001 - 325,000                     44     13,712,890       4.73      7.752       357        80.22       662
325,001 - 350,000                     34     11,462,327       3.96      7.946       357        80.00       666
350,001 - 375,000                     40     14,452,490       4.99      7.886       357        79.87       666
375,001 - 400,000                     44     17,158,114       5.92      7.833       357        79.06       669
400,001 - 425,000                     30     12,457,483       4.30      7.930       356        80.00       660
425,001 - 450,000                     28     12,286,753       4.24      7.690       357        79.98       655
450,001 - 475,000                     23     10,605,711       3.66      8.046       357        80.49       675
475,001 - 500,000                     28     13,765,149       4.75      7.892       356        78.41       653
500,001 - 750,000                     55     32,065,512      11.07      7.839       357        80.11       669
750,001 - 1,000,000                    3      2,326,326       0.80      8.640       353        80.53       736
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 47,925
Maximum: 780,000
Average: 238,050

6. STATED ORIGINAL TERM (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
STATED ORIGINAL TERM (MONTHS)      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------------    --------   -----------   ---------   --------   ---------   --------   --------

180                                    1         99,889       0.03      7.600       177        80.00       692
240                                    1         64,343       0.02      7.390       237        71.10       661
360                                1,215    289,542,969      99.94      8.011       357        80.13       658
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 180
Maximum: 360
Weighted Average: 360

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF STATED REMAINING        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
TERMS (MONTHS)                     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

169 - 180                              1         99,889       0.03      7.600       177        80.00       692
229 - 240                              1         64,343       0.02      7.390       237        71.10       661
349 - 360                          1,215    289,542,969      99.94      8.011       357        80.13       658
                                   -----    -----------      -----      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 177
Maximum: 359
Weighted Average: 357

8. RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF COMBINED ORIGINAL LTV   MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATIOS (%)                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

45.01 - 50.00                          1        399,475       0.14      8.125       358        49.38       661
55.01 - 60.00                          1        233,539       0.08      8.140       357        60.00       564
65.01 - 70.00                          2        597,135       0.21      7.496       358        69.11       662
70.01 - 75.00                         10      2,268,918       0.78      8.510       352        72.88       641
75.01 - 80.00                      1,131    274,481,518      94.74      7.948       357        79.94       660
80.01 - 85.00                         27      5,086,071       1.76      9.256       356        84.46       619
85.01 - 90.00                         39      5,635,458       1.95      9.462       357        89.69       614
90.01 - 95.00                          6      1,005,085       0.35      9.695       357        94.88       594
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Minimum: 49.38
Maximum: 95.00
Weighted Average: 80.13

9. RANGE OF GROSS MARGINS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RANGE OF GROSS MARGINS (%)         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
<= 3.500                              16      3,076,876       1.06      7.609       358        78.71       671
3.501 - 4.000                         12      2,945,081       1.02      7.250       357        80.00       692
4.001 - 4.500                         18      5,130,001       1.77      7.541       358        80.00       685
4.501 - 5.000                         66     17,015,755       5.87      7.951       357        80.18       665
5.001 - 5.500                        110     34,839,341      12.03      8.067       356        80.22       669
5.501 - 6.000                        172     39,934,784      13.78      7.937       356        79.86       657
6.001 - 6.500                        301     73,719,040      25.45      7.754       357        80.14       658
6.501 - 7.000                        130     32,048,269      11.06      7.705       357        80.14       666
7.001 - 7.500                        282     56,992,999      19.67      8.423       357        80.54       646
7.501 - 8.000                         38     10,261,343       3.54      8.705       357        80.03       639
8.001 - 8.500                         12      3,330,077       1.15      9.120       357        78.71       635
8.501 - 9.000                          2        320,539       0.11      9.279       356        87.16       617
9.001 - 9.500                          2        415,588       0.14      9.370       358        80.00       639
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 2.250
Maximum: 9.240
Non-Zero Weighted Average: 6.278

10. RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MINIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
5.501 - 6.000                          4      1,288,866       0.44      7.686       353        78.87       662
6.001 - 6.500                         18      4,888,589       1.69      6.434       357        80.00       663
6.501 - 7.000                         91     25,439,934       8.78      6.870       356        79.97       664
7.001 - 7.500                        171     46,976,499      16.22      7.310       357        79.79       666
7.501 - 8.000                        338     85,441,109      29.49      7.806       357        79.95       666
8.001 - 8.500                        206     50,288,148      17.36      8.284       357        79.84       654
8.501 - 9.000                        167     36,978,735      12.76      8.773       357        80.50       649
9.001 - 9.500                         79     17,280,867       5.96      9.244       357        81.01       654
9.501 - 10.000                        49      7,636,224       2.64      9.794       357        81.69       620
10.001 -10.500                        19      1,987,969       0.69     10.231       357        85.32       576
10.501 - 11.000                       16      1,495,946       0.52     10.701       357        86.09       571
11.001 - 11.500                        3        326,809       0.11     11.157       355        84.28       534
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 5.750
Maximum: 11.250
Non-Zero Weighted Average: 7.996

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MINIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
<= 12.500                             14      4,870,505       1.68      7.074       356        80.22       679
12.501 - 13.000                       27      8,568,078       2.96      7.366       355        80.00       679
13.001 - 13.500                       37     10,436,346       3.60      7.252       356        80.00       664
13.501 - 14.000                       98     26,234,900       9.06      7.188       356        79.90       655
14.001 - 14.500                      170     46,949,186      16.21      7.448       357        79.88       666
14.501 - 15.000                      318     79,644,289      27.49      7.837       357        79.99       664
15.001 - 15.500                      188     44,014,116      15.19      8.300       357        79.79       651
15.501 - 16.000                      160     33,700,952      11.63      8.792       357        80.53       650
16.001 - 16.500                       73     15,372,992       5.31      9.265       357        80.94       656
16.501 - 17.000                       44      6,642,531       2.29      9.815       357        81.42       621
17.001 - 17.500                       14      1,565,701       0.54     10.221       358        86.76       572
17.501 - 18.000                       14      1,358,561       0.47     10.707       357        86.70       576
18.001 - 18.500                        3        326,809       0.11     11.157       355        84.28       534
23.501 - 24.000                        1        344,727       0.12      8.350       356        80.00       596
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 11.700
Maximum: 23.690
Non-Zero Weighted Average: 14.830

12. INITIAL PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INITIAL PERIODIC CAP (%)           LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------         --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
1.500                                214     51,329,590      17.72      8.011       357        80.13       661
2.000                                249     67,332,688      23.24      7.900       357        80.13       666
3.000                                696    161,088,729      55.60      8.050       357        80.19       654
6.000                                  2        278,686       0.10      7.752       358        80.00       645
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.488

13. SUBSEQUENT PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
SUBSEQUENT PERIODIC CAP (%)        LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------------------------      --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
1.000                                255     66,051,430      22.80      8.035       355        80.09       654
1.500                                899    211,322,026      72.94      7.999       357        80.18       658
2.000                                  7      2,656,237       0.92      7.891       352        80.46       703
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.387

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MONTHS TO NEXT RATE ADJUSTMENT     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
13                                     1        148,392       0.05      7.715       349        80.00       688
14                                     7      2,329,786       0.80      7.143       350        80.00       690
15                                    19      5,094,547       1.76      7.717       351        79.24       653
16                                    12      1,750,067       0.60      7.630       352        80.00       647
17                                    33      8,780,754       3.03      7.912       353        80.08       656
18                                    33      7,914,131       2.73      7.713       354        80.05       641
19                                    58     14,380,399       4.96      8.142       355        80.25       646
20                                   130     37,034,008      12.78      8.036       356        80.15       659
21                                   206     53,695,047      18.53      7.979       357        80.11       658
22                                   398     94,401,496      32.59      7.966       358        80.15       662
23                                    39      9,712,683       3.35      7.930       359        79.66       675
27                                     1        620,450       0.21      8.750       351        80.00       629
28                                     1         91,129       0.03      9.250       352        80.00       628
30                                     1         89,178       0.03      7.300       354        80.00       597
31                                     3        567,572       0.20      7.899       355        80.00       624
32                                    18      3,466,141       1.20      8.346       356        80.07       656
33                                    69     14,109,223       4.87      8.270       357        80.54       651
34                                   124     24,415,031       8.43      8.218       358        80.67       654
35                                     5        719,955       0.25      7.574       359        80.00       666
55                                     1        373,958       0.13      8.990       355        75.00       566
57                                     1        180,000       0.06      7.500       357        80.00       700
58                                     1        155,743       0.05      6.990       358        80.00       636
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 13
Maximum: 58
Non-Zero Weighted Average: 23

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
GEOGRAPHIC DISTRIBUTION OF       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGED PROPERTIES               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

California                           318    115,775,859      39.96      7.830       357        79.87       666
Florida                              169     35,601,279      12.29      8.062       356        80.19       660
Illinois                              87     17,777,106       6.14      8.212       356        79.98       652
New York                              49     15,056,161       5.20      7.929       357        79.43       680
Arizona                               54     10,067,195       3.47      8.017       357        80.12       657
Nevada                                38      9,626,254       3.32      7.821       357        80.04       647
Massachusetts                         27      6,347,343       2.19      8.060       357        80.18       634
Maryland                              22      6,181,188       2.13      7.507       357        80.10       661
Texas                                 48      6,089,849       2.10      8.367       356        79.89       650
Hawaii                                12      5,585,554       1.93      7.970       357        80.22       683
Georgia                               34      5,516,700       1.90      8.268       357        80.50       644
Washington                            26      4,984,354       1.72      7.614       357        80.00       643
Virginia                              18      4,484,906       1.55      8.227       357        80.16       633
Michigan                              43      4,365,127       1.51      8.795       357        81.17       621
Rhode Island                          18      4,236,926       1.46      8.148       357        80.40       655
Other                                254     38,011,399      13.12      8.403       357        81.07       638
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Number of States/District of Columbia Represented: 46

16. OCCUPANCY



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
GEOGRAPHIC DISTRIBUTION OF       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGED PROPERTIES               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

Primary                            1,180    282,586,745      97.54      7.995       357        80.09       657
Second Home                           22      5,159,137       1.78      8.474       358        80.09       683
Investment                            15      1,961,319       0.68      9.128       357        85.95       640
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


17. PROPERTY TYPE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PROPERTY TYPE                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

Single Family Residence              948    219,393,366      75.73      7.987       357        80.19       655
2-4 Family                            83     25,610,497       8.84      8.150       357        79.85       670
Planned Unit Development              91     23,398,178       8.08      7.953       356        79.93       659
Condo                                 95     21,305,159       7.35      8.149       357        80.03       667
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


18. LOAN PURPOSE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LOAN PURPOSE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

Purchase                           1,003    236,420,665      81.61      8.034       357        80.21       660
Refinance - Cashout                  187     48,429,103      16.72      7.922       356        79.76       645
Refinance - Rate Term                 27      4,857,433       1.68      7.762       355        79.82       643
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


19. DOCUMENTATION LEVEL



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
DOCUMENTATION LEVEL                LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------              --------   -----------   ---------   --------   ---------   --------   --------

Stated Documentation                 708    184,346,856      63.63      8.167       357        80.01       671
Full Documentation                   469     92,821,538      32.04      7.745       357        80.39       633
Limited Documentation                 40     12,538,806       4.33      7.681       356        79.92       635
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


20. CREDIT SCORE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
CREDIT SCORE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

500 - 524                             10        934,676       0.32      10.533      357        79.60       512
525 - 549                             18      2,112,298       0.73       9.686      357        83.55       537
550 - 574                             29      3,346,879       1.16       9.584      357        82.21       562
575 - 599                             63     10,409,051       3.59       8.414      357        81.86       589
600 - 624                            236     52,696,509      18.19       8.038      357        80.31       614
625 - 649                            289     66,951,762      23.11       8.068      357        80.10       637
650 - 674                            241     62,593,727      21.61       7.966      357        79.74       661
675 - 699                            145     39,557,426      13.65       7.837      356        79.91       686
700 - 724                             90     24,309,333       8.39       7.790      357        79.92       711
725 - 749                             50     13,073,130       4.51       7.861      357        80.11       735
750 - 774                             31      8,827,791       3.05       7.811      357        80.10       760
775 - 799                             15      4,894,619       1.69       7.624      357        80.00       782
                                   -----    -----------     ------       -----      ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00       8.011      357        80.13       658
                                   =====    ===========     ======       =====      ===        =====       ===


Non-Zero Minimum: 502
Maximum: 792
Non-Zero Weighted Average: 658

21. PREPAYMENT PENALTY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PREPAYMENT PENALTY TERM            LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

0                                    282     64,870,672      22.39      8.295       357        80.21       662
6                                      9      2,351,625       0.81      7.936       357        78.31       682
12                                    93     28,093,125       9.70      8.177       357        79.74       670
24                                   614    150,198,742      51.85      7.825       357        80.12       655
30                                     3        528,053       0.18      9.097       358        83.07       632
36                                   210     42,426,697      14.64      8.108       357        80.34       652
60                                     6      1,238,287       0.43      8.286       357        80.00       618
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

22. LIEN POSITION



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LIEN POSITION                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

1st Lien                           1,217    289,707,200     100.00      8.011       357        80.13       658
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


23. INTEREST ONLY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INTEREST ONLY TERM                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

0                                    898    194,061,855      66.99      8.133       357        80.22       653
24                                     1        210,400       0.07      8.250       358        80.00       628
36                                     2        444,000       0.15      7.937       358        80.00       638
60                                   314     94,712,259      32.69      7.760       357        79.96       667
120                                    2        278,686       0.10      7.752       358        80.00       645
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,217    289,707,200     100.00      8.011       357        80.13       658
                                   =====    ===========     ======      =====       ===        =====       ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                 PURCHASE LOANS
                                  1,871 RECORDS
                              BALANCE: 357,138,841

TABLE OF CONTENTS

1.  Summary Statistics
2.  Originator
3.  Product with IO term
4.  Range of Gross Interest Rates (%)
5.  Range of Cut-off Date Principal Balances ($)
6.  Stated Original Term (months)
7.  Range of Stated Remaining Terms (months)
8.  Range of Combined Original LTV Ratios (%)
9.  Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 1,871
Aggregate Principal Balance ($): 357,138,841
Weighted Average Current Mortgage Rate (%): 8.464
Non-Zero Weighted Average Margin (%): 6.297
Non-Zero Weighted Average Maximum Rate (%): 15.019
Weighted Average Stated Original Term (months): 349
Weighted Average Stated Remaining Term (months): 346
Weighted Average Combined Original LTV (%): 82.85
% First Liens: 92.83
% Owner Occupied: 91.51
% Purchase: 100.00
% Full Doc: 29.88
Non-Zero Weighted Average Credit Score: 656

2. ORIGINATOR



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
ORIGINATOR                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------                       --------   -----------   ---------   --------   ---------   --------   --------

Accredited                           178     40,429,115      11.32      8.168       357        79.69       663
Chapel                                10      2,375,078       0.67      7.623       348        80.40       655
Encore                                85     24,986,131       7.00      8.364       355        82.25       659
First Banc                            42      7,385,181       2.07      8.210       338        82.80       647
First Horizon                        116     17,462,297       4.89      9.369       357        86.40       631
First NLC                            862    143,685,126      40.23      8.559       341        83.05       654
Flex Point                             1        194,413       0.05      7.900       358        80.00       724
Funding America                       36      3,862,193       1.08      8.880       355        85.52       646
Lenders Direct                        28      3,896,537       1.09      8.758       316        85.25       655
Lime Financial                        35      7,489,991       2.10      8.263       336        83.52       652
Mandalay                              25      3,379,025       0.95      9.035       280        88.88       692
Master Financial                     143     29,667,783       8.31      8.718       324        85.90       657
Maxim                                 12        916,672       0.26      9.658       316        87.28       615
New Century                          272     65,970,544      18.47      8.098       358        81.60       659
Rose Mortgage                         26      5,438,755       1.52      8.676       357        82.92       669
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


3. PRODUCT WITH IO TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRODUCT WITH IO TERM               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------             --------   -----------   ---------   --------   ---------   --------   --------

Fixed - 15 Year                        5        229,047       0.06     11.203       175        97.32       626
Fixed - 20 Year                        4        139,084       0.04     11.864       236        99.99       670
Fixed - 30 Year                      119      9,643,815       2.70      9.670       356        86.90       649
Balloon - 15/30                      324     21,539,738       6.03     11.505       176        99.94       657
Balloon - 30/40                       13      3,532,692       0.99      8.272       357        82.09       657
ARM - 2 Year/6 Month Balloon
   30/40                             337     93,287,730      26.12      8.084       357        81.15       658
ARM - 2 Year/6 Month Balloon
   30/50                               1        203,935       0.06      8.450       357        80.00       625
ARM - 3 Year/6 Month Balloon
   30/40                              70     15,186,959       4.25      8.471       358        80.68       643
ARM - 1 Year/6 Month                   1        268,513       0.08      7.990       352        90.00       608
ARM - 2 Year/6 Month                 534     96,698,667      27.08      8.596       357        83.04       647
ARM - 3 Year/6 Month                 140     20,851,175       5.84      8.876       357        81.88       630
ARM - 5 Year/6 Month                   2        350,156       0.10      7.495       358        80.00       685
Dual Amort - 10/40 - 2 Year/
   6 Month                             1        135,481       0.04      6.700       351        80.00       657
Interest Only ARM - 2 Year/
   6 Month - 24 mo. IO term            1        210,400       0.06      8.250       358        80.00       628
Interest Only ARM - 3 Year/
   6 Month - 36 mo. IO term            1        228,000       0.06      7.475       358        80.00       666
Interest Only Fixed - 30 Year
   - 60 mo. IO term                    3        544,800       0.15      8.218       357        80.00       663
Interest Only ARM - 2 Year/
   6 Month - 60 mo. IO term          270     82,694,518      23.15      7.784       356        80.59       669
Interest Only ARM - 3 Year/
   6 Month - 60 mo. IO term           41     10,615,446       2.97      7.923       357        80.42       682
Interest Only ARM - 5 Year/
   6 Month - 60 mo. IO term            1        180,000       0.05      7.500       357        80.00       700
Interest Only ARM - 2 Year/
   6 Month - 120 mo. IO term           1        186,686       0.05      8.000       358        80.00       641
Interest Only ARM - 3 Year/
   6 Month - 120 mo. IO term           1         92,000       0.03      7.250       359        80.00       652
Interest Only ARM - 5 Year/
   6 Month - 120 mo. IO term           1        320,000       0.09      8.000       357        80.00       656
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF GROSS INTEREST          MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

5.000 - 5.999                          1        266,038       0.07      5.925       358        80.00       707
6.000 - 6.999                         94     27,700,151       7.76      6.781       356        80.03       679
7.000 - 7.999                        532    140,239,086      39.27      7.624       357        79.93       668
8.000 - 8.999                        447    100,315,112      28.09      8.498       357        81.41       651
9.000 - 9.999                        296     47,534,950      13.31      9.469       353        85.47       639
10.000 - 10.999                      201     20,744,772       5.81     10.528       309        91.81       621
11.000 - 11.999                      179     13,358,205       3.74     11.582       217        98.43       637
12.000 - 12.999                       86      5,384,717       1.51     12.447       235        98.96       637
13.000 - 13.999                       33      1,487,477       0.42     13.378       210        99.68       626
14.000 - 14.999                        2        108,333       0.03     14.151       257       100.00       637
                                   -----    -----------     ------     ------       ---       ------       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===       ======       ===


Minimum: 5.925
Maximum: 14.240
Weighted Average: 8.464

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF CUT-OFF DATE            MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PRINCIPAL BALANCES ($)             LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
----------------------           --------   -----------   ---------   --------   ---------   --------   --------

1 - 25,000                            29        634,698       0.18     10.992       270        99.80       649
25,001 - 50,000                      163      6,322,346       1.77     11.491       234        97.39       642
50,001 - 75,000                      209     13,091,225       3.67     10.529       266        92.93       640
75,001 - 100,000                     182     15,971,047       4.47      9.839       307        88.68       636
100,001 - 125,000                    177     19,857,864       5.56      9.429       324        86.37       636
125,001 - 150,000                    155     21,294,960       5.96      8.818       345        83.28       643
150,001 - 175,000                    123     19,878,570       5.57      8.626       347        82.84       644
175,001 - 200,000                    133     24,973,132       6.99      8.432       355        82.05       655
200,001 - 225,000                    115     24,442,257       6.84      8.357       357        81.93       656
225,001 - 250,000                     96     22,695,254       6.35      8.241       357        81.72       655
250,001 - 275,000                     77     20,147,578       5.64      8.051       357        81.68       653
275,001 - 300,000                     60     17,155,123       4.80      8.029       357        81.26       661
300,001 - 325,000                     49     15,298,619       4.28      7.903       357        80.82       656
325,001 - 350,000                     40     13,475,774       3.77      8.087       357        82.14       661
350,001 - 375,000                     38     13,738,890       3.85      7.936       357        80.78       673
375,001 - 400,000                     49     19,052,282       5.33      7.988       357        80.86       666
400,001 - 425,000                     30     12,433,046       3.48      7.957       356        80.33       661
425,001 - 450,000                     29     12,728,508       3.56      7.725       357        80.69       648
450,001 - 475,000                     22     10,175,304       2.85      8.187       357        82.07       682
475,001 - 500,000                     29     14,243,477       3.99      7.847       356        78.94       665
500,001 - 750,000                     61     35,364,322       9.90      7.953       357        81.65       671
750,001 - 1,000,000                    5      4,164,564       1.17      8.447       355        78.83       687
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Minimum: 14,774
Maximum: 988,617
Average: 190,881

6. STATED ORIGINAL TERM (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
STATED ORIGINAL TERM (MONTHS)      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------------    --------   -----------   ---------   --------   ---------   --------   --------

180                                  329     21,768,785       6.10     11.502       176        99.91       657
240                                    4        139,084       0.04     11.864       236        99.99       670
360                                1,538    335,230,972      93.87      8.265       357        81.73       656
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Minimum: 180
Maximum: 360
Weighted Average: 349

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF STATED REMAINING        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
TERMS (MONTHS)                     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

169 - 180                            329     21,768,785       6.10     11.502       176        99.91       657
229 - 240                              4        139,084       0.04     11.864       236        99.99       670
337 - 348                              1         73,261       0.02     10.240       348        99.97       615
349 - 360                          1,537    335,157,712      93.85      8.265       357        81.73       656
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Minimum: 169
Maximum: 359
Weighted Average: 346

8. RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF COMBINED ORIGINAL LTV   MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATIOS (%)                         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

15.01 - 20.00                          1         44,732       0.01      7.600       355        18.33       526
30.01 - 35.00                          1        165,809       0.05      8.765       358        34.95       621
35.01 - 40.00                          1         49,824       0.01      8.750       354        40.00       513
40.01 - 45.00                          1        134,649       0.04      6.740       357        40.30       647
45.01 - 50.00                          1        199,680       0.06      7.140       358        47.62       751
50.01 - 55.00                          4        752,811       0.21      8.798       358        52.59       597
55.01 - 60.00                          1        233,539       0.07      8.140       357        60.00       564
60.01 - 65.00                          7      1,066,182       0.30      8.786       357        63.01       587
65.01 - 70.00                          8      2,313,980       0.65      7.726       357        68.69       654
70.01 - 75.00                         16      4,187,949       1.17      8.450       357        74.08       635
75.01 - 80.00                      1,098    263,700,949      73.84      7.986       357        79.95       661
80.01 - 85.00                         72     12,669,776       3.55      9.147       356        84.72       608
85.01 - 90.00                        144     26,316,289       7.37      9.186       357        89.99       636
90.01 - 95.00                         84     15,474,492       4.33      9.502       355        94.87       656
95.01 - 100.00                       432     29,828,181       8.35     11.277       226        99.98       656
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Minimum: 18.33
Maximum: 100.00
Weighted Average: 82.85

9. RANGE OF GROSS MARGINS (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RANGE OF GROSS MARGINS (%)         LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
<= 3.500                              13      2,601,816       0.73      7.671       358        78.48       670
3.501 - 4.000                         10      2,597,670       0.73      7.189       357        80.00       696
4.001 - 4.500                         17      4,770,140       1.34      7.523       357        80.00       692
4.501 - 5.000                         73     21,001,722       5.88      7.983       357        81.01       666
5.001 - 5.500                        138     40,662,696      11.39      8.210       356        81.95       664
5.501 - 6.000                        238     49,402,085      13.83      8.166       357        81.96       657
6.001 - 6.500                        350     83,083,064      23.26      8.084       357        81.38       655
6.501 - 7.000                        155     34,753,104       9.73      7.917       357        81.19       663
7.001 - 7.500                        342     66,418,605      18.60      8.591       357        81.73       644
7.501 - 8.000                         43     10,708,333       3.00      8.898       357        82.31       634
8.001 - 8.500                         14      3,417,780       0.96      9.215       357        80.23       630
8.501 - 9.000                          5      1,428,141       0.40      9.325       357        90.99       640
9.001 - 9.500                          4        608,535       0.17     10.003       357        81.06       607
9.501 - 10.000                         1         55,974       0.02     12.999       358        80.00       593
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 2.250
Maximum: 9.999
Non-Zero Weighted Average: 6.297

10. RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MINIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
5.501 - 6.000                          4      1,288,866       0.36      7.686       353        78.87       662
6.001 - 6.500                         15      4,261,633       1.19      6.501       356        81.45       693
6.501 - 7.000                         81     23,583,816       6.60      6.871       356        80.10       667
7.001 - 7.500                        166     45,527,883      12.75      7.302       357        79.95       671
7.501 - 8.000                        352     91,209,532      25.54      7.804       357        79.95       667
8.001 - 8.500                        218     50,741,290      14.21      8.266       357        80.50       654
8.501 - 9.000                        210     46,266,163      12.95      8.789       357        82.77       649
9.001 - 9.500                        130     26,592,312       7.45      9.270       357        83.80       645
9.501 - 10.000                       110     16,638,710       4.66      9.798       357        86.82       628
10.001 -10.500                        52      7,222,815       2.02     10.231       357        88.67       597
10.501 - 11.000                       47      6,244,782       1.75     10.800       357        89.16       589
11.001 - 11.500                        7        791,059       0.22     11.192       356        89.61       551
11.501 - 12.000                        4        524,605       0.15     11.819       357        87.17       562
12.001 - 12.500                        2        136,225       0.04     12.292       358        90.58       591
12.501 - 13.000                        5        479,972       0.13     12.870       358        91.39       666
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.214

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
RANGE OF MAXIMUM MORTGAGE        MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
RATES (%)                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------------        --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
<= 12.500                             11      3,573,983       1.00      7.010       355        80.33       701
12.501 - 13.000                       32     10,102,745       2.83      7.438       356        80.99       673
13.001 - 13.500                       35     10,632,373       2.98      7.414       357        81.40       667
13.501 - 14.000                       96     27,112,081       7.59      7.278       356        80.26       660
14.001 - 14.500                      169     45,895,325      12.85      7.454       357        80.19       668
14.501 - 15.000                      338     85,709,089      24.00      7.887       357        80.14       664
15.001 - 15.500                      206     45,996,863      12.88      8.311       357        80.29       652
15.501 - 16.000                      200     41,300,492      11.56      8.832       357        82.88       650
16.001 - 16.500                      122     23,845,807       6.68      9.304       357        84.25       647
16.501 - 17.000                       95     13,864,423       3.88      9.835       357        86.56       627
17.001 - 17.500                       41      6,007,931       1.68     10.226       358        89.15       596
17.501 - 18.000                       41      5,681,563       1.59     10.811       358        89.33       590
18.001 - 18.500                        7        791,059       0.22     11.192       356        89.61       551
18.501 - 19.000                        3        379,735       0.11     11.807       357        95.84       574
19.001 - 19.500                        2        136,225       0.04     12.292       358        90.58       591
19.501 - 20.000                        5        479,972       0.13     12.870       358        91.39       666
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 11.700
Maximum: 19.999
Non-Zero Weighted Average: 15.019

12. INITIAL PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INITIAL PERIODIC CAP (%)           LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------         --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
1.500                                221     52,111,711      14.59      8.149       357        79.99       657
2.000                                302     78,619,922      22.01      8.171       357        81.86       661
3.000                                877    190,179,346      53.25      8.266       357        81.90       653
5.000                                  1        320,000       0.09      8.000       357        80.00       656
6.000                                  2        278,686       0.08      7.752       358        80.00       645
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.517

13. SUBSEQUENT PERIODIC CAP (%)



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
SUBSEQUENT PERIODIC CAP (%)        LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------------------------      --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
1.000                                395     92,690,848      25.95      8.353       356        82.82       651
1.500                              1,000    226,086,154      63.30      8.172       357        81.08       657
2.000                                  8      2,732,662       0.77      7.978       352        80.45       697
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.360

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MONTHS TO NEXT RATE ADJUSTMENT     LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------------------   --------   -----------   ---------   --------   ---------   --------   --------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
4                                      1        268,513       0.08      7.990       352        90.00       608
13                                     1        148,392       0.04      7.715       349        80.00       688
14                                     8      2,693,784       0.75      7.056       350        80.00       706
15                                    16      4,637,738       1.30      7.812       351        79.17       656
16                                    15      2,649,859       0.74      8.034       352        82.49       634
17                                    27      7,189,737       2.01      7.849       353        80.59       654
18                                    35      7,569,738       2.12      7.997       354        81.46       641
19                                    75     18,425,031       5.16      8.110       355        81.99       655
20                                   157     40,919,696      11.46      8.199       356        81.57       655
21                                   273     66,683,819      18.67      8.217       357        81.69       655
22                                   484    110,665,263      30.99      8.211       358        81.72       660
23                                    54     11,834,359       3.31      8.340       359        82.39       666
27                                     1        620,450       0.17      8.750       351        80.00       629
28                                     1         91,129       0.03      9.250       352        80.00       628
30                                     2        205,762       0.06      8.088       354        85.67       625
31                                     7      1,414,958       0.40      8.720       355        84.82       603
32                                    23      4,013,813       1.12      8.844       356        82.20       639
33                                    73     13,492,157       3.78      8.486       357        82.13       646
34                                   139     25,962,440       7.27      8.467       358        80.52       651
35                                     7      1,172,870       0.33      8.627       359        75.69       621
57                                     2        500,000       0.14      7.820       357        80.00       672
58                                     2        350,156       0.10      7.495       358        80.00       685
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 4
Maximum: 58
Non-Zero Weighted Average: 23

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
GEOGRAPHIC DISTRIBUTION OF       MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
MORTGAGED PROPERTIES               LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
--------------------------       --------   -----------   ---------   --------   ---------   --------   --------

California                           525    143,005,704      40.04      8.256       340        82.53       664
Florida                              337     56,184,675      15.73      8.616       344        83.71       654
Illinois                             120     20,081,689       5.62      8.612       346        82.62       659
New York                              61     19,558,188       5.48      7.997       357        81.25       686
Arizona                               73     11,951,433       3.35      8.400       348        81.38       650
Texas                                114     10,798,579       3.02      8.795       352        84.07       644
Nevada                                50     10,079,536       2.82      8.166       346        83.38       650
Virginia                              29      5,670,587       1.59      8.731       345        82.65       634
Georgia                               35      5,232,144       1.47      8.678       357        82.98       645
Rhode Island                          26      4,985,087       1.40      8.800       355        83.36       646
Pennsylvania                          45      4,911,047       1.38      8.873       357        84.88       634
Massachusetts                         25      4,871,915       1.36      8.488       351        82.46       643
Maryland                              26      4,870,884       1.36      8.489       350        82.34       644
Michigan                              52      4,849,320       1.36      9.304       350        83.98       618
Connecticut                           28      4,759,966       1.33      8.652       353        81.33       648
Other                                325     45,328,090      12.69      8.814       352        83.41       638
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


Number of States/District of Columbia Represented: 46

16. OCCUPANCY



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
OCCUPANCY                          LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
---------                        --------   -----------   ---------   --------   ---------   --------   --------

Primary                            1,699    326,818,222      91.51      8.397       345        82.45       655
Investment                           131     21,511,917       6.02      9.313       357        88.60       661
Second Home                           41      8,808,702       2.47      8.865       355        83.54       669
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


17. PROPERTY TYPE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PROPERTY TYPE                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

Single Family Residence            1,435    261,279,826      73.16      8.483       345        83.08       653
2-4 Family                           141     36,508,135      10.22      8.443       347        82.19       677
Condo                                177     33,304,474       9.33      8.481       347        82.64       656
Planned Unit Development             118     26,046,406       7.29      8.283       349        81.70       651
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


18. LOAN PURPOSE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LOAN PURPOSE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

Purchase                           1,871    357,138,841     100.00      8.464       346        82.85       656
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


19. DOCUMENTATION LEVEL



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
DOCUMENTATION LEVEL                LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------------              --------   -----------   ---------   --------   ---------   --------   --------

Stated Documentation               1,163    233,880,805      65.49      8.589       345        82.64       667
Full Documentation                   620    106,698,677      29.88      8.207       349        83.11       634
Limited Documentation                 88     16,559,358       4.64      8.352       339        84.05       639
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


20. CREDIT SCORE



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
CREDIT SCORE                       LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------                     --------   -----------   ---------   --------   ---------   --------   --------

500 - 524                             28      2,836,387       0.79     10.304       355        79.78       515
525 - 549                             36      4,456,848       1.25      9.969       355        80.60       536
550 - 574                             60      8,291,016       2.32      9.649       355        85.30       560
575 - 599                            122     17,713,588       4.96      9.133       351        85.51       589
600 - 624                            316     59,598,907      16.69      8.534       345        82.36       613
625 - 649                            464     84,524,454      23.67      8.577       343        83.14       636
650 - 674                            331     65,858,199      18.44      8.327       343        82.48       661
675 - 699                            220     46,971,296      13.15      8.252       346        82.62       686
700 - 724                            133     29,120,549       8.15      8.120       346        83.23       711
725 - 749                             85     18,524,265       5.19      8.120       352        83.20       735
750 - 774                             49     11,866,892       3.32      7.974       349        81.48       760
775 - 799                             23      6,725,420       1.88      7.628       351        80.92       783
800 +                                  4        651,020       0.18      7.531       305        86.99       809
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 656

21. PREPAYMENT PENALTY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
PREPAYMENT PENALTY TERM            LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-----------------------          --------   -----------   ---------   --------   ---------   --------   --------

0                                    448     79,066,200      22.14      8.794       348        83.51       661
6                                      6      1,932,196       0.54      7.890       357        77.95       688
12                                   124     35,260,831       9.87      8.325       354        81.33       670
24                                   867    182,957,567      51.23      8.193       350        82.47       653
30                                     3        554,429       0.16      9.134       358        84.84       643
36                                   416     56,261,893      15.75      8.969       325        84.31       647
60                                     7      1,105,726       0.31      8.968       358        79.48       602
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

22. LIEN POSITION



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
LIEN POSITION                      LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
-------------                    --------   -----------   ---------   --------   ---------   --------   --------

1st Lien                           1,465    331,517,580      92.83      8.228       357        81.53       656
2nd Lien                             406     25,621,261       7.17     11.515       203        99.94       657
                                   -----    -----------     ------     ------       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======     ======       ===        =====       ===


23. INTEREST ONLY TERM



                                                             % OF
                                                           MORTGAGE
                                                           POOL BY
                                             AGGREGATE    AGGREGATE   WEIGHTED    WEIGHTED   WEIGHTED
                                  NUMBER      CUT-OFF      CUT-OFF     AVERAGE    AVERAGE     AVERAGE   WEIGHTED
                                    OF          DATE         DATE       GROSS    REMAINING   COMBINED    AVERAGE
                                 MORTGAGE    PRINCIPAL    PRINCIPAL   INTEREST      TERM     ORIGINAL     FICO
INTEREST ONLY TERM                 LOANS    BALANCE ($)    BALANCE    RATE (%)    (MONTHS)      LTV       SCORE
------------------               --------   -----------   ---------   --------   ---------   --------   --------

0                                  1,551    262,066,992      73.38      8.704       342        83.68       650
24                                     1        210,400       0.06      8.250       358        80.00       628
36                                     1        228,000       0.06      7.475       358        80.00       666
60                                   315     94,034,763      26.33      7.801       356        80.56       671
120                                    3        598,686       0.17      7.885       358        80.00       651
                                   -----    -----------     ------      -----       ---        -----       ---
TOTAL:                             1,871    357,138,841     100.00      8.464       346        82.85       656
                                   =====    ===========     ======      =====       ===        =====       ===


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research department. It was prepared by Morgan Stanley sales, trading or other
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NOTES:

DO NOT CHANGE THE FORMAT OF THE TEMPLATE - DO NOT ADD OR DELETE ROWS OR COLUMNS

ROW LABELS IN THE GEORGRAPHIC DISTRIBUTION AND TOP ORIGINATORS TABLE NEED TO BE
MODIFIED - NO OTHER LABELS SHOULD BE MODIFIED IF YOU INCLUDE DATA IN THE "OTHER"
CATEGORY FOR ANY TABLE, PLEASE PROVIDE AN EXPLANATION AND UNDERLYING DETAIL IN
YOUR RETURN EMAIL PERCENTAGE DATA SHOULD BE IN PERCENTAGE FORMAT

SEE FOOTNOTES FOR A DESCRIPTION OF LTV, CLTV AND DTI CALCULATIONS

PLEASE DIRECT ANY QUESTIONS TO DAVE LYLE AT 502-581-5313 OR
DAVID_LYLE@INVESCO.COM

                                S&P LOSS COVERAGE

RATING   FREQUENCY   SEVERITY   LOSS COV
------   ---------   --------   --------
AAA
AA+
AA
AA-
A+
A
A-
BBB+
BBB
BBB-
BB+
BB
BB-
B+
B
B-

                              MOODY'S LOSS COVERAGE

RATING   FREQUENCY   SEVERITY   LOSS COV
------   ---------   --------   --------
Aaa
Aa1
Aa2
Aa3
A1
A2
A3
Baa1
Baa2
Baa3
Ba1
Ba2
Ba3
B1
B2
B3



                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
OUTSTANDING PRINCIPAL BALANCE  OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-----------------------------  --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

$50,000 or less                     248    9,283,423.98         1.11      11.173   634    37,433.16        93.86        93.86
$50,001 to $75,000                  368   23,374,010.94         2.80      10.133   619    63,516.33        85.80        85.80
$75,001 to $100,000                 411   36,041,775.80         4.32       9.306   613    87,692.89        82.48        82.48
$100,001 to $125,000                446   50,423,050.06         6.04       9.043   607   113,056.17        79.89        79.89
$125,001 to $150,000                401   55,346,959.13         6.63       8.770   608   138,022.34        78.26        78.26
$150,001 to $175,000                353   57,212,083.50         6.85       8.643   611   162,073.89        77.83        77.83
$175,001 to $200,000                344   64,684,246.00         7.75       8.466   617   188,035.60        78.47        78.47
$200,001 to $225,000                279   59,356,344.33         7.11       8.352   626   212,746.75        79.43        79.43
$225,001 to $250,000                241   57,191,617.84         6.85       8.343   620   237,309.62        78.87        78.87
$250,001 to $275,000                183   47,999,942.52         5.75       8.193   619   262,294.77        79.91        79.91
$275,001 to $300,000                163   46,951,779.82         5.62       8.179   623   288,047.73        79.05        79.05
$300,001 to $325,000                131   40,901,155.02         4.90       8.122   626   312,222.56        79.24        79.24
$325,001 to $350,000                109   36,783,057.97         4.41       8.248   631   337,459.25        80.75        80.75
$350,001 to $375,000                 78   28,168,659.68         3.37       8.110   649   361,136.66        79.36        79.36
$375,001 to $400,000                 86   33,483,287.22         4.01       8.081   644   389,340.55        80.31        80.31
$400,001 to $450,000                122   51,768,201.03         6.20       8.045   633   424,329.52        81.20        81.20
$450,001 to $500,000                 97   46,417,074.87         5.56       8.045   647   478,526.55        80.69        80.69
$500,001 to $600,000                 89   48,760,140.16         5.84       8.053   645   547,866.74        81.49        81.49
$600,001 to $700,000                 34   21,963,801.28         2.63       8.136   653   645,994.16        81.37        81.37
$700,001 to $800,000                 19   14,142,152.37         1.69       8.468   653   744,323.81        82.74        82.74
$800,001 to $900,000                  2    1,704,621.74         0.20       8.431   646   852,310.87        84.37        84.37
$900,001 to $1,000,000                3    2,976,915.90         0.36       7.537   653   992,305.30        78.54        78.54
$1,000,001 or greater
                                  -----  --------------         ----      ------   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16          100       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============         ====      ======   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
OUTSTANDING PRINCIPAL BALANCE  OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
-----------------------------  --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

$50,000 or less                   85.07     76.92     0.00    12.17     75.98         0.00      40.37         59.20     37.18
$50,001 to $75,000                56.05     41.26     0.31    45.67     35.71         0.26      39.96         58.31     49.77
$75,001 to $100,000               46.72     21.28     2.44    60.46     15.17         1.54      40.08         59.54     53.24
$100,001 to $125,000              38.66     17.11     3.58    73.92      9.72         1.54      40.70         60.04     57.41
$125,001 to $150,000              32.08     10.15     4.98    82.43      3.19         3.28      41.57         65.79     51.61
$150,001 to $175,000              29.33      8.18     7.11    83.55      2.01         2.85      42.15         70.84     54.04
$175,001 to $200,000              27.33      4.38    16.43    90.37      0.30         3.19      43.03         75.11     45.46
$200,001 to $225,000              32.58      6.51    18.42    93.20      0.00         4.33      43.08         72.80     41.71
$225,001 to $250,000              30.66      6.27    20.29    89.59      0.00         2.89      44.00         79.55     38.95
$250,001 to $275,000              26.35      7.16    21.97    96.21      0.00         5.44      42.99         77.47     48.15
$275,001 to $300,000              25.77      7.97    21.41    91.28      0.64         1.90      43.66         76.71     39.90
$300,001 to $325,000              28.16      3.04    16.79    92.41      0.00         2.28      44.47         79.33     29.77
$325,001 to $350,000              34.08      5.48    23.93    93.61      0.00         0.89      43.13         76.18     30.28
$350,001 to $375,000              20.40      3.79    38.51    88.46      0.00         3.86      43.25         74.33     34.47
$375,001 to $400,000              17.41     10.48    31.38    94.15      0.00         1.19      43.85         75.75     26.65
$400,001 to $450,000              28.55      6.43    30.29    95.19      0.00         4.88      43.98         81.88     28.59
$450,001 to $500,000              25.77      4.09    36.24    95.82      0.00         5.25      43.85         79.47     30.71
$500,001 to $600,000              31.04      3.39    35.39    89.88      0.00         4.44      43.16         78.63     32.53
$600,001 to $700,000              32.05      5.84    40.83    97.04      0.00         3.14      42.48         76.26     32.80
$700,001 to $800,000              42.19      5.30    11.00   100.00      0.00         0.00      42.90         69.35     26.23
$800,001 to $900,000              50.16      0.00    50.16   100.00      0.00         0.00      37.07          0.00    100.00
$900,001 to $1,000,000            33.20      0.00    33.59   100.00      0.00         0.00      42.20         33.20     66.41
$1,000,001 or greater
                                  -----     -----    -----   ------     -----         ----      -----         -----    ------
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====   ======     =====         ====      =====         =====    ======


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
OUTSTANDING PRINCIPAL BALANCE  STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-----------------------------  ----------  -------  -------  ---------  --------  ----------

$50,000 or less                     55.10     0.00     0.00      92.24      0.98        6.78
$50,001 to $75,000                  47.75     0.00     0.00      87.53      1.10       11.36
$75,001 to $100,000                 43.45     0.00     0.00      88.96      0.25       10.79
$100,001 to $125,000                37.91     0.00     0.00      90.84      0.88        8.29
$125,001 to $150,000                45.14     0.00     0.00      93.71      1.02        5.28
$150,001 to $175,000                42.32     0.00     0.00      90.81      1.91        7.28
$175,001 to $200,000                52.20     0.00     0.00      90.96      2.05        6.99
$200,001 to $225,000                54.72     0.00     0.00      91.88      1.39        6.73
$225,001 to $250,000                56.89     0.00     0.00      92.47      1.67        5.86
$250,001 to $275,000                47.43     0.00     0.00      94.54      1.10        4.36
$275,001 to $300,000                57.65     0.00     0.00      97.58      0.00        2.42
$300,001 to $325,000                66.35     0.00     0.00      93.83      1.52        4.64
$325,001 to $350,000                63.32     0.00     0.00      90.74      1.85        7.41
$350,001 to $375,000                60.36     0.00     0.00      93.61      3.83        2.57
$375,001 to $400,000                69.87     0.00     0.00      91.92      2.30        5.79
$400,001 to $450,000                65.62     0.00     0.00      97.56      0.00        2.44
$450,001 to $500,000                62.06     0.00     0.00      92.81      0.00        7.19
$500,001 to $600,000                58.57     0.00     0.00      96.48      2.32        1.20
$600,001 to $700,000                67.20     0.00     0.00      90.92      2.80        6.28
$700,001 to $800,000                68.70     0.00     0.00      78.72      5.30       15.98
$800,001 to $900,000                 0.00     0.00     0.00      50.16     49.84        0.00
$900,001 to $1,000,000              33.59     0.00     0.00     100.00      0.00        0.00
$1,000,001 or greater
                                    -----     ----     ----     ------     -----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======     =====       =====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
PRODUCT TYPE                   OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-----------------------------  --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

2/28 ARM - Non-IO                 1,203  227,698,737.74        27.27       8.687   614   189,275.76        79.02        79.02
3/27 ARM - Non-IO                   488   77,786,207.66         9.32       8.903   592   159,397.97        78.83        78.83
5/25 ARM - Non-IO                    12    1,990,883.71         0.24       8.472   631   165,906.98        76.09        76.09
2/38/40 ARM - Non-IO
2/38/30 ARM - Non-IO
3/37/40 ARM - Non-IO
3/37/30 ARM - Non-IO
Other ARM - Non-IO                    5    1,484,189.78         0.18       7.393   620   296,837.96        79.01        79.01
2/28 ARM - IO                       424  132,706,238.28        15.89       7.778   658   312,986.41        80.76        80.76
3/27 ARM - IO                        85   23,093,943.82         2.77       7.774   665   271,693.46        80.55        80.55
5/25 ARM - IO                         7    1,895,839.00         0.23       7.240   676   270,834.14        77.91        77.91
2/38/40 ARM - IO
2/38/30 ARM - IO
3/37/40 ARM - IO
3/37/30 ARM - IO
Other ARM - IO
Fixed 5 YR
Fixed 10 YR                           7      496,311.23         0.06       8.252   631    70,901.60        64.85        64.85
Fixed 15 YR                          23    1,940,686.21         0.23       8.448   634    84,377.66        69.52        69.52
Fixed 20 YR                          24    1,990,559.09         0.24       8.449   634    82,939.96        75.91        75.91
Fixed 25 YR                           3      245,515.20         0.03       8.559   622    81,838.40        84.90        84.90
Fixed 30 YR                         489   62,069,626.83         7.43       8.684   620   126,931.75        78.47        78.47
Fixed 40 YR
Fixed 30/15 Balloon                 354   23,914,669.87         2.86      11.437   657    67,555.56        99.11        99.11
Fixed 40/30 Balloon                  67   14,725,318.60         1.76       7.933   627   219,780.87        78.80        78.80
Fixed IO                             15    4,811,984.77         0.58       7.474   655   320,798.98        77.31        77.31
Other Fixed                       1,001  258,083,589.37        30.91       8.267   624   257,825.76        80.10        80.10
                                  -----  --------------       ------      ------   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======      ======   ===   ==========        =====        =====


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTSW/      WA        PERCENT     PERCENT
PRODUCT TYPE                   OLTV >80  OLTV >90    IO       ARMS   2ND LIEN   2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
------------                   --------  --------  -------  -------  --------  -------------  ---------  ------------  --------

2/28 ARM - Non-IO                 31.61      6.75     0.00   100.00      0.00           2.51      42.07         70.62     39.42
3/27 ARM - Non-IO                 32.64      5.89     0.00   100.00      0.00           2.21      42.71         72.20     51.23
5/25 ARM - Non-IO                 24.62      0.00     0.00   100.00      0.00           0.00      42.15         72.99     17.81
2/38/40 ARM - Non-IO
2/38/30 ARM - Non-IO
3/37/40 ARM - Non-IO
3/37/30 ARM - Non-IO
Other ARM - Non-IO                18.09      0.00     0.00   100.00      0.00           0.00      48.89        100.00      9.13
2/28 ARM - IO                     22.97      3.97   100.00   100.00      0.00           6.14      43.34         75.52     37.14
3/27 ARM - IO                     22.74      4.26   100.00   100.00      0.00           4.84      43.21         82.23     32.89
5/25 ARM - IO                     26.19     11.50   100.00   100.00      0.00           0.00      42.51         51.87     73.63
2/38/40 ARM - IO
2/38/30 ARM - IO
3/37/40 ARM - IO
3/37/30 ARM - IO
Other ARM - IO
Fixed 5 YR
Fixed 10 YR                        0.00      0.00     0.00     0.00      0.00           0.00      41.82         78.73     43.02
Fixed 15 YR                       29.52      9.69     0.00     0.00      9.69           0.00      39.55         52.69     73.39
Fixed 20 YR                       34.02     15.33     0.00     0.00      6.99           0.00      42.81         65.55     45.19
Fixed 25 YR                       79.78     29.34     0.00     0.00      0.00           0.00      41.39        100.00     79.78
Fixed 30 YR                       41.59     14.18     0.00     0.00      8.33           0.58      40.85         61.65     56.68
Fixed 40 YR
Fixed 30/15 Balloon               97.75     97.12     0.00     0.00     99.00           0.00      43.93         81.01     22.83
Fixed 40/30 Balloon               42.46     12.23     0.00     0.00      0.00           3.85      42.76         76.32     64.70
Fixed IO                           9.87      0.00   100.00     0.00      0.00           0.00      41.74         65.94     46.70
Other Fixed                       27.83      6.50     0.00   100.00      0.00           2.93      43.48         75.61     38.33
                                  -----     -----   ------   ------     -----           ----      -----        ------     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49           3.02      42.79         73.09     41.02
                                  =====     =====   ======   ======     =====           ====      =====        ======     =====


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
PRODUCT TYPE                   STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
------------                   ----------  -------  -------  ---------  --------  ----------

2/28 ARM - Non-IO                   55.78     0.00     0.00      85.20      2.70       12.10
3/27 ARM - Non-IO                   46.24     0.00     0.00      95.00      0.56        4.44
5/25 ARM - Non-IO                   82.19     0.00     0.00      75.77      0.00       24.23
2/38/40 ARM - Non-IO
2/38/30 ARM - Non-IO
3/37/40 ARM - Non-IO
3/37/30 ARM - Non-IO
Other ARM - Non-IO                  90.87     0.00     0.00     100.00      0.00        0.00
2/28 ARM - IO                       56.27     0.00     0.00      98.25      1.26        0.49
3/27 ARM - IO                       64.93     0.00     0.00      95.90      0.57        3.53
5/25 ARM - IO                       26.37     0.00     0.00     100.00      0.00        0.00
2/38/40 ARM - IO
2/38/30 ARM - IO
3/37/40 ARM - IO
3/37/30 ARM - IO
Other ARM - IO
Fixed 5 YR
Fixed 10 YR                         40.54     0.00     0.00      83.56      0.00       16.44
Fixed 15 YR                         25.38     0.00     0.00      97.36      0.00        2.64
Fixed 20 YR                         54.81     0.00     0.00     100.00      0.00        0.00
Fixed 25 YR                         20.22     0.00     0.00     100.00      0.00        0.00
Fixed 30 YR                         39.33     0.00     0.00      91.71      0.31        7.97
Fixed 40 YR
Fixed 30/15 Balloon                 69.88     0.00     0.00      99.43      0.43        0.14
Fixed 40/30 Balloon                 29.89     0.00     0.00      98.93      0.00        1.07
Fixed IO                            53.30     0.00     0.00      93.47      0.00        6.53
Other Fixed                         58.29     0.00     0.00      94.15      1.54        4.31
                                    -----     ----     ----     ------      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======      ====       =====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
IO TERM (YEARS)                OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
---------------                --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

 2                                    2      431,400.00         0.05       7.225   606   215,700.00        79.45        79.45
 3                                    3      639,500.00         0.08       7.938   631   213,166.67        77.28        77.28
 5                                  521  160,349,980.87        19.21       7.764   659   307,773.48        80.61        80.61
10                                    5    1,087,125.00         0.13       7.638   643   217,425.00        81.43        81.43
Other IO Term
Non IO                            3,676  672,426,295.29        80.54       8.626   618   182,923.37        80.02        80.02
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA          WA        PERCENT
IO TERM (YEARS)                OLTV >80  OLTV >90    IO       ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
---------------                --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

 2                                 0.00      0.00   100.00   100.00      0.00            0.00      29.07          0.00     51.23
 3                                 0.00      0.00   100.00   100.00      0.00            0.00      39.93         69.43     35.65
 5                                22.79      4.04   100.00    97.21      0.00            5.78      43.32         76.38     37.04
10                                14.48      0.00   100.00    69.55      0.00            0.00      41.93         40.12     62.10
Other IO Term
Non IO                            33.73     10.58     0.00    84.33      4.34            2.37      42.67         72.40     41.93
                                  -----     -----   ------   ------      ----            ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49            3.02      42.79         73.09     41.02
                                  =====     =====   ======   ======      ====            ====      =====         =====     =====


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
IO TERM (YEARS)                STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
---------------                ----------  -------  -------  ---------  --------  ----------

 2                                  48.77     0.00     0.00     100.00      0.00        0.00
 3                                  64.35     0.00     0.00     100.00      0.00        0.00
 5                                  57.19     0.00     0.00      97.88      1.01        1.11
10                                  37.90     0.00     0.00      82.83     17.17        0.00
Other Io Term
Non IO                              54.10     0.00     0.00      91.27      1.62        7.12
                                    -----     ----     ----      -----      ----        ----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====        ====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
GEOGRAPHIC DISTRIBUTION        OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-----------------------        --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

CA                                  915  271,051,189.84        32.46       8.166   641   296,230.81        80.11        80.11
FL                                  666  119,157,018.56        14.27       8.545   622   178,914.44        79.54        79.54
IL                                  323   57,253,943.39         6.86       8.729   622   177,256.79        81.62        81.62
TX                                  267   26,645,529.27         3.19       8.714   615    99,795.99        81.65        81.65
AZ                                  175   31,983,040.45         3.83       8.512   612   182,760.23        78.87        78.87
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            2,346  506,090,721.51       100.00       8.370   631   215,724.95        80.15        80.15
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA        PERCENT     PERCENT
GEOGRAPHIC DISTRIBUTION        OLTV >80  OLTV >90    IO       ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
-----------------------        --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

CA                                28.30      9.52    32.79    90.24      5.54            4.70      43.43         76.05     30.43
FL                                31.03      9.89    16.12    87.74      3.91            2.81      42.90         73.55     37.77
IL                                38.20      8.55     7.46    87.52      3.05            2.62      43.86         79.99     36.71
TX                                28.12     11.76     2.93    60.34      3.76            4.19      40.49         58.73     53.30
AZ                                26.11      4.31    23.99    92.51      1.90            2.01      42.12         71.38     39.29
                                  -----     -----    -----    -----      ----            ----      -----         -----     -----
TOTAL:                            29.92      9.29    23.87    87.91      4.55            3.82      43.12         74.70     34.63
                                  =====     =====    =====    =====      ====            ====      =====         =====     =====


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
GEOGRAPHIC DISTRIBUTION        STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-----------------------        ----------  -------  -------  ---------  --------  ----------

CA                                  64.17     0.00     0.00      93.29      0.73        5.98
FL                                  59.39     0.00     0.00      89.69      3.20        7.11
IL                                  57.67     0.00     0.00      91.99      0.00        8.01
TX                                  43.06     0.00     0.00      91.46      2.97        5.58
AZ                                  55.48     0.00     0.00      97.52      0.65        1.83
                                    -----     ----     ----      -----      ----        ----
TOTAL:                              60.65     0.00     0.00      92.47      1.34        6.19
                                    =====     ====     ====      =====      ====        ====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
ORIGINAL LTV(1)                OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
---------------                --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

50.00% or less                      593   49,740,388.45         5.96      10.087   633    83,879.24        75.32        75.32
50.01% to 55.00%                     53    9,792,664.38         1.17       8.349   581   184,767.25        52.87        52.87
55.01% to 60.00%                     72   11,824,392.72         1.42       7.977   593   164,227.68        57.94        57.94
60.01% to 65.00%                    122   23,050,855.01         2.76       8.603   574   188,941.43        63.37        63.37
65.01% to 70.00%                    192   37,536,121.93         4.50       8.710   581   195,500.64        68.87        68.87
70.01% to 75.00%                    287   59,783,894.63         7.16       8.470   579   208,306.25        73.96        73.96
75.01% to 80.00%                  1,759  408,554,736.57        48.93       8.082   643   232,265.34        79.84        79.84
80.01% to 85.00%                    437   87,800,198.45        10.52       8.668   606   200,915.79        84.51        84.51
85.01% to 90.00%                    446   97,982,612.34        11.74       8.680   627   219,691.96        89.55        89.55
90.01% to 95.00%                    181   38,622,813.68         4.63       8.933   643   213,385.71        94.64        94.64
95.01% to 100.00%                    65   10,245,623.00         1.23       9.193   642   157,624.97        99.53        99.53
100.01% to 105.00%
105.01% to 110.00%
110.01% to 115.00%
115.01% to 120.00%
120.01% to 125.00%
                                  -----  --------------       ------      ------   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======      ======   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
ORIGINAL LTV(1)                OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
---------------                --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

50.00% or less                    58.05     57.75     2.65    29.29     58.65         0.00      42.13         69.45     33.67
50.01% to 55.00%                   0.00      0.00    13.30    90.91      0.00         0.00      40.96         57.86     52.98
55.01% to 60.00%                   0.00      0.00     5.84    72.68      0.00         0.00      41.92         72.77     52.23
60.01% to 65.00%                   0.00      0.00     7.61    87.01      0.00         0.00      40.86         62.81     45.59
65.01% to 70.00%                   0.00      0.00     6.79    82.75      0.00         0.00      42.02         65.42     43.85
70.01% to 75.00%                   0.00      0.00     7.90    87.46      0.00         0.00      42.34         69.24     52.12
75.01% to 80.00%                   0.00      0.00    27.77    93.77      0.00         6.10      43.26         76.61     33.71
80.01% to 85.00%                 100.00      0.00    14.31    86.37      0.00         0.00      42.14         70.07     47.64
85.01% to 90.00%                 100.00      0.00    18.02    88.93      0.00         0.27      42.99         70.87     46.95
90.01% to 95.00%                 100.00    100.00    15.91    90.85      0.00         0.00      42.80         75.49     59.93
95.01% to 100.00%                100.00    100.00     3.22    79.12      0.00         0.00      42.91         76.95     73.45
100.01% to 105.00%
105.01% to 110.00%
110.01% to 115.00%
115.01% to 120.00%
120.01% to 125.00%
                                 ------    ------    -----    -----     -----         ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                 ======    ======    =====    =====     =====         ====      =====         =====     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
ORIGINAL LTV(1)                STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
---------------                ----------  -------  -------  ---------  --------  ----------

50.00% or less                      61.57     0.00     0.00      96.31      0.30        3.39
50.01% to 55.00%                    47.02     0.00     0.00      80.96      1.56       17.49
55.01% to 60.00%                    47.77     0.00     0.00      97.10      1.25        1.65
60.01% to 65.00%                    48.98     0.00     0.00      92.35      0.66        6.98
65.01% to 70.00%                    52.00     0.00     0.00      92.17      0.00        7.83
70.01% to 75.00%                    43.90     0.00     0.00      95.57      1.02        3.41
75.01% to 80.00%                    62.14     0.00     0.00      95.89      1.84        2.27
80.01% to 85.00%                    47.18     0.00     0.00      87.74      0.72       11.54
85.01% to 90.00%                    47.97     0.00     0.00      85.74      1.21       13.05
90.01% to 95.00%                    36.34     0.00     0.00      76.46      4.74       18.80
95.01% to 100.00%                   21.95     0.00     0.00      97.18      2.82        0.00
100.01% to 105.00%
105.01% to 110.00%
110.01% to 115.00%
115.01% to 120.00%
120.01% to 125.00%
                                    -----     ----     ----      -----      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====       =====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
ORIGINAL CLTV(2)               OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
----------------               --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

50.00% or less                      133   20,566,599.52         2.46       8.107   598   154,636.09        40.99        40.99
50.01% to 55.00%                     53    9,792,664.38         1.17       8.349   581   184,767.25        52.87        52.87
55.01% to 60.00%                     72   11,824,392.72         1.42       7.977   593   164,227.68        57.94        57.94
60.01% to 65.00%                    122   23,050,855.01         2.76       8.603   574   188,941.43        63.37        63.37
65.01% to 70.00%                    192   37,536,121.93         4.50       8.710   581   195,500.64        68.87        68.87
70.01% to 75.00%                    288   60,082,262.23         7.20       8.471   580   208,618.97        73.95        73.95
75.01% to 80.00%                  1,759  408,554,736.57        48.93       8.082   643   232,265.34        79.84        79.84
80.01% to 85.00%                    437   87,800,198.45        10.52       8.668   606   200,915.79        84.51        84.51
85.01% to 90.00%                    449   98,133,687.14        11.75       8.684   627   218,560.55        89.55        89.55
90.01% to 95.00%                    194   39,254,352.82         4.70       8.969   643   202,342.02        94.65        94.65
95.01% to 100.00%                   508   38,338,430.39         4.59      10.898   652    75,469.35        99.87        99.87
100.01% to 105.00%
105.01% to 110.00%
110.01% to 115.00%
115.01% to 120.00%
120.01% to 125.00%
                                  -----  --------------       ------      ------   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======      ======   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
ORIGINAL CLTV(2)               OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
----------------               --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

50.00% or less                     0.00      0.00     6.42    70.84      0.00         0.00      39.87         55.75     49.13
50.01% to 55.00%                   0.00      0.00    13.30    90.91      0.00         0.00      40.96         57.86     52.98
55.01% to 60.00%                   0.00      0.00     5.84    72.68      0.00         0.00      41.92         72.77     52.23
60.01% to 65.00%                   0.00      0.00     7.61    87.01      0.00         0.00      40.86         62.81     45.59
65.01% to 70.00%                   0.00      0.00     6.79    82.75      0.00         0.00      42.02         65.42     43.85
70.01% to 75.00%                   0.00      0.00     7.86    87.02      0.50         0.00      42.35         69.39     52.36
75.01% to 80.00%                   0.00      0.00    27.77    93.77      0.00         6.10      43.26         76.61     33.71
80.01% to 85.00%                 100.00      0.00    14.31    86.37      0.00         0.00      42.14         70.07     47.64
85.01% to 90.00%                 100.00      0.00    17.99    88.79      0.15         0.27      43.00         70.87     46.88
90.01% to 95.00%                 100.00    100.00    15.66    89.39      1.61         0.00      42.79         75.54     59.42
95.01% to 100.00%                100.00    100.00     0.86    21.14     73.28         0.00      43.50         78.42     35.71
100.01% to 105.00%
105.01% to 110.00%
110.01% to 115.00%
115.01% to 120.00%
120.01% to 125.00%
                                 ------    ------    -----    -----     -----         ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                 ======    ======    =====    =====     =====         ====      =====         =====     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
ORIGINAL CLTV(2)               STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
----------------               ----------  -------  -------  ---------  --------  ----------

50.00% or less                      48.85     0.00     0.00      91.96      0.00        8.04
50.01% to 55.00%                    47.02     0.00     0.00      80.96      1.56       17.49
55.01% to 60.00%                    47.77     0.00     0.00      97.10      1.25        1.65
60.01% to 65.00%                    48.98     0.00     0.00      92.35      0.66        6.98
65.01% to 70.00%                    52.00     0.00     0.00      92.17      0.00        7.83
70.01% to 75.00%                    43.68     0.00     0.00      95.60      1.01        3.39
75.01% to 80.00%                    62.14     0.00     0.00      95.89      1.84        2.27
80.01% to 85.00%                    47.18     0.00     0.00      87.74      0.72       11.54
85.01% to 90.00%                    48.05     0.00     0.00      85.72      1.21       13.06
90.01% to 95.00%                    36.91     0.00     0.00      76.58      4.92       18.50
95.01% to 100.00%                   57.96     0.00     0.00      99.13      0.87        0.00
100.01% to 105.00%
105.01% to 110.00%
110.01% to 115.00%
115.01% to 120.00%
120.01% to 125.00%
                                    -----     ----     ----      -----      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====       =====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
DEBT-TO-INCOME RATIO(3)        OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-----------------------        --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

0.00% to 5.00%                       21    4,516,454.86         0.54       8.406   675   215,069.28        77.33        77.33
5.01% to 10.00%                      11    1,640,155.81         0.20       8.365   593   149,105.07        74.42        74.42
10.01% to 15.00%                     24    4,053,408.45         0.49       8.159   633   168,892.02        78.68        78.68
15.01% to 20.00%                     50    6,891,373.19         0.83       8.503   597   137,827.46        73.59        73.59
20.01% to 25.00%                    111   16,047,340.10         1.92       8.724   602   144,570.63        80.30        80.30
25.01% to 30.00%                    192   31,652,725.51         3.79       8.507   625   164,857.95        79.32        79.32
30.01% to 35.00%                    319   55,348,836.09         6.63       8.476   615   173,507.32        77.42        77.42
35.01% to 40.00%                    574  104,558,477.41        12.52       8.412   623   182,157.63        79.73        79.73
40.01% to 45.00%                  1,119  232,650,007.86        27.86       8.425   634   207,908.85        80.20        80.20
45.01% to 50.00%                  1,392  295,759,293.23        35.42       8.489   629   212,470.76        81.23        81.23
50.01% to 55.00%                    368   74,787,971.48         8.96       8.473   609   203,228.18        79.41        79.41
55.01% to 60.00%                     26    7,028,257.17         0.84       8.008   625   270,317.58        80.21        80.21
60.01% or greater
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
DEBT-TO-INCOME RATIO(3)        OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
-----------------------        --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

0.00% to 5.00%                    13.34      4.49    13.21    67.32      4.49        11.73       2.00          0.00     14.67
5.01% to 10.00%                   18.36      3.53     0.00    91.09      0.00         0.00       7.70          0.00     40.15
10.01% to 15.00%                  18.61     10.63     0.00    67.68      0.00         0.00      12.47          0.00     73.61
15.01% to 20.00%                  19.80      9.33     7.18    90.01      1.19         0.00      18.00          0.00     56.90
20.01% to 25.00%                  49.50     13.02    14.22    79.14      2.45         3.16      22.73          0.00     61.53
25.01% to 30.00%                  33.67     11.69    14.03    82.50      2.32         2.40      27.89          0.00     60.08
30.01% to 35.00%                  33.25      5.72    16.09    86.88      1.92         1.32      32.76          0.00     46.45
35.01% to 40.00%                  31.29      7.26    21.45    85.26      3.46         2.33      37.74          0.00     46.77
40.01% to 45.00%                  30.50      9.00    21.85    87.16      3.70         3.22      42.78        100.00     31.49
45.01% to 50.00%                  31.99     10.77    21.14    88.04      4.17         3.94      47.69        100.00     36.31
50.01% to 55.00%                  32.06      8.95    12.53    87.54      2.52         1.19      52.26        100.00     60.99
55.01% to 60.00%                  17.42      3.36     9.11    93.57      3.36         2.78      57.78        100.00     63.33
60.01% or greater
                                  -----     -----    -----    -----      ----        -----      -----        ------     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====      ====        =====      =====        ======     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
DEBT-TO-INCOME RATIO(3)        STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-----------------------        ----------  -------  -------  ---------  --------  ----------

0.00% to 5.00%                      79.35     0.00     0.00      96.50      0.00        3.50
5.01% to 10.00%                     21.40     0.00     0.00      90.81      0.00        9.19
10.01% to 15.00%                    11.83     0.00     0.00      74.32      2.19       23.49
15.01% to 20.00%                    30.15     0.00     0.00      77.70      0.00       22.30
20.01% to 25.00%                    31.12     0.00     0.00      80.62      0.37       19.01
25.01% to 30.00%                    34.14     0.00     0.00      87.09      3.87        9.03
30.01% to 35.00%                    45.26     0.00     0.00      90.47      0.64        8.89
35.01% to 40.00%                    49.16     0.00     0.00      91.58      1.90        6.51
40.01% to 45.00%                    65.36     0.00     0.00      95.26      0.60        4.14
45.01% to 50.00%                    59.67     0.00     0.00      93.55      1.87        4.58
50.01% to 55.00%                    35.78     0.00     0.00      89.87      2.57        7.56
55.01% to 60.00%                    35.14     0.00     0.00      92.97      1.65        5.38
60.01% or greater
                                    -----     ----     ----      -----      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====       =====






                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
LIEN                           OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
----                           --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

First                             3,747  805,760,512.23        96.51       8.349   625   215,041.50        79.43        79.43
Second                              460   29,173,788.93         3.49      11.483   657    63,421.28        99.52        99.52
                                  -----  --------------       ------      ------   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======      ======   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
LIEN                           OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
----                           --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

First                             29.12      6.06    20.17    89.94      0.00         3.13      42.75         72.87     41.68
Second                            98.98     98.46     0.00     0.00    100.00         0.00      43.71         79.11     22.77
                                  -----     -----    -----    -----    ------         ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====    ======         ====      =====         =====     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
LIEN                           STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
----                           ----------  -------  -------  ---------  --------  ----------

First                               54.10     0.00     0.00      92.29      1.55        6.16
Second                              70.54     0.00     0.00      99.38      0.50        0.12
                                    -----     ----     ----      -----      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====       =====





SUBORDINATE LOAN DESCRIPTION    NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
- FIRST LIEN ONLY              OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
----------------------------   --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

Second behind first - in pool       104   25,196,978.14         3.13       7.821   663   242,278.64        80.09        80.09
Second behind first - not in
   pool                           1,217  289,707,200.16        35.95       8.011   658   238,050.29        80.13        80.13
No second behind first            2,426  490,856,333.93        60.92       8.575   604   202,331.55        78.98        78.98
Unknown
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            3,747  805,760,512.23       100.00       8.349   625   215,041.50        79.43        79.43
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                                                                   % OF
SUBORDINATE LOAN DESCRIPTION    PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
- FIRST LIEN ONLY              OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
----------------------------   --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

Second behind first - in pool      1.06      0.00    36.78    96.33      0.00       100.00      43.07         80.30     19.87
Second behind first - not in
   pool                            4.05      0.35    33.01    96.66      0.00         0.00      43.90         80.84     32.04
No second behind first            45.36      9.75    11.73    85.65      0.00         0.00      42.06         67.78     48.48
Unknown
                                  -----      ----    -----    -----      ----       ------      -----         -----     -----
TOTAL:                            29.12      6.06    20.17    89.94      0.00         3.13      42.75         72.87     41.68
                                  =====      ====    =====    =====      ====       ======      =====         =====     =====



SUBORDINATE LOAN DESCRIPTION     PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
- FIRST LIEN ONLY              STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
----------------------------   ----------  -------  -------  ---------  --------  ----------

Second behind first - in pool       74.02     0.00     0.00     100.00      0.00        0.00
Second behind first - not in
   pool                             63.63     0.00     0.00      97.54      1.78        0.68
No second behind first              47.45     0.00     0.00      88.79      1.50        9.71
Unknown
                                    -----     ----     ----     ------      ----        ----
TOTAL:                              54.10     0.00     0.00      92.29      1.55        6.16
                                    =====     ====     ====     ======      ====        ====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
LOAN PURPOSE                   OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
------------                   --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

Purchase                          1,871  357,138,841.16        42.77       8.464   656   190,881.26        82.85        82.85
Refinance - Cashout               2,110  437,916,029.78        52.45       8.465   603   207,543.14        77.84        77.84
Refinance - Rate/Term               226   39,879,430.22         4.78       8.331   614   176,457.66        80.94        80.94
Other
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
LOAN PURPOSE                   OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
------------                   --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

Purchase                          23.60     12.68    26.62    90.02      7.17         6.73      43.36         77.50     29.88
Refinance - Cashout               36.55      6.13    14.25    85.34      0.76         0.23      42.40         70.00     48.31
Refinance - Rate/Term             48.08     13.70    12.58    73.95      0.51         0.44      41.84         67.51     60.70
Other
                                  -----     -----    -----    -----      ----         ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====      ====         ====      =====         =====     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
LOAN PURPOSE                   STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
------------                   ----------  -------  -------  ---------  --------  ----------

Purchase                            65.49     0.00     0.00      91.51      2.47        6.02
Refinance - Cashout                 47.69     0.00     0.00      93.28      0.88        5.84
Refinance - Rate/Term               34.53     0.00     0.00      93.51      0.00        6.49
Other
                                    -----     ----     ----      -----      ----        ----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====        ====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
PROPERTY TYPE                  OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-------------                  --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

Single Family                     3,358  640,465,570.39        76.71       8.460   622   190,728.28        80.32        80.32
Two-to-Four Family                  300   78,056,396.73         9.35       8.502   645   260,187.99        78.31        78.31
Five-to-Eight Family
Condo                               270   52,023,168.45         6.23       8.519   641   192,678.40        80.96        80.96
Row Home
Townhouse                            63   11,308,545.36         1.35       8.498   621   179,500.72        79.03        79.03
Planned Unit Development            216   53,080,620.23         6.36       8.308   628   245,743.61        80.00        80.00
Manufactured Housing
Other
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
PROPERTY TYPE                  OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
-------------                  --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

Single Family                     32.93      9.80    18.81    86.23      3.48         2.82      42.85         73.08     42.06
Two-to-Four Family                28.80      6.38    16.92    84.29      3.57         2.32      42.95         76.96     31.73
Five-to-Eight Family
Condo                             26.92      8.16    26.09    91.66      4.30         7.56      42.52         72.02     38.86
Row Home
Townhouse                         24.00      7.25    25.15    91.04      3.09         4.45      43.47         76.86     48.95
Planned Unit Development          25.34      9.04    23.41    91.78      2.86         1.67      41.86         67.73     42.50
Manufactured Housing
Other
                                  -----      ----    -----    -----      ----         ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====      ====    =====    =====      ====         ====      =====         =====     =====


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
PROPERTY TYPE                  STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-------------                  ----------  -------  -------  ---------  --------  ----------

Single Family                       53.62     0.00     0.00      94.30      1.15        4.55
Two-to-Four Family                  65.33     0.00     0.00      79.65      0.69       19.67
Five-to-Eight Family
Condo                               58.07     0.00     0.00      88.06      5.51        6.43
Row Home
Townhouse                           48.26     0.00     0.00      94.99      0.00        5.01
Planned Unit Development            49.76     0.00     0.00      94.08      3.59        2.33
Manufactured Housing
Other
                                    -----     ----     ----      -----      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====       =====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
DOCUMENTATION                  OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-------------                  --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

Full                              1,897  342,451,104.45        41.02       8.246   607   180,522.46        80.02        80.02
Stated Income - Wage Earner
   (Assets Verified)              1,422  282,189,621.73        33.80       8.614   645   198,445.58        80.21        80.21
Stated Income - Self-Employed
   (Assets Verified)                715  174,311,816.55        20.88       8.657   633   243,792.75        79.86        79.86
SISA (Stated Income/Stated
   Assets)
NINA (No Income/No Asset Info
   Provided)
Other                               173   35,981,758.43         4.31       8.300   619   207,987.04        81.92        81.92
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
DOCUMENTATION                  OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
-------------                  --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

Full                              36.46     10.81    17.67    83.90      1.94         1.46      42.19         67.37    100.00
Stated Income - Wage Earner
   (Assets Verified)              25.81      7.31    19.59    88.20      4.61         4.41      44.21         82.50      0.00
Stated Income - Self-Employed
   (Assets Verified)              30.09      9.22    21.49    90.46      4.34         3.56      42.33         71.69      0.00
SISA (Stated Income/Stated
   Assets)
NINA (No Income/No Asset Info
   Provided)
Other                             37.21     10.75    25.71    85.76      5.43         4.28      39.66         60.44      0.00
                                  -----     -----    -----    -----      ----         ----      -----         -----    ------
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====      ====         ====      =====         =====    ======



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
DOCUMENTATION                  STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-------------                  ----------  -------  -------  ---------  --------  ----------

Full                                 0.00     0.00     0.00      93.63      1.28        5.09
Stated Income - Wage Earner
   (Assets Verified)               100.00     0.00     0.00      94.17      1.11        4.72
Stated Income - Self-Employed
   (Assets Verified)               100.00     0.00     0.00      88.56      2.95        8.48
SISA (Stated Income/Stated
   Assets)
NINA (No Income/No Asset Info
   Provided)
Other                                0.00     0.00     0.00      88.61      0.00       11.39
                                   ------     ----     ----      -----      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                   ======     ====     ====      =====      ====       =====





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
OCCUPANCY                      OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
---------                      --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

Owner Occupied                    3,860  772,614,335.34        92.54       8.414   624   200,159.15        79.97        79.97
Second Home                          53   12,666,711.78         1.52       8.902   652   238,994.56        82.77        82.77
Investment                          294   49,653,254.04         5.95       9.026   652   168,888.62        81.90        81.90
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
OCCUPANCY                      OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
---------                      --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

Owner Occupied                    29.67      8.81    20.57    86.50      3.75         3.26      42.96         74.04     41.50
Second Home                       32.30     17.89    14.23    97.66      1.16         0.00      43.72         70.63     34.62
Investment                        60.84     14.62     3.59    88.75      0.07         0.00      39.87         58.85     35.11
                                  -----     -----    -----    -----      ----         ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====      ====         ====      =====         =====     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
OCCUPANCY                      STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
---------                      ----------  -------  -------  ---------  --------  ----------

Owner Occupied                      54.37     0.00     0.00     100.00      0.00        0.00
Second Home                         65.38     0.00     0.00       0.00    100.00        0.00
Investment                          56.63     0.00     0.00       0.00      0.00      100.00
                                    -----     ----     ----     ------    ------      ------
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======    ======      ======





                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
ORIGINAL TERM (MONTHS)         OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
----------------------         --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

60 to 120                             7      496,311.23         0.06       8.252   631    70,901.60        64.85        64.85
121 to 180                          377   25,855,356.08         3.10      11.213   656    68,581.85        96.89        96.89
181 to 240                           24    1,990,559.09         0.24       8.449   634    82,939.96        75.91        75.91
241 to 300                            3      245,515.20         0.03       8.559   622    81,838.40        84.90        84.90
301 to 360                        3,796  806,346,559.56        96.58       8.370   625   212,420.06        79.61        79.61
361 to 480
                                  -----  --------------       ------      ------   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======      ======   ===   ==========        =====        =====


                                                                                   % OF
                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT   FIRSTS W/       WA        PERCENT     PERCENT
ORIGINAL TERM (MONTHS)         OLTV >80  OLTV >90    IO       ARMS   2ND LIEN  2ND IN POOL  DTI(3)(%)  DTI(3) > 40%  FULL DOC
----------------------         --------  --------  -------  -------  --------  -----------  ---------  ------------  --------

60 to 120                          0.00      0.00     0.00     0.00      0.00         0.00      41.82         78.73     43.02
121 to 180                        92.63     90.56     0.00     0.00     92.30         0.00      43.63         78.89     26.63
181 to 240                        34.02     15.33     0.00     0.00      6.99         0.00      42.81         65.55     45.19
241 to 300                        79.78     29.34     0.00     0.00      0.00         0.00      41.39        100.00     79.78
301 to 360                        29.60      6.67    20.15    89.88      0.64         3.12      42.76         72.91     41.45
361 to 480
                                  -----     -----    -----    -----     -----         ----      -----        ------     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49         3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====     =====         ====      =====        ======     =====



                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
ORIGINAL TERM (MONTHS)         STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
----------------------         ----------  -------  -------  ---------  --------  ----------

60 to 120                           40.54     0.00     0.00      83.56      0.00       16.44
121 to 180                          66.54     0.00     0.00      99.28      0.39        0.33
181 to 240                          54.81     0.00     0.00     100.00      0.00        0.00
241 to 300                          20.22     0.00     0.00     100.00      0.00        0.00
301 to 360                          54.31     0.00     0.00      92.30      1.56        6.14
361 to 480
                                    -----     ----     ----     ------      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======      ====       =====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
SEASONING (MONTHS)             OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
------------------             --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

0                                     2      542,000.00         0.06       8.514   609   271,000.00        75.23        75.23
1 to 3                            2,982  587,157,571.17        70.32       8.457   625   196,900.59        79.90        79.90
4 to 6                            1,039  208,198,776.35        24.94       8.522   626   200,383.81        80.65        80.65
7 to 9                              166   34,737,148.91         4.16       8.213   631   209,259.93        80.80        80.80
10 to 12                             18    4,298,804.73         0.51       7.519   668   238,822.49        81.33        81.33
13 to 24
25 or greater
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/     WA          WA        PERCENT
SEASONING (MONTHS)             OLTV >80  OLTV >90    IO       ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
------------------             --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

0                                  0.00      0.00     0.00   100.00      0.00            0.00      44.86         53.51     46.49
1 to 3                            29.91      8.26    17.97    87.81      2.06            2.92      42.89         73.32     39.97
4 to 6                            36.52     12.36    20.75    83.28      6.97            3.70      42.40         72.76     45.66
7 to 9                            32.36      8.78    33.42    89.96      6.63            0.00      43.18         70.68     34.17
10 to 12                          15.15      7.27    50.98    92.73      5.57            8.47      43.70         79.64     13.51
13 to 24
25 or greater
                                  -----     -----    -----   ------      ----            ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49            3.02      42.79         73.09     41.02
                                  =====     =====    =====   ======      ====            ====      =====         =====     =====


                                PERCENT    PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
SEASONING (MONTHS)             STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
------------------             ----------  -------  -------  ---------  --------  ----------

0                                   53.51    0.00      0.00     100.00      0.00        0.00
1 to 3                              56.11    0.00      0.00      91.66      1.85        6.49
4 to 6                              49.61    0.00      0.00      94.35      0.79        4.87
7 to 9                              56.78    0.00      0.00      95.42      0.56        4.02
10 to 12                            86.49    0.00      0.00     100.00      0.00        0.00
13 to 24
25 or greater
                                    -----    ----      ----      -----      ----        ----
TOTAL:                              54.68    0.00      0.00      92.54      1.52        5.95
                                    =====    ====      ====      =====      ====        ====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
PREPAY PREMIUM TERM(MONTHS)    OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
---------------------------    --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

None                              1,199  216,979,402.64        25.99       8.805   624   180,966.97        80.89        80.89
6                                    15    3,489,710.89         0.42       8.529   639   232,647.39        77.65        77.65
12                                  237   68,168,035.08         8.16       8.285   646   287,628.84        78.59        78.59
24                                1,682  372,728,762.98        44.64       8.235   628   221,598.55        80.10        80.10
36                                1,007  164,152,598.66        19.66       8.550   619   163,011.52        80.08        80.08
60                                   59    7,862,879.93         0.94       8.849   580   133,269.15        76.52        76.52
Other                                 8    1,552,910.98         0.19       9.363   602   194,113.87        78.05        78.05
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA          WA        PERCENT
PREPAY PREMIUM TERM(MONTHS)    OLTV >80  OLTV >90    IO       ARMS   2ND LIEN   2ND IN POOL    DTI(3)(%)  DTI(3) > 40%  FULL DOC
---------------------------    --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

None                              34.93     11.57    14.29    85.72      3.58            1.37      42.82         72.55     42.88
6                                 14.48      0.00    32.86   100.00      0.00            0.00      43.09         77.03     17.14
12                                24.76      3.85    21.84    83.64      1.73            3.86      42.90         76.86     33.11
24                                28.58      7.94    23.92    96.78      2.43            4.19      42.87         73.07     38.86
36                                36.84     12.23    15.54    69.24      6.81            2.41      42.54         72.25     46.34
60                                33.01      0.00     7.73    36.86      0.00            0.00      41.38         70.25     65.01
Other                             48.83     13.51    11.59    60.82      0.00            0.00      46.02         81.81     13.51
                                  -----     -----    -----   ------      ----            ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49            3.02      42.79         73.09     41.02
                                  =====     =====    =====   ======      ====            ====      =====         =====     =====


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
PREPAY PREMIUM TERM(MONTHS)    STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
---------------------------    ----------  -------  -------  ---------  --------  ----------

None                                53.11     0.00     0.00      91.12      2.34        6.54
6                                   82.86     0.00     0.00     100.00      0.00        0.00
12                                  63.14     0.00     0.00      94.01      0.00        5.99
24                                  56.41     0.00     0.00      92.21      1.87        5.92
36                                  49.71     0.00     0.00      94.66      0.25        5.08
60                                  29.38     0.00     0.00      87.72      0.00       12.28
Other                               74.50     0.00     0.00      86.31     13.69        0.00
                                    -----     ----     ----     ------     -----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======     =====       =====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
CREDIT SCORE                   OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
------------                   --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

None
500 or less                          13    1,982,483.00         0.24       9.838   500   152,498.69        72.18        72.18
501 to 525                          283   46,812,637.21         5.61       9.520   513   165,415.68        71.83        71.83
526 to 550                          307   53,224,357.81         6.37       9.286   538   173,369.24        73.50        73.50
551 to 575                          350   63,624,535.15         7.62       8.907   563   181,784.39        77.54        77.54
576 to 600                          475   87,827,158.56        10.52       8.655   589   184,899.28        80.19        80.19
601 to 625                          732  149,278,722.76        17.88       8.350   613   203,932.68        81.36        81.36
626 to 650                          813  158,857,154.36        19.03       8.327   637   195,396.25        81.66        81.66
651 to 675                          548  117,092,099.45        14.02       8.167   662   213,671.71        81.90        81.90
676 to 700                          325   74,252,766.72         8.89       8.019   687   228,470.05        81.32        81.32
701 to 725                          172   37,861,129.23         4.53       8.016   712   220,122.84        82.87        82.87
726 to 750                           99   21,728,446.39         2.60       8.042   737   219,479.26        82.94        82.94
751 to 775                           58   14,175,456.85         1.70       7.992   762   244,404.43        81.64        81.64
776 to 800                           26    7,241,493.84         0.87       7.664   784   278,518.99        80.58        80.58
801 to 825                            6      975,859.83         0.12       7.833   807   162,643.31        86.00        86.00
826 or greater
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA          WA        PERCENT
CREDIT SCORE                   OLTV >80  OLTV >90    IO       ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
------------                   --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

None
500 or less                        3.61      3.61     0.00    96.39      3.61            0.00      43.10         78.36     84.89
501 to 525                        14.05      0.00     0.46    88.42      0.00            0.00      42.49         71.55     67.61
526 to 550                        20.47      0.78     0.00    86.77      0.00            0.00      41.95         64.78     52.16
551 to 575                        37.51      3.09     1.04    90.42      0.19            0.00      42.39         70.92     56.66
576 to 600                        39.08      8.22     5.52    88.62      1.01            0.84      42.59         71.61     54.62
601 to 625                        39.09     10.58    24.19    87.61      3.36            2.27      42.56         69.14     50.32
626 to 650                        33.64     12.60    22.05    85.14      5.53            4.77      43.12         75.64     33.89
651 to 675                        29.91     10.45    29.75    84.61      5.63            6.08      43.36         77.19     25.75
676 to 700                        26.65     10.24    33.50    85.78      4.86            2.55      43.02         76.70     25.14
701 to 725                        28.38     18.29    29.18    87.21      5.00            3.99      42.65         76.27     25.30
726 to 750                        28.06     15.78    30.80    86.46      3.60            4.55      42.98         70.91     26.14
751 to 775                        21.51      9.38    35.10    90.07      3.78            5.90      42.46         79.39     13.75
776 to 800                        13.14      4.94    35.83    79.77      9.06            7.18      42.41         75.43     31.03
801 to 825                        36.06     23.89    63.94    76.11     23.89           63.94      45.68        100.00     12.17
826 or greater
                                  -----     -----    -----    -----     -----           -----      -----        ------     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49            3.02      42.79         73.09     41.02
                                  =====     =====    =====    =====     =====           =====      =====        ======     =====


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
CREDIT SCORE                   STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
------------                   ----------  -------  -------  ---------  --------  ----------

None
500 or less                          8.56     0.00     0.00     100.00      0.00        0.00
501 to 525                          27.63     0.00     0.00      97.93      0.51        1.56
526 to 550                          45.45     0.00     0.00      98.35      0.00        1.65
551 to 575                          37.74     0.00     0.00      96.86      1.02        2.12
576 to 600                          41.36     0.00     0.00      93.72      1.14        5.14
601 to 625                          43.67     0.00     0.00      94.13      1.60        4.27
626 to 650                          61.82     0.00     0.00      91.09      1.41        7.50
651 to 675                          69.55     0.00     0.00      90.40      2.19        7.41
676 to 700                          72.33     0.00     0.00      89.06      0.91       10.03
701 to 725                          70.74     0.00     0.00      88.39      3.52        8.08
726 to 750                          71.51     0.00     0.00      81.33      3.48       15.20
751 to 775                          86.25     0.00     0.00      86.76      4.43        8.81
776 to 800                          68.97     0.00     0.00      95.15      2.79        2.06
801 to 825                          79.86     0.00     0.00     100.00      0.00        0.00
826 or greater
                                    -----     ----     ----     ------      ----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======      ====       =====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
DELINQUENCY STATUS (DAYS)      OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-------------------------      --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

Current (0-29)
30-59
60-89
90+
TOTAL:


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA          WA        PERCENT
DELINQUENCY STATUS (DAYS)      OLTV >80  OLTV >90    IO       ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
-------------------------      --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

Current (0-29)
30-59
60-89
90+
TOTAL:


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
DELINQUENCY STATUS (DAYS)      STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-------------------------      ----------  -------  -------  ---------  --------  ----------

Current (0-29)
30-59
60-89
90+
TOTAL:





INITIAL RATE ADJUSTMENT CAP -   NUMBER                    PERCENT OF      WA       WA     AVERAGE    WA ORIGINAL  WA ORIGINAL
ARMS ONLY                      OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)     LTV(1) (%)   CLTV(2)(%)
-----------------------------  --------  --------------  -----------  ----------  ----  -----------  -----------  -----------

0.000%                              982  110,194,671.80        13.20       9.118   631   112,214.53        82.69        82.69
0.500%
1.000%                                4      977,782.63         0.12       8.117   632   244,445.66        86.17        86.17
1.500%                              536  113,700,175.45        13.62       8.478   621   212,127.19        78.71        78.71
2.000%                              759  191,102,925.81        22.89       8.244   630   251,782.51        79.43        79.43
2.500%
3.000%                            1,922  418,202,620.47        50.09       8.379   624   217,587.21        80.14        80.14
3.500%
4.000%
4.500%
5.000%                                2      477,439.00         0.06       8.188   646   238,719.50        83.29        83.29
Other                                 2      278,686.00         0.03       7.752   645   139,343.00        80.00        80.00
                                  -----  --------------       ------       -----   ---   ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626   198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===   ==========        =====        =====


INITIAL RATE ADJUSTMENT CAP -   PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA          WA        PERCENT
ARMS ONLY                      OLTV >80  OLTV >90    IO       ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
-----------------------------  --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

0.000%                            52.06     31.21     4.37     0.00     26.47            0.84      41.85         68.08     50.05
0.500%
1.000%                            55.43     27.03    24.55   100.00      0.00            0.00      41.66         71.61     51.58
1.500%                            23.25      2.41    16.47   100.00      0.00            0.00      42.35         75.37     38.55
2.000%                            30.69      6.83    23.37   100.00      0.00            0.23      42.28         68.44     49.07
2.500%
3.000%                            28.78      6.49    22.31   100.00      0.00            5.70      43.38         75.94     35.59
3.500%
4.000%
4.500%
5.000%                            32.98      0.00   100.00   100.00      0.00            0.00      44.81         32.98     32.98
Other                              0.00      0.00   100.00   100.00      0.00            0.00      46.13        100.00     66.99
                                  -----     -----   ------   ------     -----            ----      -----        ------     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49            3.02      42.79         73.09     41.02
                                  =====     =====   ======   ======     =====            ====      =====        ======     =====


INITIAL RATE ADJUSTMENT CAP -    PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
ARMS ONLY                      STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-----------------------------  ----------  -------  -------  ---------  --------  ----------

0.000%                              45.30     0.00     0.00      94.66      0.27        5.07
0.500%
1.000%                              48.42     0.00     0.00      79.97      0.00       20.03
1.500%                              57.13     0.00     0.00      91.06      2.83        6.11
2.000%                              48.67     0.00     0.00      89.40      2.95        7.65
2.500%
3.000%                              59.23     0.00     0.00      93.87      0.80        5.33
3.500%
4.000%
4.500%
5.000%                              67.02     0.00     0.00     100.00      0.00        0.00
Other                               33.01     0.00     0.00      33.01     66.99        0.00
                                    -----     ----     ----     ------     -----       -----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====     ======     =====       =====




SUBSEQUENT RATE ADJUSTMENT      NUMBER                    PERCENT OF      WA       WA     AVERAGE   WA ORIGINAL  WA ORIGINAL
CAP - ARMS ONLY                OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)    LTV(1)(%)    CLTV(2)(%)
--------------------------     --------  --------------  -----------  ----------  ----  ----------  -----------  -----------

0.000%                              982  110,194,671.80        13.20       9.118   631  112,214.53        82.69        82.69
0.500%
1.000%                              929  226,572,419.94        27.14       8.360   624  243,888.50        80.12        80.12
1.500%                            2,280  493,139,917.33        59.06       8.360   626  216,289.44        79.62        79.62
2.000%                               16    5,027,292.09         0.60       8.097   646  314,205.76        74.50        74.50
2.500%
3.000%
3.500%
4.000%
4.500%
5.000%
Other
                                  -----  --------------       ------       -----   ---  ----------        -----        -----
TOTAL:                            4,207  834,934,301.16       100.00       8.458   626  198,463.11        80.13        80.13
                                  =====  ==============       ======       =====   ===  ==========        =====        =====


SUBSEQUENT RATE ADJUSTMENT      PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA        PERCENT     PERCENT
CAP - ARMS ONLY                OLTV >80  OLTV >90     IO      ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
--------------------------     --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

0.000%                            52.06     31.21     4.37     0.00     26.47            0.84      41.85         68.08     50.05
0.500%
1.000%                            35.47      8.36    23.19   100.00      0.00            4.61      42.55         71.17     43.55
1.500%                            25.26      4.92    20.86   100.00      0.00            2.80      43.08         75.00     38.12
2.000%                            24.37      0.00    45.43   100.00      0.00            0.00      44.37         81.95     13.06
2.500%
3.000%
3.500%
4.000%
4.500%
5.000%
Other
                                  -----     -----    -----   ------     -----            ----      -----         -----     -----
TOTAL:                            31.56      9.29    19.46    86.80      3.49            3.02      42.79         73.09     41.02
                                  =====     =====    =====   ======     =====            ====      =====         =====     =====


SUBSEQUENT RATE ADJUSTMENT       PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
CAP - ARMS ONLY                STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
--------------------------     ----------  -------  -------  ---------  --------  ----------

0.000%                              45.30     0.00     0.00      94.66      0.27        5.07
0.500%
1.000%                              51.81     0.00     0.00      90.99      1.76        7.25
1.500%                              57.93     0.00     0.00      92.76      1.66        5.58
2.000%                              70.29     0.00     0.00      93.61      3.71        2.68
2.500%
3.000%
3.500%
4.000%
4.500%
5.000%
Other
                                    -----     ----     ----      -----      ----        ----
TOTAL:                              54.68     0.00     0.00      92.54      1.52        5.95
                                    =====     ====     ====      =====      ====        ====




                                NUMBER                    PERCENT OF      WA       WA     AVERAGE   WA ORIGINAL  WA ORIGINAL
FREDDIE EARLY INDICATOR SCORE  OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)    LTV(1)(%)    CLTV(2)(%)
-----------------------------  --------  --------------  -----------  ----------  ----  ----------  -----------  -----------

0 to 5
6 to 10
11 to 15
16 to 20
21 to 25
26 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
61 to 65
66 to 70
71 to 75
76 to 80
81 to 85
85 to 90
91 to 95
96 to 100
TOTAL:


                                PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA        PERCENT     PERCENT
FREDDIE EARLY INDICATOR SCORE  OLTV >80  OLTV >90     IO      ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
-----------------------------  --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

0 to 5
6 to 10
11 to 15
16 to 20
21 to 25
26 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
61 to 65
66 to 70
71 to 75
76 to 80
81 to 85
85 to 90
91 to 95
96 to 100
TOTAL:


                                 PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
FREDDIE EARLY INDICATOR SCORE  STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-----------------------------  ----------  -------  -------  ---------  --------  ----------

0 to 5
6 to 10
11 to 15
16 to 20
21 to 25
26 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
61 to 65
66 to 70
71 to 75
76 to 80
81 to 85
85 to 90
91 to 95
96 to 100
TOTAL:




TOP 5 ORIGINATORS (NOTE         NUMBER                    PERCENT OF      WA       WA     AVERAGE   WA ORIGINAL  WA ORIGINAL
ADDITIONAL COLUMNS)            OF LOANS      UPB ($)     POOL BY UPB  COUPON (%)  FICO    UPB ($)    LTV(1)(%)    CLTV(2)(%)
-----------------------        --------  --------------  -----------  ----------  ----  ----------  -----------  -----------

First NLC                         1,845  325,712,321.22        39.01       8.498   626  176,537.84        80.80        80.80
New Century                         588  137,056,286.26        16.42       8.259   631  233,088.92        80.03        80.03
Accredited                          519  101,528,933.35        12.16       8.489   621  195,624.15        77.27        77.27
Encore                              319   81,834,599.24         9.80       8.270   628  256,534.79        78.88        78.88
Master Financial                    212   49,777,061.20         5.96       8.506   638  234,797.46        83.97        83.97
                                  -----  --------------        -----       -----   ---  ----------        -----        -----
Total:                            3,483  695,909,201.27        83.35       8.423   627  199,801.67        80.13        80.13
                                  =====  ==============        =====       =====   ===  ==========        =====        =====


TOP 5 ORIGINATORS (NOTE         PERCENT   PERCENT  PERCENT  PERCENT   PERCENT  % OF FIRSTS W/      WA        PERCENT     PERCENT
ADDITIONAL COLUMNS)            OLTV >80  OLTV >90     IO      ARMS   2ND LIEN    2ND IN POOL   DTI(3)(%)  DTI(3) > 40%  FULL DOC
-----------------------        --------  --------  -------  -------  --------  --------------  ---------  ------------  --------

First NLC                         30.64      9.98    18.86    85.04      4.93            4.35      43.55         76.25     35.00
New Century                       26.58      8.94    23.04    98.03      0.47            0.00      42.23         69.54     50.74
Accredited                        21.76      0.00    12.89    83.04      0.00            0.00      41.90         74.21     35.63
Encore                            39.67      5.88    16.96    87.50      0.13            0.00      42.77         71.39     49.37
Master Financial                  46.06     20.78    23.92    84.57     11.37            9.34      42.07         71.19     43.18
                                  -----     -----    -----    -----     -----            ----      -----         -----     -----
Total:                            30.71      8.61    18.95    87.56      3.23            2.71      42.85         73.70     40.47
                                  =====     =====    =====    =====     =====            ====      =====         =====     =====


TOP 5 ORIGINATORS (NOTE          PERCENT   PERCENT  PERCENT   PERCENT    PERCENT    PERCENT
ADDITIONAL COLUMNS)            STATED DOC    SISA     NINA   OWNER OCC  2ND HOME  INVESTMENT
-----------------------        ----------  -------  -------  ---------  --------  ----------

First NLC                           59.74     0.00     0.00      95.23      0.09        4.68
New Century                         48.08     0.00     0.00      87.24      5.70        7.06
Accredited                          59.20     0.00     0.00      93.86      0.32        5.83
Encore                              47.07     0.00     0.00      89.99      1.17        8.84
Master Financial                    52.07     0.00     0.00      97.46      1.90        0.63
                                    -----     ----     ----      -----      ----        ----
Total:                              55.33     0.00     0.00      93.00      1.49        5.52
                                    =====     ====     ====      =====      ====        ====




% OF ORIGINAL PURCHASE POOL
    SIZE OF UNDERWRITING
    DILIGENCE SAMPLE (%)
-----------------------------




(1)  LTV is defined as (a) for a first lien loan, the loan amount divided by the
     lesser of the appraised value or sales price of the related property and
     (b) for a second lien loan, the sum of the loan amount plus the amount of
     the senior loan divided by the lesser of the appraised vaue or sales price
     of the related property.

(2)  CLTV is defined as (a) for a first lien loan, the sum of the loan amount
     plus the amount of any subordinate lien on the related property divided by
     the lesser of the appraised value or sales price of the related property
     and (b) for a second lien loan, the sum of the loan amount plus the amount
     of the related senior loan divided by the lesser of the appraised vaue or
     sales price of the related property.

(3)  All DTI data should reflect back-end DTI, which is the ratio of all of the
     borrower's monthly long-term debt payments (including the subject mortgage)
     to his or her income.

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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INVESTEC STRATIFICATION REQUIREMENTS

DEAL NAME            IXIS 2006-HE3
ORIGINATOR
ISSUER               Morgan Stanley
LARGEST SERVICER %   Saxon (94.04%)
SERVICER RANKING
ORIG. RANKING
FICO AVE                        626
1ST LIEN                      96.51
LTV                           80.13
CA                            32.46
IO                            19.46
MTA

FOR EACH OF TOP 5 STATES



                                                TOP 5 STATES
------------------------------------------------------------------------------------------------------------
                                       WA LOAN             WA                        FULL   STATED   LIMITED
STATE                  PRINCIPAL       BALANCE      %     FICO   WA LTV    WA DTI   DOC %    DOC %    DOC %
-----               --------------   ----------   -----   ----   ------   -------   -----   ------   -------

California          271,051,189.84   296,230.81   32.46%   641    80.11    43.43    30.43    64.17     5.40
Florida             119,157,018.56   178,914.44   14.27%   622    79.54    42.90    37.77    59.39     2.85
Illinois             57,253,943.39   177,256.79    6.86%   622    81.62    43.86    36.71    57.67     5.62
New York             41,732,227.21   300,231.85    5.00%   650    76.69    42.92    33.61    63.58     2.81
Arizona              31,983,040.45   182,760.23    3.83%   612    78.87    42.12    39.29    55.48     5.22


FOR LOW DOC LOANS



                                     LOW DOC
----------------------------------------------------------------------------------
                                         WA LOAN             WA
DOCUMENTATION LEVEL      PRINCIPAL       BALANCE      %     FICO   WA LTV   WA DTI
-------------------   --------------   ----------   -----   ----   ------   ------

STATED DOC            456,501,438.28   213,617.89   54.68%   641    80.07    43.49
LIMITED DOC            35,981,758.43   207,987.04    4.31%   619    81.92    39.66


            LOW DOC STATE BREAKOUT
---------------------------------------------
STATE                     PRINCIPAL       %
-----                  --------------   -----
Alabama                    457,265.66    0.05%
Alaska                     133,712.98    0.02%
Arizona                 19,415,764.25    2.33%
Arkansas                   481,026.81    0.06%
California             188,576,282.27   22.59%
Colorado                 3,531,055.89    0.42%
Connecticut              6,811,652.13    0.82%
Delaware                 1,278,869.00    0.15%
District of Columbia       972,514.06    0.12%
Florida                 74,154,756.16    8.88%
Georgia                  5,218,758.15    0.63%
Guam
Hawaii                   8,498,723.18    1.02%
Idaho                    1,460,158.21    0.17%
Illinois                36,236,605.03    4.34%
Indiana                    840,462.87    0.10%
Iowa                       584,290.22    0.07%
Kansas                     380,593.85    0.05%
Kentucky                   193,848.98    0.02%
Louisiana                  754,763.57    0.09%
Maine                      838,209.92    0.10%
Maryland                 9,601,898.93    1.15%
Massachusetts            9,963,324.15    1.19%
Michigan                 6,229,588.53    0.75%
Minnesota                2,599,657.79    0.31%
Mississippi                111,936.88    0.01%
Missouri                 1,764,680.53    0.21%
Montana                    297,455.05    0.04%
Nebraska                   171,755.37    0.02%
Nevada                  12,959,577.18    1.55%
New Hampshire              643,375.02    0.08%
New Jersey              11,044,141.10    1.32%
New Mexico                 937,458.49    0.11%
New York                27,704,001.77    3.32%
North Carolina           2,241,225.76    0.27%
North Dakota
Ohio                     1,504,708.99    0.18%
Oklahoma                   526,647.27    0.06%
Oregon                   2,796,708.26    0.33%
Pennsylvania             6,296,190.28    0.75%
Puerto Rico
Rhode Island            10,753,482.28    1.29%
South Carolina             309,992.02    0.04%
South Dakota
Tennessee                2,936,693.22    0.35%
Texas                   12,443,000.90    1.49%
Utah                     1,528,473.11    0.18%
Vermont
Virginia                 8,748,785.14    1.05%
Virgin Islands
Washington               5,983,632.20    0.72%
West Virginia
Wisconsin                1,565,493.30    0.19%
Wyoming

FOR IO LOANS



                                                IO
-------------------------------------------------------------------------------------------------
                             WA LOAN             WA                       FULL   STATED   LIMITED
IO TERM      PRINCIPAL       BALANCE      %     FICO   WA LTV   WA DTI   DOC %    DOC %    DOC %
-------   --------------   ----------   -----   ----   ------   ------   -----   ------   -------

24            431,400.00   215,700.00    0.05%   606    79.45    29.07   51.23    48.77        --
36            639,500.00   213,166.67    0.08%   631    77.28    39.93   35.65    64.35        --
60        160,349,980.87   307,773.48   19.21%   659    80.61    43.32   37.04    57.19      5.77
84
120         1,087,125.00   217,425.00    0.13%   643    81.43    41.93   62.10    37.90        --


              IO STATE BREAKOUT
--------------------------------------------
STATE                    PRINCIPAL       %
-----                  -------------   -----
Alabama
Alaska
Arizona                 7,671,777.00    0.92%
Arkansas
California             88,869,827.86   10.64%
Colorado                1,216,549.10    0.15%
Connecticut               543,600.00    0.07%
Delaware                  252,000.00    0.03%
District of Columbia      232,000.00    0.03%
Florida                19,208,897.93    2.30%
Georgia                 2,238,317.47    0.27%
Guam
Hawaii                  3,164,746.06    0.38%
Idaho                     146,400.00    0.02%
Illinois                4,271,020.98    0.51%
Indiana
Iowa
Kansas                    151,600.00    0.02%
Kentucky                  210,000.00    0.03%
Louisiana
Maine                     240,000.00    0.03%
Maryland                6,929,870.00    0.83%
Massachusetts           1,612,750.00    0.19%
Michigan                  386,400.00    0.05%
Minnesota                 287,195.73    0.03%
Mississippi
Missouri                   92,000.00    0.01%
Montana
Nebraska
Nevada                  6,428,958.00    0.77%
New Hampshire
New Jersey              1,792,808.80    0.21%
New Mexico                368,000.00    0.04%
New York                7,143,948.27    0.86%
North Carolina            494,000.00    0.06%
North Dakota
Ohio                      491,129.45    0.06%
Oklahoma
Oregon                    939,200.00    0.11%
Pennsylvania              502,000.00    0.06%
Puerto Rico
Rhode Island            2,176,550.00    0.26%
South Carolina             98,800.00    0.01%
South Dakota
Tennessee                  76,800.00    0.01%
Texas                     781,742.02    0.09%
Utah
Vermont                   128,000.00    0.02%
Virginia                1,835,150.00    0.22%
Virgin Islands
Washington              1,525,967.20    0.18%
West Virginia
Wisconsin
Wyoming

FICO STRATIFICATIONS



                             Less than or
PROPERTY TYPE                 equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
-------------                -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

Single Family                         0.22%     4.49%     5.11%     6.52%     8.74%    14.39%    13.84%    10.46%     6.15%  6.80%
Multi-unit                            0.00%     0.31%     0.46%     0.35%     0.80%     1.31%     2.05%     1.24%     1.34%  1.50%
Planned Unit Dev                      0.00%     0.48%     0.44%     0.38%     0.52%     1.11%     1.17%     0.95%     0.59%  0.72%
Condo/Co-op                           0.00%     0.24%     0.27%     0.23%     0.34%     0.87%     1.65%     1.22%     0.71%  0.70%
Manuf Housing
Other                                 0.02%     0.09%     0.11%     0.14%     0.11%     0.20%     0.33%     0.16%     0.10%  0.10%




                             Less than or
OCCUPANCY STATUS              equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
----------------             -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

Investor Properties                   0.00%     0.09%     0.11%     0.16%     0.54%     0.76%     1.43%     1.04%     0.89%  0.93%
Owner Occupied/Second Home            0.24%     5.52%     6.27%     7.46%     9.98%    17.11%    17.60%    12.98%     8.00%  8.89%




                             Less than or
LOAN PURPOSE                  equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
------------                 -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

Purchase                              0.01%     0.35%     0.61%     0.92%     2.47%     7.11%    10.03%     7.99%     5.59%  7.71%
Refinance (Non cash out)              0.02%     0.24%     0.43%     0.49%     0.56%     1.17%     0.74%     0.45%     0.38%  0.28%
Cash out                              0.21%     5.02%     5.34%     6.21%     7.49%     9.60%     8.26%     5.58%     2.92%  1.83%




                             Less than or
DOCUMENTATION LEVEL           equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
-------------------          -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

Full Doc                              0.20%     3.79%     3.32%     4.32%   5.75%       9.00%    6.45%      3.61%     2.24%  2.34%
Limited Doc                           0.02%     0.27%     0.15%     0.43%   0.42%       1.07%    0.82%      0.66%     0.22%  0.25%




                             Less than or
LIEN LEVEL                    equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
----------                   -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

First Lien                            0.23%     5.61%     6.37%     7.61%    10.41%    17.28%    17.97%    13.24%     8.46%  9.33%
Second Lien                           0.01%     0.00%     0.00%     0.01%     0.11%     0.60%     1.05%     0.79%     0.43%  0.49%




                             Less than or
LOAN TO VALUE                 equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
-------------                -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

<= 55                                 0.04%     0.54%     0.47%     0.50%     0.37%     0.54%     0.66%     0.23%     0.16%  0.13%
55-60                                 0.00%     0.20%     0.17%     0.16%     0.20%     0.30%     0.11%     0.22%     0.03%  0.03%
60-65                                 0.02%     0.64%     0.49%     0.44%     0.33%     0.37%     0.22%     0.11%     0.11%  0.03%
65-70                                 0.03%     0.77%     1.14%     0.41%     0.64%     0.51%     0.32%     0.22%     0.31%  0.14%
70-75                                 0.03%     1.33%     1.23%     1.20%     0.94%     0.99%     0.72%     0.30%     0.31%  0.15%
75-80                                 0.11%     1.34%     1.57%     2.05%     3.94%     8.18%    10.60%     8.75%     5.60%  6.81%
80-85                                 0.00%     0.75%     1.11%     1.50%     1.25%     2.12%     1.81%     0.89%     0.62%  0.47%
85-90                                 0.00%     0.04%     0.15%     1.12%     2.00%     2.98%     2.20%     1.84%     0.84%  0.60%
90-95                                 0.00%     0.00%     0.02%     0.20%     0.45%     1.09%     1.24%     0.56%     0.40%  0.74%
95-100                                0.01%     0.00%     0.03%     0.03%     0.42%     0.80%     1.16%     0.90%     0.51%  0.73%
>100




                             Less than or
LOAN SIZE                     equal to 500   501-525   526-550   551-575   576-600   601-625   626-650   651-675   676-700   >700
---------                    -------------   -------   -------   -------   -------   -------   -------   -------   -------   ----

$0 - $50,000                          0.01%     0.03%     0.03%     0.03%     0.11%     0.20%     0.34%    0.19%      0.09%  0.10%
$50,000 - $100,000                    0.02%     0.60%     0.53%     0.70%     0.82%     1.20%     1.46%    0.80%      0.47%  0.53%
$100,000 - $150,000                   0.06%     1.12%     1.38%     1.38%     1.71%     2.10%     2.15%    1.36%      0.71%  0.70%
$150,000 - $200,000                   0.04%     1.26%     1.36%     1.28%     1.91%     2.49%     2.13%    1.74%      1.18%  1.21%
$200,000 - $250,000                   0.00%     0.84%     0.97%     1.17%     1.53%     2.49%     2.61%    2.03%      1.06%  1.26%
$250,000 - $300,000                   0.03%     0.72%     0.76%     0.88%     1.15%     2.25%     2.60%    1.21%      0.78%  0.99%
$300,000 - $350,000                   0.08%     0.39%     0.54%     0.92%     0.81%     1.51%     1.84%    1.44%      0.77%  1.01%
> $350,000                            0.00%     0.65%     0.80%     1.27%     2.49%     5.63%     5.91%    5.25%      3.84%  4.04%




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Collateral Analysis



                                Percent
                     Wtd Avg       of                    Wtd   Wtd     Wtd                     %       %      %      %
                     Current    Current  Wtd Avg         Avg   Avg     Avg                   Owner   Full    Ltd   Stated  % Int
   FICO and LTV      Balance    Balance    GWAC   % MI  FICO   DTI     LTV    % SFD  % PUD    Occ     Doc    Doc     Doc    Only
   ------------    -----------  -------  -------  ----  ----  -----  ------  ------  -----  ------  ------  -----  ------  -----

500-524 and > 65%  167,413.21     4.21     9.624  0.00   511  43.17   77.04   80.98   9.76   97.73   67.98   5.39   26.63   0.61
525-549 and > 65%  175,158.26     5.27     9.347  0.00   537  42.08   77.51   82.42   6.91   99.09   55.71   3.33   40.97   0.00
550-574 and > 65%  180,880.22     6.41     9.002  0.00   562  42.63   81.38   89.72   2.60   97.63   58.49   5.38   36.13   0.00
575-599 and > 70%  188,603.24     8.74     8.700  0.00   588  42.71   83.63   86.17   5.64   94.54   54.12   4.29   41.58   4.98
600-624 and > 70%  205,986.99    16.13     8.393  0.00   613  42.86   83.81   81.78   6.46   94.51   52.23   6.59   41.18  26.01
625-649 and > 70%  196,434.57    17.83     8.376  0.00   637  43.14   83.66   75.17   6.04   91.18   33.56   4.47   61.97  21.40
650-674 and > 80%  157,339.63     4.13     8.870  0.00   661  42.88   91.26   72.04   7.80   82.02   36.52   5.09   58.39  20.66
675-699 and > 80%  165,678.03     2.50     8.920  0.00   686  42.44   91.19   75.08   8.12   75.53   34.87   3.64   61.49  23.71
700-724 and > 80%  171,759.45     1.23     8.627  0.00   709  42.91   93.60   69.59   4.98   73.07   46.91  10.91   42.18  13.34
725-749 and > 85%  150,165.04     0.65     9.125  0.00   736  41.05   94.62   65.21   0.00   59.96   32.35   0.96   66.69  18.01
750-774 and > 85%  151,931.67     0.35     8.858  0.00   761  38.77   92.49  100.00   0.00   54.11   39.66   0.00   60.34  29.00
775-799 and > 85%   84,520.40     0.06    10.650  0.00   788  41.90   97.06   74.38   0.00   70.57   10.64   0.00   89.36   0.00
>=800 and > 85%     87,978.05     0.04     9.070  0.00   808  46.92   96.63  100.00   0.00  100.00   33.75  22.09   44.16   0.00




                              Percent
                    Wtd Avg      of                    Wtd   Wtd     Wtd                    %       %      %      %
                    Current   Current  Wtd Avg         Avg   Avg     Avg                  Owner   Full    Ltd   Stated  % Int
   LTV and DTI      Balance   Balance    GWAC   % MI  FICO   DTI     LTV   % SFD  % PUD    Occ     Doc    Doc     Doc    Only
   -----------    ----------  -------  -------  ----  ----  -----  ------  -----  -----  ------  ------  -----  ------  -----

60-64% and > 50%  224,204.56    0.32     8.895  0.00   535  52.11   62.88  83.58   0.00  100.00   71.76   0.00   28.24   0.00
65-69% and > 50%  175,530.90    0.44     8.896  0.00   564  52.68   67.14  80.55   0.00   85.79   61.25   3.52   35.23   0.00
70-74% and > 50%  190,367.15    0.68     8.169  0.00   591  52.90   71.97  80.68   3.00   96.29   82.39   6.53   11.08   3.68
75-79% and > 50%  249,227.59    1.25     8.327  0.00   597  52.79   76.74  68.38   5.74   85.93   55.88   0.00   44.12  17.93
80-84% and > 50%  234,870.83    3.83     8.074  0.00   628  52.78   80.20  74.31   7.45   95.04   52.19   2.32   45.49  17.73
85-89% and > 50%  237,099.89    0.97     8.734  0.00   597  52.15   86.49  80.82   2.82   86.14   70.83   5.79   23.38  13.09
90-94% and > 50%  227,242.97    1.09     8.275  0.00   626  53.26   90.32  88.37   2.05   93.18   75.83   4.45   19.73   8.79
95-99% and > 50%  181,984.09    0.46     9.561  0.00   624  52.54   95.19  91.03   0.00   50.78   69.77   5.68   24.54   5.18
>=100% and > 50%   67,139.14    0.28    11.071  0.00   651  52.30  100.00  82.28   3.49  100.00   53.16   8.20   38.64   0.00




                              Percent
                    Wtd Avg      of                    Wtd   Wtd    Wtd                    %       %      %      %
                    Current   Current  Wtd Avg         Avg   Avg    Avg                  Owner   Full    Ltd   Stated  % Int
  DTI and FICO      Balance   Balance    GWAC   % MI  FICO   DTI    LTV   % SFD  % PUD    Occ     Doc    Doc     Doc    Only
  ------------    ----------  -------  -------  ----  ----  -----  -----  -----  -----  ------  ------  -----  ------  -----

20-24% and < 525  151,499.66    0.29    9.647   0.00   512  23.00  72.16  84.61  11.14  100.00  100.00   0.00    0.00   8.91
25-29% and < 550  122,282.30    0.45    9.525   0.00   527  27.60  72.00  83.20  14.65  100.00   52.90  13.81   33.30   0.00
30-34% and < 575  151,322.61    1.70    9.376   0.00   544  32.71  71.41  84.67   5.53   95.73   57.22   7.39   35.39   1.75
35-39% and < 600  156,470.16    3.67    9.051   0.00   553  37.80  76.72  86.23   4.43   97.22   60.77   2.73   36.51   0.00
40-44% and < 625  197,172.44   11.55    8.796   0.00   576  42.72  78.18  83.39   5.44   97.36   45.03   5.16   49.81  11.96
45-49% and < 650  203,692.39   23.25    8.703   0.00   598  47.69  80.64  80.59   6.09   94.12   42.00   4.25   53.75  14.95
50-54% and < 675  195,491.61    7.77    8.591   0.00   596  52.28  79.19  79.54   4.51   91.47   63.23   3.05   33.73   8.89
>=55% and < 700   292,982.33    0.91    8.009   0.00   615  57.45  79.14  67.13   9.97   93.52   66.16   1.41   32.42  13.44


NON-FULL DOC



                     Percent
           Wtd Avg      of                    Wtd   Wtd    Wtd
           Current   Current  Wtd Avg         Avg   Avg    Avg
  FICO     Balance   Balance    GWAC   % MI  FICO   DTI    LTV    % SFD  % PUD
-------  ----------  -------  -------  ----  ----  -----  -----  ------  -----

500-524  196,492.80    1.77    9.712   0.00   512  43.18  70.34   78.84  12.24
525-549  215,638.97    3.05    9.390   0.00   538  41.63  71.39   76.75   7.03
550-574  202,656.99    3.28    9.031   0.00   563  41.94  75.60   81.98   8.50
575-599  203,694.04    4.64    9.009   0.00   588  43.14  79.80   84.61   2.70
600-624  222,261.38    8.73    8.697   0.00   613  42.92  80.90   82.84   6.12
625-649  196,687.29   12.58    8.663   0.00   637  43.55  81.94   74.47   3.85
650-674  215,098.89   10.51    8.349   0.00   661  44.00  81.43   74.67   7.20
675-699  227,121.51    6.66    8.239   0.00   686  43.11  81.39   70.53   8.19
700-724  233,621.84    3.44    8.071   0.00   710  42.44  81.51   78.59   4.88
725-749  213,026.66    2.04    8.237   0.00   735  43.75  82.79   64.32  13.50
750-774  261,443.67    1.50    8.040   0.00   760  43.41  81.21   67.60   0.00
775-799  272,304.58    0.68    7.963   0.00   783  44.29  81.61   74.75   8.36
 >=800   171,420.11    0.10    7.897   0.00   806  45.30  85.44  100.00   0.00



            %       %      %      %
          Owner   Full    Ltd   Stated  % Int
  FICO     Occ     Doc    Doc     Doc    Only    % CA    % NY   % FL
-------  ------  ------  -----  ------  ------  ------  -----  -----

500-524   98.69    0.00  13.73   86.27    0.00   35.11   1.57  19.85
525-549   98.36    0.00   6.32   93.68    0.00   22.65   5.02  19.88
550-574   97.19    0.00  12.62   87.38    0.91   20.64   4.26  15.59
575-599   93.42    0.00   8.33   91.67    1.24   27.58   5.80  12.93
600-624   93.88    0.00  12.87   87.13   22.21   38.57   5.52  20.37
625-649   88.42    0.00   6.50   93.50   19.86   38.18   4.31  14.18
650-674   91.63    0.00   5.81   94.19   31.99   46.29   3.16  10.52
675-699   88.95    0.00   4.10   95.90   29.94   44.74   6.92  16.38
700-724   93.60    0.00   5.22   94.78   28.10   39.50   9.88  15.64
725-749   82.19    0.00   0.30   99.70   22.56   33.63  14.90  14.49
750-774   89.70    0.00   3.67   96.33   34.40   58.77   8.25   6.57
775-799   94.80    0.00   0.00  100.00   45.65   45.41  20.81  17.70
 >=800   100.00    0.00   9.07   90.93   72.80   62.10   0.00   0.00


INTEREST ONLY



                     Percent
           Wtd Avg      of                    Wtd   Wtd    Wtd
           Current   Current  Wtd Avg         Avg   Avg    Avg
  FICO     Balance   Balance    GWAC   % MI  FICO   DTI    LTV    % SFD  % PUD
-------  ----------  -------  -------  ----  ----  -----  -----  ------  -----

500-524  216,000.00    0.03    7.500   0.00   519  24.25  90.00  100.00   0.00
525-549
550-574  249,324.86    0.03    9.750   0.00   553  32.85  51.55  100.00   0.00
575-599  293,211.04    0.49    7.251   0.00   586  38.86  78.26   85.48   7.21
600-624  306,944.28    4.41    7.863   0.00   613  42.81  81.93   81.44   8.14
625-649  295,318.22    4.14    7.784   0.00   637  43.75  79.39   74.74   6.02
650-674  312,632.99    4.19    7.769   0.00   661  43.90  80.25   74.04   9.89
675-699  311,360.42    2.91    7.775   0.00   685  43.26  80.75   72.06   8.08
700-724  293,924.07    1.41    7.630   0.00   711  44.39  80.60   77.53  12.15
725-749  284,989.26    0.82    7.500   0.00   735  42.67  82.33   65.90   2.90
750-774  336,800.03    0.61    7.912   0.00   763  41.49  81.61   73.00   0.00
775-799  425,502.86    0.36    7.641   0.00   782  43.80  80.37   71.93   0.00
 >=800   311,973.82    0.07    7.135   0.00   806  44.97  80.00  100.00   0.00



            %       %      %      %
          Owner   Full    Ltd   Stated  % Int
  FICO     Occ     Doc    Doc     Doc    Only    % CA    % NY   % FL
-------  ------  ------  -----  ------  ------  ------  -----  -----

500-524  100.00  100.00   0.00    0.00  100.00    0.00   0.00   0.00
525-549
550-574    0.00    0.00   0.00  100.00  100.00  100.00   0.00   0.00
575-599  100.00   88.32   0.00   11.68  100.00   33.92  15.96   6.82
600-624  100.00   56.04   6.65   37.31  100.00   55.21   5.01   9.17
625-649   99.46   39.64   7.49   52.88  100.00   50.90   4.05  14.99
650-674   98.56   19.82   7.38   72.80  100.00   60.99   1.98   9.00
675-699   94.16   31.39   3.86   64.75  100.00   51.20   0.00  17.40
700-724   95.63   31.32   1.99   66.69  100.00   58.25   6.07   8.32
725-749   98.07   43.79   0.00   56.21  100.00   36.53  19.23  18.59
750-774   88.48   14.55   9.11   76.35  100.00   76.80   0.00   4.19
775-799  100.00   12.36   0.00   87.64  100.00   64.59  17.46  17.95
 >=800   100.00    0.00   0.00  100.00  100.00   58.34   0.00   0.00




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COLLATERAL ANALYSIS



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
   FICO and LTV     Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds
   ------------     ---------------  ---------------  -------  ----  -------  -------  -------  --------

500-524 and > 65%        167,413.21             4.21    9.624  0.00      511    43.17    77.04      2.66
525-549 and > 65%        175,158.26             5.27    9.347  0.00      537    42.08    77.51      4.80
550-574 and > 65%        180,880.22             6.41    9.002  0.00      562    42.63    81.38      5.81
575-599 and > 70%        188,603.24             8.74    8.700  0.00      588    42.71    83.63     14.26
600-624 and > 70%        205,986.99            16.13    8.393  0.00      613    42.86    83.81     39.12
625-649 and > 70%        196,434.57            17.83    8.376  0.00      637    43.14    83.66     44.83
650-674 and > 80%        157,339.63             4.13    8.870  0.00      661    42.88    91.26      2.84
675-699 and > 80%        165,678.03             2.50    8.920  0.00      686    42.44    91.19      6.43
700-724 and > 80%        171,759.45             1.23    8.627  0.00      709    42.91    93.60      2.09
725-749 and > 85%        150,165.04             0.65    9.125  0.00      736    41.05    94.62      1.49
750-774 and > 85%        151,931.67             0.35    8.858  0.00      761    38.77    92.49      0.00
775-799 and > 85%         84,520.40             0.06   10.650  0.00      788    41.90    97.06      0.00
>=800 and > 85%           87,978.05             0.04    9.070  0.00      808    46.92    96.63      0.00



   FICO and LTV      % SFD  % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only
   ------------     ------  -----  -----------  ----------  ---------  ------------  ----------

500-524 and > 65%    80.98   9.76        97.73       67.98       5.39         26.63        0.61
525-549 and > 65%    82.42   6.91        99.09       55.71       3.33         40.97        0.00
550-574 and > 65%    89.72   2.60        97.63       58.49       5.38         36.13        0.00
575-599 and > 70%    86.17   5.64        94.54       54.12       4.29         41.58        4.98
600-624 and > 70%    81.78   6.46        94.51       52.23       6.59         41.18       26.01
625-649 and > 70%    75.17   6.04        91.18       33.56       4.47         61.97       21.40
650-674 and > 80%    72.04   7.80        82.02       36.52       5.09         58.39       20.66
675-699 and > 80%    75.08   8.12        75.53       34.87       3.64         61.49       23.71
700-724 and > 80%    69.59   4.98        73.07       46.91      10.91         42.18       13.34
725-749 and > 85%    65.21   0.00        59.96       32.35       0.96         66.69       18.01
750-774 and > 85%   100.00   0.00        54.11       39.66       0.00         60.34       29.00
775-799 and > 85%    74.38   0.00        70.57       10.64       0.00         89.36        0.00
>=800 and > 85%     100.00   0.00       100.00       33.75      22.09         44.16        0.00




                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
    LTV and DTI     Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
    -----------     ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

60-64% and > 49.9%       217,755.27             0.34    8.930  0.00      536    52.00    62.89      0.00   79.44
65-69% and > 49.9%       181,169.24             0.48    8.958  0.00      561    52.48    67.21      0.00   74.50
70-74% and > 49.9%       197,305.20             0.80    8.304  0.00      586    52.46    71.79      5.39   79.23
75-79% and > 49.9%       254,647.30             1.34    8.318  0.00      599    52.61    76.84     10.15   66.00
80-84% and > 49.9%       236,559.88             4.36    8.083  0.00      629    52.43    80.23     67.87   75.86
85-89% and > 49.9%       235,883.74             1.05    8.803  0.00      596    51.98    86.55      9.71   82.29
90-94% and > 49.9%       226,845.58             1.14    8.242  0.00      625    53.11    90.33      7.55   88.90
95-99% and > 49.9%       173,256.38             0.52    9.627  0.00      625    52.23    95.35     12.71   86.86
>=100% and > 49.9%        66,984.44             0.33   11.123  0.00      651    51.96   100.00      0.00   80.11



    LTV and DTI     % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only
    -----------     -----  -----------  ----------  ---------  ------------  ----------

60-64% and > 49.9%   0.00       100.00       68.20       0.00         31.80        0.00
65-69% and > 49.9%   0.00        86.86       56.65       3.26         40.10        0.00
70-74% and > 49.9%   6.88        96.84       73.78       5.56         20.66        3.13
75-79% and > 49.9%   5.37        86.85       54.32       0.00         45.68       21.22
80-84% and > 49.9%   7.04        94.84       48.70       3.16         48.14       18.54
85-89% and > 49.9%   2.61        83.59       65.42       8.96         25.62       12.09
90-94% and > 49.9%   1.95        93.49       76.94       4.24         18.82        8.39
95-99% and > 49.9%   5.23        51.34       64.52       5.02         30.47        4.57
>=100% and > 49.9%   2.98       100.00       46.35       7.02         46.63        0.00




                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
    DTI and FICO    Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds
    ------------    ---------------  ---------------  -------  ----  -------  -------  -------  --------

20-24.9% and < 525     151,499.66          0.29        9.647   0.00    512     23.00    72.16      0.00
25-29.9% and < 550     122,282.30          0.45        9.525   0.00    527     27.60    72.00      6.94
30-34.9% and < 575     151,322.61          1.70        9.376   0.00    544     32.71    71.41      4.44
35-39.9% and < 600     156,470.16          3.67        9.051   0.00    553     37.80    76.72      9.10
40-44.9% and < 625     197,172.44         11.55        8.796   0.00    576     42.72    78.18     16.91
45-49.9% and < 650     203,692.39         23.25        8.703   0.00    598     47.69    80.64     28.71
50-54.9% and < 675     195,491.61          7.77        8.591   0.00    596     52.28    79.19     27.20
>=55% and < 700        292,982.33          0.91        8.009   0.00    615     57.45    79.14     42.48



   DTI and FICO      % SFD  % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only
   ------------     ------  -----  -----------  ----------  ---------  ------------  ----------

20-24.9% and < 525   84.61  11.14       100.00      100.00       0.00         0.00         8.91
25-29.9% and < 550   83.20  14.65       100.00       52.90      13.81        33.30         0.00
30-34.9% and < 575   84.67   5.53        95.73       57.22       7.39        35.39         1.75
35-39.9% and < 600   86.23   4.43        97.22       60.77       2.73        36.51         0.00
40-44.9% and < 625   83.39   5.44        97.36       45.03       5.16        49.81        11.96
45-49.9% and < 650   80.59   6.09        94.12       42.00       4.25        53.75        14.95
50-54.9% and < 675   79.54   4.51        91.47       63.23       3.05        33.73         8.89
>=55% and < 700      67.13   9.97        93.52       66.16       1.41        32.42        13.44


NON-FULL DOC



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
       FICO         Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
       ----         ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

500-524                  196,492.80             1.77    9.712  0.00      512    43.18    70.34      0.36   78.84
525-549                  215,638.97             3.05    9.390  0.00      538    41.63    71.39      2.78   76.75
550-574                  202,656.99             3.28    9.031  0.00      563    41.94    75.60      4.99   81.98
575-599                  203,694.04             4.64    9.009  0.00      588    43.14    79.80      6.44   84.61
600-624                  222,261.38             8.73    8.697  0.00      613    42.92    80.90     27.26   82.84
625-649                  196,687.29            12.58    8.663  0.00      637    43.55    81.94     43.68   74.47
650-674                  215,098.89            10.51    8.349  0.00      661    44.00    81.43     56.86   74.67
675-699                  227,121.51             6.66    8.239  0.00      686    43.11    81.39     58.27   70.53
700-724                  233,621.84             3.44    8.071  0.00      710    42.44    81.51     70.59   78.59
725-749                  213,026.66             2.04    8.237  0.00      735    43.75    82.79     65.39   64.32
750-774                  261,443.67             1.50    8.040  0.00      760    43.41    81.21     65.70   67.60
775-799                  272,304.58             0.68    7.963  0.00      783    44.29    81.61     79.16   74.75
>=800                    171,420.11             0.10    7.897  0.00      806    45.30    85.44      0.00  100.00



       FICO         % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only   % CA    % NY   % FL
       ----         -----  -----------  ----------  ---------  ------------  ----------  ------  -----  -----

500-524             12.24        98.69        0.00      13.73         86.27        0.00   35.11   1.57  19.85
525-549              7.03        98.36        0.00       6.32         93.68        0.00   22.65   5.02  19.88
550-574              8.50        97.19        0.00      12.62         87.38        0.91   20.64   4.26  15.59
575-599              2.70        93.42        0.00       8.33         91.67        1.24   27.58   5.80  12.93
600-624              6.12        93.88        0.00      12.87         87.13       22.21   38.57   5.52  20.37
625-649              3.85        88.42        0.00       6.50         93.50       19.86   38.18   4.31  14.18
650-674              7.20        91.63        0.00       5.81         94.19       31.99   46.29   3.16  10.52
675-699              8.19        88.95        0.00       4.10         95.90       29.94   44.74   6.92  16.38
700-724              4.88        93.60        0.00       5.22         94.78       28.10   39.50   9.88  15.64
725-749             13.50        82.19        0.00       0.30         99.70       22.56   33.63  14.90  14.49
750-774              0.00        89.70        0.00       3.67         96.33       34.40   58.77   8.25   6.57
775-799              8.36        94.80        0.00       0.00        100.00       45.65   45.41  20.81  17.70
>=800                0.00       100.00        0.00       9.07         90.93       72.80   62.10   0.00   0.00


INTEREST ONLY



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
       FICO         Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
       ----         ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

500-524                  216,000.00             0.03    7.500  0.00      519    24.25    90.00      0.00  100.00
525-549
550-574                  249,324.86             0.03    9.750  0.00      553    32.85    51.55      0.00  100.00
575-599                  293,211.04             0.49    7.251  0.00      586    38.86    78.26     17.09   85.48
600-624                  306,944.28             4.41    7.863  0.00      613    42.81    81.93     46.84   81.44
625-649                  295,318.22             4.14    7.784  0.00      637    43.75    79.39     55.27   74.74
650-674                  312,632.99             4.19    7.769  0.00      661    43.90    80.25     60.55   74.04
675-699                  311,360.42             2.91    7.775  0.00      685    43.26    80.75     70.72   72.06
700-724                  293,924.07             1.41    7.630  0.00      711    44.39    80.60     82.43   77.53
725-749                  284,989.26             0.82    7.500  0.00      735    42.67    82.33     66.52   65.90
750-774                  336,800.03             0.61    7.912  0.00      763    41.49    81.61     73.99   73.00
775-799                  425,502.86             0.36    7.641  0.00      782    43.80    80.37     75.20   71.93
 >=800                   311,973.82             0.07    7.135  0.00      806    44.97    80.00      0.00  100.00



       FICO         % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only   % CA    % NY   % FL
       ----         -----  -----------  ----------  ---------  ------------  ----------  ------  -----  -----

500-524              0.00       100.00      100.00       0.00         0.00       100.00    0.00   0.00   0.00
525-549
550-574              0.00         0.00        0.00       0.00       100.00       100.00  100.00   0.00   0.00
575-599              7.21       100.00       88.32       0.00        11.68       100.00   33.92  15.96   6.82
600-624              8.14       100.00       56.04       6.65        37.31       100.00   55.21   5.01   9.17
625-649              6.02        99.46       39.64       7.49        52.88       100.00   50.90   4.05  14.99
650-674              9.89        98.56       19.82       7.38        72.80       100.00   60.99   1.98   9.00
675-699              8.08        94.16       31.39       3.86        64.75       100.00   51.20   0.00  17.40
700-724             12.15        95.63       31.32       1.99        66.69       100.00   58.25   6.07   8.32
725-749              2.90        98.07       43.79       0.00        56.21       100.00   36.53  19.23  18.59
750-774              0.00        88.48       14.55       9.11        76.35       100.00   76.80   0.00   4.19
775-799              0.00       100.00       12.36       0.00        87.64       100.00   64.59  17.46  17.95
 >=800               0.00       100.00        0.00       0.00       100.00       100.00   58.34   0.00   0.00


40 YEAR LOANS



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
       FICO         Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
       ----         ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

500-524
525-549
550-574
575-599
600-624
625-649
650-674
675-699
700-724
725-749
750-774
775-799
>=800



       FICO         % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only   % CA    % NY   % FL
       ----         -----  -----------  ----------  ---------  ------------  ----------  ------  -----  -----

500-524
525-549
550-574
575-599
600-624
625-649
650-674
675-699
700-724
725-749
750-774
775-799
>=800


INVESTOR PROPERTIES



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
       FICO         Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
       ----         ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

500-524                  121,505.39             0.09    10.55    --   517.53    46.64    68.40        --   62.55
525-549                   97,568.31             0.11    10.34    --   540.75    40.53    67.98        --   45.31
550-574                  134,655.68             0.16     9.29    --   566.15    41.64    63.00        --   54.84
575-599                  174,621.55             0.50     9.14    --   589.41    35.12    76.95      5.58   52.46
600-624                  155,991.04             0.80     9.27    --   610.85    42.12    78.22      0.89   71.92
625-649                  183,575.84             1.41     9.43    --   638.50    42.05    85.17      9.44   47.85
650-674                  150,987.93             0.94     8.59    --   662.84    41.24    82.61      5.01   69.27
675-699                  214,224.62             1.00     8.54    --   685.54    36.36    82.52        --   49.34
700-724                  190,486.87             0.34     8.89    --   710.74    37.80    89.64      2.96   64.03
725-749                  170,738.17             0.41     8.66    --   738.02    37.49    85.34      2.36   73.66
750-774                  142,470.84             0.17     8.70    --   755.34    42.79    87.91        --  100.00
775-799                   74,628.44             0.02     9.65    --   791.66    36.74    90.00        --  100.00
 >=800



       FICO         % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only   % CA    % NY   % FL
       ----         -----  -----------  ----------  ---------  ------------  ----------  ------  -----  -----

500-524             14.18           --       73.60         --         26.40          --   49.67     --     --
525-549             25.84           --       52.54         --         47.46          --   15.92     --     --
550-574                --           --       66.36         --         33.64       18.52   18.52  18.40   5.55
575-599                --           --       60.29      12.60         27.11          --   43.94   1.34  19.05
600-624                --           --       39.61       6.21         54.18          --   26.83   7.14  14.84
625-649              3.15           --       11.20       4.95         83.85          --   33.63     --  18.93
650-674              4.62           --       30.92      11.78         57.30        1.46   28.94     --  27.99
675-699              2.09           --       33.22      15.97         50.81       16.99   50.21   4.08  11.69
700-724                --           --       72.18      10.99         16.84          --   32.91     --     --
725-749                --           --       35.21         --         64.79          --    3.95  22.74  19.78
750-774                --           --       36.48         --         63.52          --   22.41     --  37.51
775-799                --           --       36.14         --         63.86          --      --     --     --
 >=800


SECONDS



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
       FICO         Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
       ----         ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

500-524                   35,761.49             0.01    11.12    --   500.00    43.98   100.00        --  100.00
525-549
550-574                  117,814.05             0.01    12.50    --   571.00    29.78   100.00        --  100.00
575-599                   46,600.20             0.08    12.48    --   590.67    43.12   100.00        --   55.30
600-624                   60,666.60             0.60    11.78    --   615.27    43.88    99.85        --   82.93
625-649                   59,743.72             1.05    11.88    --   635.63    43.36    99.90        --   79.94
650-674                   66,116.18             0.77    11.48    --   660.20    44.70    99.62        --   75.40
675-699                   68,170.62             0.47    11.00    --   685.43    43.30    99.86        --   78.43
700-724                   68,750.91             0.22    10.62    --   713.42    42.87    99.89        --   59.74
725-749                   54,561.92             0.10    10.78    --   734.20    43.54   100.00        --   63.47
750-774                   76,648.47             0.06    10.83    --   762.66    43.74    99.15        --  100.00
775-799                  131,246.62             0.08     9.97    --   785.90    44.69    86.65        --   80.20
>=800                     77,717.64             0.03     9.93    --   804.72    46.18   100.00        --  100.00



       FICO         % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only   % CA    % NY   % FL
       ----         -----  -----------  ----------  ---------  ------------  ----------  ------  -----  -----

500-524                --       100.00       42.73         --         57.27          --      --     --  57.27
525-549
550-574                --       100.00      100.00         --            --          --  100.00     --     --
575-599             32.83       100.00       70.71      29.29            --          --   27.70     --  37.65
600-624              3.17        99.10       41.79      11.33         46.88          --   56.35     --  12.25
625-649              3.69       100.00       13.74       6.76         79.49          --   46.66   2.11  13.60
650-674              2.76        99.47       12.61       4.28         83.12          --   51.33     --  14.46
675-699             11.90        98.57       22.21       3.63         74.16          --   63.40     --  16.22
700-724              8.37       100.00       32.57       2.02         65.40          --   34.44     --  34.65
725-749                --       100.00       11.96       6.34         81.69          --   33.15     --  35.07
750-774                --        91.55          --         --        100.00          --   77.63     --   8.52
775-799                --       100.00       45.47         --         54.53          --   73.79  19.80     --
>=800                  --       100.00          --      33.34         66.66          --   72.17     --     --


WITH SILENT SECONDS



                        Wtd Avg         Percent of    Wtd Avg        Wtd Avg  Wtd Avg  Wtd Avg  % Silent
       FICO         Current Balance  Current Balance    GWAC   % MI    FICO     DTI      LTV     Seconds   % SFD
       ----         ---------------  ---------------  -------  ----  -------  -------  -------  --------  ------

500-524                   93,467.56             0.11    10.53    --   512.18    46.66    79.60    100.00   91.02
525-549                  117,349.90             0.25     9.69    --   536.51    40.81    83.55    100.00   87.00
550-574                  115,409.63             0.40     9.58    --   562.24    43.65    82.21    100.00   86.85
575-599                  165,223.03             1.25     8.41    --   588.82    43.73    81.86    100.00   83.74
600-624                  223,290.29             6.31     8.04    --   613.79    43.51    80.31    100.00   81.08
625-649                  231,667.00             8.02     8.07    --   636.57    44.46    80.10    100.00   75.52
650-674                  259,725.01             7.50     7.97    --   660.92    43.97    79.74    100.00   77.23
675-699                  272,809.83             4.74     7.84    --   685.66    43.98    79.91    100.00   70.22
700-724                  270,103.70             2.91     7.79    --   710.52    43.14    79.92    100.00   74.28
725-749                  261,462.60             1.57     7.86    --   735.11    44.23    80.11    100.00   58.50
750-774                  284,767.46             1.06     7.81    --   760.09    43.58    80.10    100.00   66.49
775-799                  326,307.91             0.59     7.62    --   781.63    43.85    80.00    100.00   83.78
>=800



       FICO         % PUD  % Owner Occ  % Full Doc  % Ltd Doc  % Stated Doc  % Int Only   % CA    % NY   % FL
       ----         -----  -----------  ----------  ---------  ------------  ----------  ------  -----  -----

500-524                --       100.00       94.35         --          5.65          --      --     --     --
525-549             13.00       100.00       66.52       6.63         26.85          --      --     --  10.54
550-574                --       100.00       59.25         --         40.75          --      --     --  20.44
575-599             13.92        97.75       76.07       7.08         16.86        6.74   18.58   3.04   7.32
600-624              8.77        99.20       62.29       9.72         27.99       32.74   33.39   5.35  10.86
625-649              6.42        97.36       31.48       4.21         64.31       28.52   42.88   1.24  12.53
650-674              6.43        96.72       20.28       4.15         75.57       33.87   41.53   4.05  11.12
675-699              8.89        98.44       18.03       1.32         80.65       43.42   43.32   7.06  17.85
700-724              9.19        96.92       16.56       0.58         82.86       39.86   42.87  12.45  11.46
725-749             19.12        93.60       14.76         --         85.24       34.80   38.25  13.37  15.37
750-774                --        97.28        6.61       5.21         88.18       42.35   70.27   5.07   2.40
775-799              9.76        95.87        7.52         --         92.48       45.76   56.78  11.03  16.22
>=800


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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IXIS 2006-HE3                                                     MORGAN STANLEY
CLINTON ARM                                                        3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                             % of
                                                           Morgage
                                             Aggregate     Pool by       Avg      Weighted
                                  Number      Cut-off     Aggregate    Mortgage    Average   Weighted   Weighted
                                    of         Date        Cut-off       Loan      Gross      Average    Average    Weighted
                                 Mortgage    Principal    Principal   Principal   Interest     Gross    Original    Average
      Documentation Level         Loans       Balance      Balance     Balance      Rate      Margin       LTV     FICO Score
-----------------------------------------------------------------------------------------------------------------------------

Stated Documentation               1651     406,578,469      56.10     246,262      8.490      6.445      79.56        640
Full Documentation                 1453     287,301,845      39.64     197,730      8.193      6.251      79.89        606
Limited Documentation               121      30,859,316       4.26     255,036      8.156      6.277      80.78        615
-----------------------------------------------------------------------------------------------------------------------------
Total:                             3225     724,739,629     100.00     224,725      8.358      6.361      79.74        625
-----------------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Morgage
                                             Aggregate     Pool by       Avg      Weighted
                                  Number      Cut-off     Aggregate    Mortgage    Average   Weighted   Weighted
                                    of         Date        Cut-off       Loan       Gross     Average    Average    Weighted
                                 Mortgage    Principal    Principal   Principal   Interest     Gross    Original     Average
         Credit Score             Loans       Balance      Balance     Balance      Rate      Margin       LTV     FICO Score
-----------------------------------------------------------------------------------------------------------------------------

481--500                             11       1,910,960       0.26     173,724      9.790      7.146      71.14        500
501--520                            191      32,657,859       4.51     170,984      9.488      6.600      72.34        510
521--540                            197      35,704,442       4.93     181,241      9.357      6.732      71.36        530
541--560                            231      41,764,829       5.76     180,800      9.046      6.612      76.59        551
561--580                            256      51,644,813       7.13     201,738      8.815      6.609      78.19        571
581--600                            309      61,163,622       8.44     197,941      8.565      6.528      80.12        591
601--620                            443     100,912,425      13.92     227,793      8.251      6.291      81.08        610
621--640                            480     116,072,738      16.02     241,818      8.161      6.374      80.83        630
641--660                            378      95,543,907      13.18     252,762      8.073      6.350      81.22        650
661--680                            288      69,883,701       9.64     242,652      7.958      6.218      81.23        670
681--700                            167      46,387,438       6.40     277,769      7.942      5.974      81.06        690
701--720                            102      27,068,656       3.73     265,379      7.947      5.976      82.86        710
721--740                             70      17,679,086       2.44     252,558      7.903      6.075      82.79        730
741--760                             59      13,166,647       1.82     223,164      8.094      6.007      81.89        750
761--780                             26       8,771,245       1.21     337,356      7.585      6.210      80.75        770
781--800                             14       3,664,557       0.51     261,754      7.827      6.384      80.03        788
801--820                              3         742,707       0.10     247,569      7.174      6.288      81.60        807
-----------------------------------------------------------------------------------------------------------------------------
Total:                             3225     724,739,629     100.00     224,725      8.358      6.361      79.74        625
-----------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 625

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
CLINTON ARM                                                        3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Morgage
                                             Aggregate     Pool by       Avg      Weighted
                                  Number      Cut-off     Aggregate    Mortgage    Average   Weighted   Weighted
                                    of          Date       Cut-off       Loan       Gross     Average    Average    Weighted
 Range of Original Ltv Ratios    Mortgage    Principal    Principal   Principal   Interest     Gross    Original    Average
             (%)                  Loans       Balance      Balance     Balance      Rate      Margin       LTV     FICO Score
-----------------------------------------------------------------------------------------------------------------------------

10.01--15.00                          1         149,735       0.02     149,735      6.625      6.300      14.63        668
15.01--20.00                          3         403,988       0.06     134,663      8.598      6.401      18.20        552
20.01--25.00                          3         580,110       0.08     193,370      7.627      6.300      24.25        544
25.01--30.00                          5         565,846       0.08     113,169      7.952      6.267      27.00        592
30.01--35.00                          3         438,107       0.06     146,036      8.734      6.587      33.17        591
35.01--40.00                         15       2,565,767       0.35     171,051      8.437      6.161      38.94        595
40.01--45.00                         27       4,403,343       0.61     163,087      8.175      5.941      42.63        576
45.01--50.00                         34       5,461,675       0.75     160,637      8.379      6.639      47.85        591
50.01--55.00                         47       8,902,927       1.23     189,424      8.328      6.151      52.83        580
55.01--60.00                         51       8,593,639       1.19     168,503      8.201      6.411      58.00        582
60.01--65.00                        100      20,057,543       2.77     200,575      8.587      6.477      63.35        573
65.01--70.00                        153      31,059,468       4.29     203,003      8.791      6.518      68.98        571
70.01--75.00                        233      52,286,510       7.21     224,406      8.522      6.599      73.99        576
75.01--80.00                       1603     383,107,200      52.86     238,994      8.075      6.312      79.85        644
80.01--85.00                        360      75,836,493      10.46     210,657      8.708      6.339      84.55        604
85.01--90.00                        383      87,131,156      12.02     227,496      8.691      6.398      89.58        627
90.01--95.00                        157      35,089,730       4.84     223,501      8.976      6.337      94.71        645
95.01--100.00                        47       8,106,395       1.12     172,476      9.250      6.425      99.54        649
-----------------------------------------------------------------------------------------------------------------------------
Total:                             3225     724,739,629     100.00     224,725      8.358      6.361      79.74        625
-----------------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 79.74

DOCUMENTATION LEVEL--LTV OVER 85



                                                             % of
                                                           Morgage
                                              Aggregate    Pool by       Avg      Weighted
                                  Number       Cut-off    Aggregate    Mortgage    Average   Weighted   Weighted
                                    of           Date       Cut-off      Loan       Gross     Average    Average    Weighted
   Documentation Level--LTV      Mortgage     Principal   Principal   Principal   Interest    Gross     Original    Average
            over 85               Loans        Balance     Balance     Balance      Rate      Margin       LTV     FICO Score
-----------------------------------------------------------------------------------------------------------------------------

Full Documentation                  318      64,248,211      49.30     202,038      8.433      6.273      92.08        627
Stated Documentation                242      59,738,585      45.84     246,854      9.180      6.496      91.08        641
Limited Documentation                27       6,340,484       4.87     234,833      8.990      6.447      91.11        620
-----------------------------------------------------------------------------------------------------------------------------
Total:                              587     130,327,281     100.00     222,023      8.803      6.384      91.58        633
-----------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

      IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-
                                BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
CLINTON FIXED RATE                                                   982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                                % of
                                                              Mortgage
                                               Aggregate      Pool by       Avg      Weighted
                                  Number        Cut-off      Aggregate   Mortgage    Average    Weighted
                                    of            Date        Cut-off       Loan       Gross     Average    Weighted
                                 Mortgage      Principal     Principal   Principal   Interest   Original     Average
      Documentation Level          Loans        Balance       Balance     Balance      Rate        LTV     FICO Score
---------------------------------------------------------------------------------------------------------------------

Full Documentation                  444      55,149,259.00      50.05     124,210.     8.521      71.28        615
Stated Documentation                486      49,922,970.00      45.30     102,722.     9.771      51.35        648
Limited Documentation                52       5,122,443.00       4.65      98,509.     9.166      58.23        641
---------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672.00     100.00     112,215.     9.118      61.64        631
---------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                                % of
                                                              Mortgage
                                               Aggregate      Pool by       Avg      Weighted
                                  Number        Cut-off      Aggregate   Mortgage    Average    Weighted
                                    of            Date        Cut-off       Loan       Gross     Average    Weighted
                                 Mortgage      Principal     Principal   Principal   Interest   Original     Average
         Credit Score              Loans        Balance       Balance     Balance      Rate        LTV     FICO Score
---------------------------------------------------------------------------------------------------------------------

481--500                              2          71,523.00       0.06      35,761.    11.118      20.00        500
501--520                             35       4,270,616.00       3.88     122,018.     9.638      72.14        509
521--540                             38       5,176,175.00       4.70     136,215.     9.794      77.02        530
541--560                             38       4,915,754.00       4.46     129,362.     9.442      73.18        549
561--580                             42       5,159,587.00       4.68     122,847.     9.058      74.13        571
581--600                             78       9,030,993.00       8.20     115,782.     8.948      74.62        591
601--620                            118      12,259,600.00      11.13     103,895.     9.210      64.02        612
621--640                            212      21,195,298.00      19.23      99,978.     9.410      55.76        629
641--660                            160      16,236,886.00      14.73     101,481.     9.190      54.94        650
661--680                            102      12,919,060.00      11.72     126,657.     8.771      59.28        670
681--700                             70       8,069,692.00       7.32     115,281.     8.730      54.64        688
701--720                             37       4,318,104.00       3.92     116,706.     8.459      57.06        708
721--740                             28       3,328,053.00       3.02     118,859.     8.570      56.42        732
741--760                              8       1,191,438.00       1.08     148,930.     8.330      64.05        756
761--780                              6         482,061.00       0.44      80,343.    10.769      19.53        770
781--800                              5       1,336,680.00       1.21     267,336.     7.699      58.73        785
801--820                              3         233,153.00       0.21      77,718.     9.934      20.00        805
---------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672.00     100.00     112,215.     9.118      61.64        631
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 631

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
CLINTON FIXED RATE                                                   982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF ORIGINAL LTV RATIOS (%)



                                                                % of
                                                              Mortgage
                                               Aggregate      Pool by       Avg      Weighted
                                  Number        Cut-off      Aggregate   Mortgage    Average    Weighted
                                    of            Date        Cut-off       Loan       Gross     Average    Weighted
     Range of Original LTV       Mortgage      Principal     Principal   Principal   Interest   Original     Average
          Ratios (%)               Loans        Balance       Balance     Balance      Rate        LTV     FICO Score
---------------------------------------------------------------------------------------------------------------------

<= 10.00                              4         150,925.00       0.14      37,731.    11.414       9.55        661
10.01--15.00                         13         656,291.00       0.60      50,484.    11.222      14.57        662
15.01--20.00                        434      27,384,040.00      24.85      63,097.    11.527      19.98        655
20.01--25.00                         12       1,033,847.00       0.94      86,154.     9.369      21.92        668
25.01--30.00                          3         392,589.00       0.36     130,863.     8.750      26.50        675
30.01--35.00                          5         820,389.00       0.74     164,078.     7.220      32.50        660
35.01--40.00                          5       1,005,212.00       0.91     201,042.     8.680      36.72        649
40.01--45.00                         12       1,634,230.00       1.48     136,186.     7.649      42.15        616
45.01--50.00                         14       2,094,298.00       1.90     149,593.     7.700      48.17        631
50.01--55.00                          6         889,737.00       0.81     148,290.     8.564      53.31        586
55.01--60.00                         21       3,230,754.00       2.93     153,845.     7.381      57.78        624
60.01--65.00                         22       2,993,313.00       2.72     136,060.     8.709      63.51        578
65.01--70.00                         39       6,476,654.00       5.88     166,068.     8.320      68.31        625
70.01--75.00                         54       7,497,385.00       6.80     138,840.     8.103      73.81        600
75.01--80.00                        156      25,447,537.00      23.09     163,125.     8.186      79.62        633
80.01--85.00                         77      11,963,705.00      10.86     155,373.     8.415      84.27        616
85.01--90.00                         63      10,851,456.00       9.85     172,245.     8.588      89.33        623
90.01--95.00                         24       3,533,084.00       3.21     147,212.     8.506      93.96        624
95.01--100.00                        18       2,139,228.00       1.94     118,846.     8.975      99.52        619
---------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672.00     100.00     112,215.     9.118      61.64        631
---------------------------------------------------------------------------------------------------------------------


Minimum: 8.42
Maximum: 100.00
Weighted Average: 61.64

DOCUMENTATION LEVEL--LTV OVER 85



                                                                % of
                                                              Mortgage
                                               Aggregate      Pool by       Avg      Weighted
                                  Number        Cut-off      Aggregate   Mortgage    Average    Weighted
                                    of            Date        Cut-off       Loan       Gross     Average    Weighted
   Documentation Level--LTV      Mortgage      Principal     Principal   Principal   Interest   Original     Average
            over 85                Loans        Balance       Balance     Balance      Rate        LTV     FICO Score
---------------------------------------------------------------------------------------------------------------------

Full Documentation                   81      12,428,603.00      75.22     153,440.     8.442      91.97        613
Stated Documentation                 20       3,550,257.00      21.49     177,513.     9.185      90.37        661
Limited Documentation                 4         544,907.00       3.30     136,227.     9.025      92.48        601
---------------------------------------------------------------------------------------------------------------------
Total:                              105      16,523,768.00     100.00     157,369.     8.621      91.64        623
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

  IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

               IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

COMBINED ORIGINAL LOAN-TO-VALUE RATIO GREATER OR EQUAL 80



                                  Number                              % of
 Combined Original                  of         Total                 Total     Wtd     Wtd             Wtd
Loan-to-Value Ratio              Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Greater or Equal 80                Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

80.00--85.00                       1,972    447,277,836   226,814     53.57   3.13    8.198   93.13    638
85.01--90.00                         449     98,133,687   218,561     11.75   3.18    8.684   88.79    627
90.01--95.00                         194     39,254,353   202,342      4.70   2.89    8.969   89.39    643
95.01--100.00                        508     38,338,430    75,469      4.59   3.87   10.898   21.14    652
Other                              1,084    211,929,995   195,507     25.38   3.04    8.367   83.92    592
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
 Combined Original                Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct       Pct
Loan-to-Value Ratio               Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd    Interest
Greater or Equal 80               LTV     LTV     DTI     Doc     Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

80.00--85.00                     80.89   80.89   43.13   36.35   94.43    77.01    38.14     0.00     25.45
85.01--90.00                     89.43   89.55   43.00   46.88   85.72    78.24    66.65     0.15     17.99
90.01--95.00                     93.36   94.65   42.79   59.42   76.58    82.54    51.87     1.61     15.66
95.01--100.00                    41.27   99.87   43.50   35.71   99.13    81.30    16.86    73.28      0.86
Other                            67.87   67.92   41.84   45.71   93.45    78.80    82.61     0.14     11.58
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49     19.46
------------------------------------------------------------------------------------------------------------


SECOND HOME



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
                                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Second Home                        Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

Second Home                           53     12,666,712   238,995      1.52   2.67    8.902   97.66    652
Other                              4,154    822,267,589   197,946     98.48   3.14    8.451   86.63    626
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
                                  Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct       Pct
                                  Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd    Interest
Second Home                       LTV     LTV     DTI     Doc     Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

Second Home                      81.84   82.77   43.72   34.62    0.00    58.11    30.46     1.16     14.23
Other                            77.28   80.09   42.77   41.11   93.96    78.37    52.79     3.53     19.54
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49     19.46
------------------------------------------------------------------------------------------------------------


NON-OWNER OCCUPIED



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
Non-Owner                        Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Occupied                           Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

Non Owner Occupied                   294     49,653,254   168,889      5.95   2.86    9.026   88.75    652
Other                              3,913    785,281,047   200,685     94.05   3.15    8.422   86.68    624
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
                                  Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct       Pct
Non-Owner                         Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd    Interest
Occupied                          LTV     LTV     DTI     Doc     Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

Non Owner Occupied               81.84   81.90   39.87   35.11    0.00    59.85    51.46     0.07      3.59
Other                            77.07   80.02   42.97   41.39   98.39    79.21    52.51     3.71     20.47
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49     19.46
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

CASHOUT LOANS



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
                                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
        Cashout Loans              Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

Refinance--Cashout                 2,110    437,916,030   207,543     52.45   3.11    8.465   85.34    603
Other                              2,097    397,018,271   189,327     47.55   3.17    8.450   88.41    651
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                           Wtd
                                   Wtd     Avg
                                   Avg    Comb    Wtd      Pct    Pct      Pct      Pct       Pct      Pct
                                  Orig    Orig    Avg     Full   Owner   Single   Cashout     2nd   Interest
        Cashout Loans              LTV     LTV    DTI      Doc    Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

Refinance--Cashout               77.26   77.84   42.40   48.31   93.28    81.94    100.00    0.76    14.25
Other                            77.45   82.65   43.21   32.97   91.71    73.79      0.00    6.51    25.21
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06     52.45    3.49    19.46
------------------------------------------------------------------------- ----------------------------------


STATED DOC



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
                                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
          Stated Doc               Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

Stated Doc                         2,137    456,501,438   213,618     54.68   3.12    8.630   89.06    641
Other                              2,070    378,432,863   182,818     45.32   3.15    8.251   84.07    608
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                           Wtd
                                   Wtd     Avg
                                   Avg    Comb    Wtd      Pct    Pct      Pct      Pct       Pct      Pct
                                  Orig    Orig    Avg     Full   Owner   Single   Cashout     2nd   Interest
          Stated Doc               LTV     LTV    DTI      Doc    Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

Stated Doc                       76.47   80.07   43.49    0.00   92.03    76.42    45.75     4.51     20.31
Other                            78.42   80.20   41.95   90.49   93.15    80.04    60.53     2.27     18.44
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49     19.46
------------------------------------------------------------------------------------------------------------


2-4 FAMILY



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
                                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
          2-4 Family               Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

2-4 Family                           300     78,056,397   260,188      9.35   2.96    8.502   84.29    645
Other                              3,907    756,877,904   193,724     90.65   3.15    8.454   87.06    624
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                           Wtd
                                   Wtd     Avg
                                   Avg    Comb    Wtd      Pct    Pct      Pct      Pct       Pct      Pct
                                  Orig    Orig    Avg     Full   Owner   Single   Cashout     2nd   Interest
          2-4 Family               LTV     LTV    DTI      Doc    Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

2-4 Family                       75.46   78.31   42.95   31.73   79.65     0.00    48.97     3.57     16.92
Other                            77.55   80.32   42.77   41.97   93.87    86.11    52.81     3.49     19.73
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49     19.46
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

FICO SCORE LESS THAN 650



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
              FICO               Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
      Score Less than 650          Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

< = 500                               13      1,982,483   152,499      0.24   2.54    9.838   96.39    500
500--524                             266     44,459,000   167,139      5.32   3.10    9.532   88.11    512
525--549                             314     53,891,969   171,630      6.45   2.90    9.290   86.69    537
550--574                             349     62,693,438   179,637      7.51   2.91    8.943   90.91    562
575--599                             457     85,015,577   186,030     10.18   3.18    8.664   88.60    588
600--624                             736    149,312,831   202,871     17.88   3.29    8.344   87.63    613
625--649                             818    160,006,052   195,606     19.16   3.16    8.336   85.21    636
Other                              1,254    277,572,951   221,350     33.24   3.13    8.074   85.54    690
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                           Wtd
                                   Wtd     Avg
                                   Avg    Comb    Wtd      Pct     Pct      Pct      Pct      Pct      Pct
              FICO                Orig    Orig    Avg     Full    Owner   Single   Cashout    2nd   Interest
      Score Less than 650          LTV     LTV    DTI      Doc     Occ    Family     Refi    Lien     Only
------------------------------------------------------------------------------------------------------------

< = 500                          69.30   72.18   43.10   84.89   100.00   100.00    88.53    3.61      0.00
500--524                         71.83   71.83   42.64   67.53    97.82    81.23    90.31    0.00      0.49
525--549                         73.26   73.26   41.82   52.78    98.37    81.65    84.13    0.00      0.00
550--574                         77.49   77.64   42.39   56.36    96.82    88.36    80.26    0.19      0.40
575--599                         79.59   80.25   42.59   54.48    93.90    84.20    73.85    0.82      4.83
600--624                         78.60   81.30   42.50   51.18    93.96    81.59    53.67    3.37     24.67
625--649                         77.32   81.71   43.03   34.36    91.22    75.00    43.06    5.49     21.59
Other                            77.72   81.84   43.16   24.95    89.12    72.36    31.90    5.21     31.18
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02    92.54    78.06    52.45    3.49     19.46
------------------------------------------------------------------------------------------------------------


IO LOANS



                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
                                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
           IO Loans                Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

Interest Only Loans                  531    162,508,006   306,041     19.46   3.42    7.762   97.04    659
Other                              3,676    672,426,295   182,923     80.54   3.07    8.626   84.33    618
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                           Wtd
                                   Wtd     Avg
                                   Avg    Comb    Wtd      Pct    Pct      Pct      Pct      Pct      Pct
                                  Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd   Interest
           IO Loans                LTV     LTV    DTI      Doc    Occ    Family     Refi    Lien     Only
-----------------------------------------------------------------------------------------------------------

Interest Only Loans              80.60   80.60   43.27   37.24   97.79    75.87    38.41    0.00    100.00
Other                            76.57   80.02   42.67   41.93   91.27    78.59    55.84    4.34      0.00
-----------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45    3.49     19.46
-----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)




                                  Number                              % of
       Range of Cut-off             of         Total                 Total     Wtd     Wtd             Wtd
        Date Principal           Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
         Balances ($)              Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

< = 50,000                           248      9,283,424    37,433      1.11   3.59   11.173   12.17    634
50,001--75,000                       368     23,374,011    63,516      2.80   3.43   10.133   45.67    619
75,001--100,000                      411     36,041,776    87,693      4.32   3.20    9.306   60.46    613
400,000--500,000                     222     99,385,276   447,681     11.90   3.42    8.040   95.55    640
500,001--600,000                      89     48,760,140   547,867      5.84   3.45    8.053   89.88    645
>600,000                              58     40,787,491   703,233      4.89   3.52    8.220   98.40    653
Other                              2,811    577,302,183   205,373     69.14   3.01    8.417   88.73    621
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
       Range of Cut-off           Avg     Comb    Wtd      Pct    Pct      Pct      Pct      Pct      Pct
        Date Principal            Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd    Interest
         Balances ($)             LTV     LTV     DTI      Doc    Occ    Family     Refi     Lien     Only
------------------------------------------------------------------------------------------------------------

< = 50,000                       33.03   93.86   40.37   37.18   92.24    85.25    23.21    75.98     0.00
50,001--75,000                   57.24   85.80   39.96   49.77   87.53    85.79    40.31    35.71     0.31
75,001--100,000                  70.34   82.48   40.08   53.24   88.96    85.14    45.48    15.17     2.44
400,000--500,000                 80.95   80.95   43.92   29.64   95.37    74.73    47.03     0.00    33.91
500,001--600,000                 81.49   81.49   43.16   32.53   96.48    67.81    49.55     0.00    35.39
>600,000                         81.77   81.77   42.38   35.78   85.65    51.24    54.48     0.00    30.35
Other                            78.04   79.16   42.91   43.00   92.63    80.53    54.88     1.44    17.01
------------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49    19.46
------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

CURRENT MORTGAGE RATES (%)




                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
       Current Mortgage          Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
            Rates (%)              Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

9.5--10                              471     76,554,417   162,536     50.81   2.97    9.771   87.92    580
10.01--10.5                          178     23,779,929   133,595     15.78   3.01   10.296   84.62    580
10.51-11                             203     22,321,440   109,958     14.81   3.10   10.779   66.91    596
11.01-12                             236     20,114,979    85,233     13.35   3.65   11.542   24.45    613
12.01-13                              95      6,237,503    65,658      4.14   3.96   12.469   18.06    632
>13                                   37      1,668,819    45,103      1.11   3.99   13.477    0.00    628
----------------------------------------------------------------------------------------------------------
Total:                             1,220    150,677,086   123,506    100.00   3.14   10.392   71.95    589
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
                                  Avg     Comb    Wtd      Pct    Pct      Pct      Pct       Pct       Pct
       Current Mortgage           Orig    Orig    Avg     Full   Owner   Single   Cashout     2nd    Interest
            Rates (%)             LTV     LTV     DTI      Doc    Occ    Family     Refi     Lien      Only
------------------------------------------------------------------------------------------------------------

9.5--10                          79.23   81.53   42.89   39.29   85.69    78.63    67.99     2.87      4.67
10.01--10.5                      77.51   84.26   42.96   38.73   80.48    82.66    55.44     8.42      2.61
10.51-11                         69.28   86.27   41.51   38.74   87.49    81.57    46.58    21.30      0.46
11.01-12                         38.58   90.57   43.09   30.61   96.80    74.21    28.91    65.00      0.00
12.01-13                         32.62   97.69   43.66   14.54   90.48    77.62    17.52    81.36      0.00
>13                              21.85   99.71   43.42    6.64   97.14    69.55     7.19    97.14      0.00
------------------------------------------------------------------------------------------------------------
Total:                           69.49   84.74   42.76   36.58   86.94    78.97    54.86    19.06      2.85
------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

COMBINED ORIGINAL LOAN-TO-VALUE RATIO (%)




                                  Number                             % of
          Combined                  of         Total                 Total     Wtd     Wtd             Wtd
          Original               Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
   Loan-to-Value Ratio (%)         Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

80-85                              1,972    447,277,836   226,814     71.79   3.13    8.198   93.13    638
85-90                                449     98,133,687   218,561     15.75   3.18    8.684   88.79    627
90-95                                194     39,254,353   202,342      6.30   2.89    8.969   89.39    643
95-100                               508     38,338,430    75,469      6.15   3.87   10.898   21.14    652
----------------------------------------------------------------------------------------------------------
Total:                             3,123    623,004,306   199,489    100.00   3.17    8.489   87.78    638
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
          Combined                Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct      Pct
          Original               Orig     Orig    Avg     Full   Owner   Single   Cashout    2nd    interest
   Loan-to-Value Ratio (%)        LTV     LTV     DTI     Doc     Occ    Family     Refi    Lien     Only
------------------------------------------------------------------------------------------------------------

80-85                            80.89   80.89   43.13   36.35   94.43    77.01    38.14     0.00     25.45
85-90                            89.43   89.55   43.00   46.88   85.72    78.24    66.65     0.15     17.99
90-95                            93.36   94.65   42.79   59.42   76.58    82.54    51.87     1.61     15.66
95-100                           41.27   99.87   43.50   35.71   99.13    81.30    16.86    73.28      0.86
------------------------------------------------------------------------------------------------------------
Total:                           80.58   84.29   43.11   39.42   92.23    77.81    42.19     4.63     22.15
------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

PROPERTY TYPE




                                  Number                              % of
                                    of         Total                 Total     Wtd     Wtd             Wtd
                                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
         Property Type             Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
----------------------------------------------------------------------------------------------------------

Condo                                270     52,023,168   192,678      6.23   3.19    8.519   91.66    641
2-4 Family                           300     78,056,397   260,188      9.35   2.96    8.502   84.29    645
Other                              3,637    704,854,736   193,801     84.42   3.15    8.449   86.72    623
----------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
----------------------------------------------------------------------------------------------------------


                                          Wtd
                                  Wtd     Avg
                                  Avg     Comb    Wtd      Pct    Pct      Pct      Pct      Pct      Pct
                                  Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd   Interest
         Property Type            LTV     LTV     DTI      Doc    Occ    Family     Refi    Lien     Only
-----------------------------------------------------------------------------------------------------------

Condo                            77.52   80.96   42.52   38.86   88.06     0.00    31.14    4.30    26.09
2-4 Family                       75.46   78.31   42.95   31.73   79.65     0.00    48.97    3.57    16.92
Other                            77.55   80.27   42.79   42.20   94.29    92.47    54.41    3.43    19.26
-----------------------------------------------------------------------------------------------------------
Total:                           77.35   80.13   42.79   41.02   92.54    78.06    52.45    3.49    19.46
-----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

OCCUPANCY




              Number                              % of
                of         Total                 Total     Wtd     Wtd             Wtd
             Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Occupancy      Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
--------------------------------------------------------------------------------------

Second            53     12,666,712   238,995      1.52   2.67    8.902   97.66    652
Investment       294     49,653,254   168,889      5.95   2.86    9.026   88.75    652
Other          3,860    772,614,335   200,159     92.54   3.16    8.414   86.50    624
--------------------------------------------------------------------------------------
Total:         4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
--------------------------------------------------------------------------------------


                       Wtd
              Wtd     Avg
              Avg     Comb    Wtd      Pct     Pct      Pct      Pct      Pct      Pct
              Orig    Orig    Avg     Full    Owner   Single   Cashout    2nd   Interest
Occupancy     LTV      LTV    DTI      Doc     Occ    Family     Refi    Lien     Only
----------------------------------------------------------------------------------------

Second       81.84   82.77   43.72   34.62     0.00    58.11    30.46    1.16    14.23
Investment   81.84   81.90   39.87   35.11     0.00    59.85    51.46    0.07     3.59
Other        76.99   79.97   42.96   41.50   100.00    79.56    52.87    3.75    20.57
----------------------------------------------------------------------------------------
Total:       77.35   80.13   42.79   41.02    92.54    78.06    52.45    3.49    19.46
----------------------------------------------------------------------------------------


ADJUSTMENT TYPE




                   Number                              % of
                     of         Total                 Total     Wtd     Wtd              Wtd
                  Mortgage     Current     Average   Current    Avg     Avg      Pct     Avg
Adjustment Type     Loans      Balance     Balance   Balance    Age   Coupon     ARM    FICO
--------------------------------------------------------------------------------------------

Fixed Rate            982    110,194,672   112,215     13.20   3.35    9.118     0.00    631
ARM                 3,225    724,739,629   224,725     86.80   3.10    8.358   100.00    625
--------------------------------------------------------------------------------------------
Total:              4,207    834,934,301   198,463    100.00   3.14    8.458    86.80    626
--------------------------------------------------------------------------------------------


                            Wtd
                   Wtd     Avg
                   Avg     Comb    Wtd     Pct     Pct      Pct      Pct       Pct      Pct
                   Orig    Orig    Avg     Full   Owner   Single   Cashout     2nd   Interest
Adjustment Type    LTV      LTV    DTI     Doc     Occ    Family     Refi     Lien     Only
---------------------------------------------------------------------------------------------

Fixed Rate        61.64   82.69   41.85   50.05   94.66    80.97    58.24    26.47     4.37
ARM               79.74   79.74   42.93   39.64   92.21    77.62    51.57     0.00    21.76
---------------------------------------------------------------------------------------------
Total:            77.35   80.13   42.79   41.02   92.54    78.06    52.45     3.49    19.46
---------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION BY BALANCE




                  Number                             % of
  Geographic       of         Total                 Total     Wtd     Wtd             Wtd
Distribution    Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
  by Balance      Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
-----------------------------------------------------------------------------------------

California          915    271,051,190   296,231     32.46   3.50    8.166   90.24    641
Georgia              92     13,333,788   144,932      1.60   3.04    8.939   88.79    614
Massachusetts        90     20,615,447   229,061      2.47   3.09    8.671   86.10    617
New York            139     41,732,227   300,232      5.00   2.54    8.075   74.79    650
Other             2,971    488,201,649   164,322     58.47   2.99    8.631   85.90    617
-----------------------------------------------------------------------------------------
Total:            4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
-----------------------------------------------------------------------------------------


                          Wtd
                 Wtd     Avg
  Geographic     Avg     Comb    Wtd      Pct    Pct      Pct      Pct      Pct      Pct
Distribution     Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd   Interest
  by Balance     LTV      LTV    DTI      Doc    Occ    Family     Refi    Lien     Only
------------------------------------------------------------------------------------------

California      75.72   80.11   43.43   30.43   93.29    79.64     44.22   5.54    32.79
Georgia         82.06   82.98   40.62   60.86   90.80    86.24     57.16   1.14    16.79
Massachusetts   80.29   81.80   44.17   51.67   94.14    70.85     72.76   1.90     7.82
New York        76.09   76.69   42.92   33.61   95.45    53.39     51.02   0.76    17.12
Other           78.11   80.29   42.41   46.53   91.85    79.38     56.15   2.72    12.83
------------------------------------------------------------------------------------------
Total:          77.35   80.13   42.79   41.02   92.54    78.06     52.45   3.49    19.46
------------------------------------------------------------------------------------------


Number of States Represented: 50

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
DECLARATION                                                        4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

BACK RATIO GREATER THAN 50




                         Number                              % of
                           of         Total                 Total     Wtd     Wtd             Wtd
        Back            Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Ratio Greater Than 50     Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
-------------------------------------------------------------------------------------------------

>50                         394     81,816,229   207,655      9.80   3.15    8.433   88.05    611
Other                     3,813    753,118,073   197,513     90.20   3.13    8.461   86.67    628
-------------------------------------------------------------------------------------------------
Total:                    4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
-------------------------------------------------------------------------------------------------


                                 Wtd
                         Wtd     Avg
                         Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct      Pct
        Back             Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd   Interest
Ratio Greater Than 50    LTV      LTV    DTI     Doc     Occ    Family     Refi    Lien     Only
--------------------------------------------------------------------------------------------------

>50                     77.40   79.48   52.73   61.19   90.14    77.65    57.57    2.59     12.23
Other                   77.35   80.20   41.70   38.82   92.80    78.11    51.89    3.59     20.25
--------------------------------------------------------------------------------------------------
Total:                  77.35   80.13   42.79   41.02   92.54    78.06    52.45    3.49     19.46
--------------------------------------------------------------------------------------------------


Minimum: 1.78
Maximum: 59.92
Weighted Average: 42.79

SILENT SECONDS



                  Number                              % of
                    of         Total                 Total     Wtd     Wtd             Wtd
                 Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Silent Seconds     Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
------------------------------------------------------------------------------------------

SS                 1,217    289,707,200   238,050     34.70   3.18    8.011   96.66    658
Other              2,990    545,227,101   182,350     65.30   3.12    8.696   81.56    609
------------------------------------------------------------------------------------------
Total:             4,207    834,934,301   198,463    100.00   3.14    8.458   86.80    626
------------------------------------------------------------------------------------------


                          Wtd
                  Wtd     Avg
                  Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct      Pct
                  Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd   Interest
Silent Seconds    LTV      LTV    DTI     Doc     Occ    Family     Refi    Lien     Only
------------------------------------------------------------------------------------------

SS               80.13   80.13   43.90   32.04   97.54    75.73    16.72    0.00     33.01
Other            75.88   80.13   42.19   45.78   89.88    79.30    71.44    5.35     12.26
------------------------------------------------------------------------------------------
Total:           77.35   80.13   42.79   41.02   92.54    78.06    52.45    3.49     19.46
------------------------------------------------------------------------------------------


LIEN POSITION



            Number                              % of
              of         Total                 Total     Wtd     Wtd             Wtd
  Lien     Mortgage     Current     Average   Current    Avg     Avg     Pct     Avg
Position     Loans      Balance     Balance   Balance    Age   Coupon    ARM    FICO
------------------------------------------------------------------------------------

1st Lien     3,747    805,760,512   215,042     96.51   3.10     8.349  89.94    625
2nd Lien       460     29,173,789    63,421      3.49   4.17    11.483   0.00    657
------------------------------------------------------------------------------------
Total:       4,207    834,934,301   198,463    100.00   3.14     8.458  86.80    626
------------------------------------------------------------------------------------


                    Wtd
            Wtd     Avg
            Avg     Comb    Wtd     Pct     Pct      Pct      Pct      Pct      Pct
  Lien      Orig    Orig    Avg     Full   Owner   Single   Cashout    2nd   Interest
Position    LTV      LTV    DTI     Doc     Occ    Family     Refi    Lien     Only
-------------------------------------------------------------------------------------

1st Lien   79.43   79.43   42.75   41.68   92.29    78.08    53.93      0.00   20.17
2nd Lien   20.01   99.52   43.71   22.77   99.38    77.58    11.47    100.00    0.00
-------------------------------------------------------------------------------------
Total:     77.35   80.13   42.79   41.02   92.54    78.06    52.45      3.49   19.46
-------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



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IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE ORIGINAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate
                                              Cut-off      Cut-off                 Weighted   Weighted
                                  Number        Date         Date                   Average    Average           Weighted
                                    of       Principal    Principal     Average      Gross    Combined            Average
Range of Cut-off Date Original   Mortgage     Original     Original    Original    Interest   Original             FICO
         Balances ($)              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0-25,000.00                           31        675,138       0.08     21,778.65    11.022      99.81               650
25,000.01--50,000.00                 214      8,482,629       1.01     39,638.45    11.213      93.70               634
50,000.01--75,000.00                 368     23,364,521       2.79     63,490.55    10.144      85.84               619
75,000.01--100,000.00                411     36,060,605       4.31     87,738.70     9.309      82.44               613
100,000.01--125,000.00               446     50,451,346       6.03    113,119.61     9.035      79.84               607
125,000.01--150,000.00               403     55,685,410       6.66    138,177.20     8.773      78.31               608
150,000.01--175,000.00               353     57,282,550       6.85    162,273.51     8.639      77.80               611
175,000.01--200,000.00               344     64,740,047       7.74    188,197.81     8.465      78.49               618
200,000.01--225,000.00               278     59,176,531       7.08    212,865.22     8.356      79.33               625
225,000.01--250,000.00               242     57,457,300       6.87    237,426.86     8.349      78.95               620
250,000.01--275,000.00               182     47,760,756       5.71    262,421.74     8.205      79.85               619
275,000.01--300,000.00               165     47,557,513       5.69    288,227.35     8.162      79.12               623
300,000.01--333,700.00               168     53,154,479       6.36    316,395.71     8.178      79.46               629
333,700.01--350,000.00                70     23,922,110       2.86    341,744.43     8.218      81.05               625
350,000.01--600,000.00               474    209,493,984      25.06    441,970.43     8.059      80.76               643
600,000.01 -1,000,000.00              58     40,828,321       4.88    703,936.57     8.220      81.77               653
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    836,093,239     100.00    198,738.59     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Minimum: 14,800
Maximum: 1,000,000
Average: 198,739

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
     Range of Cut-off Date       Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Principal Balances ($)         Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0-25,000.00                           31        673,662       0.08     21,731.04    11.023      99.81               650
25,000.01--50,000.00                 217      8,609,762       1.03     39,676.32    11.184      93.39               633
50,000.01--75,000.00                 368     23,374,011       2.80     63,516.33    10.133      85.80               619
75,000.01--100,000.00                411     36,041,776       4.32     87,692.89     9.306      82.48               613
100,000.01--125,000.00               446     50,423,050       6.04    113,056.17     9.043      79.89               607
125,000.01--150,000.00               401     55,346,959       6.63    138,022.34     8.770      78.26               608
150,000.01--175,000.00               353     57,212,084       6.85    162,073.89     8.643      77.83               611
175,000.01--200,000.00               344     64,684,246       7.75    188,035.60     8.466      78.47               617
200,000.01--225,000.00               279     59,356,344       7.11    212,746.75     8.352      79.43               626
225,000.01--250,000.00               241     57,191,618       6.85    237,309.62     8.343      78.87               620
250,000.01--275,000.00               183     47,999,943       5.75    262,294.77     8.193      79.91               619
275,000.01--300,000.00               163     46,951,780       5.62    288,047.73     8.179      79.05               623
300,000.01--333,700.00               168     53,084,658       6.36    315,980.11     8.178      79.46               629
333,700.01--350,000.00                72     24,599,555       2.95    341,660.48     8.190      81.02               626
350,000.01--600,000.00               472    208,597,363      24.98    441,943.57     8.061      80.76               643
600,000.01 -1,000,000.00              58     40,787,491       4.89    703,232.61     8.220      81.77               653
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
    Range of Gross Interest      Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Rates (%)               Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

5.000--5.999                           4      1,142,614       0.14    285,653.40     5.897      68.44               662
6.000--6.999                         260     68,694,226       8.23    264,208.56     6.728      75.82               660
7.000--7.999                       1,139    288,353,399      34.54    253,163.65     7.616      78.95               646
8.000--8.999                       1,232    256,222,317      30.69    207,972.66     8.530      79.63               620
9.000--9.999                         809    144,431,178      17.30    178,530.50     9.514      81.43               595
10.000--10.999                       388     47,407,285       5.68    122,183.72    10.501      85.15               588
11.000--11.999                       236     20,330,593       2.43     86,146.58    11.514      89.99               612
12.000--12.999                       100      6,606,772       0.79     66,067.72    12.431      97.81               633
13.000--13.999                        37      1,637,585       0.20     44,259.05    13.410      99.71               628
14.000--14.999                         2        108,333       0.01     54,166.54    14.151     100.00               637
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
     Stated Original Term        Mortgage    Principal    Principal     Average    Interest   Original             FICO
           (months)                Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1--120                                 7        496,311       0.06     70,901.60     8.252      64.85               631
121--240                             401     27,845,915       3.34     69,441.18    11.015      95.39               654
241--360                           3,799    806,592,075      96.61    212,316.95     8.370      79.61               625
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                 Average    Average            Weighted
                                    of         Date          Date                    Gross    Combined            Average
   Range of Stated Remaining     Mortgage   Principal     Principal     Average    Interest   Original             FICO
        Terms (months)             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE    Score
-------------------------------------------------------------------------------------------------------------------------

61--120                                7        496,311       0.06     70,901.60     8.252      64.85               631
121--180                             377     25,855,356       3.10     68,581.85    11.213      96.89               656
181--240                              24      1,990,559       0.24     82,939.96     8.449      75.91               634
241--300                               3        245,515       0.03     81,838.40     8.559      84.90               622
301--360                           3,796    806,346,560      96.58    212,420.06     8.370      79.61               625
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351

MORTGAGE INSURANCE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined           Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Mortgage Insurance          Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

No                                 4,207    834,934,301     100.00    198,463.11     8.458      80.13              626
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13              626
-------------------------------------------------------------------------------------------------------------------------


LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
             Lien                Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Position               Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1st Lien                           3,747    805,760,512      96.51    215,041.50     8.349      79.43              625
2nd Lien                             460     29,173,789       3.49     63,421.28    11.483      99.52              657
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13              626
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SEASONING



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Seasoning              Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0                                      2        542,000      0.06     271,000.00     8.514      75.23               609
1                                    196     39,070,474      4.68     199,339.15     8.478      79.18               620
2                                  1,522    309,225,630     37.04     203,170.58     8.422      79.58               628
3                                  1,264    238,861,468     28.61     188,972.68     8.499      80.44               623
4                                    629    131,346,951     15.73     208,818.68     8.467      80.22               627
5                                    292     55,355,979      6.63     189,575.27     8.620      81.45               627
6                                    118     21,495,847      2.57     182,168.19     8.608      81.30               619
7                                     74     16,027,384      1.92     216,586.27     8.192      81.90               633
8                                     56     10,385,884      1.24     185,462.21     8.314      80.55               619
9                                     36      8,323,881      1.00     231,218.92     8.127      78.99               645
10                                    15      3,977,689      0.48     265,179.30     7.377      80.57               668
11                                     2        247,855      0.03     123,927.29     8.983      88.03               683
12                                     1         73,261      0.01      73,260.66    10.240      99.97               615
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301    100.00     198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date        Date                    Gross     Combined           Average
Range of Combined Original LTV   Mortgage    Principal    Principal    Average     Interest   Original             FICO
        Ratios (%)                Loans     Balance ($)    Balance     Balance     Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

<= 25.00                              12      1,652,049      0.20     137,670.77      7.695     21.36               593
25.01--30.00                           7        789,898      0.09     112,842.63      7.722     27.12               614
30.01--35.00                           8      1,258,495      0.15     157,311.89      7.747     32.73               636
35.01--40.00                          19      3,272,611      0.39     172,242.70      8.493     38.59               594
40.01--45.00                          39      6,037,573      0.72     154,809.56      8.033     42.50               587
45.01--50.00                          48      7,555,973      0.90     157,416.10      8.191     47.94               602
50.01--55.00                          53      9,792,664      1.17     184,767.25      8.349     52.87               581
55.01--60.00                          72     11,824,393      1.42     164,227.68      7.977     57.94               593
60.01--65.00                         122     23,050,855      2.76     188,941.43      8.603     63.37               574
65.01--70.00                         192     37,536,122      4.50     195,500.64      8.710     68.87               581
70.01--75.00                         288     60,082,262      7.20     208,618.97      8.471     73.95               580
75.01--80.00                       1,759    408,554,737     48.93     232,265.34      8.082     79.84               643
80.01--85.00                         437     87,800,198     10.52     200,915.79      8.668     84.51               606
85.01--90.00                         449     98,133,687     11.75     218,560.55      8.684     89.55               627
90.01--95.00                         194     39,254,353      4.70     202,342.02      8.969     94.65               643
95.01--100.00                        508     38,338,430      4.59      75,469.35     10.898     99.87               652
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301    100.00     198,463.11      8.458     80.13               626
-------------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Occupancy              Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Primary                            3,860    772,614,335      92.54    200,159.15     8.414      79.97               624
Investment                           294     49,653,254       5.95    168,888.62     9.026      81.90               652
Second Home                           53     12,666,712       1.52    238,994.56     8.902      82.77               652
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Property Type             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Single Family Residence            3,421    651,774,116      78.06    190,521.52     8.460      80.29               622
2-4 Family                           300     78,056,397       9.35    260,187.99     8.502      78.31               645
Planned Unit Development             216     53,080,620       6.36    245,743.61     8.308      80.00               628
Condo                                270     52,023,168       6.23    192,678.40     8.519      80.96               641
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Loan Purpose             Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                 2,110    437,916,030      52.45    207,543.14     8.465      77.84               603
Purchase                           1,871    357,138,841      42.77    190,881.26     8.464      82.85               656
Refinance--Rate Term                 226     39,879,430       4.78    176,457.66     8.331      80.94               614
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number       Cut-off     Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Documentation Level          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Full Documentation                 1,897    342,451,104      41.02    180,522.46     8.246      80.02               607
Stated Documentation               2,137    456,501,438      54.68    213,617.89     8.630      80.07               641
Limited Documentation                173     35,981,758       4.31    207,987.04     8.300      81.92               619
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PRODUCT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
            Product                Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

10 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                    1        186,686       0.02    186,686.00     8.000      80.00               641
10 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                    1         92,000       0.01     92,000.00     7.250      80.00               652
10 Year IO--ARM 5 Yr Fixed/6
   Month Adjustable                    2        477,439       0.06    238,719.50     8.188      83.29               646
10 Year IO--Fixed Rate                 1        331,000       0.04    331,000.00     6.750      79.95               638
5 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                  421    132,088,152      15.82    313,748.58     7.780      80.77               658
5 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                   81     22,362,444       2.68    276,079.55     7.772      80.65               666
5 Year IO--ARM 5 Yr Fixed/6
   Month Adjustable                    5      1,418,400       0.17    283,680.00     6.921      76.10               686
5 Year IO--Fixed Rate                 14      4,480,985       0.54    320,070.34     7.527      77.12               657
3 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                    3        639,500       0.08    213,166.67     7.938      77.28               631
2 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                    2        431,400       0.05    215,700.00     7.225      79.45               606
ARM 1 Yr Fixed/6 Month
   Adjustable                          2        542,838       0.07    271,419.18     7.742      84.95               602
ARM 2 Yr Fixed/6 Month
   Adjustable                      1,993    441,049,959      52.82    221,299.53     8.472      79.55               620
ARM 3 Yr Fixed/6 Month
   Adjustable                        699    122,518,576      14.67    175,276.93     8.713      79.26               601
ARM 5 Yr Fixed/6 Month
   Adjustable                         12      1,990,884       0.24    165,906.98     8.472      76.09               631
Fixed Rate                           967    105,382,687      12.62    108,978.99     9.193      82.94               630
Dual Amort--10/40--2 Year/6
   Month                               3        941,351       0.11    313,783.81     7.192      75.59               631
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
  Geographic Distribution of     Mortgage    Principal    Principal     Average    Interest   Original             FICO
     Mortgaged Properties          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

New York                             139     41,732,227       5.00    300,231.85     8.075      76.69               650
California                           915    271,051,190      32.46    296,230.81     8.166      80.11               641
Massachusetts                         90     20,615,447       2.47    229,060.52     8.671      81.80               617
Other                              3,063    501,535,437      60.07    163,739.94     8.639      80.36               616
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PREPAYMENT PENALTY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

N                                  1,199    216,979,403      25.99    180,966.97     8.805      80.89               624
Y                                  3,008    617,954,899      74.01    205,437.13     8.337      79.86               627
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0                                  1,199    216,979,403      25.99    180,966.97     8.805      80.89               624
6                                     15      3,489,711       0.42    232,647.39     8.529      77.65               639
12                                   237     68,168,035       8.16    287,628.84     8.285      78.59               646
24                                 1,682    372,728,763      44.64    221,598.55     8.235      80.10               628
30                                     7      1,406,947       0.17    200,992.45     9.452      82.36               609
36                                 1,007    164,152,599      19.66    163,011.52     8.550      80.08               619
48                                     1        145,964       0.02    145,963.85     8.500      36.50               529
60                                    59      7,862,880       0.94    133,269.15     8.849      76.52               580
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION AGGREGATE                                                 4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Credit Score              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

481--500                              13      1,982,483       0.24    152,498.69     9.838      72.18               500
501--520                             226     36,928,474       4.42    163,400.33     9.506      72.32               510
521--540                             235     40,880,616       4.90    173,960.07     9.412      72.08               530
541--560                             269     46,680,583       5.59    173,533.77     9.088      76.23               551
561--580                             298     56,804,400       6.80    190,618.79     8.837      78.07               571
581--600                             387     70,194,615       8.41    181,381.43     8.614      80.35               591
601--620                             561    113,172,025      13.55    201,732.66     8.355      81.53               610
621--640                             692    137,268,036      16.44    198,364.21     8.354      81.54               630
641--660                             538    111,780,792      13.39    207,770.99     8.235      81.79               650
661--680                             390     82,802,760       9.92    212,314.77     8.085      81.45               670
681--700                             237     54,457,129       6.52    229,776.92     8.059      81.52               690
701--720                             139     31,386,760       3.76    225,804.03     8.017      83.17               709
721--740                              98     21,007,139       2.52    214,358.56     8.008      82.80               730
741--760                              67     14,358,085       1.72    214,299.78     8.114      81.74               751
761--780                              32      9,253,305       1.11    289,165.79     7.751      81.72               770
781--800                              19      5,001,237       0.60    263,222.99     7.793      80.13               787
801--820                               6        975,860       0.12    162,643.31     7.833      86.00               807
-------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00    198,463.11     8.458      80.13               626
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



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you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE ORIGINAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate
                                              Cut-off      Cut-off                 Weighted   Weighted
                                  Number        Date         Date                   Average   Average            Weighted
                                    of       Principal    Principal     Average      Gross    Combined           Average
Range of Cut-off Date Original   Mortgage     Original     Original    Original    Interest   Original             FICO
         Balances ($)              Loans     Balance ($)    Balance      Balance    Rate (%)     LTV      SPACE    Score
-------------------------------------------------------------------------------------------------------------------------

25,000.01--50,000.00                  23        990,485       0.14     43,064.57     9.943      77.52               607
50,000.01--75,000.00                 168     10,793,322       1.49     64,245.96     9.452      79.31               596
75,000.01--100,000.00                247     21,722,010       2.99     87,943.36     9.038      80.17               603
100,000.01--125,000.00               329     37,298,476       5.14    113,369.23     8.820      78.18               602
125,000.01--150,000.00               331     45,811,879       6.31    138,404.47     8.708      77.52               607
150,000.01--175,000.00               296     48,032,211       6.62    162,270.98     8.666      77.45               606
175,000.01--200,000.00               310     58,326,397       8.04    188,149.67     8.464      78.52               617
200,000.01--225,000.00               259     55,133,426       7.60    212,870.37     8.401      79.80               625
225,000.01--250,000.00               218     51,744,700       7.13    237,361.01     8.352      79.68               621
250,000.01--275,000.00               174     45,689,606       6.30    262,583.94     8.210      80.14               619
275,000.01--300,000.00               151     43,456,713       5.99    287,792.80     8.179      79.37               622
300,000.01--333,700.00               156     49,386,329       6.81    316,579.03     8.196      79.47               628
333,700.01--350,000.00                65     22,225,610       3.06    341,932.46     8.272      80.92               623
350,000.01--600,000.00               441    194,899,334      26.86    441,948.60     8.072      80.97               643
600,000.01 -1,000,000.00              57     40,176,321       5.54    704,847.74     8.252      81.80               650
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    725,686,818     100.00    225,019.17     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Minimum: 32,000
Maximum: 1,000,000
Average: 225,019

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
     Range of Cut-off Date       Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Principal Balances ($)        Loans     Balance ($)    Balance      Balance    Rate (%)     LTV      SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

25,000.01--50,000.00                  26      1,129,997       0.16     43,461.43     9.875      77.14               603
50,000.01--75,000.00                 166     10,675,774       1.47     64,311.89     9.451      79.34               597
75,000.01--100,000.00                248     21,791,227       3.01     87,867.85     9.033      80.17               603
100,000.01--125,000.00               329     37,270,483       5.14    113,284.14     8.819      78.18               602
125,000.01--150,000.00               330     45,620,050       6.29    138,242.58     8.712      77.51               607
150,000.01--175,000.00               295     47,803,521       6.60    162,045.83     8.665      77.48               606
175,000.01--200,000.00               311     58,457,454       8.07    187,966.09     8.470      78.51               617
200,000.01--225,000.00               260     55,321,257       7.63    212,774.06     8.397      79.90               626
225,000.01--250,000.00               216     51,237,665       7.07    237,211.41     8.350      79.59               621
250,000.01--275,000.00               176     46,182,624       6.37    262,401.27     8.192      80.20               619
275,000.01--300,000.00               149     42,857,347       5.91    287,633.20     8.198      79.29               622
300,000.01--333,700.00               156     49,322,511       6.81    316,169.94     8.196      79.48               628
333,700.01--350,000.00                67     22,906,483       3.16    341,887.80     8.241      80.90               625
350,000.01--600,000.00               439    194,026,507      26.77    441,973.82     8.075      80.97               642
600,000.01 -1,000,000.00              57     40,136,732       5.54    704,153.19     8.252      81.80               650
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Minimum: 31,973
Maximum: 1,000,000
Average: 224,725

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
    Range of Gross Interest      Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Rates (%)               Loans     Balance ($)    Balance      Balance    Rate (%)     LTV      SPACE    Score
-------------------------------------------------------------------------------------------------------------------------

5.000--5.999                           4      1,142,614       0.16    285,653.40     5.897      68.44               662
6.000--6.999                         205     55,229,672       7.62    269,413.03     6.721      77.64               656
7.000--7.999                       1,006    263,536,813      36.36    261,965.02     7.622      79.18               646
8.000--8.999                       1,040    231,170,876      31.90    222,279.69     8.530      79.68               621
9.000--9.999                         677    131,077,155      18.09    193,614.70     9.507      81.22               594
10.000--10.999                       246     36,305,520       5.01    147,583.41    10.473      83.11               573
11.000--11.999                        37      5,150,288       0.71    139,196.99    11.341      73.04               547
12.000--12.999                        10      1,126,692       0.16    112,669.21    12.451      88.43               624
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.999
Weighted Average: 8.358

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
Stated Original Term (months)     Loans     Balance ($)    Balance      Balance    Rate (%)     LTV      SPACE    Score
-------------------------------------------------------------------------------------------------------------------------

241--360                           3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average   Average            Weighted
                                    of          Date         Date                    Gross    Combined           Average
   Range of Stated Remaining     Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Terms (months)            Loans     Balance ($)    Balance      Balance    Rate (%)     LTV      SPACE    Score
-------------------------------------------------------------------------------------------------------------------------

301--360                           3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Minimum: 349
Maximum: 360
Weighted Average: 357

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

MORTGAGE INSURANCE



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate                Weighted   Weighted
                      Number      Cut-off      Cut-off                  Average   Average            Weighted
                        of         Date          Date                    Gross    Combined           Average
                     Mortgage    Principal    Principal     Average    Interest   Original             FICO
Mortgage Insurance     Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------

No                     3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------
Total:                 3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------


LIEN POSITION



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate                Weighted   Weighted
                      Number      Cut-off      Cut-off                  Average   Average            Weighted
                        of          Date         Date                    Gross    Combined           Average
       Lien          Mortgage    Principal    Principal     Average    Interest   Original             FICO
     Position          Loans    Balance ($)    Balance      Balance    Rate (%)     LTV      SPACE    Score
-------------------------------------------------------------------------------------------------------------

1st Lien               3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------
Total:                 3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------


SEASONING



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate                Weighted   Weighted
                      Number      Cut-off      Cut-off                  Average   Average            Weighted
                        of          Date         Date                    Gross    Combined           Average
                     Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Seasoning          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------

0                          2        542,000       0.07    271,000.00     8.514      75.23               609
1                        172     35,078,821       4.84    203,946.63     8.441      79.97               621
2                      1,313    282,703,508      39.01    215,311.13     8.392      79.67               628
3                        891    197,788,863      27.29    221,985.26     8.428      79.87               621
4                        449    111,707,596      15.41    248,791.97     8.287      79.51               627
5                        175     43,651,920       6.02    249,439.55     8.286      79.90               622
6                         80     18,030,474       2.49    225,380.92     8.274      80.03               617
7                         57     14,616,273       2.02    256,425.85     8.069      81.15               632
8                         45      9,428,489       1.30    209,521.98     8.074      79.39               615
9                         27      7,205,439       0.99    266,868.10     7.998      77.71               633
10                        13      3,837,853       0.53    295,219.50     7.284      79.93               665
11                         1        148,392       0.02    148,391.95     7.715      80.00               688
-------------------------------------------------------------------------------------------------------------
Total:                 3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate                Weighted   Weighted
                            Number      Cut-off      Cut-off                  Average   Average            Weighted
     Range of                 of          Date         Date                    Gross    Combined           Average
Combined Original          Mortgage    Principal    Principal     Average    Interest   Original             FICO
  LTV Ratios (%)             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------

<= 25.00                         7      1,133,832       0.16    161,975.98     7.840      20.82               563
25.01--30.00                     5        565,846       0.08    113,169.11     7.952      27.00               592
30.01--35.00                     3        438,107       0.06    146,035.51     8.734      33.17               591
35.01--40.00                    15      2,565,767       0.35    171,051.12     8.437      38.94               595
40.01--45.00                    27      4,403,343       0.61    163,086.78     8.175      42.63               576
45.01--50.00                    34      5,461,675       0.75    160,637.50     8.379      47.85               591
50.01--55.00                    47      8,902,927       1.23    189,423.98     8.328      52.83               580
55.01--60.00                    51      8,593,639       1.19    168,502.72     8.201      58.00               582
60.01--65.00                   100     20,057,543       2.77    200,575.43     8.587      63.35               573
65.01--70.00                   153     31,059,468       4.29    203,003.06     8.791      68.98               571
70.01--75.00                   233     52,286,510       7.21    224,405.62     8.522      73.99               576
75.01--80.00                 1,603    383,107,200      52.86    238,993.89     8.075      79.85               644
80.01--85.00                   360     75,836,493      10.46    210,656.93     8.708      84.55               604
85.01--90.00                   383     87,131,156      12.02    227,496.49     8.691      89.58               627
90.01--95.00                   157     35,089,730       4.84    223,501.47     8.976      94.71               645
95.01--100.00                   47      8,106,395       1.12    172,476.49     9.250      99.54               649
-------------------------------------------------------------------------------------------------------------------
Total:                       3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 79.74

OCCUPANCY



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate                Weighted   Weighted
                            Number      Cut-off      Cut-off                  Average   Average            Weighted
                              of          Date         Date                    Gross    Combined            Average
                           Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Occupancy                Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------

Primary                      2,929    668,303,638      92.21    228,167.85     8.300      79.50               623
Investment                     247     44,066,226       6.08    178,405.77     9.088      82.56               653
Second Home                     49     12,369,765       1.71    252,444.18     8.880      82.64               652
-------------------------------------------------------------------------------------------------------------------
Total:                       3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate                Weighted   Weighted
                            Number      Cut-off      Cut-off                  Average   Average            Weighted
                              of          Date         Date                    Gross    Combined           Average
                           Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Property Type          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------

Single Family Residence      2,607    562,545,512      77.62    215,782.71     8.361      79.86               622
2-4 Family                     226     65,792,368       9.08    291,116.67     8.463      78.37               639
Planned Unit Development       175     48,715,079       6.72    278,371.88     8.195      79.59               629
Condo                          217     47,686,670       6.58    219,754.24     8.345      80.46               643
-------------------------------------------------------------------------------------------------------------------
Total:                       3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate                Weighted   Weighted
                         Number      Cut-off      Cut-off                  Average   Average            Weighted
                           of          Date         Date                    Gross    Combined           Average
                        Mortgage    Principal    Principal     Average    Interest   Original             FICO
     Loan Purpose         Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
----------------------------------------------------------------------------------------------------------------

Refinance--Cashout        1,670    373,737,594      51.57    223,794.97     8.475      78.11               600
Purchase                  1,403    321,509,665      44.36    229,158.71     8.223      81.58               656
Refinance--Rate Term        152     29,492,370       4.07    194,028.75     8.352      80.37               611
----------------------------------------------------------------------------------------------------------------
Total:                    3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate                Weighted   Weighted
                         Number      Cut-off      Cut-off                  Average   Average            Weighted
                           of          Date         Date                    Gross    Combined           Average
                        Mortgage    Principal    Principal     Average    Interest   Original             FICO
 Documentation Level     Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
----------------------------------------------------------------------------------------------------------------

Full Documentation        1,453    287,301,845      39.64    197,730.11     8.193      79.89               606
Stated Documentation      1,651    406,578,469      56.10    246,261.94     8.490      79.56               640
Limited Documentation       121     30,859,316       4.26    255,035.67     8.156      80.78               615
----------------------------------------------------------------------------------------------------------------
Total:                    3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

PRODUCT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
            Product                Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

10 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                    1        186,686       0.03    186,686.00     8.000      80.00               641
10 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                    1         92,000       0.01     92,000.00     7.250      80.00               652
10 Year IO--ARM 5 Yr Fixed/6
   Month Adjustable                    2        477,439       0.07    238,719.50     8.188      83.29               646
5 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                  421    132,088,152      18.23    313,748.58     7.780      80.77               658
5 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                   81     22,362,444       3.09    276,079.55     7.772      80.65               666
5 Year IO--ARM 5 Yr Fixed/6
   Month Adjustable                    5      1,418,400       0.20    283,680.00     6.921      76.10               686
3 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                    3        639,500       0.09    213,166.67     7.938      77.28               631
2 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                    2        431,400       0.06    215,700.00     7.225      79.45               606
ARM 1 Yr Fixed/6 Month
   Adjustable                          2        542,838       0.07    271,419.18     7.742      84.95               602
ARM 2 Yr Fixed/6 Month
   Adjustable                      1,993    441,049,958      60.86    221,299.53     8.472      79.55               620
ARM 3 Yr Fixed/6 Month
   Adjustable                        699    122,518,576      16.91    175,276.93     8.713      79.26               601
ARM 5 Yr Fixed/6 Month
   Adjustable                         12      1,990,884       0.27    165,906.98     8.472      76.09               631
Dual Amort--10/40--2 Year/6
   Month                               3        941,351       0.13    313,783.81     7.192      75.59               631
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
  Geographic Distribution of     Mortgage    Principal    Principal     Average    Interest   Original             FICO
     Mortgaged Properties          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

New York                              98     31,213,102       4.31    318,501.04     8.206      78.64               644
California                           697    244,590,126      33.75    350,918.40     8.003      79.41               640
Massachusetts                         74     17,750,531       2.45    239,872.03     8.559      81.79               615
Other                              2,356    431,185,871      59.50    183,016.07     8.562      79.93               616
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 49

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

N                                    873    185,995,142      25.66    213,052.85     8.707      80.30               623
Y                                  2,352    538,744,488      74.34    229,058.03     8.238      79.55               626
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0                                    873    185,995,142      25.66    213,052.85     8.707      80.30               623
6                                     15      3,489,711       0.48    232,647.39     8.529      77.65               639
12                                   190     57,016,030       7.87    300,084.37     8.341      79.78               642
24                                 1,541    360,737,730      49.77    234,093.27     8.156      79.61               627
30                                     5        944,477       0.13    188,895.44     9.561      88.20               619
36                                   580    113,658,512      15.68    195,962.95     8.410      79.29               615
60                                    21      2,898,028       0.40    138,001.34     8.813      77.32               593
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION ARM                                                       3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Credit Score              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

481--500                              11      1,910,960       0.26    173,723.64     9.790      71.14               500
501--520                             191     32,657,859       4.51    170,983.55     9.488      72.34               510
521--540                             197     35,704,442       4.93    181,240.82     9.357      71.36               530
541--560                             231     41,764,829       5.76    180,800.13     9.046      76.59               551
561--580                             256     51,644,813       7.13    201,737.55     8.815      78.19               571
581--600                             309     61,163,622       8.44    197,940.52     8.565      80.12               591
601--620                             443    100,912,425      13.92    227,793.28     8.251      81.08               610
621--640                             480    116,072,738      16.02    241,818.20     8.161      80.83               630
641--660                             378     95,543,907      13.18    252,761.66     8.073      81.22               650
661--680                             288     69,883,701       9.64    242,651.74     7.958      81.23               670
681--700                             167     46,387,438       6.40    277,769.09     7.942      81.06               690
701--720                             102     27,068,656       3.73    265,378.98     7.947      82.86               710
721--740                              70     17,679,086       2.44    252,558.37     7.903      82.79               730
741--760                              59     13,166,647       1.82    223,163.51     8.094      81.89               750
761--780                              26      8,771,245       1.21    337,355.56     7.585      80.75               770
781--800                              14      3,664,557       0.51    261,754.04     7.827      80.03               788
801--820                               3        742,707       0.10    247,568.97     7.174      81.60               807
-------------------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00    224,725.47     8.358      79.74               625
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 625

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



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IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE ORIGINAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate
                                              Cut-off      Cut-off                 Weighted   Weighted
                                  Number        Date         Date                   Average    Average           Weighted
                                    of       Principal    Principal     Average      Gross    Combined            Average
Range of Cut-off Date Original   Mortgage     Original     Original    Original    Interest   Original             FICO
         Balances ($)              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0-25,000.00                          31         675,138       0.61     21,778.65    11.022      99.81               650
25,000.01--50,000.00                191       7,492,144       6.79     39,225.88    11.381      95.84               638
50,000.01--75,000.00                200      12,571,199      11.39     62,856.00    10.737      91.45               638
75,000.01--100,000.00               164      14,338,595      12.99     87,430.46     9.719      85.88               628
100,000.01--125,000.00              117      13,152,870      11.91    112,417.69     9.644      84.55               619
125,000.01--150,000.00               72       9,873,531       8.94    137,132.38     9.074      81.98               612
150,000.01--175,000.00               57       9,250,339       8.38    162,286.65     8.503      79.59               634
175,000.01--200,000.00               34       6,413,650       5.81    188,636.76     8.471      78.15               619
200,000.01--225,000.00               19       4,043,105       3.66    212,795.00     7.737      72.94               625
225,000.01--250,000.00               24       5,712,600       5.17    238,025.00     8.323      72.32               616
250,000.01--275,000.00                8       2,071,150       1.88    258,893.75     8.113      73.49               614
275,000.01--300,000.00               14       4,100,800       3.71    292,914.29     7.978      76.55               627
300,000.01--333,700.00               12       3,768,150       3.41    314,012.50     7.942      79.22               649
333,700.01--350,000.00                5       1,696,500       1.54    339,300.00     7.505      82.74               643
350,000.01--600,000.00               33      14,594,650      13.22    442,262.12     7.881      78.02               649
600,000.01 -1,000,000.00              1         652,000       0.59    652,000.00     6.250      80.00               782
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,406,421     100.00    112,430.16     9.117      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Minimum: 14,800
Maximum: 652,000
Average: 112,430

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
Range of Cut-off Date            Mortgage    Principal    Principal     Average    Interest   Original             FICO
Principal Balances ($)             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0-25,000.00                          31         673,662       0.61     21,731.04    11.023      99.81               650
25,000.01--50,000.00                191       7,479,765       6.79     39,161.07    11.382      95.85               638
50,000.01--75,000.00                202      12,698,237      11.52     62,862.56    10.706      91.24               637
75,000.01--100,000.00               163      14,250,549      12.93     87,426.68     9.724      86.00               629
100,000.01--125,000.00              117      13,152,567      11.94    112,415.11     9.678      84.74               619
125,000.01--150,000.00               71       9,726,909       8.83    136,998.71     9.044      81.76               612
150,000.01--175,000.00               58       9,408,562       8.54    162,216.59     8.531      79.60               633
175,000.01--200,000.00               33       6,226,792       5.65    188,690.67     8.429      78.10               620
200,000.01--225,000.00               19       4,035,087       3.66    212,373.02     7.737      72.95               625
225,000.01--250,000.00               25       5,953,953       5.40    238,158.13     8.286      72.64               615
250,000.01--275,000.00                7       1,817,319       1.65    259,616.95     8.205      72.59               616
275,000.01--300,000.00               14       4,094,433       3.72    292,459.51     7.978      76.55               627
300,000.01--333,700.00               12       3,762,147       3.41    313,512.29     7.942      79.22               649
333,700.01--350,000.00                5       1,693,072       1.54    338,614.43     7.505      82.74               643
350,000.01--600,000.00               33      14,570,856      13.22    441,541.10     7.882      78.02               649
600,000.01 -1,000,000.00              1         650,759       0.59    650,759.48     6.250      80.00               782
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

Minimum: 14,774
Maximum: 650,759
Average: 112,215

RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted
                                  Number      Cut-off      Cut-off                  Average   Weighted           Weighted
                                    of          Date         Date                    Gross    Combined            Average
Range of Gross Interest          Mortgage    Principal    Principal     Average    Interest   Original             FICO
       Rates (%)                  Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

6.000--6.999                         55      13,464,554      12.22    244,810.07     6.755      68.38               677
7.000--7.999                        133      24,816,585      22.52    186,590.87     7.544      76.58               641
8.000--8.999                        192      25,051,441      22.73    130,476.26     8.531      79.16               611
9.000--9.999                        132      13,354,023      12.12    101,166.84     9.581      83.48               598
10.000--10.999                      142      11,101,766      10.07     78,181.45    10.594      91.80               637
11.000--11.999                      199      15,180,304      13.78     76,282.94    11.573      95.74               634
12.000--12.999                       90       5,480,080       4.97     60,889.78    12.427      99.74               634
13.000--13.999                       37       1,637,585       1.49     44,259.05    13.410      99.71               628
14.000--14.999                        2         108,333       0.10     54,166.54    14.151     100.00               637
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Minimum: 6.125
Maximum: 14.240
Weighted Average: 9.118

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
Stated Original Term (months)     Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1--120                                7         496,311       0.45     70,901.60     8.252      64.85               631
121--240                            401      27,845,915      25.27     69,441.18    11.015      95.39               654
241--360                            574      81,852,445      74.28    142,600.08     8.477      78.48               623
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 314

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
   Range of Stated Remaining     Mortgage    Principal    Principal     Average    Interest   Original             FICO
        Terms (months)             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

61--120                               7         496,311       0.45     70,901.60      8.252     64.85               631
121--180                            377      25,855,356      23.46     68,581.85     11.213     96.89               656
181--240                             24       1,990,559       1.81     82,939.96      8.449     75.91               634
241--300                              3         245,515       0.22     81,838.40      8.559     84.90               622
301--360                            571      81,606,930      74.06    142,919.32      8.477     78.46               623
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53      9.118     82.69               631
-------------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 359
Weighted Average: 311

MORTGAGE INSURANCE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Mortgage Insurance           Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

No                                  982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
             Lien                Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Position                Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1st Lien                            522      81,020,883      73.53    155,212.42     8.266      76.64               622
2nd Lien                            460      29,173,789      26.47     63,421.28    11.483      99.52               657
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

SEASONING



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Seasoning               Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1                                    24       3,991,652       3.62    166,318.85     8.798      72.19               607
2                                   209      26,522,122      24.07    126,900.10     8.742      78.59               629
3                                   373      41,072,604      37.27    110,114.22     8.843      83.21               630
4                                   180      19,639,354      17.82    109,107.52     9.489      84.21               624
5                                   117      11,704,059      10.62    100,034.69     9.868      87.22               646
6                                    38       3,465,373       3.14     91,194.03    10.345      87.88               631
7                                    17       1,411,111       1.28     83,006.52     9.463      89.75               639
8                                    11         957,394       0.87     87,035.85    10.684      91.90               659
9                                     9       1,118,443       1.01    124,271.40     8.956      87.19               716
10                                    2         139,836       0.13     69,918.02     9.941      98.24               761
11                                    1          99,463       0.09     99,462.63    10.875     100.00               675
12                                    1          73,261       0.07     73,260.66    10.240      99.97               615
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
Range of Combined Original LTV   Mortgage    Principal    Principal     Average    Interest   Original             FICO
          Ratios (%)               Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

<= 25.00                              5         518,217       0.47    103,643.48     7.377      22.55               658
25.01--30.00                          2         224,053       0.20    112,026.44     7.139      27.44               668
30.01--35.00                          5         820,389       0.74    164,077.71     7.220      32.50               660
35.01--40.00                          4         706,845       0.64    176,711.15     8.693      37.32               591
40.01--45.00                         12       1,634,230       1.48    136,185.80     7.649      42.15               616
45.01--50.00                         14       2,094,298       1.90    149,592.70     7.700      48.17               631
50.01--55.00                          6         889,737       0.81    148,289.55     8.564      53.31               586
55.01--60.00                         21       3,230,754       2.93    153,845.42     7.381      57.78               624
60.01--65.00                         22       2,993,313       2.72    136,059.66     8.709      63.51               578
65.01--70.00                         39       6,476,654       5.88    166,068.05     8.320      68.31               625
70.01--75.00                         55       7,795,752       7.07    141,740.95     8.124      73.68               607
75.01--80.00                        156      25,447,537      23.09    163,125.24     8.186      79.62               633
80.01--85.00                         77      11,963,705      10.86    155,372.79     8.415      84.27               616
85.01--90.00                         66      11,002,531       9.98    166,705.02     8.627      89.33               624
90.01--95.00                         37       4,164,623       3.78    112,557.37     8.912      94.09               630
95.01--100.00                       461      30,232,035      27.44     65,579.25    11.340      99.95               653
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 82.69

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Occupancy               Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Primary                             931     104,310,697      94.66    112,041.57     9.147      83.00               630
Investment                           47       5,587,028       5.07    118,872.93     8.539      76.68               643
Second Home                           4         296,947       0.27     74,236.71     9.813      88.08               658
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Property Type             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Single Family Residence             814      89,228,604      80.97    109,617.45     9.088      83.05               626
2-4 Family                           74      12,264,028      11.13    165,730.11     8.707      78.04               675
Planned Unit Development             41       4,365,542       3.96    106,476.62     9.566      84.60               613
Condo                                53       4,336,498       3.94     81,820.72    10.431      86.53               626
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Loan Purpose              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                  440      64,178,436      58.24    145,860.08     8.412      76.26               619
Purchase                            468      35,629,176      32.33     76,130.72    10.637      94.32               655
Refinance--Rate Term                 74      10,387,060       9.43    140,365.67     8.269      82.55               622
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Documentation Level          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Full Documentation                  444      55,149,259      50.05    124,210.04     8.521      80.68               615
Stated Documentation                486      49,922,970      45.30    102,722.16     9.771      84.29               648
Limited Documentation                52       5,122,443       4.65     98,508.51     9.166      88.75               641
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

PRODUCT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number     Cut-off       Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
            Product               Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

10 Year IO--Fixed Rate                1         331,000       0.30    331,000.00     6.750      79.95               638
5 Year IO--Fixed Rate                14       4,480,985       4.07    320,070.34     7.527      77.12               657
Fixed Rate                          967     105,382,687      95.63    108,978.99     9.193      82.94               630
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined           Average
  Geographic Distribution of     Mortgage    Principal    Principal     Average    Interest   Original             FICO
     Mortgaged Properties         Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

New York                             41      10,519,125       9.55    256,564.03     7.686      70.91               669
California                          218      26,461,064      24.01    121,381.03     9.671      86.56               647
Massachusetts                        16       2,864,916       2.60    179,057.27     9.362      81.87               624
Other                               707      70,349,566      63.84     99,504.34     9.114      83.03               620
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 43

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

N                                   326      30,984,261      28.12     95,043.75     9.393      84.47               625
Y                                   656      79,210,411      71.88    120,747.58     9.010      82.00               634
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 32

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION FIXED RATE                                                  982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term       Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

 0                                  326      30,984,261      28.12     95,043.75     9.393      84.47               625
12                                   47      11,152,005      10.12    237,276.71     8.002      72.55               670
24                                  141      11,991,033      10.88     85,042.79    10.611      94.84               646
30                                    2         462,470       0.42    231,234.96     9.230      70.42               590
36                                  427      50,494,087      45.82    118,253.13     8.866      81.86               629
48                                    1         145,964       0.13    145,963.85     8.500      36.50               529
60                                   38       4,964,852       4.51    130,653.99     8.870      76.05               572
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 32

CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off       Cut-off                 Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Credit Score              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

481--500                              2          71,523       0.06     35,761.49    11.118     100.00               500
501--520                             35       4,270,616       3.88    122,017.59     9.638      72.14               509
521--540                             38       5,176,175       4.70    136,215.12     9.794      77.02               530
541--560                             38       4,915,754       4.46    129,361.96     9.442      73.18               549
561--580                             42       5,159,587       4.68    122,847.31     9.058      76.92               571
581--600                             78       9,030,993       8.20    115,781.96     8.948      81.92               591
601--620                            118      12,259,600      11.13    103,894.92     9.210      85.24               612
621--640                            212      21,195,298      19.23     99,977.82     9.410      85.39               629
641--660                            160      16,236,886      14.73    101,480.54     9.190      85.17               650
661--680                            102      12,919,060      11.72    126,657.45     8.771      82.65               670
681--700                             70       8,069,692       7.32    115,281.31     8.730      84.17               688
701--720                             37       4,318,104       3.92    116,705.52     8.459      85.12               708
721--740                             28       3,328,053       3.02    118,859.03     8.570      82.85               732
741--760                              8       1,191,438       1.08    148,929.76     8.330      80.12               756
761--780                              6         482,061       0.44     80,343.44    10.769      99.53               770
781--800                              5       1,336,680       1.21    267,336.04     7.699      80.38               785
801--820                              3         233,153       0.21     77,717.64     9.934     100.00               805
-------------------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00    112,214.53     9.118      82.69               631
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 631

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



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IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE ORIGINAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate
                                              Cut-off      Cut-off                 Weighted   Weighted
                                  Number        Date         Date                   Average    Average           Weighted
                                    of       Principal    Principal     Average      Gross    Combined            Average
Range of Cut-off Date Original   Mortgage     Original     Original    Original    Interest   Original             FICO
         Balances ($)              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

50,000.01--75,000.00                  1          72,800       0.04     72,800.00     9.590      80.00               630
75,000.01--100,000.00                10         879,010       0.54     87,901.00     7.859      79.31               627
100,000.01--125,000.00               16       1,805,809       1.11    112,863.06     8.123      74.02               660
125,000.01--150,000.00               20       2,755,526       1.70    137,776.30     7.876      78.86               658
150,000.01--175,000.00               25       4,068,440       2.50    162,737.60     7.825      80.95               672
175,000.01--200,000.00               57      10,630,053       6.54    186,492.16     7.965      79.42               663
200,000.01--225,000.00               51      10,935,590       6.73    214,423.33     7.805      80.18               650
225,000.01--250,000.00               49      11,603,522       7.14    236,806.57     7.736      78.70               648
250,000.01--275,000.00               40      10,544,250       6.49    263,606.25     7.794      80.79               663
275,000.01--300,000.00               35      10,052,540       6.19    287,215.43     7.531      79.71               645
300,000.01--333,700.00               27       8,513,821       5.24    315,326.70     7.514      80.99               669
333,700.01--350,000.00               21       7,157,890       4.40    340,851.90     7.888      82.60               653
350,000.01--600,000.00              161      71,116,651      43.76    441,718.33     7.698      80.86               660
600,000.01 -1,000,000.00             18      12,377,443       7.62    687,635.72     8.086      82.72               669
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,513,345     100.00    306,051.50     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 1,000,000
Average: 306,051

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
     Range of Cut-off Date       Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Principal Balances ($)         Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

50,000.01--75,000.00                  1          72,800       0.04     72,800.00     9.590      80.00               630
75,000.01--100,000.00                10         878,879       0.54     87,887.87     7.859      79.31               627
100,000.01--125,000.00               16       1,804,208       1.11    112,763.01     8.123      74.02               660
125,000.01--150,000.00               20       2,755,396       1.70    137,769.80     7.876      78.86               658
150,000.01--175,000.00               25       4,068,308       2.50    162,732.32     7.825      80.95               672
175,000.01--200,000.00               57      10,629,953       6.54    186,490.41     7.965      79.42               663
200,000.01--225,000.00               51      10,935,227       6.73    214,416.22     7.805      80.18               650
225,000.01--250,000.00               49      11,602,322       7.14    236,782.07     7.736      78.71               648
250,000.01--275,000.00               40      10,544,077       6.49    263,601.92     7.794      80.79               663
275,000.01--300,000.00               35      10,052,404       6.19    287,211.53     7.531      79.71               645
300,000.01--333,700.00               27       8,513,689       5.24    315,321.81     7.514      80.99               669
333,700.01--350,000.00               21       7,157,378       4.40    340,827.51     7.888      82.60               653
350,000.01--600,000.00              161      71,116,022      43.76    441,714.42     7.698      80.86               660
600,000.01 -1,000,000.00             18      12,377,344       7.62    687,630.21     8.086      82.72               669
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
    Range of Gross Interest      Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Rates (%)               Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

5.000--5.999                          2         572,938       0.35    286,469.00     5.804      65.50               673
6.000--6.999                         85      25,390,729      15.62    298,714.46     6.734      78.05               663
7.000--7.999                        265      85,140,149      52.39    321,283.58     7.538      80.41               660
8.000--8.999                        137      38,660,074      23.79    282,190.32     8.421      81.59               657
9.000--9.999                         39      11,629,803       7.16    298,200.07     9.326      84.42               650
10.000--10.999                        3       1,114,313       0.69    371,437.67    10.145      86.49               646
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 10.965
Weighted Average: 7.762

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
 Stated Original Term (months)     Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

241--360                            531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
   Range of Stated Remaining     Mortgage    Principal    Principal     Average    Interest   Original             FICO
        Terms (months)             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

301--360                            531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 359
Weighted Average: 357

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

MORTGAGE INSURANCE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Mortgage Insurance           Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

No                                  531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
             Lien                Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Position                Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1st Lien                            531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


SEASONING



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Seasoning              Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

1                                    17       4,142,550       2.55    243,679.41     7.705      81.56               668
2                                   204      58,757,096      36.16    288,024.98     7.811      80.65               665
3                                   139      42,602,464      26.22    306,492.55     7.766      79.93               658
4                                    86      28,160,693      17.33    327,449.92     7.727      80.79               654
5                                    29       9,858,053       6.07    339,932.86     7.619      80.03               663
6                                    17       5,187,068       3.19    305,121.66     7.388      82.02               624
7                                    16       5,314,715       3.27    332,169.71     7.853      84.30               636
8                                     8       2,530,301       1.56    316,287.68     7.986      84.53               646
9                                    10       3,763,468       2.32    376,346.79     8.233      76.92               643
10                                    5       2,191,597       1.35    438,319.40     7.179      79.91               721
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
  Range of Combined Original     Mortgage    Principal    Principal     Average    Interest   Original             FICO
         LTV Ratios (%)            Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

<= 25.00                              1         120,000       0.07    120,000.00     7.750      22.64               619
35.01--40.00                          3         980,000       0.60    326,666.67     7.540      39.09               638
40.01--45.00                          1         220,000       0.14    220,000.00     6.300      41.90               711
50.01--55.00                          6       1,302,051       0.80    217,008.48     7.568      52.05               617
55.01--60.00                          4         690,000       0.42    172,500.00     6.902      57.85               623
60.01--65.00                          7       1,753,635       1.08    250,519.35     6.908      64.13               647
65.01--70.00                          8       2,547,235       1.57    318,404.35     7.438      69.85               634
70.01--75.00                         13       4,722,659       2.91    363,281.46     7.664      72.81               641
75.01--80.00                        381     113,472,926      69.83    297,829.20     7.679      79.84               665
80.01--85.00                         39      12,567,069       7.73    322,232.55     7.970      84.03               647
85.01--90.00                         47      17,656,309      10.86    375,666.15     8.085      89.19               639
90.01--95.00                         20       6,146,122       3.78    307,306.10     8.543      94.80               666
95.01--100.00                         1         330,000       0.20    330,000.00     9.300     100.00               733
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Minimum: 22.64
Maximum: 100.00
Weighted Average: 80.60

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
           Occupancy              Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Primary                             516     158,921,980      97.79    307,988.33     7.746      80.57               658
Second Home                           8       1,802,826       1.11    225,353.25     8.564      83.92               707
Investment                            7       1,783,200       1.10    254,742.84     8.371      79.71               663
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Property Type            Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Single Family Residence             411     123,298,597      75.87    299,996.59     7.756      80.40               657
Condo                                46      13,573,339       8.35    295,072.59     7.741      80.62               663
2-4 Family                           33      13,208,820       8.13    400,267.28     7.972      81.45               676
Planned Unit Development             41      12,427,250       7.65    303,103.66     7.628      81.67               655
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                     of         Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
         Loan Purpose              Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Purchase                            320      95,071,849      58.50    297,099.53     7.802      80.56               670
Refinance--Cashout                  193      62,419,618      38.41    323,417.71     7.728      80.75               642
Refinance--Rate Term                 18       5,016,539       3.09    278,696.61     7.430      79.48               653
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                            Aggregate     Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
      Documentation Level         Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

Full Documentation                  208      60,521,993      37.24    290,971.12     7.396      81.32               646
Stated Documentation                296      92,734,579      57.06    313,292.50     8.025      80.07               668
Limited Documentation                27       9,251,435       5.69    342,645.73     7.520      81.22               650
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


PRODUCT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
            Product               Loans     Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

10 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                   1         186,686       0.11    186,686.00     8.000      80.00               641
10 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                   1          92,000       0.06     92,000.00     7.250      80.00               652
10 Year IO--ARM 5 Yr Fixed/6
   Month Adjustable                   2         477,439       0.29    238,719.50     8.188      83.29               646
10 Year IO--Fixed Rate                1         331,000       0.20    331,000.00     6.750      79.95               638
5 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                 421     132,088,152      81.28    313,748.58     7.780      80.77               658
5 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                  81      22,362,444      13.76    276,079.55     7.772      80.65               666
5 Year IO--ARM 5 Yr Fixed/6
   Month Adjustable                   5       1,418,400       0.87    283,680.00     6.921      76.10               686
5 Year IO--Fixed Rate                14       4,480,985       2.76    320,070.34     7.527      77.12               657
3 Year IO--ARM 3 Yr Fixed/6
   Month Adjustable                   3         639,500       0.39    213,166.67     7.938      77.28               631
2 Year IO--ARM 2 Yr Fixed/6
   Month Adjustable                   2         431,400       0.27    215,700.00     7.225      79.45               606
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
  Geographic Distribution of     Mortgage    Principal    Principal     Average    Interest   Original             FICO
     Mortgaged Properties          Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

New York                             17       7,143,948       4.40    420,232.25     7.856      82.70               665
California                          238      88,869,828      54.69    373,402.64     7.719      80.72               661
Massachusetts                         5       1,612,750       0.99    322,550.00     8.305      84.30               630
Other                               271      64,881,480      39.93    239,415.05     7.798      80.10               656
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 34

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

N                                    96      31,006,377      19.08    322,983.09     8.141      81.13               669
Y                                   435     131,501,629      80.92    302,302.60     7.673      80.47               657
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

0                                    96      31,006,377      19.08    322,983.09     8.141      81.13               669
6                                     4       1,146,600       0.71    286,650.00     7.843      76.59               695
12                                   42      14,888,521       9.16    354,488.60     7.876      80.64               653
24                                  292      89,169,622      54.87    305,375.42     7.664      80.78               655
30                                    1         180,000       0.11    180,000.00     8.350      80.00               677
36                                   93      25,508,986      15.70    274,290.18     7.598      79.83               661
60                                    3         607,900       0.37    202,633.33     6.666      66.57               661
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
HYPERION IO                                                          531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate                Weighted   Weighted
                                  Number      Cut-off      Cut-off                  Average    Average           Weighted
                                    of          Date         Date                    Gross    Combined            Average
                                 Mortgage    Principal    Principal     Average    Interest   Original             FICO
          Credit Score             Loans    Balance ($)    Balance      Balance    Rate (%)      LTV     SPACE     Score
-------------------------------------------------------------------------------------------------------------------------

501--520                              1         216,000       0.13    216,000.00     7.500      90.00               519
541--560                              1         249,325       0.15    249,324.86     9.750      51.55               553
561--580                              4       1,670,955       1.03    417,738.64     7.337      78.47               578
581--600                             13       3,589,920       2.21    276,147.69     7.273      78.55               594
601--620                             94      27,818,583      17.12    295,942.38     7.870      81.96               611
621--640                             98      29,866,897      18.38    304,764.26     7.834      79.73               630
641--660                            102      31,216,955      19.21    306,048.58     7.801      79.95               651
661--680                             78      24,210,249      14.90    310,387.80     7.719      80.60               671
681--700                             56      17,733,949      10.91    316,677.66     7.743      81.02               690
701--720                             32       9,123,851       5.61    285,120.34     7.684      80.77               711
721--740                             23       6,786,454       4.18    295,063.23     7.591      82.35               731
741--760                             12       3,883,500       2.39    323,625.04     7.622      81.32               752
761--780                             11       4,070,900       2.51    370,081.82     7.670      80.74               772
781--800                              4       1,446,520       0.89    361,630.00     7.917      80.75               788
801--820                              2         623,948       0.38    311,973.82     7.135      80.00               806
-------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00    306,041.44     7.762      80.60               659
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



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there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
KBC                                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

FICO SPREADSHEET REQUEST



                                                                                  Master &  Sched
FICO Spreadsheet                        % of   Gross   Gross   Gross     Gross    Sub Serv   Rem
     Request      Count    Balance    Balance   Rate  Margin  Lifecap  Lifefloor    Fees     Term
-------------------------------------------------------------------------------------------------

500--500             13    1,982,483     0.24  9.838   7.146   16.480    9.790      0.520    354
501--510            114   18,723,540     2.24  9.534   6.447   16.392    9.551      0.520    357
511--520            112   18,204,934     2.18  9.476   6.752   16.140    9.426      0.520    355
521--530            121   20,524,463     2.46  9.500   6.717   16.129    9.360      0.520    357
531--540            114   20,356,153     2.44  9.324   6.747   16.001    9.222      0.520    357
541--550            129   22,227,904     2.66  9.181   6.737   15.745    9.107      0.520    356
551--560            140   24,452,679     2.93  9.003   6.505   15.613    8.977      0.520    357
561--570            150   27,425,461     3.28  8.835   6.614   15.582    8.829      0.520    357
571--580            148   29,378,939     3.52  8.840   6.605   15.442    8.802      0.520    355
581--590            175   30,922,456     3.70  8.695   6.520   15.326    8.662      0.520    353
591--600            212   39,272,158     4.70  8.550   6.535   15.203    8.491      0.520    354
601--610            279   56,055,341     6.71  8.337   6.239   14.992    8.260      0.520    351
611--620            282   57,116,684     6.84  8.373   6.344   14.874    8.205      0.520    351
621--630            371   75,365,960     9.03  8.378   6.355   14.837    8.173      0.520    346
631--640            321   61,902,076     7.41  8.325   6.396   14.855    8.148      0.520    350
641--650            292   57,695,816     6.91  8.269   6.393   14.894    8.133      0.520    350
651--660            246   54,084,976     6.48  8.199   6.304   14.829    7.993      0.520    348
661--670            220   45,659,886     5.47  8.126   6.233   14.789    8.006      0.520    348
671--680            170   37,142,875     4.45  8.035   6.199   14.607    7.893      0.520    350
681--690            131   27,825,714     3.33  8.121   5.979   14.688    8.009      0.520    346
691--700            106   26,631,415     3.19  7.993   5.970   14.444    7.878      0.520    347
701--710             77   17,415,619     2.09  8.029   6.039   14.787    7.998      0.520    347
711--720             62   13,971,141     1.67  8.002   5.906   14.699    7.843      0.520    349
721--730             55   11,431,918     1.37  7.933   5.955   14.536    7.772      0.520    345
731--740             43    9,575,220     1.15  8.098   6.250   14.899    8.093      0.520    351
741--750             34    7,195,677     0.86  8.115   5.936   14.817    8.097      0.520    356
751--760             33    7,162,409     0.86  8.112   6.089   15.011    8.091      0.520    352
761--770             14    4,268,716     0.51  7.890   6.175   14.415    7.735      0.520    348
771--780             18    4,984,590     0.60  7.631   6.240   14.090    7.455      0.520    347
781--790             15    4,195,538     0.50  7.606   6.310   14.499    7.675      0.520    344
791--800              4      805,699     0.10  8.766   6.696   15.465    8.465      0.520    335
801--810              5      857,101     0.10  7.897   6.333   13.552    7.135      0.520    317
811--820              1      118,759     0.01  7.375   6.050   14.375    7.375      0.520    359
-------------------------------------------------------------------------------------------------
Total:             4207  834,934,301   100.00  8.458   6.361   15.071    8.349      0.520    351
-------------------------------------------------------------------------------------------------


                                                   Month
FICO Spreadsheet   Rem   Orig  Initial  Periodic  to Next  Provided  Known    Avg    LTV>80
     Request      Amort  Term    Cap       Cap      Adj       LTV    FICOs  Balance   w MI
-------------------------------------------------------------------------------------------

500--500           376    356   2.710     1.407      23      72.18    500   152,499   0.00
501--510           392    360   2.118     1.420      25      73.26    505   164,242   0.00
511--520           386    358   2.529     1.319      24      71.36    515   162,544   0.00
521--530           386    360   2.447     1.383      25      71.22    526   169,624   0.00
531--540           395    360   2.533     1.314      25      72.93    535   178,563   0.00
541--550           384    359   2.524     1.338      25      74.55    546   172,309   0.00
551--560           405    360   2.566     1.313      24      77.75    555   174,662   0.00
561--570           402    360   2.580     1.366      25      77.49    566   182,836   0.00
571--580           408    358   2.644     1.346      25      78.61    576   198,506   0.00
581--590           400    356   2.518     1.339      24      80.52    586   176,700   0.00
591--600           407    357   2.548     1.307      23      80.22    596   185,246   0.00
601--610           393    355   2.424     1.331      23      81.47    606   200,915   0.00
611--620           390    354   2.445     1.312      22      81.59    615   202,541   0.00
621--630           396    350   2.545     1.329      23      81.76    626   203,143   0.00
631--640           403    353   2.463     1.367      23      81.27    635   192,841   0.00
641--650           395    353   2.543     1.367      23      81.44    645   197,588   0.00
651--660           395    351   2.572     1.373      23      82.17    655   219,858   0.00
661--670           394    351   2.566     1.354      23      81.71    665   207,545   0.00
671--680           388    353   2.573     1.381      23      81.14    676   218,487   0.00
681--690           379    350   2.433     1.339      23      81.41    685   212,410   0.00
691--700           395    350   2.461     1.324      24      81.63    695   251,240   0.00
701--710           410    350   2.468     1.337      24      84.58    705   226,177   0.00
711--720           402    352   2.261     1.384      23      81.41    715   225,341   0.00
721--730           389    348   2.557     1.298      24      81.99    725   207,853   0.00
731--740           392    354   2.397     1.328      23      83.77    736   222,680   0.00
741--750           400    359   2.347     1.406      23      81.96    746   211,638   0.00
751--760           390    355   2.584     1.386      23      81.52    756   217,043   0.00
761--770           384    351   2.431     1.406      22      81.45    765   304,908   0.00
771--780           379    351   2.291     1.474      22      81.96    775   276,922   0.00
781--790           376    347   2.391     1.329      26      79.19    786   279,703   0.00
791--800           416    338   2.310     1.500      22      85.02    793   201,425   0.00
801--810           353    325   3.000     1.208      17      85.44    806   171,420   0.00
811--820           479    360   2.000     1.500      23      90.00    814   118,759   0.00
-------------------------------------------------------------------------------------------
Total:             395    354   2.501     1.347      23      80.13    626   198,463   0.00
-------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



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         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                            ASSET-BACKED SECURITIES

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                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
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department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
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     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
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notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
MET WEST                                                           4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Purpose                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Purchase                           1,871    357,138,841      42.77      8.464       346        82.85       656
Refinance--Rate Term                 226     39,879,430       4.78      8.331       352        80.94       614
Refinance--Cashout                 2,110    437,916,030      52.45      8.465       355        77.84       603
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
  Range of Combined Original     Mortgage    Principal    Principal   Interest      Term     Original     FICO
        LTV Ratios (%)             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

10.01--15.00                           1        149,735       0.02       6.625      358       14.63      668
15.01--20.00                           4        430,264       0.05       8.793      356       18.12      550
20.01--25.00                           7      1,072,051       0.13       7.404      327       23.60      599
25.01--30.00                           7        789,898       0.09       7.722      328       27.12      614
30.01--35.00                           8      1,258,495       0.15       7.747      358       32.73      636
35.01--40.00                          19      3,272,611       0.39       8.493      357       38.59      594
40.01--45.00                          39      6,037,573       0.72       8.033      354       42.50      587
45.01--50.00                          48      7,555,973       0.90       8.191      357       47.94      602
50.01--55.00                          53      9,792,664       1.17       8.349      350       52.87      581
55.01--60.00                          72     11,824,393       1.42       7.977      350       57.94      593
60.01--65.00                         122     23,050,855       2.76       8.603      355       63.37      574
65.01--70.00                         192     37,536,122       4.50       8.710      356       68.87      581
70.01--75.00                         288     60,082,262       7.20       8.471      354       73.95      580
75.01--80.00                       1,759    408,554,737      48.93       8.082      357       79.84      643
80.01--85.00                         437     87,800,198      10.52       8.668      356       84.51      606
85.01--90.00                         449     98,133,687      11.75       8.684      356       89.55      627
90.01--95.00                         194     39,254,353       4.70       8.969      355       94.65      643
95.01--100.00                        508     38,338,430       4.59      10.898      248       99.87      652
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00       8.458      351       80.13      626
----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
MET WEST                                                           4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Documentation Level         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Stated Documentation               2,137    456,501,438      54.68      8.630       350        80.07       641
Full Documentation                 1,897    342,451,104      41.02      8.246       353        80.02       607
Limited Documentation                173     35,981,758       4.31      8.300       347        81.92       619
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
MET WEST                                                           4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION BY STATE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
          Geographic                of          Date         Date       Gross    Remaining   Combined    Average
         Distribution            Mortgage    Principal    Principal   Interest      Term     Original     FICO
           by State               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Alabama                               20      1,519,188       0.18      9.329       343        81.08       558
Alaska                                 1        133,713       0.02      9.150       356        80.00       659
Arizona                              175     31,983,040       3.83      8.512       353        78.87       612
Arkansas                              11      1,463,672       0.18      9.051       358        81.69       590
California                           915    271,051,190      32.46      8.166       347        80.11       641
Colorado                              55      8,053,445       0.96      8.508       347        81.52       630
Connecticut                           74     14,903,474       1.78      8.554       356        78.40       616
Delaware                              10      1,743,122       0.21      8.938       353        80.69       621
District of Columbia                   7      2,015,943       0.24      7.838       357        74.39       640
Florida                              666    119,157,019      14.27      8.545       350        79.54       622
Georgia                               92     13,333,788       1.60      8.939       356        82.98       614
Hawaii                                27     11,337,657       1.36      8.095       357        78.34       652
Idaho                                 24      3,303,212       0.40      9.198       358        85.33       612
Illinois                             323     57,253,943       6.86      8.729       351        81.62       622
Indiana                               47      4,368,331       0.52      9.271       354        85.90       593
Iowa                                  13      1,436,424       0.17      9.099       354        78.52       602
Kansas                                19      2,186,016       0.26      9.111       348        76.18       588
Kentucky                              11        933,526       0.11      8.681       346        82.57       593
Louisiana                             21      2,482,711       0.30      8.809       353        83.67       608
Maine                                  8      1,601,769       0.19      8.332       357        89.72       657
Maryland                             115     25,717,947       3.08      8.335       356        78.32       613
Massachusetts                         90     20,615,447       2.47      8.671       355        81.80       617
Michigan                             125     13,436,421       1.61      9.272       354        82.68       594
Minnesota                             20      3,885,830       0.47      8.431       355        81.04       627
Mississippi                            6        525,541       0.06     10.289       342        90.47       570
Missouri                              66      7,492,887       0.90      9.323       356        84.41       596
Montana                                1        297,455       0.04     10.150       359        73.46       566
Nebraska                               4        323,119       0.04      9.080       358        87.25       612
Nevada                                93     19,876,786       2.38      8.152       350        81.56       636
New Hampshire                          6      1,140,538       0.14      8.679       357        82.39       639
New Jersey                            78     20,673,940       2.48      8.901       357        77.01       607
New Mexico                            15      2,654,555       0.32      8.607       357        84.27       607
New York                             139     41,732,227       5.00      8.075       356        76.69       650
North Carolina                        41      4,797,170       0.57      9.013       356        81.62       615
North Dakota                           4        438,790       0.05      9.379       358        92.38       588
Ohio                                  50      4,958,808       0.59      9.482       350        84.45       596
Oklahoma                              12      1,193,942       0.14      8.964       351        82.49       640
Oregon                                48      8,388,711       1.00      8.274       355        79.82       606
Pennsylvania                         125     15,389,417       1.84      8.798       355        81.23       608
Rhode Island                          74     15,231,725       1.82      8.545       357        79.23       617
South Carolina                         9        699,965       0.08      9.491       357        84.47       642
South Dakota                           1         85,158       0.01      8.950       357        63.19       514
Tennessee                             64      7,215,692       0.86      9.170       356        82.74       609
Texas                                267     26,645,529       3.19      8.714       343        81.65       615
Utah                                  15      2,950,694       0.35      8.559       357        80.61       630
Vermont                                2        201,986       0.02      7.412       357        71.05       597
Virginia                              99     17,526,643       2.10      8.716       353        78.29       608
Washington                            87     16,283,977       1.95      8.239       351        80.51       606
Wisconsin                             30      3,942,375       0.47      8.739       349        82.91       622
Wyoming                                2        349,843       0.04      8.195       359        75.02       569
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


Number of States Represented: 50

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct     Pct     Pct   Weighted
 Range of Gross Interest  Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full   Owner   Fixed   Average
        Rates (%)           Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc     Occ    Rate      DTI
------------------------------------------------------------------------------------------------------------------------------------

5.000--5.999                    4     1,142,614      0.14     5.897      356       68.44      662    76.29  100.00    0.00    44.12
6.000--6.999                  260    68,694,226      8.23     6.728      355       75.82      660    64.71   98.11   19.60    43.16
7.000--7.999                1,139   288,353,399     34.54     7.616      356       78.95      646    44.16   95.73    8.61    42.74
8.000--8.999                1,232   256,222,317     30.69     8.530      356       79.63      620    36.78   92.40    9.78    42.59
9.000--9.999                  809   144,431,178     17.30     9.514      355       81.43      595    34.18   85.83    9.25    43.12
10.000--10.999                388    47,407,285      5.68    10.501      333       85.15      588    39.93   84.37   23.42    42.27
11.000--11.999                236    20,330,593      2.43    11.514      258       89.99      612    30.73   96.49   74.67    42.99
12.000--12.999                100     6,606,772      0.79    12.431      244       97.81      633    13.73   91.01   82.95    43.76
13.000--13.999                 37     1,637,585      0.20    13.410      219       99.71      628     6.76   97.09  100.00    43.33
14.000--14.999                  2       108,333      0.01    14.151      257      100.00      637     0.00  100.00  100.00    47.49
------------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02   92.54   13.20    42.79
------------------------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

LIEN POSITION


                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct     Pct     Pct   Weighted
                          Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full   Owner   Fixed   Average
      Lien Position         Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc     Occ    Rate      DTI
------------------------------------------------------------------------------------------------------------------------------------

1st Lien                    3,747   805,760,512     96.51     8.349      356       79.43      625    41.68   92.29   10.06    42.75
2nd Lien                      460    29,173,789      3.49    11.483      208       99.52      657    22.77   99.38  100.00    43.71
------------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02   92.54   13.20    42.79
------------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct     Pct     Pct   Weighted
  Range of Cut-off Date   Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full   Owner   Fixed   Average
 Principal Balances ($)     Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc     Occ    Rate      DTI
------------------------------------------------------------------------------------------------------------------------------------

0.01--25,000.00                31       673,662      0.08    11.023      269       99.81      650    34.61  100.00  100.00    44.15
25,000.01--50,000.00          217     8,609,762      1.03    11.184      254       93.39      633    37.38   91.63   86.88    40.07
50,000.01--75,000.00          368    23,374,011      2.80    10.133      297       85.80      619    49.77   87.53   54.33    39.96
75,000.01--100,000.00         411    36,041,776      4.32     9.306      326       82.48      613    53.24   88.96   39.54    40.08
100,000.01--125,000.00        446    50,423,050      6.04     9.043      339       79.89      607    57.41   90.84   26.08    40.70
125,000.01--150,000.00        401    55,346,959      6.63     8.770      351       78.26      608    51.61   93.71   17.57    41.57
150,000.01--175,000.00        353    57,212,084      6.85     8.643      353       77.83      611    54.04   90.81   16.45    42.15
175,000.01--200,000.00        344    64,684,246      7.75     8.466      356       78.47      617    45.46   90.96    9.63    43.03
200,000.01--225,000.00        279    59,356,344      7.11     8.352      357       79.43      626    41.71   91.88    6.80    43.08
225,000.01--250,000.00        241    57,191,618      6.85     8.343      357       78.87      620    38.95   92.47   10.41    44.00
250,000.01--275,000.00        183    47,999,943      5.75     8.193      357       79.91      619    48.15   94.54    3.79    42.99
275,000.01--300,000.00        163    46,951,780      5.62     8.179      356       79.05      623    39.90   97.58    8.72    43.66
300,000.01--325,000.00        131    40,901,155      4.90     8.122      357       79.24      626    29.77   93.83    7.59    44.47
325,000.01--350,000.00        109    36,783,058      4.41     8.248      357       80.75      631    30.28   90.74    6.39    43.13
350,000.01--375,000.00         78    28,168,660      3.37     8.110      357       79.36      649    34.47   93.61   11.54    43.25
375,000.01--400,000.00         86    33,483,287      4.01     8.081      357       80.31      644    26.65   91.92    5.85    43.85
400,000.01--425,000.00         68    28,047,213      3.36     8.098      356       81.41      636    27.72   97.04    7.27    44.27
425,000.01--450,000.00         54    23,720,988      2.84     7.982      357       80.96      629    29.61   98.17    1.90    43.62
450,000.01--475,000.00         39    18,005,723      2.16     8.065      357       80.86      652    33.17   92.19    2.64    42.95
475,000.01--500,000.00         58    28,411,352      3.40     8.033      356       80.58      644    29.16   93.21    5.15    44.41
500,000.01--525,000.00         26    13,293,182      1.59     7.917      357       82.20      665    26.87  100.00   11.55    44.91
525,000.01--550,000.00         22    11,808,025      1.41     8.011      357       81.59      628    40.83   95.47    4.46    40.19
550,000.01--575,000.00         17     9,532,474      1.14     8.305      356       82.69      634    35.19  100.00   17.70    42.75
575,000.01--600,000.00         24    14,126,459      1.69     8.045      357       79.94      649    29.12   91.63    8.40    44.28
600,000.01 >=                  58    40,787,491      4.89     8.220      356       81.77      653    35.78   85.65    1.60    42.38
------------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02   92.54   13.20    42.79
------------------------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF ORIGINAL COMBINED LTV RATIOS (%)



                                                   % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct    Pct    Pct   Weighted
    Range of Original     Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full  Owner  Fixed   Average
 Combined LTV Ratios (%)    Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc    Occ    Rate     DTI
----------------------------------------------------------------------------------------------------------------------------------

<= 30.00                       19     2,441,948      0.29     7.704      335       23.23      600    29.84  95.50  30.40    41.06
30.01--40.00                   27     4,531,106      0.54     8.286      357       36.97      606    30.52  92.51  33.71    41.86
40.01--50.00                   87    13,593,545      1.63     8.121      355       45.52      595    58.80  91.15  27.43    39.00
50.01--60.00                  125    21,617,057      2.59     8.145      350       55.64      588    52.57  89.79  19.06    41.48
60.01--70.00                  314    60,586,977      7.26     8.669      355       66.78      578    44.51  92.24  15.63    41.58
70.01--80.00                2,047   468,636,999     56.13     8.132      356       79.08      635    36.10  95.85   7.09    43.15
80.01--90.00                  886   185,933,886     22.27     8.676      356       87.17      617    47.24  86.68  12.35    42.59
90.01--100.00                 702    77,592,783      9.29     9.923      302       97.23      648    47.70  87.72  44.33    43.14
----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02  92.54  13.20    42.79
----------------------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF CURRENT COMBINED LTV RATIOS (%)



                                                   % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct    Pct    Pct   Weighted
    Range of Current      Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full  Owner  Fixed   Average
 Combined LTV Ratios (%)    Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc    Occ    Rate     DTI
----------------------------------------------------------------------------------------------------------------------------------

<= 30.00                       20     2,483,009      0.30     7.723      335       24.00      600    29.35  93.92  29.89    41.12
30.01--40.00                   28     4,688,982      0.56     8.380      357       37.07      604    29.49  92.76  32.57    41.54
40.01--50.00                   86    13,435,669      1.61     8.086      355       45.59      596    59.49  91.04  27.75    39.08
50.01--60.00                  127    21,898,359      2.62     8.143      349       55.71      587    52.81  89.55  19.19    41.59
60.01--70.00                  311    60,264,613      7.22     8.672      356       66.80      578    44.42  92.40  15.58    41.54
70.01--80.00                2,047   468,636,999     56.13     8.132      356       79.08      635    36.10  95.85   7.09    43.15
80.01--90.00                  886   185,933,886     22.27     8.676      356       87.17      617    47.24  86.68  12.35    42.59
90.01--100.00                 702    77,592,783      9.29     9.923      302       97.23      648    47.70  87.72  44.33    43.14
----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02  92.54  13.20    42.79
----------------------------------------------------------------------------------------------------------------------------------


Minimum: 14.61
Maximum: 100.00
Weighted Average: 80.03

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF CREDIT SCORES



                                                   % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct     Pct    Pct   Weighted
                          Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full   Owner  Fixed   Average
 Range of Credit Scores     Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc     Occ    Rate     DTI
-----------------------------------------------------------------------------------------------------------------------------------

500--525                      296    48,795,120      5.84     9.533      356       71.84      512    68.31   98.01  11.26    42.52
526--550                      307    53,224,358      6.37     9.286      357       73.50      538    52.16   98.35  13.23    41.95
551--575                      350    63,624,535      7.62     8.907      356       77.54      563    56.66   96.86   9.58    42.39
576--600                      475    87,827,159     10.52     8.655      354       80.19      589    54.62   93.72  11.38    42.59
601--625                      732   149,278,723     17.88     8.350      351       81.36      613    50.32   94.13  12.39    42.56
626--650                      813   158,857,154     19.03     8.327      349       81.66      637    33.89   91.09  14.86    43.12
651--675                      548   117,092,099     14.02     8.167      348       81.90      662    25.75   90.40  15.39    43.36
676--700                      325    74,252,767      8.89     8.019      348       81.32      687    25.14   89.06  14.22    43.02
701--725                      172    37,861,129      4.53     8.016      347       82.87      712    25.30   88.39  12.79    42.65
726--750                       99    21,728,446      2.60     8.042      352       82.94      737    26.14   81.33  13.54    42.98
751--775                       58    14,175,457      1.70     7.992      350       81.64      762    13.75   86.76   9.93    42.46
776--800                       26     7,241,494      0.87     7.664      344       80.58      784    31.03   95.15  20.23    42.41
Above 800                       6       975,860      0.12     7.833      323       86.00      807    12.17  100.00  23.89    45.68
-----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02   92.54  13.20    42.79
-----------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct     Pct    Pct   Weighted
                          Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full   Owner  Fixed   Average
   Documentation Level      Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc     Occ    Rate     DTI
-----------------------------------------------------------------------------------------------------------------------------------

Stated Documentation        2,137   456,501,438     54.68     8.630      350       80.07      641      0.00  92.03  10.94    43.49
Full Documentation          1,897   342,451,104     41.02     8.246      353       80.02      607    100.00  93.63  16.10    42.19
Limited/Alternate
   Documentation              173    35,981,758      4.31     8.300      347       81.92      619      0.00  88.61  14.24    39.66
-----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626     41.02  92.54  13.20    42.79
-----------------------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct    Pct    Pct   Weighted
                          Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full  Owner  Fixed   Average
      Loan Purpose          Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc    Occ    Rate     DTI
----------------------------------------------------------------------------------------------------------------------------------

Refinance--Cashout          2,110   437,916,030     52.45     8.465      355       77.84      603    48.31  93.28  14.66    42.40
Purchase                    1,871   357,138,841     42.77     8.464      346       82.85      656    29.88  91.51   9.98    43.36
Refinance--Rate Term          226    39,879,430      4.78     8.331      352       80.94      614    60.70  93.51  26.05    41.84
----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02  92.54  13.20    42.79
----------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

OCCUPANCY TYPE



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct     Pct    Pct   Weighted
                          Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full   Owner  Fixed   Average
     Occupancy Type         Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc     Occ    Rate     DTI
-----------------------------------------------------------------------------------------------------------------------------------

Primary                     3,860   772,614,335     92.54     8.414      350       79.97      624    41.50  100.00  13.50    42.96
Non-Owner Occupied            294    49,653,254      5.95     9.026      356       81.90      652    35.11    0.00  11.25    39.87
Second Home                    53    12,666,712      1.52     8.902      356       82.77      652    34.62    0.00   2.34    43.72
-----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02   92.54  13.20    42.79
-----------------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct    Pct    Pct   Weighted
                          Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full  Owner  Fixed   Average
      Property Type         Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc    Occ    Rate     DTI
----------------------------------------------------------------------------------------------------------------------------------

Single Family Residence     3,421   651,774,116     78.06     8.460      351       80.29      622    42.18  94.31  13.69    42.86
2-4 Family                    300    78,056,397      9.35     8.502      352       78.31      645    31.73  79.65  15.71    42.95
Planned Unit Development      216    53,080,620      6.36     8.308      352       80.00      628    42.50  94.08   8.22    41.86
Condominium                   270    52,023,168      6.23     8.519      350       80.96      641    38.86  88.06   8.34    42.52
----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02  92.54  13.20    42.79
----------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                    % of
                                                  Mortgage
                                     Aggregate    Pool by   Weighted             Weighted
                                      Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                           Number       Date      Cut-off     Gross    Average   Original  Weighted
                             of      Principal      Date    Interest  Remaining  Combined   Average   Pct    Pct    Pct   Weighted
 Geographic Distribution  Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full  Owner  Fixed   Average
 of Mortgaged Properties    Loans       ($)       Balance      (%)     (Months)     (%)      Score    Doc    Occ    Rate     DTI
----------------------------------------------------------------------------------------------------------------------------------

California                    915   271,051,190     32.46     8.166      347       80.11      641    30.43  93.29   9.76    43.43
Florida                       666   119,157,019     14.27     8.545      350       79.54      622    37.77  89.69  12.26    42.90
Illinois                      323    57,253,943      6.86     8.729      351       81.62      622    36.71  91.99  12.48    43.86
New York                      139    41,732,227      5.00     8.075      356       76.69      650    33.61  95.45  25.21    42.92
Arizona                       175    31,983,040      3.83     8.512      353       78.87      612    39.29  97.52   7.49    42.12
Texas                         267    26,645,529      3.19     8.714      343       81.65      615    53.30  91.46  39.66    40.49
Maryland                      115    25,717,947      3.08     8.335      356       78.32      613    62.66  95.99  10.06    41.93
New Jersey                     78    20,673,940      2.48     8.901      357       77.01      607    46.58  96.81  15.30    43.48
Massachusetts                  90    20,615,447      2.47     8.671      355       81.80      617    51.67  94.14  13.90    44.17
Nevada                         93    19,876,786      2.38     8.152      350       81.56      636    34.80  90.00  10.44    43.93
Virginia                       99    17,526,643      2.10     8.716      353       78.29      608    50.08  95.05  15.28    43.44
Washington                     87    16,283,977      1.95     8.239      351       80.51      606    63.25  96.33  10.06    42.60
Pennsylvania                  125    15,389,417      1.84     8.798      355       81.23      608    59.09  92.25  17.55    40.06
Rhode Island                   74    15,231,725      1.82     8.545      357       79.23      617    29.40  96.81  10.21    42.97
Connecticut                    74    14,903,474      1.78     8.554      356       78.40      616    54.29  99.25  13.92    44.29
Other                         887   120,891,996     14.48     8.852      354       82.05      613    57.16  88.30  14.19    41.06
----------------------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301    100.00     8.458      351       80.13      626    41.02  92.54  13.20    42.79
----------------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
Meta Capital                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF REMAINING TERMS (MONTHS)



                                              % of
                                            Mortgage
                               Aggregate    Pool by   Weighted             Weighted
                                Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                     Number       Date      Cut-off     Gross    Average   Original  Weighted
                       of      Principal      Date    Interest  Remaining  Combined   Average   Pct      Pct     Pct   Weighted
Range of Remaining  Mortgage    Balance    Principal    Rate       Term       LTV      FICO     Full    Owner   Fixed   Average
   Terms(Months)      Loans       ($)       Balance      (%)     (Months)     (%)     Score     Doc      Occ    Rate      DTI
-------------------------------------------------------------------------------------------------------------------------------

109--120                  7       496,311      0.06     8.252      117      64.85       631     43.02   83.56  100.00    41.82
169--180                377    25,855,356      3.10    11.213      176      96.89       656     26.63   99.28  100.00    43.63
229--240                 24     1,990,559      0.24     8.449      237      75.91       634     45.19  100.00  100.00    42.81
289--300                  3       245,515      0.03     8.559      298      84.90       622     79.78  100.00  100.00    41.39
337--348                  1        73,261      0.01    10.240      348      99.97       615    100.00  100.00  100.00    32.30
349--360              3,795   806,273,299     96.57     8.370      357      79.61       625     41.45   92.30   10.11    42.76
-------------------------------------------------------------------------------------------------------------------------------
Total:                4,207   834,934,301    100.00     8.458      351      80.13       626     41.02   92.54   13.20    42.79
-------------------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
Meta Capital                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PRODUCT TYPES



                                                % of
                                               Mortgage
                                  Aggregate    Pool by   Weighted             Weighted
                                   Cut-off    Aggregate   Average   Weighted   Average  Non-Zero
                        Number       Date      Cut-off     Gross    Average   Original  Weighted
                          of      Principal      Date    Interest  Remaining  Combined   Average    Pct     Pct     Pct   Weighted
                       Mortgage    Balance    Principal    Rate      Term        LTV      FICO     Full    Owner   Fixed   Average
   Product Types         Loans       ($)       Balance      (%)     (Months)     (%)      Score     Doc     Occ    Rate      DTI
----------------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year               7       496,311      0.06     8.252      117       64.85      631     43.02   83.56  100.00    41.82
Fixed--15 Year              23     1,940,686      0.23     8.448      177       69.52      634     73.39   97.36  100.00    39.55
Fixed--20 Year              24     1,990,559      0.24     8.449      237       75.91      634     45.19  100.00  100.00    42.81
Fixed--25 Year               3       245,515      0.03     8.559      298       84.90      622     79.78  100.00  100.00    41.39
Fixed--30 Year             489    62,069,627      7.43     8.684      357       78.47      620     56.68   91.71  100.00    40.85
Interest Only
   Fixed--30 Year           15     4,811,985      0.58     7.474      357       77.31      655     46.70   93.47  100.00    41.74
Balloon--15/30             354    23,914,670      2.86    11.437      176       99.11      657     22.83   99.43  100.00    43.93
Balloon--30/40              67    14,725,319      1.76     7.933      357       78.80      627     64.70   98.93  100.00    42.76
ARM--1 Year/6 Month          2       542,838      0.07     7.742      352       84.95      602      0.00  100.00    0.00    47.25
ARM--2 Year/6 Month      1,203   227,698,738     27.27     8.687      357       79.02      614     39.42   85.20    0.00    42.07
ARM--3 Year/6 Month        488    77,786,208      9.32     8.903      357       78.83      592     51.23   95.00    0.00    42.71
ARM--5 Year/6 Month         12     1,990,884      0.24     8.472      357       76.09      631     17.81   75.77    0.00    42.15
ARM--2 Year/6 Month--
   Balloon--30/40          789   213,147,286     25.53     8.242      357       80.12      626     37.24   93.53    0.00    43.39
ARM--3 Year/6 Month--
   Balloon--30/40          211    44,732,369      5.36     8.383      357       80.00      616     43.25   97.08    0.00    43.87
ARM--2 Year/6 Month--
   Balloon--30/50            1       203,935      0.02     8.450      357       80.00      625    100.00  100.00    0.00    51.37
Interest Only Arm--
   2 Year/6 Month          424   132,706,238     15.89     7.778      356       80.76      658     37.14   98.25    0.00    43.34
Interest Only Arm--
   3 Year/6 Month           85    23,093,944      2.77     7.774      357       80.55      665     32.89   95.90    0.00    43.21
Interest Only Arm--
   5 Year/6 Month            7     1,895,839      0.23     7.240      358       77.91      676     73.63  100.00    0.00    42.51
Dual Amort--10/40--
   2 Year/6 Month            3       941,351      0.11     7.192      352       75.59      631     14.39  100.00    0.00    49.84
----------------------------------------------------------------------------------------------------------------------------------
Total:                   4,207   834,934,301    100.00     8.458      351       80.13      626     41.02   92.54   13.20    42.79
----------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
Meta Capital                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                              % of
                                             Mortgage
                                Aggregate    Pool by    Weighted             Weighted
                                 Cut-off    Aggregate   Average    Weighted   Average  Non-Zero
                      Number       Date      Cut-off     Gross     Average   Original  Weighted
                        of      Principal      Date     Interest  Remaining  Combined   Average   Pct    Pct     Pct   Weighted
Subsequent Periodic  Mortgage    Balance    Principal     Rate       Term      LTV       FICO     Full  Owner   Fixed   Average
      Cap (%)          Loans       ($)       Balance      (%)      (Months)     (%)      Score    Doc    Occ    Rate      DTI
-------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans         982   110,194,672     13.20     9.118       311       82.69     631     50.05  94.66  100.00    41.85
1.000                    929   226,572,420     27.14     8.360       356       80.12     624     43.55  90.99    0.00    42.55
1.500                  2,280   493,139,917     59.06     8.360       357       79.62     626     38.12  92.76    0.00    43.08
2.000                     16     5,027,292      0.60     8.097       352       74.50     646     13.06  93.61    0.00    44.37
-------------------------------------------------------------------------------------------------------------------------------
Total:                 4,207   834,934,301    100.00     8.458       351       80.13     626     41.02  92.54   13.20    42.79
-------------------------------------------------------------------------------------------------------------------------------


Minimum: 1.000
Maximum: 2.000
Weighted Average: 1.347

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                               % of
                                             Mortgage
                               Aggregate      Pool by    Weighted  Weighted   Weighted  Non-Zero
                     Number     Cut-off      Aggregate    Average   Average    Average  Weighted
                       of        Date      Cut-off Date    Gross   Remaining  Original   Average   Pct     Pct     Pct   Weighted
 Range of Maximum   Mortgage   Principal     Principal   Interest    Term     Combined    FICO     Full   Owner   Fixed   Average
Mortgage Rates (%)    Loans   Balance ($)     Balance    Rate (%)  (Months)    LTV (%)    Score    Doc     Occ    Rate     DTI
---------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans        982   110,194,672      13.20       9.118      311       82.69      631    50.05   94.66  100.00    41.85
<= 12.500                54    17,265,869       2.07       6.913      356       76.07      648    70.09   89.88    0.00    43.68
12.501--13.000           84    23,768,286       2.85       7.531      356       80.70      643    59.14   94.64    0.00    42.87
13.001--13.500          104    29,105,055       3.49       7.372      357       79.07      641    62.93   98.36    0.00    42.84
13.501--14.000          250    64,577,386       7.73       7.435      357       77.48      638    50.94   95.84    0.00    43.69
14.001--14.500          346    90,057,163      10.79       7.562      357       79.18      650    42.37   96.37    0.00    42.43
14.501--15.000          619   154,283,391      18.48       7.944      357       79.26      640    34.77   94.68    0.00    43.13
15.001--15.500          430    98,102,008      11.75       8.415      357       80.11      628    32.53   93.48    0.00    42.56
15.501--16.000          519   104,486,319      12.51       8.868      357       79.87      610    34.22   90.17    0.00    42.75
16.001--16.500          280    56,049,693       6.71       9.320      357       81.65      610    26.13   84.85    0.00    43.28
16.501--17.000          296    52,923,224       6.34       9.824      357       81.01      576    38.49   86.71    0.00    43.52
17.001--17.500          115    17,008,201       2.04      10.313      357       82.49      567    41.09   81.73    0.00    42.88
17.501--18.000           92    12,477,295       1.49      10.838      357       83.97      572    50.18   78.97    0.00    40.53
18.001--18.500           21     2,692,761       0.32      11.216      357       76.37      546    59.67   91.07    0.00    40.41
18.501--19.000            5       521,670       0.06      11.794      358       90.79      563    92.34   85.34    0.00    41.85
19.001--19.500            4       596,608       0.07      12.107      355       86.35      598    18.64   89.28    0.00    41.67
19.501--20.000            5       479,972       0.06      12.870      358       91.39      666     0.00    0.00    0.00    39.57
23.501--24.000            1       344,727       0.04       8.350      356       80.00      596     0.00  100.00    0.00    39.16
---------------------------------------------------------------------------------------------------------------------------------
Total:                4,207   834,934,301     100.00       8.458      351       80.13      626    41.02   92.54   13.20    42.79
---------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     12



IXIS 2006-HE3                                                     MORGAN STANLEY
META CAPITAL                                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                               % of
                                             Mortgage
                               Aggregate      Pool by    Weighted  Weighted   Weighted  Non-Zero
                     Number     Cut-off      Aggregate    Average   Average    Average  Weighted
                       of        Date      Cut-off Date    Gross   Remaining  Original   Average   Pct     Pct     Pct   Weighted
Range of Gross      Mortgage   Principal     Principal   Interest    Term     Combined    FICO     Full   Owner   Fixed   Average
 Margins (%)          Loans   Balance ($)     Balance    Rate (%)   (Months)   LTV (%)    Score    Doc     Occ    Rate     DTI
---------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans        982   110,194,672      13.20       9.118      311       82.69      631    50.05   94.66  100.00    41.85
<=5.000                 194    49,145,754       5.89       7.836      357       78.72      652    39.37   97.98    0.00    42.25
5.001--5.500            344    95,334,837      11.42       8.176      356       80.87      638    40.78   92.32    0.00    43.04
5.501--6.000            576   122,740,938      14.70       8.386      357       79.77      622    49.28   91.70    0.00    42.83
6.001--6.500            724   167,240,991      20.03       8.150      357       80.74      633    44.18   89.69    0.00    42.38
6.501--7.000            459   103,652,115      12.41       8.366      357       77.75      617    34.76   91.63    0.00    42.61
7.001--7.500            788   150,498,041      18.03       8.672      357       79.37      613    33.22   94.74    0.00    43.71
7.501--8.000             86    21,804,371       2.61       8.951      357       79.99      613    22.23   88.34    0.00    43.62
8.001--8.500             41    11,563,246       1.38       9.203      356       80.07      585    25.41   95.00    0.00    43.77
8.501--9.000              8     2,094,826       0.25       9.457      357       91.91      635    33.40   59.11    0.00    47.62
>=9.001                   5       664,509       0.08      10.255      357       80.97      606    29.04   81.95    0.00    48.80
---------------------------------------------------------------------------------------------------------------------------------
Total:                4,207   834,934,301     100.00       8.458      351       80.13      626    41.02   92.54   13.20    42.79
---------------------------------------------------------------------------------------------------------------------------------


Non Fixed Rate Minimum: 2.200
Maximum: 9.999
Non Fixed Rate Weighted Average: 6.361

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     13



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(c) 2005 Morgan Stanley
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   IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
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to you is conditioned on the securities and the underlying transaction having
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all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
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not a research report and was not prepared by the Morgan Stanley research
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performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
MSA TERMSHEET TABLE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

METROPOLITAN STATISTICAL AREA



                                                                    % of
                                                                  Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                           of          Date         Date       Gross    Remaining   Combined    Average
                                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Metropolitan Statistical Area         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------------

                                           330      49,474,248      5.93       8.753       354        80.07      610
Abilene-TX                                   1          79,858      0.01       8.650       357        62.99      547
Albany-Schenectady-Troy-NY                   8         936,902      0.11       8.675       358        76.41      605
Albuquerque-NM                              12       2,303,277      0.28       8.595       357        84.63      606
Allentown-Bethlehem-Easton-PA                9       1,209,569      0.14       9.439       357        81.85      567
Altoona-PA                                   1          78,138      0.01      10.499       358        85.00      524
Amarillo-TX                                  2         143,787      0.02       8.506       356        84.00      618
Anniston-AL                                  2         121,420      0.01       9.110       358        85.00      566
Appleton-Oshkosh-Neenah-WI                   1         110,605      0.01       9.250       358        80.00      596
Asheville-NC                                 3         536,262      0.06       7.818       357        79.92      634
Athens-GA                                    1         165,600      0.02       8.600       358        90.00      636
Atlanta-GA                                  64       9,904,026      1.19       8.764       357        82.45      620
Augusta-Aiken-GA                             1         100,864      0.01       9.975       357        89.38      637
Austin-San Marcos-TX                        15       1,784,110      0.21       8.676       351        80.54      608
Bakersfield-CA                              38       6,837,895      0.82       8.208       348        78.89      611
Bangor-ME                                    1          75,494      0.01       7.820       358        84.00      629
Barnstable-Yarmouth-MA                       2         823,490      0.10       8.384       357        87.56      622
Baton Rouge-LA                              10       1,022,153      0.12       9.041       347        83.50      607
Beaumont-Port Arthur-TX                      2         276,424      0.03       8.247       358        84.42      637
Bellingham-WA                                2         640,494      0.08       8.097       357        86.26      588
Benton Harbor-MI                             2         187,741      0.02       9.100       357        81.81      562
Biloxi-Gulfport-Pascagoula-MS                1         111,937      0.01       8.850       359        80.00      575
Birmingham-AL                                7         678,627      0.08       8.889       358        82.19      563
Boise City-ID                               15       2,155,294      0.26       9.312       358        85.13      606
Boston-Worcester-Lawrence-MA-NH-ME-CT       73      17,370,894      2.08       8.710       355        80.64      615
Brownsville-Harlingen-San Benito-TX          3         216,392      0.03       9.859       357        89.80      588
Bryan-College Station-TX                     1         154,806      0.02       8.350       358        77.50      620
Buffalo-Niagara Falls-NY                     5         468,762      0.06       8.722       358        80.00      628
Burlington-VT                                1          73,986      0.01       8.990       355        55.56      569
Cedar Rapids-IA                              1          45,656      0.01       9.100       357        84.69      552
Charlottesville-VA                           5         985,071      0.12       8.359       356        82.34      596
Charlotte-Gastonia-Rock Hill-NC-SC           5         645,296      0.08       8.808       358        81.64      636
Chattanooga-TN-GA                            3         359,979      0.04       9.183       357        86.72      596
Cheyenne-WY                                  1         279,920      0.03       8.000       359        79.77      572
Chicago-Gary-Kenosha-IL-IN-WI              301      54,465,246      6.52       8.733       351        81.54      622
Chico-Paradise-CA                            5         777,612      0.09       9.572       357        77.72      588
Cincinnati-Hamilton-OH-KY-IN                14       1,814,639      0.22       9.502       340        85.49      608
Clarksville-Hopkinsville-TN-KY               2         249,953      0.03       9.318       354        98.16      653
Cleveland-Akron-OH                          15       1,220,812      0.15       9.477       357        84.74      613
Colorado Springs-CO                         13       2,075,290      0.25       8.272       351        84.34      624
Columbia-SC                                  1          79,923      0.01       9.600       358        80.00      630
Columbus-GA-AL                               2         225,881      0.03      10.905       359        82.54      543
Columbus-OH                                 10       1,009,146      0.12       9.427       351        84.71      563
Corpus Christi-TX                            6         450,348      0.05       8.314       332        79.92      627
Dalla-Fort Worth-TX                         92       9,726,161      1.16       8.564       342        83.20      626
Davenport-Moline-Rock Island-IA-IL           3         246,340      0.03       8.356       284        83.03      651
Daytona Beach-FL                            26       4,041,038      0.48       8.353       353        78.98      623
Dayton-Springfield-OH                        1         141,044      0.02       9.950       356        90.00      560
Decatur-AL                                   1          54,898      0.01       9.499       359        73.23      633
Decatur-IL                                   1         203,788      0.02       9.255       358        85.00      558
Denver-Boulder-Greeley-CO                   35       4,855,670      0.58       8.440       343        80.37      639
Des Moines-IA                                6         744,977      0.09       9.174       356        71.55      588


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
MSA TERMSHEET TABLE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

METROPOLITAN STATISTICAL AREA



                                                                     % of
                                                                   Mortgage
                                                                   Pool by
                                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                            of          Date         Date       Gross    Remaining   Combined    Average
                                         Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Metropolitan Statistical Area          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------------

Detroit-Ann Arbor-Flint-MI                   76       8,467,961      1.01       9.203       354        82.18      598
Dothan-AL                                     1          57,868      0.01       7.415       357        65.17      584
Dover-DE                                      4         834,581      0.10       8.993       357        86.44      633
El Paso-TX                                    7         745,836      0.09       9.315       358        80.86      580
Enid-OK                                       1          50,251      0.01       8.700       355        90.00      758
Erie-PA                                       2         162,377      0.02       9.264       357        82.40      613
Eugene-Springfield-OR                         2         327,725      0.04       8.776       357        76.93      568
Fargo-Moorhead-ND-MN                          2         239,757      0.03      10.002       358        95.00      561
Fayetteville-Springdale-Rogers-AR             1          22,330      0.00       8.500       355       100.00      613
Florence-SC                                   1          98,800      0.01       7.475       358        80.00      602
Fort Collins-Loveland-CO                      1         179,813      0.02       7.350       357        80.00      665
Fort Myers-Cape Coral-FL                     47       7,622,940      0.91       8.680       346        80.64      634
Fort Pierce-Port St. Lucie-FL                22       3,735,315      0.45       8.817       342        82.01      618
Fort Smith-AR-OK                              1          37,966      0.00       8.850       356        46.91      541
Fort Wayne-IN                                 1          75,287      0.01      10.300       358        89.97      558
Fresno-CA                                    36       6,804,664      0.81       8.394       348        81.29      623
Glens Falls-NY                                1         127,903      0.02       7.390       359        80.00      623
Grand Junction-CO                             1         169,242      0.02       7.800       357        80.00      604
Grand Rapids-Muskegon-Holland-MI             14       1,605,361      0.19       9.306       356        83.13      591
Green Bay-WI                                  3         419,131      0.05       8.140       357        78.98      583
Greensboro-Winston-Salem-High Point-NC       10         871,761      0.10       9.227       357        84.27      607
Greenville-Spartanburg-Anderson-SC            5         311,273      0.04       9.656       357        85.15      636
Harrisburg-Lebanon-Carlisle-PA                5         502,843      0.06       9.284       329        78.81      579
Hartford-CT                                  23       3,933,794      0.47       8.770       355        79.01      608
Hickory-Morganton-Lenoir-NC                   2         130,448      0.02      10.690       357        84.27      590
Honolulu-HI                                  12       5,631,696      0.67       8.158       357        79.52      651
Houma-LA                                      2         182,886      0.02      10.282       356        85.89      542
Houston-Galveston-Brazoria-TX                88       8,398,491      1.01       8.793       339        81.31      617
Huntsville-AL                                 1          75,925      0.01       9.500       358        82.61      518
Indianapolis-IN                              19       1,715,606      0.21       9.058       355        86.90      599
Jacksonville-FL                              34       4,156,762      0.50       8.704       353        80.83      608
Jacksonville-NC                               1         110,958      0.01       7.650       357        80.00      633
Jackson-MI                                    3         373,333      0.04       9.169       357        79.15      618
Jackson-MS                                    3         278,791      0.03      10.794       329        94.49      572
Jackson-TN                                    7         612,537      0.07       9.610       342        87.44      568
Janesville-Beloit-WI                          1         100,703      0.01       9.600       358        80.00      658
Johnson City-Kingsport-Bristol-TN-VA          5         595,680      0.07       8.817       358        75.04      585
Johnstown-PA                                  1          95,891      0.01       8.838       358        80.00      597
Joplin-MO                                     1         295,639      0.04       8.490       358        80.00      670
Kalamazoo-Battle Creek-MI                     1         283,422      0.03       9.399       356        80.00      547
Kansas City-MO-KS                            32       3,742,238      0.45       9.325       356        84.03      593
Killeen-Temple-TX                             3         367,413      0.04       7.976       357        79.99      651
Knoxville-TN                                  6         732,605      0.09       8.747       358        82.62      685
Kokomo-IN                                     1          52,426      0.01      11.100       356        70.00      502
La Crosse-WI-MN                               1          84,191      0.01       6.990       357        80.00      677
Lafayette-IN                                  1         103,762      0.01       7.390       357        80.00      629
Lake Charles-LA                               1          92,755      0.01       7.590       357        83.00      637
Lakeland-Winter Haven-FL                     17       3,080,052      0.37       8.177       357        83.19      649
Lancaster-PA                                  1         102,026      0.01      10.800       356        65.00      592
Lansing-East Lansing-MI                       9         766,145      0.09       9.968       351        86.15      603
Laredo-TX                                     1         100,905      0.01       8.875       357        80.00      627
Las Vegas-NV-AZ                              87      18,505,571      2.22       8.143       349        81.44      638
Lawrence-KS                                   1         109,883      0.01       9.150       358        38.60      500
Lima-OH                                       1          49,937      0.01       9.850       358        72.05      537


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
MSA TERMSHEET TABLE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined   Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Metropolitan Statistical Area        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Lincoln-NE                                 1         124,423       0.01      8.950       359        95.00       604
Little Rock-North Little Rock-AR           5       1,015,418       0.12      8.848       358        82.30       592
Los Angeles-Riverside-Orange
   County-CA                             517     162,863,485      19.51      8.181       346        80.41       641
Louisville-KY-IN                           3         363,225       0.04      7.584       358        76.35       604
Lubbock-TX                                 2         210,895       0.03      7.696       357        82.31       607
Lynchburg-VA                               1         127,129       0.02      8.025       358        95.00       630
Macon-GA                                   4         310,464       0.04      9.469       357        82.24       603
Madison-WI                                 1          79,497       0.01      9.250       354        63.80       587
Mansfield-OH                               1         108,699       0.01      9.780       358        80.00       635
McAllen-Edinburg-Mission-TX                2         180,498       0.02      9.106       358        86.47       571
Medford-Ashland-OR                         2         418,909       0.05      8.123       358        79.25       636
Melbourne-Titusville-Palm Bay-FL          14       2,291,330       0.27      9.298       357        80.83       624
Memphis-TN-AR-MS                          22       2,633,425       0.32      8.749       357        83.48       616
Merced-CA                                 10       1,683,308       0.20      8.491       332        78.79       621
Miami-Fort Lauderdale-FL                 246      47,575,144       5.70      8.477       348        78.92       627
Milwaukee-Racine-WI                       12       1,777,927       0.21      8.705       346        83.11       625
Minneapolis-St. Paul-MN-WI                12       2,742,355       0.33      8.181       356        83.47       630
Mobile-AL                                  3         162,647       0.02     10.490       289        75.41       523
Modesto-CA                                21       5,867,736       0.70      8.340       351        81.77       635
Naples-FL                                 16       3,956,036       0.47      8.738       351        80.01       620
Nashville-TN                              12       1,531,897       0.18      9.962       357        81.61       602
New Haven-West Haven-Bridgeport-CT        37       7,860,646       0.94      8.488       357        77.90       613
New London-Norwich-CT-RI                   7       1,860,812       0.22      8.209       357        77.97       643
New Orleans-LA                             4         350,368       0.04      8.505       357        76.51       621
New York-Northern New Jersey-Long
   Island-NY-NJ-CT-PA                    160      53,487,008       6.41      8.247       356        76.35       642
Norfolk-Virginia Beach-Newport
   News-VA-NC                             36       5,172,412       0.62      9.096       352        80.55       593
Ocala-FL                                   8       1,163,182       0.14      8.373       357        82.45       578
Odessa-Midland-TX                          2         231,773       0.03      8.829       319        79.59       578
Oklahoma City-OK                           6         660,844       0.08      9.091       358        84.44       662
Omaha-NE-IA                                4         286,616       0.03      9.384       357        82.11       597
Orlando-FL                                65      12,693,795       1.52      8.213       354        79.32       615
Pensacola-FL                               5         699,837       0.08      8.374       356        82.34       608
Peoria-Pekin-IL                            1          32,341       0.00     11.875       354       100.00       627
Philadelphia-Wilmington-Atlantic
   City-PA-NJ-DE-MD                       76      12,306,212       1.47      8.779       355        79.53       604
Phoenix-Mesa-AZ                          145      27,461,015       3.29      8.505       353        79.17       614
Pittsburgh-PA                             19       2,532,495       0.30      8.477       357        84.06       632
Portland-ME                                3         801,177       0.10      7.828       357        93.16       652
Portland-Salem-OR-WA                      39       6,602,443       0.79      8.013       353        78.83       616
Providence-Fall River-Warwick-RI-MA       71      14,271,213       1.71      8.611       357        79.51       616
Provo-Orem-UT                              1         146,797       0.02     10.650       358       100.00       574
Pueblo-CO                                  2         276,891       0.03      9.469       358        86.15       626
Punta Gorda-FL                             7       1,861,841       0.22      8.967       351        84.93       632
Raleigh-Durham-Chapel Hill-NC              7         834,311       0.10      9.490       350        86.52       628
Reading-PA                                 5         507,408       0.06      8.872       358        89.44       651
Redding-CA                                 2         439,317       0.05      7.249       358        70.55       646
Reno-NV                                    2         480,361       0.06      7.959       355        80.00       603
Richland-Kennewick-Pasco-WA                2         202,350       0.02      6.974       357        80.00       638
Richmond-Petersburg-VA                    22       2,885,373       0.35      8.862       352        82.37       606
Roanoke-VA                                 3         255,926       0.03      8.388       357        80.95       636
Rochester-NY                               3          98,376       0.01     10.318       357        87.65       647
Rockford-IL                               12       1,461,972       0.18      8.765       355        84.73       622


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
MSA TERMSHEET TABLE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined   Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Metropolitan Statistical Area        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Sacramento-Yolo-CA                         58     15,862,493       1.90      8.155       347        82.51       641
Saginaw-Bay City-Midland-MI                 5        415,343       0.05      9.380       346        86.00       592
Salinas-CA                                  1        220,000       0.03      6.300       358        41.90       711
Salt Lake City-Ogden-UT                     9      1,707,276       0.20      8.338       356        83.39       631
San Angelo-TX                               2        172,853       0.02      8.875       307        78.57       538
San Antonio-TX                             11      1,023,641       0.12      8.407       357        78.67       613
San Diego-CA                               40     11,437,783       1.37      8.196       341        78.99       654
San Francisco-Oakland-San Jose-CA         105     40,135,940       4.81      7.967       351        78.26       649
San Luis Obispo-Atascadero-Paso
   Robles-CA                                2        294,880       0.04      9.175       358        47.56       565
Santa Barbara-Santa-Maria-Lompoc-CA         3      1,316,917       0.16      7.553       357        80.94       653
Santa Fe-NM                                 1         93,625       0.01     10.000       357        95.00       635
Sarasota-Bradenton-FL                      16      2,658,873       0.32      9.064       357        81.05       586
Savannah-GA                                 4        503,635       0.06      8.620       358        82.76       624
Scranton-Wilkes Barre-Hazleton-PA           6        622,325       0.07      8.899       357        87.02       634
Seattle-Tacoma-Bremerton-WA                60     11,859,886       1.42      8.231       349        79.78       607
Sharon-PA                                   4        454,442       0.05      8.972       358        81.33       606
Sherman-Denison-TX                          1         67,893       0.01      9.250       357        80.00       576
Shreveport-Bossier City-LA                  2        359,147       0.04      7.934       357        84.87       641
Sioux Falls-SD                              1         85,158       0.01      8.950       357        63.19       514
South Bend-IN                               6        451,733       0.05      9.861       338        88.98       571
Spokane-WA                                  6        698,186       0.08      8.581       357        80.59       582
Springfield-IL                              1        147,972       0.02      8.750       357        91.50       620
Springfield-MA                             16      2,611,376       0.31      8.658       354        85.95       619
Springfield-MO                              2        351,839       0.04      7.878       357        81.33       633
Stockton-Lodi-CA                           29      7,317,169       0.88      8.562       344        81.65       641
St. Louis-MO-IL                            36      3,617,876       0.43      9.231       355        84.21       595
Syracuse-NY                                 4        492,281       0.06      8.588       343        79.82       668
Tallahassee-FL                              2        220,005       0.03      9.370       356        87.22       544
Tampa-St. Petersburg-Clearwater-FL         90     14,334,896       1.72      8.626       354        79.92       623
Terre Haute-IN                              1         77,929       0.01      9.870       358        82.11       614
Toledo-OH                                   1         69,820       0.01      8.250       356        80.00       634
Topeka-KS                                   3        222,590       0.03      8.462       357        75.41       601
Tucson-AZ                                  14      2,201,683       0.26      8.479       357        75.93       587
Tulsa-OK                                    5        482,847       0.06      8.818       341        79.04       597
Tyler-TX                                    2        368,705       0.04      9.219       358        86.71       644
Utica-Rome-NY                               1         59,911       0.01      7.525       358        80.00       725
Victoria-TX                                 1        172,817       0.02      9.500       355        77.00       530
Visalia-Tulare-Porterville-CA              18      3,153,096       0.38      8.214       355        82.31       636
Waco-TX                                     3        229,438       0.03     10.278       358        80.36       556
Washington-Baltimore-DC-MD-VA-WV          141     33,521,095       4.01      8.353       355        77.22       615
Wausau-WI                                   1        131,841       0.02     10.490       357        75.00       503
West Palm Beach-Boca Raton-FL              37      7,302,130       0.87      8.538       350        78.20       610
Wichita Falls-TX                            2        228,973       0.03      7.596       358        80.00       659
Wichita-KS                                  2        294,343       0.04      9.697       291        75.07       553
Williamsport-PA                             3        215,346       0.03      9.385       358        86.85       561
Wilmington-NC                               3        364,067       0.04      7.954       357        77.56       609
York-PA                                     3        269,393       0.03      8.955       356        78.69       581
Youngstown-Warren-OH                        4        397,327       0.05      9.186       358        83.66       567
Yuba City-CA                                1        251,865       0.03      8.250       358        80.00       641
Yuma-AZ                                     3        358,889       0.04      7.636       307        75.97       637
---------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

CREDIT SCORE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

500--524                         279     46,441,483       5.56      9.545       356        71.85       512
525--549                         314     53,891,969       6.45      9.290       357        73.26       537
550--574                         349     62,693,438       7.51      8.943       357        77.64       562
575--599                         457     85,015,577      10.18      8.664       354        80.25       588
600--624                         736    149,312,831      17.88      8.344       351        81.30       613
625--649                         818    160,006,052      19.16      8.336       348        81.71       636
650--674                         549    117,558,718      14.08      8.166       348        81.69       661
675--699                         336     75,361,493       9.03      8.038       347        81.41       686
700--724                         169     38,491,751       4.61      7.991       347        82.65       710
725--749                         106     22,546,021       2.70      8.079       352        83.03       735
750--774                          60     14,673,824       1.76      7.960       351        81.70       760
775--799                          28      7,965,284       0.95      7.705       345        80.53       783
800 +                              6        975,860       0.12      7.833       323        86.00       807
------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                        Aggregate     Aggregate   Weighted    Weighted   Weighted
                              Number     Cut-off       Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined   Average
Range of Combined Original   Mortgage   Principal     Principal   Interest      Term     Original     FICO
      LTV Ratios (%)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

10.01--15.00                       1        149,735       0.02      6.625        358       14.63       668
15.01--20.00                       4        430,264       0.05      8.793        356       18.12       550
20.01--25.00                       7      1,072,051       0.13      7.404        327       23.60       599
25.01--30.00                       7        789,898       0.09      7.722        328       27.12       614
30.01--35.00                       8      1,258,495       0.15      7.747        358       32.73       636
35.01--40.00                      19      3,272,611       0.39      8.493        357       38.59       594
40.01--45.00                      39      6,037,573       0.72      8.033        354       42.50       587
45.01--50.00                      48      7,555,973       0.90      8.191        357       47.94       602
50.01--55.00                      53      9,792,664       1.17      8.349        350       52.87       581
55.01--60.00                      72     11,824,393       1.42      7.977        350       57.94       593
60.01--65.00                     122     23,050,855       2.76      8.603        355       63.37       574
65.01--70.00                     192     37,536,122       4.50      8.710        356       68.87       581
70.01--75.00                     288     60,082,262       7.20      8.471        354       73.95       580
75.01--80.00                   1,759    408,554,737      48.93      8.082        357       79.84       643
80.01--85.00                     437     87,800,198      10.52      8.668        356       84.51       606
85.01--90.00                     449     98,133,687      11.75      8.684        356       89.55       627
90.01--95.00                     194     39,254,353       4.70      8.969        355       94.65       643
95.01--100.00                    508     38,338,430       4.59     10.898        248       99.87       652
------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458        351       80.13       626
------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                   Mortgage
                                                   Pool by
                                    Aggregate     Aggregate   Weighted    Weighted   Weighted
                          Number     Cut-off       Cut-off     Average    Average     Average   Weighted
                            of         Date          Date       Gross    Remaining   Combined    Average
Range of Cut-off Date    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Principal Balances ($)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------------

1--25,000                     31        673,662       0.08     11.023       269        99.81       650
25,001--50,000               217      8,609,762       1.03     11.184       254        93.39       633
50,001--75,000               368     23,374,011       2.80     10.133       297        85.80       619
75,001--100,000              411     36,041,776       4.32      9.306       326        82.48       613
100,001--125,000             446     50,423,050       6.04      9.043       339        79.89       607
125,001--150,000             401     55,346,959       6.63      8.770       351        78.26       608
150,001--175,000             353     57,212,084       6.85      8.643       353        77.83       611
175,001--200,000             344     64,684,246       7.75      8.466       356        78.47       617
200,001--225,000             279     59,356,344       7.11      8.352       357        79.43       626
225,001--250,000             241     57,191,618       6.85      8.343       357        78.87       620
250,001--275,000             183     47,999,943       5.75      8.193       357        79.91       619
275,001--300,000             163     46,951,780       5.62      8.179       356        79.05       623
300,001--325,000             131     40,901,155       4.90      8.122       357        79.24       626
325,001--350,000             109     36,783,058       4.41      8.248       357        80.75       631
350,001--375,000              78     28,168,660       3.37      8.110       357        79.36       649
375,001--400,000              86     33,483,287       4.01      8.081       357        80.31       644
400,001--425,000              68     28,047,213       3.36      8.098       356        81.41       636
425,001--450,000              54     23,720,988       2.84      7.982       357        80.96       629
450,001--475,000              39     18,005,723       2.16      8.065       357        80.86       652
475,001--500,000              58     28,411,352       3.40      8.033       356        80.58       644
500,001--750,000             137     80,985,039       9.70      8.117       357        81.54       646
750,001--1,000,000            10      8,562,593       1.03      8.240       356        82.32       670
--------------------------------------------------------------------------------------------------------
Total:                     4,207    834,934,301     100.00      8.458       351        80.13       626
--------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Properties                      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                 915    271,051,190      32.46      8.166       347        80.11       641
Florida                                    666    119,157,019      14.27      8.545       350        79.54       622
Illinois                                   323     57,253,943       6.86      8.729       351        81.62       622
New York                                   139     41,732,227       5.00      8.075       356        76.69       650
Arizona                                    175     31,983,040       3.83      8.512       353        78.87       612
Texas                                      267     26,645,529       3.19      8.714       343        81.65       615
Maryland                                   115     25,717,947       3.08      8.335       356        78.32       613
New Jersey                                  78     20,673,940       2.48      8.901       357        77.01       607
Massachusetts                               90     20,615,447       2.47      8.671       355        81.80       617
Nevada                                      93     19,876,786       2.38      8.152       350        81.56       636
Virginia                                    99     17,526,643       2.10      8.716       353        78.29       608
Washington                                  87     16,283,977       1.95      8.239       351        80.51       606
Pennsylvania                               125     15,389,417       1.84      8.798       355        81.23       608
Rhode Island                                74     15,231,725       1.82      8.545       357        79.23       617
Connecticut                                 74     14,903,474       1.78      8.554       356        78.40       616
Other                                      887    120,891,996      14.48      8.852       354        82.05       613
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

DOCUMENTATION LEVEL



                                                                  % of
                                                                Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Documentation Level              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Stated Documentation                     2,137    456,501,438      54.68      8.630       350        80.07       641
Full Documentation                       1,897    342,451,104      41.02      8.246       353        80.02       607
Limited Documentation                      173     35,981,758       4.31      8.300       347        81.92       619
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Loan Purpose                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                       2,110    437,916,030      52.45      8.465       355        77.84       603
Purchase                                 1,871    357,138,841      42.77      8.464       346        82.85       656
Refinance--Rate Term                       226     39,879,430       4.78      8.331       352        80.94       614
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

OCCUPANCY



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Primary                                  3,860    772,614,335      92.54      8.414       350        79.97       624
Investment                                 294     49,653,254       5.95      9.026       356        81.90       652
Second Home                                 53     12,666,712       1.52      8.902       356        82.77       652
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


PRODUCT TYPES



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Product Types                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                               7        496,311       0.06      8.252       117        64.85       631
Fixed--15 Year                              23      1,940,686       0.23      8.448       177        69.52       634
Fixed--20 Year                              24      1,990,559       0.24      8.449       237        75.91       634
Fixed--25 Year                               3        245,515       0.03      8.559       298        84.90       622
Fixed--30 Year                             489     62,069,627       7.43      8.684       357        78.47       620
Interest Only Fixed--30 Year                15      4,811,985       0.58      7.474       357        77.31       655
Balloon--15/30                             354     23,914,670       2.86     11.437       176        99.11       657
Balloon--30/40                              67     14,725,319       1.76      7.933       357        78.80       627
ARM--1 Year/6 Month                          2        542,838       0.07      7.742       352        84.95       602
ARM--2 Year/6 Month                      1,203    227,698,738      27.27      8.687       357        79.02       614
ARM--3 Year/6 Month                        488     77,786,208       9.32      8.903       357        78.83       592
ARM--5 Year/6 Month                         12      1,990,884       0.24      8.472       357        76.09       631
Dual Amort--10/40--2 Year/6 Month            3        941,351       0.11      7.192       352        75.59       631
Interest Only Arm--2 Year/6 Month          424    132,706,238      15.89      7.778       356        80.76       658
Interest Only Arm--3 Year/6 Month           85     23,093,944       2.77      7.774       357        80.55       665
Interest Only Arm--5 Year/6 Month            7      1,895,839       0.23      7.240       358        77.91       676
ARM--2 Year/6 Month Balloon--30/40         789    213,147,286      25.53      8.242       357        80.12       626
ARM--2 Year/6 Month Balloon--30/50           1        203,935       0.02      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon--30/40         211     44,732,369       5.36      8.383       357        80.00       616
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Property Type                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Single Family Residence                  3,421    651,774,116      78.06      8.460       351        80.29       622
2-4 Family                                 300     78,056,397       9.35      8.502       352        78.31       645
Planned Unit Development                   216     53,080,620       6.36      8.308       352        80.00       628
Condo                                      270     52,023,168       6.23      8.519       350        80.96       641
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


OCCUPANCY--NON OWNER OCCUPIED



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Occupancy--Non Owner Occupied        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Investment                                294      49,653,254      79.67      9.026       356        81.90       652
Second Home                                53      12,666,712      20.33      8.902       356        82.77       652
----------------------------------------------------------------------------------------------------------------------
Total:                                    347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE 2-4 FAMILY



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type 2-4 Family           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

2-4 Family                                300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------------
Total:                                    300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

BACK RATIO



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
             Back                Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Ratio                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

<= 0.00                               16      3,583,945       0.43      8.469       351        75.90       688
0.01--5.00                             5        932,510       0.11      8.166       330        82.84       624
5.01--10.00                           11      1,640,156       0.20      8.365       357        74.42       593
10.01--15.00                          24      4,053,408       0.49      8.159       357        78.68       633
15.01--20.00                          50      6,891,373       0.83      8.503       354        73.59       597
20.01--25.00                         111     16,047,340       1.92      8.724       353        80.30       602
25.01--30.00                         192     31,652,726       3.79      8.507       353        79.32       625
30.01--35.00                         319     55,348,836       6.63      8.476       353        77.42       615
35.01--40.00                         574    104,558,477      12.52      8.412       351        79.73       623
40.01--45.00                       1,119    232,650,008      27.86      8.425       351        80.20       634
45.01--50.00                       1,392    295,759,293      35.42      8.489       350        81.23       629
50.01--55.00                         368     74,787,971       8.96      8.473       353        79.41       609
55.01--60.00                          26      7,028,257       0.84      8.008       353        80.21       625
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


Minimum: 1.78
Maximum: 59.92
Weighted Average: 42.79

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

 0                                 1,199    216,979,403      25.99      8.805       351        80.89       624
 6                                    15      3,489,711       0.42      8.529       357        77.65       639
12                                   237     68,168,035       8.16      8.285       354        78.59       646
24                                 1,682    372,728,763      44.64      8.235       353        80.10       628
30                                     7      1,406,947       0.17      9.452       357        82.36       609
36                                 1,007    164,152,599      19.66      8.550       344        80.08       619
48                                     1        145,964       0.02      8.500       359        36.50       529
60                                    59      7,862,880       0.94      8.849       353        76.52       580
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK                                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
             Lien                Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Position                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

1st Lien                           3,747    805,760,512      96.51      8.349       356        79.43       625
2nd Lien                             460     29,173,789       3.49     11.483       208        99.52       657
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

  0                                3,676    672,426,295      80.54      8.626       349        80.02       618
 24                                    2        431,400       0.05      7.225       358        79.45       606
 36                                    3        639,500       0.08      7.938       358        77.28       631
 60                                  521    160,349,981      19.21      7.764       357        80.61       659
120                                    5      1,087,125       0.13      7.638       357        81.43       643
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



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IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK IO                                                     531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

CREDIT SCORE



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

500--524                  1         216,000       0.13      7.500       359        90.00       519
550--574                  1         249,325       0.15      9.750       351        51.55       553
575--599                 14       4,104,955       2.53      7.251       356        78.26       586
600--624                120      36,833,314      22.67      7.863       356        81.93       613
625--649                117      34,552,231      21.26      7.784       357        79.39       637
650--674                112      35,014,895      21.55      7.769       357        80.25       661
675--699                 78      24,286,113      14.94      7.775       357        80.75       685
700--724                 40      11,756,963       7.23      7.630       357        80.60       711
725--749                 24       6,839,742       4.21      7.500       357        82.33       735
750--774                 15       5,052,000       3.11      7.912       357        81.61       763
775--799                  7       2,978,520       1.83      7.641       356        80.37       782
800 +                     2         623,948       0.38      7.135       353        80.00       806
----------------------------------------------------------------------------------------------------
Total:                  531     162,508,006     100.00      7.762       357        80.60       659
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

 24                       2         431,400       0.27      7.225       358        79.45       606
 36                       3         639,500       0.39      7.938       358        77.28       631
 60                     521     160,349,981      98.67      7.764       357        80.61       659
120                       5       1,087,125       0.67      7.638       357        81.43       643
----------------------------------------------------------------------------------------------------
Total:                  531     162,508,006     100.00      7.762       357        80.60       659
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1




IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK IO                                                     531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Range of Combined       of          Date         Date       Gross    Remaining   Combined    Average
  Original LTV       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Ratios (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

20.01--25.00              1         120,000       0.07      7.750       358        22.64       619
35.01--40.00              3         980,000       0.60      7.540       357        39.09       638
40.01--45.00              1         220,000       0.14      6.300       358        41.90       711
50.01--55.00              6       1,302,051       0.80      7.568       356        52.05       617
55.01--60.00              4         690,000       0.42      6.902       357        57.85       623
60.01--65.00              7       1,753,635       1.08      6.908       357        64.13       647
65.01--70.00              8       2,547,235       1.57      7.438       357        69.85       634
70.01--75.00             13       4,722,659       2.91      7.664       356        72.81       641
75.01--80.00            381     113,472,926      69.83      7.679       357        79.84       665
80.01--85.00             39      12,567,069       7.73      7.970       356        84.03       647
85.01--90.00             47      17,656,309      10.86      8.085       356        89.19       639
90.01--95.00             20       6,146,122       3.78      8.543       356        94.80       666
95.01--100.00             1         330,000       0.20      9.300       358       100.00       733
----------------------------------------------------------------------------------------------------
Total:                  531     162,508,006     100.00      7.762       357        80.60       659
----------------------------------------------------------------------------------------------------


Minimum: 22.64
Maximum: 100.00
Weighted Average: 80.60

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Range of Cut-off        of          Date         Date       Gross    Remaining   Combined    Average
Date Principal       Mortgage    Principal    Principal   Interest      Term     Original     FICO
Balances ($)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

50,001--75,000            1          72,800       0.04      9.590       357        80.00       630
75,001--100,000          10         878,879       0.54      7.859       357        79.31       627
100,001--125,000         16       1,804,208       1.11      8.123       357        74.02       660
125,001--150,000         20       2,755,396       1.70      7.876       356        78.86       658
150,001--175,000         25       4,068,308       2.50      7.825       357        80.95       672
175,001--200,000         57      10,629,953       6.54      7.965       357        79.42       663
200,001--225,000         51      10,935,227       6.73      7.805       357        80.18       650
225,001--250,000         49      11,602,322       7.14      7.736       357        78.71       648
250,001--275,000         40      10,544,077       6.49      7.794       357        80.79       663
275,001--300,000         35      10,052,404       6.19      7.531       357        79.71       645
300,001--325,000         22       6,868,380       4.23      7.480       357        80.27       667
325,001--350,000         26       8,802,686       5.42      7.845       356        82.86       657
350,001--375,000         30      10,848,988       6.68      7.877       357        80.64       663
375,001--400,000         27      10,507,241       6.47      7.696       357        80.68       673
400,001--425,000         21       8,648,929       5.32      7.662       356        80.53       660
425,001--450,000         16       7,033,524       4.33      7.660       356        82.03       640
450,001--475,000         11       5,076,400       3.12      7.613       357        81.96       670
475,001--500,000         24      11,743,210       7.23      7.769       356        79.42       659
500,001--750,000         46      26,225,078      16.14      7.744       356        82.22       659
750,001--1,000,000        4       3,409,996       2.10      8.239       354        80.16       688
----------------------------------------------------------------------------------------------------
Total:                  531     162,508,006     100.00      7.762       357        80.60       659
----------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK IO                                                     531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted   Weighted    Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original      FICO
            Properties                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                238      88,869,828      54.69      7.719       356        80.72       661
Florida                                    81      19,208,898      11.82      7.944       357        80.12       663
Arizona                                    34       7,671,777       4.72      7.985       356        79.87       644
New York                                   17       7,143,948       4.40      7.856       358        82.70       665
Maryland                                   23       6,929,870       4.26      7.617       357        79.65       655
Nevada                                     25       6,428,958       3.96      7.498       357        81.69       661
Illinois                                   18       4,271,021       2.63      7.901       358        79.92       669
Hawaii                                      6       3,164,746       1.95      7.767       356        81.65       666
Georgia                                    10       2,238,317       1.38      8.156       357        82.98       657
Rhode Island                                8       2,176,550       1.34      7.378       358        82.53       631
Virginia                                    7       1,835,150       1.13      7.728       358        80.54       654
New Jersey                                  6       1,792,809       1.10      7.639       357        70.87       637
Massachusetts                               5       1,612,750       0.99      8.305       357        84.30       630
Washington                                  8       1,525,967       0.94      7.254       357        80.72       652
Colorado                                    8       1,216,549       0.75      7.980       356        83.21       653
Other                                      37       6,420,867       3.95      7.758       357        78.50       653
----------------------------------------------------------------------------------------------------------------------
Total:                                    531     162,508,006     100.00      7.762       357        80.60       659
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 34

DOCUMENTATION LEVEL



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted   Weighted    Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average    Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original      FICO
 Documentation Level                    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------------

Stated Documentation                      296      92,734,579      57.06      8.025       357        80.07       668
Full Documentation                        208      60,521,993      37.24      7.396       357        81.32       646
Limited Documentation                      27       9,251,435       5.69      7.520       356        81.22       650
-----------------------------------------------------------------------------------------------------------------------
Total:                                    531     162,508,006     100.00      7.762       357        80.60       659
-----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK IO                                                     531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

BACK RATIO



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                    Aggregate   Aggregate   Weighted   Weighted    Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
   Back                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Ratio                                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

<= 0.00                                     2         596,720       0.37     7.965       357        80.00        657
15.01--20.00                                3         495,059       0.30     8.754       357        83.29        633
20.01--25.00                                8       2,282,572       1.40     7.407       357        81.94        636
25.01--30.00                               16       4,441,604       2.73     7.572       357        78.70        658
30.01--35.00                               29       8,904,137       5.48     7.828       356        80.17        640
35.01--40.00                               72      22,425,367      13.80     7.573       356        80.12        659
40.01--45.00                              168      50,835,574      31.28     7.726       357        80.83        664
45.01--50.00                              199      62,519,643      38.47     7.878       357        80.66        660
50.01--55.00                               32       9,367,330       5.76     7.623       357        81.01        656
55.01--60.00                                2         640,000       0.39     8.693       356        80.00        617
----------------------------------------------------------------------------------------------------------------------
Total:                                    531     162,508,006     100.00     7.762       357        80.60        659
----------------------------------------------------------------------------------------------------------------------


Minimum: 17.22
Maximum: 57.71
Weighted Average: 43.27

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

   IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK LOW DOC                                              2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                     Aggregate     Aggregate   Weighted    Weighted   Weighted
                           Number     Cut-off       Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined   Average
                          Mortgage   Principal     Principal   Interest      Term     Original     FICO
Credit Score                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

500--524                       75     14,736,960       2.99      9.712       356        70.34       512
525--549                      118     25,445,398       5.17      9.390       357        71.39       538
550--574                      135     27,358,694       5.56      9.031       357        75.60       563
575--599                      190     38,701,868       7.86      9.009       355        79.80       588
600--624                      328     72,901,731      14.80      8.697       350        80.90       613
625--649                      534    105,031,014      21.33      8.663       347        81.94       637
650--674                      408     87,760,349      17.82      8.349       346        81.43       661
675--699                      245     55,644,769      11.30      8.239       347        81.39       686
700--724                      123     28,735,487       5.83      8.071       349        81.51       710
725--749                       80     17,042,133       3.46      8.237       352        82.79       735
750--774                       48     12,549,296       2.55      8.040       349        81.21       760
775--799                       21      5,718,396       1.16      7.963       350        81.61       783
800 +                           5        857,101       0.17      7.897       317        85.44       806
---------------------------------------------------------------------------------------------------------
Total:                      2,310    492,483,197     100.00      8.606       350        80.21       639
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 639

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined   Average
   Range of Combined      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Original LTV Ratios (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

10.01--15.00                    1        149,735       0.03      6.625       358        14.63       668
15.01--20.00                    2        359,256       0.07      8.722       356        18.18       555
20.01--25.00                    4        760,612       0.15      7.516       335        23.83       596
25.01--30.00                    4        443,661       0.09      7.677       306        27.80       609
30.01--35.00                    6      1,062,011       0.22      7.376       358        32.65       651
35.01--40.00                    9      2,086,175       0.42      8.241       357        38.61       613
40.01--45.00                   11      2,087,379       0.42      8.023       358        42.26       608
45.01--50.00                   20      3,513,525       0.71      8.445       357        47.68       603
50.01--55.00                   24      4,604,608       0.93      8.686       356        52.58       574
55.01--60.00                   33      5,648,094       1.15      8.038       354        58.21       596
60.01--65.00                   62     12,542,615       2.55      8.724       356        63.52       580
65.01--70.00                   92     21,075,742       4.28      8.856       357        68.86       589
70.01--75.00                  128     28,623,533       5.81      8.706       355        73.92       581
75.01--80.00                1,059    270,850,947      55.00      8.177       357        79.86       656
80.01--85.00                  204     45,968,712       9.33      8.765       356        84.58       620
85.01--90.00                  217     52,127,705      10.58      9.068       356        89.55       633
90.01--95.00                   69     15,930,657       3.23      9.503       352        94.62       655
95.01--100.00                 365     24,648,230       5.00     11.409       223        99.98       662
---------------------------------------------------------------------------------------------------------
Total:                      2,310    492,483,197     100.00      8.606       350        80.21       639
---------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.21

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK LOW DOC                                              2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Principal Balances ($)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------

1--25,000                     21        440,513       0.09     11.044       271        99.99       667
25,001--50,000               138      5,391,401       1.09     11.731       228        97.63       646
50,001--75,000               187     11,739,868       2.38     10.809       261        91.13       641
75,001--100,000              192     16,851,709       3.42      9.767       310        84.97       636
100,001--125,000             191     21,472,705       4.36      9.346       328        81.12       631
125,001--150,000             194     26,782,862       5.44      8.904       350        77.35       628
150,001--175,000             163     26,294,793       5.34      8.674       354        77.18       628
175,001--200,000             187     35,279,013       7.16      8.655       356        78.48       631
200,001--225,000             163     34,599,624       7.03      8.528       357        79.03       639
225,001--250,000             147     34,915,692       7.09      8.561       356        79.63       628
250,001--275,000              95     24,887,440       5.05      8.346       357        79.58       634
275,001--300,000              98     28,219,005       5.73      8.464       357        79.14       631
300,001--325,000              92     28,724,284       5.83      8.359       357        78.21       633
325,001--350,000              76     25,645,644       5.21      8.299       357        80.24       642
350,001--375,000              51     18,458,481       3.75      8.188       357        78.97       653
375,001--400,000              63     24,559,311       4.99      8.162       357        79.86       653
400,001--425,000              49     20,271,859       4.12      8.356       356        81.50       640
425,001--450,000              38     16,697,037       3.39      8.064       357        81.14       642
450,001--475,000              26     12,033,869       2.44      8.114       357        79.70       660
475,001--500,000              41     20,127,530       4.09      8.163       356        79.74       650
500,001--750,000              92     54,209,501      11.01      8.355       357        81.10       648
750,001--1,000,000             6      4,881,055       0.99      8.630       355        81.55       682
--------------------------------------------------------------------------------------------------------
Total:                     2,310    492,483,197     100.00      8.606       350        80.21       639
--------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 213,196

DOCUMENTATION LEVEL



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of         Date          Date       Gross    Remaining   Combined    Average
                         Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------

Stated Documentation       2,137    456,501,438      92.69      8.630       350        80.07       641
Limited Documentation        173     35,981,758       7.31      8.300       347        81.92       619
--------------------------------------------------------------------------------------------------------
Total:                     2,310    492,483,197     100.00      8.606       350        80.21       639
--------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK LOW DOC                                              2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

BACK RATIO



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of         Date         Date       Gross     Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Back Ratio      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

<= 0.00             16      3,583,945       0.73      8.469       351        75.90       688
0.01--5.00           3        269,880       0.05      8.642       358        79.99       611
5.01--10.00          6        981,578       0.20      8.172       357        71.63       590
10.01--15.00         9      1,069,803       0.22      8.178       357        74.81       637
15.01--20.00        20      2,970,168       0.60      8.849       357        78.99       621
20.01--25.00        41      6,172,660       1.25      8.962       352        82.24       621
25.01--30.00        73     12,635,008       2.57      8.795       354        80.94       631
30.01--35.00       155     29,639,896       6.02      8.657       352        78.15       623
35.01--40.00       289     55,655,380      11.30      8.548       349        79.34       639
40.01--45.00       719    159,377,813      32.36      8.529       350        80.16       645
45.01--50.00       836    188,373,746      38.25      8.646       348        81.08       639
50.01--55.00       135     29,175,910       5.92      8.683       351        79.03       633
55.01--60.00         8      2,577,410       0.52      8.726       349        79.33       628
----------------------------------------------------------------------------------------------
Total:           2,310    492,483,197     100.00      8.606       350        80.21       639
----------------------------------------------------------------------------------------------


Minimum: 1.97
Maximum: 59.92
Weighted Average: 43.20

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

   IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK TOP 5 STATES                                         2,218 records
                                                           Balance: $521,177,419
--------------------------------------------------------------------------------

CREDIT SCORE



                                           % of
                                        Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

500--524           116     24,099,875       4.62      9.349       356        69.94       512
525--549           132     26,236,833       5.03      8.991       357        71.09       537
550--574           156     33,398,643       6.41      8.745       356        76.07       562
575--599           198     45,712,976       8.77      8.464       355        79.47       588
600--624           384     93,925,085      18.02      8.332       349        80.92       613
625--649           439     99,011,595      19.00      8.318       347        81.58       636
650--674           339     80,453,084      15.44      8.094       347        81.01       661
675--699           218     55,793,715      10.71      7.984       345        81.16       686
700--724           112     28,939,101       5.55      8.047       347        83.22       711
725--749            61     14,890,407       2.86      7.973       351        81.79       735
750--774            38     11,272,953       2.16      7.880       350        80.70       759
775--799            22      6,910,892       1.33      7.682       344        80.63       783
800 +                3        532,261       0.10      7.565       293        86.32       808
----------------------------------------------------------------------------------------------
Total:           2,218    521,177,419     100.00      8.328       349        79.79       633
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 633

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                           % of
                                        Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
  Range of      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
  Combined        of          Date         Date       Gross    Remaining   Combined    Average
Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Ratios (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

15.01--20.00         3        403,988       0.08      8.598       356        18.20       552
20.01--25.00         6        897,181       0.17      7.385       321        23.56       590
25.01--30.00         6        714,982       0.14      7.598       325        27.30       621
30.01--35.00         5        907,266       0.17      7.442       358        32.93       641
35.01--40.00        12      1,932,536       0.37      8.836       357        38.12       588
40.01--45.00        28      4,652,785       0.89      7.816       353        42.29       595
45.01--50.00        32      5,524,038       1.06      8.007       357        48.10       610
50.01--55.00        37      7,432,727       1.43      8.213       348        52.90       586
55.01--60.00        43      7,953,487       1.53      7.875       357        58.05       598
60.01--65.00        64     12,835,739       2.46      8.357       357        63.26       570
65.01--70.00       102     22,830,412       4.38      8.520       356        69.04       588
70.01--75.00       145     36,606,276       7.02      8.342       355        73.98       583
75.01--80.00       939    264,836,969      50.82      7.981       357        79.84       652
80.01--85.00       184     49,112,235       9.42      8.462       357        84.50       611
85.01--90.00       216     58,916,413      11.30      8.456       356        89.55       631
90.01--95.00        81     21,179,346       4.06      8.957       355        94.75       650
95.01--100.00      315     24,441,040       4.69     11.160       212        99.96       659
----------------------------------------------------------------------------------------------
Total:           2,218    521,177,419     100.00      8.328       349        79.79       633
----------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 79.79

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK TOP 5 STATES                                         2,218 records
                                                           Balance: $521,177,419
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of          Date         Date       Gross    Remaining   Combined    Average
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO
Principal Balances ($)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------

1--25,000                      6        135,314       0.03     12.224       227        99.09       640
25,001--50,000                92      3,707,855       0.71     11.515       212        96.71       644
50,001--75,000               135      8,484,515       1.63     10.906       227        93.01       642
75,001--100,000              127     11,163,374       2.14      9.901       280        84.48       637
100,001--125,000             172     19,587,843       3.76      9.159       319        77.97       612
125,001--150,000             194     26,849,559       5.15      8.773       346        76.39       611
150,001--175,000             190     30,806,515       5.91      8.564       350        77.04       615
175,001--200,000             183     34,406,806       6.60      8.425       357        76.99       618
200,001--225,000             162     34,474,248       6.61      8.235       356        79.32       637
225,001--250,000             145     34,396,130       6.60      8.290       356        78.21       624
250,001--275,000             107     28,108,559       5.39      8.105       357        78.66       619
275,001--300,000             109     31,436,868       6.03      8.057       355        78.63       627
300,001--325,000              90     28,181,621       5.41      8.027       357        78.24       626
325,001--350,000              75     25,348,510       4.86      8.188       357        80.62       632
350,001--375,000              51     18,402,333       3.53      8.027       357        79.35       656
375,001--400,000              75     29,178,285       5.60      8.063       357        79.90       650
400,001--425,000              55     22,700,056       4.36      7.958       356        81.13       641
425,001--450,000              44     19,350,095       3.71      7.890       357        81.23       633
450,001--475,000              36     16,614,824       3.19      8.064       357        80.75       652
475,001--500,000              51     24,958,410       4.79      7.984       356        80.55       647
500,001--750,000             111     66,086,718      12.68      8.096       356        81.72       648
750,001--1,000,000             8      6,798,980       1.30      8.244       356        83.48       674
--------------------------------------------------------------------------------------------------------
Total:                     2,218    521,177,419     100.00      8.328       349        79.79       633
--------------------------------------------------------------------------------------------------------


Minimum: 15,194
Maximum: 1,000,000
Average: 234,976

DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original      FICO
  Documentation Level     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation      1,345    321,982,735      61.78      8.517       349        80.03       644
Full Documentation          775    175,090,010      33.60      8.003       351        79.12       615
Limited Documentation        98     24,104,674       4.63      8.183       347        81.44       624
-------------------------------------------------------------------------------------------------------
Total:                    2,218    521,177,419     100.00      8.328       349        79.79       633
-------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
NORTHERN ROCK TOP 5 STATES                                         2,218 records
                                                           Balance: $521,177,419
--------------------------------------------------------------------------------

BACK RATIO



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of         Date          Date       Gross    Remaining   Combined    Average
    Back       Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Ratio         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

<= 0.00              8      1,843,482       0.35      7.746       345        71.35       683
0.01--5.00           4        820,632       0.16      8.052       326        83.23       638
5.01--10.00          2        548,525       0.11      7.832       357        72.18       611
10.01--15.00        10      1,919,743       0.37      8.000       357        79.71       626
15.01--20.00        15      3,565,970       0.68      8.384       355        71.65       605
20.01--25.00        35      7,215,273       1.38      8.594       355        78.50       609
25.01--30.00        74     17,165,992       3.29      8.453       352        80.26       635
30.01--35.00       136     29,307,007       5.62      8.360       352        76.09       627
35.01--40.00       285     63,218,432      12.13      8.193       350        79.40       633
40.01--45.00       644    150,921,470      28.96      8.308       349        79.75       638
45.01--50.00       799    194,992,268      37.41      8.398       348        80.90       636
50.01--55.00       190     44,360,381       8.51      8.265       353        79.05       616
55.01--60.00        16      5,298,245       1.02      7.955       351        80.61       631
----------------------------------------------------------------------------------------------
Total:           2,218    521,177,419     100.00      8.328       349        79.79       633
==============================================================================================


Minimum: 1.78
Maximum: 59.92
Weighted Average: 43.24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



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--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

      IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-
                                BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

ORIGINATOR



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Originator                      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Accredited                       519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Product with IO term        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                     2         132,232       0.13      9.241       118        80.00       619     41.32
Fixed--15 Year                     3         146,666       0.14      9.161       177        73.54       621     28.62
Fixed--20 Year                     4         286,068       0.28      9.879       239        75.08       533     28.21
Fixed--25 Year                     2         173,488       0.17      9.123       298        80.71       596     40.61
Fixed--30 Year                    75      10,948,413      10.78      8.395       358        70.73       620     40.26
Balloon--30/40                    22       4,647,892       4.58      7.991       358        73.48       624     43.73
ARM--2 Year/6 Month
   Balloon 30/40                 108      25,410,534      25.03      8.461       357        78.36       626     42.84
ARM--3 Year/6 Month
   Balloon 30/40                  58      12,535,276      12.35      8.747       358        78.82       607     41.18
ARM--2 Year/6 Month              126      23,565,630      23.21      8.756       357        77.84       612     42.14
ARM--3 Year/6 Month               66      10,200,576      10.05      9.014       358        77.71       580     39.36
ARM--5 Year/6 Month                4         399,366       0.39      9.072       359        81.51       697     40.04
Interest Only Fixed--30
   Year--60 mo. IO term            3         883,600       0.87      8.162       358        79.96       677     42.84
Interest Only ARM--2 Year/6
   Month--60 mo. IO term          24       7,121,555       7.01      7.584       358        78.71       668     43.70
Interest Only ARM--3 Year/6
   Month--60 mo. IO term          17       4,191,051       4.13      7.601       358        81.06       677     43.19
Interest Only ARM--5 Year/6
   Month--60 mo. IO term           3         607,900       0.60      6.666       358        66.57       661     44.52
Interest Only ARM--2 Year/6
   Month--120 mo. IO term          1         186,686       0.18      8.000       358        80.00       641     46.89
Interest Only ARM--3 Year/6
   Month--120 mo. IO term          1          92,000       0.09      7.250       359        80.00       652     44.60
---------------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
  Range of Gross Interest     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Rates (%)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                       1         306,900       0.30      5.700       358        52.93       643     46.87
6.000--6.999                      26       8,278,770       8.15      6.793       358        73.80       698     44.29
7.000--7.999                     133      31,079,070      30.61      7.733       357        77.12       661     42.36
8.000--8.999                     189      37,689,626      37.12      8.633       356        77.22       612     41.60
9.000--9.999                     126      19,228,669      18.94      9.633       356        79.13       559     40.96
10.000--10.999                    37       4,514,387       4.45     10.595       353        78.70       547     40.92
11.000--11.999                     4         275,564       0.27     11.505       347        78.89       557     34.45
12.000--12.999                     3         155,947       0.15     12.532       359        80.00       558     43.85
---------------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.999
Weighted Average: 8.489

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
   Range of Cut-off Date      Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Principal Balances ($)       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

25,001--50,000                    19         839,740       0.83      9.564       314        73.69       590     34.32
50,001--75,000                    34       2,085,747       2.05      9.614       345        73.72       567     36.11
75,001--100,000                   43       3,709,639       3.65      9.185       352        77.10       583     36.37
100,001--125,000                  66       7,489,403       7.38      9.026       355        78.02       584     40.13
125,001--150,000                  69       9,500,774       9.36      8.626       357        77.11       615     42.24
150,001--175,000                  51       8,261,776       8.14      8.686       358        75.80       611     41.73
175,001--200,000                  46       8,679,662       8.55      8.517       357        78.43       609     42.71
200,001--225,000                  38       8,004,795       7.88      8.607       357        76.85       633     41.45
225,001--250,000                  30       7,153,519       7.05      8.769       358        74.58       596     42.62
250,001--275,000                  14       3,683,208       3.63      8.340       357        75.18       617     45.00
275,001--300,000                  14       3,995,230       3.94      8.775       357        75.30       615     41.88
300,001--325,000                  19       5,900,763       5.81      8.212       357        78.84       618     42.97
325,001--350,000                  16       5,387,159       5.31      8.151       358        81.43       628     42.81
350,001--375,000                  12       4,372,802       4.31      8.182       357        78.47       638     43.37
375,001--400,000                  12       4,660,459       4.59      7.872       358        76.54       675     44.48
400,001--425,000                   9       3,708,350       3.65      7.897       357        79.05       639     44.21
425,001--450,000                   5       2,210,298       2.18      8.245       358        81.44       649     38.49
450,001--475,000                   2         938,145       0.92      8.749       354        70.83       576     34.06
475,001--500,000                   3       1,473,518       1.45      8.893       357        79.92       607     47.37
500,001--750,000                  17       9,473,947       9.33      7.750       357        77.30       672     41.82
---------------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------


Minimum: 31,933
Maximum: 650,759
Average: 195,624

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                            % of
                                          Mortgage
                            Aggregate      Pool by    Weighted  Weighted   Weighted
                  Number     Cut-off      Aggregate    Average   Average    Average  Weighted
                    of        Date      Cut-off Date    Gross   Remaining  Combined   Average   Back
Stated Original  Mortgage   Principal     Principal   Interest    Term     Original    FICO     DTI
 Term (months)    Loans    Balance ($)     Balance    Rate (%)  (months)      LTV      Score   Ratio
----------------------------------------------------------------------------------------------------

120                   2        132,232       0.13       9.241      118       80.00      619    41.32
180                   3        146,666       0.14       9.161      177       73.54      621    28.62
240                   4        286,068       0.28       9.879      239       75.08      533    28.21
300                   2        173,488       0.17       9.123      298       80.71      596    40.61
360                 508    100,790,479      99.27       8.482      357       77.27      621    41.96
----------------------------------------------------------------------------------------------------
Total:              519    101,528,933     100.00       8.489      356       77.27      621    41.90
----------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 359

RANGE OF STATED REMAINING TERMS (MONTHS)



                                            % of
                                          Mortgage
                            Aggregate      Pool by    Weighted   Weighted  Weighted
                  Number     Cut-off      Aggregate    Average   Average    Average  Weighted
Range of Stated     of        Date      Cut-off Date    Gross   Remaining  Combined   Average   Back
Remaining Terms  Mortgage   Principal     Principal   Interest    Term     Original    FICO     DTI
   (months)        Loans   Balance ($)     Balance    Rate (%)   (months)     LTV      Score   Ratio
----------------------------------------------------------------------------------------------------

109--120              2        132,232       0.13       9.241      118       80.00      619    41.32
169--180              3        146,666       0.14       9.161      177       73.54      621    28.62
229--240              4        286,068       0.28       9.879      239       75.08      533    28.21
289--300              2        173,488       0.17       9.123      298       80.71      596    40.61
349--360            508    100,790,479      99.27       8.482      357       77.27      621    41.96
----------------------------------------------------------------------------------------------------
Total:              519    101,528,933     100.00       8.489      356       77.27      621    41.90
----------------------------------------------------------------------------------------------------


Minimum: 118
Maximum: 359
Weighted Average: 356

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                               % of
                                             Mortgage
                                              Pool by    Weighted   Weighted  Weighted
                    Number    Aggregate      Aggregate    Average   Average   Average   Weighted
Range of Combined     of     Cut-off Date  Cut-off Date    Gross   Remaining  Combined   Average   Back
  Original LTV     Mortgage   Principal      Principal   Interest     Term    Original    FICO     DTI
   Ratios (%)        Loans    Balance ($)     Balance     Rate(%)   (months)    LTV       Score   Ratio
-------------------------------------------------------------------------------------------------------

25.01--30.00            1          99,847       0.10       7.375      358       27.78      659    43.85
30.01--35.00            4         696,665       0.69       7.056      358       32.36      652    47.24
35.01--40.00            3         637,417       0.63       8.145      358       37.30      575    39.81
40.01--45.00            5       1,048,845       1.03       7.850      358       41.84      594    39.63
45.01--50.00            9       1,462,358       1.44       8.566      358       48.07      593    41.02
50.01--55.00            7       1,339,216       1.32       7.774      358       53.57      590    41.18
55.01--60.00           11       1,621,421       1.60       7.939      353       57.97      602    39.24
60.01--65.00           17       2,832,827       2.79       8.670      353       62.75      564    38.62
65.01--70.00           26       5,190,623       5.11       8.746      357       68.85      603    41.76
70.01--75.00           39       6,858,764       6.76       9.053      357       74.30      556    41.64
75.01--80.00          272      57,651,548      56.78       8.244      356       79.86      649    42.58
80.01--85.00          125      22,089,403      21.76       9.037      356       84.55      586    40.97
-------------------------------------------------------------------------------------------------------
Total:                519     101,528,933     100.00       8.489      356       77.27      621    41.90
-------------------------------------------------------------------------------------------------------


Minimum: 27.78
Maximum: 85.00
Weighted Average: 77.27

RANGE OF GROSS MARGINS (%)



                                               % of
                                             Mortgage
                                             Pool by     Weighted    Weighted   Weighted
                   Number     Aggregate      Aggregate    Average    Average     Average  Weighted
                     of     Cut-off Date   Cut-off Date    Gross    Remaining   Combined   Average   Back
 Range of Gross   Mortgage    Principal     Principal    Interest      Term     Original    FICO      DTI
   Margins (%)      Loans     Balance ($)     Balance     Rate(%)    (months)      LTV      Score    Ratio
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans     111      17,218,359       16.96        8.319       352        72.21      623    41.04
<= 3.500              21       4,437,579        4.37        7.420       358        74.85      661    43.79
3.501--4.000          18       4,504,815        4.44        7.217       357        79.02      671    44.19
4.001--4.500          36       9,094,630        8.96        7.637       358        77.15      646    42.14
4.501--5.000          69      16,289,162       16.04        8.031       358        78.34      653    42.12
5.001--5.500          67      15,161,378       14.93        8.591       358        78.61      619    42.45
5.501--6.000          71      14,923,215       14.70        8.822       357        77.87      609    41.67
6.001--6.500          47       7,896,359        7.78        9.174       357        80.01      580    40.23
6.501--7.000          37       6,712,815        6.61        9.652       357        78.96      563    42.16
7.001--7.500          25       3,128,593        3.08        9.940       357        78.58      567    40.60
7.501--8.000          10       1,579,328        1.56       10.384       357        80.36      588    41.08
8.001--8.500           3         257,324        0.25        9.520       353        82.71      561    45.73
8.501--9.000           1          76,455        0.08       11.875       358        75.00      546    39.13
9.001--9.500           2         192,947        0.19       11.366       356        83.34      537    49.53
9.501--10.000          1          55,974        0.06       12.999       358        80.00      593    42.33
----------------------------------------------------------------------------------------------------------
Total:               519     101,528,933      100.00        8.489       356        77.27      621    41.90
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 5.384

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                               % of
                                             Mortgage
                                             Pool by      Weighted   Weighted   Weighted
                   Number     Aggregate      Aggregate    Average     Average    Average  Weighted
Range of Minimum     of      Cut-off Date  Cut-off Date     Gross   Remaining   Combined  Average    Back
 Mortgage Rates   Mortgage   Principal      Principal     Interest     Term     Original   FICO       DTI
      (%)           Loans    Balance ($)     Balance      Rate (%)   (months)     LTV      Score     Ratio
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans     111      17,218,359       16.96        8.319       352       72.21      623    41.04
5.501--6.000           1         306,900        0.30        5.700       358       52.93      643    46.87
6.001--6.500           1         220,000        0.22        6.300       358       41.90      711    40.27
6.501--7.000          16       4,546,916        4.48        6.875       357       79.98      674    45.47
7.001--7.500          25       6,592,152        6.49        7.355       357       78.44      674    42.68
7.501--8.000          92      21,413,366       21.09        7.855       357       78.12      659    42.46
8.001--8.500          51      10,903,637       10.74        8.334       357       78.05      622    42.20
8.501--9.000          95      20,649,545       20.34        8.842       357       77.74      611    41.52
9.001--9.500          46       7,255,314        7.15        9.368       357       79.92      567    42.49
9.501--10.000         48       8,291,163        8.17        9.875       358       79.46      550    40.05
10.001 -10.500        16       1,966,841        1.94       10.324       357       77.73      536    40.69
10.501--11.000        13       1,853,618        1.83       10.934       357       80.89      563    41.60
11.001--11.500         1         114,711        0.11       11.200       359       85.00      536    28.95
11.501--12.000         1          76,455        0.08       11.875       358       75.00      546    39.13
12.001--12.500         1          63,982        0.06       12.125       359       80.00      548    48.96
12.501--13.000         1          55,974        0.06       12.999       358       80.00      593    42.33
----------------------------------------------------------------------------------------------------------
Total:               519     101,528,933      100.00        8.489       356       77.27      621    41.90
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.524

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                               % of
                                             Mortgage
                                             Pool by      Weighted   Weighted   Weighted
                   Number     Aggregate      Aggregate    Average     Average    Average  Weighted
Range of Maximum     of      Cut-off Date  Cut-off Date    Gross     Remaining  Combined   Average   Back
Mortgage Rates    Mortgage     Principal    Principal     Interest     Term     Original    FICO      DTI
      (%)           Loans     Balance ($)    Balance      Rate (%)   (months)      LTV      Score    Ratio
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans     111      17,218,359       16.96        8.319      352        72.21      623     41.04
12.501--13.000         1         306,900        0.30        5.700      358        52.93      643     46.87
13.001--13.500         2         312,000        0.31        6.580      358        53.13      694     41.55
13.501--14.000        17       4,733,602        4.66        6.919      357        79.98      673     45.53
14.001--14.500        24       6,500,152        6.40        7.356      357        78.42      675     42.66
14.501--15.000        91      21,226,680       20.91        7.854      357        78.10      659     42.43
15.001--15.500        51      10,903,637       10.74        8.334      357        78.05      622     42.20
15.501--16.000        95      20,649,545       20.34        8.842      357        77.74      611     41.52
16.001--16.500        46       7,255,314        7.15        9.368      357        79.92      567     42.49
16.501--17.000        48       8,291,163        8.17        9.875      358        79.46      550     40.05
17.001--17.500        16       1,966,841        1.94       10.324      357        77.73      536     40.69
17.501--18.000        13       1,853,618        1.83       10.934      357        80.89      563     41.60
18.001--18.500         1         114,711        0.11       11.200      359        85.00      536     28.95
18.501--19.000         1          76,455        0.08       11.875      358        75.00      546     39.13
19.001--19.500         1          63,982        0.06       12.125      359        80.00      548     48.96
19.501--20.000         1          55,974        0.06       12.999      358        80.00      593     42.33
----------------------------------------------------------------------------------------------------------
Total:               519     101,528,933      100.00        8.489      356        77.27      621     41.90
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.700
Maximum: 19.999
Non-Zero Weighted Average: 15.520

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      17,218,359      16.96      8.319       352        72.21       623     41.04
1.500                            406      84,031,888      82.77      8.526       357        78.30       620     42.06
6.000                              2         278,686       0.27      7.752       358        80.00       645     46.13
---------------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 1.515

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      17,218,359      16.96      8.319       352        72.21       623     41.04
1.500                            405      83,955,463      82.69      8.524       357        78.30       620     42.07
2.000                              3         355,111       0.35      8.451       358        80.00       614     44.20
---------------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 2.000
Non-Zero Weighted Average: 1.502

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                111      17,218,359      16.96      8.319       352        72.21       623     41.04
November 2007                     2         178,511       0.18      8.508       350        81.90       596     41.57
December 2007                     7       1,149,715       1.13      8.164       351        79.79       649     44.19
January 2008                      3         459,077       0.45      8.812       352        71.59       598     35.62
February 2008                     8       1,780,619       1.75      8.232       353        80.00       666     42.20
March 2008                        4         528,158       0.52      7.832       354        77.70       663     42.78
April 2008                       18       3,886,860       3.83      8.649       355        77.23       615     42.61
May 2008                         14       2,670,541       2.63      9.072       356        79.37       600     39.24
June 2008                        52      13,107,815      12.91      8.449       357        79.73       630     44.06
July 2008                       122      26,623,901      26.22      8.447       358        77.41       622     42.61
August 2008                      29       5,899,210       5.81      8.411       359        77.99       635     41.86
January 2009                      2         358,456       0.35      8.226       352        82.66       614     28.98
April 2009                        5         582,090       0.57      9.332       355        83.15       553     45.07
May 2009                          7       1,396,032       1.38      8.772       356        81.76       651     41.98
June 2009                        33       6,343,292       6.25      8.683       357        78.97       604     40.75
July 2009                        77      15,136,950      14.91      8.626       358        78.72       609     41.06
August 2009                      18       3,202,082       3.15      8.693       359        75.91       599     39.83
June 2011                         2         256,402       0.25      8.394       357        81.49       675     42.71
July 2011                         1         306,900       0.30      5.700       358        52.93       643     46.87
August 2011                       4         443,963       0.44      8.500       359        80.83       699     39.91
--------------------------------------------------------------------------------------------------------------------
Total:                          519     101,528,933     100.00      8.489       356        77.27       621     41.90
--------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Mortgaged Properties       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

New York                         74      20,478,181      20.17      7.832       357        74.28       658     42.37
California                       50      14,732,862      14.51      8.147       357        77.16       638     41.26
Illinois                         58      11,992,441      11.81      8.670       358        78.58       632     43.43
Florida                          51       8,338,773       8.21      8.501       357        74.77       596     43.31
Arizona                          28       5,912,186       5.82      9.003       358        76.24       587     39.72
New Jersey                       13       3,726,674       3.67      8.621       357        75.05       627     46.50
Massachusetts                    12       2,956,519       2.91      8.593       357        80.72       602     42.54
Washington                       14       2,753,582       2.71      8.460       358        80.48       589     44.13
Texas                            27       2,544,833       2.51      9.123       340        79.05       575     38.19
Pennsylvania                     18       2,492,323       2.45      8.920       357        80.59       589     40.66
Georgia                          18       2,416,033       2.38      9.223       351        79.00       580     37.99
Connecticut                      11       2,386,974       2.35      8.874       358        76.96       615     44.57
Colorado                         10       1,852,406       1.82      8.219       358        81.27       639     42.57
Nevada                            7       1,673,328       1.65      8.461       356        79.99       641     44.93
Oregon                           10       1,668,106       1.64      9.069       357        81.13       582     36.74
Other                           118      15,603,712      15.37      8.917       355        79.11       601     40.33
--------------------------------------------------------------------------------------------------------------------
Total:                          519     101,528,933     100.00      8.489       356        77.27       621     41.90
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 42

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date       Gross    Remaining   Combined    Average    Back
              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Occupancy      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------

Primary          477      95,291,765      93.86      8.443       356        77.11       619     41.86
Investment        40       5,915,738       5.83      9.221       356        79.56       653     42.20
Second Home        2         321,430       0.32      8.524       357        82.08       618     49.72
-----------------------------------------------------------------------------------------------------
Total:           519     101,528,933     100.00      8.489       356        77.27       621     41.90
-----------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Property Type                Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Single Family Residence       385      70,144,018      69.09      8.553       356        77.75       613     41.38
2-4 Family                     59      15,861,259      15.62      8.125       357        75.43       667     43.42
Planned Unit Development       41      10,069,391       9.92      8.598       357        75.93       597     43.22
Condo                          34       5,454,265       5.37      8.523       358        79.03       633     41.73
------------------------------------------------------------------------------------------------------------------
Total:                        519     101,528,933     100.00      8.489       356        77.27       621     41.90
------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average    Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Loan Purpose             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------

Refinance--Cashout        331      60,041,475     59.14       8.697       356        75.62       592     41.07
Purchase                  178      40,429,115     39.82       8.168       357        79.69       663     43.19
Refinance--Rate Term       10       1,058,344      1.04       8.946       351        78.87       640     40.06
--------------------------------------------------------------------------------------------------------------
Total:                    519     101,528,933    100.00       8.489       356        77.27       621     41.90
--------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average    Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Documentation Level       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------

Stated Documentation       275      60,106,369     59.20       8.412       357        76.80       645     42.46
Full Documentation         220      36,169,929     35.63       8.587       356        77.99       587     41.51
Limited Documentation       24       5,252,635      5.17       8.690       357        77.73       577     38.24
---------------------------------------------------------------------------------------------------------------
Total:                     519     101,528,933    100.00       8.489       356        77.27       621     41.90
---------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average    Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------

500--524          81       13,249,400      13.05      9.547       356        76.68       510     39.81
525--549          62        9,138,159       9.00      9.233       355        75.28       537     39.37
550--574          40        7,464,895       7.35      8.958       357        74.29       564     40.35
575--599          49        7,201,210       7.09      8.900       352        76.08       586     42.92
600--624          62       12,198,168      12.01      8.499       358        77.91       613     42.42
625--649          66       14,195,122      13.98      8.262       356        77.76       639     42.66
650--674          63       14,199,285      13.99      8.105       357        78.34       662     42.43
675--699          40        9,644,596       9.50      7.748       357        79.44       686     44.13
700--724          31        7,455,425       7.34      7.846       357        77.51       711     43.16
725--749          16        3,691,859       3.64      7.687       355        77.84       736     43.35
750--774           7        2,239,801       2.21      7.473       357        77.20       758     42.49
775--799           2          851,014       0.84      6.659       358        80.00       783     33.77
------------------------------------------------------------------------------------------------------
Total:           519      101,528,933     100.00      8.489       356        77.27       621     41.90
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 785
Non-Zero Weighted Average: 621

PREPAYMENT PENALTY TERM



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of         Date          Date       Gross    Remaining   Combined    Average    Back
Prepayment     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------

0                 159      27,556,142      27.14      8.770       355        77.71       611     42.50
6                  14       3,081,907       3.04      8.336       357        76.80       652     42.73
12                 68      20,269,774      19.96      7.754       357        75.31       668     42.66
24                 56      12,224,471      12.04      8.500       357        77.33       616     42.49
30                  1         186,195       0.18      8.990       358        80.00       616     45.69
36                161      30,201,601      29.75      8.640       358        78.59       608     40.62
48                  1         145,964       0.14      8.500       359        36.50       529     43.94
60                 59       7,862,880       7.74      8.849       353        76.52       580     41.38
------------------------------------------------------------------------------------------------------
Total:            519     101,528,933     100.00      8.489       356        77.27       621     41.90
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 29

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

LIEN POSITION



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of         Date          Date       Gross    Remaining   Combined    Average    Back
    Lien       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Position      Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------

1st Lien          519     101,528,933     100.00      8.489       356        77.27       621     41.90
------------------------------------------------------------------------------------------------------
Total:            519     101,528,933     100.00      8.489       356        77.27       621     41.90
------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average    Back
Interest       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Only Term        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------

0                 470      88,446,141      87.11      8.622       356        77.01       613     41.66
60                 47      12,804,106      12.61      7.586       358        78.99       671     43.51
120                 2         278,686       0.27      7.752       358        80.00       645     46.13
------------------------------------------------------------------------------------------------------
Total:            519     101,528,933     100.00      8.489       356        77.27       621     41.90
------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                             % of
                                           Mortgage
                                           Pool by
                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                    of          Date         Date       Gross    Remaining   Combined    Average    Back
Top 5 Zip Code   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------

11722                 5       1,485,565       1.46      7.895       358        79.09       662     44.01
95076                 2       1,054,918       1.04      7.808       355        80.00       668     45.54
60639                 3         867,187       0.85      8.569       357        80.90       627     43.57
60625                 2         866,176       0.85      8.867       358        78.24       662     45.31
11368                 2         759,797       0.75      7.171       357        71.76       736     45.12
Other               505      96,495,290      95.04      8.512       356        77.22       618     41.76
--------------------------------------------------------------------------------------------------------
Total:              519     101,528,933     100.00      8.489       356        77.27       621     41.90
--------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ACCREDITED                                      519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

TOP 5 CITY CONCENTRATIONS



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Chicago                         21       4,783,791       4.71      8.493       358      79.32         660     43.22
Brooklyn                         8       2,908,183       2.86      7.974       357      71.58         654     40.72
Bronx                            6       2,712,523       2.67      7.568       358      80.62         705     41.23
Phoenix                         11       1,620,887       1.60      8.985       358      76.45         612     39.07
Central Islip                    5       1,485,565       1.46      7.895       358      79.09         662     44.01
Other                          468      88,017,984      86.69      8.535       356      77.23         614     41.91
-------------------------------------------------------------------------------------------------------------------
Total:                         519     101,528,933     100.00      8.489       356      77.27         621     41.90
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

ORIGINATOR



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Originator                     Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Encore                           319      81,834,599     100.00      8.270       355        78.88       628     42.77
---------------------------------------------------------------------------------------------------------------------
Total:                           319      81,834,599     100.00      8.270       355        78.88       628     42.77
---------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Product with IO term           Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                     1          85,939       0.11      7.500       176        20.09       625     34.91
Fixed--20 Year                     1          29,209       0.04     11.700       231       100.00       615     36.03
Fixed--30 Year                    45       8,253,470      10.09      8.416       356        78.46       623     41.66
Balloon--15/30                     1          74,768       0.09     11.350       171       100.00       635     46.38
Balloon--30/40                     5       1,595,470       1.95      7.871       356        78.68       601     33.46
ARM--2 Year/6 Month
   Balloon 30/40                  85      25,740,307      31.45      8.278       356        82.01       629     43.12
ARM--2 Year/6 Month
   Balloon 30/50                   1         203,935       0.25      8.450       357        80.00       625     51.37
ARM--1 Year/6 Month                2         542,838       0.66      7.742       352        84.95       602     47.25
ARM--2 Year/6 Month              133      29,280,195      35.78      8.571       356        76.45       614     42.84
ARM--3 Year/6 Month                3         465,951       0.57      7.996       357        75.48       560     41.24
ARM--5 Year/6 Month                3         876,575       1.07      8.903       355        77.97       582     42.88
Dual Amort--10/40--2
   Year/6 Month                    2         805,870       0.98      7.275       352        74.85       626     49.86
Interest Only Fixed--30
   Year--60 mo. IO term            1         191,200       0.23      8.300       356        80.00       656     45.26
Interest Only ARM--2 Year/6
   Month--60 mo. IO term          34      13,147,070      16.07      7.628       355        78.98       667     43.28
Interest Only ARM--3 Year/6
   Month--60 mo. IO term           2         541,800       0.66      6.777       357        74.08       618     38.40
---------------------------------------------------------------------------------------------------------------------
Total:                           319      81,834,599     100.00      8.270       355        78.88       628     42.77
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average    Back
Range of Gross Interest   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Rates (%)            Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

5.000--5.999                   1         298,794       0.37      5.990       356        54.55       684     48.00
6.000--6.999                  30       9,014,763      11.02      6.636       356        74.63       649     42.32
7.000--7.999                 102      29,688,138      36.28      7.649       355        79.44       642     43.24
8.000--8.999                 101      25,409,974      31.05      8.504       356        78.47       622     42.05
9.000--9.999                  55      11,569,352      14.14      9.486       356        82.71       612     43.61
10.000--10.999                24       4,797,605       5.86     10.498       356        80.45       577     41.91
11.000--11.999                 5       1,005,861       1.23     11.199       339        66.07       554     44.88
12.000--12.999                 1          50,111       0.06     12.530       357        85.00       542     37.26
-----------------------------------------------------------------------------------------------------------------
Total:                       319      81,834,599     100.00      8.270       355        78.88       628     42.77
-----------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 12.530
Weighted Average: 8.270

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of         Date          Date       Gross    Remaining   Combined    Average    Back
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)    Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------------

25,001--50,000                2          79,093       0.10      9.839       310        74.03       553     29.76
50,001--75,000               17       1,112,131       1.36      9.743       344        75.73       608     36.59
75,001--100,000              19       1,711,740       2.09      8.599       347        65.80       589     39.94
100,001--125,000             20       2,247,617       2.75      8.417       356        72.73       592     37.55
125,001--150,000             29       3,980,574       4.86      8.797       356        76.19       593     38.84
150,001--175,000             31       5,052,146       6.17      8.532       356        72.84       608     42.56
175,001--200,000             33       6,203,203       7.58      8.491       356        74.04       603     40.47
200,001--225,000             26       5,522,137       6.75      8.344       356        79.44       600     43.52
225,001--250,000             20       4,698,566       5.74      8.437       356        81.04       646     44.86
250,001--275,000             13       3,375,218       4.12      7.854       356        76.26       591     43.20
275,001--300,000             18       5,203,097       6.36      8.036       356        77.16       620     43.63
300,001--325,000             10       3,097,818       3.79      7.956       356        83.80       644     41.79
325,001--350,000              9       3,032,481       3.71      8.039       356        82.51       616     39.88
350,001--375,000              6       2,209,825       2.70      8.539       355        74.64       635     47.63
375,001--400,000              8       3,095,456       3.78      8.282       356        81.89       642     44.18
400,001--425,000              7       2,871,211       3.51      7.696       356        84.83       645     42.03
425,001--450,000              6       2,666,460       3.26      7.627       354        85.02       629     44.81
450,001--475,000              8       3,674,881       4.49      7.768       356        79.37       685     44.13
475,001--500,000             10       4,875,258       5.96      7.845       356        80.70       625     43.71
500,001--750,000             24      14,715,691      17.98      8.440       356        81.11       645     44.15
750,001--1,000,000            3       2,409,996       2.94      8.182       353        84.06       710     42.56
----------------------------------------------------------------------------------------------------------------
Total:                      319      81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Minimum: 29,209
Maximum: 855,000
Average: 256,535

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                    % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
  Stated Original Term    Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
        (months)            Loans        ($)       Balance       (%)      (Months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

180                            2        160,707       0.20      9.291       174        57.27       630     40.25
240                            1         29,209       0.04     11.700       231       100.00       615     36.03
360                          316     81,644,682      99.77      8.267       356        78.91       628     42.78
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                    % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
     Range of Stated      Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
Remaining Terms (months)    Loans        ($)       Balance       (%)      (Months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

169--180                       2        160,707       0.20      9.291       174        57.27       630     40.25
229--240                       1         29,209       0.04     11.700       231       100.00       615     36.03
349--360                     316     81,644,682      99.77      8.267       356        78.91       628     42.78
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Minimum: 171
Maximum: 357
Weighted Average: 355

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                    % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
    Range of Combined     Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
 Original LTV Ratios (%)    Loans        ($)       Balance       (%)      (Months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

15.01--20.00                   1        199,549       0.24      8.900       356        18.18       526     32.28
20.01--25.00                   3        311,439       0.38      7.129       306        23.05       609     37.00
35.01--40.00                   3        922,686       1.13      7.747       356        38.99       628     40.06
40.01--45.00                  10      1,658,482       2.03      8.780       356        42.80       558     37.96
45.01--50.00                   4        674,761       0.82      7.896       356        47.90       611     37.29
50.01--55.00                  11      2,104,931       2.57      8.219       356        53.27       597     46.14
55.01--60.00                  10      1,347,065       1.65      7.854       355        58.33       578     44.78
60.01--65.00                  13      2,691,290       3.29      8.348       356        63.48       596     39.05
65.01--70.00                  17      3,468,021       4.24      8.771       356        68.64       598     44.49
70.01--75.00                  33      7,125,467       8.71      8.036       356        74.22       588     42.49
75.01--80.00                  96     28,864,443      35.27      7.993       356        79.87       652     43.43
80.01--85.00                  48     13,635,290      16.66      8.404       356        84.53       627     42.42
85.01--90.00                  50     14,016,049      17.13      8.528       356        89.83       628     42.61
90.01--95.00                  15      4,152,175       5.07      8.714       356        94.66       635     44.26
95.01--100.00                  5        662,953       0.81     10.075       330        99.85       634     37.36
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 78.88

RANGE OF GROSS MARGINS (%)



                                                    % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
 Range of Gross Margins   Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
           (%)              Loans        ($)       Balance       (%)      (Months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans              54     10,230,057      12.50      8.352       353        78.25       620     40.41
4.501--5.000                   3        592,156       0.72     10.011       356        80.71       576     46.69
5.001--5.500                 170     51,072,547      62.41      8.091       356        80.76       639     42.92
5.501--6.000                  92     19,939,840      24.37      8.633       356        74.32       603     43.49
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.000
Maximum: 5.990
Non-Zero Weighted Average: 5.449

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                    % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
    Range of Minimum      Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
   Mortgage Rates (%)       Loans        ($)       Balance       (%)      (Months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans              54     10,230,057      12.50      8.352       353        78.25       620     40.41
5.501--6.000                   3      1,090,005       1.33      5.997       356        78.88       708     42.28
6.001--6.500                   7      2,242,097       2.74      6.297       356        73.19       621     37.81
6.501--7.000                  15      4,831,717       5.90      6.836       355        74.99       653     44.54
7.001--7.500                  26      8,478,902      10.36      7.302       355        76.22       638     44.64
7.501--8.000                  63     18,621,068      22.75      7.840       356        81.35       644     43.31
8.001--8.500                  40     10,896,376      13.32      8.264       356        80.24       626     43.55
8.501--9.000                  40     10,645,409      13.01      8.817       356        75.04       621     42.03
9.001--9.500                  22      4,896,836       5.98      9.261       356        81.72       618     44.84
9.501--10.000                 27      5,615,319       6.86      9.784       356        83.56       597     42.37
10.001 -10.500                 9      2,295,742       2.81     10.413       356        82.66       596     40.81
10.501--11.000                10      1,638,213       2.00     10.700       356        78.45       565     42.90
11.001--11.500                 1        157,876       0.19     11.100       357        40.08       556     32.39
11.501--12.000                 1        144,870       0.18     11.850       357        64.44       528     38.92
12.501--13.000                 1         50,111       0.06     12.530       357        85.00       542     37.26
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.990
Maximum: 12.530
Non-Zero Weighted Average: 8.258

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                    % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
    Range of Maximum      Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
   Mortgage Rates (%)       Loans        ($)       Balance       (%)      (Months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans              54     10,230,057      12.50      8.352       353        78.25       620     40.41
<= 12.500                     49     15,816,277      19.33      6.973       356        75.59       643     43.48
12.501--13.000                56     16,073,003      19.64      7.849       356        82.37       640     43.18
13.001--13.500                38     10,571,119      12.92      8.264       356        80.64       628     43.40
13.501--14.000                41     10,405,686      12.72      8.691       356        75.21       617     42.19
14.001--14.500                26      5,957,631       7.28      8.982       355        80.88       617     44.27
14.501--15.000                31      7,327,236       8.95      9.220       355        80.52       626     42.41
15.001--15.500                 8      2,166,907       2.65     10.425       356        84.44       601     42.21
15.501--16.000                11      2,487,368       3.04      9.993       354        78.48       601     42.63
16.001--16.500                 1        157,876       0.19     11.100       357        40.08       556     32.39
16.501--17.000                 2        431,574       0.53     10.339       353        74.78       513     48.23
17.501--18.000                 2        209,865       0.26     11.137       356        53.21       523     46.11
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 17.700
Non-Zero Weighted Average: 13.388

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
                          Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
Initial Periodic Cap (%)    Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans              54     10,230,057      12.50      8.352       353        78.25       620     40.41
2.000                        255     68,937,358      84.24      8.265       356        79.41       630     43.08
3.000                         10      2,667,185       3.26      8.092       352        67.48       600     44.06
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.000
Maximum: 3.000
Non-Zero Weighted Average: 2.037

SUBSEQUENT PERIODIC CAP (%)



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
 Subsequent Periodic Cap  Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
           (%)              Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans              54     10,230,057      12.50      8.352       353        78.25       620     40.41
1.000                        252     66,932,362      81.79      8.271       356        79.31       627     43.02
2.000                         13      4,672,181       5.71      8.070       352        74.08       649     44.38
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.065

NEXT RATE ADJUSTMENT DATES



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
  Next Rate Adjustment    Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
          Dates             Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans              54     10,230,057      12.50      8.352       353        78.25       620     40.41
January 2007                   2        542,838       0.66      7.742       352        84.95       602     47.25
November 2007                  2      1,223,928       1.50      7.231       350        80.00       723     45.36
December 2007                  3      1,558,593       1.90      8.779       351        79.07       634     43.35
January 2008                  12      2,949,477       3.60      7.785       352        75.57       608     42.84
March 2008                     1        101,124       0.12      9.275       354        89.82       563     47.46
April 2008                    12      2,767,401       3.38      8.122       355        76.36       597     43.04
May 2008                     159     42,521,119      51.96      8.269       356        79.46       632     42.79
June 2008                     66     18,055,735      22.06      8.386       357        78.72       628     43.81
May 2009                       2        479,393       0.59      7.358       356        82.15       590     42.74
June 2009                      3        528,358       0.65      7.325       357        68.00       593     36.96
April 2011                     2        750,831       0.92      8.819       355        76.48       578     42.63
May 2011                       1        125,744       0.15      9.400       356        86.90       605     44.39
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
 Geographic Distribution  Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
 of Mortgaged Properties    Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

California                   102     37,976,085      46.41      7.976       355        79.39       644     42.99
Florida                       43      7,256,276       8.87      8.443       356        74.64       600     40.89
Illinois                      35      6,786,225       8.29      8.606       355        81.59       624     42.06
Maryland                      19      4,522,553       5.53      8.179       356        78.87       616     42.78
New York                       9      3,732,118       4.56      8.507       356        82.65       632     44.56
Virginia                      21      3,559,758       4.35      8.491       356        76.49       600     42.48
Nevada                        10      2,486,564       3.04      7.997       356        81.83       627     44.43
Connecticut                   11      2,274,932       2.78      9.166       356        73.98       583     44.45
New Jersey                     3      1,446,946       1.77      8.336       356        65.66       616     44.29
Massachusetts                  5      1,317,201       1.61      8.519       355        77.76       604     46.71
Colorado                       4      1,035,012       1.26      8.368       355        73.16       611     47.31
Minnesota                      3        952,866       1.16      8.162       354        77.75       626     50.00
Georgia                        5        862,173       1.05      8.634       356        84.55       603     40.61
Michigan                       6        831,679       1.02      9.181       356        83.35       611     39.05
Hawaii                         1        774,996       0.95      8.990       351        81.58       688     44.76
Other                         42      6,019,213       7.36      8.759       356        80.17       610     39.67
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 36

OCCUPANCY



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
                          Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
        Occupancy           Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Primary                      282     73,645,351      89.99      8.228       355        78.95       626     42.98
Investment                    31      7,234,186       8.84      8.599       356        78.45       644     40.11
Second Home                    6        955,063       1.17      8.966       356        76.69       603     46.74
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
                          Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
      Property Type         Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Single Family Residence      231     56,331,451      68.84      8.280       355        79.13       626     42.93
2-4 Family                    33     10,415,348      12.73      8.345       356        76.12       636     42.66
Planned Unit Development      33      9,615,902      11.75      7.807       356        80.86       635     41.89
Condo                         22      5,471,898       6.69      8.832       356        78.00       619     42.97
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
                          Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
      Loan Purpose          Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Refinance--Cashout           216     52,346,067      63.97      8.225       356        77.57       613     42.39
Purchase                      85     24,986,131      30.53      8.364       355        82.25       659     43.22
Refinance--Rate Term          18      4,502,401       5.50      8.268       356        75.37       625     44.76
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
                          Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
   Documentation Level      Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

Full Documentation           178     40,402,206      49.37      7.898       356        78.81       615     42.51
Stated Documentation         130     38,523,330      47.07      8.697       355        78.81       641     43.10
Limited Documentation         11      2,909,063       3.55      7.787       354        80.67       620     42.11
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                     % of
                                                   Mortgage
                                      Aggregate    Pool by    Weighted
                                       Cut-off    Aggregate    Average    Weighted   Weighted
                           Number        Date      Cut-off      Gross     Average     Average   Weighted
                             of       Principal      Date     Interest   Remaining   Combined    Average    Back
                          Mortgage     Balance    Principal     Rate        Term     Original     FICO      DTI
      Credit Score          Loans        ($)       Balance       (%)      (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

500--524                      21      3,441,804       4.21      9.205       356        64.35       511     46.38
525--549                      24      4,095,913       5.01      9.344       356        68.34       541     42.94
550--574                      32      6,651,638       8.13      8.724       356        76.52       561     43.01
575--599                      39      9,616,884      11.75      8.432       356        81.83       589     42.50
600--624                      67     16,807,716      20.54      8.244       356        79.76       612     41.43
625--649                      54     14,980,270      18.31      8.086       354        78.85       635     43.66
650--674                      33      9,386,302      11.47      7.920       356        81.04       663     40.69
675--699                      27      9,402,584      11.49      8.242       356        80.84       688     43.35
700--724                      10      3,331,957       4.07      7.429       356        83.71       711     44.73
725--749                       4        962,084       1.18      7.548       356        83.25       741     40.88
750--774                       5      1,688,686       2.06      7.894       356        81.38       757     45.36
775--799                       3      1,468,760       1.79      7.359       353        80.71       777     44.38
----------------------------------------------------------------------------------------------------------------
Total:                       319     81,834,599     100.00      8.270       355        78.88       628     42.77
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 779
Non-Zero Weighted Average: 628

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate(%)     (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                            102      25,818,821      31.55      8.497       355        78.72       632     42.71
12                            12       4,193,807       5.12      8.676       356        85.57       635     44.39
24                           139      36,566,523      44.68      8.194       356        78.36       628     43.48
36                            66      15,255,448      18.64      7.955       355        78.54       617     40.76
-----------------------------------------------------------------------------------------------------------------
Total:                       319      81,834,599     100.00      8.270       355        78.88       628     42.77
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 26

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Back
  Lien                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position                    Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

1st Lien                     317      81,730,621      99.87      8.266       356        78.85       628     42.77
2nd Lien                       2         103,978       0.13     11.448       188       100.00       629     43.47
-----------------------------------------------------------------------------------------------------------------
Total:                       319      81,834,599     100.00      8.270       355        78.88       628     42.77
-----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of          Date         Date      Gross     Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term         Loans     Balance ($)    Balance     Rate(%)    (months)     LTV       Score     Ratio
-----------------------------------------------------------------------------------------------------------------

0                            282      67,954,529      83.04      8.406       355        78.89       620     42.71
60                            37      13,880,070      16.96      7.604       355        78.81       665     43.12
-----------------------------------------------------------------------------------------------------------------
Total:                       319      81,834,599     100.00      8.270       355        78.88       628     42.77
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--ENCORE                                          319 records
                                                            Balance: $81,834,599
--------------------------------------------------------------------------------

TOP 5 ZIP CODE CONCENTRATIONS



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 Zip Code Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

92880                                2       1,155,939       1.41      9.147       356        86.06       658     31.71
92807                                1         855,000       1.04      7.990       357        90.00       671     37.20
92879                                2         789,834       0.97      7.957       356        80.00       684     54.82
91356                                1         780,000       0.95      7.590       350        80.00       776     46.25
96793                                1         774,996       0.95      8.990       351        81.58       688     44.76
Other                              312      77,478,830      94.68      8.263       355        78.60       624     42.82
-----------------------------------------------------------------------------------------------------------------------
Total:                             319      81,834,599     100.00      8.270       355        78.88       628     42.77
-----------------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations         Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

Los Angeles                         14       6,683,002       8.17      7.809       356        78.80       668     43.30
Corona                               4       1,945,774       2.38      8.664       356        83.60       668     41.09
Chicago                             10       1,919,963       2.35      8.109       355        76.70       618     40.31
Las Vegas                            7       1,809,930       2.21      7.770       356        81.29       642     43.30
Moreno Valley                        4       1,478,693       1.81      7.507       355        83.26       668     46.63
Other                              280      67,997,238      83.09      8.338       355        78.65       621     42.74
-----------------------------------------------------------------------------------------------------------------------
Total:                             319      81,834,599     100.00      8.270       355        78.88       628     42.77
-----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

ORIGINATOR



                                         % of
                                       Mortgage
                                       Pool by
                         Aggregate    Aggregate   Weighted    Weighted   Weighted
              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                of         Date          Date       Gross    Remaining   Combined    Average    Back
             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Originator     Loans    Balance ($)     Balance    Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------

First NLC      1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
----------------------------------------------------------------------------------------------------
Total:         1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
----------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date         Date        Gross    Remaining   Combined    Average    Back
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Product with IO term           Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                            5        364,080       0.11      7.893       117        59.35       636     42.01
Fixed--15 Year                           12        990,836       0.30      8.744       177        75.67       624     40.05
Fixed--20 Year                           18      1,533,880       0.47      8.323       237        80.55       647     45.95
Fixed--30 Year                          244     27,894,925       8.56      8.584       357        80.50       620     40.75
Balloon--15/30                          216     13,422,687       4.12     11.477       177        99.52       655     44.84
Balloon--30/40                           19      3,408,356       1.05      8.030       357        86.01       628     44.60
ARM--2 Year/6 Month Balloon 30/40       245     64,437,111      19.78      8.002       357        80.27       637     44.19
ARM--3 Year/6 Month Balloon 30/40       127     26,617,342       8.17      8.217       357        80.33       618     44.56
ARM--2 Year/6 Month                     340     60,704,370      18.64      8.647       357        79.84       610     43.20
ARM--3 Year/6 Month                     405     64,717,088      19.87      8.913       357        79.00       594     43.53
ARM--5 Year/6 Month                       2        200,845       0.06      8.342       358        67.54       575     48.96
Interest Only ARM--2 Year/6
   Month--24 mo. IO term                  1        210,400       0.06      8.250       358        80.00       628     36.80
Interest Only ARM--3 Year/6
   Month--36 mo. IO term                  2        411,500       0.13      8.195       357        75.77       611     38.57
Interest Only Fixed--30 Year--60
   mo. IO term                            4      1,115,685       0.34      6.980       357        76.32       678     37.16
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                157     46,040,061      14.14      7.934       357        80.27       663     44.30
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                 47     13,050,655       4.01      7.901       357        81.40       667     42.76
Interest Only ARM--5 Year/6
   Month--60 mo. IO term                  1        592,500       0.18      6.500       358        79.00       699     37.69
---------------------------------------------------------------------------------------------------------------------------
Total:                                1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
---------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                       of           Date         Date       Gross    Remaining   Combined    Average    Back
  Range of Gross     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Rates (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

6.000--6.999              97     23,232,753       7.13      6.786       355        77.01       663     42.47
7.000--7.999             467    109,492,145      33.62      7.596       356        78.68       649     43.02
8.000--8.999             559    104,623,698      32.12      8.510       356        79.88       619     43.57
9.000--9.999             356     57,602,758      17.69      9.514       353        81.82       588     44.64
10.000--10.999           178     18,529,202       5.69     10.510       322        88.98       597     43.58
11.000--11.999           121      8,788,186       2.70     11.558       222        96.64       627     44.77
12.000--12.999            43      2,387,304       0.73     12.499       219        99.91       642     46.11
13.000--13.999            22        947,943       0.29     13.348       222       100.00       632     43.32
14.000--14.999             2        108,333       0.03     14.151       257       100.00       637     47.49
------------------------------------------------------------------------------------------------------------
Total:                 1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
------------------------------------------------------------------------------------------------------------


Minimum: 6.150
Maximum: 14.240
Weighted Average: 8.498

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of         Date          Date       Gross    Remaining   Combined    Average    Back
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

1--25,000                     17        364,126       0.11     10.827       272        99.65       664     44.97
25,001--50,000               126      4,936,002       1.52     11.371       240        97.77       648     41.97
50,001--75,000               178     11,406,819       3.50     10.210       276        87.21       623     42.32
75,001--100,000              228     20,078,168       6.16      9.256       322        83.68       615     40.31
100,001--125,000             215     24,324,192       7.47      9.018       338        81.19       611     41.57
125,001--150,000             163     22,541,122       6.92      8.687       354        79.76       611     43.07
150,001--175,000             157     25,484,783       7.82      8.527       355        79.41       616     42.80
175,001--200,000             155     29,058,894       8.92      8.427       357        78.83       622     43.82
200,001--225,000             115     24,478,254       7.52      8.430       357        79.69       625     44.47
225,001--250,000             103     24,455,797       7.51      8.212       356        79.69       618     45.46
250,001--275,000              72     18,880,381       5.80      8.238       357        80.33       626     43.57
275,001--300,000              67     19,288,419       5.92      8.177       357        79.52       625     44.59
300,001--325,000              48     14,993,031       4.60      8.060       357        79.59       634     45.82
325,001--350,000              37     12,442,600       3.82      8.087       357        79.99       633     43.55
350,001--375,000              32     11,522,319       3.54      8.204       357        80.54       641     43.15
375,001--400,000              28     10,906,838       3.35      8.171       357        81.00       636     43.16
400,001--425,000              24      9,949,653       3.05      8.054       357        79.94       640     45.93
425,001--450,000              16      7,008,441       2.15      7.891       358        80.24       647     43.58
450,001--475,000              13      5,992,244       1.84      7.877       357        80.37       638     42.55
475,001--500,000              23     11,310,775       3.47      7.987       357        78.97       659     44.20
500,001--750,000              28     16,289,465       5.00      7.968       357        83.02       641     44.49
----------------------------------------------------------------------------------------------------------------
Total:                     1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 716,517
Average: 176,538

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

120                                   5       364,080       0.11       7.893       117        59.35       636     42.01
180                                 228     14,413,523      4.43      11.289       177        97.88       653     44.55
240                                  18      1,533,880      0.47       8.323       237        80.55       647     45.95
360                               1,594    309,400,839     94.99       8.370       357        80.03       625     43.49

-----------------------------------------------------------------------------------------------------------------------
Total:                            1,845    325,712,321    100.00       8.498       348        80.80       626     43.55
-----------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 351

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Terms (months)          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

109--120                          5        364,080       0.11      7.893       117        59.35       636     42.01
169--180                        228     14,413,523       4.43     11.289       177        97.88       653     44.55
229--240                          8      1,533,880       0.47      8.323       237        80.55       647     45.95
349--360                      1,594    309,400,839      94.99      8.370       357        80.03       625     43.49
-------------------------------------------------------------------------------------------------------------------
Total:                        1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 358
Weighted Average: 348

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

25.01--30.00                       2        199,122       0.06      7.684       246        26.51       629     43.99
30.01--35.00                       3        440,123       0.14      7.908       357        32.76       645     42.18
35.01--40.00                       5        798,558       0.25      8.469       358        38.90       598     45.59
40.01--45.00                      13      1,801,836       0.55      7.839       347        42.72       598     39.09
45.01--50.00                      19      3,092,175       0.95      7.929       357        47.76       623     37.51
50.01--55.00                      14      1,979,662       0.61      9.007       358        52.46       541     42.07
55.01--60.00                      22      3,367,891       1.03      8.049       343        58.54       598     44.01
60.01--65.00                      44      7,525,235       2.31      8.649       353        63.15       565     40.93
65.01--70.00                      73     12,468,942       3.83      8.352       355        68.73       585     40.63
70.01--75.00                     132     25,013,613       7.68      8.408       353        74.05       581     43.29
75.01--80.00                     778    169,219,178      51.95      8.063       357        79.78       644     44.07
80.01--85.00                     161     30,205,114       9.27      8.709       356        84.40       607     42.89
85.01--90.00                     210     37,107,298      11.39      8.942       356        89.43       613     43.32
90.01--95.00                      58     10,177,733       3.12      9.243       352        94.34       633     44.16
95.01--100.00                    311     22,315,842       6.85     10.743       250        99.82       648     44.63
--------------------------------------------------------------------------------------------------------------------
Total:                         1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
--------------------------------------------------------------------------------------------------------------------


Minimum: 25.42
Maximum: 100.00
Weighted Average: 80.80

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------


Fixed Rate Loans                 518     48,730,449      14.96      9.296       298        85.77       633     42.23
4.501--5.000                       3        545,096       0.17      8.698       357        78.02       564     45.60
5.001--5.500                      30      5,152,625       1.58      9.152       357        83.51       609     44.17
5.501--6.000                     111     22,519,272       6.91      8.289       357        80.54       625     45.05
6.001--6.500                     136     31,197,209       9.58      7.487       357        79.37       646     43.08
6.501--7.000                     220     48,273,553      14.82      7.738       357        79.11       647     42.71
7.001--7.500                     716    138,027,813      42.38      8.609       357        79.81       617     43.98
7.501--8.000                      69     18,888,746       5.80      8.815       357        80.55       618     43.84
8.001--8.500                      35     10,703,296       3.29      9.256       357        81.00       589     43.94
8.501--9.000                       5      1,258,674       0.39      9.310       357        92.38       647     50.52
9.001--9.500                       2        415,588       0.13      9.370       358        80.00       639     49.34
--------------------------------------------------------------------------------------------------------------------
Total:                         1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.950
Maximum: 9.240
Non-Zero Weighted Average: 7.095

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 518     48,730,449      14.96       9.296      298        85.77       633     42.23
6.001--6.500                      11      3,268,809       1.00       6.388      357        77.77       670     44.57
6.501--7.000                      68     16,729,356       5.14       6.889      357        77.74       658     43.25
7.001--7.500                     146     36,687,593      11.26       7.319      357        78.54       657     42.95
7.501--8.000                     264     63,656,424      19.54       7.804      357        78.98       643     43.50
8.001--8.500                     207     45,903,556      14.09       8.261      357        79.85       635     43.51
8.501--9.000                     244     45,411,504      13.94       8.777      357        79.94       606     44.10
9.001--9.500                     142     27,553,133       8.46       9.286      357        81.57       604     44.39
9.501--10.000                    140     23,377,880       7.18       9.777      357        81.04       570     45.62
10.001 -10.500                    60      8,175,312       2.51      10.272      357        85.08       570     44.38
10.501--11.000                    36      4,959,699       1.52      10.743      357        87.55       571     41.94
11.001--11.500                     7      1,028,561       0.32      11.127      356        81.09       546     42.07
11.501--12.000                     1        157,803       0.05      11.690      357        90.00       559     34.47
12.001--12.500                     1         72,243       0.02      12.440      357        99.95       630     46.27
--------------------------------------------------------------------------------------------------------------------
Total:                         1,845    325,712,321     100.00       8.498      348        80.80       626     43.55
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.150
Maximum: 12.440
Non-Zero Weighted Average: 8.357

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 518     48,730,449      14.96       9.296      298        85.77       633     42.23
13.001--13.500                    11      3,268,809       1.00       6.388      357        77.77       670     44.57
13.501--14.000                    72     17,466,652       5.36       6.931      357        77.51       657     43.01
14.001--14.500                   148     37,322,755      11.46       7.328      357        78.30       656     42.97
14.501--15.000                   264     63,420,597      19.47       7.811      357        79.05       643     43.57
15.001--15.500                   207     45,521,192      13.98       8.277      357        80.12       635     43.47
15.501--16.000                   248     45,855,166      14.08       8.791      357        79.95       606     44.14
16.001--16.500                   142     27,279,395       8.38       9.297      357        81.59       605     44.42
16.501--17.000                   135     22,880,753       7.02       9.778      357        81.00       569     45.59
17.001--17.500                    57      8,121,074       2.49      10.303      357        84.51       568     43.95
17.501--18.000                    35      4,898,195       1.50      10.744      357        87.65       571     42.02
18.001--18.500                     6        717,237       0.22      11.161      357        88.37       551     45.49
18.501--19.000                     1        157,803       0.05      11.690      357        90.00       559     34.47
19.001--19.500                     1         72,243       0.02      12.440      357        99.95       630     46.27
------------------------------------ -------------- ---------- ----------- -------- ------------ --------- ---------
Total:                         1,845    325,712,321     100.00       8.498      348        80.80       626     43.55
------------------------------------ -------------- ---------- ----------- -------- ------------ --------- ---------


Non-Zero Minimum: 13.150
Maximum: 19.440
Non-Zero Weighted Average: 15.344

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Initial Periodic Cap (%)       Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     518     48,730,449      14.96      9.296       298        85.77       633     42.23
2.000                                  1        113,736       0.03      9.050       356        61.62       613     38.19
3.000                              1,326    276,868,136      85.00      8.358       357        79.93       625     43.78
-------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.000
Maximum: 3.000
Non-Zero Weighted Average: 3.000

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Subsequent Periodic Cap (%)     Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     518     48,730,449      14.96      9.296       298        85.77       633     42.23
1.000                                 29      4,877,744       1.50      8.767       356        75.67       596     42.18
1.500                              1,298    272,104,128      83.54      8.351       357        80.00       625     43.81
-------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.491

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average   Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Next Rate Adjustment Dates      Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     518     48,730,449      14.96      9.296       298        85.77      633      42.23
November 2007                          1        148,920       0.05     10.050       350        80.00      511      51.30
January 2008                           5        925,256       0.28      7.844       352        87.29      619      43.80
February 2008                          5      1,497,724       0.46      8.456       353        83.77      618      46.13
March 2008                            14      2,874,675       0.88      8.638       354        78.87      605      41.47
April 2008                            22      4,888,640       1.50      8.476       355        80.06      634      44.89
May 2008                              84     21,528,648       6.61      8.271       356        80.72      637      42.78
June 2008                            294     67,863,712      20.84      8.196       357        80.38      633      44.08
July 2008                            318     71,664,365      22.00      8.171       358        79.58      636      43.93
January 2009                           1         91,129       0.03      9.250       352        80.00      628      45.42
February 2009                          2        183,816       0.06      8.781       354        90.00      650      36.47
March 2009                             5        950,908       0.29      8.557       354        81.38      579      40.71
April 2009                             9      1,726,371       0.53      9.111       355        77.42      594      39.89
May 2009                              56     10,371,808       3.18      8.627       356        77.50      607      42.26
June 2009                            241     43,100,349      13.23      8.610       357        80.35      603      44.12
July 2009                            267     48,372,203      14.85      8.582       358        79.44      616      43.80
July 2011                              3        793,345       0.24      6.966       358        76.10      668      40.54
-------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80      626      43.55
-------------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Mortgaged Properties          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

California                           368     98,791,299      30.33      8.226       344        80.63       643     43.83
Florida                              332     57,140,002      17.54      8.535       351        79.43       625     44.71
Illinois                             196     32,923,143      10.11      8.774       348        82.19       618     44.57
Texas                                168     16,473,609       5.06      8.566       337        82.03       619     41.36
Arizona                               95     15,671,055       4.81      8.226       351        80.89       630     43.88
Maryland                              57     12,020,802       3.69      8.220       354        77.49       617     40.99
Virginia                              50      8,439,258       2.59      8.974       349        76.99       608     44.73
Massachusetts                         35      7,309,298       2.24      8.856       352        83.44       620     44.29
Michigan                              72      7,296,765       2.24      9.384       355        82.39       594     42.67
Washington                            39      7,225,137       2.22      8.121       357        80.22       604     42.63
Pennsylvania                          57      6,381,489       1.96      9.020       355        82.29       601     41.89
Nevada                                30      5,862,411       1.80      8.258       346        82.55       644     42.66
Rhode Island                          26      5,592,589       1.72      8.606       355        77.71       636     45.17
Georgia                               39      4,875,796       1.50      9.005       357        82.75       626     41.97
New Jersey                            22      4,777,016       1.47      9.033       357        78.16       602     44.23
Other                                259     34,932,653      10.73      8.624       352        82.86       613     41.94
-------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 36

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
           Occupancy               Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Primary                            1,743    310,177,030      95.23      8.487       348        80.69       624     43.81
Investment                           100     15,233,867       4.68      8.722       356        82.87       659     38.31
Second Home                            2        301,424       0.09      9.068       358        89.42       666     39.22
-------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Property Type            Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Single Family Residence            1,623    283,024,032      86.89      8.483       349        80.79       623     43.61
2-4 Family                           115     25,770,716       7.91      8.625       345        80.55       651     43.15
Condo                                 97     15,310,051       4.70      8.621       344        81.95       643     43.63
Planned Unit Development              10      1,607,522       0.49      8.091       347        74.99       644     38.67
-------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-------------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Loan Purpose              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                   861    163,039,232      50.06      8.464       354        78.75       603     42.88
Purchase                             862    143,685,126      44.11      8.559       341        83.05       654     44.52
Refinance--Rate Term                 122     18,987,963       5.83      8.332       351        81.33       608     41.96
------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
------------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Documentation Level          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------------

Stated Documentation               1,049    194,581,094      59.74      8.591       346        80.65       639     44.38
Full Documentation                   717    114,012,987      35.00      8.397       352        80.84       603     42.84
Limited Documentation                 79     17,118,240       5.26      8.124       351        82.12       629     38.85
------------------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                     Aggregate     Aggregate   Weighted    Weighted   Weighted
                           Number     Cut-off       Cut-off     Average    Average    Average    Weighted
                             of        Date           Date       Gross    Remaining   Combined   Average     Back
                          Mortgage   Principal     Principal   Interest      Term     Original    FICO       DTI
Credit Score                Loans    Balance ($)     Balance    Rate(%)    (months)     LTV       Score     Ratio
-----------------------------------------------------------------------------------------------------------------

500--524                       70     11,515,213       3.54      9.627        356       73.04      511      45.13
525--549                      127     21,039,390       6.46      9.430        357       74.47      537      43.61
550--574                      172     27,440,601       8.42      8.953        357       78.42      563      42.99
575--599                      207     38,260,638      11.75      8.717        355       82.04      587      42.89
600--624                      292     51,605,925      15.84      8.501        347       81.53      613      43.22
625--649                      414     67,042,585      20.58      8.444        344       81.80      637      43.99
650--674                      273     52,284,425      16.05      8.169        344       82.05      661      44.70
675--699                      154     29,036,506       8.91      7.909        344       81.58      685      42.17
700--724                       57     12,598,333       3.87      7.844        345       83.06      708      43.41
725--749                       43      7,258,920       2.23      8.010        348       83.25      735      42.46
750--774                       26      5,778,820       1.77      7.898        348       80.14      761      42.62
775--799                        8      1,526,126       0.47      8.303        343       82.93      784      45.52
800 +                           2        324,840       0.10      8.440        357       84.00      802      43.77
-----------------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321     100.00      8.498        348       80.80      626      43.55
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 802
Non-Zero Weighted Average: 626

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                             577     86,816,955      26.65      8.755        348       81.68       619     43.05
12                             55     14,384,491       4.42      8.693        356       79.85       638     43.93
24                            587    129,737,470      39.83      8.161        354       80.01       633     43.67
30                              6      1,220,752       0.37      9.523        357       82.72       608     46.32
36                            620     93,552,654      28.72      8.684        339       81.19       621     43.75
-----------------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321     100.00      8.498        348       80.80       626     43.55
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 28

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average    Back
  Lien                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position                    Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

1st Lien                    1,568    309,643,203      95.07      8.343        356       79.81       625     43.49
2nd Lien                      277     16,069,118       4.93     11.489        206       99.82       655     44.66
-----------------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321     100.00      8.498        348       80.80       626     43.55
-----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date        Date        Gross    Remaining   Combined    Average   Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                           1,633    264,291,520      81.14      8.638       346        80.89       617     43.51
24                              1        210,400       0.06      8.250       358        80.00       628     36.80
36                              2        411,500       0.13      8.195       357        75.77       611     38.57
60                            209     60,798,901      18.67      7.895       357        80.43       664     43.77
-----------------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321     100.00      8.498       348        80.80       626     43.55
-----------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date        Date        Gross    Remaining   Combined    Average    Back
Top 5 Zip Code            Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
Concentrations              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score     Ratio
------------------------------------------------------------------------------------------------------------------

94533                           7      2,151,141      0.66       8.178        351       81.61       647      48.06
94541                           4      1,962,875      0.60       7.818        358       80.00       677      43.81
33064                           7      1,413,422      0.43       8.577        343       75.55       632      47.96
90044                           3      1,403,499      0.43       7.894        357       78.90       741      42.44
60617                           6      1,259,043      0.39       8.713        357       85.71       641      45.03
Other                       1,818    317,522,341     97.49       8.506        348       80.81       625      43.50
------------------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321    100.00       8.498        348       80.80       626      43.55
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10




IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--FIRST NLC                                     1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

TOP 5 CITY CONCENTRATIONS



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score     Ratio
--------------------------------------------------------------------------------------------------------------------

Chicago                          61     11,289,498       3.47      8.744        348       79.85       619      44.26
Miami                            51      9,713,236       2.98      8.341        349       76.62       621      46.30
Los Angeles                      18      6,284,632       1.93      8.250        345       80.92       657      41.89
Phoenix                          39      6,163,908       1.89      8.078        349       80.25       639      44.43
Las Vegas                        29      5,658,530       1.74      8.269        345       82.64       645      42.37
Other                         1,647    286,602,517      87.99      8.513        348       80.95       625      43.47
--------------------------------------------------------------------------------------------------------------------
Total:                        1,845    325,712,321     100.00      8.498        348       80.80       626      43.55
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

ORIGINATOR



                                              % of
                                            Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date        Date        Gross    Remaining   Combined    Average    Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score     Ratio
-----------------------------------------------------------------------------------------------------------

Master Financial      212      49,777,061     100.00      8.506       335        83.97       638      42.07
-----------------------------------------------------------------------------------------------------------
Total:                212      49,777,061     100.00      8.506       335        83.97       638      42.07
-----------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Product with IO term         Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed--30 Year                     2         556,296       1.12      7.511       353        87.66       627     36.03
Balloon--15/30                    68       5,659,759      11.37     11.527       175        99.81       655     42.08
Balloon--30/40                     2         958,480       1.93      8.271       355        70.21       635     33.74
ARM--2 Year/6 Month Balloon
   30/40                          51      16,538,211      33.22      8.213       355        81.29       619     43.53
ARM--3 Year/6 Month Balloon
   30/40                           1         988,299       1.99      6.600       356        90.00       695     59.34
ARM--2 Year/6 Month               55      13,003,444      26.12      8.488       355        81.76       627     39.68
ARM--5 Year/6 Month                1         163,942       0.33      6.950       354        55.00       686     39.68
Interest Only Fixed--30
   Year--60 mo. IO term            1         508,000       1.02      7.000       357        80.00       652     45.51
Interest Only ARM--2 Year/6
   Month--60 mo. IO term          31      11,400,630      22.90      7.773       355        83.55       664     42.03
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Gross Interest   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Rates (%)            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

6.000--6.999                   8       2,964,002       5.95      6.733       355        80.21       667     50.41
7.000--7.999                  66      21,587,248      43.37      7.520       355        81.08       647     41.20
8.000--8.999                  37      11,197,862      22.50      8.520       355        82.27       631     42.01
9.000--9.999                  29       7,612,662      15.29      9.498       348        84.89       602     41.13
10.000--10.999                21       2,189,172       4.40     10.352       250        93.60       664     42.36
11.000--11.999                30       2,605,456       5.23     11.659       186        98.84       652     41.07
12.000--12.999                16       1,339,134       2.69     12.356       175        99.77       621     44.24
13.000--13.999                 5         281,526       0.57     13.458       174       100.00       631     44.53
-----------------------------------------------------------------------------------------------------------------
Total:                       212      49,777,061     100.00      8.506       335        83.97       638     42.07
-----------------------------------------------------------------------------------------------------------------


Minimum: 6.500
Maximum: 13.850
Weighted Average: 8.506

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                  Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of          Date        Date        Gross    Remaining   Combined    Average    Back
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

1--25,000                     2          42,901       0.09     12.219       175       100.00       643     36.41
25,001--50,000               11         420,577       0.84     11.739       175       100.00       662     43.38
50,001--75,000               25       1,614,395       3.24     11.266       204        95.95       659     42.01
75,001--100,000              14       1,209,467       2.43     11.121       228        97.90       645     41.19
100,001--125,000             19       2,121,145       4.26     10.868       223        93.46       631     46.29
125,001--150,000             20       2,803,888       5.63      9.470       302        88.93       633     37.11
150,001--175,000             12       1,941,972       3.90      9.096       296        76.73       612     42.51
175,001--200,000             10       1,857,169       3.73      7.944       354        78.25       632     43.22
200,001--225,000              9       1,954,410       3.93      7.840       354        84.05       629     41.98
225,001--250,000              8       1,882,098       3.78      8.115       356        84.31       666     46.37
250,001--275,000             11       2,872,898       5.77      8.191       355        80.48       611     43.01
275,001--300,000              7       2,038,017       4.09      8.217       356        77.90       613     45.46
300,001--325,000              8       2,507,523       5.04      8.190       356        83.55       626     43.17
325,001--350,000              8       2,730,599       5.49      8.404       355        86.79       638     44.51
350,001--375,000              4       1,448,300       2.91      7.509       356        73.89       655     38.50
375,001--400,000              6       2,310,735       4.64      8.617       356        76.77       659     39.56
400,001--425,000              3       1,237,651       2.49      8.329       354        86.65       649     45.44
425,001--450,000              5       2,199,747       4.42      8.141       354        84.35       600     42.14
450,001--475,000              4       1,839,414       3.70      8.066       356        81.16       670     43.94
475,001--500,000              6       2,925,775       5.88      7.923       354        80.60       637     42.82
500,001--750,000             19      10,830,083      21.76      7.974       355        83.80       642     38.35
750,001--1,000,000            1         988,299       1.99      6.600       356        90.00       695     59.34
----------------------------------------------------------------------------------------------------------------
Total:                      212      49,777,061     100.00      8.506       335        83.97       638     42.07
----------------------------------------------------------------------------------------------------------------


Minimum: 17,918
Maximum: 988,299
Average: 234,797

STATED ORIGINAL TERM (MONTHS)



                                                   % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date        Date        Gross    Remaining   Combined    Average    Back
Stated Original Term   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      (months)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------

180                        68       5,659,759      11.37     11.527       175        99.81       655     42.08
360                       144      44,117,303      88.63      8.118       355        81.94       636     42.07
--------------------------------------------------------------------------------------------------------------
Total:                    212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 340

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
 Range of Stated Remaining    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Terms (months)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

169--180                          68       5,659,759      11.37     11.527       175        99.81       655     42.08
349--360                         144      44,117,303      88.63      8.118       355        81.94       636     42.07
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


Minimum: 171
Maximum: 357
Weighted Average: 335

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
 Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       LTV Ratios (%)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

25.01--30.00                       1         114,655       0.23      7.500       356        26.74       608     52.47
45.01--50.00                       1         168,607       0.34      8.750       356        47.61       629     36.12
50.01--55.00                       4         694,990       1.40      7.578       355        53.62       601     43.60
55.01--60.00                       3         825,310       1.66      7.378       355        55.80       645     42.52
60.01--65.00                       4       1,053,690       2.12      8.447       356        64.33       554     43.60
65.01--70.00                       4       1,034,236       2.08      9.472       356        69.97       524     39.80
70.01--75.00                       3       1,352,024       2.72      8.551       353        73.08       575     41.42
75.01--80.00                      68      21,606,252      43.41      7.940       355        79.93       651     41.33
80.01--85.00                      18       5,248,132      10.54      8.314       355        84.97       602     42.82
85.01--90.00                      21       7,335,873      14.74      7.743       353        89.31       635     44.80
90.01--95.00                      11       3,140,003       6.31      9.065       351        94.88       654     39.55
95.01--100.00                     74       7,203,289      14.47     10.964       217       100.00       665     42.03
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


Minimum: 26.74
Maximum: 100.00
Weighted Average: 83.97

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Range of Gross Margins (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  73       7,682,535      15.43     10.531       222        93.92       650     40.83
4.501--5.000                      38      12,155,415      24.42      8.002       356        81.69       655     41.06
5.001--5.500                      61      19,520,111      39.22      7.890       355        82.52       648     42.94
5.501--6.000                      20       5,745,266      11.54      8.516       354        84.29       601     43.27
6.001--6.500                       7       1,739,282       3.49      9.159       355        85.98       556     41.70
6.501--7.000                       6       1,563,403       3.14      9.447       356        84.41       623     40.55
7.001--7.500                       4         810,889       1.63      8.655       355        67.71       549     40.65
7.501--8.000                       1          74,738       0.15      9.550       353        56.82       565     48.30
8.001--8.500                       2         485,423       0.98      7.939       356        60.65       514     45.49
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.000
Maximum: 8.500
Non-Zero Weighted Average: 5.485

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
 Range of Minimum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Rates (%)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  73       7,682,535      15.43     10.531       222        93.92       650     40.83
6.001--6.500                       1         345,577       0.69      6.500       354        84.51       636     44.37
6.501--7.000                      11       4,137,994       8.31      6.865       355        81.79       648     46.61
7.001--7.500                      26       8,009,097      16.09      7.338       355        80.73       658     38.98
7.501--8.000                      33      10,664,271      21.42      7.785       355        81.39       644     43.30
8.001--8.500                      19       6,103,094      12.26      8.291       355        81.51       618     40.81
8.501--9.000                      19       5,573,470      11.20      8.812       356        82.91       643     43.70
9.001--9.500                       7       2,329,568       4.68      9.237       355        87.12       613     44.90
9.501--10.000                     17       4,272,754       8.58      9.768       356        83.31       596     41.16
10.001 -10.500                     2         230,608       0.46     10.259       356       100.00       671     45.98
10.501--11.000                     3         279,704       0.56     10.831       355        77.87       539     32.74
11.001--11.500                     1         148,388       0.30     11.250       353        85.00       535     35.79
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.500
Maximum: 11.250
Non-Zero Weighted Average: 8.136

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
 Range of Maximum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Rates (%)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  73       7,682,535      15.43     10.531       222        93.92       650     40.83
13.001--13.500                     1         345,577       0.69      6.500       354        84.51       636     44.37
13.501--14.000                    11       4,137,994       8.31      6.865       355        81.79       648     46.61
14.001--14.500                    26       8,009,097      16.09      7.338       355        80.73       658     38.98
14.501--15.000                    33      10,664,271      21.42      7.785       355        81.39       644     43.30
15.001--15.500                    19       6,103,094      12.26      8.291       355        81.51       618     40.81
15.501--16.000                    19       5,573,470      11.20      8.812       356        82.91       643     43.70
16.001--16.500                     7       2,329,568       4.68      9.237       355        87.12       613     44.90
16.501--17.000                    17       4,272,754       8.58      9.768       356        83.31       596     41.16
17.001--17.500                     2         230,608       0.46     10.259       356       100.00       671     45.98
17.501--18.000                     3         279,704       0.56     10.831       355        77.87       539     32.74
18.001--18.500                     1         148,388       0.30     11.250       353        85.00       535     35.79
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13.500
Maximum: 18.250
Non-Zero Weighted Average: 15.136

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Initial Periodic Cap (%)      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  73       7,682,535      15.43     10.531       222        93.92       650     40.83
2.000                              1         144,400       0.29      7.950       354       100.00       753     23.98
3.000                            138      41,950,126      84.28      8.137       355        82.09       635     42.36
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.000
Maximum: 3.000
Non-Zero Weighted Average: 2.997

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  73       7,682,535      15.43     10.531       222        93.92       650     40.83
1.000                            138      41,930,585      84.24      8.141       355        82.26       635     42.30
1.500                              1         163,942       0.33      6.950       354        55.00       686     39.68
---------------------------------------------------------------------------------------------------------------------
Total:                           212      49,777,061     100.00      8.506       335        83.97       638     42.07
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.002

NEXT RATE ADJUSTMENT DATES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
    Next Rate                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Adjustment Dates               Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 73       7,682,535      15.43     10.531       222        93.92       650     40.83
October 2007                      1         148,392       0.30      7.715       349        80.00       688     41.18
November 2007                     1         168,204       0.34      7.115       350        80.00       587     43.17
December 2007                     5       1,148,601       2.31      7.914       351        76.27       632     35.42
January 2008                      6       1,184,643       2.38      7.286       352        77.78       637     43.65
February 2008                    17       5,536,778      11.12      7.992       353        84.07       636     42.96
March 2008                       18       5,487,569      11.02      8.183       354        82.67       621     41.73
April 2008                       26       8,664,503      17.41      8.198       355        85.55       655     41.36
May 2008                         40      12,168,311      24.45      8.135       356        79.07       621     41.50
June 2008                        23       6,435,285      12.93      8.637       357        82.77       640     43.39
May 2009                          1         988,299       1.99      6.600       356        90.00       695     59.34
March 2011                        1         163,942       0.33      6.950       354        55.00       686     39.68
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                      109      31,405,215      63.09      8.342       333        83.77       638     43.49
Florida                          76      13,164,656      26.45      8.807       332        84.41       645     38.27
Nevada                            9       2,222,191       4.46      8.305       347        84.60       644     45.91
Arizona                           3         629,315       1.26     10.718       323        75.67       554     35.72
Hawaii                            1         518,319       1.04      8.250       355        80.00       627     43.26
Colorado                          4         445,851       0.90      8.092       335        85.12       694     40.60
Michigan                          4         416,207       0.84      9.289       356        94.03       579     46.74
Washington                        1         337,891       0.68      7.895       355        90.00       628     49.40
Missouri                          2         209,527       0.42     10.455       354        86.46       561     39.36
Maryland                          1         188,693       0.38      9.750       356        95.00       593     47.87
Connecticut                       1         178,159       0.36      7.000       356        65.00       628     17.55
Illinois                          1          61,038       0.12      9.225       355        90.00       606     45.35
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 12

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

OCCUPANCY



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Occupancy                      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Primary                         207      48,514,056      97.46      8.493       334        83.79       636     42.15
Second Home                       3         948,061       1.90      9.359       357        95.00       704     37.12
Investment                        2         314,945       0.63      7.872       356        78.31       695     44.81
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Property Type            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Single Family Residence        154       38,088,481      76.52      8.526       335        83.92       634     42.84
Planned Unit Development        22        5,255,326      10.56      8.497       332        85.28       645     35.40
Condo                           26        4,652,014       9.35      8.109       338        84.31       666     42.85
2-4 Family                      10        1,781,240       3.58      9.130       322        80.31       634     43.20
--------------------------------------------------------------------------------------------------------------------
Total:                         212       49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                        % of
                                                      Mortgage
                                                       Pool by
                                          Aggregate   Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Loan Purpose               Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Purchase                        143      29,667,783      59.60      8.718       324        85.90       657     41.48
Refinance--Cashout               66      19,360,495      38.89      8.206       351        80.71       610     42.95
Refinance--Rate Term              3         748,783       1.50      7.828       335        91.38       621     42.39
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Documentation Level           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Stated Documentation            116      25,919,562      52.07      8.868       333        84.74       644     42.22
Full Documentation               86      21,496,073      43.18      8.052       337        82.84       633     41.83
Limited Documentation            10       2,361,427       4.74      8.659       334        85.71       622     42.54
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

CREDIT SCORE



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score                   Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

500--524                          8       2,055,411       4.13      9.145       355         72.37      510     44.12
525--549                          5       1,306,863       2.63      9.442       356         70.93      531     42.09
550--574                         12       1,929,482       3.88      9.410       345         84.66      561     42.28
575--599                         15       3,713,907       7.46      8.522       344         83.67      589     46.24
600--624                         40       9,995,418      20.08      8.483       333         84.32      613     41.11
625--649                         48      11,422,255      22.95      8.234       336         84.43      634     40.22
650--674                         27       6,445,877      12.95      8.403       332         83.31      661     41.44
675--699                         23       5,570,044      11.19      8.150       323         85.16      686     44.72
700--724                         25       5,319,171      10.69      8.895       327         88.38      712     43.25
725--749                          5         812,607       1.63      8.065       327         84.67      731     41.55
750--774                          4       1,206,026       2.42      8.432       339         88.43      757     37.02
--------------------------------------------------------------------------------------------------------------------
Total:                         212       49,777,061     100.00      8.506       335         83.97      638     42.07
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 760
Non-Zero Weighted Average: 638

PREPAYMENT PENALTY TERM



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

0                                18       3,603,705       7.24      9.088       342        82.66       642     44.86
12                               14       4,684,731       9.41      8.650       342        82.05       651     42.26
24                              151      38,190,719      76.72      8.347       340        84.29       634     41.92
36                               29       3,297,906       6.63      9.496       253        84.36       662     40.44
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 24

LIEN POSITION



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Lien Position                  Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

1st Lien                        144      44,117,303      88.63      8.118       355        81.94       636     42.07
2nd Lien                         68       5,659,759      11.37     11.527       175        99.81       655     42.08
--------------------------------------------------------------------------------------------------------------------
Total:                          212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--MASTER FINANCIAL                                212 records
                                                            Balance: $49,777,061

INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date        Date        Gross    Remaining   Combined    Average   Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------

0                       180      37,868,431      76.08      8.746       328        84.15       630     42.03
60                       32      11,908,630      23.92      7.740       355        83.40       663     42.18
------------------------------------------------------------------------------------------------------------
Total:                  212      49,777,061     100.00      8.506       335        83.97       638     42.07
------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                             % of
                                           Mortgage
                                           Pool by
                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                    of          Date        Date        Gross    Remaining   Combined    Average    Back
Top 5 Zip Code   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------

90745                 3       1,117,286       2.24      8.441       334        82.45       637     44.68
91206                 1         988,299       1.99      6.600       356        90.00       695     59.34
93307                 4         803,197       1.61      8.363       356        81.26       611     42.18
91789                 2         709,220       1.42      9.798       319        84.00       621     28.09
33428                 1         707,254       1.42      8.325       356        80.00       657     28.51
Other               201      45,451,803      91.31      8.534       334        83.98       637     42.06
--------------------------------------------------------------------------------------------------------
Total:              212      49,777,061     100.00      8.506       335        83.97       638     42.07
--------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Miami                           16       2,706,452       5.44      8.930       326        83.50       642     43.85
Los Angeles                      7       2,139,047       4.30      8.166       332        81.23       642     42.95
Carson                           4       1,244,688       2.50      8.775       318        84.25       634     44.92
Glendale                         2       1,107,188       2.22      7.286       337        91.07       692     58.18
Lake Elsinore                    3       1,037,786       2.08      8.047       356        83.07       652     37.89
Other                          180      41,541,900      83.46      8.531       335        83.96       636     41.50
-------------------------------------------------------------------------------------------------------------------
Total:                         212      49,777,061     100.00      8.506       335        83.97       638     42.07
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


16-Aug-06                                                                      9



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calling toll-free 1-866-718-1649.

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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

ORIGINATOR



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                 of         Date          Date       Gross    Remaining   Combined    Average    Back
              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Originator     Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------

New Century      588     137,056,286     100.00      8.259       358      80.03         631     42.23
-----------------------------------------------------------------------------------------------------
Total:           588     137,056,286     100.00      8.259       358      80.03         631     42.23
-----------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                        % of
                                                                      Mortgage
                                                                      Pool by
                                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                               of         Date          Date       Gross    Remaining   Combined    Average    Back
                                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Product with IO term                Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                                   1          20,684      0.02       9.800       174       100.00       684     37.76
Fixed--30 Year                                  18       1,886,625      1.38       8.827       355        77.80       636     39.05
Balloon--30/40                                   3         789,588      0.58       7.432       355        81.14       703     48.44
ARM--2 Year/6 Month Balloon 30/40              237      63,852,102     46.59       8.377       358        79.59       622     42.64
ARM--3 Year/6 Month Balloon 30/40               19       3,365,738      2.46       8.869       358        79.60       621     42.13
ARM--2 Year/6 Month                            196      33,866,940     24.71       8.619       358        79.70       629     41.00
ARM--3 Year/6 Month                              7       1,696,459      1.24       8.028       357        79.05       614     33.58
Interest Only ARM--2 Year/6 Month--24 mo.
   IO term                                       1         221,000      0.16       6.250       358        78.93       585     21.71
Interest Only ARM--3 Year/6 Month--36 mo.
   IO term                                       1         228,000      0.17       7.475       358        80.00       666     42.37
Interest Only ARM--2 Year/6 Month--60 mo.
   IO term                                      94      28,454,261     20.76       7.568       358        81.73       652     43.10
Interest Only ARM--3 Year/6 Month--60 mo.
   IO term                                      11       2,674,888      1.95       7.659       358        78.94       650     46.46
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                         588     137,056,286    100.00       8.259       358        80.03       631     42.23
-----------------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average    Back
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------------

5.000--5.999                             1         266,038      0.19       5.925       358        80.00       707     41.63
6.000--6.999                            54      14,200,426     10.36       6.621       357        76.02       646     42.69
7.000--7.999                           195      52,426,152     38.25       7.612       358        79.76       644     42.40
8.000--8.999                           171      38,757,484     28.28       8.496       358        81.06       626     42.43
9.000--9.999                           103      22,776,662     16.62       9.488       358        81.63       621     41.94
10.000--10.999                          48       6,782,315      4.95      10.422       358        80.57       580     40.11
11.000--11.999                          14       1,599,616      1.17      11.298       357        71.04       551     41.86
12.000--12.999                           2         247,594      0.18      12.326       354       100.00       639     35.47
---------------------------------------------------------------------------------------------------------------------------
Total:                                 588     137,056,286    100.00       8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

Minimum: 5.925
Maximum: 12.400
Weighted Average: 8.259

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number       Cut-off      Cut-off     Average    Average    Average    Weighted
                            of          Date          Date       Gross    Remaining   Combined    Average    Back
Range of Cut-off Date    Mortgage     Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)    Loans      Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

1--25,000                     2           43,128       0.03     10.346       268       100.00       663     41.84
25,001--50,000                4          149,023       0.11     10.936       354        93.30       596     32.68
50,001--75,000               42        2,590,185       1.89      9.360       357        79.66       610     35.48
75,001--100,000              44        3,867,857       2.82      8.721       358        77.00       613     40.60
100,001--125,000             65        7,375,179       5.38      8.699       358        76.12       617     37.98
125,001--150,000             52        7,134,606       5.21      8.797       358        75.33       602     39.99
150,001--175,000             45        7,207,102       5.26      8.741       357        77.80       611     41.07
175,001--200,000             48        9,065,515       6.61      8.523       358        79.40       619     42.28
200,001--225,000             42        9,017,457       6.58      7.991       358        79.61       638     41.47
225,001--250,000             30        7,119,530       5.19      7.990       358        80.53       640     43.42
250,001--275,000             38       10,054,674       7.34      7.988       358        80.08       626     42.42
275,001--300,000             34        9,729,258       7.10      8.107       358        81.60       637     43.04
300,001--325,000             20        6,299,668       4.60      7.892       357        78.47       628     43.56
325,001--350,000             17        5,709,161       4.17      8.834       358        80.88       622     42.39
350,001--375,000             14        5,009,991       3.66      7.819       358        81.36       676     41.66
375,001--400,000             21        8,179,781       5.97      7.924       358        81.36       636     44.97
400,001--425,000              7        2,862,557       2.09      7.862       358        83.07       649     45.14
425,001--450,000             11        4,841,078       3.53      8.010       358        82.20       618     45.29
450,001--475,000              7        3,241,370       2.36      8.249       358        85.77       668     41.61
475,001--500,000              9        4,425,553       3.23      8.209       357        83.49       639     43.96
500,001--750,000             32       19,741,361      14.40      8.030       357        80.59       639     42.81
750,001--1,000,000            4        3,392,252       2.48      8.694       358        80.51       649     42.12
-----------------------------------------------------------------------------------------------------------------
Total:                      588      137,056,286     100.00      8.259       358        80.03       631     42.23
-----------------------------------------------------------------------------------------------------------------


Minimum: 20,684
Maximum: 988,617
Average: 233,089

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of         Date          Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)    Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

180                                  1          20,684      0.02       9.800       174       100.00      684      37.76
360                                587     137,035,602     99.98       8.258       358        80.03      631      42.23
-----------------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286    100.00       8.259       358        80.03      631      42.23
-----------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Terms (months)          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

169--180                         1          20,684       0.02      9.800       174        100.00      684     37.76
349--360                       587     137,035,602      99.98      8.258       358         80.03      631     42.23
-------------------------------------------------------------------------------------------------------------------
Total:                         588     137,056,286     100.00      8.259       358         80.03      631     42.23
-------------------------------------------------------------------------------------------------------------------


Minimum: 174
Maximum: 359
Weighted Average: 358

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

10.01--15.00                     1         149,735       0.11       6.625      358         14.63      668     40.95
20.01--25.00                     1         120,000       0.09       7.750      358         22.64      619     39.06
25.01--30.00                     1         109,872       0.08       8.725      358         25.14      605     32.38
30.01--35.00                     1         121,708       0.09      11.125      359         34.79      511     50.43
35.01--40.00                     3         421,696       0.31       8.998      357         39.26      592     35.21
40.01--45.00                     6         786,642       0.57       7.679      357         42.29      583     43.74
45.01--50.00                     7         972,270       0.71       8.152      357         47.79      597     39.79
50.01--55.00                     7       1,740,239       1.27       8.206      357         52.13      583     32.28
55.01--60.00                    13       2,352,087       1.72       8.335      358         58.35      570     39.47
60.01--65.00                    18       3,191,331       2.33       8.088      357         63.12      595     39.49
65.01--70.00                    28       5,538,373       4.04       9.057      357         68.99      566     44.80
70.01--75.00                    37       8,274,399       6.04       8.494      358         73.74      573     40.22
75.01--80.00                   306      76,851,194      56.07       8.050      358         79.87      643     42.82
80.01--85.00                    29       6,146,074       4.48       7.952      358         84.44      629     40.67
85.01--90.00                    71      18,024,038      13.15       8.489      358         89.62      641     42.01
90.01--95.00                    49      11,615,666       8.48       8.770      358         94.89      650     43.09
95.01--100.00                   10         640,962       0.47      11.498      348        100.00      660     38.05
--------------------------------------------------------------------------------------------------------------------
Total:                         588     137,056,286     100.00       8.259      358         80.03      631     42.23
--------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.03

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                22       2,696,898       1.97      8.426       353        78.95       656     41.79
5.001--5.500                     1         284,357       0.21      8.900       356        89.62       645     46.66
5.501--6.000                   108      26,813,483      19.56      8.152       358        80.48       636     42.72
6.001--6.500                   390      94,408,926      68.88      8.123       358        81.00       637     42.45
6.501--7.000                    36       7,689,099       5.61      9.169       358        73.67       582     38.45
7.001--7.500                    28       4,211,763       3.07      9.856       358        65.98       544     39.89
7.501--8.000                     2         519,510       0.38      9.676       358        76.07       529     46.00
8.501--9.000                     1         432,250       0.32      9.650       358        95.00       629     48.85
--------------------------------------------------------------------------------------------------------------------
Total:                         588     137,056,286     100.00      8.259       358        80.03       631     42.23
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.400
Maximum: 8.700
Non-Zero Weighted Average: 6.208

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                22       2,696,898       1.97       8.426      353        78.95       656     41.79
5.501--6.000                     1         266,038       0.19       5.925      358        80.00       707     41.63
6.001--6.500                    20       5,552,632       4.05       6.473      358        79.07       650     42.19
6.501--7.000                    36       8,755,658       6.39       6.806      357        75.48       638     43.07
7.001--7.500                    65      17,237,495      12.58       7.300      357        80.35       649     42.01
7.501--8.000                   129      35,070,330      25.59       7.797      358        79.63       639     42.81
8.001--8.500                    79      18,884,803      13.78       8.278      358        81.17       642     42.69
8.501--9.000                    85      18,473,608      13.48       8.771      358        80.89       612     41.29
9.001--9.500                    48      12,360,912       9.02       9.279      358        81.82       636     42.09
9.501--10.000                   50      10,174,912       7.42       9.771      358        81.01       598     42.03
10.001 -10.500                  24       3,807,127       2.78      10.253      358        78.67       572     42.34
10.501--11.000                  19       2,428,556       1.77      10.749      358        84.49       603     37.70
11.001--11.500                   9       1,281,839       0.94      11.241      357        65.16       537     42.71
11.501--12.000                   1          65,480       0.05      11.625      359        79.88       520     43.19
-------------------------------------------------------------------------------------------------------------------
Total:                         588     137,056,286     100.00       8.259      358        80.03       631     42.23
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.925
Maximum: 11.625
Non-Zero Weighted Average: 8.249

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                22       2,696,898       1.97       8.426      353        78.95       656     41.79
12.501--13.000                   2         506,038       0.37       6.364      358        78.78       673     41.45
13.001--13.500                  17       5,259,478       3.84       6.353      358        79.02       652     42.23
13.501--14.000                  36       8,793,276       6.42       6.840      357        75.87       638     42.86
14.001--14.500                  65      17,441,994      12.73       7.299      357        80.59       649     42.02
14.501--15.000                 128      34,792,712      25.39       7.796      358        79.55       639     42.87
15.001--15.500                  79      18,772,250      13.70       8.279      358        80.97       642     42.61
15.501--16.000                  86      18,559,115      13.54       8.772      358        80.89       612     41.32
16.001--16.500                  49      12,556,742       9.16       9.291      358        81.79       637     42.19
16.501--17.000                  51      10,230,777       7.46       9.770      358        81.01       598     42.06
17.001--17.500                  23       3,611,298       2.63      10.261      358        78.59       568     42.01
17.501--18.000                  20       2,488,392       1.82      10.748      358        84.26       601     37.99
18.001--18.500                   9       1,281,839       0.94      11.241      357        65.16       537     42.71
18.501--19.000                   1          65,480       0.05      11.625      359        79.88       520     43.19
-------------------------------------------------------------------------------------------------------------------
Total:                         588     137,056,286     100.00       8.259      358        80.03       631     42.23
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.850
Maximum: 18.625
Non-Zero Weighted Average: 15.248

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                22      2,696,898       1.97      8.426       353        78.95       656     41.79
1.000                            4        977,783       0.71      8.117       357        86.17       632     41.66
1.500                          130     29,668,287      21.65      8.342       356        79.87       622     43.15
2.000                          432    103,713,319      75.67      8.232       358        80.04       633     41.98
------------------------------------------------------------------------------------------------------------------
Total:                         588    137,056,286     100.00      8.259       358        80.03       631     42.23
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.882

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  22       2,696,898       1.97      8.426       353        78.95       656     41.79
1.000                              4         977,783       0.71      8.117       357        86.17       632     41.66
1.500                            562     133,381,606      97.32      8.256       358        80.00       631     42.24
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.496

NEXT RATE ADJUSTMENT DATES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  22       2,696,898       1.97      8.426       353        78.95       656     41.79
February 2008                      6       1,177,684       0.86      7.725       353        79.75       625     45.35
March 2008                         9       2,218,699       1.62      7.836       354        76.08       623     42.00
April 2008                        31       8,296,008       6.05      8.075       355        76.85       619     43.90
May 2008                          15       2,330,415       1.70      8.520       356        86.29       617     40.95
June 2008                         44      12,095,779       8.83      8.538       357        78.88       631     42.93
July 2008                        330      81,033,468      59.12      8.225       358        80.32       635     42.09
August 2008                       93      19,242,250      14.04      8.336       359        81.06       621     41.88
March 2009                         1         190,969       0.14      8.600       354        85.00       582     43.04
April 2009                         2         678,062       0.49      8.563       355        88.94       587     25.75
July 2009                         33       6,886,797       5.02      8.232       358        78.33       637     43.36
August 2009                        2         209,257       0.15      7.273       359        73.71       606     40.30
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
 Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

California                       151      53,013,198      38.68      8.046       358       79.25        643     42.83
Florida                           69      14,880,067      10.86      8.447       358       79.62        619     41.02
Massachusetts                     25       5,847,510       4.27      8.291       357       82.31        621     45.00
Nevada                            20       4,537,044       3.31      7.714       358       79.65        634     44.67
New Jersey                        15       4,527,746       3.30      8.686       358       80.37        603     40.50
Hawaii                            11       4,358,622       3.18      8.279       358       79.66        673     44.24
Texas                             37       4,258,869       3.11      8.707       357       79.83        625     39.29
Illinois                          22       4,166,225       3.04      8.555       358       84.78        630     44.01
Maryland                          13       3,293,696       2.40      8.101       358       80.79        590     44.22
Arizona                           16       3,173,236       2.32      8.413       357       76.56        606     43.85
New York                          12       3,156,612       2.30      7.634       357       77.56        660     44.12
Pennsylvania                      18       2,901,693       2.12      7.908       358       81.75        657     38.62
Virginia                          14       2,863,687       2.09      8.232       358       80.95        617     39.48
Georgia                           16       2,711,819       1.98      8.565       357       82.45        625     39.59
Oregon                            13       2,345,175       1.71      8.046       358       76.93        616     41.27
Other                            136      21,021,086      15.34      8.655       358       81.27        618     40.95
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358       80.03        631     42.23
---------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 47

OCCUPANCY



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Occupancy              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Primary                          504     119,563,235      87.24      8.121       358        79.76       629     42.39
Investment                        55       9,681,409       7.06      9.547       358        81.59       637     38.88
Second Home                       29       7,811,641       5.70      8.767       357        82.17       658     43.83
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Property Type            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Single Family Residence          443      97,095,126      70.84      8.255       358        79.79       626     42.25
Planned Unit Development          64      17,352,738      12.66      8.186       358        80.63       641     43.01
Condo                             51      14,241,761      10.39      8.277       358        81.13       656     41.74
2-4 Family                        30       8,366,661       6.10      8.422       357        79.62       630     41.18
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Loan Purpose            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Purchase                         272      65,970,544      48.13      8.098       358        81.60       659     42.83
Refinance--Cashout               284      64,084,321      46.76      8.429       358        78.61       603     41.86
Refinance--Rate Term              32       7,001,421       5.11      8.205       358        78.16       628     39.97
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Documentation Level         Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Full Documentation               327      69,548,585      50.74      7.906       358        79.98       617     42.00
Stated Documentation             255      65,895,089      48.08      8.640       358        80.04       646     42.62
Limited Documentation              6       1,612,612       1.18      7.873       358        81.52       603     35.69
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Credit Score             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

500--524                          42       6,417,713       4.68      9.825       358        71.21       512     41.80
525--549                          40       7,156,714       5.22      9.011       358        70.36       536     40.06
550--574                          27       7,319,419       5.34      8.710       358        74.24       561     42.28
575--599                          54      10,352,864       7.55      8.395       357        74.22       588     40.09
600--624                         144      34,164,247      24.93      8.060       357        81.80       612     43.06
625--649                         107      27,252,954      19.88      8.138       358        83.47       636     42.13
650--674                          65      16,839,539      12.29      7.974       358        81.76       659     43.02
675--699                          41      10,199,744       7.44      8.122       357        81.01       687     42.08
700--724                          26       6,212,335       4.53      7.940       358        82.24       712     40.90
725--749                          22       5,901,610       4.31      8.333       358        81.94       735     44.57
750--774                          10       2,867,626       2.09      8.028       358        83.21       765     41.62
775--799                           9       2,252,762       1.64      7.546       358        79.85       786     41.39
800 +                              1         118,759       0.09      7.375       359        90.00       814     48.38
---------------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631     42.23
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 631

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                              % of
                                            Mortgage
                                            Pool by      Weighted    Weighted   Weighted
                 Number      Aggregate     Aggregate      Average    Average     Average   Weighted
                   of      Cut-off Date   Cut-off Date     Gross    Remaining   Combined    Average    Back
 Prepayment     Mortgage     Principal     Principal     Interest      Term     Original     FICO      DTI
Penalty Term     Loans      Balance ($)     Balance       Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------

0                  160       39,819,205       29.05        8.695       358        81.67       636     42.49
12                  22        5,069,011        3.70        8.227       358        80.03       657     44.04
24                 373       85,804,593       62.61        8.073       358        79.46       627     42.13
36                  33        6,363,478        4.64        8.051       357        77.48       634     40.48
-----------------------------------------------------------------------------------------------------------
Total:             588      137,056,286      100.00        8.259       358        80.03       631     42.23
-----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 24

LIEN POSITION



                                               % of
                                             Mortgage
                                             Pool by     Weighted    Weighted   Weighted
                 Number      Aggregate      Aggregate     Average    Average     Average   Weighted
                   of      Cut-off Date   Cut-off Date    Gross     Remaining   Combined   Average     Back
     Lien       Mortgage     Principal      Principal    Interest      Term     Original     FICO      DTI
   Position       Loans     Balance ($)      Balance      Rate(%)    (months)      LTV      Score     Ratio
-----------------------------------------------------------------------------------------------------------

1st Lien           578      136,415,324       99.53        8.243       358        79.93       631     42.25
2nd Lien            10          640,962        0.47       11.498       348       100.00       660     38.05
-----------------------------------------------------------------------------------------------------------
Total:             588      137,056,286      100.00        8.259       358        80.03       631     42.23
-----------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                              % of
                                            Mortgage
                                            Pool by      Weighted    Weighted   Weighted
                 Number     Aggregate      Aggregate      Average    Average     Average   Weighted
                   of      Cut-off Date   Cut-off Date     Gross    Remaining   Combined    Average    Back
Interest Only   Mortgage    Principal      Principal     Interest      Term     Original     FICO      DTI
    Term          Loans     Balance ($)     Balance       Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------

0                  481      105,478,137       76.96        8.466       358       79.60        625     41.93
24                   1          221,000        0.16        6.250       358       78.93        585     21.71
36                   1          228,000        0.17        7.475       358       80.00        666     42.37
60                 105       31,129,149       22.71        7.576       358       81.49        652     43.40
-----------------------------------------------------------------------------------------------------------
Total:             588      137,056,286      100.00        8.259       358       80.03        631     42.23
-----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET--NEW CENTURY                                     588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

TOP 5 ZIP CODE CONCENTRATIONS



                                               % of
                                             Mortgage
                                             Pool by      Weighted   Weighted    Weighted
                  Number      Aggregate     Aggregate      Average    Average    Average    Weighted
  Top 5 Zip         of      Cut-off Date   Cut-off Date     Gross    Remaining   Combined    Average    Back
    Code         Mortgage     Principal     Principal     Interest     Term      Original     FICO      DTI
Concentrations    Loans      Balance ($)     Balance       Rate(%)   (months)      LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

90027                 2        1,261,276        0.92        7.100       358        80.00       626     51.59
95023                 2        1,027,620        0.75        8.109       358        85.65       616     43.36
07656                 1          988,617        0.72        7.625       358        74.95       628     35.63
90745                 2          891,000        0.65        7.300       358        83.38       734     32.53
94107                 1          849,622        0.62        8.875       358        78.70       620     36.94
Other               580      132,038,152       96.34        8.278       358        80.01       631     42.28
------------------------------------------------------------------------------------------------------------
Total:              588      137,056,286      100.00        8.259       358        80.03       631     42.23
------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                               % of
                                             Mortgage
                                              Pool by     Weighted    Weighted   Weighted
                  Number     Aggregate       Aggregate    Average     Average     Average   Weighted
                    of      Cut-off Date   Cut-off Date    Gross     Remaining   Combined    Average    Back
  Top 5 City     Mortgage    Principal       Principal    Interest      Term     Original     FICO      DTI
Concentrations     Loans    Balance ($)       Balance     Rate(%)     (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------- -------------------

Los Angeles          12        5,076,264        3.70        7.753       358        72.42       628     40.68
Las Vegas            15        3,674,788        2.68        7.761       358        79.67       637     45.77
San Diego             7        2,314,540        1.69        8.151       358        74.19       659     42.07
Miami                 7        1,839,454        1.34        7.989       358        79.87       637     44.97
San Francisco         2        1,429,377        1.04        8.946       358        79.23       648     40.05
Other               545      122,721,864       89.54        8.292       358        80.48       630     42.17
------------------------------------------------------------------------------------------------------------
Total:              588      137,056,286      100.00        8.259       358        80.03       631     42.23
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average    Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------

Accredited             519    101,528,933      12.16      8.489       356        77.27       621     41.90
Chapel                  19      3,993,794       0.48      7.759       349        77.17       617     44.49
Encore                 319     81,834,599       9.80      8.270       355        78.88       628     42.77
First Banc              68     12,579,754       1.51      8.293       341        79.62       615     42.62
First Horizon          201     32,183,570       3.85      9.156       357        84.05       623     40.28
First NLC            1,845    325,712,321      39.01      8.498       348        80.80       626     43.55
Flex Point              21      4,867,974       0.58      8.896       356        70.12       598     42.96
Funding America         49      5,970,602       0.72      8.789       350        81.43       631     41.04
Lenders Direct          50      8,763,158       1.05      8.485       328        80.22       624     43.75
Lime Financial          58     12,714,290       1.52      8.393       342        84.47       640     43.84
Mandalay                34      5,413,209       0.65      8.633       305        85.28       667     45.24
Master Financial       212     49,777,061       5.96      8.506       335        83.97       638     42.07
Maxim                   15      1,747,337       0.21      9.151       336        84.37       600     39.18
New Century            588    137,056,286      16.42      8.259       358        80.03       631     42.23
Quick Loan              33      8,487,809       1.02      8.186       356        72.46       588     42.28
Rose Mortgage          176     42,303,604       5.07      8.536       356        77.92       613     43.01
----------------------------------------------------------------------------------------------------------
Total:               4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                        % of
                                                                      Mortgage
                                                                      Pool by    Weighted
                                                                     Aggregate    Average   Weighted    Weighted
                                             Number     Aggregate     Cut-off     Cut-off    Average     Average   Weighted
                                               of          Date         Date       Gross    Remaining   Combined    Average    Back
                                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
           Product with IO term               Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                                    7        496,311       0.06      8.252       117        64.85       631     41.82
Fixed--15 Year                                   23      1,940,686       0.23      8.448       177        69.52       634     39.55
Fixed--20 Year                                   24      1,990,559       0.24      8.449       237        75.91       634     42.81
Fixed--25 Year                                    3        245,515       0.03      8.559       298        84.90       622     41.39
Fixed--30 Year                                  489     62,069,627       7.43      8.684       357        78.47       620     40.85
Balloon--15/30                                  354     23,914,670       2.86     11.437       176        99.11       657     43.93
Balloon--30/40                                   67     14,725,319       1.76      7.933       357        78.80       627     42.76
ARM--2 Year/6 Month Balloon 30/40               789    213,147,286      25.53      8.242       357        80.12       626     43.39
ARM--2 Year/6 Month Balloon 30/50                 1        203,935       0.02      8.450       357        80.00       625     51.37
ARM--3 Year/6 Month Balloon 30/40               211     44,732,369       5.36      8.383       357        80.00       616     43.87
ARM--1 Year/6 Month                               2        542,838       0.07      7.742       352        84.95       602     47.25
ARM--2 Year/6 Month                           1,203    227,698,738      27.27      8.687       357        79.02       614     42.07
ARM--3 Year/6 Month                             488     77,786,208       9.32      8.903       357        78.83       592     42.71
ARM--5 Year/6 Month                              12      1,990,884       0.24      8.472       357        76.09       631     42.15
Dual Amort--10/40--2 Year/6 Month                 3        941,351       0.11      7.192       352        75.59       631     49.84
Interest Only ARM--2 Year/6 Month--24 mo.
IO term                                           2        431,400       0.05      7.225       358        79.45       606     29.07
Interest Only ARM--3 Year/6 Month--36 mo.
IO term                                           3        639,500       0.08      7.938       358        77.28       631     39.93
Interest Only Fixed--30 Year--60 mo.
IO term                                          14      4,480,985       0.54      7.527       357        77.12       657     42.09
Interest Only ARM--2 Year/6 Month--60 mo.
IO term                                         421    132,088,152      15.82      7.780       356        80.77       658     43.38
Interest Only ARM--3 Year/6 Month--60 mo.
IO term                                          81     22,362,444       2.68      7.772       357        80.65       666     43.30
Interest Only ARM--5 Year/6 Month--60 mo.
IO term                                           5      1,418,400       0.17      6.921       358        76.10       686     42.26
Interest Only Fixed--30 Year--120 mo.
IO term                                           1        331,000       0.04      6.750       357        79.95       638     37.02
Interest Only ARM--2 Year/6 Month--120 mo.
IO term                                           1        186,686       0.02      8.000       358        80.00       641     46.89
Interest Only ARM--3 Year/6 Month--120 mo.
IO term                                           1         92,000       0.01      7.250       359        80.00       652     44.60
Interest Only ARM--5 Year/6 Month--120 mo.
IO term                                           2        477,439       0.06      8.188       357        83.29       646     44.81
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                        4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-----------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Gross Interest   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Rates (%)           Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

5.000--5.999                    4      1,142,614       0.14      5.897       356        68.44       662     44.12
6.000--6.999                  260     68,694,226       8.23      6.728       355        75.82       660     43.16
7.000--7.999                1,139    288,353,399      34.54      7.616       356        78.95       646     42.74
8.000--8.999                1,232    256,222,317      30.69      8.530       356        79.63       620     42.59
9.000--9.999                  809    144,431,178      17.30      9.514       355        81.43       595     43.12
10.000--10.999                388     47,407,285       5.68     10.501       333        85.15       588     42.27
11.000--11.999                236     20,330,593       2.43     11.514       258        89.99       612     42.99
12.000--12.999                100      6,606,772       0.79     12.431       244        97.81       633     43.76
13.000--13.999                 37      1,637,585       0.20     13.410       219        99.71       628     43.33
14.000--14.999                  2        108,333       0.01     14.151       257       100.00       637     47.49
-----------------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-----------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                  Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Cut-off Date    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------

1--25,000                     31        673,662       0.08     11.023       269        99.81       650     44.15
25,001--50,000               217      8,609,762       1.03     11.184       254        93.39       633     40.07
50,001--75,000               368     23,374,011       2.80     10.133       297        85.80       619     39.96
75,001--100,000              411     36,041,776       4.32      9.306       326        82.48       613     40.08
100,001--125,000             446     50,423,050       6.04      9.043       339        79.89       607     40.70
125,001--150,000             401     55,346,959       6.63      8.770       351        78.26       608     41.57
150,001--175,000             353     57,212,084       6.85      8.643       353        77.83       611     42.15
175,001--200,000             344     64,684,246       7.75      8.466       356        78.47       617     43.03
200,001--225,000             279     59,356,344       7.11      8.352       357        79.43       626     43.08
225,001--250,000             241     57,191,618       6.85      8.343       357        78.87       620     44.00
250,001--275,000             183     47,999,943       5.75      8.193       357        79.91       619     42.99
275,001--300,000             163     46,951,780       5.62      8.179       356        79.05       623     43.66
300,001--325,000             131     40,901,155       4.90      8.122       357        79.24       626     44.47
325,001--350,000             109     36,783,058       4.41      8.248       357        80.75       631     43.13
350,001--375,000              78     28,168,660       3.37      8.110       357        79.36       649     43.25
375,001--400,000              86     33,483,287       4.01      8.081       357        80.31       644     43.85
400,001--425,000              68     28,047,213       3.36      8.098       356        81.41       636     44.27
425,001--450,000              54     23,720,988       2.84      7.982       357        80.96       629     43.62
450,001--475,000              39     18,005,723       2.16      8.065       357        80.86       652     42.95
475,001--500,000              58     28,411,352       3.40      8.033       356        80.58       644     44.41
500,001--750,000             137     80,985,039       9.70      8.117       357        81.54       646     42.77
750,001--1,000,000            10      8,562,593       1.03      8.240       356        82.32       670     43.16
----------------------------------------------------------------------------------------------------------------
Total:                     4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

120                                   7        496,311       0.06      8.252       117        64.85       631     41.82
180                                 377     25,855,356       3.10     11.213       176        96.89       656     43.63
240                                  24      1,990,559       0.24      8.449       237        75.91       634     42.81
300                                   3        245,515       0.03      8.559       298        84.90       622     41.39
360                               3,796    806,346,560      96.58      8.370       357        79.61       625     42.76
-----------------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-----------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
           (months)                Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

109--120                                7        496,311       0.06      8.252       117        64.85       631     41.82
169--180                              377     25,855,356       3.10     11.213       176        96.89       656     43.63
229--240                               24      1,990,559       0.24      8.449       237        75.91       634     42.81
289--300                                3        245,515       0.03      8.559       298        84.90       622     41.39
337--348                                1         73,261       0.01     10.240       348        99.97       615     32.30
349--360                            3,795    806,273,299      96.57      8.370       357        79.61       625     42.76
-------------------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-------------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
          Ratios (%)              Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------------

10.01--15.00                           1        149,735       0.02      6.625       358        14.63       668     40.95
15.01--20.00                           4        430,264       0.05      8.793       356        18.12       550     39.23
20.01--25.00                           7      1,072,051       0.13      7.404       327        23.60       599     40.19
25.01--30.00                           7        789,898       0.09      7.722       328        27.12       614     43.67
30.01--35.00                           8      1,258,495       0.15      7.747       358        32.73       636     45.78
35.01--40.00                          19      3,272,611       0.39      8.493       357        38.59       594     40.35
40.01--45.00                          39      6,037,573       0.72      8.033       354        42.50       587     39.18
45.01--50.00                          48      7,555,973       0.90      8.191       357        47.94       602     38.86
50.01--55.00                          53      9,792,664       1.17      8.349       350        52.87       581     40.96
55.01--60.00                          72     11,824,393       1.42      7.977       350        57.94       593     41.92
60.01--65.00                         122     23,050,855       2.76      8.603       355        63.37       574     40.86
65.01--70.00                         192     37,536,122       4.50      8.710       356        68.87       581     42.02
70.01--75.00                         288     60,082,262       7.20      8.471       354        73.95       580     42.35
75.01--80.00                       1,759    408,554,737      48.93      8.082       357        79.84       643     43.26
80.01--85.00                         437     87,800,198      10.52      8.668       356        84.51       606     42.14
85.01--90.00                         449     98,133,687      11.75      8.684       356        89.55       627     43.00
90.01--95.00                         194     39,254,353       4.70      8.969       355        94.65       643     42.79
95.01--100.00                        508     38,338,430       4.59     10.898       248        99.87       652     43.50
------------------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 982    110,194,672      13.20      9.118       311        82.69       631     41.85
<= 3.500                          24      5,254,841       0.63      7.546       357        75.52       655     42.97
3.501--4.000                      18      4,504,815       0.54      7.217       357        79.02       671     44.19
4.001--4.500                      36      9,094,630       1.09      7.637       358        77.15       646     42.14
4.501--5.000                     116     30,291,468       3.63      8.038       357        79.70       650     41.88
5.001--5.500                     344     95,334,837      11.42      8.176       356        80.87       638     43.04
5.501--6.000                     576    122,740,938      14.70      8.386       357        79.77       622     42.83
6.001--6.500                     724    167,240,991      20.03      8.150       357        80.74       633     42.38
6.501--7.000                     459    103,652,115      12.41      8.366       357        77.75       617     42.61
7.001--7.500                     788    150,498,041      18.03      8.672       357        79.37       613     43.71
7.501--8.000                      86     21,804,371       2.61      8.951       357        79.99       613     43.62
8.001--8.500                      41     11,563,246       1.38      9.203       356        80.07       585     43.77
8.501--9.000                       8      2,094,826       0.25      9.457       357        91.91       635     47.62
9.001--9.500                       4        608,535       0.07     10.003       357        81.06       607     49.40
9.501--10.000                      1         55,974       0.01     12.999       358        80.00       593     42.33
--------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.361

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of         Date         Date        Gross    Remaining   Combined    Average   Back
 Range of Minimum    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Mortgage Rates (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans         982    110,194,672      13.20      9.118       311        82.69       631     41.85
5.501--6.000              11      3,539,485       0.42      7.012       354        77.92       655     42.51
6.001--6.500              48     13,346,398       1.60      6.478       357        77.24       653     42.29
6.501--7.000             178     47,361,242       5.67      6.864       356        77.63       653     43.81
7.001--7.500             339     89,903,723      10.77      7.318       357        78.90       653     42.42
7.501--8.000             672    172,884,806      20.71      7.815       357        79.31       642     43.23
8.001--8.500             468    110,806,183      13.27      8.288       357        80.04       631     42.76
8.501--9.000             568    118,049,761      14.14      8.798       357        79.54       612     42.72
9.001--9.500             323     66,980,184       8.02      9.289       357        81.07       607     43.27
9.501--10.000            335     60,876,415       7.29      9.794       357        81.25       579     43.37
10.001 -10.500           134     20,121,968       2.41     10.291       357        83.25       573     42.89
10.501--11.000           104     14,825,160       1.78     10.774       357        83.34       574     41.26
11.001--11.500            25      3,609,194       0.43     11.207       357        72.33       548     39.21
11.501--12.000            10      1,308,419       0.16     11.772       358        74.81       535     39.31
12.001--12.500             4        596,608       0.07     12.107       355        86.35       598     41.67
12.501--13.000             6        530,084       0.06     12.838       358        90.78       654     39.35
------------------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.349

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average    Back
 Range of Maximum    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Mortgage Rates (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans         982    110,194,672      13.20      9.118       311        82.69       631     41.85
<= 12.500                 54     17,265,869       2.07      6.913       356        76.07       648     43.68
12.501--13.000            84     23,768,286       2.85      7.531       356        80.70       643     42.87
13.001--13.500           104     29,105,055       3.49      7.372       357        79.07       641     42.84
13.501--14.000           250     64,577,386       7.73      7.435       357        77.48       638     43.69
14.001--14.500           346     90,057,163      10.79      7.562       357        79.18       650     42.43
14.501--15.000           619    154,283,391      18.48      7.944       357        79.26       640     43.13
15.001--15.500           430     98,102,008      11.75      8.415       357        80.11       628     42.56
15.501--16.000           519    104,486,319      12.51      8.868       357        79.87       610     42.75
16.001--16.500           280     56,049,693       6.71      9.320       357        81.65       610     43.28
16.501--17.000           296     52,923,224       6.34      9.824       357        81.01       576     43.52
17.001--17.500           115     17,008,201       2.04     10.313       357        82.49       567     42.88
17.501--18.000            92     12,477,295       1.49     10.838       357        83.97       572     40.53
18.001--18.500            21      2,692,761       0.32     11.216       357        76.37       546     40.41
18.501--19.000             5        521,670       0.06     11.794       358        90.79       563     41.85
19.001--19.500             4        596,608       0.07     12.107       355        86.35       598     41.67
19.501--20.000             5        479,972       0.06     12.870       358        91.39       666     39.57
23.501--24.000             1        344,727       0.04      8.350       356        80.00       596     39.16
------------------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date         Date        Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               982    110,194,672      13.20      9.118       311        82.69       631     41.85
1.000                            4        977,783       0.12      8.117       357        86.17       632     41.66
1.500                          536    113,700,175      13.62      8.478       357        78.71       621     42.35
2.000                          759    191,102,926      22.89      8.244       357        79.43       630     42.28
3.000                        1,922    418,202,620      50.09      8.379       357        80.14       624     43.38
5.000                            2        477,439       0.06      8.188       357        83.29       646     44.81
6.000                            2        278,686       0.03      7.752       358        80.00       645     46.13
------------------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.501

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  982    110,194,672      13.20      9.118       311        82.69       631     41.85
1.000                             929    226,572,420      27.14      8.360       356        80.12       624     42.55
1.500                           2,280    493,139,917      59.06      8.360       357        79.62       626     43.08
2.000                              16      5,027,292       0.60      8.097       352        74.50       646     44.37
---------------------------------------------------------------------------------------------------------------------
Total:                          4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.347

NEXT RATE ADJUSTMENT DATES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 982    110,194,672      13.20      9.118       311        82.69       631     41.85
January 2007                       2        542,838       0.07      7.742       352        84.95       602     47.25
October 2007                       1        148,392       0.02      7.715       349        80.00       688     41.18
November 2007                     12      3,494,254       0.42      7.277       350        79.98       671     44.24
December 2007                     26      6,584,989       0.79      7.927       351        77.50       634     42.82
January 2008                      40      8,436,065       1.01      8.076       352        78.89       616     43.70
February 2008                     56     14,549,041       1.74      8.065       353        81.10       632     43.46
March 2008                        72     16,774,090       2.01      8.271       354        80.07       619     41.62
April 2008                       153     39,062,976       4.68      8.217       355        79.87       627     42.90
May 2008                         382     98,158,578      11.76      8.269       356        79.57       628     42.40
June 2008                        601    145,622,579      17.44      8.365       357        79.81       627     43.67
July 2008                        927    210,101,065      25.16      8.349       358        79.87       631     42.69
August 2008                      148     31,223,519       3.74      8.422       359        80.42       622     41.82
September 2008                     2        542,000       0.06      8.514       360        75.23       609     44.86
November 2008                      1        343,599       0.04      7.350       350        79.45       609     43.37
December 2008                      1        620,450       0.07      8.750       351        80.00       629     47.27
January 2009                       3        449,585       0.05      8.433       352        82.12       617     32.31
February 2009                      2        183,816       0.02      8.781       354        90.00       650     36.47
March 2009                         7      1,231,055       0.15      8.473       354        81.84       581     41.17
April 2009                        20      3,882,529       0.47      8.820       355        80.86       583     40.62
May 2009                          66     13,235,533       1.59      8.445       356        79.05       618     43.53
June 2009                        285     51,260,009       6.14      8.601       357        79.96       603     43.56
July 2009                        379     70,994,603       8.50      8.550       358        79.19       618     43.15
August 2009                       20      3,411,339       0.41      8.606       359        75.77       600     39.86
March 2011                         1        163,942       0.02      6.950       354        55.00       686     39.68
April 2011                         2        750,831       0.09      8.819       355        76.48       578     42.63
May 2011                           1        125,744       0.02      9.400       356        86.90       605     44.39
June 2011                          4        794,402       0.10      8.340       357        84.54       678     45.31
July 2011                          7      1,607,840       0.19      6.997       358        73.88       663     42.04
August 2011                        4        443,963       0.05      8.500       359        80.83       699     39.91
--------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Mortgaged Properties       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                       915    271,051,190      32.46      8.166       347        80.11       641     43.43
Florida                          666    119,157,019      14.27      8.545       350        79.54       622     42.90
Illinois                         323     57,253,943       6.86      8.729       351        81.62       622     43.86
New York                         139     41,732,227       5.00      8.075       356        76.69       650     42.92
Arizona                          175     31,983,040       3.83      8.512       353        78.87       612     42.12
Texas                            267     26,645,529       3.19      8.714       343        81.65       615     40.49
Maryland                         115     25,717,947       3.08      8.335       356        78.32       613     41.93
New Jersey                        78     20,673,940       2.48      8.901       357        77.01       607     43.48
Massachusetts                     90     20,615,447       2.47      8.671       355        81.80       617     44.17
Nevada                            93     19,876,786       2.38      8.152       350        81.56       636     43.93
Virginia                          99     17,526,643       2.10      8.716       353        78.29       608     43.44
Washington                        87     16,283,977       1.95      8.239       351        80.51       606     42.60
Pennsylvania                     125     15,389,417       1.84      8.798       355        81.23       608     40.06
Rhode Island                      74     15,231,725       1.82      8.545       357        79.23       617     42.97
Connecticut                       74     14,903,474       1.78      8.554       356        78.40       616     44.29
Other                            887    120,891,996      14.48      8.852       354        82.05       613     41.06
--------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date       Gross    Remaining   Combined    Average    Back
              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Occupancy      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------

Primary         3,860    772,614,335      92.54      8.414       350        79.97       624     42.96
Investment        294     49,653,254       5.95      9.026       356        81.90       652     39.87
Second Home        53     12,666,712       1.52      8.902       356        82.77       652     43.72
-----------------------------------------------------------------------------------------------------
Total:          4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-----------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Property Type          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Single Family Residence      3,421    651,774,116      78.06      8.460       351        80.29       622     42.86
2-4 Family                     300     78,056,397       9.35      8.502       352        78.31       645     42.95
Planned Unit Development       216     53,080,620       6.36      8.308       352        80.00       628     41.86
Condo                          270     52,023,168       6.23      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average    Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Loan Purpose         Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------

Refinance--Cashout       2,110    437,916,030      52.45      8.465       355        77.84       603     42.40
Purchase                 1,871    357,138,841      42.77      8.464       346        82.85       656     43.36
Refinance--Rate Term       226     39,879,430       4.78      8.331       352        80.94       614     41.84
--------------------------------------------------------------------------------------------------------------
Total:                   4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
--------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average    Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Documentation Level       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------

Stated Documentation      2,137    456,501,438      54.68      8.630       350        80.07       641     43.49
Full Documentation        1,897    342,451,104      41.02      8.246       353        80.02       607     42.19
Limited Documentation       173     35,981,758       4.31      8.300       347        81.92       619     39.66
---------------------------------------------------------------------------------------------------------------
Total:                    4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
---------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average    Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------

500--524            279    46,441,483       5.56      9.545       356        71.85       512     42.66
525--549            314    53,891,969       6.45      9.290       357        73.26       537     41.82
550--574            349    62,693,438       7.51      8.943       357        77.64       562     42.39
575--599            457    85,015,577      10.18      8.664       354        80.25       588     42.59
600--624            736   149,312,831      17.88      8.344       351        81.30       613     42.50
625--649            818   160,006,052      19.16      8.336       348        81.71       636     43.03
650--674            549   117,558,718      14.08      8.166       348        81.69       661     43.52
675--699            336    75,361,493       9.03      8.038       347        81.41       686     43.01
700--724            169    38,491,751       4.61      7.991       347        82.65       710     42.74
725--749            106    22,546,021       2.70      8.079       352        83.03       735     43.07
750--774             60    14,673,824       1.76      7.960       351        81.70       760     42.32
775--799             28     7,965,284       0.95      7.705       345        80.53       783     42.76
800 +                6        975,860       0.12      7.833       323        86.00       807     45.68
------------------------------------------------------------------------------------------------------
Total:           4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                           1,199    216,979,403      25.99      8.805       351        80.89       624     42.82
6                              15      3,489,711       0.42      8.529       357        77.65       639     43.09
12                            237     68,168,035       8.16      8.285       354        78.59       646     42.90
24                          1,682    372,728,763      44.64      8.235       353        80.10       628     42.87
30                              7      1,406,947       0.17      9.452       357        82.36       609     46.23
36                          1,007    164,152,599      19.66      8.550       344        80.08       619     42.54
48                              1        145,964       0.02      8.500       359        36.50       529     43.94
60                             59      7,862,880       0.94      8.849       353        76.52       580     41.38
-----------------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
              of          Date         Date       Gross    Remaining   Combined    Average    Back
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------

1st Lien     3,747    805,760,512      96.51      8.349       356        79.43       625     42.75
2nd Lien       460     29,173,789       3.49     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------
Total:       4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
--------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------

0                      3,676    672,426,295      80.54      8.626       349        80.02       618     42.67
24                         2        431,400       0.05      7.225       358        79.45       606     29.07
36                         3        639,500       0.08      7.938       358        77.28       631     39.93
60                       521    160,349,981      19.21      7.764       357        80.61       659     43.32
120                        5      1,087,125       0.13      7.638       357        81.43       643     41.93
------------------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET AGGREGATE                                      4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

TOP 5 ZIP CODE CONCENTRATIONS




                                                           % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off       Cut-off    Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 Zip Code Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------


92509                                10      3,070,691       0.37      7.670       353        79.79       654     41.15
92880                                 5      2,647,581       0.32      8.488       357        85.00       638     37.19
90011                                 7      2,517,424       0.30      9.015       348        80.85       596     43.78
90044                                 6      2,479,037       0.30      7.346       356        81.12       702     44.10
90650                                 8      2,292,199       0.27      8.116       342        76.02       632     38.88
Other                             4,171    821,927,370      98.44      8.464       351        80.12       626     42.81
-----------------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-----------------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS




                                                       % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off       Cut-off    Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Los Angeles                      61     23,310,338       2.79      8.052       350        78.09       645     42.04
Chicago                         103     19,614,507       2.35      8.672       351        79.96       629     43.29
Miami                            87     16,759,565       2.01      8.411       345        78.07       626     45.16
Las Vegas                        73     15,177,706       1.82      8.187       348        81.22       639     43.71
Phoenix                          67     10,435,216       1.25      8.287       352        78.59       628     43.64
Other                         3,816    749,636,969      89.78      8.474       351        80.24       625     42.71
-------------------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00      8.458       351        80.13       626     42.79
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     12



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

ORIGINATOR



                                              % of
                                            Mortgage
                                            Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                      of         Date          Date       Gross    Remaining   Combined    Average    Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------

Accredited             331     60,041,475     13.71       8.697       356        75.62       592     41.07
Chapel                   9      1,618,716      0.37       7.958       352        72.42       562     42.21
Encore                 216     52,346,067     11.95       8.225       356        77.57       613     42.39
First Banc              24      4,858,047      1.11       8.483       351        75.02       571     43.78
First Horizon           74     13,337,243      3.05       8.886       356        80.25       616     40.89
First NLC              861    163,039,232     37.23       8.464       354        78.75       603     42.88
Flex Point              17      4,152,923      0.95       8.939       356        67.89       590     43.05
Funding America         10      1,686,505      0.39       8.637       355        73.68       595     39.87
Lenders Direct          22      4,866,621      1.11       8.267       338        76.20       600     44.05
Lime Financial          13      3,422,083      0.78       8.591       350        86.88       629     44.79
Mandalay                 9      2,034,185      0.46       7.965       346        79.29       626     43.27
Master Financial        66     19,360,495      4.42       8.206       351        80.71       610     42.95
Maxim                    3        830,664      0.19       8.592       357        81.15       583     38.11
New Century            284     64,084,321     14.63       8.429       358        78.61       603     41.86
Quick Loan              33      8,487,809      1.94       8.186       356        72.46       588     42.28
Rose Mortgage          138     33,749,644      7.71       8.552       356        76.40       605     43.23
----------------------------------------------------------------------------------------------------------
Total:               2,110    437,916,030    100.00       8.465       355        77.84       603     42.40
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                        % of
                                                                      Mortgage
                                                                      Pool by
                                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                               of         Date          Date       Gross    Remaining   Combined   Average    Back
                                            Mortgage    Principal    Principal   Interest      Term     Original    FICO       DTI
            Product with IO term             Loans     Balance ($)    Balance     Rate(%)    (months)     LTV       Score     Ratio
-----------------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                                   6         427,337      0.10       7.947       117        65.90       638     41.63
Fixed--15 Year                                  16       1,477,645      0.34       8.108       177        65.65       627     38.64
Fixed--20 Year                                  13       1,128,638      0.26       8.164       237        69.24       618     41.73
Fixed--25 Year                                   3         245,515      0.06       8.559       298        84.90       622     41.39
Fixed--30 Year                                 319      45,260,682     10.34       8.521       357        76.12       614     41.13
Balloon--15/30                                  25       2,087,227      0.48      10.947       175        92.37       667     42.26
Balloon--30/40                                  46       9,284,207      2.12       7.876       357        75.79       618     44.43
ARM--2 Year/6 Month Balloon 30/40              426     114,722,135     26.20       8.365       357        79.28       601     42.93
ARM--3 Year/6 Month Balloon 30/40              123      26,338,856      6.01       8.369       357        79.07       599     43.18
ARM--1 Year/6 Month                              1         274,325      0.06       7.500       352        80.00       596     45.91
ARM--2 Year/6 Month                            615     120,419,372     27.50       8.768       357        75.72       589     42.09
ARM--3 Year/6 Month                            312      51,383,876     11.73       8.920       357        77.46       578     42.55
ARM--5 Year/6 Month                             10       1,640,728      0.37       8.680       356        75.26       620     42.61
Dual Amort--10/40--2 Year/6 Month                2         805,870      0.18       7.275       352        74.85       626     49.86
Interest Only ARM--2 Year/6 Month--24 mo.
   IO term                                       1         221,000      0.05       6.250       358        78.93       585     21.71
Interest Only ARM--3 Year/6 Month--36 mo.
   IO term                                       2         411,500      0.09       8.195       357        75.77       611     38.57
Interest Only Fixed--30 Year--60 mo.
   IO term                                      11       3,936,185      0.90       7.431       357        76.72       656     41.61
Interest Only ARM--2 Year/6 Month--60 mo.
   IO term                                     136      44,960,935     10.27       7.809       356        81.12       639     42.59
Interest Only ARM--3 Year/6 Month--60 mo.
   IO term                                      38      11,320,598      2.59       7.650       357        81.53       651     41.45
Interest Only ARM--5 Year/6 Month--60 mo.
   IO term                                       4       1,238,400      0.28       6.837       358        75.53       683     42.33
Interest Only Fixed--30 Year--120 mo.
   IO term                                       1         331,000      0.08       6.750       357        79.95       638     37.02
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                        2,110    437,916,030    100.00       8.465       355        77.84       603     42.40
-----------------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                        % of
                                                                      Mortgage
                                                                      Pool by
                                                       Aggregate     Aggregate   Weighted    Weighted   Weighted
                                             Number     Cut-off       Cut-off     Average    Average    Average     Weighted
                                               of        Date           Date       Gross    Remaining   Combined    Average    Back
                                            Mortgage   Principal     Principal   Interest      Term     Original     FICO      DTI
Range of Gross Interest Rates (%)             Loans    Balance ($)     Balance    Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------------------

5.000--5.999                                      3        876,576       0.20      5.888       355        64.94       648     44.87
6.000--6.999                                    149     37,181,474       8.49      6.677       353        72.84       650     42.75
7.000--7.999                                    542    134,436,699      30.70      7.627       356        77.83       623     41.97
8.000--8.999                                    714    143,577,038      32.79      8.551       355        77.95       599     42.14
9.000--9.999                                    466     90,090,407      20.57      9.536       356        79.40       573     43.45
10.000--10.999                                  167     24,335,290       5.56     10.489       353        79.79       563     42.16
11.000--11.999                                   52      6,076,319       1.39     11.412       337        73.48       562     41.38
12.000--12.999                                   13      1,192,121       0.27     12.356       289        92.75       610     42.49
13.000--13.999                                    4        150,108       0.03     13.731       309       100.00       641     43.48
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                        2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
-----------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------
RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate    Weighted   Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of         Date          Date       Gross    Remaining   Combined    Average    Back
Range of Cut-off Date    Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Principal Balances ($)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

1--25,000                     1          15,194       0.00     13.400       358       100.00       648     43.24
25,001--50,000               50       2,139,741       0.49     10.306       311        81.64       608     37.18
50,001--75,000              146       9,422,868       2.15      9.652       337        76.54       592     37.98
75,001--100,000             188      16,393,589       3.74      8.912       342        75.83       591     38.66
100,001--125,000            236      26,812,402       6.12      8.759       349        74.91       588     39.46
125,001--150,000            221      30,591,408       6.99      8.749       355        74.14       584     41.16
150,001--175,000            207      33,551,670       7.66      8.682       357        74.62       593     41.41
175,001--200,000            190      35,826,910       8.18      8.507       357        76.24       591     42.40
200,001--225,000            150      31,937,684       7.29      8.346       356        77.67       604     43.11
225,001--250,000            136      32,352,233       7.39      8.462       357        76.51       593     43.25
250,001--275,000             98      25,769,340       5.88      8.329       357        78.68       595     42.79
275,001--300,000             91      26,334,772       6.01      8.361       355        76.98       597     43.34
300,001--325,000             77      24,015,753       5.48      8.248       357        79.07       607     44.13
325,001--350,000             66      22,309,528       5.09      8.319       357        79.96       616     43.13
350,001--375,000             39      14,065,120       3.21      8.292       357        77.83       626     42.86
375,001--400,000             35      13,656,384       3.12      8.283       357        79.87       612     45.23
400,001--425,000             37      15,212,250       3.47      8.242       357        82.20       616     44.37
425,001--450,000             24      10,566,262       2.41      8.270       357        80.85       606     42.33
450,001--475,000             16       7,369,669       1.68      7.885       357        78.32       612     41.54
475,001--500,000             27      13,193,193       3.01      8.287       356        81.80       619     45.15
500,001--750,000             70      41,982,033       9.59      8.220       357        81.46       629     42.66
750,001--1,000,000            5       4,398,028       1.00      8.044       357        85.63       654     44.18
----------------------------------------------------------------------------------------------------------------
Total:                    2,110     437,916,030     100.00      8.465       355        77.84       603     42.40
----------------------------------------------------------------------------------------------------------------


Minimum: 15,194
Maximum: 1,000,000
Average: 207,543

STATED ORIGINAL TERM (MONTHS)



                                                    % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of          Date         Date       Gross    Remaining   Combined    Average   Back
Stated Original Term     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      (months)             Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------------

120                           6         427,337       0.10      7.947       117        65.90       638     41.63
180                          41       3,564,872       0.81      9.771       176        81.29       651     40.84
240                          13       1,128,638       0.26      8.164       237        69.24       618     41.73
300                           3         245,515       0.06      8.559       298        84.90       622     41.39
360                       2,047     432,549,667      98.77      8.456       357        77.84       602     42.42
----------------------------------------------------------------------------------------------------------------
Total:                    2,110     437,916,030     100.00      8.465       355        77.84       603     42.40
----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 358

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------
RANGE OF STATED REMAINING TERMS (MONTHS)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number       Cut-off      Cut-off     Average    Average     Average   Weighted
                              of            Date         Date       Gross    Remaining   Combined    Average    Back
Range of Stated Remaining   Mortgage     Principal    Principal   Interest      Term     Original     FICO      DTI
      Terms (months)          Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

109--120                          6         427,337      0.10       7.947       117        65.90       638     41.63
169--180                         41       3,564,872      0.81       9.771       176        81.29       651     40.84
229--240                         13       1,128,638      0.26       8.164       237        69.24       618     41.73
289--300                          3         245,515      0.06       8.559       298        84.90       622     41.39
349--360                      2,047     432,549,667     98.77       8.456       357        77.84       602     42.42
--------------------------------------------------------------------------------------------------------------------
Total:                        2,110     437,916,030    100.00       8.465       355        77.84       603     42.40
--------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 355

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number       Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date          Date       Gross    Remaining   Combined    Average    Back
Range of Combined Original   Mortgage     Principal    Principal   Interest     Term      Original     FICO      DTI
      LTV Ratios (%)           Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

10.01--15.00                       1         149,735       0.03      6.625        358       14.63       668     40.95
15.01--20.00                       3         385,532       0.09      8.932        356       18.10       553     38.32
20.01--25.00                       6         952,051       0.22      7.360        323       23.73       597     40.33
25.01--30.00                       6         680,026       0.16      7.560        324       27.44       615     45.90
30.01--35.00                       7       1,092,686       0.25      7.593        358       32.40       638     46.59
35.01--40.00                      16       2,728,112       0.62      8.494        357       38.41       595     39.08
40.01--45.00                      35       5,340,188       1.22      8.043        353       42.47       584     40.14
45.01--50.00                      45       7,123,795       1.63      8.245        357       48.01       598     39.00
50.01--55.00                      48       8,891,944       2.03      8.326        353       52.87       577     40.57
55.01--60.00                      67      10,929,731       2.50      8.006        351       57.91       592     41.96
60.01--65.00                     113      21,401,882       4.89      8.639        355       63.40       571     41.16
65.01--70.00                     177      33,395,914       7.63      8.752        356       68.91       576     42.27
70.01--75.00                     254      52,214,848      11.92      8.498        355       73.92       575     42.31
75.01--80.00                     592     132,565,490      30.27      8.251        356       79.63       612     42.39
80.01--85.00                     322      67,831,455      15.49      8.604        356       84.51       604     42.02
85.01--90.00                     266      65,406,298      14.94      8.520        356       89.40       623     43.62
90.01--95.00                      89      20,360,865       4.65      8.641        355       94.69       637     44.12
95.01--100.00                     63       6,465,479       1.48      9.952        318       99.81       638     44.49
---------------------------------------------------------------------------------------------------------------------
Total:                         2,110     437,916,030     100.00      8.465        355       77.84       603     42.40
---------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 77.84

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------
RANGE OF GROSS MARGINS (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                         Aggregate     Aggregate    Weighted    Weighted   Weighted
                              Number      Cut-off       Cut-off      Average    Average     Average   Weighted
                                of          Date          Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal     Principal    Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)     Balance      Rate(%)    (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 440     64,178,436       14.66       8.412       343        76.26       619     41.62
<= 3.500                          11      2,653,025        0.61       7.424       356        72.63       641     43.61
3.501--4.000                       8      1,907,145        0.44       7.254       358        77.68       636     41.85
4.001--4.500                      19      4,324,490        0.99       7.763       358        74.00       596     41.83
4.501--5.000                      41      9,021,892        2.06       8.168       357        76.48       613     42.40
5.001--5.500                     195     51,923,512       11.86       8.166       356        80.04       615     42.59
5.501--6.000                     305     67,440,901       15.40       8.553       357        77.93       599     42.79
6.001--6.500                     329     75,016,413       17.13       8.226       357        80.32       609     41.70
6.501--7.000                     279     63,530,540       14.51       8.605       357        75.73       593     42.28
7.001--7.500                     412     78,458,344       17.92       8.725       357        77.18       589     43.06
7.501--8.000                      42     10,980,311        2.51       9.007       357        77.73       592     43.92
8.001--8.500                      26      7,814,336        1.78       9.210       356        79.79       566     42.87
8.501--9.000                       3        666,685        0.15       9.739       357        93.89       624     46.61
----------------------------------------------------------------------------------------------------------------------
Total:                         2,110    437,916,030      100.00       8.465       355        77.84       603     42.40
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 8.875
Non-Zero Weighted Average: 6.408

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Rates (%)           Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                440     64,178,436      14.66      8.412       343        76.26       619     41.62
5.501--6.000                      7      2,250,619       0.51      6.626       355        77.38       651     42.65
6.001--6.500                     32      8,798,037       2.01      6.475       357        74.46       635     40.38
6.501--7.000                     84     20,552,469       4.69      6.849       357        75.67       640     44.08
7.001--7.500                    152     39,321,205       8.98      7.342       357        77.68       630     41.47
7.501--8.000                    300     78,094,650      17.83      7.830       357        78.55       615     42.29
8.001--8.500                    232     55,259,381      12.62      8.306       357        78.95       610     42.32
8.501--9.000                    329     66,927,967      15.28      8.804       357        77.21       587     42.44
9.001--9.500                    176     37,372,374       8.53      9.297       357        79.61       585     44.03
9.501--10.000                   206     41,434,210       9.46      9.793       357        78.90       560     43.32
10.001 -10.500                   73     11,529,895       2.63     10.330       357        79.88       559     42.39
10.501--11.000                   53      8,149,824       1.86     10.759       357        79.12       565     41.84
11.001--11.500                   18      2,818,136       0.64     11.211       357        67.48       547     39.55
11.501--12.000                    5        718,334       0.16     11.751       358        65.31       518     37.52
12.001--12.500                    2        460,383       0.11     12.053       354        85.10       600     39.94
12.501--13.000                    1         50,111       0.01     12.530       357        85.00       542     37.26
-------------------------------------------------------------------------------------------------------------------
Total:                        2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.530
Non-Zero Weighted Average: 8.466

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted   Weighted    Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of         Date          Date       Gross    Remaining   Combined    Average    Back
 Range of Maximum    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Mortgage Rates (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans         440     64,178,436      14.66      8.412       343        76.26       619     41.62
<= 12.500                 39     12,267,345       2.80      6.835       356        75.35       631     42.44
12.501--13.000            50     13,310,431       3.04      7.608       356        80.31       620     42.13
13.001--13.500            65     17,466,551       3.99      7.348       357        77.26       625     41.89
13.501--14.000           134     32,961,528       7.53      7.580       357        75.50       622     44.08
14.001--14.500           157     39,586,272       9.04      7.688       357        77.75       628     41.72
14.501--15.000           264     65,621,101      14.98      8.007       357        78.09       611     42.23
15.001--15.500           207     47,489,579      10.84      8.504       357        79.40       606     42.23
15.501--16.000           295     59,247,684      13.53      8.899       357        77.75       584     42.19
16.001--16.500           144     30,213,120       6.90      9.326       357        79.92       583     43.81
16.501--17.000           184     36,598,695       8.36      9.824       357        78.85       557     43.52
17.001--17.500            66      9,826,842       2.24     10.367       357        78.27       551     42.52
17.501--18.000            47      6,365,179       1.45     10.875       357        79.53       561     40.25
18.001--18.500            14      1,901,703       0.43     11.226       357        70.86       544     41.42
18.501--19.000             1         76,455       0.02     11.875       358        75.00       546     39.13
19.001--19.500             2        460,383       0.11     12.053       354        85.10       600     39.94
23.501--24.000             1        344,727       0.08      8.350       356        80.00       596     39.16
------------------------------------------------------------------------------------------------------------
Total:                 2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.121

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                              of         Date          Date       Gross    Remaining   Combined    Average     Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
Initial Periodic Cap (%)    Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score     Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               440     64,178,436      14.66      8.412       343        76.26       619      41.62
1.000                            3        781,953       0.18      7.620       357        87.72       629      39.98
1.500                          303     59,903,212      13.68      8.755       357        77.46       589      41.38
2.000                          420    103,755,618      23.69      8.315       357        77.86       606      42.02
3.000                          944    209,296,811      47.79      8.477       357        78.39       600      43.13
-------------------------------------------------------------------------------------------------------------------
Total:                       2,110    437,916,030     100.00      8.465       355        77.84       603      42.40
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 3.000
Non-Zero Weighted Average: 2.478

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)    Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  440     64,178,436     14.66       8.412       343        76.26       619     41.62
1.000                             492    124,596,041     28.45       8.368       356        77.99       604     42.69
1.500                           1,170    246,846,924     56.37       8.531       357        78.28       598     42.45
2.000                               8      2,294,630      0.52       8.239       352        67.41       586     44.07
---------------------------------------------------------------------------------------------------------------------
Total:                          2,110    437,916,030    100.00       8.465       355        77.84       603     42.40
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.336

NEXT RATE ADJUSTMENT DATES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  440     64,178,436      14.66      8.412       343        76.26       619     41.62
January 2007                        1        274,325       0.06      7.500       352        80.00       596     45.91
November 2007                       4        800,471       0.18      8.021       350        79.90       551     42.79
December 2007                      10      1,947,251       0.44      8.203       351        73.52       581     40.29
January 2008                       24      5,647,512       1.29      8.103       352        76.93       607     42.75
February 2008                      27      6,965,664       1.59      8.286       353        81.45       611     42.65
March 2008                         35      8,514,025       1.94      8.608       354        78.16       599     42.22
April 2008                         73     19,290,655       4.41      8.315       355        77.74       601     42.98
May 2008                          214     55,482,864      12.67      8.319       356        78.05       608     41.92
June 2008                         305     72,853,314      16.64      8.507       357        78.03       603     43.05
July 2008                         402     91,315,520      20.85      8.518       358        77.82       598     42.61
August 2008                        85     18,022,036       4.12      8.477       359        78.94       595     41.43
September 2008                      1        290,000       0.07      7.700       360        71.08       622     49.92
November 2008                       1        343,599       0.08      7.350       350        79.45       609     43.37
January 2009                        2        358,456       0.08      8.226       352        82.66       614     28.98
February 2009                       1         67,233       0.02      8.940       353        90.00       657     35.39
March 2009                          4        715,201       0.16      8.406       354        83.17       588     36.29
April 2009                         13      2,467,572       0.56      8.877       355        78.59       572     42.06
May 2009                           38      8,281,824       1.89      8.234       356        77.85       613     45.22
June 2009                         190     34,564,848       7.89      8.630       357        78.92       588     42.84
July 2009                         213     40,417,627       9.23      8.635       358        78.14       596     42.20
August 2009                        13      2,238,469       0.51      8.594       359        75.82       589     40.48
March 2011                          1        163,942       0.04      6.950       354        55.00       686     39.68
April 2011                          2        750,831       0.17      8.819       355        76.48       578     42.63
May 2011                            1        125,744       0.03      9.400       356        86.90       605     44.39
June 2011                           2        294,402       0.07      9.223       357        92.24       690     47.48
July 2011                           4      1,100,245       0.25      6.613       358        69.64       661     42.31
August 2011                         4        443,963       0.10      8.500       359        80.83       699     39.91
---------------------------------------------------------------------------------------------------------------------
Total:                          2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
Geographic Distribution of    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

California                        364    119,866,722      27.37      8.103       355        77.41       613     42.94
Florida                           318     61,141,911      13.96      8.489       357        75.69       592     43.59
Illinois                          181     33,270,821       7.60      8.853       354        81.26       599     42.89
New York                           76     21,292,441       4.86      8.180       355        72.05       618     42.80
Arizona                           101     19,476,435       4.45      8.552       356        77.30       591     41.23
Maryland                           80     18,890,774       4.31      8.349       357        77.55       606     41.25
Massachusetts                      63     15,000,496       3.43      8.765       356        81.36       606     44.04
New Jersey                         60     14,976,787       3.42      9.072       357        75.32       594     43.70
Virginia                           66     11,028,812       2.52      8.709       357        75.81       595     43.29
Washington                         56     10,675,115       2.44      8.299       355        79.63       584     41.91
Rhode Island                       47     10,030,222       2.29      8.452       358        77.06       602     43.36
Texas                              99      9,537,972       2.18      8.659       333        77.25       592     38.12
Pennsylvania                       70      9,069,999       2.07      8.856       353        79.11       596     39.42
Connecticut                        41      8,701,036       1.99      8.341       357        77.49       604     44.10
Nevada                             39      8,615,720       1.97      8.114       353        79.75       620     41.24
Other                             449     66,340,767      15.15      8.768       355        80.64       599     40.73
---------------------------------------------------------------------------------------------------------------------
Total:                          2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
---------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 49

OCCUPANCY



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Occupancy             Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Primary                         1,948    408,504,087      93.28      8.437       355        77.88       600     42.53
Investment                        150     25,553,934       5.84      8.844       356        76.77       642     39.61
Second Home                        12      3,858,009       0.88      8.985       357        81.01       613     47.76
---------------------------------------------------------------------------------------------------------------------
Total:                          2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Property Type           Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Single Family Residence         1,794    358,824,028      81.94      8.457       355        78.15       601     42.47
2-4 Family                        147     38,226,993       8.73      8.637       356        75.00       615     41.84
Planned Unit Development           89     24,665,843       5.63      8.294       356        77.78       605     42.28
Condo                              80     16,199,166       3.70      8.515       356        77.77       615     42.49
---------------------------------------------------------------------------------------------------------------------
Total:                          2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date        Date        Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Loan Purpose        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------

Refinance--Cashout     2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
------------------------------------------------------------------------------------------------------------
Total:                 2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Documentation Level       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------

Full Documentation        1,134    211,544,484      48.31      8.283       355        78.22       594     42.02
Stated Documentation        900    208,848,377      47.69      8.665       355        77.26       613     43.02
Limited Documentation        76     17,523,169       4.00      8.285       354        80.27       599     39.72
---------------------------------------------------------------------------------------------------------------
Total:                    2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
---------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date        Date        Gross    Remaining   Combined    Average    Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------

500--524           239     41,907,847       9.57      9.498       357        71.13       512     42.56
525--549           255     45,336,934      10.35      9.199       357        72.36       537     42.20
550--574           262     50,317,881      11.49      8.796       357        75.75       563     42.06
575--599           309     62,780,053      14.34      8.534       355        78.82       587     42.31
600--624           372     80,138,729      18.30      8.264       354        80.42       612     42.34
625--649           312     68,891,665      15.73      8.066       355        80.00       637     42.47
650--674           194     47,909,936      10.94      7.958       354        80.44       660     43.21
675--699           104     25,213,963       5.76      7.709       351        79.64       686     41.81
700--724            30      8,187,135       1.87      7.605       352        80.63       709     42.19
725--749            17      3,580,734       0.82      7.835       355        82.16       735     42.01
750--774            10      2,311,932       0.53      8.071       357        81.91       760     42.04
775--799             4      1,014,380       0.23      8.289       303        77.05       784     47.17
800 +                2        324,840       0.07      8.440       357        84.00       802     43.77
------------------------------------------------------------------------------------------------------
Total:           2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 802
Non-Zero Weighted Average: 603

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                             657    122,770,811      28.04      8.843       354        79.17       601     42.31
6                               9      1,557,515       0.36      9.321       358        77.29       579     42.88
12                            108     31,586,408       7.21      8.280       353        75.49       621     43.21
24                            755    176,946,757      40.41      8.284       356        77.63       602     42.41
30                              3        678,428       0.15      9.880       357        79.66       574     43.74
36                            527     97,652,872      22.30      8.334       355        77.51       603     42.31
48                              1        145,964       0.03      8.500       359        36.50       529     43.94
60                             50      6,577,275       1.50      8.800       353        75.80       578     41.24
-----------------------------------------------------------------------------------------------------------------
Total:                      2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                      % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
              of          Date        Date        Gross    Remaining   Combined    Average    Back
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------

1st Lien     2,061    434,568,438      99.24      8.444       356        77.70       602     42.39
2nd Lien        49      3,347,592       0.76     11.261       249        96.34       663     43.60
--------------------------------------------------------------------------------------------------
Total:       2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
--------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date        Date        Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------

0                      1,917    375,496,412      85.75      8.588       355        77.36       596     42.44
24                         1        221,000       0.05      6.250       358        78.93       585     21.71
36                         2        411,500       0.09      8.195       357        75.77       611     38.57
60                       189     61,456,118      14.03      7.736       357        80.80       643     42.31
120                        1        331,000       0.08      6.750       357        79.95       638     37.02
------------------------------------------------------------------------------------------------------------
Total:                 2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CASHOUT                                        2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

TOP 5 ZIP CODE CONCENTRATIONS



                                             % of
                                           Mortgage
                                           Pool by
                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                    of          Date        Date        Gross    Remaining   Combined    Average    Back
Top 5 Zip Code   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------

90011                  5      2,050,564       0.47      8.956       357        79.93       585     42.51
92880                  3      1,740,739       0.40      8.704       357        87.67       621     36.22
92335                  5      1,630,815       0.37      7.304       355        81.42       622     38.60
20772                  4      1,537,813       0.35      7.981       357        76.41       587     40.58
92509                  4      1,386,207       0.32      7.485       358        76.21       628     39.18
Other              2,089    429,569,893      98.09      8.471       355        77.79       603     42.46
--------------------------------------------------------------------------------------------------------
Total:             2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
--------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Los Angeles                      31     12,878,202       2.94      7.961       356        75.51       615     40.44
Chicago                          60     11,223,376       2.56      8.813       354        79.71       605     41.73
Miami                            40      8,600,895       1.96      8.206       357        71.72       590     46.28
Phoenix                          38      6,786,971       1.55      8.357       357        77.06       611     42.88
Las Vegas                        29      6,250,707       1.43      8.204       352        79.40       626     40.60
Other                         1,912    392,175,878      89.56      8.484       355        77.99       602     42.42
-------------------------------------------------------------------------------------------------------------------
Total:                        2,110    437,916,030     100.00      8.465       355        77.84       603     42.40
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

               IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

ORIGINATOR



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
          Originator               Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------------

Accredited                           34       5,454,265      10.48      8.523       358        79.03       633     41.73
Chapel                                1         189,811       0.36      6.190       351        69.64       545     38.47
Encore                               22       5,471,898      10.52      8.832       356        78.00       619     42.97
First Banc                            5         885,796       1.70      8.313       321        83.82       625     40.55
First Horizon                         8       1,551,517       2.98      9.137       358        82.92       639     40.31
First NLC                            97      15,310,051      29.43      8.621       344        81.95       643     43.63
Flex Point                            1         169,662       0.33      9.500       356        40.96       521     49.84
Funding America                       3         377,574       0.73      7.693       354        68.39       616     40.85
Lenders Direct                        5         489,520       0.94      9.379       315        94.07       653     43.80
Lime Financial                        6       1,490,599       2.87      8.745       347        82.09       633     45.38
Mandalay                              1         299,955       0.58      7.990       355        80.00       577     43.99
Master Financial                     26       4,652,014       8.94      8.109       338        84.31       666     42.85
Maxim                                 2         254,697       0.49      8.843       322        84.00       598     33.14
New Century                          51      14,241,761      27.38      8.277       358        81.13       656     41.74
Quick Loan                            1         269,304       0.52      8.250       356        75.00       529     33.24
Rose Mortgage                         7         914,746       1.76      9.906       356        75.46       587     41.71
------------------------------------------------------------------------------------------------------------------------
Total:                              270      52,023,168     100.00      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                              Aggregate   Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Product with IO term          Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------------

Fixed--20 Year                        1          29,209       0.06     11.700       231       100.00       615     36.03
Fixed--30 Year                       17       2,042,281       3.93      9.469       357        75.13       612     44.47
Balloon--15/30                       33       1,928,302       3.71     11.601       176        99.82       654     43.33
Balloon--30/40                        2         336,706       0.65      9.454       358        78.33       549     42.76
ARM--2 Year/6 Month Balloon
   30/40                             66      16,680,483      32.06      8.353       357        81.97       646     42.84
ARM--3 Year/6 Month Balloon
   30/40                             14       3,021,668       5.81      8.859       357        82.42       629     44.76
ARM--2 Year/6 Month                  70      11,702,144      22.49      8.827       357        78.70       625     41.43
ARM--3 Year/6 Month                  21       2,709,037       5.21      8.670       358        75.74       612     38.17
Interest Only ARM--2 Year/6
   Month--60 mo. IO term             33       9,605,212      18.46      7.716       356        80.85       657     42.37
Interest Only ARM--3 Year/6
   Month--60 mo. IO term             13       3,968,127       7.63      7.803       356        80.07       675     44.65
------------------------------------------------------------------------------------------------------------------------
Total:                              270      52,023,168     100.00      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
    Range of Gross Interest      Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
           Rates (%)               Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------------

6.000--6.999                         15       3,338,076       6.42      6.772       356        79.53       662     43.63
7.000--7.999                         72      17,367,079      33.38      7.604       357        80.04       662     41.69
8.000--8.999                         83      18,227,292      35.04      8.544       357        80.20       639     42.89
9.000--9.999                         43       8,206,423      15.77      9.578       356        81.53       614     42.09
10.000--10.999                       27       2,562,531       4.93     10.554       326        85.19       608     43.69
11.000--11.999                       18       1,698,521       3.26     11.352       261        85.47       609     44.53
12.000--12.999                        8         455,230       0.88     12.334       191        99.64       624     43.35
13.000--13.999                        4         168,017       0.32     13.297       206       100.00       620     46.78
------------------------------------------------------------------------------------------------------------------------
Total:                              270      52,023,168     100.00      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------------------------


Minimum: 6.190
Maximum: 13.750
Weighted Average: 8.519

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Cut-off Date            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------------

25,001--50,000                       21         796,535       1.53     11.469       234        96.04       647     42.07
50,001--75,000                       24       1,505,792       2.89     10.276       267        90.34       655     39.08
75,001--100,000                      27       2,362,753       4.54      9.528       324        79.05       622     38.43
100,001--125,000                     23       2,615,738       5.03      8.624       350        78.48       631     38.98
125,001--150,000                     36       5,053,772       9.71      8.606       352        79.16       624     40.45
150,001--175,000                     26       4,238,285       8.15      8.907       357        75.56       612     41.35
175,001--200,000                     24       4,495,868       8.64      8.195       356        80.82       636     43.19
200,001--225,000                     14       2,982,021       5.73      8.263       357        85.03       650     41.48
225,001--250,000                      9       2,168,244       4.17      8.073       357        84.43       661     45.71
250,001--275,000                     13       3,397,221       6.53      7.930       356        81.00       645     44.30
275,001--300,000                     14       4,028,867       7.74      8.315       357        82.49       647     46.95
300,001--325,000                      7       2,229,171       4.28      8.210       357        81.98       649     42.85
325,001--350,000                      9       3,046,056       5.86      8.757       357        80.03       650     42.52
350,001--375,000                      2         733,223       1.41      8.006       356        80.00       668     41.36
375,001--400,000                      2         784,000       1.51      7.550       357        80.00       664     40.80
400,001--425,000                      1         412,000       0.79      7.565       357        80.00       672     48.21
425,001--450,000                      1         431,200       0.83      8.350       357        80.00       647     43.36
475,001--500,000                      1         500,000       0.96      8.115       357        79.37       658     49.96
500,001--750,000                     14       8,404,183      16.15      8.356       356        81.35       654     44.57
750,001--1,000,000                    2       1,838,238       3.53      8.203       358        76.68       624     36.24
------------------------------------------------------------------------------------------------------------------------
Total:                              270      52,023,168     100.00      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------------------------


Minimum: 29,188
Maximum: 988,617
Average: 192,678

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                             % of
                                           Mortgage
                                            Pool by
                             Aggregate     Aggregate   Weighted    Weighted   Weighted
                   Number     Cut-off       Cut-off    Average     Average     Average   Weighted
                     of        Date          Date       Gross     Remaining   Combined   Average    Back
Stated Original   Mortgage   Principal     Principal   Interest      Term     Original     FICO      DTI
 Term (months)      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV      Score     Ratio
---------------------------------------------------------------------------------------------------------

180                   33       1,928,302       3.71     11.601        176       99.82      654      43.33
240                    1          29,209       0.06     11.700        231      100.00      615      36.03
360                  236      50,065,657      96.24      8.399        357       80.23      641      42.50
---------------------------------------------------------------------------------------------------------
Total:               270      52,023,168     100.00      8.519        350       80.96      641      42.52
---------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 353

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                               of         Date         Date       Gross     Remaining   Combined   Average    Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Terms (months)           Loans    Balance ($)    Balance    Rate(%)     (months)      LTV      Score     Ratio
-------------------------------------------------------------------------------------------------------------------

169--180                        33       1,928,302       3.71     11.601        176        99.82     654      43.33
229--240                         1          29,209       0.06     11.700        231       100.00     615      36.03
349--360                       236      50,065,657      96.24      8.399        357        80.23     641      42.50
-------------------------------------------------------------------------------------------------------------------
Total:                         270      52,023,168     100.00      8.519        350        80.96     641      42.52
-------------------------------------------------------------------------------------------------------------------


Minimum: 173
Maximum: 359
Weighted Average: 350

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date         Date       Gross     Remaining   Combined   Average    Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance    Rate(%)     (months)      LTV      Score     Ratio
--------------------------------------------------------------------------------------------------------------------

20.01--25.00                      1          89,730       0.17      7.500        356       24.66       683     48.77
35.01--40.00                      2         109,574       0.21      8.287        354       40.00       556     39.42
40.01--45.00                      4         562,666       1.08      9.157        357       43.07       544     44.11
45.01--50.00                      3         317,162       0.61      8.387        356       48.07       623     36.73
50.01--55.00                      1          81,817       0.16      8.850        356       54.67       529     25.60
55.01--60.00                      4         593,331       1.14      8.120        357       58.67       604     42.15
60.01--65.00                      5         878,608       1.69      9.486        357       64.31       572     43.72
65.01--70.00                     11       2,185,179       4.20      9.481        356       68.38       569     43.38
70.01--75.00                      6       1,729,116       3.32      8.136        357       74.67       594     36.30
75.01--80.00                    138      31,472,817      60.50      8.199        357       79.91       656     42.32
80.01--85.00                     11       2,355,378       4.53      8.274        357       84.08       612     39.59
85.01--90.00                     32       7,403,687      14.23      8.584        357       89.45       636     44.78
90.01--95.00                      9       1,518,064       2.92      9.209        353       95.00       639     45.06
95.01--100.00                    43       2,726,040       5.24     11.035        230       99.77       662     43.63
--------------------------------------------------------------------------------------------------------------------
Total:                         270       52,023,168     100.00      8.519        350       80.96       641     42.52
--------------------------------------------------------------------------------------------------------------------


Minimum: 24.66
Maximum: 100.00
Weighted Average: 80.96

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date         Date       Gross     Remaining   Combined   Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate(%)     (months)      LTV      Score     Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                53        4,336,498       8.34     10.431        276       86.53       626     43.77
<= 3.500                         2          387,789       0.75      6.990        357       80.00       677     45.33
3.501--4.000                     4          573,902       1.10      8.545        356       80.00       654     41.56
4.001--4.500                     2          403,512       0.78      7.333        357       80.00       732     41.14
4.501--5.000                    14        3,000,562       5.77      7.641        355       82.14       655     43.38
5.001--5.500                    26        6,590,782      12.67      8.292        356       82.59       636     42.13
5.501--6.000                    51        9,048,296      17.39      8.443        357       79.60       647     42.22
6.001--6.500                    53       14,745,877      28.34      8.303        357       81.16       647     41.50
6.501--7.000                    19        3,853,066       7.41      8.450        357       75.97       608     43.57
7.001--7.500                    40        7,545,747      14.50      8.628        357       79.92       644     42.96
7.501--8.000                     4          898,258       1.73      8.489        357       81.18       642     45.06
8.001--8.500                     2          638,878       1.23      8.909        357       80.00       617     46.70
--------------------------------------------------------------------------------------------------------------------
Total:                         270       52,023,168     100.00      8.519        350       80.96       641     42.52
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.490
Maximum: 8.170
Non-Zero Weighted Average: 6.191

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                               of         Date         Date       Gross     Remaining   Combined   Average    Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance    Rate(%)     (months)      LTV      Score     Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                53       4,336,498       8.34     10.431        276        86.53     626      43.77
6.001--6.500                     3         595,018       1.14      6.625        355        78.91     624      39.02
6.501--7.000                    13       3,223,760       6.20      6.886        356        81.12     666      44.98
7.001--7.500                    23       5,536,829      10.64      7.337        356        79.18     681      42.71
7.501--8.000                    44      10,801,875      20.76      7.768        357        80.78     653      40.90
8.001--8.500                    36       8,314,420      15.98      8.276        357        81.79     645      43.57
8.501--9.000                    45       9,753,621      18.75      8.786        357        78.83     633      42.32
9.001--9.500                    15       2,806,220       5.39      9.310        357        78.57     629      37.02
9.501--10.000                   22       4,595,561       8.83      9.758        357        83.76     612      45.15
10.001 -10.500                   9       1,208,771       2.32     10.291        357        84.53     610      43.00
10.501--11.000                   6         705,725       1.36     10.841        356        73.07     547      44.74
11.501--12.000                   1         144,870       0.28     11.850        357        64.44     528      38.92
-------------------------------------------------------------------------------------------------------------------
Total:                         270      52,023,168     100.00      8.519        350        80.96     641      42.52
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.190
Maximum: 11.850
Non-Zero Weighted Average: 8.340

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                               of         Date         Date       Gross     Remaining   Combined   Average    Back
Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance    Rate(%)     (months)      LTV      Score     Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               53        4,336,498       8.34     10.431        276       86.53       626     43.77
<= 12.500                       3          473,701       0.91      6.836        354       71.88       604     37.38
12.501--13.000                  3        1,035,640       1.99      7.912        356       86.22       659     43.65
13.001--13.500                  7        2,237,779       4.30      7.795        357       83.59       632     43.73
13.501--14.000                 21        5,061,497       9.73      7.517        356       80.09       649     42.66
14.001--14.500                 22        5,622,800      10.81      7.444        357       78.96       674     42.44
14.501--15.000                 40        9,970,431      19.17      7.857        357       80.48       653     41.15
15.001--15.500                 33        6,521,960      12.54      8.361        357       80.35       647     43.33
15.501--16.000                 41        8,487,654      16.32      8.846        357       79.03       634     43.15
16.001--16.500                 15        2,669,022       5.13      9.359        357       81.83       639     36.91
16.501--17.000                 21        4,093,909       7.87      9.868        357       83.05       603     44.70
17.001--17.500                  6          960,212       1.85     10.293        357       84.01       613     43.23
17.501--18.000                  5          552,066       1.06     10.810        357       73.92       559     44.75
-------------------------------------------------------------------------------------------------------------------
Total:                        270       52,023,168     100.00      8.519        350       80.96       641     42.52
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.900
Maximum: 17.999
Non-Zero Weighted Average: 15.075

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Initial Periodic Cap (%)      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  53       4,336,498       8.34     10.431       276        86.53       626     43.77
1.500                             45       8,732,972      16.79      8.408       357        80.67       644     43.47
2.000                             59      15,975,782      30.71      8.332       357        80.40       645     40.74
3.000                            113      22,977,916      44.17      8.331       356        80.42       641     43.15
---------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168     100.00      8.519       350        80.96       641     42.52
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.390

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  53       4,336,498       8.34     10.431       276        86.53       626     43.77
1.000                             65      15,043,549      28.92      8.318       356        81.20       634     42.10
1.500                            150      32,406,943      62.29      8.340       357        80.30       648     42.54
2.000                              2         236,178       0.45     10.797       357        55.14       512     45.09
---------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168     100.00      8.519       350        80.96       641     42.52
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.345

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  53       4,336,498       8.34     10.431       276        86.53       626     43.77
November 2007                      1         110,847       0.21      7.750       350        80.00       639     43.85
December 2007                      3         507,672       0.98      6.865       351        76.13       600     41.66
January 2008                       4         596,278       1.15      7.368       352        82.33       677     40.68
February 2008                      2         222,779       0.43      7.798       353        80.00       736     35.69
March 2008                         8       1,376,837       2.65      8.045       354        75.70       624     40.91
April 2008                        19       4,177,710       8.03      8.087       355        83.24       637     43.38
May 2008                          25       5,693,866      10.94      8.332       356        77.61       626     41.21
June 2008                         34       9,131,075      17.55      8.611       357        82.36       638     46.62
July 2008                         62      14,090,925      27.09      8.348       358        79.93       651     40.07
August 2008                       11       2,079,849       4.00      8.509       359        85.66       666     40.98
December 2008                      1         620,450       1.19      8.750       351        80.00       629     47.27
April 2009                         1         194,105       0.37      7.850       355        80.00       642     50.27
May 2009                           5       1,247,163       2.40      7.937       356        79.54       625     44.31
June 2009                         16       3,085,466       5.93      8.226       357        79.46       650     43.09
July 2009                         23       4,303,815       8.27      8.541       358        79.61       646     41.76
August 2009                        2         247,833       0.48      8.999       359        79.93       637     35.56
---------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168     100.00      8.519       350        80.96       641     42.52
---------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
 Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

California                        79      22,100,045      42.48      8.257       348        81.28       649     43.44
Florida                           71      10,770,118      20.70      8.543       350        80.57       646     40.27
Illinois                          32       4,275,544       8.22      8.995       344        84.01       634     41.59
Massachusetts                     12       1,981,246       3.81      8.611       357        80.12       633     44.06
Hawaii                             5       1,830,435       3.52      8.906       358        85.92       677     47.48
Connecticut                       12       1,797,859       3.46      9.791       357        76.54       580     44.64
New Jersey                         3       1,666,456       3.20      7.993       357        74.91       630     39.49
Maryland                           6       1,124,808       2.16      8.294       357        83.36       617     44.07
Washington                         7         861,305       1.66      8.513       344        83.63       614     43.32
Virginia                           4         612,362       1.18      9.176       339        72.95       560     49.63
Nevada                             3         554,334       1.07      8.613       357        84.50       630     41.35
Texas                              3         516,164       0.99      8.707       358        82.14       694     42.08
Colorado                           4         406,525       0.78      8.102       342        84.53       711     42.81
New York                           3         398,461       0.77      7.834       358        80.00       664     43.95
Utah                               2         389,258       0.75      9.535       357        62.23       607     50.31
Other                             24       2,738,246       5.26      8.864       357        80.44       621     38.06
---------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168     100.00      8.519       350        80.96       641     42.52
---------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 30

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date       Gross    Remaining   Combined    Average    Back
              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Occupancy       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------

Primary          245      45,811,751      88.06      8.421       349        80.83       641     42.67
Investment        19       3,347,282       6.43      9.330       358        82.81       642     41.44
Second Home        6       2,864,135       5.51      9.132       358        80.97       644     41.48
-----------------------------------------------------------------------------------------------------
Total:           270      52,023,168     100.00      8.519       350        80.96       641     42.52
-----------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                            % of
                                          Mortgage
                                          Pool by
                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                   of          Date         Date       Gross    Remaining   Combined    Average    Back
                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Property Type     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------

Condo              270      52,023,168     100.00      8.519       350        80.96       641     42.52
-------------------------------------------------------------------------------------------------------
Total:             270      52,023,168     100.00      8.519       350        80.96       641     42.52
-------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average    Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Loan Purpose            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------

Purchase                  177      33,304,474      64.02      8.481       347        82.64       656     42.35
Refinance--Cashout         80      16,199,166      31.14      8.515       356        77.77       615     42.49
Refinance--Rate Term       13       2,519,529       4.84      9.052       357        79.41       612     45.07
--------------------------------------------------------------------------------------------------------------
Total:                    270      52,023,168     100.00      8.519       350        80.96       641     42.52
--------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average    Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Documentation Level      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------

Stated Documentation       142      30,210,516      58.07      8.761       350        81.40       653     43.77
Full Documentation         114      20,216,742      38.86      8.148       352        79.71       622     41.14
Limited Documentation       14       1,595,911       3.07      8.634       326        88.67       669     36.70
---------------------------------------------------------------------------------------------------------------
Total:                     270      52,023,168     100.00      8.519       350        80.96       641     42.52
---------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of         Date          Date       Gross    Remaining   Combined    Average    Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------

500--524           14       2,018,170       3.88      9.698       357        70.17       512     41.57
525--549           12       2,213,114       4.25      9.635       356        69.61       540     41.31
550--574           10       1,944,009       3.74      8.759       357        82.39       560     44.53
575--599           17       2,650,078       5.09      8.937       352        79.42       590     39.62
600--624           43       7,350,258      14.13      8.798       343        81.38       614     42.76
625--649           64      12,872,943      24.74      8.487       350        82.16       636     42.15
650--674           46      10,904,600      20.96      8.206       350        82.53       661     44.99
675--699           31       6,217,266      11.95      8.220       354        80.98       688     40.24
700--724           15       2,310,460       4.44      8.139       345        84.80       710     40.59
725--749           13       1,910,665       3.67      8.031       338        83.72       734     42.96
750--774            4       1,315,605       2.53      7.830       358        80.00       759     44.23
775--799            1         316,000       0.61      8.350       358        80.00       784     45.41
------------------------------------------------------------------------------------------------------
Total:            270      52,023,168     100.00      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 784
Non-Zero Weighted Average: 641

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                             71      14,791,596      28.43      8.751       352        80.55       641     43.37
12                            16       3,293,573       6.33      8.336       357        78.36       640     37.04
24                           116      22,973,093      44.16      8.287       352        81.87       643     43.03
36                            66      10,793,063      20.75      8.729       341        80.42       641     42.06
60                             1         171,843       0.33      9.875       358        80.00       539     37.59
-----------------------------------------------------------------------------------------------------------------
Total:                       270      52,023,168     100.00      8.519       350        80.96       641     42.52
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                            % of
                                          Mortgage
                                          Pool by
                            Aggregate    Aggregate    Weighted   Weighted    Weighted
                 Number      Cut-off      Cut-off     Average     Average     Average   Weighted
                   of          Date         Date       Gross     Remaining   Combined    Average    Back
                Mortgage    Principal    Principal    Interest      Term     Original     FICO      DTI
Lien Position     Loans    Balance ($)    Balance     Rate(%)     (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------

1st Lien           230      49,786,519      95.70       8.383       357        80.12       641     42.47
2nd Lien            40       2,236,649       4.30      11.545       199        99.82       653     43.71
--------------------------------------------------------------------------------------------------------
Total:             270      52,023,168     100.00       8.519       350        80.96       641     42.52
--------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET CONDOMINIUM                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of         Date          Date       Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)     Balance    Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

0                       224      38,449,829      73.91      8.794       348        81.08       634     42.34
60                       46      13,573,339      26.09      7.741       356        80.62       663     43.05
------------------------------------------------------------------------------------------------------------
Total:                  270      52,023,168     100.00      8.519       350        80.96       641     42.52
------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                             % of
                                           Mortgage
                                           Pool by
                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                   of           Date         Date       Gross    Remaining   Combined    Average   Back
Top 5 Zip Code   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Concentrations     Loans    Balance ($)     Balance    Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------

07656                 1         988,617       1.90      7.625       358        74.95       628     35.63
94107                 1         849,622       1.63      8.875       358        78.70       620     36.94
92882                 4         834,375       1.60      8.260       322        83.89       664     46.73
96734                 1         749,598       1.44      9.625       357        88.24       645     49.37
91436                 1         749,406       1.44      8.390       357        78.95       650     56.48
Other               262      47,851,551      91.98      8.520       350        81.00       641     42.37
--------------------------------------------------------------------------------------------------------
Total:              270      52,023,168     100.00      8.519       350        80.96       641     42.52
--------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                             % of
                                           Mortgage
                                           Pool by
                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                    of         Date          Date       Gross    Remaining   Combined    Average    Back
  Top 5 City     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------

Los Angeles           6       2,479,083       4.77      8.224       350        80.72       670     36.21
Miami                14       1,933,288       3.72      8.108       349        75.36       652     41.95
San Jose              5       1,841,859       3.54      8.783       342        81.24       642     48.80
Chicago              12       1,591,646       3.06      9.001       334        84.16       638     39.69
San Diego             5       1,424,963       2.74      8.483       357        80.00       704     38.73
Other               228      42,752,330      82.18      8.527       351        81.13       637     42.88
--------------------------------------------------------------------------------------------------------
Total:              270      52,023,168     100.00      8.519       350        80.96       641     42.52
--------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

ORIGINATOR



                                               % of
                                             Mortgage
                                              Pool by
                                             Aggregate   Weighted    Weighted   Weighted
                    Number      Aggregate     Cut-off     Average    Average    Average    Weighted
                      of      Cut-off Date     Date        Gross    Remaining   Combined    Average    Back
                   Mortgage     Principal    Principal   Interest      Term     Original     FICO      DTI
   Originator       Loans      Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------

Accredited             20       4,744,804        5.80      8.296       357        76.53       602     53.09
Chapel                  1         204,215        0.25      9.100       353        50.00       506     50.98
Encore                 42      10,820,327       13.23      8.164       356        76.83       612     52.61
First Banc              5       1,030,373        1.26      7.865       355        74.57       585     53.41
First Horizon           8       1,288,439        1.57      9.208       358        85.95       616     51.37
First NLC             206      37,869,501       46.29      8.619       351        80.97       608     52.44
Flex Point              2         584,556        0.71      8.683       358        66.76       523     54.32
Funding America         2         181,867        0.22      8.763       355        65.74       519     50.16
Lenders Direct          4         681,164        0.83      8.648       354        77.98       554     52.99
Lime Financial          4         493,255        0.60      8.191       332        87.46       641     52.53
Mandalay                3         537,893        0.66      7.140       321        84.35       735     53.30
Master Financial       12       2,801,920        3.42      8.124       327        85.40       643     55.36
Maxim                   3         320,880        0.39      9.718       343        84.60       587     51.85
New Century            57      14,010,715       17.12      8.102       358        77.80       625     53.00
Quick Loan              4         711,170        0.87      9.085       357        67.74       568     51.75
Rose Mortgage          21       5,535,150        6.77      8.624       357        80.76       596     52.93
-----------------------------------------------------------------------------------------------------------
Total:                394      81,816,229      100.00      8.433       353        79.48       611     52.73
-----------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                  % of
                                                                Mortgage
                                                                 Pool by
                                                                Aggregate   Weighted    Weighted   Weighted
                                       Number     Aggregate      Cut-off     Average    Average     Average   Weighted
                                         of      Cut-off Date     Date        Gross    Remaining   Combined    Average    Back
                                      Mortgage    Principal     Principal   Interest      Term     Original     FICO      DTI
Product with IO term                    Loans    Balance ($)     Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                             2         124,022        0.15      8.433       177        78.01       627     52.07
Fixed--20 Year                             2         212,730        0.26      8.560       237        79.52       637     52.44
Fixed--30 Year                            43       5,473,240        6.69      8.592       356        77.90       603     52.45
Balloon--15/30                            28       1,696,075        2.07     11.375       176        99.93       651     52.35
Balloon--30/40                             9       1,793,415        2.19      7.959       358        77.67       607     52.21
ARM--2 Year/6 Month Balloon 30/40         78      22,029,561       26.93      8.223       357        79.94       613     52.87
ARM--2 Year/6 Month Balloon 30/50          1         203,935        0.25      8.450       357        80.00       625     51.37
ARM--3 Year/6 Month Balloon 30/40         26       6,049,467        7.39      8.078       357        83.15       620     54.85
ARM--2 Year/6 Month                      115      23,380,722       28.58      8.622       357        76.89       598     52.58
ARM--3 Year/6 Month                       55      10,247,498       12.53      8.969       357        78.58       582     52.68
Dual Amort--10/40--2 Year/6 Month          1         598,235        0.73      7.200       352        80.00       630     50.08
Interest Only Fixed--30 Year--
   60 mo. IO term                          1         475,000        0.58      9.150       358        86.36       673     53.11
Interest Only ARM--2 Year/6 Month--
   60 mo. IO term                         26       7,869,280        9.62      7.563       357        80.90       653     52.08
Interest Only ARM--3 Year/6 Month--
   60 mo. IO term                          7       1,663,050        2.03      7.882       358        79.62       650     51.81
------------------------------------------------------------------------------------------------------------------------------
Total:                                   394      81,816,229      100.00      8.433       353        79.48       611     52.73
------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                % of
                                              Mortgage
                                              Pool by
                                             Aggregate   Weighted   Weighted    Weighted
                    Number      Aggregate     Cut-off     Average    Average    Average    Weighted
 Range of Gross       of      Cut-off Date      Date       Gross    Remaining   Combined    Average    Back
 Interest Rates    Mortgage     Principal    Principal   Interest     Term      Original     FICO       DTI
       (%)          Loans      Balance ($)    Balance     Rate(%)   (months)      LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------

6.000--6.999           28       8,412,983       10.28      6.646       356        75.92       659     53.65
7.000--7.999          102      26,755,244       32.70      7.649       356        79.64       629     52.77
8.000--8.999          119      24,099,030       29.46      8.531       357        78.10       600     52.55
9.000--9.999           83      15,988,135       19.54      9.534       354        80.05       581     52.71
10.000--10.999         33       4,230,373        5.17     10.426       338        86.07       580     52.36
11.000--11.999         20       1,783,089        2.18     11.389       292        85.56       586     51.83
12.000--12.999          6         420,083        0.51     12.442       197       100.00       634     50.97
13.000--13.999          3         127,292        0.16     13.798       267       100.00       621     52.08
-----------------------------------------------------------------------------------------------------------
Total:                394      81,816,229      100.00      8.433       353        79.48       611     52.73
-----------------------------------------------------------------------------------------------------------


Minimum: 6.105
Maximum: 13.990
Weighted Average: 8.433

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                               % of
                                             Mortgage
                                             Pool by
                                             Aggregate   Weighted    Weighted   Weighted
                    Number      Aggregate    Cut-off      Average    Average     Average   Weighted
Range of Cut-off      of      Cut-off Date     Date        Gross    Remaining   Combined    Average    Back
 Date Principal    Mortgage     Principal    Principal   Interest      Term     Original     FICO       DTI
  Balances ($)      Loans      Balance ($)   Balance      Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------

1--25,000               4          91,213        0.11     11.149       220        98.63       623     52.36
25,001--50,000         13         566,955        0.69     11.340       223        96.01       630     53.51
50,001--75,000         25       1,647,213        2.01      9.866       287        85.59       622     52.20
75,001--100,000        34       3,009,375        3.68      9.411       333        84.04       599     52.45
100,001--125,000       44       4,969,960        6.07      9.158       346        80.63       584     53.08
125,001--150,000       30       4,189,766        5.12      8.563       357        74.38       584     52.45
150,001--175,000       36       5,853,383        7.15      8.887       352        76.35       595     52.67
175,001--200,000       40       7,596,754        9.29      8.463       357        77.61       603     52.72
200,001--225,000       27       5,738,574        7.01      8.234       357        76.05       598     52.52
225,001--250,000       37       8,745,407       10.69      8.409       357        79.76       613     52.14
250,001--275,000       15       3,920,319        4.79      8.117       357        74.46       604     52.54
275,001--300,000       19       5,443,656        6.65      8.576       357        78.85       596     52.12
300,001--325,000       11       3,409,901        4.17      8.395       357        83.17       606     53.06
325,001--350,000        7       2,353,691        2.88      8.570       357        80.05       623     52.54
350,001--375,000        7       2,528,200        3.09      8.709       357        74.08       632     52.73
375,001--400,000       13       5,036,058        6.16      7.759       357        80.57       617     53.54
400,001--425,000        5       2,045,716        2.50      7.556       356        81.63       647     53.77
425,001--450,000        6       2,654,249        3.24      8.564       358        78.68       621     51.51
450,001--475,000        5       2,318,720        2.83      8.361       356        84.31       662     52.77
475,001--500,000        4       1,954,528        2.39      8.066       357        82.96       587     52.73
500,001--750,000       11       6,754,292        8.26      7.581       357        82.05       638     52.96
750,001--1,000,000      1         988,299        1.21      6.600       356        90.00       695     59.34
-----------------------------------------------------------------------------------------------------------
Total:                394      81,816,229      100.00      8.433       353        79.48       611     52.73
-----------------------------------------------------------------------------------------------------------


Minimum: 19,178
Maximum: 988,299
Average: 207,655

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                    % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average   Back
Stated Original Term   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      (months)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------

180                        30       1,820,097       2.22     11.175       176        98.43       650     52.33
240                         2         212,730       0.26      8.560       237        79.52       637     52.44
360                       362      79,783,401      97.52      8.370       357        79.05       610     52.74
--------------------------------------------------------------------------------------------------------------
Total:                    394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 356

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                         % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Terms (months)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

169--180                        30       1,820,097       2.22     11.175       176        98.43       650     52.33
229--240                         2         212,730       0.26      8.560       237        79.52       637     52.44
349--360                       362      79,783,401      97.52      8.370       357        79.05       610     52.74
-------------------------------------------------------------------------------------------------------------------
Total:                         394      81,816,229     100.00      8.433       353        79.48       611     52.73
-------------------------------------------------------------------------------------------------------------------


Minimum: 174
Maximum: 359
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

25.01--30.00                      1         114,655       0.14      7.500       356        26.74       608     52.47
30.01--35.00                      3         453,537       0.55      8.188       358        32.16       590     52.67
40.01--45.00                      3         485,127       0.59      8.367       357        42.09       556     54.08
45.01--50.00                      5         851,379       1.04      7.666       356        47.90       595     52.30
50.01--55.00                      7       1,411,132       1.72      8.980       357        53.09       581     52.94
55.01--60.00                      5         845,103       1.03      8.759       357        58.22       560     52.25
60.01--65.00                     16       3,543,078       4.33      9.038       357        63.63       540     52.03
65.01--70.00                     28       4,979,917       6.09      8.360       357        68.90       579     52.92
70.01--75.00                     40       8,966,237      10.96      8.310       354        74.36       584     52.88
75.01--80.00                    145      34,963,507      42.73      8.056       356        79.82       629     52.80
80.01--85.00                     30       6,241,916       7.63      9.014       355        84.54       585     52.39
85.01--90.00                     52      12,031,592      14.71      8.266       357        89.46       621     52.79
90.01--95.00                     21       4,417,601       5.40      9.375       356        94.81       622     52.79
95.01--100.00                    38       2,511,446       3.07     11.055       236        99.97       650     52.31
--------------------------------------------------------------------------------------------------------------------
Total:                          394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------------------------


Minimum: 26.74
Maximum: 100.00
Weighted Average: 79.48

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 85       9,774,482      11.95      8.983       320        82.13       617     52.42
3.501--4.000                      2         547,600       0.67      6.765       358        80.00       697     51.50
4.001--4.500                      2         429,446       0.52      8.144       358        77.79       581     54.57
4.501--5.000                      7       1,563,639       1.91      8.557       356        75.05       608     53.94
5.001--5.500                     35      10,248,796      12.53      7.918       356        80.15       636     53.24
5.501--6.000                     50      11,628,679      14.21      8.346       356        78.45       605     52.88
6.001--6.500                     57      13,638,719      16.67      7.906       358        79.85       623     52.74
6.501--7.000                     47      11,240,272      13.74      8.360       357        78.06       598     52.59
7.001--7.500                     91      17,687,989      21.62      8.721       357        78.17       597     52.55
7.501--8.000                      9       2,826,442       3.45      9.262       357        82.13       595     52.48
8.001--8.500                      6       1,325,244       1.62      9.555       356        82.26       547     52.83
8.501--9.000                      2         694,733       0.85      9.364       358        93.35       672     52.91
9.001--9.500                      1         210,187       0.26      9.390       358        80.00       629     50.14
--------------------------------------------------------------------------------------------------------------------
Total:                          394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.590
Maximum: 9.240
Non-Zero Weighted Average: 6.501

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                85       9,774,482      11.95      8.983       320        82.13       617     52.42
6.001--6.500                     4       1,805,521       2.21      6.362       356        83.40       675     53.69
6.501--7.000                    20       5,925,611       7.24      6.773       356        78.44       651     53.99
7.001--7.500                    28       7,688,586       9.40      7.307       357        78.46       647     52.44
7.501--8.000                    67      18,073,864      22.09      7.846       357        79.79       621     52.81
8.001--8.500                    39       8,561,640      10.46      8.329       357        79.53       615     52.33
8.501--9.000                    57      12,102,931      14.79      8.779       357        77.27       591     52.73
9.001--9.500                    30       6,008,669       7.34      9.307       357        80.39       576     52.64
9.501--10.000                   37       7,776,056       9.50      9.753       357        77.73       575     53.03
10.001 -10.500                  12       1,940,183       2.37     10.204       357        85.58       571     51.65
10.501--11.000                  11       1,509,516       1.85     10.713       357        83.50       560     52.20
11.001--11.500                   4         649,171       0.79     11.159       358        67.20       536     51.85
-------------------------------------------------------------------------------------------------------------------
Total:                         394      81,816,229     100.00      8.433       353        79.48       611     52.73
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.105
Maximum: 11.425
Non-Zero Weighted Average: 8.355

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                       % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                85       9,774,482      11.95      8.983       320        82.13       617     52.42
<= 12.500                       11       4,030,994       4.93      7.067       355        75.55       650     52.77
12.501--13.000                   7       2,185,946       2.67      7.770       356        80.18       625     53.98
13.001--13.500                   6       2,344,102       2.87      7.038       358        83.10       627     52.76
13.501--14.000                  27       7,720,228       9.44      7.355       357        79.26       628     53.60
14.001--14.500                  30       6,705,246       8.20      7.631       357        80.89       639     52.46
14.501--15.000                  66      16,789,841      20.52      8.053       357        78.17       620     52.62
15.001--15.500                  33       7,236,715       8.85      8.420       357        78.03       614     52.33
15.501--16.000                  53      10,611,306      12.97      8.946       357        77.86       588     52.82
16.001--16.500                  23       4,747,009       5.80      9.321       357        81.37       580     52.75
16.501--17.000                  28       6,219,623       7.60      9.759       357        79.37       570     53.07
17.001--17.500                  12       1,940,183       2.37     10.204       357        85.58       571     51.65
17.501--18.000                   9         861,382       1.05     10.661       357        90.96       566     52.27
18.001--18.500                   4         649,171       0.79     11.159       358        67.20       536     51.85
-------------------------------------------------------------------------------------------------------------------
Total:                         394      81,816,229     100.00      8.433       353        79.48       611     52.73
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.700
Maximum: 18.425
Non-Zero Weighted Average: 14.990

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date        Date        Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               85       9,774,482      11.95      8.983       320        82.13       617     52.42
1.500                          33       7,838,061       9.58      8.306       357        79.63       614     52.87
2.000                          80      21,473,271      26.25      8.123       357        77.20       616     52.96
3.000                         196      42,730,414      52.23      8.486       357        80.00       606     52.66
------------------------------------------------------------------------------------------------------------------
Total:                        394      81,816,229     100.00      8.433       353        79.48       611     52.73
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.539

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  85       9,774,482      11.95      8.983       320        82.13       617     52.42
1.000                             85      21,181,494      25.89      8.250       356        78.21       609     52.99
1.500                            223      50,573,548      61.81      8.397       357        79.50       610     52.69
2.000                              1         286,704       0.35      9.575       351        80.00       505     52.94
---------------------------------------------------------------------------------------------------------------------
Total:                           394      81,816,229     100.00      8.433       353        79.48       611     52.73
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.355

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 85       9,774,482      11.95      8.983       320        82.13       617     52.42
November 2007                     1         148,920       0.18     10.050       350        80.00       511     51.30
December 2007                     4       1,341,434       1.64      7.792       351        80.00       633     52.07
January 2008                      6       1,252,209       1.53      7.672       352        81.48       624     52.45
February 2008                     6       1,879,797       2.30      7.815       353        78.29       615     51.34
March 2008                        3         530,171       0.65      8.897       354        68.79       563     51.91
April 2008                        9       1,871,145       2.29      8.752       355        77.22       593     53.74
May 2008                         34       8,257,772      10.09      8.169       356        77.97       622     52.95
June 2008                        73      17,020,334      20.80      8.409       357        78.58       603     52.64
July 2008                        76      20,080,894      24.54      8.281       358        79.73       621     52.49
August 2008                       9       1,699,058       2.08      8.273       359        75.15       575     52.52
March 2009                        1         126,213       0.15      8.300       354        65.00       536     51.19
April 2009                        3         524,526       0.64      8.098       355        77.55       590     54.58
May 2009                          8       2,268,440       2.77      7.879       356        81.13       604     55.51
June 2009                        37       7,006,757       8.56      8.673       357        80.59       595     53.23
July 2009                        38       7,855,278       9.60      8.754       358        80.05       606     52.80
August 2009                       1         178,800       0.22      6.590       359        80.00       708     50.78
--------------------------------------------------------------------------------------------------------------------
Total:                          394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                       83      26,371,918      32.23      7.960       352        80.35       631     53.09
Florida                          72      12,743,650      15.58      8.739       352        76.06       594     52.51
Illinois                         31       5,740,712       7.02      8.667       355        82.92       615     52.41
Nevada                           14       3,485,439       4.26      7.963       354        79.04       630     52.59
Massachusetts                    13       2,893,273       3.54      8.928       350        81.26       624     53.22
Texas                            25       2,863,087       3.50      8.534       338        80.20       619     52.00
Arizona                          14       2,421,170       2.96      8.049       357        79.49       602     53.04
Maryland                         12       2,420,881       2.96      9.088       345        79.85       561     52.76
New York                          6       2,381,177       2.91      7.672       357        74.43       623     52.74
Connecticut                      11       2,206,266       2.70      8.969       353        76.52       606     51.89
New Jersey                        7       2,153,964       2.63      9.083       357        79.28       557     52.91
Washington                       10       1,837,057       2.25      7.889       357        76.15       592     52.20
Georgia                          11       1,490,349       1.82      8.964       357        84.61       617     52.79
Rhode Island                      7       1,489,931       1.82      9.017       358        80.19       617     53.10
Virginia                          8       1,430,741       1.75      9.157       357        78.14       568     51.93
Other                            70       9,886,616      12.08      8.843       354        80.78       592     52.59
--------------------------------------------------------------------------------------------------------------------
Total:                          394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 37

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
Princeton Termsheet DTI gt 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

OCCUPANCY



                                         % of
                                       Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                 of          Date        Date        Gross    Remaining   Combined    Average    Back
              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Occupancy       Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------

Primary          358      73,745,182      90.14      8.401       352        79.31       607     52.75
Investment        26       6,030,536       7.37      8.794       357        81.84       644     52.42
Second Home       10       2,040,511       2.49      8.538       357        78.67       629     53.18
-----------------------------------------------------------------------------------------------------
Total:           394      81,816,229     100.00      8.433       353        79.48       611     52.73
-----------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                              of          Date        Date        Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Property Type           Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------

Single Family Residence       324      63,531,159      77.65      8.440       352        79.97       607     52.71
2-4 Family                     37      10,446,904      12.77      8.348       355        75.49       631     52.46
Condo                          16       3,990,463       4.88      8.563       353        82.30       626     52.93
Planned Unit Development       17       3,847,702       4.70      8.419       353        79.41       602     53.57
------------------------------------------------------------------------------------------------------------------
Total:                        394      81,816,229     100.00      8.433       353        79.48       611     52.73
------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                  % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                          of          Date        Date        Gross    Remaining   Combined    Average    Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Loan Purpose         Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------

Refinance--Cashout        220      47,099,738      57.57      8.425       356        77.25       593     52.85
Purchase                  154      30,463,394      37.23      8.478       348        82.88       639     52.69
Refinance--Rate Term       20       4,253,096       5.20      8.196       351        79.81       603     51.75
--------------------------------------------------------------------------------------------------------------
Total:                    394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Documentation Level      Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------

Full Documentation         251      50,062,909      61.19      8.272       353        79.76       597     53.01
Stated Documentation       127      29,227,235      35.72      8.698       352        78.68       633     52.25
Limited Documentation       16       2,526,084       3.09      8.557       341        83.29       622     52.76
---------------------------------------------------------------------------------------------------------------
Total:                     394      81,816,229     100.00      8.433       353        79.48       611     52.73
---------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

CREDIT SCORE



                                          % of
                                        Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                  of          Date        Date        Gross    Remaining   Combined    Average    Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------

500--524           46       8,820,991      10.78      9.313       357        70.43       514     52.96
525--549           32       5,493,457       6.71      9.175       357        73.14       538     52.76
550--574           40       7,724,218       9.44      8.802       357        81.01       561     52.99
575--599           49       9,259,776      11.32      8.396       356        81.19       588     52.55
600--624           81      15,815,727      19.33      8.400       349        80.25       612     52.60
625--649           69      15,533,088      18.99      8.142       352        81.19       635     52.56
650--674           35       8,146,048       9.96      8.348       349        80.95       660     53.00
675--699           23       6,343,753       7.75      7.657       348        81.85       687     52.77
700--724           10       2,755,773       3.37      7.513       354        85.80       712     53.20
725--749            4       1,206,470       1.47      7.746       355        81.66       737     52.15
750--774            4         559,304       0.68      8.374       328        84.18       761     52.22
775--799            1         157,623       0.19      6.725       355        71.82       790     50.52
------------------------------------------------------------------------------------------------------
Total:            394      81,816,229     100.00      8.433       353        79.48       611     52.73
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 790
Non-Zero Weighted Average: 611

PREPAYMENT PENALTY TERM



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of          Date        Date        Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------

0                            110      20,900,961      25.55      8.803       351        81.58       614     52.65
12                            17       5,628,463       6.88      8.157       356        78.28       611     52.96
24                           167      37,905,483      46.33      8.213       354        78.67       614     52.63
36                            98      17,149,615      20.96      8.543       351        79.07       599     53.01
60                             2         231,706       0.28      9.600       358        82.86       507     51.02
-----------------------------------------------------------------------------------------------------------------
Total:                       394      81,816,229     100.00      8.433       353        79.48       611     52.73
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                      % of
                                    Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
              of          Date        Date        Gross    Remaining   Combined    Average    Back
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------

1st Lien      359      79,693,120      97.41      8.355       356        78.94       609     52.74
2nd Lien       35       2,123,108       2.59     11.378       212        99.91       655     52.53
--------------------------------------------------------------------------------------------------
Total:        394      81,816,229     100.00      8.433       353        79.48       611     52.73
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET DTI GT 50                                        394 records
                                                            Balance: $81,816,229
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                        of          Date        Date        Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

0                       360      71,808,899      87.77      8.537       352        79.28       605     52.82
60                       34      10,007,330      12.23      7.691       357        80.95       653     52.09
------------------------------------------------------------------------------------------------------------
Total:                  394      81,816,229     100.00      8.433       353        79.48       611     52.73
------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 Zip Code Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

91206                                1         988,299       1.21      6.600       356        90.00       695     59.34
92805                                2         833,323       1.02      9.583       357        88.38       660     55.32
92584                                2         780,857       0.95      7.708       357        86.91       632     55.61
92563                                2         756,446       0.92      7.694       356        86.30       608     53.58
91436                                1         749,406       0.92      8.390       357        78.95       650     56.48
Other                              386      77,707,897      94.98      8.459       352        79.12       608     52.55
-----------------------------------------------------------------------------------------------------------------------
Total:                             394      81,816,229     100.00      8.433       353        79.48       611     52.73
-----------------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Los Angeles                      8       3,302,043       4.04      7.205       357        74.79       642     52.05
Las Vegas                       10       2,584,452       3.16      7.947       354        79.92       641     52.55
Chicago                         11       2,016,040       2.46      8.621       355        79.99       618     53.29
Miami                           10       1,842,038       2.25      8.374       341        76.59       594     52.66
Anaheim                          3       1,393,290       1.70      8.631       357        84.33       668     53.34
Other                          352      70,678,365      86.39      8.501       352        79.65       607     52.75
-------------------------------------------------------------------------------------------------------------------
Total:                         394      81,816,229     100.00      8.433       353        79.48       611     52.73
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average    Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
----------------------------------------------------------------------------------------------------------

Accredited            111      17,218,359      15.63      8.319       352        72.21       623     41.04
Chapel                  1          48,043       0.04     12.900       173       100.00       634     37.86
Encore                 54      10,230,057       9.28      8.352       353        78.25       620     40.41
First Banc             19       1,503,611       1.36     10.633       242        83.98       604     40.53
First Horizon          40       5,041,431       4.58      8.657       352        81.69       620     38.97
First NLC             518      48,730,449      44.22      9.296       298        85.77       633     42.23
Flex Point              4         598,157       0.54      7.552       356        70.46       604     36.83
Funding America        28       2,077,490       1.89     10.151       342        85.42       622     41.44
Lenders Direct         18       1,363,065       1.24     10.238       189        84.34       672     43.34
Lime Financial         19       1,467,414       1.33     10.503       236        96.55       653     41.31
Mandalay               20       1,668,030       1.51     10.965       195        98.35       686     45.55
Master Financial       73       7,682,535       6.97     10.531       222        93.92       650     40.83
Maxim                   6         287,932       0.26     11.694       226        97.29       622     44.08
New Century            22       2,696,898       2.45      8.426       353        78.95       656     41.79
Quick Loan              4       1,002,745       0.91      7.378       356        69.90       593     44.40
Rose Mortgage          45       8,578,457       7.78      8.763       350        78.42       625     45.20
----------------------------------------------------------------------------------------------------------
Total:                982     110,194,672     100.00      9.118       311        82.69       631     41.85
----------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Product with IO term      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------

Fixed--10 Year                  7        496,311       0.45      8.252       117        64.85       631     41.82
Fixed--15 Year                 23      1,940,686       1.76      8.448       177        69.52       634     39.55
Fixed--20 Year                 24      1,990,559       1.81      8.449       237        75.91       634     42.81
Fixed--25 Year                  3        245,515       0.22      8.559       298        84.90       622     41.39
Fixed--30 Year                489     62,069,627      56.33      8.684       357        78.47       620     40.85
Balloon--15/30                354     23,914,670      21.70     11.437       176        99.11       657     43.93
Balloon--30/40                 67     14,725,319      13.36      7.933       357        78.80       627     42.76
Interest Only Fixed--30
   Year--60 mo. IO term        14      4,480,985       4.07      7.527       357        77.12       657     42.09
Interest Only Fixed--30
   Year--120 mo. IO term        1        331,000       0.30      6.750       357        79.95       638     37.02
-----------------------------------------------------------------------------------------------------------------
Total:                        982    110,194,672     100.00      9.118       311        82.69       631     41.85
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average    Back
Range of Gross Interest Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
            (%)                   Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

6.000--6.999                        55      13,464,554      12.22      6.755       347        68.38       677     41.24
7.000--7.999                       133      24,816,585      22.52      7.544       349        76.58       641     41.22
8.000--8.999                       192      25,051,441      22.73      8.531       347        79.16       611     40.85
9.000--9.999                       132      13,354,023      12.12      9.581       331        83.48       598     41.04
10.000--10.999                     142      11,101,766      10.07     10.594       255        91.80       637     42.37
11.000--11.999                     199      15,180,304      13.78     11.573       225        95.74       634     44.19
12.000--12.999                      90       5,480,080       4.97     12.427       221        99.74       634     44.42
13.000--13.999                      37       1,637,585       1.49     13.410       219        99.71       628     43.33
14.000--14.999                       2         108,333       0.10     14.151       257       100.00       637     47.49
-----------------------------------------------------------------------------------------------------------------------
Total:                             982     110,194,672     100.00      9.118       311        82.69       631     41.85
-----------------------------------------------------------------------------------------------------------------------


Minimum: 6.125
Maximum: 14.240
Weighted Average: 9.118

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
    Range of Cut-off Date          of          Date         Date       Gross    Remaining   Combined    Average    Back
    Principal Balances ($)      Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
                                  Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

1--25,000                           31         673,662       0.61     11.023       269        99.81       650     44.15
25,001--50,000                     191       7,479,765       6.79     11.382       239        95.85       638     40.80
50,001--75,000                     202      12,698,237      11.52     10.706       247        91.24       637     42.12
75,001--100,000                    163      14,250,549      12.93      9.724       279        86.00       629     40.83
100,001--125,000                   117      13,152,567      11.94      9.678       289        84.74       619     40.69
125,001--150,000                    71       9,726,909       8.83      9.044       322        81.76       612     41.13
150,001--175,000                    58       9,408,562       8.54      8.531       335        79.60       633     42.39
175,001--200,000                    33       6,226,792       5.65      8.429       351        78.10       620     44.19
200,001--225,000                    19       4,035,087       3.66      7.737       348        72.95       625     44.09
225,001--250,000                    25       5,953,953       5.40      8.286       353        72.64       615     42.11
250,001--275,000                     7       1,817,319       1.65      8.205       357        72.59       616     45.70
275,001--300,000                    14       4,094,433       3.72      7.978       343        76.55       627     43.51
300,001--325,000                    10       3,104,749       2.82      8.196       357        78.53       652     41.15
325,001--350,000                     7       2,350,470       2.13      7.292       357        82.66       641     41.97
350,001--375,000                     9       3,249,959       2.95      7.795       356        79.17       641     42.77
375,001--400,000                     5       1,958,165       1.78      7.566       356        64.32       662     36.06
400,001--425,000                     5       2,039,227       1.85      7.263       357        78.92       645     37.32
425,001--450,000                     1         449,633       0.41      8.200       357        90.00       588     35.67
450,001--475,000                     1         475,000       0.43      9.150       358        86.36       673     53.11
475,001--500,000                     3       1,462,939       1.33      7.316       356        85.31       625     44.72
500,001--750,000                    10       5,586,693       5.07      8.094       357        78.48       676     42.84
-----------------------------------------------------------------------------------------------------------------------
Total:                             982     110,194,672     100.00      9.118       311        82.69       631     41.85
-----------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 650,759
Average: 112,215

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average   Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

120                                  7         496,311       0.45      8.252       117        64.85       631     41.82
180                                377      25,855,356      23.46     11.213       176        96.89       656     43.63
240                                 24       1,990,559       1.81      8.449       237        75.91       634     42.81
300                                  3         245,515       0.22      8.559       298        84.90       622     41.39
360                                571      81,606,930      74.06      8.477       357        78.46       623     41.25
-----------------------------------------------------------------------------------------------------------------------
Total:                             982     110,194,672     100.00      9.118       311        82.69       631     41.85
-----------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 314

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average   Back
  Range of Stated Remaining     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Terms (months)           Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

109--120                             7         496,311       0.45      8.252       117        64.85       631     41.82
169--180                           377      25,855,356      23.46     11.213       176        96.89       656     43.63
229--240                            24       1,990,559       1.81      8.449       237        75.91       634     42.81
289--300                             3         245,515       0.22      8.559       298        84.90       622     41.39
337--348                             1          73,261       0.07     10.240       348        99.97       615     32.30
349--360                           570      81,533,670      73.99      8.476       357        78.44       623     41.26
-----------------------------------------------------------------------------------------------------------------------
Total:                             982     110,194,672     100.00      9.118       311        82.69       631     41.85
-----------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 359
Weighted Average: 311

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      LTV Ratios (%)          Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

15.01--20.00                      1          26,276       0.02     11.800       357        16.97       518     31.07
20.01--25.00                      4         491,941       0.45      7.141       292        22.85       665     40.25
25.01--30.00                      2         224,053       0.20      7.139       258        27.44       668     43.85
30.01--35.00                      5         820,389       0.74      7.220       358        32.50       660     47.57
35.01--40.00                      4         706,845       0.64      8.693       358        37.32       591     39.63
40.01--45.00                     12       1,634,230       1.48      7.649       346        42.15       616     38.73
45.01--50.00                     14       2,094,298       1.90      7.700       357        48.17       631     42.18
50.01--55.00                      6         889,737       0.81      8.564       286        53.31       586     40.23
55.01--60.00                     21       3,230,754       2.93      7.381       331        57.78       624     43.56
60.01--65.00                     22       2,993,313       2.72      8.709       341        63.51       578     37.94
65.01--70.00                     39       6,476,654       5.88      8.320       349        68.31       625     38.76
70.01--75.00                     55       7,795,752       7.07      8.124       338        73.68       607     43.76
75.01--80.00                    156      25,447,537      23.09      8.186       351        79.62       633     40.04
80.01--85.00                     77      11,963,705      10.86      8.415       350        84.27       616     41.10
85.01--90.00                     66      11,002,531       9.98      8.627       351        89.33       624     43.38
90.01--95.00                     37       4,164,623       3.78      8.912       333        94.09       630     41.90
95.01--100.00                   461      30,232,035      27.44     11.340       218        99.95       653     43.56
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 82.69

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
Range of Minimum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
Range of Maximum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

INITIAL PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average   Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)      Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                         Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average   Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 982     110,194,672     100.00      9.118       311        82.69       631     41.85
---------------------------------------------------------------------------------------------------------------------
Total:                           982     110,194,672     100.00      9.118       311        82.69       631     41.85
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982     110,194,672     100.00      9.118         311      82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118         311      82.69       631     41.85
--------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
   Mortgaged Properties       Loans     Balance ($)    Balance     Rate(%)   (months)      LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                      218      26,461,064      24.01      9.671        260       86.56      647      42.21
Florida                         152      14,607,241      13.26      9.292        303       82.54      627      42.09
Texas                           134      10,567,851       9.59      8.706        321       82.00      621      39.34
New York                         41      10,519,125       9.55      7.686        352       70.91      669      43.68
Illinois                         70       7,147,212       6.49      9.424        308       86.01      611      42.15
New Jersey                       12       3,163,442       2.87      9.075        357       74.26      608      44.88
Massachusetts                    16       2,864,916       2.60      9.362        344       81.87      624      49.13
Pennsylvania                     29       2,701,516       2.45      8.799        343       78.49      599      42.18
Virginia                         23       2,678,881       2.43      9.236        329       79.64      616      44.14
Maryland                         15       2,587,535       2.35      8.371        344       83.07      666      38.37
Arizona                          26       2,395,730       2.17      9.044        307       79.63      628      42.31
Nevada                           19       2,075,884       1.88      8.956        292       91.19      655      42.62
Connecticut                      14       2,074,590       1.88      9.670        348       77.26      608      45.07
Michigan                         24       2,060,082       1.87      9.013        342       86.98      621      38.10
Washington                       16       1,637,664       1.49      9.269        294       87.05      631      41.21
Other                           173      16,651,940      15.11      9.194        337       85.10      610      39.69
--------------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118        311       82.69      631      41.85
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 43

OCCUPANCY



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number       Cut-off      Cut-off     Average    Average     Average   Weighted
                               of           Date        Date        Gross    Remaining   Combined    Average   Back
                            Mortgage     Principal    Principal   Interest      Term     Original     FICO     DTI
         Occupancy            Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Primary                        931     104,310,697     94.66        9.147        309      83.00       630      42.19
Investment                      47       5,587,028      5.07        8.539        351      76.68       643      35.93
Second Home                      4         296,947      0.27        9.813        295      88.08       658      33.83
--------------------------------------------------------------------------------------------------------------------
Total:                         982     110,194,672    100.00        9.118        311      82.69       631      41.85
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                        Aggregate   Aggregate  Weighted   Weighted  Weighted
                             Number      Cut-off     Cut-off    Average   Average    Average  Weighted
                               of         Date         Date      Gross   Remaining  Combined   Average   Back
                            Mortgage    Principal   Principal  Interest     Term    Original    FICO     DTI
       Property Type          Loans    Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
-------------------------------------------------------------------------------------------------------------

Single Family Residence        814     89,228,604     80.97      9.088      311       83.05      626    42.01
2-4 Family                      74     12,264,028     11.13      8.707      323       78.04      675    41.45
Planned Unit Development        41      4,365,542      3.96      9.566      303       84.60      613    37.60
Condo                           53      4,336,498      3.94     10.431      276       86.53      626    43.77
-------------------------------------------------------------------------------------------------------------
Total:                         982    110,194,672    100.00      9.118      311       82.69      631    41.85
-------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate   Aggregate  Weighted   Weighted  Weighted
                             Number      Cut-off     Cut-off    Average   Average    Average  Weighted
                               of          Date       Date       Gross   Remaining  Combined   Average  Back
                            Mortgage    Principal   Principal  Interest     Term    Original    FICO     DTI
       Loan Purpose           Loans    Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
-------------------------------------------------------------------------------------------------------------

Refinance--Cashout             440     64,178,436      58.24     8.412      343       76.26      619    41.62
Purchase                       468     35,629,176      32.33    10.637      246       94.32      655    42.44
Refinance--Rate Term            74     10,387,060       9.43     8.269      338       82.55      622    41.21
-------------------------------------------------------------------------------------------------------------
Total:                         982    110,194,672     100.00     9.118      311       82.69      631    41.85
-------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                        % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Documentation Level       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Full Documentation             444      55,149,259      50.05      8.521       331        80.68       615     40.74
Stated Documentation           486      49,922,970      45.30      9.771       291        84.29       648     43.56
Limited Documentation           52       5,122,443       4.65      9.166       291        88.75       641     37.45
-------------------------------------------------------------------------------------------------------------------
Total:                         982     110,194,672     100.00      9.118       311        82.69       631     41.85
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------
CREDIT SCORE


                                                        % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Credit Score           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

500--524                       45        5,359,097      4.86       9.740       349        73.34       511     42.36
525--549                       53        7,173,702      6.51       9.640       353        75.29       538     40.86
550--574                       47        5,699,854      5.17       9.153       352        76.01       564     39.86
575--599                       82        9,693,552      8.80       8.971       333        80.58       589     42.35
600--624                      170       18,474,761     16.77       9.206       307        84.49       615     41.96
625--649                      246       23,663,179     21.47       9.349       300        85.86       636     41.82
650--674                      156       17,998,477     16.33       9.008       300        84.36       662     43.33
675--699                       96       11,242,560     10.20       8.719       292        83.29       685     39.20
700--724                       42        4,803,780      4.36       8.609       279        85.22       710     43.08
725--749                       25        2,979,612      2.70       8.368       319        82.23       734     42.65
750--774                       10        1,408,328      1.28       8.874       288        84.86       760     44.57
775--799                        7        1,464,616      1.33       7.967       293        82.10       785     39.58
800 +                           3          233,153      0.21       9.934       223       100.00       805     46.18
-------------------------------------------------------------------------------------------------------------------
Total:                        982      110,194,672    100.00       9.118       311        82.69       631     41.85
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 631

PREPAYMENT PENALTY TERM



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date       Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Prepayment Penalty Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

0                              326      30,984,261      28.12      9.393       318        84.47       625     42.25
12                              47      11,152,005      10.12      8.002       336        72.55       670     42.55
24                             141      11,991,033      10.88     10.611       237        94.84       646     42.06
30                               2         462,470       0.42      9.230       357        70.42       590     42.34
36                             427      50,494,087      45.82      8.866       315        81.86       629     41.41
48                               1         145,964       0.13      8.500       359        36.50       529     43.94
60                              38       4,964,852       4.51      8.870       350        76.05       572     41.55
-------------------------------------------------------------------------------------------------------------------
Total:                         982     110,194,672     100.00      9.118       311        82.69       631     41.85
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 32

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

LIEN POSITION



                                      % of
                                    Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
              of          Date        Date        Gross    Remaining   Combined    Average    Back
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------

1st Lien      522      81,020,883      73.53      8.266       348        76.64       622     41.17
2nd Lien      460      29,173,789      26.47     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------
Total:        982     110,194,672     100.00      9.118       311        82.69       631     41.85
--------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                        of          Date        Date        Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------

0                       967     105,382,687      95.63      9.193       309        82.94       630     41.85
60                       14       4,480,985       4.07      7.527       357        77.12       657     42.09
120                       1         331,000       0.30      6.750       357        79.95       638     37.02
------------------------------------------------------------------------------------------------------------
Total:                  982     110,194,672     100.00      9.118       311        82.69       631     41.85
------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 Zip Code Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

11722                                4       1,120,125       1.02      8.264       324        73.46       643     46.44
91789                                2         709,220       0.64      9.798       319        84.00       621     28.09
92376                                5         661,978       0.60      9.729       318        94.91       630     49.61
10465                                1         650,759       0.59      6.250       358        80.00       782     31.78
91701                                2         616,099       0.56      6.945       357        76.21       702     47.93
Other                              968     106,436,490      96.59      9.148       310        82.76       630     41.87
-----------------------------------------------------------------------------------------------------------------------
Total:                             982     110,194,672     100.00      9.118       311        82.69       631     41.85
-----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET FIXED RATE                                       982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

TOP 5 CITY CONCENTRATIONS



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Miami                           26       2,175,692       1.97      9.678       270        85.41       643     43.99
Los Angeles                     13       2,171,954       1.97      8.927       281        85.04       665     45.44
Chicago                         21       2,059,924       1.87      9.679       299        86.11       601     41.97
Las Vegas                       17       1,493,392       1.36      9.570       267        94.56       652     41.61
Houston                         23       1,340,214       1.22      9.278       272        81.46       618     40.00
Other                          882     100,953,495      91.61      9.089       314        82.36       631     41.75
-------------------------------------------------------------------------------------------------------------------
Total:                         982     110,194,672     100.00      9.118       311        82.69       631     41.85
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

ORIGINATOR



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Originator            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Accredited                     40       5,915,738      11.91      9.221       356        79.56       653     42.20
Encore                         31       7,234,186      14.57      8.599       356        78.45       644     40.11
First Banc                      3         348,707       0.70      8.827       340        82.49       667     44.18
First Horizon                  38       5,323,566      10.72      9.672       358        88.45       656     39.13
First NLC                     100      15,233,867      30.68      8.722       356        82.87       659     38.31
Flex Point                      4         962,982       1.94      8.915       356        61.88       622     39.96
Funding America                 3         375,833       0.76      8.935       355        88.73       724     40.40
Lenders Direct                  2         310,422       0.63      8.538       355        90.95       667     41.92
Lime Financial                  3         405,153       0.82      8.662       357        88.76       670     47.01
Mandalay                        3         376,605       0.76      9.923       353        90.00       660     46.08
Master Financial                2         314,945       0.63      7.872       356        78.31       695     44.81
Maxim                           1          78,143       0.16     10.150       358        90.00       631     45.43
New Century                    55       9,681,409      19.50      9.547       358        81.59       637     38.88
Quick Loan                      1         772,045       1.55      8.350       356        90.00       648     43.65
Rose Mortgage                   8       2,319,653       4.67      8.618       358        79.36       664     43.73
------------------------------------------------------------------------------------------------------------------
Total:                        294      49,653,254     100.00      9.026       356        81.90       652     39.87
------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average    Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Product with IO term          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                         1          81,574       0.16      8.050       117        62.04       618     48.31
Fixed--15 Year                         1          51,302       0.10      8.990       175        80.00       736     30.69
Fixed--30 Year                        41       4,949,311       9.97      8.650       357        76.68       640     36.22
Balloon--15/30                         1          33,956       0.07     11.500       176        90.00       667     49.81
Balloon--30/40                         2         156,885       0.32      9.273       356        76.95       632     42.46
ARM--2 Year/6 Month
   Balloon 30/40                      45       9,809,361      19.76      9.294       357        80.11       636     38.77
ARM--3 Year/6 Month
   Balloon 30/40                       8       1,306,618       2.63      8.973       357        80.99       665     35.91
ARM--2 Year/6 Month                  152      27,541,917      55.47      9.065       357        83.73       656     41.49
ARM--3 Year/6 Month                   33       3,456,734       6.96      8.921       357        81.73       657     42.32
ARM--5 Year/6 Month                    3         482,397       0.97      8.407       359        82.98       725     39.35
Interest Only Fixed--30
   Year--60 mo. IO term                1         314,000       0.63      6.150       357        78.50       683     24.30
Interest Only ARM--2
   Year/6 Month--60 mo. IO term        4         654,450       1.32      9.912       355        77.66       636     36.75
Interest Only ARM--3
   Year/6 Month--60 mo. IO term        2         814,750       1.64      7.990       358        81.82       677     23.97
-------------------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652     39.87
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted   Weighted    Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
 Range of Gross Interest   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

6.000--6.999                    4       1,296,746       2.61      6.774       355        82.35       670     34.61
7.000--7.999                   45      10,414,295      20.97      7.713       357        75.76       672     37.94
8.000--8.999                   88      13,918,464      28.03      8.601       355        81.37       654     39.02
9.000--9.999                   96      15,477,373      31.17      9.553       357        84.46       648     41.16
10.000--10.999                 46       7,362,635      14.83     10.478       357        85.98       632     42.16
11.000--11.999                  7         542,004       1.09     11.289       346        74.34       550     44.10
12.000--12.999                  7         594,066       1.20     12.761       358        89.62       642     40.39
13.000--13.999                  1          47,671       0.10     13.525       357        90.00       649     20.55
------------------------------------------------------------------------------------------------------------------
Total:                        294      49,653,254     100.00      9.026       356        81.90       652     39.87
------------------------------------------------------------------------------------------------------------------


Minimum: 6.150
Maximum: 13.525
Weighted Average: 9.026

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
  Range of Cut-off Date    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Principal Balances ($)      Loans    Balance ($)     Balance    Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

25,001--50,000                 15         629,833       1.27     10.157       347        82.36       648     35.82
50,001--75,000                 43       2,656,273       5.35      9.878       353        83.15       638     38.67
75,001--100,000                45       3,890,329       7.83      9.174       352        81.30       640     38.79
100,001--125,000               38       4,177,757       8.41      9.277       357        81.89       644     41.08
125,001--150,000               21       2,919,608       5.88      8.972       357        77.58       656     41.85
150,001--175,000               26       4,167,107       8.39      8.953       357        77.95       652     36.62
175,001--200,000               24       4,523,494       9.11      8.919       357        83.06       655     41.42
200,001--225,000               19       3,995,318       8.05      9.232       358        83.06       652     39.84
225,001--250,000               14       3,352,423       6.75      9.300       357        81.56       648     40.77
250,001--275,000                8       2,092,132       4.21      8.818       356        88.70       653     44.46
275,001--300,000                4       1,136,548       2.29      9.002       358        90.01       657     41.44
300,001--325,000                6       1,899,833       3.83      8.593       357        83.90       651     42.38
325,001--350,000                8       2,727,106       5.49      8.611       358        77.79       644     42.40
350,001--375,000                2         723,052       1.46      9.015       356        71.77       691     39.70
375,001--400,000                5       1,938,297       3.90      8.189       357        85.66       681     36.27
400,001--425,000                2         828,884       1.67      7.418       355        77.12       660     38.05
425,001--450,000                1         434,721       0.88     10.090       358        95.00       628     50.09
450,001--475,000                3       1,406,826       2.83      9.475       358        91.68       683     42.23
475,001--500,000                4       1,929,799       3.89      9.462       358        83.70       637     41.36
500,001--750,000                5       3,451,870       6.95      8.611       357        75.43       658     32.49
750,001--1,000,000              1         772,045       1.55      8.350       356        90.00       648     43.65
------------------------------------------------------------------------------------------------------------------
Total:                        294      49,653,254     100.00      9.026       356        81.90       652     39.87
------------------------------------------------------------------------------------------------------------------


Minimum: 33,956
Maximum: 772,045
Average: 168,889

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------------

120                                  1          81,574       0.16      8.050       117        62.04       618     48.31
180                                  2          85,258       0.17      9.990       175        83.98       709     38.30
360                                291      49,486,422      99.66      9.026       357        81.92       652     39.85
-----------------------------------------------------------------------------------------------------------------------
Total:                             294      49,653,254     100.00      9.026       356        81.90       652     39.87
-----------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 359

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
  Range of Stated Remaining     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Terms (months)            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------------

109--120                             1          81,574       0.16      8.050       117        62.04       618     48.31
169--180                             2          85,258       0.17      9.990       175        83.98       709     38.30
349--360                           291      49,486,422      99.66      9.026       357        81.92       652     39.85
-----------------------------------------------------------------------------------------------------------------------
Total:                             294      49,653,254     100.00      9.026       356        81.90       652     39.87
-----------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 359
Weighted Average: 356

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

25.01--30.00                      1         109,872       0.22      8.725       358        25.14       605     32.38
30.01--35.00                      1         199,537       0.40      7.340       357        31.75       673     40.64
35.01--40.00                      1         139,947       0.28      9.425       358        40.00       617     24.10
40.01--45.00                      1         169,662       0.34      9.500       356        40.96       521     49.84
45.01--50.00                      7       1,033,956       2.08      8.338       357        48.51       629     35.42
50.01--55.00                      7       1,712,616       3.45      8.656       356        52.40       612     33.47
55.01--60.00                      2         194,687       0.39      9.211       356        57.02       609     44.71
60.01--65.00                      9       1,610,014       3.24      8.916       345        62.60       618     43.27
65.01--70.00                     17       2,939,440       5.92      8.450       357        68.83       632     37.07
70.01--75.00                     15       2,038,664       4.11      8.969       357        74.60       648     43.58
75.01--80.00                     55       9,293,851      18.72      8.897       356        79.82       640     38.82
80.01--85.00                     57      10,131,032      20.40      8.719       357        84.61       657     40.12
85.01--90.00                     84      12,818,429      25.82      9.353       357        89.79       660     39.86
90.01--95.00                     37       7,261,548      14.62      9.528       358        94.83       679     42.37
--------------------------------------------------------------------------------------------------------------------
Total:                          294      49,653,254     100.00      9.026       356        81.90       652     39.87
--------------------------------------------------------------------------------------------------------------------


Minimum: 25.14
Maximum: 95.00
Weighted Average: 81.90

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 47       5,587,028      11.25       8.539      351        76.68       643     35.93
4.001--4.500                      1          75,494       0.15       7.820      358        84.00       629     40.28
4.501--5.000                      3         730,234       1.47       7.797      358        83.87       680     48.78
5.001--5.500                     29       6,353,810      12.80       8.434      356        78.90       653     41.14
5.501--6.000                     50       8,455,328      17.03       9.131      357        85.24       665     39.03
6.001--6.500                     61      10,078,126      20.30       9.625      358        85.12       650     40.72
6.501--7.000                     28       6,802,736      13.70       8.807      357        75.03       641     40.53
7.001--7.500                     57       7,607,977      15.32       8.918      357        84.11       660     38.77
7.501--8.000                     10       2,543,037       5.12       9.636      357        83.53       637     40.14
8.001--8.500                      3         442,920       0.89       9.894      357        89.94       634     36.61
8.501--9.000                      3         856,609       1.73       9.617      358        91.37       649     51.12
9.001--9.500                      1          63,982       0.13      12.125      359        80.00       548     48.96
9.501--10.000                     1          55,974       0.11      12.999      358        80.00       593     42.33
--------------------------------------------------------------------------------------------------------------------
Total:                          294      49,653,254     100.00       9.026      356        81.90       652     39.87
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.320
Maximum: 9.999
Non-Zero Weighted Average: 6.481

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
 Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 47       5,587,028      11.25       8.539      351        76.68       643     35.93
6.501--7.000                      1         409,464       0.82       6.950      352        85.00       651     36.76
7.001--7.500                      9       2,238,830       4.51       7.378      357        72.76       684     48.35
7.501--8.000                     33       7,590,927      15.29       7.872      357        76.42       668     37.58
8.001--8.500                     22       4,167,607       8.39       8.321      357        85.52       662     36.84
8.501--9.000                     47       7,547,127      15.20       8.806      357        83.14       654     39.77
9.001--9.500                     42       7,729,724      15.57       9.328      357        86.10       658     40.23
9.501--10.000                    40       6,334,616      12.76       9.811      357        82.21       639     42.14
10.001 -10.500                   25       4,513,154       9.09      10.303      357        84.30       623     43.62
10.501--11.000                   18       2,623,834       5.28      10.789      358        88.91       650     39.29
11.001--11.500                    2         240,423       0.48      11.080      358        71.79       538     48.71
11.501--12.000                    1          76,455       0.15      11.875      358        75.00       546     39.13
12.001--12.500                    1          63,982       0.13      12.125      359        80.00       548     48.96
12.501--13.000                    6         530,084       1.07      12.838      358        90.78       654     39.35
--------------------------------------------------------------------------------------------------------------------
Total:                          294      49,653,254     100.00       9.026      356        81.90       652     39.87
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.950
Maximum: 12.999
Non-Zero Weighted Average: 9.088

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
 Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 47       5,587,028      11.25       8.539      351        76.68       643     35.93
<= 12.500                         4       1,747,956       3.52       7.310      355        77.82       661     49.35
12.501--13.000                    5       1,103,556       2.22       7.899      356        79.24       663     30.83
13.001--13.500                    2         476,563       0.96       8.318      357        90.00       598     26.67
13.501--14.000                    9       2,151,995       4.33       8.160      358        73.76       656     38.69
14.001--14.500                   12       2,492,791       5.02       8.155      357        81.03       683     43.73
14.501--15.000                   28       6,288,947      12.67       8.203      357        76.26       661     38.76
15.001--15.500                   24       4,654,033       9.37       9.005      357        81.34       657     38.17
15.501--16.000                   46       7,142,184      14.38       8.908      357        83.32       657     40.57
16.001--16.500                   37       6,580,492      13.25       9.383      357        87.41       660     39.40
16.501--17.000                   34       4,906,653       9.88       9.817      358        85.20       639     42.23
17.001--17.500                   20       3,106,943       6.26      10.273      358        85.44       615     44.98
17.501--18.000                   17       2,553,281       5.14      10.826      358        88.90       651     38.88
18.001--18.500                    2         240,423       0.48      11.080      358        71.79       538     48.71
18.501--19.000                    1          76,455       0.15      11.875      358        75.00       546     39.13
19.001--19.500                    1          63,982       0.13      12.125      359        80.00       548     48.96
19.501--20.000                    5         479,972       0.97      12.870      358        91.39       666     39.57
--------------------------------------------------------------------------------------------------------------------
Total:                          294      49,653,254     100.00       9.026      356        81.90       652     39.87
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.950
Maximum: 19.999
Non-Zero Weighted Average: 15.677

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average   Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)       Loans     Balance ($)     Balance    Rate(%)    (months)      LTV      Score     Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  47       5,587,028      11.25      8.539       351        76.68       643     35.93
1.000                              1         195,830       0.39     10.100       358        80.00       648     48.37
1.500                             45       6,949,053      14.00      9.303       357        79.79       649     42.64
2.000                             70      14,616,959      29.44      9.128       357        79.80       640     38.68
3.000                            131      22,304,385      44.92      8.986       357        85.25       662     40.69
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 3.000
Non-Zero Weighted Average: 2.423

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date      Gross     Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  47       5,587,028      11.25      8.539       351        76.68       643     35.93
1.000                             79      16,422,785      33.07      8.965       357        83.18       656     41.05
1.500                            167      27,508,838      55.40      9.168       358        82.33       651     39.93
2.000                              1         134,603       0.27      7.600       356        51.92       637     45.88
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.315

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date         Date       Gross     Remaining   Combined    Average   Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Next Rate Adjustment Dates     Loans     Balance ($)    Balance     Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  47       5,587,028      11.25      8.539       351        76.68       643     35.93
December 2007                      2         329,088       0.66      9.566       351        56.68       579     33.63
January 2008                       3         802,291       1.62      8.574       352        85.67       636     41.46
February 2008                      1          74,738       0.15      9.550       353        56.82       565     48.30
March 2008                         3         371,207       0.75      9.214       354        82.34       696     48.53
April 2008                         6         946,811       1.91      8.638       355        80.57       645     37.71
May 2008                          32       6,739,580      13.57      8.902       356        81.20       645     40.08
June 2008                         55      10,017,131      20.17      8.896       357        80.12       649     40.99
July 2008                         89      16,687,460      33.61      9.405       358        84.95       654     40.93
August 2008                       10       2,037,421       4.10      9.297       359        86.89       663     40.03
January 2009                       1         190,785       0.38      7.875       352        85.00       649     26.94
February 2009                      1         116,584       0.23      8.690       354        90.00       646     37.09
April 2009                         1          70,398       0.14     10.200       355        85.00       585     42.24
May 2009                           1         101,805       0.21      9.690       356        85.00       640     33.87
June 2009                         10       1,053,501       2.12      8.564       357        82.02       691     43.40
July 2009                         29       4,045,030       8.15      8.857       358        80.90       657     37.37
July 2011                          1         194,413       0.39      7.900       358        80.00       724     34.88
August 2011                        2         287,984       0.58      8.750       359        85.00       725     42.37
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
Geographic Distribution of    Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Mortgaged Properties           Loans     Balance ($)    Balance     Rate(%)   (months)      LTV       Score     Ratio
---------------------------------------------------------------------------------------------------------------------

California                        52      16,204,407      32.64      8.849       356        79.67       649     38.76
Florida                           50       8,476,637      17.07      9.080       357        84.60       656     40.44
Illinois                          30       4,588,552       9.24      8.950       357        80.51       640     43.91
New York                           6       1,900,320       3.83      8.909       358        78.75       669     39.67
Texas                             17       1,485,591       2.99      9.255       344        81.49       631     35.39
Tennessee                         11       1,244,179       2.51      9.268       350        84.95       692     38.83
Georgia                           11       1,156,028       2.33      9.002       357        87.97       681     44.28
Michigan                          14       1,100,981       2.22      9.557       357        84.25       616     40.52
Pennsylvania                      11       1,041,000       2.10      9.236       356        81.37       627     39.01
Maryland                           7       1,032,036       2.08      8.287       357        79.12       663     36.23
Virginia                           6         867,723       1.75      9.059       357        81.08       639     39.31
Missouri                          10         823,317       1.66      9.540       357        85.06       655     40.35
Colorado                           5         820,685       1.65      8.812       358        87.41       700     40.47
Ohio                               8         756,295       1.52     10.925       357        87.40       637     39.12
Idaho                              5         738,117       1.49     10.087       358        87.00       653     34.64
Other                             51       7,417,387      14.94      9.004       357        82.14       653     40.62
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 37

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Occupancy             Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Investment                       294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date         Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
       Property Type           Loans     Balance ($)    Balance     Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Single Family Residence          200      29,717,044      59.85      9.113       356        83.91       655     40.76
2-4 Family                        68      15,351,403      30.92      8.794       357        78.84       649     37.75
Condo                             19       3,347,282       6.74      9.330       358        82.81       642     41.44
Planned Unit Development           7       1,237,525       2.49      8.988       357        68.85       627     40.45
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date         Date       Gross     Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Loan Purpose           Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Refinance--Cashout               150      25,553,934      51.46      8.844       356        76.77       642     39.61
Purchase                         131      21,511,917      43.32      9.313       357        88.60       661     40.15
Refinance--Rate Term              13       2,587,403       5.21      8.431       357        76.73       674     40.05
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date      Gross     Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Documentation Level        Loans     Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Stated Documentation             158      28,121,069      56.63      9.380       357        82.12       654     41.33
Full Documentation               113      17,433,550      35.11      8.610       357        81.12       647     38.85
Limited Documentation             23       4,098,635       8.25      8.363       352        83.67       656     34.18
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

CREDIT SCORE



                                                          % of
                                                        Mortgage
                                                         Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off       Cut-off    Average    Average    Average    Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Credit Score             Loans    Balance ($)     Balance    Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

500--524                          6          729,032       1.47     10.552       356        68.40       518     46.64
525--549                          9          878,115       1.77     10.343       357        67.98       541     40.53
550--574                         10        1,346,557       2.71      9.286       356        63.00       566     41.64
575--599                         24        4,190,917       8.44      9.139       357        76.95       589     35.12
600--624                         43        6,707,615      13.51      9.270       354        78.22       611     42.12
625--649                         64       11,748,854      23.66      9.429       357        85.17       638     42.05
650--674                         52        7,851,372      15.81      8.594       356        82.61       663     41.24
675--699                         39        8,354,760      16.83      8.542       357        82.52       686     36.36
700--724                         15        2,857,303       5.75      8.891       358        89.64       711     37.80
725--749                         20        3,414,763       6.88      8.656       355        85.34       738     37.49
750--774                         10        1,424,708       2.87      8.702       357        87.91       755     42.79
775--799                          2          149,257       0.30      9.650       358        90.00       792     36.74
---------------------------------------------------------------------------------------------------------------------
Total:                          294       49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 796
Non-Zero Weighted Average: 652

PREPAYMENT PENALTY TERM



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted    Weighted
                               Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                 of          Date        Date       Gross     Remaining    Combined   Average   Back
                              Mortgage    Principal    Principal   Interest      Term      Original    FICO      DTI
  Prepayment Penalty Term       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

0                                 92     14,199,733      28.60       9.375       356        84.11       655     42.03
12                                16      4,080,698       8.22       8.773       357        82.40       665     42.13
24                               117     22,062,143      44.43       9.031       357        81.23       646     39.44
36                                62      8,345,259      16.81       8.485       357        80.88       662     35.90
60                                 7        965,420       1.94       9.534       348        71.31       607     42.56
---------------------------------------------------------------------------------------------------------------------
Total:                           294     49,653,254     100.00       9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
             Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
           Position             Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

1st Lien                        293       49,619,298      99.93      9.024       357        81.89       652     39.86
2nd Lien                          1           33,956       0.07     11.500       176        90.00       667     49.81
--------------------------------------------------------------------------------------------------------------------
Total:                          294       49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET INVESTOR                                         294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Interest Only Term         Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

0                                287      47,870,054      96.41      9.050       356        81.98       651     40.28
60                                 7       1,783,200       3.59      8.371       357        79.71       663     28.72
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                                         % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
       Top 5 Zip Code         Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       Concentrations           Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

90806                              1         772,045       1.55      8.350       356        90.00       648     43.65
90057                              1         748,286       1.51      7.400       357        75.00       686     50.57
90029                              1         739,593       1.49     10.500       356        80.00       646     34.71
90018                              1         700,000       1.41      7.990       358        81.30       678     21.36
33060                              2         692,522       1.39      9.321       357        66.16       612     38.56
Other                            288      46,000,808      92.64      9.051       356        82.15       652     40.01
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Top 5 City Concentrations      Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Los Angeles                        5       3,216,629       6.48      8.321       357        73.75       653     32.84
Chicago                           18       3,192,866       6.43      8.962       357        81.47       640     43.60
Pompano Beach                      4       1,071,663       2.16      9.036       357        72.29       642     42.09
Long Beach                         1         772,045       1.55      8.350       356        90.00       648     43.65
Glendale                           2         726,739       1.46     10.173       358        74.71       588     43.60
Other                            264      40,673,312      81.91      9.079       356        82.80       654     39.93
---------------------------------------------------------------------------------------------------------------------
Total:                           294      49,653,254     100.00      9.026       356        81.90       652     39.87
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

ORIGINATOR



                                              % of
                                            Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average    Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------

Accredited             49      13,082,792       8.05      7.589       358        79.01       671     43.57
Chapel                  6       1,885,075       1.16      7.535       351        80.00       652     46.35
Encore                 37      13,880,070       8.54      7.604       355        78.81       665     43.12
First Banc             19       5,514,935       3.39      7.688       354        80.26       633     42.52
First Horizon          16       5,181,741       3.19      8.844       357        84.22       664     44.38
First NLC             212      61,420,801      37.80      7.898       357        80.40       664     43.71
Flex Point              3         737,764       0.45      8.152       355        72.49       607     37.27
Funding America         4       1,241,600       0.76      7.255       355        80.00       664     42.21
Lenders Direct          5       1,831,996       1.13      7.821       353        80.12       648     42.49
Lime Financial         12       4,453,000       2.74      7.554       355        80.00       657     46.57
Mandalay                7       1,907,952       1.17      7.687       354        80.02       673     44.57
Master Financial       32      11,908,630       7.33      7.740       355        83.40       663     42.18
New Century           107      31,578,149      19.43      7.566       358        81.46       651     43.23
Quick Loan              3         933,500       0.57      7.240       357        77.18       642     45.70
Rose Mortgage          19       6,950,000       4.28      7.702       357        80.03       637     38.16
----------------------------------------------------------------------------------------------------------
Total:                531     162,508,006     100.00      7.762       357        80.60       659     43.27
----------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                              % of
                                                            Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                      of          Date        Date        Gross    Remaining   Combined    Average    Back
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Product with IO term            Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------------

Interest Only ARM--2 Year/6
   Month--24 mo. IO term                2         431,400       0.27      7.225       358        79.45       606     29.07
Interest Only ARM--3 Year/6
   Month--36 mo. IO term                3         639,500       0.39      7.938       358        77.28       631     39.93
Interest Only Fixed--30 Year--60
   mo. IO term                         14       4,480,985       2.76      7.527       357        77.12       657     42.09
Interest Only ARM--2 Year/6
   Month--60 mo. IO term              421     132,088,152      81.28      7.780       356        80.77       658     43.38
Interest Only ARM--3 Year/6
   Month--60 mo. IO term               81      22,362,444      13.76      7.772       357        80.65       666     43.30
Interest Only ARM--5 Year/6
   Month--60 mo. IO term                5       1,418,400       0.87      6.921       358        76.10       686     42.26
Interest Only Fixed--30
   Year--120 mo. IO term                1         331,000       0.20      6.750       357        79.95       638     37.02
Interest Only ARM--2 Year/6
   Month--120 mo. IO term               1         186,686       0.11      8.000       358        80.00       641     46.89
Interest Only ARM--3 Year/6
   Month--120 mo. IO term               1          92,000       0.06      7.250       359        80.00       652     44.60
Interest Only ARM--5 Year/6
   Month--120 mo. IO term               2         477,439       0.29      8.188       357        83.29       646     44.81
--------------------------------------------------------------------------------------------------------------------------
Total:                                531     162,508,006     100.00      7.762       357        80.60       659     43.27
--------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Gross Interest Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
             (%)                  Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

5.000--5.999                         2         572,938       0.35      5.804       358        65.50       673     44.44
6.000--6.999                        85      25,390,729      15.62      6.734       357        78.05       663     43.29
7.000--7.999                       265      85,140,149      52.39      7.538       356        80.41       660     42.66
8.000--8.999                       137      38,660,074      23.79      8.421       357        81.59       657     43.86
9.000--9.999                        39      11,629,803       7.16      9.326       357        84.42       650     45.49
10.000--10.999                       3       1,114,313       0.69     10.145       358        86.49       646     44.86
-----------------------------------------------------------------------------------------------------------------------
Total:                             531     162,508,006     100.00      7.762       357        80.60       659     43.27
-----------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 10.965
Weighted Average: 7.762

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                  Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                            of          Date        Date        Gross    Remaining   Combined    Average    Back
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------------

50,001--75,000                1          72,800       0.04      9.590       357        80.00       630     47.30
75,001--100,000              10         878,879       0.54      7.859       357        79.31       627     43.00
100,001--125,000             16       1,804,208       1.11      8.123       357        74.02       660     38.76
125,001--150,000             20       2,755,396       1.70      7.876       356        78.86       658     41.62
150,001--175,000             25       4,068,308       2.50      7.825       357        80.95       672     42.79
175,001--200,000             57      10,629,953       6.54      7.965       357        79.42       663     42.58
200,001--225,000             51      10,935,227       6.73      7.805       357        80.18       650     42.60
225,001--250,000             49      11,602,322       7.14      7.736       357        78.71       648     43.77
250,001--275,000             40      10,544,077       6.49      7.794       357        80.79       663     44.18
275,001--300,000             35      10,052,404       6.19      7.531       357        79.71       645     43.24
300,001--325,000             22       6,868,380       4.23      7.480       357        80.27       667     40.88
325,001--350,000             26       8,802,686       5.42      7.845       356        82.86       657     42.22
350,001--375,000             30      10,848,988       6.68      7.877       357        80.64       663     43.90
375,001--400,000             27      10,507,241       6.47      7.696       357        80.68       673     44.46
400,001--425,000             21       8,648,929       5.32      7.662       356        80.53       660     44.86
425,001--450,000             16       7,033,524       4.33      7.660       356        82.03       640     43.97
450,001--475,000             11       5,076,400       3.12      7.613       357        81.96       670     44.75
475,001--500,000             24      11,743,210       7.23      7.769       356        79.42       659     43.90
500,001--750,000             46      26,225,078      16.14      7.744       356        82.22       659     43.21
750,001--1,000,000            4       3,409,996       2.10      8.239       354        80.16       688     39.40
----------------------------------------------------------------------------------------------------------------
Total:                      531     162,508,006     100.00      7.762       357        80.60       659     43.27
----------------------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

360                                531     162,508,006     100.00      7.762       357        80.60       659     43.27
-----------------------------------------------------------------------------------------------------------------------
Total:                             531     162,508,006     100.00      7.762       357        80.60       659     43.27
-----------------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Terms (months)           Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------

349--360                       531     162,508,006     100.00      7.762       357        80.60       659     43.27
-------------------------------------------------------------------------------------------------------------------
Total:                         531     162,508,006     100.00      7.762       357        80.60       659     43.27
-------------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                    of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
          Ratios (%)               Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------------

20.01--25.00                          1         120,000       0.07      7.750       358        22.64       619     39.06
35.01--40.00                          3         980,000       0.60      7.540       357        39.09       638     44.02
40.01--45.00                          1         220,000       0.14      6.300       358        41.90       711     40.27
50.01--55.00                          6       1,302,051       0.80      7.568       356        52.05       617     43.41
55.01--60.00                          4         690,000       0.42      6.902       357        57.85       623     38.80
60.01--65.00                          7       1,753,635       1.08      6.908       357        64.13       647     39.25
65.01--70.00                          8       2,547,235       1.57      7.438       357        69.85       634     40.96
70.01--75.00                         13       4,722,659       2.91      7.664       356        72.81       641     38.27
75.01--80.00                        381     113,472,926      69.83      7.679       357        79.84       665     44.05
80.01--85.00                         39      12,567,069       7.73      7.970       356        84.03       647     40.23
85.01--90.00                         47      17,656,309      10.86      8.085       356        89.19       639     42.59
90.01--95.00                         20       6,146,122       3.78      8.543       356        94.80       666     43.57
95.01--100.00                         1         330,000       0.20      9.300       358       100.00       733     42.25
------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------------


Minimum: 22.64
Maximum: 100.00
Weighted Average: 80.60

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 15       4,811,985       2.96      7.474       357        77.31       655     41.74
<= 3.500                          8       1,956,186       1.20      7.151       358        69.47       668     45.62
3.501--4.000                      8       2,289,223       1.41      6.944       358        80.27       669     45.94
4.001--4.500                     10       3,096,596       1.91      7.505       358        80.60       676     41.77
4.501--5.000                     25       7,106,379       4.37      7.814       357        81.29       682     43.09
5.001--5.500                     57      20,129,793      12.39      7.585       355        80.46       665     42.16
5.501--6.000                     77      23,334,920      14.36      7.638       356        81.66       663     43.51
6.001--6.500                    139      43,001,176      26.46      7.533       357        80.79       650     43.50
6.501--7.000                     55      16,123,002       9.92      7.704       357        80.04       661     42.05
7.001--7.500                    106      30,298,114      18.64      8.113       357        80.79       662     43.27
7.501--8.000                     19       5,841,424       3.59      8.675       356        79.42       647     46.46
8.001--8.500                     10       3,995,829       2.46      9.066       357        82.32       629     45.28
8.501--9.000                      2         523,379       0.32      9.580       357        92.39       629     48.25
--------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659     43.27
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.000
Non-Zero Weighted Average: 6.280

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                15       4,811,985       2.96      7.474       357        77.31       655     41.74
5.501--6.000                     4       1,294,035       0.80      7.205       354        72.46       646     42.75
6.001--6.500                    19       6,204,932       3.82      6.373       357        78.19       674     41.64
6.501--7.000                    71      21,585,871      13.28      6.887       356        78.64       655     44.36
7.001--7.500                   114      35,085,333      21.59      7.290       356        80.10       658     42.69
7.501--8.000                   141      45,497,813      28.00      7.801       357        80.88       663     42.69
8.001--8.500                    79      22,676,987      13.95      8.273       357        80.87       663     43.53
8.501--9.000                    49      13,537,434       8.33      8.739       357        83.13       649     43.77
9.001--9.500                    23       7,512,953       4.62      9.200       357        83.90       659     45.27
9.501--10.000                   14       3,577,063       2.20      9.727       357        85.09       638     46.88
10.001 -10.500                   1         620,100       0.38     10.100       358        90.00       606     43.76
10.501--11.000                   1         103,500       0.06     10.965       358        90.00       675     36.08
-------------------------------------------------------------------------------------------------------------------
Total:                         531     162,508,006     100.00      7.762       357        80.60       659     43.27
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 10.965
Non-Zero Weighted Average: 7.759

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                15       4,811,985       2.96      7.474       357        77.31       655     41.74
<= 12.500                       14       5,475,480       3.37      6.769       356        73.46       655     43.63
12.501--13.000                  27       9,368,688       5.77      7.344       356        80.57       661     42.06
13.001--13.500                  34      10,506,022       6.46      7.007       356        80.74       661     41.66
13.501--14.000                  70      20,030,314      12.33      7.118       356        79.32       654     44.79
14.001--14.500                 101      31,259,393      19.24      7.404       357        80.37       660     42.84
14.501--15.000                 120      38,407,919      23.63      7.822       356        80.12       663     42.45
15.001--15.500                  71      19,711,476      12.13      8.288       357        81.45       666     43.83
15.501--16.000                  43      12,039,123       7.41      8.764       357        84.02       648     43.86
16.001--16.500                  21       6,846,269       4.21      9.188       356        83.08       660     45.20
16.501--17.000                  13       3,327,738       2.05      9.726       357        87.60       644     47.93
17.001--17.500                   1         620,100       0.38     10.100       358        90.00       606     43.76
17.501--18.000                   1         103,500       0.06     10.965       358        90.00       675     36.08
-------------------------------------------------------------------------------------------------------------------
Total:                         531     162,508,006     100.00      7.762       357        80.60       659     43.27
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.200
Maximum: 17.965
Non-Zero Weighted Average: 14.508

INITIAL PERIODIC CAP (%)



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               15       4,811,985       2.96      7.474       357        77.31       655     41.74
1.000                           1         240,000       0.15      6.850       357        77.42       636     41.24
1.500                          66      18,723,501      11.52      7.472       357        80.10       656     43.52
2.000                         139      44,657,885      27.48      7.643       357        80.05       656     42.37
3.000                         306      93,318,510      57.42      7.893       356        81.13       662     43.71
5.000                           2         477,439       0.29      8.188       357        83.29       646     44.81
6.000                           2         278,686       0.17      7.752       358        80.00       645     46.13
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.547

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  15       4,811,985       2.96      7.474       357        77.31       655     41.74
1.000                            155      52,550,308      32.34      7.749       355        80.93       654     42.72
1.500                            356     102,862,031      63.30      7.777       357        80.54       661     43.58
2.000                              5       2,283,682       1.41      8.006       352        82.51       706     44.97
---------------------------------------------------------------------------------------------------------------------
Total:                           531     162,508,006     100.00      7.762       357        80.60       659     43.27
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

NEXT RATE ADJUSTMENT DATES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 15       4,811,985       2.96      7.474       357        77.31       655     41.74
November 2007                     4       1,847,998       1.14      7.148       350        80.00       742     45.39
December 2007                     9       3,143,018       1.93      8.131       351        76.31       645     41.47
January 2008                      7       2,439,172       1.50      7.939       352        84.70       647     43.75
February 2008                    16       5,314,715       3.27      7.853       353        84.30       636     43.91
March 2008                       16       4,944,068       3.04      7.358       354        81.63       625     41.83
April 2008                       28       9,474,053       5.83      7.584       355        79.43       661     43.93
May 2008                         75      25,058,768      15.42      7.742       356        81.05       654     42.58
June 2008                       110      33,830,828      20.82      7.848       357        80.19       659     43.96
July 2008                       147      43,146,619      26.55      7.816       358        80.83       662     43.33
August 2008                      12       3,507,000       2.16      7.812       359        82.08       667     42.93
November 2008                     1         343,599       0.21      7.350       350        79.45       609     43.37
December 2008                     1         620,450       0.38      8.750       351        80.00       629     47.27
January 2009                      1          91,129       0.06      9.250       352        80.00       628     45.42
March 2009                        1         243,000       0.15      8.000       354        90.00       601     23.26
April 2009                        1         384,000       0.24      8.475       355        94.81       703     46.13
May 2009                          8       2,383,726       1.47      7.717       356        81.14       666     44.49
June 2009                        19       5,498,451       3.38      7.609       357        79.39       649     44.09
July 2009                        49      13,015,038       8.01      7.818       358        80.49       674     42.56
August 2009                       4         514,550       0.32      6.936       359        78.08       679     46.01
June 2011                         3         718,000       0.44      8.110       357        84.49       685     45.38
July 2011                         3       1,056,839       0.65      6.576       358        73.06       672     41.42
August 2011                       1         121,000       0.07      7.875       359        81.21       651     42.66
--------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659     43.27
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                      238      88,869,828      54.69      7.719       356        80.72       661     43.77
Florida                          81      19,208,898      11.82      7.944       357        80.12       663     42.89
Arizona                          34       7,671,777       4.72      7.985       356        79.87       644     41.56
New York                         17       7,143,948       4.40      7.856       358        82.70       665     41.31
Maryland                         23       6,929,870       4.26      7.617       357        79.65       655     40.03
Nevada                           25       6,428,958       3.96      7.498       357        81.69       661     43.20
Illinois                         18       4,271,021       2.63      7.901       358        79.92       669     45.53
Hawaii                            6       3,164,746       1.95      7.767       356        81.65       666     43.29
Georgia                          10       2,238,317       1.38      8.156       357        82.98       657     40.48
Rhode Island                      8       2,176,550       1.34      7.378       358        82.53       631     40.98
Virginia                          7       1,835,150       1.13      7.728       358        80.54       654     45.48
New Jersey                        6       1,792,809       1.10      7.639       357        70.87       637     42.23
Massachusetts                     5       1,612,750       0.99      8.305       357        84.30       630     49.19
Washington                        8       1,525,967       0.94      7.254       357        80.72       652     44.61
Colorado                          8       1,216,549       0.75      7.980       356        83.21       653     42.09
Other                            37       6,420,867       3.95      7.758       357        78.50       653     43.50
--------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659     43.27
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 34

OCCUPANCY



                                         % of
                                       Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                 of          Date        Date        Gross    Remaining   Combined    Average    Back
              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Occupancy       Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------

Primary          516     158,921,980      97.79      7.746       357        80.57       658     43.46
Second Home        8       1,802,826       1.11      8.564       358        83.92       707     40.44
Investment         7       1,783,200       1.10      8.371       357        79.71       663     28.72
-----------------------------------------------------------------------------------------------------
Total:           531     162,508,006     100.00      7.762       357        80.60       659     43.27
-----------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                              of          Date        Date        Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Property Type          Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------

Single Family Residence       411     123,298,597      75.87      7.756       357        80.40       657     43.40
Condo                          46      13,573,339       8.35      7.741       356        80.62       663     43.05
2-4 Family                     33      13,208,820       8.13      7.972       357        81.45       676     43.25
Planned Unit Development       41      12,427,250       7.65      7.628       356        81.67       655     42.17
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                  % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                          of          Date        Date        Gross    Remaining   Combined    Average    Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Loan Purpose         Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------

Purchase                  320      95,071,849      58.50      7.802       356        80.56       670     44.20
Refinance--Cashout        193      62,419,618      38.41      7.728       357        80.75       642     42.18
Refinance--Rate Term       18       5,016,539       3.09      7.430       357        79.48       653     39.20
--------------------------------------------------------------------------------------------------------------
Total:                    531     162,508,006     100.00      7.762       357        80.60       659     43.27
--------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Documentation Level      Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------

Stated Documentation       296      92,734,579      57.06      8.025       357        80.07       668     43.83
Full Documentation         208      60,521,993      37.24      7.396       357        81.32       646     42.48
Limited Documentation       27       9,251,435       5.69      7.520       356        81.22       650     42.77
---------------------------------------------------------------------------------------------------------------
Total:                     531     162,508,006     100.00      7.762       357        80.60       659     43.27
---------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                          % of
                                        Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                  of          Date        Date        Gross    Remaining   Combined    Average    Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Credit Score     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------

500--524            1         216,000       0.13      7.500       359        90.00       519     24.25
550--574            1         249,325       0.15      9.750       351        51.55       553     32.85
575--599           14       4,104,955       2.53      7.251       356        78.26       586     38.86
600--624          120      36,833,314      22.67      7.863       356        81.93       613     42.81
625--649          117      34,552,231      21.26      7.784       357        79.39       637     43.75
650--674          112      35,014,895      21.55      7.769       357        80.25       661     43.90
675--699           78      24,286,113      14.94      7.775       357        80.75       685     43.26
700--724           40      11,756,963       7.23      7.630       357        80.60       711     44.39
725--749           24       6,839,742       4.21      7.500       357        82.33       735     42.67
750--774           15       5,052,000       3.11      7.912       357        81.61       763     41.49
775--799            7       2,978,520       1.83      7.641       356        80.37       782     43.80
800 +               2         623,948       0.38      7.135       353        80.00       806     44.97
------------------------------------------------------------------------------------------------------
Total:            531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Prepayment Penalty Term      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

0                              96      31,006,377      19.08      8.141       357        81.13       669     43.54
6                               4       1,146,600       0.71      7.843       358        76.59       695     42.88
12                             42      14,888,521       9.16      7.876       357        80.64       653     42.73
24                            292      89,169,622      54.87      7.664       356        80.78       655     43.25
30                              1         180,000       0.11      8.350       358        80.00       677     47.63
36                             93      25,508,986      15.70      7.598       357        79.83       661     43.28
60                              3         607,900       0.37      6.666       358        66.57       661     44.52
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Lien Position          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

1st Lien                      531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
   Interest Only Term        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

24                              2         431,400       0.27      7.225       358        79.45       606     29.07
36                              3         639,500       0.39      7.938       358        77.28       631     39.93
60                            521     160,349,981      98.67      7.764       357        80.61       659     43.32
120                             5       1,087,125       0.67      7.638       357        81.43       643     41.93
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET IO                                               531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

TOP 5 ZIP CODE CONCENTRATIONS



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
     Top 5 Zip Code        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Concentrations          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

92880                           3       1,495,200       0.92      7.841       357        84.25       653     38.82
92509                           4       1,244,600       0.77      7.267       357        78.87       672     35.94
93536                           3       1,176,000       0.72      7.306       355        84.29       682     47.95
94565                           3       1,113,900       0.69      7.323       357        79.06       656     41.42
11412                           2       1,063,473       0.65      8.013       358        87.10       691     43.05
Other                         516     156,414,833      96.25      7.770       357        80.52       659     43.35
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average    Back
       Top 5 City          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Concentrations          Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------

Los Angeles                    16       6,368,355       3.92      7.795       357        77.37       670     42.45
Las Vegas                      20       4,890,758       3.01      7.450       357        81.22       660     43.35
Miami                          12       3,056,200       1.88      7.722       357        80.80       663     46.67
Corona                          7       3,027,850       1.86      7.796       357        84.38       657     41.41
Sacramento                      9       2,764,860       1.70      8.067       357        83.05       661     44.82
Other                         467     142,399,983      87.63      7.766       357        80.59       658     43.24
------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659     43.27
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
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   IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

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                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

ORIGINATOR



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average    Back
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
            Originator                Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------------

Chapel                                   1          48,043       0.13     12.900       173       100.00       634     37.86
Encore                                   5         662,953       1.73     10.075       330        99.85       634     37.36
First Banc                              12         692,094       1.81     11.790       176       100.00       641     41.69
First Horizon                            6         783,680       2.04     10.313       358        99.14       593     36.88
First NLC                              311      22,315,842      58.21     10.743       250        99.82       648     44.63
Funding America                         19       1,050,648       2.74     11.184       355       100.00       637     42.34
Lenders Direct                          16         944,943       2.46     11.404       199        99.59       646     43.01
Lime Financial                          14       1,022,769       2.67     11.155       189        99.99       658     42.42
Mandalay                                17       1,467,284       3.83     11.254       173       100.00       689     45.61
Master Financial                        74       7,203,289      18.79     10.964       217       100.00       665     42.03
Maxim                                    6         294,688       0.77     11.760       229       100.00       612     41.68
New Century                             10         640,962       1.67     11.498       348       100.00       660     38.05
Rose Mortgage                           17       1,211,236       3.16     11.797       357       100.00       676     43.38
---------------------------------------------------------------------------------------------------------------------------
Total:                                 508      38,338,430     100.00     10.898       248        99.87       652     43.50
---------------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average    Back
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Product with IO term            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           4         188,096       0.49     11.242       174       100.00       643     44.35
Fixed--20 Year                           4         139,084       0.36     11.864       236        99.99       670     43.66
Fixed--30 Year                         111       6,618,572      17.26     10.857       356        99.83       645     42.14
Balloon--15/30                         339      22,809,727      59.50     11.513       176        99.99       657     43.97
Balloon--30/40                           3         476,557       1.24      9.650       357       100.00       605     43.23
ARM--2 Year/6 Month Balloon 30/40        5       1,463,630       3.82      8.848       356        99.80       672     45.82
ARM--3 Year/6 Month Balloon 30/40        7       1,329,322       3.47      8.604       358       100.00       603     48.84
ARM--2 Year/6 Month                     21       2,856,384       7.45      9.561       356        99.59       663     39.94
ARM--3 Year/6 Month                     13       2,127,058       5.55      9.507       357        98.92       629     42.74
Interest Only ARM--3 Year/6
Month--60 mo. IO term                    1         330,000       0.86      9.300       358       100.00       733     42.25
---------------------------------------------------------------------------------------------------------------------------
Total:                                 508      38,338,430     100.00     10.898       248        99.87       652     43.50
---------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average    Back
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------------

6.000--6.999                             1         286,728       0.75      6.225       358       100.00       604     49.67
7.000--7.999                             6       1,225,457       3.20      7.502       357        99.05       669     41.89
8.000--8.999                            25       4,052,847      10.57      8.689       357        99.13       650     43.43
9.000--9.999                            54       4,273,098      11.15      9.767       306        99.97       665     42.45
10.000--10.999                         117       8,603,394      22.44     10.623       233        99.97       667     42.86
11.000--11.999                         180      12,807,225      33.41     11.609       205        99.99       649     43.81
12.000--12.999                          87       5,391,434      14.06     12.424       223       100.00       635     44.48
13.000--13.999                          36       1,589,914       4.15     13.407       215       100.00       627     44.01
14.000--14.999                           2         108,333       0.28     14.151       257       100.00       637     47.49
---------------------------------------------------------------------------------------------------------------------------
Total:                                 508      38,338,430     100.00     10.898       248        99.87       652     43.50
---------------------------------------------------------------------------------------------------------------------------


Minimum: 6.225
Maximum: 14.240
Weighted Average: 10.898

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average    Back
     Range of Cut-off Date          Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Principal Balances ($)            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------------

1--25,000                               30         648,944       1.69     11.002       272        99.99       651     43.74
25,001--50,000                         158       6,061,685      15.81     11.669       229       100.00       644     42.21
50,001--75,000                         135       8,353,843      21.79     11.522       208        99.97       657     44.33
75,001--100,000                         76       6,697,334      17.47     11.116       227        99.98       658     44.03
100,001--125,000                        54       6,045,551      15.77     11.195       233       100.00       644     43.56
125,001--150,000                        25       3,417,813       8.91     10.190       284        99.64       653     40.71
150,001--175,000                        10       1,623,051       4.23     10.424       228        99.59       657     43.80
175,001--200,000                         7       1,317,339       3.44      9.975       330        99.85       656     45.68
200,001--225,000                         3         634,947       1.66     10.288       357       100.00       627     43.06
225,001--250,000                         2         480,050       1.25      8.610       356       100.00       709     46.97
250,001--275,000                         1         251,652       0.66      9.850       357        99.60       549     32.85
275,001--300,000                         2         572,525       1.49      6.737       358        99.48       635     48.90
300,001--325,000                         1         305,314       0.80      7.500       357       100.00       666     46.99
325,001--350,000                         1         330,000       0.86      9.300       358       100.00       733     42.25
375,001--400,000                         1         394,811       1.03      9.990       357       100.00       580     47.90
500,001--750,000                         2       1,203,574       3.14      8.633       356        98.09       678     42.67
---------------------------------------------------------------------------------------------------------------------------
Total:                                 508      38,338,430     100.00     10.898       248        99.87       652     43.50
---------------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 639,285
Average: 75,469

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
                               Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
Stated Original Term (months)    Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

180                               343     22,997,823     59.99    11.511      176       99.99      656    43.97
240                                 4        139,084      0.36    11.864      236       99.99      670    43.66
360                               161     15,201,524     39.65     9.963      357       99.68      646    42.79
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248       99.87      652    43.50
---------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 252

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
  Range of Stated Remaining    Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
        Terms (months)           Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

169--180                          343     22,997,823     59.99    11.511      176       99.99      656    43.97
229--240                            4        139,084      0.36    11.864      236       99.99      670    43.66
337--348                            1         73,261      0.19    10.240      348       99.97      615    32.30
349--360                          160     15,128,263     39.46     9.961      357       99.68      646    42.84
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248       99.87      652    43.50
---------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 248

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
  Range of Combined Original   Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
        LTV Ratios (%)           Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

95.01--100.00                     508     38,338,430    100.00    10.898      248       99.87      652    43.50
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248       99.87      652    43.50
---------------------------------------------------------------------------------------------------------------


Minimum: 95.88
Maximum: 100.00
Weighted Average: 99.87

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
                               Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
  Range of Gross Margins (%)     Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  461     30,232,035     78.86    11.340      218        99.95     653    43.56
4.501--5.000                        2        783,686      2.04     8.725      355       100.00     711    38.99
5.001--5.500                        8      1,199,471      3.13     9.603      356       100.00     687    43.53
5.501--6.000                       10      1,704,926      4.45     8.935      357        99.32     618    41.97
6.001--6.500                        5      1,135,900      2.96     8.689      358        97.98     645    44.02
6.501--7.000                        3        570,516      1.49     8.693      358        99.48     677    47.05
7.001--7.500                       18      2,553,915      6.66     9.850      357       100.00     628    44.16
8.501--9.000                        1        157,981      0.41     8.950      352       100.00     646    44.09
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248        99.87     652    43.50
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.000
Maximum: 8.700
Non-Zero Weighted Average: 6.425

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
  Range of Minimum Mortgage    Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
          Rates (%)              Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  461     30,232,035     78.86    11.340      218        99.95     653    43.56
6.001--6.500                        1        286,728      0.75     6.225      358       100.00     604    49.67
7.001--7.500                        3        753,853      1.97     7.340      358        98.72     654    43.72
7.501--8.000                        2        287,015      0.75     7.900      356       100.00     698    36.70
8.001--8.500                        4      1,015,772      2.65     8.296      358        97.74     670    44.98
8.501--9.000                        8      1,619,839      4.23     8.885      355        99.76     675    43.77
9.001--9.500                        4        713,156      1.86     9.375      357       100.00     704    39.83
9.501--10.000                       8      1,394,842      3.64     9.898      357        99.93     636    42.39
10.001 -10.500                      6        685,095      1.79    10.362      357       100.00     622    43.25
10.501--11.000                      7        964,979      2.52    10.792      357       100.00     595    43.08
11.001--11.500                      1         90,941      0.24    11.440      358       100.00     588    43.29
11.501--12.000                      2        221,932      0.58    11.891      358       100.00     585    47.64
12.001--12.500                      1         72,243      0.19    12.440      357        99.95     630    46.27
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248        99.87     652    43.50
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.225
Maximum: 12.440
Non-Zero Weighted Average: 9.250

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
  Range of Maximum Mortgage    Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
          Rates (%)              Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  461     30,232,035     78.86    11.340      218        99.95     653    43.56
13.001--13.500                      1        286,728      0.75     6.225      358       100.00     604    49.67
14.001--14.500                      3        753,853      1.97     7.340      358        98.72     654    43.72
14.501--15.000                      5        845,990      2.21     9.168      356        99.88     656    36.38
15.001--15.500                      4      1,015,772      2.65     8.296      358        97.74     670    44.98
15.501--16.000                      9      1,819,661      4.75     9.006      356        99.79     681    44.43
16.001--16.500                      5        798,053      2.08     9.494      357       100.00     692    39.53
16.501--17.000                      5        695,907      1.82    10.011      357       100.00     615    43.85
17.001--17.500                      5        600,197      1.57    10.342      357       100.00     626    44.14
17.501--18.000                      6        905,117      2.36    10.793      358       100.00     590    44.19
18.001--18.500                      1         90,941      0.24    11.440      358       100.00     588    43.29
18.501--19.000                      2        221,932      0.58    11.891      358       100.00     585    47.64
19.001--19.500                      1         72,243      0.19    12.440      357        99.95     630    46.27
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248        99.87     652    43.50
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13.225
Maximum: 19.440
Non-Zero Weighted Average: 16.070

INITIAL PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
                               Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
   Initial Periodic Cap (%)      Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  461     30,232,035     78.86    11.340      218       99.95      653    43.56
2.000                               4        703,376      1.83     9.435      356       99.86      659    33.71
3.000                              43      7,403,019     19.31     9.233      357       99.51      648    44.20
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248       99.87      652    43.50
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.000
Maximum: 3.000
Non-Zero Weighted Average: 2.913

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                          Aggregate   Aggregate  Weighted   Weighted  Weighted
                                Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                  of         Date        Date      Gross   Remaining  Combined   Average   Back
                               Mortgage   Principal   Principal  Interest     Term    Original    FICO     DTI
 Subsequent Periodic Cap (%)     Loans   Balance ($)   Balance    Rate(%)   (months)     LTV      Score   Ratio
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  461     30,232,035     78.86    11.340      218       99.95      653    43.56
1.000                              19      3,298,479      8.60     9.545      356       99.65      666    40.83
1.500                              28      4,807,916     12.54     9.048      357       99.46      637    44.97
---------------------------------------------------------------------------------------------------------------
Total:                            508     38,338,430    100.00    10.898      248       99.87      652    43.50
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.297

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                461      30,232,035     78.86      11.340       218        99.95       653     43.56
January 2008                      1         157,981      0.41       8.950       352       100.00       646     44.09
March 2008                        2         204,263      0.53       8.778       354       100.00       731     24.67
April 2008                        4       1,202,958      3.14       9.026       355       100.00       692     44.20
May 2008                          6         744,444      1.94       9.692       356        99.48       686     41.37
June 2008                         6         800,935      2.09       9.403       357        99.87       645     40.44
July 2008                         7       1,209,434      3.15       9.466       358        99.20       635     43.63
June 2009                        11       1,770,251      4.62       9.605       357       100.00       616     45.40
July 2009                        10       2,016,130      5.26       8.791       358        98.86       640     44.34
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average    Back
 Geograhic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
   Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                      168      15,391,571      40.15     11.149       201        99.99       658     44.17
Florida                          91       5,492,680      14.33     11.339       224       100.00       665     42.14
Illinois                         37       2,348,811       6.13     11.039       230        99.74       648     45.98
Texas                            38       1,551,262       4.05      9.919       320        99.99       640     42.13
Massachusetts                     7       1,260,555       3.29      9.418       328        98.17       664     44.95
Michigan                         15       1,125,074       2.93     10.000       329        99.65       619     46.05
Washington                       10       1,116,752       2.91     10.632       269       100.00       632     44.36
Arizona                          14         892,575       2.33     10.296       243        99.67       655     45.35
Nevada                           14         840,078       2.19     11.364       219       100.00       671     44.67
Maryland                          8         776,584       2.03     10.925       314        99.99       681     45.22
Indiana                           8         750,410       1.96      9.049       340        99.10       626     38.59
Rhode Island                      9         749,142       1.95     11.881       343        99.87       609     38.69
Colorado                         13         579,739       1.51     11.089       222       100.00       635     44.88
Connecticut                       9         573,684       1.50     10.731       325        99.32       675     42.17
Pennsylvania                     11         556,127       1.45     10.974       357       100.00       646     46.11
Other                            56       4,333,388      11.30     10.624       320        99.94       636     41.16
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430     100.00     10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 39

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

OCCUPANCY



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
        Occupancy              Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Primary                         505      38,004,464     99.13      10.907       247        99.86       652     43.55
Second Home                       3         333,966      0.87       9.936       357       100.00       709     38.50
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
      Property Type            Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Single Family Residence         409      31,168,269     81.30      10.788       254        99.85       650     43.64
2-4 Family                       33       2,788,410      7.27      11.883       217       100.00       671     45.28
Condo                            43       2,726,040      7.11      11.035       230        99.77       662     43.63
Planned Unit Development         23       1,655,712      4.32      11.096       216       100.00       655     37.68
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
       Loan Purpose            Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Purchase                        432      29,828,181     77.80      11.277       226        99.98       656     43.24
Refinance--Cashout               63       6,465,479     16.86       9.952       318        99.81       638     44.49
Refinance--Rate Term             13       2,044,771      5.33       8.376       345        98.34       640     44.23
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date         Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Documentation Level         Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Stated Documentation            327      22,222,228     57.96      11.476       223        99.97       664     43.89
Full Documentation              143      13,690,200     35.71       9.979       292        99.66       634     42.75
Limited Documentation            38       2,426,002      6.33      10.791       225       100.00       646     44.17
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

CREDIT SCORE



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
       Credit Score            Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

500--524                          2          71,523      0.19      11.118       254       100.00       500     43.98
525--549                          1         251,652      0.66       9.850       357        99.60       549     32.85
550--574                          2         264,611      0.69      11.474       276       100.00       573     32.02
575--599                         34       3,295,814      8.60      10.606       326       100.00       588     43.46
600--624                         93       6,686,392     17.44      10.954       247        99.83       614     43.92
625--649                        155       9,690,934     25.28      11.611       234        99.93       636     43.46
650--674                         95       7,354,070     19.18      10.888       226        99.64       660     44.68
675--699                         61       4,629,568     12.08      10.653       226        99.87       686     43.01
700--724                         33       3,355,092      8.75       9.912       263       100.00       710     43.01
725--749                         19       1,557,871      4.06      10.181       296       100.00       733     43.67
750--774                          6         589,885      1.54      10.200       220       100.00       760     39.38
775--799                          4         357,866      0.93      11.067       249       100.00       787     44.05
800 +                             3         233,153      0.61       9.934       223       100.00       805     46.18
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 652

PREPAYMENT PENALTY TERM



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date         Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
  Prepayment Penalty Term      Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

0                               165      10,758,394     28.06      10.878       277        99.72       659     44.09
12                               11       1,132,959      2.96      11.570       253        99.91       631     37.53
24                              135      11,577,056     30.20      10.869       241        99.88       660     43.62
30                                1         209,763      0.55      10.790       357       100.00       590     48.43
36                              196      14,660,258     38.24      10.887       229        99.95       644     43.36
--------------------------------------------------------------------------------------------------------------------
Total:                          508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 30

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

LIEN POSITION



                                      % of
                                    Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
              of         Date         Date        Gross    Remaining   Combined    Average    Back
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Position    Loans     Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
--------------------------------------------------------------------------------------------------

1st Lien       65      10,245,623     26.72       9.193       357        99.53       642     42.91
2nd Lien      443      28,092,807     73.28      11.520       208        99.99       656     43.72
--------------------------------------------------------------------------------------------------
Total:        508      38,338,430    100.00      10.898       248        99.87       652     43.50
--------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of         Date          Date       Gross    Remaining   Combined    Average    Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Interest Only Term     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------

0                       507     38,008,430       99.14     10.912       247       99.86       652      43.51
60                        1        330,000        0.86      9.300       358      100.00       733      42.25
------------------------------------------------------------------------------------------------------------
Total:                  508     38,338,430      100.00     10.898       248       99.87       652      43.50
------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of         Date          Date       Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 Zip Code Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

95747                                1         639,285       1.67      8.900       355       100.00       701     42.38
02532                                1         564,289       1.47      8.330       358        95.93       653     43.00
20774                                2         399,932       1.04      9.685       358       100.00       727     42.25
98087                                1         394,811       1.03      9.990       357       100.00       580     47.90
92376                                4         325,163       0.85     11.529       277       100.00       664     44.31
Other                              499      36,014,950      93.94     10.992       241        99.92       651     43.49
-----------------------------------------------------------------------------------------------------------------------
Total:                             508      38,338,430     100.00     10.898       248        99.87       652     43.50
-----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET LTV GT 95                                        508 records
                                                            Balance: $38,338,430
--------------------------------------------------------------------------------

TOP 5 CITY CONCENTRATIONS



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of         Date          Date       Gross    Remaining   Combined    Average    Back
                            Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Top 5 City Concentrations     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Miami                           21       1,640,435       4.28     10.715       257       100.00       667     44.11
Los Angeles                      9       1,005,922       2.62     11.314       196       100.00       669     44.43
Las Vegas                       13         765,587       2.00     11.498       206       100.00       666     44.82
Chicago                         11         728,231       1.90     11.290       207        99.75       642     45.32
Roseville                        1         639,285       1.67      8.900       355       100.00       701     42.38
Other                          453      33,558,971      87.53     10.911       249        99.85       650     43.40
-------------------------------------------------------------------------------------------------------------------
Total:                         508      38,338,430     100.00     10.898       248        99.87       652     43.50
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

ORIGINATOR



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Originator              Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Accredited                        59      15,861,259      20.32      8.125       357        75.43       667     43.42
Encore                            33      10,415,348      13.34      8.345       356        76.12       636     42.66
First Banc                         3         728,120       0.93      8.932       356        68.33       579     33.62
First Horizon                      6       1,751,006       2.24      9.631       358        88.29       643     43.31
First NLC                        115      25,770,716      33.02      8.625       345        80.55       651     43.15
Flex Point                         1         179,351       0.23     11.200       357        80.00       601     34.41
Funding America                    1          80,710       0.10      9.800       355        89.90       739     33.41
Lenders Direct                     3         704,391       0.90      8.855       338        81.75       600     44.24
Lime Financial                     2         787,695       1.01      8.339       357        85.99       645     38.48
Mandalay                           1          95,691       0.12     11.500       175       100.00       669     44.35
Master Financial                  10       1,781,240       2.28      9.130       322        80.31       634     43.20
New Century                       30       8,366,661      10.72      8.422       357        79.62       630     41.18
Quick Loan                         3       1,383,325       1.77      8.134       356        74.60       624     45.02
Rose Mortgage                     33      10,150,883      13.00      8.621       356        76.31       630     44.23
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Product with IO term       Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                     2         132,448       0.17     10.705       175        92.25       674     37.86
Fixed--20 Year                     1         141,402       0.18      6.250       238        22.19       699     39.64
Fixed--30 Year                    40       7,290,826       9.34      8.345       357        74.40       672     37.86
Balloon--15/30                    24       2,079,396       2.66     11.726       176       100.00       668     45.35
Balloon--30/40                     5       1,971,357       2.53      6.863       358        69.21       693     47.25
ARM--2 Year/6 Month Balloon
   30/40                          52      17,642,013      22.60      8.388       357        78.22       631     42.47
ARM--3 Year/6 Month Balloon
   30/40                          11       2,796,272       3.58      8.348       357        80.09       645     39.45
ARM--2 Year/6 Month              100      25,725,308      32.96      8.673       357        77.20       632     43.03
ARM--3 Year/6 Month               30       6,317,723       8.09      8.898       357        77.20       625     48.52
ARM--5 Year/6 Month                2         750,831       0.96      8.819       355        76.48       578     42.63
Interest Only Fixed--30
   Year--60 mo. IO term            2         648,600       0.83      8.840       358        84.66       669     50.59
Interest Only ARM--2 Year/6
   Month--60 mo. IO term          27      10,540,220      13.50      7.990       357        81.71       676     44.03
Interest Only ARM--3 Year/6
   Month--60 mo. IO term           4       2,020,000       2.59      7.596       358        79.10       680     36.83
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Gross Interest Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
             (%)                  Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

6.000--6.999                        21       6,663,446       8.54      6.738       355        73.19       701     43.76
7.000--7.999                        80      25,765,219      33.01      7.602       357        75.75       657     42.19
8.000--8.999                        81      23,722,717      30.39      8.549       357        79.00       642     42.59
9.000--9.999                        63      14,924,360      19.12      9.502       354        81.05       619     44.80
10.000--10.999                      18       3,697,862       4.74     10.479       354        77.33       586     40.82
11.000--11.999                      19       2,169,077       2.78     11.558       252        90.05       648     43.72
12.000--12.999                      12         812,413       1.04     12.570       251        97.04       640     44.25
13.000--13.999                       4         192,970       0.25     13.848       284        97.53       636     38.13
14.000--14.999                       2         108,333       0.14     14.151       257       100.00       637     47.49
-----------------------------------------------------------------------------------------------------------------------
Total:                             300      78,056,397     100.00      8.502       352        78.31       645     42.95
-----------------------------------------------------------------------------------------------------------------------


Minimum: 6.000
Maximum: 14.240
Weighted Average: 8.502

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
    Range of Cut-off Date       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
    Principal Balances ($)        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

25,001--50,000                       6         250,624       0.32     13.414       275        98.10       643     36.98
50,001--75,000                      23       1,434,226       1.84     11.012       304        90.47       627     36.65
75,001--100,000                     23       2,011,681       2.58     10.687       301        89.27       643     40.75
100,001--125,000                    23       2,532,455       3.24      9.615       294        81.38       634     42.36
125,001--150,000                    14       1,900,236       2.43      8.797       348        69.73       622     37.13
150,001--175,000                    18       2,928,304       3.75      8.647       347        69.17       636     40.87
175,001--200,000                    23       4,318,265       5.53      8.790       356        75.52       618     42.86
200,001--225,000                    17       3,600,513       4.61      8.528       358        78.38       642     45.41
225,001--250,000                    20       4,780,142       6.12      8.302       357        74.50       622     44.28
250,001--275,000                    15       3,931,854       5.04      8.277       357        77.73       638     46.10
275,001--300,000                    17       4,869,696       6.24      8.400       357        79.18       642     43.27
300,001--325,000                    10       3,115,915       3.99      8.334       357        72.15       644     46.13
325,001--350,000                     5       1,690,752       2.17      8.483       358        78.64       640     42.62
350,001--375,000                     8       2,888,602       3.70      8.149       357        74.24       655     44.10
375,001--400,000                    13       5,079,583       6.51      8.029       357        76.59       626     43.68
400,001--425,000                    13       5,349,395       6.85      8.097       357        77.84       629     43.96
425,001--450,000                    10       4,408,087       5.65      8.184       357        78.49       636     47.40
450,001--475,000                     8       3,699,661       4.74      8.498       357        82.72       665     43.28
475,001--500,000                    11       5,369,481       6.88      8.629       357        81.40       659     44.17
500,001--750,000                    22      13,124,878      16.81      8.117       357        79.69       680     39.54
750,001--1,000,000                   1         772,045       0.99      8.350       356        90.00       648     43.65
-----------------------------------------------------------------------------------------------------------------------
Total:                             300      78,056,397     100.00      8.502       352        78.31       645     42.95
-----------------------------------------------------------------------------------------------------------------------


Minimum: 36,260
Maximum: 772,045
Average: 260,188

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average   Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)     Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

180                                 26       2,211,844       2.83     11.665       176        99.53       668     44.90
240                                  1         141,402       0.18      6.250       238        22.19       699     39.64
360                                273      75,703,151      96.99      8.413       357        77.80       644     42.90
-----------------------------------------------------------------------------------------------------------------------
Total:                             300      78,056,397     100.00      8.502       352        78.31       645     42.95
-----------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 355

RANGE OF STATED REMAINING TERMS (MONTHS)

 

                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average   Back
 Range of Stated Remaining      Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Terms (months)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

169--180                            26       2,211,844       2.83     11.665       176        99.53       668     44.90
229--240                             1         141,402       0.18      6.250       238        22.19       699     39.64
349--360                           273      75,703,151      96.99      8.413       357        77.80       644     42.90
-----------------------------------------------------------------------------------------------------------------------
Total:                             300      78,056,397     100.00      8.502       352        78.31       645     42.95
-----------------------------------------------------------------------------------------------------------------------


Minimum: 175
Maximum: 359
Weighted Average: 352

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average   Back
 Range of Combined Original     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
       LTV Ratios (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

15.01--20.00                         2         359,256       0.46      8.722       356        18.18       555     38.85
20.01--25.00                         1         141,402       0.18      6.250       238        22.19       699     39.64
25.01--30.00                         1         121,709       0.16      7.190       357        26.81       645     43.87
30.01--35.00                         2         411,798       0.53      6.990       358        31.23       653     50.70
35.01--40.00                         2         453,093       0.58     10.072       358        39.44       585     43.36
40.01--45.00                         3         579,119       0.74      7.942       357        41.58       557     37.73
45.01--50.00                         4         675,993       0.87      8.160       358        48.38       627     33.77
50.01--55.00                         5       1,800,689       2.31      8.837       357        52.45       592     35.39
55.01--60.00                         5       1,360,162       1.74      7.246       356        57.73       630     44.90
60.01--65.00                         9       1,951,800       2.50      8.721       358        62.82       596     44.03
65.01--70.00                        19       5,560,121       7.12      8.399       357        68.74       629     43.76
70.01--75.00                        20       5,921,285       7.59      8.486       356        74.50       595     43.45
75.01--80.00                       120      36,242,673      46.43      8.140       357        79.80       661     43.94
80.01--85.00                        36       9,317,816      11.94      8.672       357        84.08       634     39.66
85.01--90.00                        30       8,182,108      10.48      8.883       357        89.34       652     42.18
90.01--95.00                         8       2,188,963       2.80      9.043       358        95.00       687     44.62
95.01--100.00                       33       2,788,410       3.57     11.883       217       100.00       671     45.28
-----------------------------------------------------------------------------------------------------------------------
Total:                             300      78,056,397     100.00      8.502       352        78.31       645     42.95
-----------------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 78.31

RANGE OF GROSS MARGINS (%)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average   Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                   74       12,264,028      15.71      8.707       323        78.04       675     41.45
<= 3.500                            5        1,266,713       1.62      8.123       358        75.98       655     43.09
3.501--4.000                        2          563,992       0.72      7.109       359        80.00       718     44.39
4.001--4.500                        4        1,130,065       1.45      7.577       358        67.15       657     38.44
4.501--5.000                       12        3,458,932       4.43      7.954       357        75.32       665     46.37
5.001--5.500                       36       11,307,466      14.49      8.426       356        78.79       644     45.02
5.501--6.000                       44       12,589,765      16.13      8.488       357        77.06       641     42.69
6.001--6.500                       38       10,646,735      13.64      8.260       357        82.45       639     41.60
6.501--7.000                       38       12,587,061      16.13      8.640       357        76.57       617     43.16
7.001--7.500                       36        8,730,288      11.18      8.600       357        79.39       647     42.64
7.501--8.000                        6        2,354,942       3.02      9.065       357        82.54       633     42.62
8.001--8.500                        2          960,000       1.23      9.142       358        75.54       650     48.10
8.501--9.000                        1           76,455       0.10     11.875       358        75.00       546     39.13
9.001--9.500                        1           63,982       0.08     12.125       359        80.00       548     48.96
9.501--10.000                       1           55,974       0.07     12.999       358        80.00       593     42.33
-----------------------------------------------------------------------------------------------------------------------
Total:                            300       78,056,397     100.00      8.502       352        78.31       645     42.95
-----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.300
Maximum: 9.999
Non-Zero Weighted Average: 6.185

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average   Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                74      12,264,028      15.71      8.707       323        78.04       675     41.45
5.501--6.000                     2         885,260       1.13      7.376       355        85.49       629     43.65
6.001--6.500                     1         271,200       0.35      6.440       357        80.00       675     49.94
6.501--7.000                     9       2,419,356       3.10      6.950       357        78.10       657     43.38
7.001--7.500                    25       8,899,196      11.40      7.300       357        75.73       675     43.19
7.501--8.000                    47      14,910,808      19.10      7.851       357        76.19       646     42.70
8.001--8.500                    30       9,462,241      12.12      8.286       357        78.70       659     42.96
8.501--9.000                    39      12,095,669      15.50      8.799       357        80.32       628     42.89
9.001--9.500                    27       7,230,486       9.26      9.264       357        80.51       629     43.92
9.501--10.000                   26       5,760,069       7.38      9.854       357        79.64       599     45.70
10.001 -10.500                   6       1,990,618       2.55     10.320       357        80.73       594     40.83
10.501--11.000                   9       1,270,851       1.63     10.737       357        76.83       589     41.99
11.001--11.500                   2         400,205       0.51     11.283       358        71.72       568     39.95
11.501--12.000                   1          76,455       0.10     11.875       358        75.00       546     39.13
12.001--12.500                   1          63,982       0.08     12.125       359        80.00       548     48.96
12.501--13.000                   1          55,974       0.07     12.999       358        80.00       593     42.33
-------------------------------------------------------------------------------------------------------------------
Total:                         300      78,056,397     100.00      8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.000
Maximum: 12.999
Non-Zero Weighted Average: 8.445

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average   Back
Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)             Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               74       12,264,028     15.71       8.707       323        78.04       675     41.45
<= 12.500                       6        2,173,242      2.78       7.092       356        78.67       662     43.90
12.501--13.000                  4        1,282,475      1.64       7.533       357        75.96       659     46.09
13.001--13.500                 10        3,353,284      4.30       7.566       357        76.61       664     41.90
13.501--14.000                 21        6,413,350      8.22       7.883       357        74.41       610     43.20
14.001--14.500                 21        7,531,758      9.65       7.632       357        75.07       662     44.72
14.501--15.000                 44       13,859,396     17.76       8.061       357        77.32       652     42.07
15.001--15.500                 26        9,000,665     11.53       8.653       357        81.05       665     42.04
15.501--16.000                 33        9,410,348     12.06       8.893       357        81.57       634     43.46
16.001--16.500                 23        5,429,025      6.96       9.255       357        80.04       620     43.32
16.501--17.000                 23        5,018,870      6.43       9.962       357        79.49       595     45.69
17.001--17.500                  6        1,471,878      1.89      10.384       358        78.74       560     44.45
17.501--18.000                  5          472,313      0.61      10.809       357        85.04       595     41.25
18.001--18.500                  1          179,351      0.23      11.200       357        80.00       601     34.41
18.501--19.000                  1           76,455      0.10      11.875       358        75.00       546     39.13
19.001--19.500                  1           63,982      0.08      12.125       359        80.00       548     48.96
19.501--20.000                  1           55,974      0.07      12.999       358        80.00       593     42.33
-------------------------------------------------------------------------------------------------------------------
Total:                        300       78,056,397    100.00       8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

Non-Zero Minimum: 11.000
Maximum: 19.999
Non-Zero Weighted Average: 15.040

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                         Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
  Initial Periodic Cap (%)      Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  74      12,264,028      15.71      8.707       323        78.04       675     41.45
1.500                             54      15,110,708      19.36      8.390       357        78.44       651     44.37
2.000                             55      16,140,790      20.68      8.499       357        76.60       628     40.18
3.000                            117      34,540,871      44.25      8.479       357        79.16       640     44.13
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.410

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  74      12,264,028      15.71      8.707       323        78.04       675     41.45
1.000                             69      23,249,002      29.78      8.553       357        77.33       627     43.01
1.500                            155      41,767,813      53.51      8.423       357        78.98       646     43.42
2.000                              2         775,553       0.99      7.940       353        76.56       671     38.50
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.329

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

NEXT RATE ADJUSTMENT DATES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
Next Rate Adjustment Dates      Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  74      12,264,028      15.71      8.707       323        78.04       675     41.45
December 2007                      1         496,893       0.64      7.990       351        74.63       623     35.63
January 2008                       1         198,119       0.25     10.650       352        75.00       513     40.82
February 2008                      2         578,584       0.74      9.044       353        83.10       554     42.92
April 2008                         8       2,453,428       3.14      8.457       355        78.62       649     44.56
May 2008                          39      12,588,492      16.13      8.333       356        77.59       646     41.12
June 2008                         53      16,981,752      21.76      8.311       357        77.25       642     42.99
July 2008                         64      17,296,134      22.16      8.680       358        80.15       636     44.27
August 2008                       11       3,314,140       4.25      8.169       359        78.21       648     44.34
January 2009                       1         190,785       0.24      7.875       352        85.00       649     26.94
April 2009                         2         245,754       0.31      8.523       355        81.43       676     47.17
May 2009                           3         544,672       0.70      8.940       356        86.21       659     42.15
June 2009                         15       3,653,326       4.68      8.593       357        79.00       623     48.08
July 2009                         24       6,499,458       8.33      8.468       358        76.88       646     42.45
April 2011                         2         750,831       0.96      8.819       355        76.48       578     42.63
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
 Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
    Mortgaged Properties        Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

California                        56      20,768,227      26.61      8.512       345        78.57       645     41.68
New York                          52      19,053,401      24.41      8.046       356        75.56       664     43.20
Illinois                          55      12,390,980      15.87      8.601       352        78.61       641     43.71
Florida                           23       5,014,574       6.42      8.563       351        81.95       653     40.10
Rhode Island                      21       4,445,251       5.69      8.800       355        80.41       648     47.79
Massachusetts                     17       3,856,471       4.94      8.756       347        81.05       629     47.98
New Jersey                        12       3,373,055       4.32      9.050       357        78.15       619     44.89
Connecticut                       14       2,454,155       3.14      8.587       353        75.12       608     45.72
Pennsylvania                      11       1,240,878       1.59      9.247       356        79.97       621     37.91
Hawaii                             2         976,515       1.25      8.106       357        72.37       630     48.09
Wisconsin                          6         802,268       1.03      8.659       357        80.78       608     44.10
Texas                              5         533,341       0.68      9.155       357        85.28       667     25.19
Washington                         2         426,969       0.55      9.294       357        73.88       583     44.24
Ohio                               5         378,763       0.49     10.118       357        86.85       606     42.59
Oregon                             1         355,392       0.46      7.800       359        90.00       604     49.69
Other                             18       1,986,159       2.54      8.933       349        81.56       636     32.53
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

OCCUPANCY



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
         Occupancy              Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Primary                          231      62,170,206      79.65      8.430       350        78.17       644     44.22
Investment                        68      15,351,403      19.67      8.794       357        78.84       649     37.75
Second Home                        1         534,788       0.69      8.400       357        80.00       669     45.48
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
       Property Type            Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

2-4 Family                       300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
        Loan Purpose            Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Refinance--Cashout               147      38,226,993      48.97      8.637       356        75.00       615     41.84
Purchase                         141      36,508,135      46.77      8.443       347        82.19       677     44.08
Refinance--Rate Term              12       3,321,269       4.25      7.591       356        73.80       644     43.33
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date          Date       Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO      DTI
    Documentation Level         Loans    Balance ($)     Balance    Rate(%)   (months)       LTV       Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Stated Documentation             188      50,997,670      65.33      8.739       350        78.65       647     43.84
Full Documentation               102      24,764,773      31.73      8.067       354        77.36       638     42.32
Limited Documentation             10       2,293,954       2.94      7.925       356        81.12       677     30.00
---------------------------------------------------------------------------------------------------------------------
Total:                           300      78,056,397     100.00      8.502       352        78.31       645     42.95
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average   Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
          Credit Score              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

500--524                              12       2,358,419      3.02       9.661       356        67.30       513     47.41
525--549                              18       4,043,522      5.18       9.449       357        70.68       537     43.32
550--574                              12       2,928,255      3.75       8.861       357        71.22       564     40.50
575--599                              26       6,297,745      8.07       8.592       357        70.20       588     41.04
600--624                              37      10,302,778     13.20       8.517       355        79.13       611     42.85
625--649                              70      17,766,798     22.76       8.922       352        81.23       637     43.74
650--674                              48      10,386,425     13.31       8.537       342        80.38       663     43.81
675--699                              35      10,396,541     13.32       7.837       353        78.56       686     41.65
700--724                              19       5,065,404      6.49       8.017       342        82.34       707     43.13
725--749                              14       4,459,781      5.71       7.931       355        82.99       738     43.69
750--774                               6       2,750,053      3.52       7.579       357        77.72       759     43.56
775--799                               3       1,300,676      1.67       7.174       358        82.00       785     36.92
-------------------------------------------------------------------------------------------------------------------------
Total:                               300      78,056,397    100.00       8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 788
Non-Zero Weighted Average: 645

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average   Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Prepayment Penalty Term            Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

0                                    109      25,715,356     32.94       8.779       352        78.81       637     44.68
6                                      4       1,313,203      1.68       8.412       358        78.26       636     44.33
12                                    53      18,434,986     23.62       8.050       356        77.06       665     43.30
24                                    82      22,754,304     29.15       8.488       354        77.72       638     41.96
36                                    45       8,952,471     11.47       8.603       335        81.59       650     39.70
60                                     7         886,077      1.14       9.304       347        72.10       600     42.14
-------------------------------------------------------------------------------------------------------------------------
Total:                               300      78,056,397    100.00       8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average   Back
           Lien                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
         Position                   Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

1st Lien                             267      75,267,987     96.43       8.376       357         77.51      644     42.86
2nd Lien                              33       2,788,410      3.57      11.883       217        100.00      671     45.28
-------------------------------------------------------------------------------------------------------------------------
Total:                               300      78,056,397    100.00       8.502       352         78.31      645     42.95
-------------------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average   Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Interest Only Term               Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

0                                    267      64,847,576     83.08       8.610       351        77.67       639     42.89
60                                    33      13,208,820     16.92       7.972       357        81.45       676     43.25
-------------------------------------------------------------------------------------------------------------------------
Total:                               300      78,056,397    100.00       8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------------


TOP 5 ZIP CODE CONCENTRATIONS



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average   Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Top 5 Zip Code Concentrations      Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

90044                                  4       1,889,414      2.42       7.407       356        81.76       732     43.18
90011                                  5       1,816,064      2.33       8.970       345        81.44       599     41.97
60639                                  7       1,506,711      1.93       8.530       327        82.88       649     47.62
60625                                  3       1,363,069      1.75       8.547       356        76.92       648     41.78
60617                                  7       1,320,535      1.69       8.440       357        81.83       631     43.05
Other                                274      70,160,604     89.88       8.519       352        78.00       644     42.89
-------------------------------------------------------------------------------------------------------------------------
Total:                               300      78,056,397    100.00       8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET MULTI FAMILY                                     300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

TOP 5 CITY CONCENTRATIONS



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average   Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
 Top 5 City Concentrations          Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
-------------------------------------------------------------------------------------------------------------------------

Chicago                               47      10,828,543     13.87       8.653       352        78.82       639     43.87
Los Angeles                           26      10,648,706     13.64       8.340       346        78.53       647     40.42
Bronx                                 11       4,925,976      6.31       8.176       358        81.67       652     45.38
Brooklyn                              10       3,459,405      4.43       8.012       357        69.28       652     41.28
Providence                            10       2,089,548      2.68       9.465       357        79.48       644     48.54
Other                                196      46,104,218     59.07       8.531       352        78.41       645     42.93
-------------------------------------------------------------------------------------------------------------------------
Total:                               300      78,056,397    100.00       8.502       352        78.31       645     42.95
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

ORIGINATOR



                                              % of
                                            Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                      of          Date        Date        Gross    Remaining   Combined    Average    Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------

Chapel                  1          48,043       0.16     12.900       173       100.00       634     37.86
Encore                  2         103,978       0.36     11.448       188       100.00       629     43.47
First Banc             15         827,887       2.84     11.677       176        98.97       653     42.01
First NLC             277      16,069,118      55.08     11.489       206        99.82       655     44.66
Funding America        18         990,786       3.40     11.209       355       100.00       635     43.31
Lenders Direct         16       1,113,639       3.82     10.987       173        92.13       677     43.22
Lime Financial         14         981,823       3.37     11.258       176        99.83       660     43.14
Mandalay               17       1,467,284       5.03     11.254       173       100.00       689     45.61
Master Financial       68       5,659,759      19.40     11.527       175        99.81       655     42.08
Maxim                   5         209,790       0.72     12.269       177       100.00       619     43.58
New Century            10         640,962       2.20     11.498       348       100.00       660     38.05
Rose Mortgage          17       1,060,721       3.64     12.088       349        99.77       667     41.71
----------------------------------------------------------------------------------------------------------
Total:                460      29,173,789     100.00     11.483       208        99.52       657     43.71
----------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                  % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                          of          Date        Date        Gross    Remaining   Combined    Average    Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Product with IO term     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------

Fixed--15 Year              4         188,096       0.64     11.242        174      100.00       643     44.35
Fixed--20 Year              4         139,084       0.48     11.864        236       99.99       670     43.66
Fixed--30 Year            100       5,170,808      17.72     11.510        356       99.76       653     42.44
Balloon--15/30            352      23,675,802      81.15     11.477        176       99.46       658     43.98
--------------------------------------------------------------------------------------------------------------
Total:                    460      29,173,789     100.00     11.483        208       99.52       657     43.71
--------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Gross Interest Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
             (%)                  Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

8.000--8.999                         2         320,697       1.10      8.640       184        72.67       773     45.81
9.000--9.999                        41       1,912,248       6.55      9.848       244        99.89       675     42.09
10.000--10.999                     107       7,014,713      24.04     10.620       201        99.72       684     42.98
11.000--11.999                     183      12,783,794      43.82     11.610       201        99.81       650     43.91
12.000--12.999                      89       5,444,089      18.66     12.426       220        99.87       635     44.46
13.000--13.999                      36       1,589,914       5.45     13.407       215       100.00       627     44.01
14.000--14.999                       2         108,333       0.37     14.151       257       100.00       637     47.49
-----------------------------------------------------------------------------------------------------------------------
Total:                             460      29,173,789     100.00     11.483       208        99.52       657     43.71
-----------------------------------------------------------------------------------------------------------------------


Minimum: 8.500
Maximum: 14.240
Weighted Average: 11.483

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                  Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                            of          Date        Date        Gross    Remaining   Combined    Average    Back
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Principal Balances ($)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
----------------------------------------------------------------------------------------------------------------

1--25,000                    31         673,662       2.31     11.023       269        99.81       650     44.15
25,001--50,000              166       6,379,568      21.87     11.632       227        99.59       646     42.16
50,001--75,000              135       8,347,490      28.61     11.556       202        99.76       658     44.64
75,001--100,000              62       5,466,177      18.74     11.468       198        99.90       663     45.00
100,001--125,000             44       4,900,982      16.80     11.608       204       100.00       654     43.99
125,001--150,000             13       1,765,335       6.05     11.320       215       100.00       654     38.70
150,001--175,000              7       1,147,518       3.93     11.088       176       100.00       673     45.28
175,001--200,000              1         194,689       0.67     10.550       176       100.00       705     43.77
275,001--300,000              1         298,368       1.02      8.650       171        70.63       785     45.45
----------------------------------------------------------------------------------------------------------------
Total:                      460      29,173,789     100.00     11.483       208        99.52       657     43.71
----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 298,368
Average: 63,421

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of          Date        Date        Gross    Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Stated Original Term (months)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

180                                356      23,863,897      81.80     11.475       176        99.46       658     43.98
240                                  4         139,084       0.48     11.864       236        99.99       670     43.66
360                                100       5,170,808      17.72     11.510       356        99.76       653     42.44
-----------------------------------------------------------------------------------------------------------------------
Total:                             460      29,173,789     100.00     11.483       208        99.52       657     43.71
-----------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 212

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
     Terms (months)           Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
-------------------------------------------------------------------------------------------------------------------

169--180                       356      23,863,897      81.80     11.475       176        99.46       658     43.98
229--240                         4         139,084       0.48     11.864       236        99.99       670     43.66
349--360                       100       5,170,808      17.72     11.510       356        99.76       653     42.44
-------------------------------------------------------------------------------------------------------------------
Total:                         460      29,173,789     100.00     11.483       208        99.52       657     43.71
-------------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 208

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                    of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
          Ratios (%)               Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------------

70.01--75.00                          1         298,368       1.02      8.650       171        70.63       785     45.45
85.01--90.00                          3         151,075       0.52     11.420       175        89.12       659     45.00
90.01--95.00                         13         631,539       2.16     11.183       238        94.83       666     42.20
95.01--100.00                       443      28,092,807      96.29     11.520       208        99.99       656     43.72
------------------------------------------------------------------------------------------------------------------------
Total:                              460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------------


Minimum: 70.63
Maximum: 100.00
Weighted Average: 99.52

RANGE OF GROSS MARGINS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                    of          Date        Date        Gross    Remaining   Combined    Average    Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Range of Gross Margins (%)         Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------------
Total:                              460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                    of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Minimum Mortgage        Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)                  Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------------
Total:                              460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                          % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
Range of Maximum Mortgage     Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Rates (%)               Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 460      29,173,789     100.00     11.483       208        99.52       657     43.71
---------------------------------------------------------------------------------------------------------------------
Total:                           460      29,173,789     100.00     11.483       208        99.52       657     43.71
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

INITIAL PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Initial Periodic Cap (%)        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 460      29,173,789     100.00     11.483       208        99.52       657     43.71
---------------------------------------------------------------------------------------------------------------------
Total:                           460      29,173,789     100.00     11.483       208        99.52       657     43.71
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date        Date        Gross    Remaining   Combined    Average    Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 460      29,173,789     100.00     11.483       208        99.52       657     43.71
---------------------------------------------------------------------------------------------------------------------
Total:                           460      29,173,789     100.00     11.483       208        99.52       657     43.71
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

NEXT RATE ADJUSTMENT DATES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
Next Rate Adjustment Dates     Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                460      29,173,789     100.00     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------------------------
Total:                          460      29,173,789     100.00     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Mortgaged Properties        Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

California                      172      15,025,107      51.50     11.295       191        99.26       660     44.19
Florida                          89       4,660,387      15.97     11.746       194        99.80       659     42.28
Illinois                         33       1,744,351       5.98     11.903       186        99.90       646     45.88
Texas                            33       1,001,180       3.43     10.041       299        99.79       646     40.94
Nevada                           16         941,915       3.23     11.322       215        99.46       678     44.34
Washington                       10         754,255       2.59     11.035       218        99.78       659     42.37
Arizona                          13         606,778       2.08     11.731       188       100.00       649     44.05
Rhode Island                      8         497,491       1.71     12.908       336       100.00       640     41.65
Virginia                          8         450,325       1.54     11.815       194        99.53       658     44.88
Maryland                          7         446,584       1.53     12.126       281        99.97       642     47.83
Colorado                         12         430,911       1.48     11.897       175       100.00       634     43.74
Massachusetts                     5         390,952       1.34     12.487       263        99.98       677     46.17
New York                          5         315,403       1.08     11.890       357       100.00       702     43.37
Connecticut                       7         314,246       1.08     11.897       299       100.00       643     42.36
Michigan                          7         236,818       0.81     12.209       225       100.00       663     44.42
Other                            35       1,357,087       4.65     11.856       279        99.47       641     41.53
--------------------------------------------------------------------------------------------------------------------
Total:                          460      29,173,789     100.00     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 35

OCCUPANCY



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
        Occupancy              Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Primary                         456      28,992,704      99.38     11.485       208        99.54       657     43.72
Second Home                       3         147,129       0.50     11.149       231        96.53       696     40.01
Investment                        1          33,956       0.12     11.500       176        90.00       667     49.81
--------------------------------------------------------------------------------------------------------------------
Total:                          460      29,173,789     100.00     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                of          Date        Date        Gross    Remaining   Combined    Average    Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Property Type            Loans    Balance ($)    Balance     Rate(%)    (months)     LTV        Score    Ratio
--------------------------------------------------------------------------------------------------------------------

Single Family Residence         365      22,632,777      77.58     11.448       208        99.40       657     43.97
2-4 Family                       33       2,788,410       9.56     11.883       217       100.00       671     45.28
Condo                            40       2,236,649       7.67     11.545       199        99.82       653     43.71
Planned Unit Development         22       1,515,952       5.20     11.179       203       100.00       650     37.04
--------------------------------------------------------------------------------------------------------------------
Total:                          460      29,173,789     100.00     11.483       208        99.52       657     43.71
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Loan Purpose           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Purchase                      406      25,621,261      87.82     11.515       203        99.94       657     43.73
Refinance--Cashout             49       3,347,592      11.47     11.261       249        96.34       663     43.60
Refinance--Rate Term            5         204,936       0.70     11.206       212        98.10       675     42.65
------------------------------------------------------------------------------------------------------------------
Total:                        460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Documentation Level       Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

Stated Documentation          323      20,577,857     70.54      11.679       208        99.81       662     44.18
Full Documentation            102       6,641,431     22.77      10.938       213        98.48       648     42.30
Limited Documentation          35       1,954,501      6.70      11.270       193       100.00       643     43.58
------------------------------------------------------------------------------------------------------------------
Total:                        460      29,173,789    100.00      11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
      Credit Score           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score    Ratio
------------------------------------------------------------------------------------------------------------------

500--524                        2          71,523       0.25     11.118       254       100.00       500     43.98
550--574                        1         117,814       0.40     12.500       174       100.00       571     29.78
575--599                       15         699,003       2.40     12.483       211       100.00       591     43.12
600--624                       83       5,035,328      17.26     11.783       208        99.85       615     43.88
625--649                      147       8,782,326      30.10     11.881       221        99.90       636     43.36
650--674                       97       6,413,270      21.98     11.482       198        99.62       660     44.70
675--699                       58       3,953,896      13.55     11.001       201        99.86       685     43.30
700--724                       27       1,856,275       6.36     10.624       188        99.89       713     42.87
725--749                       15         818,429       2.81     10.777       241       100.00       734     43.54
750--774                        7         536,539       1.84     10.834       176        99.15       763     43.74
775--799                        5         656,233       2.25      9.968       213        86.65       786     44.69
800 +                           3         233,153       0.80      9.934       223       100.00       805     46.18
------------------------------------------------------------------------------------------------------------------
Total:                        460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 657

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average   Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO     DTI
 Prepayment Penalty Term     Loans     Balance ($)    Balance    Rate(%)    (months)      LTV        Score   Ratio
------------------------------------------------------------------------------------------------------------------

0                             151       7,772,926      26.64     11.569       244        99.80       658     44.36
12                             11       1,179,675       4.04     11.198       210        92.57       688     40.53
24                            124       9,040,439      30.99     11.506       203        99.77       654     44.00
36                            174      11,180,749      38.32     11.435       187        99.85       657     43.37
------------------------------------------------------------------------------------------------------------------
Total:                        460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 30

LIEN POSITION



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average    Back
          Lien             Mortgage    Principal    Principal   Interest      Term     Original     Fico      Dti
        Position            Loans     Balance ($)    Balance    Rate(%)     (Months)     Ltv        Score    Ratio
------------------------------------------------------------------------------------------------------------------

2nd Lien                      460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------
Total:                        460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
   Interest Only Term       Loans     Balance ($)    Balance    Rate(%)     (months)     LTV        Score    Ratio
------------------------------------------------------------------------------------------------------------------

0                             460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------
Total:                        460      29,173,789     100.00     11.483       208        99.52       657     43.71
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
PRINCETON TERMSHEET SECOND LIEN                                      460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                   of          Date         Date      Gross     Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     Fico      Dti
Top 5 Zip Code Concentrations    Loans     Balance ($)    Balance    Rate(%)     (Months)     Ltv        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

92833                                2         418,627       1.43      9.609       172        79.07       732     45.60
92376                                4         325,163       1.11     11.529       277       100.00       664     44.31
91744                                4         312,875       1.07     11.281       175        98.34       682     46.37
92882                                3         312,074       1.07     11.331       175       100.00       633     42.11
90003                                3         302,821       1.04     11.030       175       100.00       688     44.88
Other                              444      27,502,228      94.27     11.520       209        99.83       656     43.65
-----------------------------------------------------------------------------------------------------------------------
Total:                             460      29,173,789     100.00     11.483       208        99.52       657     43.71
-----------------------------------------------------------------------------------------------------------------------


TOP 5 CITY CONCENTRATIONS



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                   of          Date         Date      Gross     Remaining   Combined    Average    Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO      DTI
  Top 5 City Concentrations      Loans     Balance ($)    Balance    Rate(%)     (months)     LTV        Score    Ratio
-----------------------------------------------------------------------------------------------------------------------

Miami                               18       1,007,778       3.45     11.387       195       100.00       666     42.96
Los Angeles                          9       1,005,922       3.45     11.314       196       100.00       669     44.43
Las Vegas                           15         867,424       2.97     11.436       203        99.41       673     44.44
Chicago                             10         607,315       2.08     11.796       177        99.70       647     44.21
Elk Grove                            4         474,266       1.63     11.250       177       100.00       657     42.61
Other                              404      25,211,084      86.42     11.492       211        99.47       656     43.70
-----------------------------------------------------------------------------------------------------------------------
Total:                             460      29,173,789     100.00     11.483       208        99.52       657     43.71
-----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                            ASSET-BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
SILENT SECOND LTV TERMSHEET TABLE                                  4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%) (INCLUDING SILENT SECONDS)



                                                             % of
                                                           Mortgage                          Weighted
                                                           Pool by                            Average
                                             Aggregate    Aggregate   Weighted   Weighted    Combined
                                  Number      Cut-off      Cut-off    Average     Average    Original   Weighted
Range of Combined Original LTV      of          Date         Date      Gross     Remaining    Silent    Average
 Ratios (%) (Including Silent    Mortgage    Principal    Principal   Interest     Term       Second      FICO
           Seconds)               Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
----------------------------------------------------------------------------------------------------------------

10.01--15.00                           1        149,735       0.02      6.625       358        14.63       668
15.01--20.00                           4        430,264       0.05      8.793       356        18.12       550
20.01--25.00                           7      1,072,051       0.13      7.404       327        23.60       599
25.01--30.00                           7        789,898       0.09      7.722       328        27.12       614
30.01--35.00                           8      1,258,495       0.15      7.747       358        32.73       636
35.01--40.00                          19      3,272,611       0.39      8.493       357        38.59       594
40.01--45.00                          39      6,037,573       0.72      8.033       354        42.50       587
45.01--50.00                          47      7,156,498       0.86      8.195       357        47.86       599
50.01--55.00                          53      9,792,664       1.17      8.349       350        52.87       581
55.01--60.00                          71     11,590,854       1.39      7.973       350        57.90       594
60.01--65.00                         122     23,050,855       2.76      8.603       355        63.37       574
65.01--70.00                         190     36,938,987       4.42      8.729       356        68.86       579
70.01--75.00                         280     58,446,358       7.00      8.465       355        73.99       578
75.01--80.00                         628    134,073,219      16.06      8.355       356        79.62       610
80.01--85.00                         412     83,279,910       9.97      8.637       356        84.49       604
85.01--90.00                         428     97,225,263      11.64      8.630       356        89.52       629
90.01--95.00                         254     54,268,770       6.50      8.636       355        94.71       650
95.01--100.00                      1,637    306,100,296      36.66      8.369       343        99.95       657
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        86.82       626
----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 86.82

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

      IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-
                               BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 300
Aggregate Principal Balance ($): 78,056,397
Weighted Average Current Mortgage Rate (%): 8.502
Non-Zero Weighted Average Margin (%): 6.185
Non-Zero Weighted Average Maximum Rate (%): 15.040
Weighted Average Stated Original Term (months): 355
Weighted Average Stated Remaining Term (months): 352
Weighted Average Combined Original LTV (%): 78.31
% First Liens: 96.43
% Owner Occupied: 79.65
% Purchase: 46.77
% Full Doc: 31.73

Non-Zero Weighted Average Credit Score: 645

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                      of         Date          Date      Gross     Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             59      15,861,259      20.32      8.125       357        75.43       667
Encore                 33      10,415,348      13.34      8.345       356        76.12       636
First Banc              3         728,120       0.93      8.932       356        68.33       579
First Horizon           6       1,751,006       2.24      9.631       358        88.29       643
First NLC             115      25,770,716      33.02      8.625       345        80.55       651
Flex Point              1         179,351       0.23     11.200       357        80.00       601
Funding America         1          80,710       0.10      9.800       355        89.90       739
Lenders Direct          3         704,391       0.90      8.855       338        81.75       600
Lime Financial          2         787,695       1.01      8.339       357        85.99       645
Mandalay                1          95,691       0.12     11.500       175       100.00       669
Master Financial       10       1,781,240       2.28      9.130       322        80.31       634
New Century            30       8,366,661      10.72      8.422       357        79.62       630
Quick Loan              3       1,383,325       1.77      8.134       356        74.60       624
Rose Mortgage          33      10,150,883      13.00      8.621       356        76.31       630
--------------------------------------------------------------------------------------------------
Total:                300      78,056,397     100.00      8.502       352        78.31       645
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           2         132,448       0.17     10.705       175        92.25       674
Fixed--20 Year                           1         141,402       0.18      6.250       238        22.19       699
Fixed--30 Year                          40       7,290,826       9.34      8.345       357        74.40       672
Balloon--15/30                          24       2,079,396       2.66     11.726       176       100.00       668
Balloon--30/40                           5       1,971,357       2.53      6.863       358        69.21       693
ARM--2 Year/6 Month Balloon 30/40       52      17,642,013      22.60      8.388       357        78.22       631
ARM--3 Year/6 Month Balloon 30/40       11       2,796,272       3.58      8.348       357        80.09       645
ARM--2 Year/6 Month                    100      25,725,308      32.96      8.673       357        77.20       632
ARM--3 Year/6 Month                     30       6,317,723       8.09      8.898       357        77.20       625
ARM--5 Year/6 Month                      2         750,831       0.96      8.819       355        76.48       578
Interest Only Fixed--30 Year--60
mo. IO term                              2         648,600       0.83      8.840       358        84.66       669
Interest Only ARM--2 Year/6
Month--60 mo. IO term                   27      10,540,220      13.50      7.990       357        81.71       676
Interest Only ARM--3 Year/6
Month--60 mo. IO term                    4       2,020,000       2.59      7.596       358        79.10       680
-------------------------------------------------------------------------------------------------------------------
Total:                                 300      78,056,397     100.00      8.502       352        78.31       645
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            21       6,663,446       8.54      6.738       355        73.19       701
7.000--7.999                            80      25,765,219      33.01      7.602       357        75.75       657
8.000--8.999                            81      23,722,717      30.39      8.549       357        79.00       642
9.000--9.999                            63      14,924,360      19.12      9.502       354        81.05       619
10.000--10.999                          18       3,697,862       4.74     10.479       354        77.33       586
11.000--11.999                          19       2,169,077       2.78     11.558       252        90.05       648
12.000--12.999                          12         812,413       1.04     12.570       251        97.04       640
13.000--13.999                           4         192,970       0.25     13.848       284        97.53       636
14.000--14.999                           2         108,333       0.14     14.151       257       100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                 300      78,056,397     100.00      8.502       352        78.31       645
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.000
Maximum: 14.240
Weighted Average: 8.502

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                           % of
                                                                         Mortgage
                                                                         Pool by
                                                           Aggregate    Aggregate   Weighted    Weighted    Weighted
                                                Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                                  of          Date         Date       Gross     Remaining   Combined    Average
                                               Mortgage    Principal    Principal   Interest      Term      Original     FICO
Range of Cut-off Date Principal Balances ($)     Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

25,001--50,000                                      6         250,624       0.32     13.414        275        98.10       643
50,001--75,000                                     23       1,434,226       1.84     11.012        304        90.47       627
75,001--100,000                                    23       2,011,681       2.58     10.687        301        89.27       643
100,001--125,000                                   23       2,532,455       3.24      9.615        294        81.38       634
125,001--150,000                                   14       1,900,236       2.43      8.797        348        69.73       622
150,001--175,000                                   18       2,928,304       3.75      8.647        347        69.17       636
175,001--200,000                                   23       4,318,265       5.53      8.790        356        75.52       618
200,001--225,000                                   17       3,600,513       4.61      8.528        358        78.38       642
225,001--250,000                                   20       4,780,142       6.12      8.302        357        74.50       622
250,001--275,000                                   15       3,931,854       5.04      8.277        357        77.73       638
275,001--300,000                                   17       4,869,696       6.24      8.400        357        79.18       642
300,001--325,000                                   10       3,115,915       3.99      8.334        357        72.15       644
325,001--350,000                                    5       1,690,752       2.17      8.483        358        78.64       640
350,001--375,000                                    8       2,888,602       3.70      8.149        357        74.24       655
375,001--400,000                                   13       5,079,583       6.51      8.029        357        76.59       626
400,001--425,000                                   13       5,349,395       6.85      8.097        357        77.84       629
425,001--450,000                                   10       4,408,087       5.65      8.184        357        78.49       636
450,001--475,000                                    8       3,699,661       4.74      8.498        357        82.72       665
475,001--500,000                                   11       5,369,481       6.88      8.629        357        81.40       659
500,001--750,000                                   22      13,124,878      16.81      8.117        357        79.69       680
750,001--1,000,000                                  1         772,045       0.99      8.350        356        90.00       648
-------------------------------------------------------------------------------------------------------------------------------
Total:                                            300      78,056,397     100.00      8.502        352        78.31       645
-------------------------------------------------------------------------------------------------------------------------------


Minimum: 36,260
Maximum: 772,045
Average: 260,188

STATED ORIGINAL TERM (MONTHS)



                                                                           % of
                                                                         Mortgage
                                                                         Pool by
                                                           Aggregate    Aggregate   Weighted    Weighted    Weighted
                                                Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                                  of          Date         Date       Gross     Remaining   Combined    Average
                                               Mortgage    Principal    Principal   Interest      Term      Original     FICO
         Stated Original Term (months)           Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

180                                                26       2,211,844       2.83     11.665        176        99.53       668
240                                                 1         141,402       0.18      6.250        238        22.19       699
360                                               273      75,703,151      96.99      8.413        357        77.80       644
-------------------------------------------------------------------------------------------------------------------------------
Total:                                            300      78,056,397     100.00      8.502        352        78.31       645
-------------------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 355

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                           % of
                                                                         Mortgage
                                                                         Pool by
                                                           Aggregate    Aggregate   Weighted    Weighted    Weighted
                                                Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                                  of          Date         Date       Gross     Remaining   Combined    Average
                                               Mortgage    Principal    Principal   Interest      Term      Original     FICO
  Range of Stated Remaining Terms (months)       Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

169--180                                           26       2,211,844       2.83     11.665        176        99.53       668
229--240                                            1         141,402       0.18      6.250        238        22.19       699
349--360                                          273      75,703,151      96.99      8.413        357        77.80       644
-------------------------------------------------------------------------------------------------------------------------------
Total:                                            300      78,056,397     100.00      8.502        352        78.31       645
-------------------------------------------------------------------------------------------------------------------------------


Minimum: 175
Maximum: 359
Weighted Average: 352

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                           % of
                                                                         Mortgage
                                                                         Pool by
                                                           Aggregate    Aggregate   Weighted    Weighted    Weighted
                                                Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                                  of          Date         Date       Gross     Remaining   Combined    Average
                                               Mortgage    Principal    Principal   Interest      Term      Original     FICO
  Range of Combined Original LTV Ratios (%)      Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

15.01--20.00                                        2         359,256       0.46      8.722        356         18.18      555
20.01--25.00                                        1         141,402       0.18      6.250        238         22.19      699
25.01--30.00                                        1         121,709       0.16      7.190        357         26.81      645
30.01--35.00                                        2         411,798       0.53      6.990        358         31.23      653
35.01--40.00                                        2         453,093       0.58     10.072        358         39.44      585
40.01--45.00                                        3         579,119       0.74      7.942        357         41.58      557
45.01--50.00                                        4         675,993       0.87      8.160        358         48.38      627
50.01--55.00                                        5       1,800,689       2.31      8.837        357         52.45      592
55.01--60.00                                        5       1,360,162       1.74      7.246        356         57.73      630
60.01--65.00                                        9       1,951,800       2.50      8.721        358         62.82      596
65.01--70.00                                       19       5,560,121       7.12      8.399        357         68.74      629
70.01--75.00                                       20       5,921,285       7.59      8.486        356         74.50      595
75.01--80.00                                      120      36,242,673      46.43      8.140        357         79.80      661
80.01--85.00                                       36       9,317,816      11.94      8.672        357         84.08      634
85.01--90.00                                       30       8,182,108      10.48      8.883        357         89.34      652
90.01--95.00                                        8       2,188,963       2.80      9.043        358         95.00      687
95.01--100.00                                      33       2,788,410       3.57     11.883        217        100.00      671
-------------------------------------------------------------------------------------------------------------------------------
Total:                                            300      78,056,397     100.00      8.502        352         78.31      645
-------------------------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 78.31

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                                           % of
                                                                         Mortgage
                                                                         Pool by
                                                           Aggregate    Aggregate   Weighted    Weighted    Weighted
                                                Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                                  of          Date         Date       Gross     Remaining   Combined    Average
                                               Mortgage    Principal    Principal   Interest      Term      Original     FICO
         Range of Gross Margins (%)              Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                                   74      12,264,028      15.71      8.707        323        78.04       675
<= 3.500                                            5       1,266,713       1.62      8.123        358        75.98       655
3.501--4.000                                        2         563,992       0.72      7.109        359        80.00       718
4.001--4.500                                        4       1,130,065       1.45      7.577        358        67.15       657
4.501--5.000                                       12       3,458,932       4.43      7.954        357        75.32       665
5.001--5.500                                       36      11,307,466      14.49      8.426        356        78.79       644
5.501--6.000                                       44      12,589,765      16.13      8.488        357        77.06       641
6.001--6.500                                       38      10,646,735      13.64      8.260        357        82.45       639
6.501--7.000                                       38      12,587,061      16.13      8.640        357        76.57       617
7.001--7.500                                       36       8,730,288      11.18      8.600        357        79.39       647
7.501--8.000                                        6       2,354,942       3.02      9.065        357        82.54       633
8.001--8.500                                        2         960,000       1.23      9.142        358        75.54       650
8.501--9.000                                        1          76,455       0.10     11.875        358        75.00       546
9.001--9.500                                        1          63,982       0.08     12.125        359        80.00       548
9.501--10.000                                       1          55,974       0.07     12.999        358        80.00       593
-------------------------------------------------------------------------------------------------------------------------------
Total:                                            300      78,056,397     100.00      8.502        352        78.31       645
-------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.300
Maximum: 9.999
Non-Zero Weighted Average: 6.185

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                           % of
                                                                         Mortgage
                                                                         Pool by
                                                           Aggregate    Aggregate   Weighted    Weighted    Weighted
                                                Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                                  of          Date         Date       Gross     Remaining   Combined    Average
                                               Mortgage    Principal    Principal   Interest      Term      Original     FICO
     Range of Minimum Mortgage Rates (%)         Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                                   74      12,264,028      15.71      8.707        323        78.04       675
5.501--6.000                                        2         885,260       1.13      7.376        355        85.49       629
6.001--6.500                                        1         271,200       0.35      6.440        357        80.00       675
6.501--7.000                                        9       2,419,356       3.10      6.950        357        78.10       657
7.001--7.500                                       25       8,899,196      11.40      7.300        357        75.73       675
7.501--8.000                                       47      14,910,808      19.10      7.851        357        76.19       646
8.001--8.500                                       30       9,462,241      12.12      8.286        357        78.70       659
8.501--9.000                                       39      12,095,669      15.50      8.799        357        80.32       628
9.001--9.500                                       27       7,230,486       9.26      9.264        357        80.51       629
9.501--10.000                                      26       5,760,069       7.38      9.854        357        79.64       599
10.001 -10.500                                      6       1,990,618       2.55     10.320        357        80.73       594
10.501--11.000                                      9       1,270,851       1.63     10.737        357        76.83       589
11.001--11.500                                      2         400,205       0.51     11.283        358        71.72       568
11.501--12.000                                      1          76,455       0.10     11.875        358        75.00       546
12.001--12.500                                      1          63,982       0.08     12.125        359        80.00       548
12.501--13.000                                      1          55,974       0.07     12.999        358        80.00       593
-------------------------------------------------------------------------------------------------------------------------------
Total:                                            300      78,056,397     100.00      8.502        352        78.31       645
-------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.000
Maximum: 12.999
Non-Zero Weighted Average: 8.445

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                               Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date          Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          74      12,264,028      15.71      8.707       323        78.04       675
<= 12.500                                  6       2,173,242       2.78      7.092       356        78.67       662
12.501--13.000                             4       1,282,475       1.64      7.533       357        75.96       659
13.001--13.500                            10       3,353,284       4.30      7.566       357        76.61       664
13.501--14.000                            21       6,413,350       8.22      7.883       357        74.41       610
14.001--14.500                            21       7,531,758       9.65      7.632       357        75.07       662
14.501--15.000                            44      13,859,396      17.76      8.061       357        77.32       652
15.001--15.500                            26       9,000,665      11.53      8.653       357        81.05       665
15.501--16.000                            33       9,410,348      12.06      8.893       357        81.57       634
16.001--16.500                            23       5,429,025       6.96      9.255       357        80.04       620
16.501--17.000                            23       5,018,870       6.43      9.962       357        79.49       595
17.001--17.500                             6       1,471,878       1.89     10.384       358        78.74       560
17.501--18.000                             5         472,313       0.61     10.809       357        85.04       595
18.001--18.500                             1         179,351       0.23     11.200       357        80.00       601
18.501--19.000                             1          76,455       0.10     11.875       358        75.00       546
19.001--19.500                             1          63,982       0.08     12.125       359        80.00       548
19.501--20.000                             1          55,974       0.07     12.999       358        80.00       593
---------------------------------------------------------------------------------------------------------------------
Total:                                   300      78,056,397     100.00      8.502       352        78.31       645
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 19.999
Non-Zero Weighted Average: 15.040

INITIAL PERIODIC CAP (%)



                                                                  % of
                                                               Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date          Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Initial Periodic Cap (%)          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          74      12,264,028      15.71      8.707       323        78.04       675
1.500                                     54      15,110,708      19.36      8.390       357        78.44       651
2.000                                     55      16,140,790      20.68      8.499       357        76.60       628
3.000                                    117      34,540,871      44.25      8.479       357        79.16       640
---------------------------------------------------------------------------------------------------------------------
Total:                                   300      78,056,397     100.00      8.502       352        78.31       645
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.410

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     74      12,264,028      15.71      8.707       323        78.04      675
1.000                                69      23,249,002      29.78      8.553       357        77.33      627
1.500                               155      41,767,813      53.51      8.423       357        78.98      646
2.000                                 2         775,553       0.99      7.940       353        76.56      671
----------------------------------------------------------------------------------------------------------------
Total:                              300      78,056,397     100.00      8.502       352        78.31      645
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.329

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     74      12,264,028      15.71      8.707       323        78.04       675
15                                    1         496,893       0.64      7.990       351        74.63       623
16                                    1         198,119       0.25     10.650       352        75.00       513
17                                    2         578,584       0.74      9.044       353        83.10       554
19                                    8       2,453,428       3.14      8.457       355        78.62       649
20                                   39      12,588,492      16.13      8.333       356        77.59       646
21                                   53      16,981,752      21.76      8.311       357        77.25       642
22                                   64      17,296,134      22.16      8.680       358        80.15       636
23                                   11       3,314,140       4.25      8.169       359        78.21       648
28                                    1         190,785       0.24      7.875       352        85.00       649
31                                    2         245,754       0.31      8.523       355        81.43       676
32                                    3         544,672       0.70      8.940       356        86.21       659
33                                   15       3,653,326       4.68      8.593       357        79.00       623
34                                   24       6,499,458       8.33      8.468       358        76.88       646
55                                    2         750,831       0.96      8.819       355        76.48       578
----------------------------------------------------------------------------------------------------------------
Total:                              300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 15
Maximum: 55
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                 56      20,768,227      26.61      8.512       345        78.57       645
New York                                   52      19,053,401      24.41      8.046       356        75.56       664
Illinois                                   55      12,390,980      15.87      8.601       352        78.61       641
Florida                                    23       5,014,574       6.42      8.563       351        81.95       653
Rhode Island                               21       4,445,251       5.69      8.800       355        80.41       648
Massachusetts                              17       3,856,471       4.94      8.756       347        81.05       629
New Jersey                                 12       3,373,055       4.32      9.050       357        78.15       619
Connecticut                                14       2,454,155       3.14      8.587       353        75.12       608
Pennsylvania                               11       1,240,878       1.59      9.247       356        79.97       621
Hawaii                                      2         976,515       1.25      8.106       357        72.37       630
Wisconsin                                   6         802,268       1.03      8.659       357        80.78       608
Texas                                       5         533,341       0.68      9.155       357        85.28       667
Washington                                  2         426,969       0.55      9.294       357        73.88       583
Ohio                                        5         378,763       0.49     10.118       357        86.85       606
Oregon                                      1         355,392       0.46      7.800       359        90.00       604
Other                                      18       1,986,159       2.54      8.933       349        81.56       636
----------------------------------------------------------------------------------------------------------------------
Total:                                    300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 25

OCCUPANCY



                                                                   % of
                                                                Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Occupancy                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Primary                                   231      62,170,206      79.65      8.430       350        78.17       644
Investment                                 68      15,351,403      19.67      8.794       357        78.84       649
Second Home                                 1         534,788       0.69      8.400       357        80.00       669
----------------------------------------------------------------------------------------------------------------------
Total:                                    300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                   % of
                                                                Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Property Type                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

2-4 Family                                300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------------
Total:                                    300      78,056,397     100.00      8.502       352        78.31       645
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Loan Purpose        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout         147      38,226,993      48.97      8.637       356        75.00       615
Purchase                   141      36,508,135      46.77      8.443       347        82.19       677
Refinance--Rate Term        12       3,321,269       4.25      7.591       356        73.80       644
-------------------------------------------------------------------------------------------------------
Total:                     300      78,056,397     100.00      8.502       352        78.31       645
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Stated Documentation       188      50,997,670      65.33      8.739       350        78.65       647
Full Documentation         102      24,764,773      31.73      8.067       354        77.36       638
Limited Documentation       10       2,293,954       2.94      7.925       356        81.12       677
-------------------------------------------------------------------------------------------------------
Total:                     300      78,056,397     100.00      8.502       352        78.31       645
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

500--524                    12       2,358,419       3.02      9.661       356        67.30       513
525--549                    18       4,043,522       5.18      9.449       357        70.68       537
550--574                    12       2,928,255       3.75      8.861       357        71.22       564
575--599                    26       6,297,745       8.07      8.592       357        70.20       588
600--624                    37      10,302,778      13.20      8.517       355        79.13       611
625--649                    70      17,766,798      22.76      8.922       352        81.23       637
650--674                    48      10,386,425      13.31      8.537       342        80.38       663
675--699                    35      10,396,541      13.32      7.837       353        78.56       686
700--724                    19       5,065,404       6.49      8.017       342        82.34       707
725--749                    14       4,459,781       5.71      7.931       355        82.99       738
750--774                     6       2,750,053       3.52      7.579       357        77.72       759
775--799                     3       1,300,676       1.67      7.174       358        82.00       785
-------------------------------------------------------------------------------------------------------
Total:                     300      78,056,397     100.00      8.502       352        78.31       645
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 788
Non-Zero Weighted Average: 645

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2-4 FAMILY                                                 300 records
                                                            Balance: $78,056,397
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                            109      25,715,356      32.94      8.779       352        78.81       637
6                              4       1,313,203       1.68      8.412       358        78.26       636
12                            53      18,434,986      23.62      8.050       356        77.06       665
24                            82      22,754,304      29.15      8.488       354        77.72       638
36                            45       8,952,471      11.47      8.603       335        81.59       650
60                             7         886,077       1.14      9.304       347        72.10       600
---------------------------------------------------------------------------------------------------------
Total:                       300      78,056,397     100.00      8.502       352        78.31       645
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 22

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
          Lien            Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     267      75,267,987      96.43      8.376       357        77.51       644
2nd Lien                      33       2,788,410       3.57     11.883       217       100.00       671
---------------------------------------------------------------------------------------------------------
Total:                       300      78,056,397     100.00      8.502       352        78.31       645
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                            267      64,847,576      83.08      8.610       351        77.67       639
60                            33      13,208,820      16.92      7.972       357        81.45       676
---------------------------------------------------------------------------------------------------------
Total:                       300      78,056,397     100.00      8.502       352        78.31       645
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 205
Aggregate Principal Balance ($): 51,487,477
Weighted Average Current Mortgage Rate (%): 8.364
Non-Zero Weighted Average Margin (%): 6.095
Non-Zero Weighted Average Maximum Rate (%): 14.993
Weighted Average Stated Original Term (months): 357
Weighted Average Stated Remaining Term (months): 354
Weighted Average Combined Original LTV (%): 77.08
% First Liens: 97.98
% Owner Occupied: 82.30
% Purchase: 43.14
% Full Doc: 34.78
Non-Zero Weighted Average Credit Score: 638

ORIGINATOR



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Accredited                           43      10,661,965      20.71      7.960       357        73.83       659
Encore                               22       6,240,250      12.12      8.361       356        80.41       646
First Banc                            3         728,120       1.41      8.932       356        68.33       579
First Horizon                         6       1,751,006       3.40      9.631       358        88.29       643
First NLC                            62      13,864,493      26.93      8.362       355        77.80       632
Funding America                       1          80,710       0.16      9.800       355        89.90       739
Lenders Direct                        3         704,391       1.37      8.855       338        81.75       600
Lime Financial                        2         787,695       1.53      8.339       357        85.99       645
Mandalay                              1          95,691       0.19     11.500       175       100.00       669
Master Financial                      9       1,332,425       2.59      9.090       311        78.22       645
New Century                          27       7,246,679      14.07      8.365       357        77.48       629
Quick Loan                            1         312,014       0.61      7.250       356        50.48       650
Rose Mortgage                        25       7,682,036      14.92      8.411       355        74.59       629
----------------------------------------------------------------------------------------------------------------
Total:                              205      51,487,477     100.00      8.364       354        77.08       638
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           1          51,302       0.10      8.990       175        80.00       736
Fixed--20 Year                           1         141,402       0.27      6.250       238        22.19       699
Fixed--30 Year                          31       5,773,358      11.21      8.258       357        73.49       659
Balloon--15/30                           9         667,021       1.30     11.381       176       100.00       677
Balloon--30/40                           5       1,971,357       3.83      6.863       358        69.21       693
ARM--2 Year/6 Month Balloon 30/40       41      13,377,944      25.98      8.297       357        77.26       625
ARM--3 Year/6 Month Balloon 30/40        8       1,840,687       3.58      7.999       357        79.51       646
ARM--2 Year/6 Month                     67      14,692,159      28.54      8.754       357        76.79       622
ARM--3 Year/6 Month                     16       3,037,595       5.90      8.956       358        73.22       606
ARM--5 Year/6 Month                      2         750,831       1.46      8.819       355        76.48       578
Interest Only Fixed--30 Year--
   60 mo. IO term                        1         173,600       0.34      7.990       358        80.00       657
Interest Only ARM--2 Year/6 Month
   --60 mo. IO term                     20       7,690,220      14.94      7.960       357        81.82       667
Interest Only ARM--3 Year/6 Month
   --60 mo. IO term                      3       1,320,000       2.56      7.386       357        77.93       680
-------------------------------------------------------------------------------------------------------------------
Total:                                 205      51,487,477     100.00      8.364       354        77.08       638
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            20       6,075,406      11.80      6.714       354        73.56       695
7.000--7.999                            57      17,575,501      34.14      7.583       357        74.65       648
8.000--8.999                            53      14,642,019      28.44      8.514       357        79.12       636
9.000--9.999                            42       8,409,763      16.33      9.499       355        79.34       602
10.000--10.999                          17       3,530,107       6.86     10.455       354        76.97       584
11.000--11.999                           8         776,233       1.51     11.665       272        86.76       664
12.000--12.999                           6         393,813       0.76     12.539       312        93.91       618
13.000--13.999                           2          84,635       0.16     13.667       278        94.37       635
-------------------------------------------------------------------------------------------------------------------
Total:                                 205      51,487,477     100.00      8.364       354        77.08       638
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.000
Maximum: 13.850
Weighted Average: 8.364

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                         3         120,895       0.23     13.249        247       96.06       644
50,001--75,000                        19       1,193,457       2.32     10.521        320       88.56       621
75,001--100,000                       16       1,387,939       2.70     10.329        332       85.09       629
100,001--125,000                      13       1,431,556       2.78      8.740        331       71.84       625
125,001--150,000                      13       1,755,622       3.41      8.842        347       68.88       617
150,001--175,000                      12       1,923,228       3.74      8.453        357       68.20       627
175,001--200,000                      17       3,177,479       6.17      8.668        356       77.28       617
200,001--225,000                      12       2,522,025       4.90      8.400        358       79.84       642
225,001--250,000                      12       2,904,761       5.64      7.961        357       73.52       616
250,001--275,000                      12       3,158,681       6.13      8.217        357       75.50       633
275,001--300,000                      11       3,159,248       6.14      8.344        357       80.64       635
300,001--325,000                       6       1,884,433       3.66      8.246        356       64.22       624
325,001--350,000                       3       1,025,044       1.99      8.115        358       75.64       653
350,001--375,000                       4       1,442,355       2.80      7.775        356       70.12       635
375,001--400,000                      12       4,680,233       9.09      8.040        357       76.30       626
400,001--425,000                      10       4,114,688       7.99      7.917        357       76.79       619
425,001--450,000                       8       3,527,903       6.85      8.121        357       77.28       641
450,001--475,000                       5       2,304,661       4.48      8.536        357       83.06       655
475,001--500,000                       4       1,955,336       3.80      8.476        358       84.03       657
500,001--750,000                      13       7,817,934      15.18      8.126        357       79.75       681
-----------------------------------------------------------------------------------------------------------------
Total:                               205      51,487,477     100.00      8.364        354       77.08       638
-----------------------------------------------------------------------------------------------------------------


Minimum: 36,260
Maximum: 739,593
Average: 251,158

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

180                                   10         718,323       1.40     11.210       176        98.57      681
240                                    1         141,402       0.27      6.250       238        22.19      699
360                                  194      50,627,752      98.33      8.330       357        76.93      638
-----------------------------------------------------------------------------------------------------------------
Total:                               205      51,487,477     100.00      8.364       354        77.08      638
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 357

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                       % of
                                                                      Mortgage
                                                                      Pool by
                                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                               of          Date         Date       Gross    Remaining   Combined    Average
                                            Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Stated Remaining Terms (months)     Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------------

169--180                                        10         718,323       1.40     11.210       176        98.57       681
229--240                                         1         141,402       0.27      6.250       238        22.19       699
349--360                                       194      50,627,752      98.33      8.330       357        76.93       638
---------------------------------------------------------------------------------------- ----------------------------------
Total:                                         205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------------------------


Minimum: 175
Maximum: 359
Weighted Average: 354

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                        % of
                                                                      Mortgage
                                                                      Pool by
                                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                                             Number      Cut-off      Cut-off    Average      Average    Average   Weighted
                                               of          Date         Date       Gross    Remaining   Combined   Average
                                            Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Combined Original LTV Ratios (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------------

15.01--20.00                                     1         159,707       0.31      8.500       357        18.18       592
20.01--25.00                                     1         141,402       0.27      6.250       238        22.19       699
25.01--30.00                                     1         121,709       0.24      7.190       357        26.81       645
30.01--35.00                                     2         411,798       0.80      6.990       358        31.23       653
35.01--40.00                                     2         453,093       0.88     10.072       358        39.44       585
40.01--45.00                                     3         579,119       1.12      7.942       357        41.58       557
45.01--50.00                                     2         347,575       0.68      8.492       358        48.00       588
50.01--55.00                                     4       1,441,186       2.80      8.584       356        52.23       578
55.01--60.00                                     4       1,060,897       2.06      6.892       356        57.09       657
60.01--65.00                                     7       1,561,355       3.03      8.362       358        62.62       612
65.01--70.00                                    13       3,625,681       7.04      8.663       357        68.97       611
70.01--75.00                                    17       4,436,370       8.62      8.697       357        74.38       579
75.01--80.00                                    85      24,551,312      47.68      8.053       357        79.79       656
80.01--85.00                                    25       6,174,883      11.99      8.384       357        84.42       635
85.01--90.00                                    20       4,150,786       8.06      8.985       357        89.88       639
90.01--95.00                                     5       1,232,876       2.39      8.880       358        95.00       711
95.01--100.00                                   13       1,037,727       2.02     11.658       240       100.00       682
---------------------------------------------------------------------------------------------------------------------------
Total:                                         205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 77.08

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                                  % of
                                                               Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Range of Gross Margins (%)         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          48       8,778,040      17.05      8.148       340        73.88       669
<= 3.500                                   5       1,266,713       2.46      8.123       358        75.98       655
3.501--4.000                               2         563,992       1.10      7.109       359        80.00       718
4.001--4.500                               1         249,843       0.49      7.700       358        41.67       561
4.501--5.000                              10       2,774,085       5.39      8.032       357        74.16       645
5.001--5.500                              21       5,899,558      11.46      8.421       357        81.24       654
5.501--6.000                              35       9,668,234      18.78      8.410       357        77.41       640
6.001--6.500                              31       8,383,596      16.28      8.182       357        81.60       635
6.501--7.000                              23       7,569,639      14.70      8.569       357        74.16       606
7.001--7.500                              22       4,514,260       8.77      8.668       357        77.38       608
7.501--8.000                               3       1,123,106       2.18      8.942       357        79.37       607
8.001--8.500                               1         500,000       0.97      9.190       358        71.43       673
8.501--9.000                               1          76,455       0.15     11.875       358        75.00       546
9.001--9.500                               1          63,982       0.12     12.125       359        80.00       548
9.501--10.000                              1          55,974       0.11     12.999       358        80.00       593
---------------------------------------------------------------------------------------------------------------------
Total:                                   205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.300
Maximum: 9.999
Non-Zero Weighted Average: 6.095

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Minimum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          48       8,778,040      17.05      8.148       340        73.88       669
5.501--6.000                               2         885,260       1.72      7.376       355        85.49       629
6.001--6.500                               1         271,200       0.53      6.440       357        80.00       675
6.501--7.000                               9       2,419,356       4.70      6.950       357        78.10       657
7.001--7.500                              18       5,878,063      11.42      7.280       357        74.87       668
7.501--8.000                              32       9,905,754      19.24      7.866       357        74.49       637
8.001--8.500                              20       5,708,541      11.09      8.285       357        77.80       648
8.501--9.000                              22       6,860,246      13.32      8.756       357        82.18       626
9.001--9.500                              18       4,321,710       8.39      9.287       358        78.54       618
9.501--10.000                             18       3,169,181       6.16      9.805       357        78.57       579
10.001 -10.500                             6       1,990,618       3.87     10.320       357        80.73       594
10.501--11.000                             8       1,103,096       2.14     10.698       356        75.59       581
11.501--12.000                             1          76,455       0.15     11.875       358        75.00       546
12.001--12.500                             1          63,982       0.12     12.125       359        80.00       548
12.501--13.000                             1          55,974       0.11     12.999       358        80.00       593
---------------------------------------------------------------------------------------------------------------------
Total:                                   205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.000
Maximum: 12.999
Non-Zero Weighted Average: 8.380

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                             Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
             (%)                    Loans    Balance ($)     Balance    Rate(%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      48       8,778,040      17.05      8.148       340        73.88       669
<= 12.500                              3         899,064       1.75      6.637       356        83.75       660
12.501--13.000                         3       1,054,227       2.05      7.519       356        78.01       673
13.001--13.500                        10       3,353,284       6.51      7.566       357        76.61       664
13.501--14.000                        17       5,080,660       9.87      7.655       357        75.98       619
14.001--14.500                        12       3,807,483       7.39      7.322       357        73.13       666
14.501--15.000                        28       8,413,827      16.34      8.079       357        76.26       642
15.001--15.500                        19       6,408,009      12.45      8.764       357        80.56       647
15.501--16.000                        20       5,409,071      10.51      8.818       358        82.19       632
16.001--16.500                        16       3,336,526       6.48      9.257       357        75.92       603
16.501--17.000                        17       3,195,289       6.21      9.992       357        75.95       570
17.001--17.500                         5       1,251,025       2.43     10.214       358        81.16       563
17.501--18.000                         4         304,559       0.59     10.709       357        85.07       569
18.501--19.000                         1          76,455       0.15     11.875       358        75.00       546
19.001--19.500                         1          63,982       0.12     12.125       359        80.00       548
19.501--20.000                         1          55,974       0.11     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                               205      51,487,477     100.00      8.364       354        77.08       638
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 19.999
Non-Zero Weighted Average: 14.993

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                             Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Initial Periodic Cap (%)        Loans    Balance ($)     Balance    Rate(%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      48       8,778,040      17.05      8.148       340        73.88       669
1.500                                 40      10,607,352      20.60      8.291       357        77.83       640
2.000                                 39      10,740,829      20.86      8.477       357        77.72       631
3.000                                 78      21,361,255      41.49      8.433       357        77.70       629
-----------------------------------------------------------------------------------------------------------------
Total:                               205      51,487,477     100.00      8.364       354        77.08       638
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.376

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                             Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Subsequent Periodic Cap (%)       Loans    Balance ($)     Balance    Rate(%)    (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      48       8,778,040      17.05      8.148       340        73.88       669
1.000                                 50      16,357,642      31.77      8.494       357        78.47       632
1.500                                106      26,073,134      50.64      8.361       357        77.25       631
2.000                                  1         278,661       0.54      7.850       356        80.00       757
-----------------------------------------------------------------------------------------------------------------
Total:                               205      51,487,477     100.00      8.364       354        77.08       638
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.312

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      48       8,778,040      17.05      8.148       340        73.88       669
16                                     1         198,119       0.38     10.650       352        75.00       513
17                                     2         578,584       1.12      9.044       353        83.10       554
19                                     4       1,115,847       2.17      7.779       355        73.53       657
20                                    25       7,359,157      14.29      8.316       356        79.11       652
21                                    39      10,938,463      21.24      8.279       357        76.48       624
22                                    48      12,776,291      24.81      8.613       358        78.92       628
23                                     9       2,793,861       5.43      8.233       359        78.37       657
28                                     1         190,785       0.37      7.875       352        85.00       649
31                                     1          70,398       0.14     10.200       355        85.00       585
32                                     1         251,370       0.49      8.400       356        80.00       657
33                                     8       1,933,806       3.76      8.250       357        78.11       602
34                                    16       3,751,923       7.29      8.366       358        74.17       648
55                                     2         750,831       1.46      8.819       355        76.48       578
-----------------------------------------------------------------------------------------------------------------
Total:                               205      51,487,477     100.00      8.364       354        77.08       638
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 16
Maximum: 55
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

New York                                   45      16,262,252      31.58      8.016       356        75.38       664
California                                 29      10,566,814      20.52      8.440       350        76.11       631
Illinois                                   40       8,365,537      16.25      8.558       356        78.15       632
Florida                                    18       3,536,141       6.87      8.357       349        83.59       650
Massachusetts                              10       2,712,575       5.27      8.298       357        77.10       606
New Jersey                                  9       2,399,313       4.66      8.976       357        75.10       603
Rhode Island                                8       1,627,105       3.16      7.949       357        79.47       638
Connecticut                                 6       1,072,414       2.08      8.338       357        72.80       577
Hawaii                                      2         976,515       1.90      8.106       357        72.37       630
Pennsylvania                                9         961,509       1.87      8.915       356        79.44       624
Wisconsin                                   6         802,268       1.56      8.659       357        80.78       608
Texas                                       4         425,442       0.83      9.004       357        86.31       680
Michigan                                    4         349,971       0.68     10.036       357        88.11       618
Tennessee                                   4         284,995       0.55      8.414       324        85.49       677
Ohio                                        4         276,958       0.54     10.275       357        87.53       593
Other                                       7         867,670       1.69      9.259       350        74.29       594
----------------------------------------------------------------------------------------------------------------------
Total:                                    205      51,487,477     100.00      8.364       354        77.08       638
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 21

OCCUPANCY



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Primary                                   158      42,371,653      82.30      8.253       354        77.05       639
Investment                                 46       8,581,036      16.67      8.913       356        77.07       635
Second Home                                 1         534,788       1.04      8.400       357        80.00       669
---------------------------------------------- --------------- ---------- --------- ---------- ------------ ---------
Total:                                    205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------- --------------- ---------- --------- ---------- ------------ ---------


PROPERTY TYPE



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Property Type               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

2-4 Family                                205      51,487,477     100.00      8.364       354        77.08       638
----------------------------------------------------------------------------------------------------------------------
Total:                                    205      51,487,477     100.00      8.364       354        77.08       638
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Loan Purpose        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout         110      26,700,742      51.86      8.593       356        73.98       606
Purchase                    84      22,213,752      43.14      8.172       352        81.23       678
Refinance--Rate Term        11       2,572,983       5.00      7.646       356        73.45       632
-------------------------------------------------------------------------------------------------------
Total:                     205      51,487,477     100.00      8.364       354        77.08       638
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Stated Documentation       120      32,480,226      63.08      8.601       354        77.05       638
Full Documentation          79      17,906,486      34.78      7.979       355        77.00       637
Limited Documentation        6       1,100,765       2.14      7.640       356        79.12       678
-------------------------------------------------------------------------------------------------------
Total:                     205      51,487,477     100.00      8.364       354        77.08       638
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

500--524                    12       2,358,419       4.58      9.661       356        67.30       513
525--549                    13       2,746,458       5.33      9.411       357        74.67       537
550--574                    11       2,688,518       5.22      8.849       357        70.88       565
575--599                    23       5,540,998      10.76      8.641       357        69.77       588
600--624                    24       5,918,904      11.50      8.366       354        79.26       611
625--649                    42      10,746,203      20.87      8.602       356        80.12       637
650--674                    33       7,468,240      14.50      8.218       352        77.58       662
675--699                    20       5,547,010      10.77      7.510       354        75.23       685
700--724                    14       3,641,048       7.07      7.926       344        82.72       706
725--749                     9       3,252,341       6.32      7.681       354        83.21       737
750--774                     1         278,661       0.54      7.850       356        80.00       757
775--799                     3       1,300,676       2.53      7.174       358        82.00       785
-------------------------------------------------------------------------------------------------------
Total:                     205      51,487,477     100.00      8.364       354        77.08       638
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 788
Non-Zero Weighted Average: 638

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 FAMILY                                                   205 records
                                                            Balance: $51,487,477
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             79      19,341,159      37.56      8.630       356        77.69       631
6                              3         905,399       1.76      7.701       358        75.62       677
12                            37      13,077,405      25.40      7.929       356        75.80       659
24                            52      11,928,764      23.17      8.505       352        77.45       626
36                            27       5,348,672      10.39      8.112       350        78.24       641
60                             7         886,077       1.72      9.304       347        72.10       600
---------------------------------------------------------------------------------------------------------
Total:                       205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 22

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     192      50,449,749      97.98      8.297       357        76.61       638
2nd Lien                      13       1,037,727       2.02     11.658       240       100.00       682
---------------------------------------------------------------------------------------------------------
Total:                       205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Interest Only Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                            181      42,303,656      82.16      8.470       354        76.18       632
60                            24       9,183,820      17.84      7.878       357        81.23       669
---------------------------------------------------------------------------------------------------------
Total:                       205      51,487,477     100.00      8.364       354        77.08       638
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 2,420
Aggregate Principal Balance ($): 574,697,548
Weighted Average Current Mortgage Rate (%): 8.310
Non-Zero Weighted Average Margin (%): 6.278
Non-Zero Weighted Average Maximum Rate (%): 14.962
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 79.83
% First Liens: 100.00
% Owner Occupied: 91.33
% Purchase: 47.58
% Full Doc: 38.07
Non-Zero Weighted Average Credit Score: 629

ORIGINATOR



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                      of         Date          Date      Gross     Remaining   Combined   Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------

Accredited                             259     56,284,406       9.79      8.472       357        78.19       625
Chapel                                  18      3,945,752       0.69      7.696       351        76.89       617
Encore                                 255     69,177,377      12.04      8.267       356        78.99       630
First Banc                              37      8,846,870       1.54      7.918       355        79.37       625
First Horizon                          157     26,588,879       4.63      9.258       358        84.40       622
First NLC                              743    171,391,942      29.82      8.212       357        80.12       634
Flex Point                              15      3,917,966       0.68      9.164       356        68.77       590
Funding America                         21      3,893,112       0.68      8.063       355        79.30       636
Lenders Direct                          31      7,213,436       1.26      8.147       354        79.19       616
Lime Financial                          38     10,626,426       1.85      8.081       356        83.06       638
Mandalay                                14      3,745,179       0.65      7.594       353        79.45       658
Master Financial                       137     40,942,285       7.12      8.178       355        82.07       634
Maxim                                    9      1,459,404       0.25      8.650       357        81.82       595
New Century                            528    126,394,303      21.99      8.256       358        80.10       631
Quick Loan                              29      7,485,064       1.30      8.294       356        72.81       587
Rose Mortgage                          129     32,785,147       5.70      8.517       357        77.80       607
------------------------------------------------------------------------------------------------------------------
Total:                               2,420    574,697,548     100.00      8.310       357        79.83       629
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

ARM--2 Year/6 Month Balloon 30/40       789    213,147,286      37.09      8.242       357        80.12       626
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.04      8.450       357        80.00       625
ARM--2 Year/6 Month                   1,203    227,698,738      39.62      8.687       357        79.02       614
Dual Amort--10/40--2 Year/6 Month         3        941,351       0.16      7.192       352        75.59       631
Interest Only ARM--2 Year/6 Month
   --24 mo. IO term                       2        431,400       0.08      7.225       358        79.45       606
Interest Only ARM--2 Year/6 Month
   --60 mo. IO term                     421    132,088,152      22.98      7.780       356        80.77       658
Interest Only ARM--2 Year/6 Month
   --120 mo. IO term                      1        186,686       0.03      8.000       358        80.00       641
-------------------------------------------------------------------------------------------------------------------
Total:                                2,420    574,697,548     100.00      8.310       357        79.83       629
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              2        569,676       0.10      5.990       353        71.41       651
6.000--6.999                            165     45,159,375       7.86      6.719       356        77.46       656
7.000--7.999                            819    222,069,137      38.64      7.628       357        79.32       646
8.000--8.999                            765    178,692,351      31.09      8.523       357        80.04       625
9.000--9.999                            469     97,760,785      17.01      9.489       357        81.47       601
10.000--10.999                          160     24,896,684       4.33     10.439       357        81.99       579
11.000--11.999                           32      4,551,065       0.79     11.357       357        71.51       547
12.000--12.999                            8        998,475       0.17     12.421       356        88.07       626
-------------------------------------------------------------------------------------------------------------------
Total:                                2,420    574,697,548     100.00      8.310       357        79.83       629
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 12.975
Weighted Average: 8.310

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                         17        718,564       0.13     10.289       357        76.45       591
50,001--75,000                        125      7,935,882       1.38      9.373       357        79.01       600
75,001--100,000                       151     13,228,299       2.30      8.966       357        80.38       612
100,001--125,000                      216     24,372,372       4.24      8.779       357        77.76       608
125,001--150,000                      233     32,227,004       5.61      8.610       357        76.87       609
150,001--175,000                      212     34,325,348       5.97      8.622       357        76.85       608
175,001--200,000                      215     40,477,600       7.04      8.444       357        78.45       618
200,001--225,000                      194     41,298,840       7.19      8.306       357        79.93       632
225,001--250,000                      173     41,013,725       7.14      8.315       357        79.96       626
250,001--275,000                      134     35,177,108       6.12      8.184       357        80.21       620
275,001--300,000                      122     35,078,320       6.10      8.231       357        79.69       621
300,001--325,000                      103     32,142,514       5.59      8.092       357        79.59       623
325,001--350,000                       90     30,415,659       5.29      8.325       357        80.57       629
350,001--375,000                       58     20,957,127       3.65      8.034       357        79.37       658
375,001--400,000                       64     24,949,918       4.34      8.050       357        80.95       646
400,001--425,000                       58     23,930,105       4.16      8.225       356        81.71       638
425,001--450,000                       49     21,508,925       3.74      7.950       357        80.70       631
450,001--475,000                       35     16,145,093       2.81      8.061       357        81.31       657
475,001--500,000                       52     25,473,679       4.43      8.048       356        80.43       645
500,001--750,000                      110     65,747,173      11.44      8.148       356        81.93       644
750,001--1,000,000                      9      7,574,293       1.32      8.454       356        81.32       666
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310       357        79.83       629
-----------------------------------------------------------------------------------------------------------------


Minimum: 31,973
Maximum: 1,000,000
Average: 237,478

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

360                                 2,420    574,697,548     100.00      8.310        357       79.83      629
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310        357       79.83      629
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

349--360                            2,420    574,697,548     100.00      8.310       357        79.83        629
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310       357        79.83        629
-----------------------------------------------------------------------------------------------------------------


Minimum: 349
Maximum: 360
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

10.01--15.00                            1        149,735       0.03      6.625        358     14.63        668
15.01--20.00                            3        403,988       0.07      8.598        356     18.20        552
20.01--25.00                            3        580,110       0.10      7.627        357     24.25        544
25.01--30.00                            4        490,930       0.09      7.808        356     27.24        599
30.01--35.00                            2        321,245       0.06      8.774        358     32.90        612
35.01--40.00                           10      1,767,209       0.31      8.423        357     38.96        594
40.01--45.00                           22      3,577,423       0.62      8.196        356     42.67        577
45.01--50.00                           24      3,717,062       0.65      8.507        357     48.09        582
50.01--55.00                           34      6,850,996       1.19      8.348        356     52.76        582
55.01--60.00                           37      6,668,048       1.16      8.242        357     58.05        580
60.01--65.00                           79     16,190,406       2.82      8.606        357     63.46        577
65.01--70.00                          110     23,046,238       4.01      8.856        357     69.10        570
70.01--75.00                          168     40,003,161       6.96      8.492        357     73.95        579
75.01--80.00                        1,240    310,148,038      53.97      8.033        357     79.86        646
80.01--85.00                          232     54,266,844       9.44      8.558        357     84.62        611
85.01--90.00                          292     71,871,686      12.51      8.659        357     89.59        629
90.01--95.00                          133     30,324,415       5.28      8.916        357     94.73        648
95.01--100.00                          26      4,320,014       0.75      9.319        356     99.66        666
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310        357     79.83        629
-----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 79.83

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

<= 3.500                               17      3,481,064       0.61      7.821       357        75.83       655
3.501--4.000                           13      3,456,547       0.60      7.316       357        78.31       668
4.001--4.500                           24      6,265,377       1.09      7.677       357        75.14       638
4.501--5.000                           94     25,552,068       4.45      8.044       357        80.54       651
5.001--5.500                          299     85,709,931      14.91      8.157       356        80.87       640
5.501--6.000                          481    104,574,115      18.20      8.352       357        79.86       624
6.001--6.500                          618    146,585,829      25.51      8.134       357        80.92       635
6.501--7.000                          351     83,415,631      14.51      8.395       357        77.29       617
7.001--7.500                          404     83,437,453      14.52      8.535       357        79.32       620
7.501--8.000                           72     18,703,576       3.25      8.929       357        80.09       616
8.001--8.500                           38     11,109,145       1.93      9.206       356        79.77       585
8.501--9.000                            6      1,927,242       0.34      9.370       357        93.15       638
9.001--9.500                            3        479,570       0.08      9.738       358        80.00       627
---------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310       357        79.83       629
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.240
Non-Zero Weighted Average: 6.278

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off     Cut-off      Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

5.501--6.000                            9      2,966,547       0.52      7.245       353        80.32       651
6.001--6.500                           42     11,231,171       1.95      6.491       356        77.54       652
6.501--7.000                          138     37,555,265       6.53      6.868       356        77.37       652
7.001--7.500                          262     73,101,822      12.72      7.308       357        79.10       652
7.501--8.000                          561    148,314,416      25.81      7.812       357        79.38       642
8.001--8.500                          357     88,162,977      15.34      8.286       357        80.36       633
8.501--9.000                          404     88,990,716      15.48      8.797       357        79.98       616
9.001--9.500                          229     52,064,391       9.06      9.284       357        81.53       613
9.501--10.000                         226     43,167,326       7.51      9.791       357        81.14       586
10.001 -10.500                        90      14,870,213       2.59     10.283       357        82.51       577
10.501--11.000                         64      8,955,839       1.56     10.766       357        81.76       583
11.001--11.500                         21      3,086,426       0.54     11.221       357        70.01       548
11.501--12.000                          9      1,231,964       0.21     11.766       358        74.79       535
12.001--12.500                          3        524,365       0.09     12.061       355        84.47       593
12.501--13.000                          5        474,110       0.08     12.819       358        92.06       661
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310       357        79.83       629
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.975
Non-Zero Weighted Average: 8.299

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

<= 12.500                              51     16,614,347       2.89      6.917       356        76.22       649
12.501--13.000                         78     21,962,242       3.82      7.573       356        81.06       644
13.001--13.500                         96     26,321,229       4.58      7.443       356        79.21       637
13.501--14.000                        208     54,198,449       9.43      7.512       356        77.19       636
14.001--14.500                        270     74,060,563      12.89      7.599       357        79.44       649
14.501--15.000                        508    129,648,147      22.56      7.958       357        79.40       640
15.001--15.500                        321     75,902,265      13.21      8.449       357        80.49       629
15.501--16.000                        360     77,097,950      13.42      8.892       357        80.45       615
16.001--16.500                        189     41,482,037       7.22      9.325       357        82.42       617
16.501--17.000                        187     35,137,601       6.11      9.835       357        80.83       584
17.001--17.500                         71     11,756,446       2.05     10.313       357        81.19       570
17.501--18.000                         52      6,607,974       1.15     10.886       357        82.39       583
18.001--18.500                         17      2,169,993       0.38     11.238       357        74.04       546
18.501--19.000                          4        445,215       0.08     11.781       358        93.50       566
19.001--19.500                          3        524,365       0.09     12.061       355        84.47       593
19.501--20.000                          4        423,998       0.07     12.853       358        92.89       675
23.501--24.000                          1        344,727       0.06      8.350       356        80.00       596
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548     100.00      8.310       357        79.83       629
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 14.962

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

1.000                                   4        977,783      0.17       8.117       357        86.17       632
1.500                                 384     84,597,436     14.72       8.431       357        78.70       625
2.000                                 708    180,564,355     31.42       8.246       357        79.49       631
3.000                               1,323    308,371,289     53.66       8.314       357        80.31       629
6.000                                   1        186,686      0.03       8.000       358        80.00       641
-----------------------------------------------------------------------------------------------------------------
Total:                              2,420    574,697,548    100.00       8.310       357        79.83       629
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                            Aggregate     Aggregate   Weighted    Weighted   Weighted
                                  Number     Cut-off       Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
                                 Mortgage   Principal     Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)        Loans    Balance ($)     Balance   Rate (%)   (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1.000                                894    218,046,537      37.94      8.376       356        80.09       624
1.500                              1,512    351,792,144      61.21      8.272       357        79.74       632
2.000                                 14      4,858,867       0.85      8.068       352        74.31       649
----------------------------------------------------------------------------------------------------------------
Total:                             2,420    574,697,548     100.00      8.310       357        79.83       629
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.315

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

13                                     1        148,392       0.03      7.715       349        80.00      688
14                                    12      3,494,254       0.61      7.277       350        79.98      671
15                                    26      6,584,989       1.15      7.927       351        77.50      634
16                                    40      8,436,065       1.47      8.076       352        78.89      616
17                                    56     14,549,041       2.53      8.065       353        81.10      632
18                                    72     16,774,090       2.92      8.271       354        80.07      619
19                                   152     38,763,362       6.75      8.221       355        79.87      627
20                                   382     98,346,319      17.11      8.264       356        79.57      628
21                                   602    145,734,452      25.36      8.367       357        79.81      627
22                                   927    210,101,065      36.56      8.349       358        79.87      631
23                                   148     31,223,519       5.43      8.422       359        80.42      622
24                                     2        542,000       0.09      8.514       360        75.23      609
----------------------------------------------------------------------------------------------------------------
Total:                             2,420    574,697,548     100.00      8.310       357        79.83      629
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13
Maximum: 24
Non-Zero Weighted Average: 21

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

California                                 622    220,749,941      38.41      8.017       357        79.45       640
Florida                                    342     71,711,087      12.48      8.430       357        79.79       625
Illinois                                   187     38,310,944       6.67      8.509       357        80.91       632
New York                                    88     28,701,188       4.99      8.220       358        78.61       643
Arizona                                    124     24,064,265       4.19      8.434       357        79.57       615
Maryland                                    71     17,184,941       2.99      8.283       357        79.67       614
Nevada                                      65     15,843,412       2.76      8.048       357        80.05       634
New Jersey                                  48     13,247,815       2.31      8.845       357        77.77       606
Massachusetts                               52     12,180,802       2.12      8.461       357        81.30       619
Connecticut                                 45      9,806,660       1.71      8.323       357        78.68       616
Washington                                  44      9,668,722       1.68      8.161       357        79.71       599
Hawaii                                      21      9,594,330       1.67      8.194       357        77.88       651
Rhode Island                                44      9,423,009       1.64      8.399       358        79.19       604
Virginia                                    49      9,330,161       1.62      8.323       357        78.06       614
Texas                                       72      9,061,605       1.58      8.788       357        80.81       624
Other                                      546     75,818,666      13.19      8.846       357        81.65       613
----------------------------------------------------------------------------------------------------------------------
Total:                                   2,420    574,697,548     100.00      8.310       357        79.83       629
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 49

OCCUPANCY



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Primary                                  2,174    524,890,224      91.33      8.236       357        79.56       627
Investment                                 201     38,005,728       6.61      9.139       357        82.70       651
Second Home                                 45     11,801,596       2.05      8.887       357        82.47       652
----------------------------------------------------------------------------------------------------------------------
Total:                                   2,420    574,697,548     100.00      8.310       357        79.83       629
----------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Property Type                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Single Family Residence                  1,920    440,121,983      76.58      8.304       357        79.93       626
2-4 Family                                 179     53,907,541       9.38      8.446       357        78.41       640
Planned Unit Development                   152     42,680,184       7.43      8.166       356        79.77       630
Condo                                      169     37,987,839       6.61      8.338       357        80.68       643
----------------------------------------------------------------------------------------------------------------------
Total:                                   2,420    574,697,548     100.00      8.310       357        79.83       629
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Loan Purpose           Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout        1,180    281,129,311      48.92      8.444       357        78.04       602
Purchase                  1,145    273,417,416      47.58      8.174       357        81.65       657
Refinance--Rate Term         95     20,150,821       3.51      8.279       357        80.11       616
-------------------------------------------------------------------------------------------------------
Total:                    2,420    574,697,548     100.00      8.310       357        79.83       629
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
Documentation Level       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation      1,269    328,792,244      57.21      8.478       357        79.64       642
Full Documentation        1,049    218,760,323      38.07      8.085       357        79.97       611
Limited Documentation       102     27,144,982       4.72      8.071       356        80.87       618
-------------------------------------------------------------------------------------------------------
Total:                    2,420    574,697,548     100.00      8.310       357        79.83       629
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

500--524                    165     29,795,316       5.18      9.450       357        70.16       512
525--549                    164     31,209,234       5.43      9.170       357        71.89       538
550--574                    202     40,763,451       7.09      8.872       357        77.90       562
575--599                    261     54,981,443       9.57      8.552       357        79.95       588
600--624                    449    110,054,082      19.15      8.193       357        80.88       613
625--649                    442    110,215,246      19.18      8.144       357        81.33       636
650--674                    318     82,957,174      14.43      8.011       357        81.16       661
675--699                    199     53,770,221       9.36      7.974       357        81.01       686
700--724                     98     27,456,230       4.78      7.964       357        82.30       711
725--749                     62     15,989,179       2.78      8.018       357        83.22       736
750--774                     40     11,433,954       1.99      7.901       357        82.08       760
775--799                     17      5,329,311       0.93      7.635       356        80.12       782
800 +                         3        742,707       0.13      7.174       354        81.60       807
-------------------------------------------------------------------------------------------------------
Total:                    2,420    574,697,548     100.00      8.310       357        79.83       629
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 629

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2 YEAR ARMS                                              2,420 records
                                                           Balance: $574,697,548
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of          Date         Date      Gross     Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             634    144,818,641      25.20      8.684       357        80.45       630
6                              15      3,489,711       0.61      8.529       357        77.65       639
12                            161     49,901,665       8.68      8.329       357        80.11       642
24                          1,525    355,896,483      61.93      8.166       357        79.58       627
30                              1        161,858       0.03     10.050       358        90.00       601
36                             72     18,873,121       3.28      7.960       356        79.39       617
60                             12      1,556,070       0.27      9.216       357        79.10       584
---------------------------------------------------------------------------------------------------------
Total:                      2,420    574,697,548     100.00      8.310       357        79.83       629
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 23

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of          Date         Date      Gross     Remaining   Combined    Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                    2,420    574,697,548     100.00      8.310       357        79.83       629
---------------------------------------------------------------------------------------------------------
Total:                      2,420    574,697,548     100.00      8.310       357        79.83       629
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of          Date         Date      Gross     Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

0                           1,996    441,991,310      76.91      8.469       357        79.54       620
24                              2        431,400       0.08      7.225       358        79.45       606
60                            421    132,088,152      22.98      7.780       356        80.77       658
120                             1        186,686       0.03      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------------
Total:                      2,420    574,697,548     100.00      8.310       357        79.83       629
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 460
Aggregate Principal Balance ($): 29,173,789
Weighted Average Current Mortgage Rate (%): 11.483
Non-Zero Weighted Average Margin (%): 0.000
Non-Zero Weighted Average Maximum Rate (%): 0.000
Weighted Average Stated Original Term (months): 212
Weighted Average Stated Remaining Term (months): 208
Weighted Average Combined Original LTV (%): 99.52
%First Liens: 0.00
%Owner Occupied: 99.38
%Purchase: 87.82
%Full Doc: 22.77
Non-Zero Weighted Average Credit Score: 657

ORIGINATOR



                                                  % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date      Gross     Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Chapel                      1          48,043       0.16     12.900       173       100.00       634
Encore                      2         103,978       0.36     11.448       188       100.00       629
First Banc                 15         827,887       2.84     11.677       176        98.97       653
First NLC                 277      16,069,118      55.08     11.489       206        99.82       655
Funding America            18         990,786       3.40     11.209       355       100.00       635
Lenders Direct             16       1,113,639       3.82     10.987       173        92.13       677
Lime Financial             14         981,823       3.37     11.258       176        99.83       660
Mandalay                   17       1,467,284       5.03     11.254       173       100.00       689
Master Financial           68       5,659,759      19.40     11.527       175        99.81       655
Maxim                       5         209,790       0.72     12.269       177       100.00       619
New Century                10         640,962       2.20     11.498       348       100.00       660
Rose Mortgage              17       1,060,721       3.64     12.088       349        99.77       667
------------------------------------------------------------------------------------------------------
Total:                    460      29,173,789     100.00     11.483       208        99.52       657
------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                  % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number     Cut-off      Cut-off     Average    Average    Average    Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
Product with IO term     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------

Fixed--15 Year              4         188,096       0.64     11.242       174       100.00       643
Fixed--20 Year              4         139,084       0.48     11.864       236        99.99       670
Fixed--30 Year            100       5,170,808      17.72     11.510       356        99.76       653
Balloon--15/30            352      23,675,802      81.15     11.477       176        99.46       658
------------------------------------------------------------------------------------------------------
Total:                    460      29,173,789     100.00     11.483       208        99.52       657
------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                      Number     Cut-off      Cut-off    Average     Average    Average    Weighted
                                          of      Date         Date       Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)      Loans   Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

8.000--8.999                             2         320,697       1.10      8.640       184        72.67       773
9.000--9.999                            41       1,912,248       6.55      9.848       244        99.89       675
10.000--10.999                         107       7,014,713      24.04     10.620       201        99.72       684
11.000--11.999                         183      12,783,794      43.82     11.610       201        99.81       650
12.000--12.999                          89       5,444,089      18.66     12.426       220        99.87       635
13.000--13.999                          36       1,589,914       5.45     13.407       215       100.00       627
14.000--14.999                           2         108,333       0.37     14.151       257       100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                 460      29,173,789     100.00     11.483       208        99.52       657
-------------------------------------------------------------------------------------------------------------------


Minimum: 8.500
Maximum: 14.240
Weighted Average: 11.483

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
Range of Cut-off Date Principal     Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)                Loans    Balance ($)     Balance   Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

1--25,000                               31         673,662       2.31     11.023       269        99.81       650
25,001--50,000                         166       6,379,568      21.87     11.632       227        99.59       646
50,001--75,000                         135       8,347,490      28.61     11.556       202        99.76       658
75,001--100,000                         62       5,466,177      18.74     11.468       198        99.90       663
100,001--125,000                        44       4,900,982      16.80     11.608       204       100.00       654
125,001--150,000                        13       1,765,335       6.05     11.320       215       100.00       654
150,001--175,000                         7       1,147,518       3.93     11.088       176       100.00       673
175,001--200,000                         1         194,689       0.67     10.550       176       100.00       705
275,001--300,000                         1         298,368       1.02      8.650       171        70.63       785
-------------------------------------------------------------------------------------------------------------------
Total:                                 460      29,173,789     100.00     11.483       208        99.52       657
-------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 298,368
Average: 63,421

STATED ORIGINAL TERM (MONTHS)



                                                               % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

180                                    356      23,863,897      81.80     11.475       176        99.46       658
240                                      4         139,084       0.48     11.864       236        99.99       670
360                                    100       5,170,808      17.72     11.510       356        99.76       653
-------------------------------------------------------------------------------------------------------------------
Total:                                 460      29,173,789     100.00     11.483       208        99.52       657
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

169--180                             356      23,863,897      81.80     11.475       176        99.46       658
229--240                               4         139,084       0.48     11.864       236        99.99       670
349--360                             100       5,170,808      17.72     11.510       356        99.76       653
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 208

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

70.01--75.00                           1         298,368       1.02      8.650       171        70.63       785
85.01--90.00                           3         151,075       0.52     11.420       175        89.12       659
90.01--95.00                          13         631,539       2.16     11.183       238        94.83       666
95.01--100.00                        443      28,092,807      96.29     11.520       208        99.99       656
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Minimum: 70.63
Maximum: 100.00
Weighted Average: 99.52

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------
Total:                               460      29,173,789     100.00     11.483       208        99.52       657
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    460      29,173,789     100.00     11.483       208        99.52       657
----------------------------------------------------------------------------------------------------------------
Total:                              460      29,173,789     100.00     11.483       208        99.52       657
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0
Maximum: 0
Non-Zero Weighted Average: 0

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

California                          172      15,025,107      51.50     11.295       191        99.26       660
Florida                              89       4,660,387      15.97     11.746       194        99.80       659
Illinois                             33       1,744,351       5.98     11.903       186        99.90       646
Texas                                33       1,001,180       3.43     10.041       299        99.79       646
Nevada                               16         941,915       3.23     11.322       215        99.46       678
Washington                           10         754,255       2.59     11.035       218        99.78       659
Arizona                              13         606,778       2.08     11.731       188       100.00       649
Rhode Island                          8         497,491       1.71     12.908       336       100.00       640
Virginia                              8         450,325       1.54     11.815       194        99.53       658
Maryland                              7         446,584       1.53     12.126       281        99.97       642
Colorado                             12         430,911       1.48     11.897       175       100.00       634
Massachusetts                         5         390,952       1.34     12.487       263        99.98       677
New York                              5         315,403       1.08     11.890       357       100.00       702
Connecticut                           7         314,246       1.08     11.897       299       100.00       643
Michigan                              7         236,818       0.81     12.209       225       100.00       663
Other                                35       1,357,087       4.65     11.856       279        99.47       641
----------------------------------------------------------------------------------------------------------------
Total:                              460      29,173,789     100.00     11.483       208        99.52       657
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 35

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

OCCUPANCY



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
             Occupancy                  Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Primary                                  456      28,992,704      99.38     11.485       208        99.54       657
Second Home                                3         147,129       0.50     11.149       231        96.53       696
Investment                                 1          33,956       0.12     11.500       176        90.00       667
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789     100.00     11.483       208        99.52       657
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
           Property Type                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Single Family Residence                  365      22,632,777      77.58     11.448       208        99.40       657
2-4 Family                                33       2,788,410       9.56     11.883       217       100.00       671
Condo                                     40       2,236,649       7.67     11.545       199        99.82       653
Planned Unit Development                  22       1,515,952       5.20     11.179       203       100.00       650
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789     100.00     11.483       208        99.52       657
---------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Loan Purpose                  Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Purchase                                 406      25,621,261      87.82     11.515       203        99.94       657
Refinance--Cashout                        49       3,347,592      11.47     11.261       249        96.34       663
Refinance--Rate Term                       5         204,936       0.70     11.206       212        98.10       675
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789     100.00     11.483       208        99.52       657
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
       Documentation Level             Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Stated Documentation                     323      20,577,857      70.54     11.679       208        99.81       662
Full Documentation                       102       6,641,431      22.77     10.938       213        98.48       648
Limited Documentation                     35       1,954,501       6.70     11.270       193       100.00       643
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789     100.00     11.483       208        99.52       657
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

CREDIT SCORE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
           Credit Score                Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

500--524                                   2          71,523       0.25     11.118       254       100.00      500
550--574                                   1         117,814       0.40     12.500       174       100.00      571
575--599                                  15         699,003       2.40     12.483       211       100.00      591
600--624                                  83       5,035,328      17.26     11.783       208        99.85      615
625--649                                 147       8,782,326      30.10     11.881       221        99.90      636
650--674                                  97       6,413,270      21.98     11.482       198        99.62      660
675--699                                  58       3,953,896      13.55     11.001       201        99.86      685
700--724                                  27       1,856,275       6.36     10.624       188        99.89      713
725--749                                  15         818,429       2.81     10.777       241       100.00      734
750--774                                   7         536,539       1.84     10.834       176        99.15      763
775--799                                   5         656,233       2.25      9.968       213        86.65      786
800 +                                      3         233,153       0.80      9.934       223       100.00      805
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789     100.00     11.483       208        99.52      657
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 657

PREPAYMENT PENALTY TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
      Prepayment Penalty Term          Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

0                                        151       7,772,926     26.64      11.569       244        99.80      658
12                                        11       1,179,675      4.04      11.198       210        92.57      688
24                                       124       9,040,439     30.99      11.506       203        99.77      654
36                                       174      11,180,749     38.32      11.435       187        99.85      657
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789    100.00      11.483       208        99.52      657
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 30

LIEN POSITION



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Lien Position                Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

2nd Lien                                 460      29,173,789     100.00     11.483       208        99.52      657
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789     100.00     11.483       208        99.52      657
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 2ND LIEN                                                   460 records
                                                            Balance: $29,173,789
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Interest Only Term             Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

0                                        460      29,173,789    100.00      11.483       208        99.52      657
---------------------------------------------------------------------------------------------------------------------
Total:                                   460      29,173,789    100.00      11.483       208        99.52      657
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 62
Aggregate Principal Balance ($): 15,850,883
Weighted Average Current Mortgage Rate (%): 8.980
Non-Zero Weighted Average Margin (%): 6.497
Non-Zero Weighted Average Maximum Rate (%): 15.445
Weighted Average Stated Original Term (months): 348
Weighted Average Stated Remaining Term (months): 345
Weighted Average Combined Original LTV (%): 82.70
%First Liens: 91.76
%Owner Occupied: 81.45
%Purchase: 56.55
%Full Doc: 22.72
Non-Zero Weighted Average Credit Score: 659

ORIGINATOR



                                                               % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Originator                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Accredited                             10        3,209,593      20.25      8.310        357       77.25       697
Encore                                  3        1,070,920       6.76      8.228        356       75.14       616
First NLC                              37        7,708,767      48.63      9.176        333       84.98       663
Flex Point                              1          179,351       1.13     11.200        357       80.00       601
Master Financial                        1          448,815       2.83      9.250        355       86.54       601
New Century                             2          764,589       4.82      9.254        358       95.00       653
Rose Mortgage                           8        2,468,846      15.58      9.272        357       81.65       633
-------------------------------------------------------------------------------------------------------------------
Total:                                 62       15,850,883     100.00      8.980        345       82.70       659
-------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number       Cut-off      Cut-off    Average    Average    Average    Weighted
                                      of           Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage     Principal   Principal   Interest     Term      Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                          1           81,146       0.51     11.790        175      100.00       634
Fixed--30 Year                          7        1,246,037       7.86      8.707        357       81.56       726
Balloon--15/30                         11          967,981       6.11     12.289        177       99.99       649
ARM--2 Year/6 Month Balloon 30/40       6        2,240,677      14.14      9.017        357       84.09       657
ARM--3 Year/6 Month Balloon 30/40       2          445,804       2.81      9.057        358       80.00       667
ARM--2 Year/6 Month                    18        5,641,458      35.59      8.812        357       79.77       642
ARM--3 Year/6 Month                    11        2,602,780      16.42      8.860        357       81.57       651
Interest Only Fixed--30 Year--60
mo. IO term                             1          475,000       3.00      9.150        358       86.36       673
Interest Only ARM--2 Year/6
Month--60 mo. IO term                   4        1,450,000       9.15      8.062        357       82.75       681
Interest Only ARM--3 Year/6
Month--60 mo. IO term                   1          700,000       4.42      7.990        358       81.30       678
-------------------------------------------------------------------------------------------------------------------
Total:                                 62       15,850,883     100.00      8.980        345       82.70       659
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            1          588,039       3.71      6.990       357        69.35       758
7.000--7.999                           12        3,975,590      25.08      7.731       357        78.68       665
8.000--8.999                           17        4,940,879      31.17      8.606       357        79.58       667
9.000--9.999                           14        4,639,881      29.27      9.553       357        87.24       643
11.000--11.999                          9        1,125,184       7.10     11.562       257        89.94       624
12.000--12.999                          5          364,642       2.30     12.608       197        99.98       661
13.000--13.999                          2          108,335       0.68     13.990       290       100.00       637
14.000--14.999                          2          108,333       0.68     14.151       257       100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                 62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.990
Maximum: 14.240
Weighted Average: 8.980

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined   Average
Range of Cut-off Date Principal     Mortgage   Principal     Principal   Interest      Term     Original     FICO
          Balances ($)                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------------------

25,001--50,000                          3          129,729       0.82     13.566       301       100.00       642
50,001--75,000                          3          186,811       1.18     13.708       242        99.95       651
75,001--100,000                         6          529,899       3.34     11.499       241        98.31       673
100,001--125,000                        7          751,346       4.74     11.250       225        95.97       643
125,001--150,000                        1          144,615       0.91      8.250       358        80.00       682
150,001--175,000                        1          164,886       1.04      7.875       359        50.00       602
175,001--200,000                        5          941,236       5.94      9.175       356        81.73       641
200,001--225,000                        3          640,876       4.04      8.936       357        71.52       641
225,001--250,000                        7        1,635,645      10.32      8.806       357        76.17       641
250,001--275,000                        2          519,310       3.28      8.365       358        87.68       669
275,001--300,000                        4        1,134,791       7.16      8.741       357        80.00       675
300,001--325,000                        3          917,733       5.79      8.803       358        86.17       700
325,001--350,000                        1          332,689       2.10      9.350       357        86.55       662
350,001--375,000                        1          367,803       2.32      8.250       358        80.00       709
375,001--400,000                        1          399,351       2.52      7.900       358        80.00       629
400,001--425,000                        3        1,234,707       7.79      8.695       357        81.36       662
425,001--450,000                        2          880,184       5.55      8.436       356        83.33       614
450,001--475,000                        1          475,000       3.00      9.150       358        86.36       673
475,001--500,000                        3        1,454,165       9.17      9.473       357        86.78       635
500,001--750,000                        5        3,010,105      18.99      8.072       357        80.16       684
-------------------------------------------------------------------------------------------------------------------
Total:                                 62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------------------


Minimum: 40,385
Maximum: 700,000
Average: 255,659

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                                    % of
                                                                  Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                           of          Date         Date      Gross     Remaining   Combined    Average
                                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Stated Original Term (months)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------------

180                                        12        1,049,127       6.62     12.250       177        99.99       648
360                                        50       14,801,756      93.38      8.749       357        81.48       660
-----------------------------------------------------------------------------------------------------------------------
Total:                                     62       15,850,883     100.00      8.980       345        82.70       659
-----------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 348

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                    % of
                                                                  Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                           of          Date         Date      Gross     Remaining   Combined    Average
   Range of Stated Remaining Terms      Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (months)                    Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------------

169--180                                   12        1,049,127       6.62     12.250       177        99.99       648
349--360                                   50       14,801,756      93.38      8.749       357        81.48       660
-----------------------------------------------------------------------------------------------------------------------
Total:                                     62       15,850,883     100.00      8.980       345        82.70       659
-----------------------------------------------------------------------------------------------------------------------


Minimum: 175
Maximum: 359
Weighted Average: 345

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                    % of
                                                                  Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                           of          Date         Date      Gross     Remaining   Combined    Average
Range of Combined Original LTV Ratios   Mortgage    Principal    Principal   Interest      Term     Original     FICO
                 (%)                      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------------

45.01--50.00                                1          164,886       1.04      7.875       359        50.00       602
60.01--65.00                                1          220,853       1.39     11.350       358        65.00       541
65.01--70.00                                5        1,450,852       9.15      7.524       357        68.55       674
75.01--80.00                               23        7,226,823      45.59      8.476       357        80.00       665
80.01--85.00                                6        1,984,756      12.52      9.167       358        83.37       635
85.01--90.00                                7        2,540,336      16.03      9.130       357        88.08       670
90.01--95.00                                3          956,087       6.03      9.253       358        95.00       657
95.01--100.00                              16        1,306,289       8.24     12.356       212        99.99       654
-----------------------------------------------------------------------------------------------------------------------
Total:                                     62       15,850,883     100.00      8.980       345        82.70       659
-----------------------------------------------------------------------------------------------------------------------


Minimum: 50.00
Maximum: 100.00
Weighted Average: 82.70

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Range of Gross Margins (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         20        2,770,164      17.48     10.125       289        89.36       688
4.001--4.500                              3          880,222       5.55      7.542       358        74.38       685
5.001--5.500                              8        2,467,447      15.57      8.594       357        79.37       640
5.501--6.000                              4        1,252,679       7.90      8.346       357        83.19       684
6.001--6.500                              4        1,208,011       7.62      9.254       358        88.57       647
6.501--7.000                             10        2,954,680      18.64      9.273       357        80.29       620
7.001--7.500                             11        3,253,598      20.53      8.595       357        80.71       674
7.501--8.000                              2        1,064,081       6.71      8.890       357        85.49       658
---------------------------------------------------------------------------------------------------------------------
Total:                                   62       15,850,883     100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.250
Maximum: 7.750
Non-Zero Weighted Average: 6.497

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Minimum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         20        2,770,164      17.48     10.125       289        89.36       688
7.001--7.500                              3          999,599       6.31      7.310       357        77.88       684
7.501--8.000                              9        2,975,991      18.77      7.872       358        78.95       659
8.001--8.500                              6        1,838,840      11.60      8.291       357        77.20       670
8.501--9.000                             10        3,010,463      18.99      8.839       357        81.03       659
9.001--9.500                              6        1,846,308      11.65      9.301       356        88.36       656
9.501--10.000                             6        2,009,312      12.68      9.965       358        86.00       621
11.001--11.500                            2          400,205       2.52     11.283       358        71.72       568
---------------------------------------------------------------------------------------------------------------------
Total:                                   62       15,850,883     100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 7.250
Maximum: 11.350
Non-Zero Weighted Average: 8.738

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         20        2,770,164      17.48     10.125       289        89.36       688
<= 12.500                                 1          212,143       1.34      7.350       356        70.00       670
12.501--13.000                            1          228,248       1.44      7.600       357        66.50       595
13.501--14.000                            1          630,530       3.98      8.750       356        80.00       605
14.001--14.500                            4        1,209,878       7.63      7.654       357        75.75       657
14.501--15.000                            9        3,057,004      19.29      8.006       358        81.00       664
15.001--15.500                            5        1,749,107      11.03      8.487       357        81.25       685
15.501--16.000                            9        2,478,478      15.64      9.031       357        80.68       653
16.001--16.500                            5        1,513,619       9.55      9.290       356        88.76       655
16.501--17.000                            5        1,601,508      10.10      9.958       358        86.47       640
17.001--17.500                            1          220,853       1.39     11.350       358        65.00       541
18.001--18.500                            1          179,351       1.13     11.200       357        80.00       601
---------------------------------------------------------------------------------------------------------------------
Total:                                   62       15,850,883     100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.350
Maximum: 18.200
Non-Zero Weighted Average: 15.445

INITIAL PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Initial Periodic Cap (%)          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         20        2,770,164      17.48     10.125       289        89.36       688
1.500                                     9        2,621,554      16.54      8.606       358        79.02       683
2.000                                     8        2,437,283      15.38      8.783       357        80.46       624
3.000                                    25        8,021,881      50.61      8.767       357        82.28       653
---------------------------------------------------------------------------------------------------------------------
Total:                                   62       15,850,883     100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.513

SUBSEQUENT PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Subsequent Periodic Cap (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         20        2,770,164      17.48     10.125       289        89.36       688
1.000                                    10        3,212,764      20.27      9.011       356        78.83       607
1.500                                    32        9,867,954      62.25      8.649       357        82.09       668
---------------------------------------------------------------------------------------------------------------------
Total:                                   62       15,850,883     100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.377

MONTHS TO NEXT RATE ADJUSTMENT



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Months to Next Rate Adjustment          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          20        2,770,164      17.48     10.125       289        89.36       688
19                                         3          818,161       5.16      9.100       355        84.68       662
20                                         6        2,147,997      13.55      8.320       356        76.62       628
21                                         7        2,663,629      16.80      8.803       357        82.48       662
22                                        11        3,537,461      22.32      8.917       358        83.85       658
23                                         1          164,886       1.04      7.875       359        50.00       602
31                                         1          175,356       1.11      7.850       355        80.00       713
32                                         2          293,302       1.85      9.403       356        91.53       660
33                                         5        1,281,908       8.09      9.086       357        80.00       648
34                                         6        1,998,018      12.61      8.464       358        80.81       659
----------------------------------------------------------------------------------------------------------------------
Total:                                    62       15,850,883     100.00      8.980       345        82.70       659
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 19
Maximum: 34
Non-Zero Weighted Average: 25

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                15        4,992,808      31.50      8.838       334        85.24       656
Rhode Island                              12        2,541,755      16.04      9.481       353        81.05       649
New York                                   6        2,271,729      14.33      8.062       357        75.81       680
Illinois                                   8        2,036,151      12.85      8.935       343        82.07       656
Massachusetts                              7        1,143,896       7.22      9.842       325        90.43       684
New Jersey                                 3          973,742       6.14      9.234       357        85.67       659
Connecticut                                5          942,651       5.95      8.832       358        77.60       642
Florida                                    2          422,361       2.66      9.369       357        87.28       669
Pennsylvania                               2          279,370       1.76     10.391       356        81.79       611
Idaho                                      1          144,615       0.91      8.250       358        80.00       682
Ohio                                       1          101,805       0.64      9.690       356        85.00       640
----------------------------------------------------------------------------------------------------------------------
Total:                                    62       15,850,883     100.00      8.980       345        82.70       659
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 11

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

OCCUPANCY



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Occupancy           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Primary                    52       12,910,730      81.45      8.994       342        82.40       657
Investment                 10        2,940,152      18.55      8.920       357        84.02       668
-------------------------------------------------------------------------------------------------------
Total:                     62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Property Type         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

2-4 Family                 62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------
Total:                     62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Purchase                   39        8,962,909      56.55      9.121       337        84.47       667
Refinance--Cashout         23        6,887,974      43.45      8.797       356        80.40       649
-------------------------------------------------------------------------------------------------------
Total:                     62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation       48       11,800,848      74.45      9.173       341        84.20       668
Full Documentation         13        3,601,220      22.72      8.316       357        77.31       639
Limited Documentation       1          448,815       2.83      9.250       355        86.54       601
-------------------------------------------------------------------------------------------------------
Total:                     62       15,850,883     100.00      8.980       345        82.70       659
-------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

525--549                      2         628,658        3.97     10.468       357        77.40       544
575--599                      2         423,727        2.67      7.831       357        68.11       590
600--624                      7       2,368,450       14.94      9.012       356        77.80       609
625--649                     20       3,895,181       24.57      9.689       335        86.29       636
650--674                     12       2,554,843       16.12      9.344       322        87.46       665
675--699                     11       3,536,586       22.31      8.403       354        83.62       687
700--724                      3         751,039        4.74      8.085       357        80.00       712
725--749                      3         680,359        4.29      9.034       357        86.71       743
750--774                      2       1,012,039        6.38      7.463       357        73.81       758
---------------------------------------------------------------------------------------------------------
Total:                       62      15,850,883      100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 541
Maximum: 758
Non-Zero Weighted Average: 659

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            24       4,904,257       30.94      9.384       341        84.10       660
6                             1         407,804        2.57      9.990       357        84.12       545
12                           12       3,270,372       20.63      8.436       354        77.89       682
24                           13       4,848,420       30.59      8.696       357        82.59       648
36                           12       2,420,029       15.27      9.298       317        86.35       669
---------------------------------------------------------------------------------------------------------
Total:                       62      15,850,883      100.00      8.980       345        82.70       659
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 36
Non-Zero Weighted Average: 22

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
          Lien            Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                     46      14,544,594       91.76       8.677      357        81.15       660
2nd Lien                     16       1,306,289        8.24      12.356      212        99.99       654
---------------------------------------------------------------------------------------------------------
Total:                       62      15,850,883      100.00       8.980      345        82.70       659
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 3 FAMILY                                                    62 records
                                                            Balance: $15,850,883
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

0                                   56       13,225,883      83.44      9.127       343        82.64       655
60                                   6        2,625,000      16.56      8.240       357        83.02       679
----------------------------------------------------------------------------------------------------------------
Total:                              62       15,850,883     100.00      8.980       345        82.70       659
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 33
Aggregate Principal Balance ($): 10,718,038
Weighted Average Current Mortgage Rate (%): 8.454
Non-Zero Weighted Average Margin (%): 6.163
Non-Zero Weighted Average Maximum Rate (%): 14.709
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 349
Weighted Average Combined Original LTV (%): 77.76
% First Liens: 95.85
% Owner Occupied: 64.26
% Purchase: 49.74
% Full Doc: 30.39
Non-Zero Weighted Average Credit Score: 655

ORIGINATOR



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined   Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Originator                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Accredited                                6        1,989,700      18.56      8.710       357        81.07       664
Encore                                    8        3,104,178      28.96      8.351       356        67.82       623
First NLC                                16        4,197,456      39.16      8.479       338        81.51       690
New Century                               1          355,392       3.32      7.800       359        90.00       604
Quick Loan                                2        1,071,311      10.00      8.392       356        81.62       617
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined   Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Product with IO term           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed--30 Year                            2          271,430      2.53        8.539      357         60.92      688
Balloon--15/30                            4          444,394      4.15       11.017      176        100.00      696
ARM--2 Year/6 Month Balloon 30/40         5        2,023,393     18.88        8.290      357         78.03      643
ARM--3 Year/6 Month Balloon 30/40         1          509,781      4.76        8.990      358         82.26      625
ARM--2 Year/6 Month                      15        5,391,691     50.30        8.304      356         75.60      648
ARM--3 Year/6 Month                       3          677,349      6.32        8.779      357         78.23      613
Interest Only ARM--2 Year/6 Month--
60 mo. IO term                            3        1,400,000     13.06        8.082      357         80.00      716
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038    100.00        8.454      349         77.76      655
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

7.000--7.999                           11        4,214,128      39.32      7.560       356         77.60      685
8.000--8.999                           11        4,139,819      38.62      8.604       356         77.87      632
9.000--9.999                            7        1,874,716      17.49      9.390       345         73.38      634
10.000--10.999                          1          167,754       1.57     10.990       358         85.00      641
11.000--11.999                          2          267,661       2.50     11.228       176        100.00      703
12.000--12.999                          1           53,958       0.50     12.540       177        100.00      663
-------------------------------------------------------------------------------------------------------------------
Total:                                 33       10,718,038     100.00      8.454       349         77.76      655
-------------------------------------------------------------------------------------------------------------------


Minimum: 7.040
Maximum: 12.540
Weighted Average: 8.454

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined   Average
Range of Cut-off Date Principal     Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

50,001--75,000                          1           53,958       0.50     12.540       177        100.00       663
75,001--100,000                         1           93,843       0.88     11.390       175        100.00       669
100,001--125,000                        3          349,553       3.26      9.680       294         89.10       653
150,001--175,000                        5          840,190       7.84      9.243       320         75.15       664
175,001--200,000                        1          199,549       1.86      8.900       356         18.18       526
200,001--225,000                        2          437,612       4.08      8.663       357         80.00       642
225,001--250,000                        1          239,736       2.24      8.990       358         75.00       559
250,001--275,000                        1          253,863       2.37      8.850       358         85.00       641
275,001--300,000                        2          575,656       5.37      8.039       357         69.60       612
300,001--325,000                        1          313,749       2.93      7.490       356         78.75       604
325,001--350,000                        1          333,019       3.11      8.750       357         80.00       577
350,001--375,000                        3        1,078,444      10.06      8.615       357         77.78       663
450,001--475,000                        2          920,000       8.58      8.065       357         80.00       688
475,001--500,000                        4        1,959,980      18.29      8.155       355         74.79       679
500,001--750,000                        4        2,296,839      21.43      8.146       357         78.87       673
750,001--1,000,000                      1          772,045       7.20      8.350       356         90.00       648
-------------------------------------------------------------------------------------------------------------------
Total:                                 33       10,718,038     100.00      8.454       349         77.76       655
-------------------------------------------------------------------------------------------------------------------


Minimum: 53,958
Maximum: 772,045
Average: 324,789

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

180                                   4          444,394       4.15     11.017       176       100.00       696
360                                  29       10,273,644      95.85      8.343       357        76.79       654
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349        77.76       655
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 353

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

169--180                              4          444,394       4.15     11.017       176        100.00      696
349--360                             29       10,273,644      95.85      8.343       357         76.79      654
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349         77.76      655
-----------------------------------------------------------------------------------------------------------------


Minimum: 175
Maximum: 359
Weighted Average: 349

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

15.01--20.00                          1          199,549       1.86      8.900       356         18.18      526
45.01--50.00                          1          163,532       1.53      7.740       356         47.54      736
50.01--55.00                          1          359,503       3.35      9.850       357         53.33      645
55.01--60.00                          1          299,265       2.79      8.500       356         60.00      537
60.01--65.00                          1          169,592       1.58      8.600       356         61.82      525
65.01--70.00                          1          483,588       4.51      9.050       356         67.60      625
70.01--75.00                          3        1,484,915      13.85      7.854       355         74.88      644
75.01--80.00                         12        4,464,538      41.65      8.074       357         79.57      680
80.01--85.00                          5        1,158,176      10.81      9.362       358         83.44      632
85.01--90.00                          3        1,490,987      13.91      8.180       357         90.00      659
95.01--100.00                         4          444,394       4.15     11.017       176        100.00      696
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349         77.76      655
-----------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 77.76

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      6          715,824       6.68     10.078       245        85.18       693
4.501--5.000                          2          684,847       6.39      7.636       357        80.00       746
5.001--5.500                          7        2,940,461      27.43      8.296       355        73.38       627
5.501--6.000                          5        1,668,853      15.57      9.050       357        70.47       615
6.001--6.500                          3        1,055,128       9.84      7.739       358        82.23       657
6.501--7.000                          5        2,062,741      19.25      7.992       357        80.10       652
7.001--7.500                          3          962,429       8.98      8.302       356        84.40       742
7.501--8.000                          1          167,754       1.57     10.990       358        85.00       641
8.001--8.500                          1          460,000       4.29      9.090       357        80.00       626
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349        77.76       655
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.625
Maximum: 8.125
Non-Zero Weighted Average: 6.163

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      6          715,824       6.68     10.078       245        85.18       693
7.001--7.500                          4        2,021,534      18.86      7.354       357        77.19       691
7.501--8.000                          6        2,029,063      18.93      7.751       356        80.44       675
8.001--8.500                          4        1,914,860      17.87      8.284       356        82.80       678
8.501--9.000                          7        2,224,959      20.76      8.879       357        73.62       593
9.001--9.500                          3        1,062,468       9.91      9.106       357        74.92       628
9.501--10.000                         2          581,575       5.43      9.735       357        63.51       636
10.501--11.000                        1          167,754       1.57     10.990       358        85.00       641
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349        77.76       655
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 7.040
Maximum: 10.990
Non-Zero Weighted Average: 8.337

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      6          715,824       6.68     10.078       245        85.18       693
<= 12.500                             2        1,062,035       9.91      7.427       357        76.11       662
13.501--14.000                        3          702,160       6.55      8.756       356        58.04       550
14.001--14.500                        5        2,514,398      23.46      8.092       356        77.69       659
14.501--15.000                        7        2,388,565      22.29      8.067       356        76.36       670
15.001--15.500                        2          843,549       7.87      8.147       356        84.31       756
15.501--16.000                        4        1,522,799      14.21      8.936       357        80.80       613
16.001--16.500                        2          578,880       5.40      9.154       357        81.03       630
16.501--17.000                        1          222,073       2.07      9.550       357        80.00       622
17.501--18.000                        1          167,754       1.57     10.990       358        85.00       641
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349        77.76       655
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.400
Maximum: 17.990
Non-Zero Weighted Average: 14.709

INITIAL PERIODIC CAP (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      6          715,824       6.68     10.078       245        85.18       693
1.500                                 5        1,881,801      17.56      8.651       357        81.06       667
2.000                                 8        2,962,678      27.64      8.346       357        69.34       620
3.000                                14        5,157,734      48.12      8.218       356        80.35       666
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349        77.76       655
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.422

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      6          715,824       6.68     10.078       245        85.18       693
1.000                                 9        3,678,596      34.32      8.412       356        70.92       621
1.500                                17        5,826,724      54.36      8.320       357        81.43       675
2.000                                 1          496,893       4.64      7.990       351        74.63       623
-----------------------------------------------------------------------------------------------------------------
Total:                               33       10,718,038     100.00      8.454       349        77.76       655
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------

Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     6          715,824       6.68     10.078       245        85.18       693
15                                   1          496,893       4.64      7.990       351        74.63       623
19                                   1          519,419       4.85      8.900       355        80.00       612
20                                   8        3,081,338      28.75      8.381       356        74.67       644
21                                   7        3,379,660      31.53      8.025       357        75.60       685
22                                   5          982,382       9.17      8.707       358        82.75       666
23                                   1          355,392       3.32      7.800       359        90.00       604
33                                   2          437,612       4.08      8.663       357        80.00       642
34                                   2          749,517       6.99      8.990       358        79.94       604
----------------------------------------------------------------------------------------------------------------
Total:                              33       10,718,038     100.00      8.454       349        77.76       655
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 15
Maximum: 34
Non-Zero Weighted Average: 22

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

California                          12        5,208,606      48.60      8.346       346        77.16       665
Illinois                             7        1,989,292      18.56      8.443       347        76.97       665
Florida                              3        1,056,071       9.85      8.932       357        74.36       655
New York                             1          519,419       4.85      8.900       355        80.00       612
Connecticut                          3          439,090       4.10      8.667       334        75.44       610
Oregon                               1          355,392       3.32      7.800       359        90.00       604
District of Columbia                 1          313,749       2.93      7.490       356        78.75       604
Rhode Island                         1          276,391       2.58      7.540       358        80.00       693
Missouri                             1          167,754       1.57     10.990       358        85.00       641
Washington                           1          165,494       1.54      7.625       358        80.00       699
Louisiana                            1          118,880       1.11      9.400       358        85.00       645
Texas                                1          107,899       1.01      9.750       358        81.20       614
----------------------------------------------------------------------------------------------------------------
Total:                              33       10,718,038     100.00      8.454       349        77.76       655
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 12

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------
OCCUPANCY



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Occupancy                               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Primary                                  21        6,887,823      64.26      8.467       345        77.15       650
Investment                               12        3,830,215      35.74      8.430       357        78.84       665
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Property Type                           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

2-4 Family                               33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Loan Purpose                            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Purchase                                 18        5,331,474      49.74      8.428       342        82.41       687
Refinance--Cashout                       14        4,638,278      43.28      8.653       356        72.85       614
Refinance--Rate Term                      1          748,286       6.98      7.400       357        75.00       686
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Documentation Level                     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Stated Documentation                     20        6,716,596      62.67      8.640       348        76.63       654
Full Documentation                       10        3,257,067      30.39      8.276       350        79.37       644
Limited Documentation                     3          744,374       6.95      7.547       357        80.80       722
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------
CREDIT SCORE


                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Credit Score                            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

525--549                                  3          668,406       6.24      8.645       356        47.98       531
550--574                                  1          239,736       2.24      8.990       358        75.00       559
575--599                                  1          333,019       3.11      8.750       357        80.00       577
600--624                                  6        2,015,424      18.80      8.379       355        80.31       613
625--649                                  8        3,125,414      29.16      9.066       357        78.72       636
650--674                                  3          363,341       3.39      9.401       283        88.14       665
675--699                                  4        1,312,945      12.25      7.691       340        79.02       690
700--724                                  2          673,317       6.28      8.432       311        82.88       706
725--749                                  2          527,081       4.92      8.050       356        76.83       737
750--774                                  3        1,459,353      13.62      7.607       357        80.00       760
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 525
Maximum: 770
Non-Zero Weighted Average: 655

PREPAYMENT PENALTY TERM



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
PREPAYMENT PENALTY TERM                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

0                                         6        1,469,939      13.71      8.727       344        75.90       631
12                                        4        2,087,209      19.47      8.203       356        83.70       673
24                                       17        5,977,120      55.77      8.286       357        74.31       656
36                                        6        1,183,770      11.04      9.404       304        87.01       654
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 23

LIEN POSITION



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Lien Position                           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

1st Lien                                 29       10,273,644      95.85      8.343       357        76.79       654
2nd Lien                                  4          444,394       4.15     11.017       176       100.00       696
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 4 FAMILY                                                    33 records
                                                            Balance: $10,718,038
--------------------------------------------------------------------------------
INTEREST ONLY TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Interest Only Term                      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

0                                        30        9,318,038      86.94      8.510       348        77.42       646
60                                        3        1,400,000      13.06      8.082       357        80.00       716
---------------------------------------------------------------------------------------------------------------------
Total:                                   33       10,718,038     100.00      8.454       349        77.76       655
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 2
Aggregate Principal Balance ($): 431,400
Weighted Average Current Mortgage Rate (%): 7.225
Non-Zero Weighted Average Margin (%): 6.757
Non-Zero Weighted Average Maximum Rate (%): 14.225
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 358
Weighted Average Combined Original LTV (%): 79.45
% First Liens: 100.00
% Owner Occupied: 100.00
% Purchase: 48.77
% Full Doc: 51.23
Non-Zero Weighted Average Credit Score: 606

ORIGINATOR



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Originator              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

First NLC                               1        210,400        48.77      8.250       358        80.00       628
New Century                             1        221,000        51.23      6.250       358        78.93       585
-------------------------------------------------------------------------------------------------------------------
Total:                                  2        431,400       100.00      7.225       358        79.45       606
-------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Interest Only ARM--2 Year/6
   Month--24 mo. IO term                2        431,400       100.00      7.225       358        79.45       606
-------------------------------------------------------------------------------------------------------------------
Total:                                  2        431,400       100.00      7.225       358        79.45       606
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            1        221,000        51.23      6.250       358        78.93       585
8.000--8.999                            1        210,400        48.77      8.250       358        80.00       628
-------------------------------------------------------------------------------------------------------------------
Total:                                  2        431,400       100.00      7.225       358        79.45       606
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.250
Maximum: 8.250
Weighted Average: 7.225

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

200,001--225,000                      2        431,400       100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------
Total:                                2        431,400       100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------


Minimum: 210,400
Maximum: 221,000
Average: 215,700

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

360                                   2         431,400      100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------
Total:                                2         431,400      100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

349--360                              2        431,400       100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------
Total:                                2        431,400       100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------


Minimum: 358
Maximum: 358
Weighted Average: 358

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

75.01--80.00                          2        431,400       100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------
Total:                                2        431,400       100.00      7.225       358        79.45       606
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Range of Gross Margins (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

6.001--6.500                              1        221,000        51.23      6.250       358        78.93       585
7.001--7.500                              1        210,400        48.77      8.250       358        80.00       628
---------------------------------------------------------------------------------------------------------------------
Total:                                    2        431,400       100.00      7.225       358        79.45       606
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.050
Maximum: 7.500
Non-Zero Weighted Average: 6.757

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Minimum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

6.001--6.500                              1        221,000        51.23      6.250       358        78.93       585
8.001--8.500                              1        210,400        48.77      8.250       358        80.00       628
---------------------------------------------------------------------------------------------------------------------
Total:                                    2        431,400       100.00      7.225       358        79.45       606
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.250
Maximum: 8.250
Non-Zero Weighted Average: 7.225

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

13.001--13.500                            1        221,000        51.23      6.250       358        78.93       585
15.001--15.500                            1        210,400        48.77      8.250       358        80.00       628
---------------------------------------------------------------------------------------------------------------------
Total:                                    2        431,400       100.00      7.225       358        79.45       606
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13.250
Maximum: 15.250
Non-Zero Weighted Average: 14.225

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1.500                                1        221,000        51.23      6.250       358        78.93       585
3.000                                1        210,400        48.77      8.250       358        80.00       628
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.232

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1.500                                2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 1.500
Non-Zero Weighted Average: 1.500

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

22                                   2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 22
Maximum: 22
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Nevada                                     1        221,000        51.23        6.250     358        78.93       585
Arizona                                    1        210,400        48.77        8.250     358        80.00       628
----------------------------------------------------------------------------------------------------------------------
Total:                                     2        431,400       100.00        7.225     358        79.45       606
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 2

OCCUPANCY



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
               Occupancy                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Primary                                    2        431,400       100.00        7.225     358        79.45       606
----------------------------------------------------------------------------------------------------------------------
Total:                                     2        431,400       100.00        7.225     358        79.45       606
----------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Property Type               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Single Family Residence                    2        431,400       100.00        7.225     358        79.45       606
----------------------------------------------------------------------------------------------------------------------
Total:                                     2        431,400       100.00        7.225     358        79.45       606
----------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Loan Purpose                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                         1        221,000        51.23      6.250       358        78.93       585
Purchase                                   1        210,400        48.77      8.250       358        80.00       628
----------------------------------------------------------------------------------------------------------------------
Total:                                     2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Documentation Level         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Full Documentation                   1        221,000        51.23      6.250       358        78.93       585
Stated Documentation                 1        210,400        48.77      8.250       358        80.00       628
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Credit Score           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

575--599                             1        221,000        51.23      6.250       358        78.93       585
625--649                             1        210,400        48.77      8.250       358        80.00       628
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 585
Maximum: 628
Non-Zero Weighted Average: 606

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Prepayment Penalty Term      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

24                                   2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 24
Maximum: 24
Non-Zero Weighted Average: 24

LIEN POSITION



                                                              % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
               Lien              Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Position             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

1st Lien                             2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 24 MONTH IO--2 YEAR ARM                                      2 records
                                                               Balance: $431,400
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

24                                   2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------
Total:                               2        431,400       100.00      7.225       358        79.45       606
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,068
Aggregate Principal Balance ($): 272,808,908
Weighted Average Current Mortgage Rate (%): 8.249
Non-Zero Weighted Average Margin (%): 6.270
Non-Zero Weighted Average Maximum Rate (%): 15.012
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.03
%First Liens: 100.00
%Owner Occupied: 94.41
%Purchase: 41.13
%Full Doc: 39.75
Non-Zero Weighted Average Credit Score: 625

ORIGINATOR



                                                               % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Accredited                              188     42,593,702      15.61      8.494       357        77.96       620
Chapel                                    2        361,171       0.13      8.175       353        77.91       637
Encore                                   91     27,539,711      10.09      8.256       356        81.81       627
First Banc                                7      1,463,971       0.54      8.404       356        79.92       580
First Horizon                            11      1,817,204       0.67      9.118       358        83.93       620
First NLC                               391     94,462,809      34.63      8.063       357        80.49       631
Flex Point                                6      1,897,464       0.70      8.957       357        75.56       589
Funding America                           2        484,962       0.18      8.724       355        82.49       595
Lenders Direct                            7      2,100,622       0.77      8.010       354        77.03       602
Lime Financial                           11      2,640,505       0.97      8.267       356        83.80       624
Mandalay                                  7      1,661,368       0.61      7.111       353        77.24       642
Master Financial                         54     18,484,991       6.78      8.130       355        81.18       624
Maxim                                     3        830,664       0.30      8.592       357        81.15       583
New Century                             259     68,007,429      24.93      8.390       358        79.61       623
Rose Mortgage                            29      8,462,336       3.10      8.036       358        80.60       601
-------------------------------------------------------------------------------------------------------------------
Total:                                1,068    272,808,908     100.00      8.249       357        80.03       625
-------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Balloon--30/40                           67     14,725,319       5.40      7.933       357        78.80       627
ARM--2 Year/6 Month Balloon 30/40       789    213,147,286      78.13      8.242       357        80.12       626
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.07      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40       211     44,732,369      16.40      8.383       357        80.00       616
-------------------------------------------------------------------------------------------------------------------
Total:                                1,068    272,808,908     100.00      8.249       357        80.03       625
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        270,882       0.10      5.990       350        90.00       614
6.000--6.999                             85     24,690,750       9.05      6.690       357        76.48       661
7.000--7.999                            387    107,857,594      39.54      7.665       357        79.55       638
8.000--8.999                            362     89,256,283      32.72      8.533       357        80.22       616
9.000--9.999                            168     39,432,877      14.45      9.527       357        82.66       599
10.000--10.999                           56      9,803,252       3.59     10.462       358        82.26       570
11.000--11.999                            9      1,497,271       0.55     11.297       358        77.24       557
-------------------------------------------------------------------------------------------------------------------
Total:                                1,068    272,808,908     100.00      8.249       357        80.03       625
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 11.900
Weighted Average: 8.249

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Balances ($)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

25,001--50,000                            1         37,966       0.01      8.850       356        46.91       541
50,001--75,000                           22      1,412,268       0.52      9.083       357        83.18       623
75,001--100,000                          42      3,627,651       1.33      9.068       357        77.45       593
100,001--125,000                         84      9,635,101       3.53      8.644       357        79.06       606
125,001--150,000                        110     15,286,457       5.60      8.753       357        77.54       601
150,001--175,000                         99     16,051,196       5.88      8.526       357        77.36       614
175,001--200,000                        114     21,495,178       7.88      8.410       357        79.56       611
200,001--225,000                         91     19,346,167       7.09      8.240       357        80.80       627
225,001--250,000                         69     16,383,373       6.01      8.291       357        78.73       612
250,001--275,000                         58     15,246,578       5.59      8.017       357        79.74       610
275,001--300,000                         68     19,575,325       7.18      8.125       357        79.94       632
300,001--325,000                         52     16,245,366       5.95      7.944       357        81.06       627
325,001--350,000                         37     12,478,791       4.57      8.184       357        81.52       627
350,001--375,000                         29     10,433,520       3.82      8.061       357        79.01       636
375,001--400,000                         32     12,483,926       4.58      8.090       357        80.44       641
400,001--425,000                         28     11,575,135       4.24      8.095       357        81.85       628
425,001--450,000                         27     11,848,095       4.34      7.808       357        79.06       624
450,001--475,000                         18      8,298,697       3.04      8.189       357        81.96       657
475,001--500,000                         24     11,803,881       4.33      8.294       357        81.69       631
500,001--750,000                         58     35,163,688      12.89      8.211       357        80.98       636
750,001--1,000,000                        5      4,380,551       1.61      8.221       358        82.65       659
-------------------------------------------------------------------------------------------------------------------
Total:                                1,068    272,808,908     100.00      8.249       357        80.03       625
-------------------------------------------------------------------------------------------------------------------


Minimum: 37,966
Maximum: 988,617
Average: 255,439

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

360                                 1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

349--360                            1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 360
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

20.01--25.00                            1        135,770       0.05      6.650       356        23.86       549
25.01--30.00                            1        144,693       0.05      7.875       353        29.59       548
30.01--35.00                            1        257,053       0.09      6.990       358        31.37       618
35.01--40.00                            4        567,660       0.21      8.870       357        38.55       576
40.01--45.00                           12      2,116,820       0.78      7.489       357        42.21       602
45.01--50.00                           13      2,180,097       0.80      8.115       357        47.14       585
50.01--55.00                           12      2,557,383       0.94      8.241       357        53.04       571
55.01--60.00                           20      4,190,077       1.54      7.953       357        57.87       599
60.01--65.00                           26      6,432,710       2.36      8.343       357        63.60       571
65.01--70.00                           42      9,613,940       3.52      8.607       357        68.76       570
70.01--75.00                           73     19,181,680       7.03      8.274       357        74.06       573
75.01--80.00                          546    147,356,191      54.01      8.075       357        79.84       644
80.01--85.00                          113     26,357,808       9.66      8.551       357        84.47       596
85.01--90.00                          129     33,148,288      12.15      8.418       357        89.59       622
90.01--95.00                           60     15,299,232       5.61      8.834       357        94.56       637
95.01--100.00                          15      3,269,509       1.20      8.866       357        99.91       634
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Minimum: 23.86
Maximum: 100.00
Weighted Average: 80.03

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.40      7.933       357        78.80       627
<= 3.500                                4        897,622       0.33      7.353       355        82.95       652
3.501--4.000                            3        878,124       0.32      7.244       357        77.02       667
4.001--4.500                           15      3,904,588       1.43      7.589       357        73.82       627
4.501--5.000                           50     14,501,275       5.32      8.082       357        79.94       647
5.001--5.500                          116     34,833,336      12.77      8.164       356        83.08       635
5.501--6.000                          185     47,679,670      17.48      8.471       357        79.95       618
6.001--6.500                          253     66,585,901      24.41      8.073       358        80.54       632
6.501--7.000                          138     35,015,393      12.84      8.145       357        77.72       617
7.001--7.500                          196     42,650,933      15.63      8.524       357        79.79       613
7.501--8.000                           31      8,181,398       3.00      8.858       357        79.63       610
8.001--8.500                            7      2,055,217       0.75      8.907       356        76.65       563
8.501--9.000                            2        694,733       0.25      9.364       358        93.35       672
9.001--9.500                            1        205,400       0.08      9.350       357        80.00       650
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.100
Non-Zero Weighted Average: 6.270

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.40      7.933       357        78.80       627
5.501--6.000                            5      1,763,168       0.65      6.984       354        85.16       660
6.001--6.500                           18      5,223,275       1.91      6.408       357        78.21       640
6.501--7.000                           56     14,958,779       5.48      6.824       357        77.61       659
7.001--7.500                          104     30,070,794      11.02      7.318       357        79.26       649
7.501--8.000                          267     73,921,072      27.10      7.819       357        79.54       634
8.001--8.500                          147     39,353,872      14.43      8.275       357        80.68       624
8.501--9.000                          188     45,505,231      16.68      8.778       357        79.68       612
9.001--9.500                           72     18,343,192       6.72      9.290       357        82.22       621
9.501--10.000                          83     18,371,736       6.73      9.814       357        82.78       578
10.001 -10.500                         27      5,662,586       2.08     10.288       357        82.29       582
10.501--11.000                         27      3,646,270       1.34     10.787       358        82.67       558
11.001--11.500                          6      1,081,645       0.40     11.200       358        69.57       552
11.501--12.000                          1        181,968       0.07     11.900       358       100.00       576
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.900
Non-Zero Weighted Average: 8.258

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.40      7.933       357        78.80       627
<= 12.500                              22      6,526,516       2.39      6.853       356        79.07       651
12.501--13.000                         24      6,927,306       2.54      7.761       356        84.47       628
13.001--13.500                         35     10,430,899       3.82      7.418       357        79.71       623
13.501--14.000                         77     21,281,533       7.80      7.401       357        78.54       643
14.001--14.500                        100     29,163,972      10.69      7.481       357        79.25       650
14.501--15.000                        241     66,586,164      24.41      7.877       357        79.26       635
15.001--15.500                        133     35,644,294      13.07      8.403       357        81.12       623
15.501--16.000                        176     41,247,377      15.12      8.831       357        79.68       608
16.001--16.500                         65     16,041,135       5.88      9.313       357        81.81       621
16.501--17.000                         74     15,788,958       5.79      9.812       357        82.61       578
17.001--17.500                         23      4,061,269       1.49     10.217       358        80.80       570
17.501--18.000                         25      3,278,429       1.20     10.794       358        82.41       556
18.001--18.500                          5        923,769       0.34     11.217       358        74.61       552
18.501--19.000                          1        181,968       0.07     11.900       358       100.00       576
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 18.900
Non-Zero Weighted Average: 15.012

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.40      7.933       357        78.80       627
1.500                                 218     51,237,641      18.78      8.565       357        78.74       621
2.000                                 302     82,713,353      30.32      8.337       358        80.23       622
3.000                                 481    124,132,595      45.50      8.097       357        80.58       628
-----------------------------------------------------------------------------------------------------------------
Total:                              1,068    272,808,908     100.00      8.249       357        80.03       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.382

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      67     14,725,319       5.40      7.933       357        78.80       627
1.000                                206     61,357,185      22.49      8.232       356        81.17       620
1.500                                794    196,447,744      72.01      8.279       357        79.77       626
2.000                                  1        278,661       0.10      7.850       356        80.00       757
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average:   1.382

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      67     14,725,319       5.40      7.933       357        78.80       627
14                                     2        381,729       0.14      6.501       350        87.10       621
15                                     7      1,489,076       0.55      7.618       351        79.84       670
16                                     4        659,500       0.24      8.600       352        74.13       584
17                                    17      5,207,161       1.91      8.037       353        80.22       653
18                                    12      3,074,833       1.13      8.343       354        79.09       616
19                                    52     14,764,133       5.41      8.235       355        79.90       624
20                                   116     34,001,954      12.46      8.251       356        80.19       627
21                                   196     54,293,985      19.90      8.288       357        80.94       625
22                                   293     79,288,734      29.06      8.200       358        79.21       626
23                                    89     19,648,116       7.20      8.382       359        81.96       623
24                                     2        542,000       0.20      8.514       360        75.23       609
28                                     2        358,456       0.13      8.226       352        82.66       614
30                                     1        190,969       0.07      8.600       354        85.00       582
31                                     5      1,051,719       0.39      7.894       355        78.83       553
32                                    12      3,419,629       1.25      7.976       356        81.73       638
33                                    78     16,512,135       6.05      8.355       357        81.29       616
34                                   107     21,560,802       7.90      8.465       358        79.37       617
35                                     6      1,638,658       0.60      8.767       359        71.38       586
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 35
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

California                           330    115,067,138      42.18      8.025       357        79.33       635
Florida                              139     29,546,226      10.83      8.428       357        78.80       614
Illinois                              98     19,959,413       7.32      8.672       357        82.56       625
New York                              37     13,793,000       5.06      7.859       357        77.56       639
Arizona                               62     12,314,703       4.51      8.534       357        79.30       609
Washington                            43      8,799,311       3.23      8.035       357        82.06       616
Maryland                              34      8,327,604       3.05      8.100       357        78.62       606
Nevada                                29      7,450,309       2.73      8.329       357        80.28       613
Massachusetts                         29      6,729,629       2.47      8.238       358        83.56       616
New Jersey                            18      6,028,757       2.21      8.663       357        79.93       613
Oregon                                24      4,846,265       1.78      8.178       357        81.82       598
Hawaii                                10      4,611,985       1.69      8.209       357        77.23       641
Connecticut                           19      4,537,138       1.66      8.422       358        81.68       631
Virginia                              18      3,909,718       1.43      8.618       357        79.92       613
Colorado                              21      3,665,165       1.34      8.367       358        81.52       624
Other                                157     23,222,548       8.51      8.761       357        83.08       609
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 41

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Occupancy               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Primary                            1,001    257,553,920      94.41      8.195       357        79.96       624
Investment                            55     11,272,865       4.13      9.257       357        80.17       639
Second Home                           12      3,982,123       1.46      8.873       357        84.25       634
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Property Type              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Single Family Residence              856    210,951,966      77.33      8.225       357        80.20       622
2-4 Family                            68     22,409,642       8.21      8.249       357        77.66       638
Condo                                 82     20,038,857       7.35      8.448       357        81.98       642
Planned Unit Development              62     19,408,443       7.11      8.302       357        78.95       618
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Loan Purpose              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Refinance--Cashout                   595    150,345,197      55.11      8.335       357        79.02       602
Purchase                             421    112,211,315      41.13      8.143       357        81.11       656
Refinance--Rate Term                  52     10,252,396       3.76      8.140       357        82.98       618
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Documentation Level         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Stated Documentation                 568    154,838,946      56.76      8.399       357        79.56       638
Full Documentation                   465    108,447,505      39.75      8.045       357        80.72       607
Limited Documentation                 35      9,522,457       3.49      8.136       357        79.82       607
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Credit Score              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

500--524                              63     12,371,257       4.53      9.479       357        73.82       511
525--549                              67     14,099,093       5.17      8.846       357        72.17       537
550--574                             103     24,944,051       9.14      8.706       357        78.00       562
575--599                             148     35,099,518      12.87      8.497       357        80.53       588
600--624                             187     46,294,213      16.97      8.174       357        80.93       612
625--649                             215     55,634,722      20.39      8.086       357        81.05       636
650--674                             127     36,897,981      13.53      7.952       357        81.49       660
675--699                              64     19,645,693       7.20      7.776       357        80.41       687
700--724                              51     15,278,895       5.60      7.926       357        83.49       710
725--749                              24      7,254,687       2.66      7.931       357        80.97       736
750--774                              13      3,652,116       1.34      7.628       358        80.54       760
775--799                               5      1,517,922       0.56      7.324       357        79.15       787
800 +                                  1        118,759       0.04      7.375       359        90.00       814
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00      8.249       357        80.03       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 625

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 30-40 BALLOONS                                           1,068 records
                                                           Balance: $272,808,908
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Prepayment Penalty Term         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                    252     63,281,160      23.20       8.655      357        81.53       625
6                                      5      1,420,720       0.52       8.576      356        79.92       625
12                                    74     23,594,689       8.65       8.194      357        78.98       648
24                                   513    135,461,030      49.65       8.072      357        79.68       623
30                                     1        174,090       0.06       8.800      356        85.00       640
36                                   209     46,769,243      17.14       8.201      357        79.66       618
48                                     1        145,964       0.05       8.500      359        36.50       529
60                                    13      1,962,011       0.72       8.847      358        80.39       566
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00       8.249      357        80.03       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Lien Position             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1st Lien                           1,068    272,808,908     100.00       8.249      357        80.03       625
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00       8.249      357        80.03       625
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                  1,068    272,808,908     100.00       8.249      357        80.03       625
----------------------------------------------------------------------------------------------------------------
Total:                             1,068    272,808,908     100.00       8.249      357        80.03       625
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,070
Aggregate Principal Balance ($): 273,546,325
Weighted Average Current Mortgage Rate (%): 8.245
Non-Zero Weighted Average Margin (%): 6.268
Non-Zero Weighted Average Maximum Rate (%): 15.005
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.02
% First Liens: 100.00
% Owner Occupied: 94.42
% Purchase: 41.00
% Full Doc: 39.62
Non-Zero Weighted Average Credit Score: 625

ORIGINATOR



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Accredited                              188     42,593,702      15.57      8.494       357        77.96       620
Chapel                                    3        496,653       0.18      7.773       352        78.48       642
Encore                                   92     28,141,647      10.29      8.227       356        81.62       627
First Banc                                7      1,463,971       0.54      8.404       356        79.92       580
First Horizon                            11      1,817,204       0.66      9.118       358        83.93       620
First NLC                               391     94,462,809      34.53      8.063       357        80.49       631
Flex Point                                6      1,897,464       0.69      8.957       357        75.56       589
Funding America                           2        484,962       0.18      8.724       355        82.49       595
Lenders Direct                            7      2,100,622       0.77      8.010       354        77.03       602
Lime Financial                           11      2,640,505       0.97      8.267       356        83.80       624
Mandalay                                  7      1,661,368       0.61      7.111       353        77.24       642
Master Financial                         54     18,484,991       6.76      8.130       355        81.18       624
Maxim                                     3        830,664       0.30      8.592       357        81.15       583
New Century                             259     68,007,429      24.86      8.390       358        79.61       623
Rose Mortgage                            29      8,462,336       3.09      8.036       358        80.60       601
-------------------------------------------------------------------------------------------------------------------
Total:                                1,070    273,546,325     100.00      8.245       357        80.02       625
-------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Product with IO term           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Balloon--30/40                           67     14,725,319       5.38      7.933       357        78.80       627
ARM--2 Year/6 Month Balloon 30/40       789    213,147,286      77.92      8.242       357        80.12       626
ARM--3 Year/6 Month Balloon 30/40       211     44,732,369      16.35      8.383       357        80.00       616
Dual Amort--10/40--2 Year/6 Month         3        941,351       0.34      7.192       352        75.59       631
-------------------------------------------------------------------------------------------------------------------
Total:                                1,070    273,546,325     100.00      8.245       357        80.02       625
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        270,882       0.10      5.990       350        90.00       614
6.000--6.999                             86     24,826,231       9.08      6.690       357        76.50       661
7.000--7.999                            389    108,663,464      39.72      7.662       357        79.51       638
8.000--8.999                            361     89,052,348      32.55      8.534       357        80.22       616
9.000--9.999                            168     39,432,877      14.42      9.527       357        82.66       599
10.000--10.999                           56      9,803,252       3.58     10.462       358        82.26       570
11.000--11.999                            9      1,497,271       0.55     11.297       358        77.24       557
-------------------------------------------------------------------------------------------------------------------
Total:                                1,070    273,546,325     100.00      8.245       357        80.02       625
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 11.900
Weighted Average: 8.245

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

25,001--50,000                            1         37,966       0.01      8.850       356        46.91       541
50,001--75,000                           22      1,412,268       0.52      9.083       357        83.18       623
75,001--100,000                          42      3,627,651       1.33      9.068       357        77.45       593
100,001--125,000                         84      9,635,101       3.52      8.644       357        79.06       606
125,001--150,000                        111     15,421,938       5.64      8.735       357        77.56       602
150,001--175,000                         99     16,051,196       5.87      8.526       357        77.36       614
175,001--200,000                        114     21,495,178       7.86      8.410       357        79.56       611
200,001--225,000                         91     19,349,867       7.07      8.230       357        80.58       627
225,001--250,000                         69     16,383,373       5.99      8.291       357        78.73       612
250,001--275,000                         58     15,246,578       5.57      8.017       357        79.74       610
275,001--300,000                         68     19,575,325       7.16      8.125       357        79.94       632
300,001--325,000                         52     16,245,366       5.94      7.944       357        81.06       627
325,001--350,000                         37     12,478,791       4.56      8.184       357        81.52       627
350,001--375,000                         29     10,433,520       3.81      8.061       357        79.01       636
375,001--400,000                         32     12,483,926       4.56      8.090       357        80.44       641
400,001--425,000                         28     11,575,135       4.23      8.095       357        81.85       628
425,001--450,000                         27     11,848,095       4.33      7.808       357        79.06       624
450,001--475,000                         18      8,298,697       3.03      8.189       357        81.96       657
475,001--500,000                         24     11,803,881       4.32      8.294       357        81.69       631
500,001--750,000                         59     35,761,923      13.07      8.194       357        80.96       636
750,001--1,000,000                        5      4,380,551       1.60      8.221       358        82.65       659
-------------------------------------------------------------------------------------------------------------------
Total:                                1,070    273,546,325     100.00      8.245       357        80.02       625
-------------------------------------------------------------------------------------------------------------------


Minimum: 37,966
Maximum: 988,617
Average: 255,651

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

360                                 1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

349--360                            1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 360
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

20.01--25.00                            1        135,770       0.05      6.650       356        23.86       549
25.01--30.00                            1        144,693       0.05      7.875       353        29.59       548
30.01--35.00                            1        257,053       0.09      6.990       358        31.37       618
35.01--40.00                            4        567,660       0.21      8.870       357        38.55       576
40.01--45.00                           12      2,116,820       0.77      7.489       357        42.21       602
45.01--50.00                           13      2,180,097       0.80      8.115       357        47.14       585
50.01--55.00                           12      2,557,383       0.93      8.241       357        53.04       571
55.01--60.00                           21      4,397,713       1.61      7.931       357        57.97       600
60.01--65.00                           26      6,432,710       2.35      8.343       357        63.60       571
65.01--70.00                           42      9,613,940       3.51      8.607       357        68.76       570
70.01--75.00                           73     19,181,680       7.01      8.274       357        74.06       573
75.01--80.00                          547    147,885,972      54.06      8.070       357        79.84       644
80.01--85.00                          113     26,357,808       9.64      8.551       357        84.47       596
85.01--90.00                          129     33,148,288      12.12      8.418       357        89.59       622
90.01--95.00                           60     15,299,232       5.59      8.834       357        94.56       637
95.01--100.00                          15      3,269,509       1.20      8.866       357        99.91       634
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------

Minimum: 23.86
Maximum: 100.00
Weighted Average: 80.02

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off     Cut-off      Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage   Principal     Principal   Interest     Term      Original     FICO
   Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.38      7.933       357        78.80       627
<= 3.500                                4        897,622       0.33      7.353       355        82.95       652
3.501--4.000                            3        878,124       0.32      7.244       357        77.02       667
4.001--4.500                           15      3,904,588       1.43      7.589       357        73.82       627
4.501--5.000                           50     14,501,275       5.30      8.082       357        79.94       647
5.001--5.500                          117     35,435,272      12.95      8.142       356        82.91       635
5.501--6.000                          186     47,815,151      17.48      8.466       357        79.95       618
6.001--6.500                          253     66,585,901      24.34      8.073       358        80.54       632
6.501--7.000                          138     35,015,393      12.80      8.145       357        77.72       617
7.001--7.500                          196     42,650,933      15.59      8.524       357        79.79       613
7.501--8.000                           31      8,181,398       2.99      8.858       357        79.63       610
8.001--8.500                            7      2,055,217       0.75      8.907       356        76.65       563
8.501--9.000                            2        694,733       0.25      9.364       358        93.35       672
9.001--9.500                            1        205,400       0.08      9.350       357        80.00       650
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.100
Non-Zero Weighted Average: 6.268

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                  Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.38      7.933       357        78.80       627
5.501--6.000                            5      1,763,168       0.64      6.984       354        85.16       660
6.001--6.500                           18      5,223,275       1.91      6.408       357        78.21       640
6.501--7.000                           57     15,094,261       5.52      6.823       357        77.63       659
7.001--7.500                          106     30,876,664      11.29      7.317       357        79.14       649
7.501--8.000                          267     73,921,072      27.02      7.819       357        79.54       634
8.001--8.500                          146     39,149,937      14.31      8.274       357        80.68       624
8.501--9.000                          188     45,505,231      16.64      8.778       357        79.68       612
9.001--9.500                           72     18,343,192       6.71      9.290       357        82.22       621
9.501--10.000                          83     18,371,736       6.72      9.814       357        82.78       578
10.001 -10.500                        27       5,662,586       2.07     10.288       357        82.29       582
10.501--11.000                         27      3,646,270       1.33     10.787       358        82.67       558
11.001--11.500                          6      1,081,645       0.40     11.200       358        69.57       552
11.501--12.000                          1        181,968       0.07     11.900       358       100.00       576
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.900
Non-Zero Weighted Average: 8.254

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average     Weighted
                                      of        Date          Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.38      7.933       357        78.80       627
<= 12.500                              23      7,124,751       2.60      6.882       355        79.15       649
12.501--13.000                         25      7,062,788       2.58      7.741       356        84.39       629
13.001--13.500                         34     10,226,965       3.74      7.398       357        79.70       623
13.501--14.000                         77     21,281,533       7.78      7.401       357        78.54       643
14.001--14.500                        101     29,371,607      10.74      7.481       357        79.12       650
14.501--15.000                        241     66,586,164      24.34      7.877       357        79.26       635
15.001--15.500                        133     35,644,294      13.03      8.403       357        81.12       623
15.501--16.000                        176     41,247,377      15.08      8.831       357        79.68       608
16.001--16.500                         65     16,041,135       5.86      9.313       357        81.81       621
16.501--17.000                         74     15,788,958       5.77      9.812       357        82.61       578
17.001--17.500                         23      4,061,269       1.48     10.217       358        80.80       570
17.501--18.000                         25      3,278,429       1.20     10.794       358        82.41       556
18.001--18.500                          5        923,769       0.34     11.217       358        74.61       552
18.501--19.000                          1        181,968       0.07     11.900       358       100.00       576
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 18.900
Non-Zero Weighted Average: 15.005

INITIAL PERIODIC CAP (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off     Cut-off      Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.38      7.933       357        78.80       627
1.500                                 218     51,237,641      18.73      8.565       357        78.74       621
2.000                                 302     83,107,654      30.38      8.328       357        80.23       622
3.000                                 483    124,475,712      45.50      8.095       357        80.54       628
-----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.382

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off     Cut-off      Average    Average    Average    Weighted
                                     of         Date         Date        Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Subsequent Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       67     14,725,319       5.38      7.933       357        78.80       627
1.000                                 207     61,886,966      22.62      8.218       356        81.16       620
1.500                                 794    196,447,744      71.82      8.279       357        79.77       626
2.000                                   2        486,296       0.18      7.696       354        71.46       696
----------------------------------------------------------------------------------------------------------------
Total:                              1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.381

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      67      14,725,319       5.38      7.933       357        78.80       627
14                                     2         381,729       0.14      6.501       350        87.10       621
15                                     8       1,624,558       0.59      7.541       351        79.85       669
16                                     6       1,465,370       0.54      7.871       352        74.53       607
17                                    17       5,207,161       1.90      8.037       353        80.22       653
18                                    12       3,074,833       1.12      8.343       354        79.09       616
19                                    52      14,764,133       5.40      8.235       355        79.90       624
20                                   116      34,001,954      12.43      8.251       356        80.19       627
21                                   195      54,090,051      19.77      8.287       357        80.95       625
22                                   293      79,288,734      28.99      8.200       358        79.21       626
23                                    89      19,648,116       7.18      8.382       359        81.96       623
24                                     2         542,000       0.20      8.514       360        75.23       609
28                                     2         358,456       0.13      8.226       352        82.66       614
30                                     1         190,969       0.07      8.600       354        85.00       582
31                                     5       1,051,719       0.38      7.894       355        78.83       553
32                                    12       3,419,629       1.25      7.976       356        81.73       638
33                                    78      16,512,135       6.04      8.355       357        81.29       616
34                                   107      21,560,802       7.88      8.465       358        79.37       617
35                                     6       1,638,658       0.60      8.767       359        71.38       586
-----------------------------------------------------------------------------------------------------------------
Total:                             1,070     273,546,325     100.00      8.245       357        80.02       625
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 35
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

California                           329    114,863,204      41.99      8.024       357        79.33       635
Florida                              140     29,753,861      10.88      8.421       357        78.67       614
Illinois                              98     19,959,413       7.30      8.672       357        82.56       625
New York                              37     13,793,000       5.04      7.859       357        77.56       639
Arizona                               62     12,314,703       4.50      8.534       357        79.30       609
Washington                            44      8,934,792       3.27      8.015       357        82.02       616
Maryland                              34      8,327,604       3.04      8.100       357        78.62       606
Nevada                                29      7,450,309       2.72      8.329       357        80.28       613
Massachusetts                         29      6,729,629       2.46      8.238       358        83.56       616
New Jersey                            18      6,028,757       2.20      8.663       357        79.93       613
Oregon                                24      4,846,265       1.77      8.178       357        81.82       598
Hawaii                                10      4,611,985       1.69      8.209       357        77.23       641
Connecticut                           19      4,537,138       1.66      8.422       358        81.68       631
Virginia                              18      3,909,718       1.43      8.618       357        79.92       613
Colorado                              21      3,665,165       1.34      8.367       358        81.52       624
Other                                158     23,820,782       8.71      8.722       357        83.00       610
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 41

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Occupancy             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Primary                            1,003    258,291,337      94.42      8.191       357        79.95       624
Investment                            55     11,272,865       4.12      9.257       357        80.17       639
Second Home                           12      3,982,123       1.46      8.873       357        84.25       634
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Property Type           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Single Family Residence              857    211,481,748      77.31      8.221       357        80.20       622
2-4 Family                            68     22,409,642       8.19      8.249       357        77.66       638
Condo                                 82     20,038,857       7.33      8.448       357        81.98       642
Planned Unit Development              63     19,616,078       7.17      8.293       357        78.75       618
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------
LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Loan Purpose             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Refinance--Cashout                   597    151,151,067      55.26      8.330       357        79.00       602
Purchase                             421    112,142,862      41.00      8.141       357        81.12       656
Refinance--Rate Term                  52     10,252,396       3.75      8.140       357        82.98       618
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Documentation Level         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Stated Documentation                 570    155,644,816      56.90      8.393       357        79.54       638
Full Documentation                   465    108,379,052      39.62      8.043       357        80.72       607
Limited Documentation                 35      9,522,457       3.48      8.136       357        79.82       607
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Credit Score             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

500--524                              63     12,371,257       4.52      9.479       357        73.82       511
525--549                              67     14,099,093       5.15      8.846       357        72.17       537
550--574                             103     24,944,051       9.12      8.706       357        78.00       562
575--599                             148     35,099,518      12.83      8.497       357        80.53       588
600--624                             188     46,501,849      17.00      8.171       357        80.84       612
625--649                             215     56,029,022      20.48      8.075       357        81.04       636
650--674                             128     37,033,462      13.54      7.948       357        81.49       660
675--699                              64     19,645,693       7.18      7.776       357        80.41       687
700--724                              51     15,278,895       5.59      7.926       357        83.49       710
725--749                              24      7,254,687       2.65      7.931       357        80.97       736
750--774                              13      3,652,116       1.34      7.628       358        80.54       760
775--799                               5      1,517,922       0.55      7.324       357        79.15       787
800 +                                  1        118,759       0.04      7.375       359        90.00       814
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 625

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET 40 YEAR AMORT                                            1,070 records
                                                           Balance: $273,546,325
--------------------------------------------------------------------------------
PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Prepayment Penalty Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

0                                    252     63,281,160      23.13      8.655       357        81.53       625
6                                      5      1,420,720       0.52      8.576       356        79.92       625
12                                    73     23,390,754       8.55      8.192       357        78.97       648
24                                   515    135,804,147      49.65      8.070       357        79.65       623
30                                     1        174,090       0.06      8.800       356        85.00       640
36                                   210     47,367,478      17.32      8.188       357        79.66       618
48                                     1        145,964       0.05      8.500       359        36.50       529
60                                    13      1,962,011       0.72      8.847       358        80.39       566
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
               Lien              Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Position             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

1st Lien                           1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

0                                  1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------
Total:                             1,070    273,546,325     100.00      8.245       357        80.02       625
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 519
Aggregate Principal Balance ($): 101,528,933
Weighted Average Current Mortgage Rate (%): 8.489
Non-Zero Weighted Average Margin (%): 5.384
Non-Zero Weighted Average Maximum Rate (%): 15.520
Weighted Average Stated Original Term (months): 359
Weighted Average Stated Remaining Term (months): 356
Weighted Average Combined Original LTV (%): 77.27
% First Liens: 100.00
% Owner Occupied: 93.86
% Purchase: 39.82
% Full Doc: 35.63
Non-Zero Weighted Average Credit Score: 621

ORIGINATOR



                                         % of
                                       Mortgage
                                       Pool by
                         Aggregate    Aggregate   Weighted    Weighted   Weighted
              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                of         Date          Date       Gross    Remaining   Combined    Average
             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Originator     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------

Accredited      519     101,528,933     100.00      8.489       356        77.27       621
--------------------------------------------------------------------------------------------
Total:          519     101,528,933     100.00      8.489       356        77.27       621
--------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date          Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Product with IO term             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                              2         132,232       0.13      9.241       118        80.00       619
Fixed--15 Year                              3         146,666       0.14      9.161       177        73.54       621
Fixed--20 Year                              4         286,068       0.28      9.879       239        75.08       533
Fixed--25 Year                              2         173,488       0.17      9.123       298        80.71       596
Fixed--30 Year                             75      10,948,413      10.78      8.395       358        70.73       620
Balloon--30/40                             22       4,647,892       4.58      7.991       358        73.48       624
ARM--2 Year/6 Month Balloon 30/40         108      25,410,534      25.03      8.461       357        78.36       626
ARM--3 Year/6 Month Balloon 30/40          58      12,535,276      12.35      8.747       358        78.82       607
ARM--2 Year/6 Month                       126      23,565,630      23.21      8.756       357        77.84       612
ARM--3 Year/6 Month                        66      10,200,576      10.05      9.014       358        77.71       580
ARM--5 Year/6 Month                         4         399,366       0.39      9.072       359        81.51       697
Interest Only Fixed--30 Year--60 mo.
IO term                                     3         883,600       0.87      8.162       358        79.96       677
Interest Only ARM--2 Year/6 Month--
60 mo. IO term                             24       7,121,555       7.01      7.584       358        78.71       668
Interest Only ARM--3 Year/6 Month--
60 mo. IO term                             17       4,191,051       4.13      7.601       358        81.06       677
Interest Only ARM--5 Year/6 Month--
60 mo. IO term                              3         607,900       0.60      6.666       358        66.57       661
Interest Only ARM--2 Year/6 Month--
120 mo. IO term                             1         186,686       0.18      8.000       358        80.00       641
Interest Only ARM--3 Year/6 Month--
120 mo. IO term                             1          92,000       0.09      7.250       359        80.00       652
----------------------------------------------------------------------------------------------------------------------
Total:                                    519     101,528,933     100.00      8.489       356        77.27       621
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                             1         306,900       0.30      5.700       358        52.93       643
6.000--6.999                            26       8,278,770       8.15      6.793       358        73.80       698
7.000--7.999                           133      31,079,070      30.61      7.733       357        77.12       661
8.000--8.999                           189      37,689,626      37.12      8.633       356        77.22       612
9.000--9.999                           126      19,228,669      18.94      9.633       356        79.13       559
10.000--10.999                          37       4,514,387       4.45     10.595       353        78.70       547
11.000--11.999                           4         275,564       0.27     11.505       347        78.89       557
12.000--12.999                           3         155,947       0.15     12.532       359        80.00       558
-------------------------------------------------------------------------------------------------------------------
Total:                                 519     101,528,933     100.00      8.489       356        77.27       621
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.999
Weighted Average: 8.489

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                        19         839,740       0.83      9.564       314        73.69       590
50,001--75,000                        34       2,085,747       2.05      9.614       345        73.72       567
75,001--100,000                       43       3,709,639       3.65      9.185       352        77.10       583
100,001--125,000                      66       7,489,403       7.38      9.026       355        78.02       584
125,001--150,000                      69       9,500,774       9.36      8.626       357        77.11       615
150,001--175,000                      51       8,261,776       8.14      8.686       358        75.80       611
175,001--200,000                      46       8,679,662       8.55      8.517       357        78.43       609
200,001--225,000                      38       8,004,795       7.88      8.607       357        76.85       633
225,001--250,000                      30       7,153,519       7.05      8.769       358        74.58       596
250,001--275,000                      14       3,683,208       3.63      8.340       357        75.18       617
275,001--300,000                      14       3,995,230       3.94      8.775       357        75.30       615
300,001--325,000                      19       5,900,763       5.81      8.212       357        78.84       618
325,001--350,000                      16       5,387,159       5.31      8.151       358        81.43       628
350,001--375,000                      12       4,372,802       4.31      8.182       357        78.47       638
375,001--400,000                      12       4,660,459       4.59      7.872       358        76.54       675
400,001--425,000                       9       3,708,350       3.65      7.897       357        79.05       639
425,001--450,000                       5       2,210,298       2.18      8.245       358        81.44       649
450,001--475,000                       2         938,145       0.92      8.749       354        70.83       576
475,001--500,000                       3       1,473,518       1.45      8.893       357        79.92       607
500,001--750,000                      17       9,473,947       9.33      7.750       357        77.30       672
-----------------------------------------------------------------------------------------------------------------
Total:                               519     101,528,933     100.00      8.489       356        77.27       621
-----------------------------------------------------------------------------------------------------------------


Minimum: 31,933
Maximum: 650,759
Average: 195,624

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

120                                    2         132,232       0.13      9.241       118        80.00       619
180                                    3         146,666       0.14      9.161       177        73.54       621
240                                    4         286,068       0.28      9.879       239        75.08       533
300                                    2         173,488       0.17      9.123       298        80.71       596
360                                  508     100,790,479      99.27      8.482       357        77.27       621
-----------------------------------------------------------------------------------------------------------------
Total:                               519     101,528,933     100.00      8.489       356        77.27       621
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 359

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

109--120                               2         132,232       0.13      9.241       118        80.00       619
169--180                               3         146,666       0.14      9.161       177        73.54       621
229--240                               4         286,068       0.28      9.879       239        75.08       533
289--300                               2         173,488       0.17      9.123       298        80.71       596
349--360                             508     100,790,479      99.27      8.482       357        77.27       621
-----------------------------------------------------------------------------------------------------------------
Total:                               519     101,528,933     100.00      8.489       356        77.27       621
-----------------------------------------------------------------------------------------------------------------


Minimum: 118
Maximum: 359
Weighted Average: 356

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

25.01--30.00                          1          99,847       0.10      7.375       358        27.78       659
30.01--35.00                          4         696,665       0.69      7.056       358        32.36       652
35.01--40.00                          3         637,417       0.63      8.145       358        37.30       575
40.01--45.00                          5       1,048,845       1.03      7.850       358        41.84       594
45.01--50.00                          9       1,462,358       1.44      8.566       358        48.07       593
50.01--55.00                          7       1,339,216       1.32      7.774       358        53.57       590
55.01--60.00                         11       1,621,421       1.60      7.939       353        57.97       602
60.01--65.00                         17       2,832,827       2.79      8.670       353        62.75       564
65.01--70.00                         26       5,190,623       5.11      8.746       357        68.85       603
70.01--75.00                         39       6,858,764       6.76      9.053       357        74.30       556
75.01--80.00                        272      57,651,548      56.78      8.244       356        79.86       649
80.01--85.00                        125      22,089,403      21.76      9.037       356        84.55       586
----------------------------------------------------------------------------------------------------------------
Total:                              519     101,528,933     100.00      8.489       356        77.27       621
----------------------------------------------------------------------------------------------------------------


Minimum: 27.78
Maximum: 85.00
Weighted Average: 77.27

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    111      17,218,359      16.96      8.319       352        72.21       623
<= 3.500                             21       4,437,579       4.37      7.420       358        74.85       661
3.501--4.000                         18       4,504,815       4.44      7.217       357        79.02       671
4.001--4.500                         36       9,094,630       8.96      7.637       358        77.15       646
4.501--5.000                         69      16,289,162      16.04      8.031       358        78.34       653
5.001--5.500                         67      15,161,378      14.93      8.591       358        78.61       619
5.501--6.000                         71      14,923,215      14.70      8.822       357        77.87       609
6.001--6.500                         47       7,896,359       7.78      9.174       357        80.01       580
6.501--7.000                         37       6,712,815       6.61      9.652       357        78.96       563
7.001--7.500                         25       3,128,593       3.08      9.940       357        78.58       567
7.501--8.000                         10       1,579,328       1.56     10.384       357        80.36       588
8.001--8.500                          3         257,324       0.25      9.520       353        82.71       561
8.501--9.000                          1          76,455       0.08     11.875       358        75.00       546
9.001--9.500                          2         192,947       0.19     11.366       356        83.34       537
9.501--10.000                         1          55,974       0.06     12.999       358        80.00       593
----------------------------------------------------------------------------------------------------------------
Total:                              519     101,528,933     100.00      8.489       356        77.27       621
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 5.384

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     111      17,218,359      16.96      8.319       352        72.21       623
5.501--6.000                           1         306,900       0.30      5.700       358        52.93       643
6.001--6.500                           1         220,000       0.22      6.300       358        41.90       711
6.501--7.000                          16       4,546,916       4.48      6.875       357        79.98       674
7.001--7.500                          25       6,592,152       6.49      7.355       357        78.44       674
7.501--8.000                          92      21,413,366      21.09      7.855       357        78.12       659
8.001--8.500                          51      10,903,637      10.74      8.334       357        78.05       622
8.501--9.000                          95      20,649,545      20.34      8.842       357        77.74       611
9.001--9.500                          46       7,255,314       7.15      9.368       357        79.92       567
9.501--10.000                         48       8,291,163       8.17      9.875       358        79.46       550
10.001 -10.500                        16       1,966,841       1.94     10.324       357        77.73       536
10.501--11.000                        13       1,853,618       1.83     10.934       357        80.89       563
11.001--11.500                         1         114,711       0.11     11.200       359        85.00       536
11.501--12.000                         1          76,455       0.08     11.875       358        75.00       546
12.001--12.500                         1          63,982       0.06     12.125       359        80.00       548
12.501--13.000                         1          55,974       0.06     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                               519     101,528,933     100.00      8.489       356        77.27       621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.524

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     111      17,218,359      16.96      8.319       352        72.21       623
12.501--13.000                         1         306,900       0.30      5.700       358        52.93       643
13.001--13.500                         2         312,000       0.31      6.580       358        53.13       694
13.501--14.000                        17       4,733,602       4.66      6.919       357        79.98       673
14.001--14.500                        24       6,500,152       6.40      7.356       357        78.42       675
14.501--15.000                        91      21,226,680      20.91      7.854       357        78.10       659
15.001--15.500                        51      10,903,637      10.74      8.334       357        78.05       622
15.501--16.000                        95      20,649,545      20.34      8.842       357        77.74       611
16.001--16.500                        46       7,255,314       7.15      9.368       357        79.92       567
16.501--17.000                        48       8,291,163       8.17      9.875       358        79.46       550
17.001--17.500                        16       1,966,841       1.94     10.324       357        77.73       536
17.501--18.000                        13       1,853,618       1.83     10.934       357        80.89       563
18.001--18.500                         1         114,711       0.11     11.200       359        85.00       536
18.501--19.000                         1          76,455       0.08     11.875       358        75.00       546
19.001--19.500                         1          63,982       0.06     12.125       359        80.00       548
19.501--20.000                         1          55,974       0.06     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                               519     101,528,933     100.00      8.489       356        77.27       621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.700
Maximum: 19.999
Non-Zero Weighted Average: 15.520

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date          Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      17,218,359      16.96      8.319       352        72.21       623
1.500                            406      84,031,888      82.77      8.526       357        78.30       620
6.000                              2         278,686       0.27      7.752       358        80.00       645
-------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27       621
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 1.515

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                 of         Date          Date      Gross     Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      17,218,359      16.96      8.319       352        72.21      623
1.500                            405      83,955,463      82.69      8.524       357        78.30      620
2.000                              3         355,111       0.35      8.451       358        80.00      614
-------------------------------------------------------------------------------------------------------------
Total:                           519     101,528,933     100.00      8.489       356        77.27      621
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 2.000
Non-Zero Weighted Average: 1.502

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    111      17,218,359      16.96      8.319       352        72.21      623
14                                    2         178,511       0.18      8.508       350        81.90      596
15                                    7       1,149,715       1.13      8.164       351        79.79      649
16                                    3         459,077       0.45      8.812       352        71.59      598
17                                    8       1,780,619       1.75      8.232       353        80.00      666
18                                    4         528,158       0.52      7.832       354        77.70      663
19                                   18       3,886,860       3.83      8.649       355        77.23      615
20                                   14       2,670,541       2.63      9.072       356        79.37      600
21                                   52      13,107,815      12.91      8.449       357        79.73      630
22                                  122      26,623,901      26.22      8.447       358        77.41      622
23                                   29       5,899,210       5.81      8.411       359        77.99      635
28                                    2         358,456       0.35      8.226       352        82.66      614
31                                    5         582,090       0.57      9.332       355        83.15      553
32                                    7       1,396,032       1.38      8.772       356        81.76      651
33                                   33       6,343,292       6.25      8.683       357        78.97      604
34                                   77      15,136,950      14.91      8.626       358        78.72      609
35                                   18       3,202,082       3.15      8.693       359        75.91      599
57                                    2         256,402       0.25      8.394       357        81.49      675
58                                    1         306,900       0.30      5.700       358        52.93      643
59                                    4         443,963       0.44      8.500       359        80.83      699
----------------------------------------------------------------------------------------------------------------
Total:                              519     101,528,933     100.00      8.489       356        77.27      621
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 59
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

New York                         74      20,478,181      20.17      7.832       357        74.28      658
California                       50      14,732,862      14.51      8.147       357        77.16      638
Illinois                         58      11,992,441      11.81      8.670       358        78.58      632
Florida                          51       8,338,773       8.21      8.501       357        74.77      596
Arizona                          28       5,912,186       5.82      9.003       358        76.24      587
New Jersey                       13       3,726,674       3.67      8.621       357        75.05      627
Massachusetts                    12       2,956,519       2.91      8.593       357        80.72      602
Washington                       14       2,753,582       2.71      8.460       358        80.48      589
Texas                            27       2,544,833       2.51      9.123       340        79.05      575
Pennsylvania                     18       2,492,323       2.45      8.920       357        80.59      589
Georgia                          18       2,416,033       2.38      9.223       351        79.00      580
Connecticut                      11       2,386,974       2.35      8.874       358        76.96      615
Colorado                         10       1,852,406       1.82      8.219       358        81.27      639
Nevada                            7       1,673,328       1.65      8.461       356        79.99      641
Oregon                           10       1,668,106       1.64      9.069       357        81.13      582
Other                           118      15,603,712      15.37      8.917       355        79.11      601
------------------------------------------------------------------------------------------------------------
Total:                          519     101,528,933     100.00      8.489       356        77.27      621
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 42

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Occupancy            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                         477      95,291,765      93.86      8.443       356        77.11       619
Investment                       40       5,915,738       5.83      9.221       356        79.56       653
Second Home                       2         321,430       0.32      8.524       357        82.08       618
------------------------------------------------------------------------------------------------------------
Total:                          519     101,528,933     100.00      8.489       356        77.27       621
------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Single Family Residence         385      70,144,018      69.09      8.553       356        77.75       613
2-4 Family                       59      15,861,259      15.62      8.125       357        75.43       667
Planned Unit Development         41      10,069,391       9.92      8.598       357        75.93       597
Condo                            34       5,454,265       5.37      8.523       358        79.03       633
------------------------------------------------------------------------------------------------------------
Total:                          519     101,528,933     100.00      8.489       356        77.27       621
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important  information and  qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted   Weighted    Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Loan Purpose         Loans    Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout         331      60,041,475      59.14      8.697       356        75.62        592
Purchase                   178      40,429,115      39.82      8.168       357        79.69        663
Refinance--Rate Term        10       1,058,344       1.04      8.946       351        78.87        640
-------------------------------------------------------------------------------------------------------
Total:                     519     101,528,933     100.00      8.489       356        77.27        621
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number       Cut-off     Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation       275      60,106,369      59.20      8.412       357        76.80       645
Full Documentation         220      36,169,929      35.63      8.587       356        77.99       587
Limited Documentation       24       5,252,635       5.17      8.690       357        77.73       577
-------------------------------------------------------------------------------------------------------
Total:                     519     101,528,933     100.00      8.489       356        77.27       621
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                   % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted   Weighted    Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Credit Score         Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-------------------------------------------------------------------------------------------------------

500--524                    81      13,249,400      13.05      9.547       356        76.68       510
525--549                    62       9,138,159       9.00      9.233       355        75.28       537
550--574                    40       7,464,895       7.35      8.958       357        74.29       564
575--599                    49       7,201,210       7.09      8.900       352        76.08       586
600--624                    62      12,198,168      12.01      8.499       358        77.91       613
625--649                    66      14,195,122      13.98      8.262       356        77.76       639
650--674                    63      14,199,285      13.99      8.105       357        78.34       662
675--699                    40       9,644,596       9.50      7.748       357        79.44       686
700--724                    31       7,455,425       7.34      7.846       357        77.51       711
725--749                    16       3,691,859       3.64      7.687       355        77.84       736
750--774                     7       2,239,801       2.21      7.473       357        77.20       758
775--799                     2         851,014       0.84      6.659       358        80.00       783
-------------------------------------------------------------------------------------------------------
Total:                     519     101,528,933     100.00      8.489       356        77.27       621
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 785
Non-Zero Weighted Average: 621

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--ACCREDITED                                                519 records
                                                           Balance: $101,528,933
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                     % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest     Term      Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            159      27,556,142      27.14      8.770       355        77.71        611
6                             14       3,081,907       3.04      8.336       357        76.80        652
12                            68      20,269,774      19.96      7.754       357        75.31        668
24                            56      12,224,471      12.04      8.500       357        77.33        616
30                             1         186,195       0.18      8.990       358        80.00        616
36                           161      30,201,601      29.75      8.640       358        78.59        608
48                             1         145,964       0.14      8.500       359        36.50        529
60                            59       7,862,880       7.74      8.849       353        76.52        580
---------------------------------------------------------------------------------------------------------
Total:                       519     101,528,933     100.00      8.489       356        77.27        621
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 29

LIEN POSITION



                                                    % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted   Weighted  Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average   Weighted
                             of          Date         Date       Gross    Remaining  Combined   Average
          Lien            Mortgage    Principal    Principal   Interest      Term    Original     FICO
        Position            Loans    Balance ($)    Balance    Rate (%)    (months)     LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     519     101,528,933     100.00      8.489       356        77.27       621
---------------------------------------------------------------------------------------------------------
Total:                       519     101,528,933     100.00      8.489       356        77.27       621
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                     % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted   Weighted    Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Interest Only Term       Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
---------------------------------------------------------------------------------------------------------

0                            470      88,446,141      87.11      8.622       356        77.01       613
60                            47      12,804,106      12.61      7.586       358        78.99       671
120                            2         278,686       0.27      7.752       358        80.00       645
---------------------------------------------------------------------------------------------------------
Total:                       519     101,528,933     100.00      8.489       356        77.27       621
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,845
Aggregate Principal Balance ($): 325,712,321
Weighted Average Current Mortgage Rate (%): 8.498
Non-Zero Weighted Average Margin (%): 7.095
Non-Zero Weighted Average Maximum Rate (%): 15.344
Weighted Average Stated Original Term (months): 351
Weighted Average Stated Remaining Term (months): 348
Weighted Average Combined Original LTV (%): 80.80
% First Liens: 95.07
% Owner Occupied: 95.23
% Purchase: 44.11
% Full Doc: 35.00
Non-Zero Weighted Average Credit Score: 626

ORIGINATOR



                                                                        % of
                                                                      Mortgage
                                                                      Pool by
                                                        Aggregate    Aggregate    Weighted    Weighted   Weighted
                                             Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                               of          Date         Date       Gross     Remaining   Combined   Average
                                            Mortgage    Principal    Principal    Interest      Term     Original     FICO
             Originator                       Loans    Balance ($)    Balance     Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------------------

First NLC                                     1,845    325,712,321     100.00       8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------------------------
Total:                                        1,845    325,712,321     100.00       8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                        % of
                                                                      Mortgage
                                                                      Pool by
                                                        Aggregate    Aggregate    Weighted    Weighted   Weighted
                                             Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                               of          Date         Date       Gross     Remaining   Combined   Average
                                            Mortgage    Principal    Principal    Interest      Term     Original     FICO
          Product with IO term                Loans    Balance ($)    Balance     Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                                    5        364,080       0.11       7.893       117        59.35       636
Fixed--15 Year                                   12        990,836       0.30       8.744       177        75.67       624
Fixed--20 Year                                   18      1,533,880       0.47       8.323       237        80.55       647
Fixed--30 Year                                  244     27,894,925       8.56       8.584       357        80.50       620
Balloon--15/30                                  216     13,422,687       4.12      11.477       177        99.52       655
Balloon--30/40                                   19      3,408,356       1.05       8.030       357        86.01       628
ARM--2 Year/6 Month Balloon 30/40               245     64,437,111      19.78       8.002       357        80.27       637
ARM--3 Year/6 Month Balloon 30/40               127     26,617,342       8.17       8.217       357        80.33       618
ARM--2 Year/6 Month                             340     60,704,370      18.64       8.647       357        79.84       610
ARM--3 Year/6 Month                             405     64,717,088      19.87       8.913       357        79.00       594
ARM--5 Year/6 Month                               2        200,845       0.06       8.342       358        67.54       575
Interest Only ARM--2 Year/6 Month--
   24 mo. IO term                                 1        210,400       0.06       8.250       358        80.00       628
Interest Only ARM--3 Year/6 Month--
   36 mo. IO term                                 2        411,500       0.13       8.195       357        75.77       611
Interest Only Fixed--30 Year--60 mo.
   IO term                                        4      1,115,685       0.34       6.980       357        76.32       678
Interest Only ARM--2 Year/6 Month--60 mo.
   IO term                                      157     46,040,061      14.14       7.934       357        80.27       663
Interest Only ARM--3 Year/6 Month--60 mo.
   IO term                                       47     13,050,655       4.01       7.901       357        81.40       667
Interest Only ARM--5 Year/6 Month--60 mo.
   IO term                                        1        592,500       0.18       6.500       358        79.00       699
----------------------------------------------------------------------------------------------------------------------------
Total:                                        1,845    325,712,321     100.00       8.498       348        80.80       626
----------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate    Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                       of          Date         Date       Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal    Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance     Rate (%)    (months)     LTV       Score
--------------------------------------------------------------------------------------------------------------------

6.000--6.999                             97     23,232,753       7.13       6.786       355        77.01       663
7.000--7.999                            467    109,492,145      33.62       7.596       356        78.68       649
8.000--8.999                            559    104,623,698      32.12       8.510       356        79.88       619
9.000--9.999                            356     57,602,758      17.69       9.514       353        81.82       588
10.000--10.999                          178     18,529,202       5.69      10.510       322        88.98       597
11.000--11.999                          121      8,788,186       2.70      11.558       222        96.64       627
12.000--12.999                           43      2,387,304       0.73      12.499       219        99.91       642
13.000--13.999                           22        947,943       0.29      13.348       222       100.00       632
14.000--14.999                            2        108,333       0.03      14.151       257       100.00       637
--------------------------------------------------------------------------------------------------------------------
Total:                                1,845    325,712,321     100.00       8.498       348        80.80       626
--------------------------------------------------------------------------------------------------------------------


Minimum: 6.150
Maximum: 14.240
Weighted Average: 8.498

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate    Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                       of          Date         Date       Gross     Remaining   Combined   Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal    Interest      Term     Original     FICO
          Balances ($)                Loans    Balance ($)     Balance    Rate (%)    (months)     LTV       Score
--------------------------------------------------------------------------------------------------------------------

1--25,000                                17        364,126       0.11      10.827       272        99.65       664
25,001--50,000                          126      4,936,002       1.52      11.371       240        97.77       648
50,001--75,000                          178     11,406,819       3.50      10.210       276        87.21       623
75,001--100,000                         228     20,078,168       6.16       9.256       322        83.68       615
100,001--125,000                        215     24,324,192       7.47       9.018       338        81.19       611
125,001--150,000                        163     22,541,122       6.92       8.687       354        79.76       611
150,001--175,000                        157     25,484,783       7.82       8.527       355        79.41       616
175,001--200,000                        155     29,058,894       8.92       8.427       357        78.83       622
200,001--225,000                        115     24,478,254       7.52       8.430       357        79.69       625
225,001--250,000                        103     24,455,797       7.51       8.212       356        79.69       618
250,001--275,000                         72     18,880,381       5.80       8.238       357        80.33       626
275,001--300,000                         67     19,288,419       5.92       8.177       357        79.52       625
300,001--325,000                         48     14,993,031       4.60       8.060       357        79.59       634
325,001--350,000                         37     12,442,600       3.82       8.087       357        79.99       633
350,001--375,000                         32     11,522,319       3.54       8.204       357        80.54       641
375,001--400,000                         28     10,906,838       3.35       8.171       357        81.00       636
400,001--425,000                         24      9,949,653       3.05       8.054       357        79.94       640
425,001--450,000                         16      7,008,441       2.15       7.891       358        80.24       647
450,001--475,000                         13      5,992,244       1.84       7.877       357        80.37       638
475,001--500,000                         23     11,310,775       3.47       7.987       357        78.97       659
500,001--750,000                         28     16,289,465       5.00       7.968       357        83.02       641
--------------------------------------------------------------------------------------------------------------------
Total:                                1,845    325,712,321     100.00       8.498       348        80.80       626
--------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 716,517
Average: 176,538

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

120                                     5        364,080       0.11      7.893       117        59.35      636
180                                   228     14,413,523       4.43     11.289       177        97.88      653
240                                    18      1,533,880       0.47      8.323       237        80.55      647
360                                 1,594    309,400,839      94.99      8.370       357        80.03      625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,845    325,712,321     100.00      8.498       348        80.80      626
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 351

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

109--120                                5        364,080       0.11      7.893       117        59.35      636
169--180                              228     14,413,523       4.43     11.289       177        97.88      653
229--240                               18      1,533,880       0.47      8.323       237        80.55      647
349--360                            1,594    309,400,839      94.99      8.370       357        80.03      625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,845    325,712,321     100.00      8.498       348        80.80      626
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 358
Weighted Average: 348

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                    of          Date         Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------

25.01--30.00                           2        199,122       0.06      7.684       246        26.51      629
30.01--35.00                           3        440,123       0.14      7.908       357        32.76      645
35.01--40.00                           5        798,558       0.25      8.469       358        38.90      598
40.01--45.00                          13      1,801,836       0.55      7.839       347        42.72      598
45.01--50.00                          19      3,092,175       0.95      7.929       357        47.76      623
50.01--55.00                          14      1,979,662       0.61      9.007       358        52.46      541
55.01--60.00                          22      3,367,891       1.03      8.049       343        58.54      598
60.01--65.00                          44      7,525,235       2.31      8.649       353        63.15      565
65.01--70.00                          73     12,468,942       3.83      8.352       355        68.73      585
70.01--75.00                         132     25,013,613       7.68      8.408       353        74.05      581
75.01--80.00                         778    169,219,178      51.95      8.063       357        79.78      644
80.01--85.00                         161     30,205,114       9.27      8.709       356        84.40      607
85.01--90.00                         210     37,107,298      11.39      8.942       356        89.43      613
90.01--95.00                          58     10,177,733       3.12      9.243       352        94.34      633
95.01--100.00                        311     22,315,842       6.85     10.743       250        99.82      648
----------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------------


Minimum: 25.42
Maximum: 100.00
Weighted Average: 80.80

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate    Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average     Average    Average    Weighted
                                    of          Date         Date       Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal    Interest      Term     Original     FICO
  Range of Gross Margins (%)       Loans    Balance ($)    Balance     Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     518     48,730,449      14.96      9.296        298       85.77       633
4.501--5.000                           3        545,096       0.17      8.698        357       78.02       564
5.001--5.500                          30      5,152,625       1.58      9.152        357       83.51       609
5.501--6.000                         111     22,519,272       6.91      8.289        357       80.54       625
6.001--6.500                         136     31,197,209       9.58      7.487        357       79.37       646
6.501--7.000                         220     48,273,553      14.82      7.738        357       79.11       647
7.001--7.500                         716    138,027,813      42.38      8.609        357       79.81       617
7.501--8.000                          69     18,888,746       5.80      8.815        357       80.55       618
8.001--8.500                          35     10,703,296       3.29      9.256        357       81.00       589
8.501--9.000                           5      1,258,674       0.39      9.310        357       92.38       647
9.001--9.500                           2        415,588       0.13      9.370        358       80.00       639
-----------------------------------------------------------------------------------------------------------------
Total:                             1,845    325,712,321     100.00      8.498        348       80.80       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.950
Maximum: 9.240
Non-Zero Weighted Average: 7.095

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (%)                     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      518     48,730,449      14.96      9.296       298        85.77       633
6.001--6.500                           11      3,268,809       1.00      6.388       357        77.77       670
6.501--7.000                           68     16,729,356       5.14      6.889       357        77.74       658
7.001--7.500                          146     36,687,593      11.26      7.319       357        78.54       657
7.501--8.000                          264     63,656,424      19.54      7.804       357        78.98       643
8.001--8.500                          207     45,903,556      14.09      8.261       357        79.85       635
8.501--9.000                          244     45,411,504      13.94      8.777       357        79.94       606
9.001--9.500                          142     27,553,133       8.46      9.286       357        81.57       604
9.501--10.000                         140     23,377,880       7.18      9.777       357        81.04       570
10.001 -10.500                         60      8,175,312       2.51     10.272       357        85.08       570
10.501--11.000                         36      4,959,699       1.52     10.743       357        87.55       571
11.001--11.500                          7      1,028,561       0.32     11.127       356        81.09       546
11.501--12.000                          1        157,803       0.05     11.690       357        90.00       559
12.001--12.500                          1         72,243       0.02     12.440       357        99.95       630
-----------------------------------------------------------------------------------------------------------------
Total:                              1,845    325,712,321     100.00      8.498       348        80.80       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.150
Maximum: 12.440
Non-Zero Weighted Average: 8.357

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (%)                     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      518     48,730,449      14.96      9.296       298        85.77       633
13.001--13.500                         11      3,268,809       1.00      6.388       357        77.77       670
13.501--14.000                         72     17,466,652       5.36      6.931       357        77.51       657
14.001--14.500                        148     37,322,755      11.46      7.328       357        78.30       656
14.501--15.000                        264     63,420,597      19.47      7.811       357        79.05       643
15.001--15.500                        207     45,521,192      13.98      8.277       357        80.12       635
15.501--16.000                        248     45,855,166      14.08      8.791       357        79.95       606
16.001--16.500                        142     27,279,395       8.38      9.297       357        81.59       605
16.501--17.000                        135     22,880,753       7.02      9.778       357        81.00       569
17.001--17.500                         57      8,121,074       2.49     10.303       357        84.51       568
17.501--18.000                         35      4,898,195       1.50     10.744       357        87.65       571
18.001--18.500                          6        717,237       0.22     11.161       357        88.37       551
18.501--19.000                          1        157,803       0.05     11.690       357        90.00       559
19.001--19.500                          1         72,243       0.02     12.440       357        99.95       630
-----------------------------------------------------------------------------------------------------------------
Total:                              1,845    325,712,321     100.00      8.498       348        80.80       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13.150
Maximum: 19.440
Non-Zero Weighted Average: 15.344

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                 of          Date         Date      Gross     Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Initial Periodic Cap (%)       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  518     48,730,449      14.96      9.296       298        85.77      633
2.000                               1        113,736       0.03      9.050       356        61.62      613
3.000                           1,326    276,868,136      85.00      8.358       357        79.93      625
-------------------------------------------------------------------------------------------------------------
Total:                          1,845    325,712,321     100.00      8.498       348        80.80      626
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.000
Maximum: 3.000
Non-Zero Weighted Average: 3.000

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                 of          Date         Date      Gross     Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  518     48,730,449      14.96      9.296       298        85.77      633
1.000                              29      4,877,744       1.50      8.767       356        75.67      596
1.500                           1,298    272,104,128      83.54      8.351       357        80.00      625
-------------------------------------------------------------------------------------------------------------
Total:                          1,845    325,712,321     100.00      8.498       348        80.80      626
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.491

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                          of          Date         Date      Gross     Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Months to Next Rate Adjustment        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                           518     48,730,449      14.96      9.296       298        85.77      633
14                                           1        148,920       0.05     10.050       350        80.00      511
16                                           5        925,256       0.28      7.844       352        87.29      619
17                                           5      1,497,724       0.46      8.456       353        83.77      618
18                                          14      2,874,675       0.88      8.638       354        78.87      605
19                                          22      4,888,640       1.50      8.476       355        80.06      634
20                                          83     21,416,776       6.58      8.258       356        80.73      638
21                                         295     67,975,585      20.87      8.200       357        80.38      633
22                                         318     71,664,365      22.00      8.171       358        79.58      636
28                                           1         91,129       0.03      9.250       352        80.00      628
29                                           1         67,233       0.02      8.940       353        90.00      657
30                                           5        812,294       0.25      8.626       354        83.05      582
31                                          10      1,981,568       0.61      9.019       355        77.75      595
32                                          56     10,371,808       3.18      8.627       356        77.50      607
33                                         241     43,100,349      13.23      8.610       357        80.35      603
34                                         267     48,372,203      14.85      8.582       358        79.44      616
58                                           3        793,345       0.24      6.966       358        76.10      668
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 26

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                          of          Date         Date      Gross     Remaining   Combined   Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                  Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                 368     98,791,299      30.33      8.226       344        80.63      643
Florida                                    332     57,140,002      17.54      8.535       351        79.43      625
Illinois                                   196     32,923,143      10.11      8.774       348        82.19      618
Texas                                      168     16,473,609       5.06      8.566       337        82.03      619
Arizona                                     95     15,671,055       4.81      8.226       351        80.89      630
Maryland                                    57     12,020,802       3.69      8.220       354        77.49      617
Virginia                                    50      8,439,258       2.59      8.974       349        76.99      608
Massachusetts                               35      7,309,298       2.24      8.856       352        83.44      620
Michigan                                    72      7,296,765       2.24      9.384       355        82.39      594
Washington                                  39      7,225,137       2.22      8.121       357        80.22      604
Pennsylvania                                57      6,381,489       1.96      9.020       355        82.29      601
Nevada                                      30      5,862,411       1.80      8.258       346        82.55      644
Rhode Island                                26      5,592,589       1.72      8.606       355        77.71      636
Georgia                                     39      4,875,796       1.50      9.005       357        82.75      626
New Jersey                                  22      4,777,016       1.47      9.033       357        78.16      602
Other                                      259     34,932,653      10.73      8.624       352        82.86      613
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 36

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

OCCUPANCY



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Occupancy            Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Primary                      1,743    310,177,030      95.23      8.487       348        80.69      624
Investment                     100     15,233,867       4.68      8.722       356        82.87      659
Second Home                      2        301,424       0.09      9.068       358        89.42      666
----------------------------------------------------------------------------------------------------------
Total:                       1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      1,623    283,024,032      86.89      8.483       349        80.79      623
2-4 Family                     115     25,770,716       7.91      8.625       345        80.55      651
Condo                           97     15,310,051       4.70      8.621       344        81.95      643
Planned Unit Development        10      1,607,522       0.49      8.091       347        74.99      644
----------------------------------------------------------------------------------------------------------
Total:                       1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose           Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Refinance--Cashout             861    163,039,232      50.06      8.464       354        78.75      603
Purchase                       862    143,685,126      44.11      8.559       341        83.05      654
Refinance--Rate Term           122     18,987,963       5.83      8.332       351        81.33      608
----------------------------------------------------------------------------------------------------------
Total:                       1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Documentation Level        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Stated Documentation         1,049    194,581,094      59.74      8.591       346        80.65      639
Full Documentation             717    114,012,987      35.00      8.397       352        80.84      603
Limited Documentation           79     17,118,240       5.26      8.124       351        82.12      629
----------------------------------------------------------------------------------------------------------
Total:                       1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                             of          Date         Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------

500--524                       70     11,515,213       3.54      9.627       356        73.04      511
525--549                      127     21,039,390       6.46      9.430       357        74.47      537
550--574                      172     27,440,601       8.42      8.953       357        78.42      563
575--599                      207     38,260,638      11.75      8.717       355        82.04      587
600--624                      292     51,605,925      15.84      8.501       347        81.53      613
625--649                      414     67,042,585      20.58      8.444       344        81.80      637
650--674                      273     52,284,425      16.05      8.169       344        82.05      661
675--699                      154     29,036,506       8.91      7.909       344        81.58      685
700--724                       57     12,598,333       3.87      7.844       345        83.06      708
725--749                       43      7,258,920       2.23      8.010       348        83.25      735
750--774                       26      5,778,820       1.77      7.898       348        80.14      761
775--799                        8      1,526,126       0.47      8.303       343        82.93      784
800 +                           2        324,840       0.10      8.440       357        84.00      802
---------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321     100.00      8.498       348        80.80      626
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 802
Non-Zero Weighted Average: 626

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                             of          Date         Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------

0                             577     86,816,955      26.65      8.755       348        81.68      619
12                             55     14,384,491       4.42      8.693       356        79.85      638
24                            587    129,737,470      39.83      8.161       354        80.01      633
30                              6      1,220,752       0.37      9.523       357        82.72      608
36                            620     93,552,654      28.72      8.684       339        81.19      621
---------------------------------------------------------------------------------------------------------
Total:                      1,845    325,712,321     100.00      8.498       348        80.80      626
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 28

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--FIRST NLC                                               1,845 records
                                                           Balance: $325,712,321
--------------------------------------------------------------------------------

LIEN POSITION



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                        of          Date         Date      Gross     Remaining   Combined   Average
       Lien          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Position          Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------

1st Lien               1,568    309,643,203      95.07      8.343       356        79.81      625
2nd Lien                 277     16,069,118       4.93     11.489       206        99.82      655
----------------------------------------------------------------------------------------------------
Total:                 1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                        of          Date         Date      Gross     Remaining   Combined   Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------

0                      1,633    264,291,520      81.14      8.638       346        80.89      617
24                         1        210,400       0.06      8.250       358        80.00      628
36                         2        411,500       0.13      8.195       357        75.77      611
60                       209     60,798,901      18.67      7.895       357        80.43      664
----------------------------------------------------------------------------------------------------
Total:                 1,845    325,712,321     100.00      8.498       348        80.80      626
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 212
Aggregate Principal Balance ($): 49,777,061
Weighted Average Current Mortgage Rate (%): 8.506
Non-Zero Weighted Average Margin (%): 5.485
Non-Zero Weighted Average Maximum Rate (%): 15.136
Weighted Average Stated Original Term (months): 340
Weighted Average Stated Remaining Term (months): 335
Weighted Average Combined Original LTV (%): 83.97
%First Liens: 88.63
%Owner Occupied: 97.46
%Purchase: 59.60
%Full Doc: 43.18
Non-Zero Weighted Average Credit Score: 638

ORIGINATOR



                                                                                % of
                                                                              Mortgage
                                                                               Pool by
                                                                Aggregate     Aggregate   Weighted    Weighted   Weighted
                                                     Number      Cut-off       Cut-off     Average    Average     Average   Weighted
                                                       of         Date          Date        Gross    Remaining   Combined    Average
                                                    Mortgage    Principal     Principal   Interest      Term     Original     FICO
                  Originator                          Loans    Balance ($)     Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------------------------

Master Financial                                       212      49,777,061     100.00       8.506       335        83.97       638
------------------------------------------------------------------------------------------------------------------------------------
Total:                                                 212      49,777,061     100.00       8.506       335        83.97       638
------------------------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                                % of
                                                                              Mortgage
                                                                               Pool by
                                                                Aggregate     Aggregate   Weighted    Weighted   Weighted
                                                     Number      Cut-off       Cut-off     Average    Average     Average   Weighted
                                                       of         Date          Date        Gross    Remaining   Combined    Average
                                                    Mortgage    Principal     Principal   Interest      Term     Original     FICO
              Product with IO term                    Loans    Balance ($)     Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------------------------

Fixed--30 Year                                           2         556,296       1.12       7.511       353        87.66       627
Balloon--15/30                                          68       5,659,759      11.37      11.527       175        99.81       655
Balloon--30/40                                           2         958,480       1.93       8.271       355        70.21       635
ARM--2 Year/6 Month Balloon 30/40                       51      16,538,211      33.22       8.213       355        81.29       619
ARM--3 Year/6 Month Balloon 30/40                        1         988,299       1.99       6.600       356        90.00       695
ARM--2 Year/6 Month                                     55      13,003,444      26.12       8.488       355        81.76       627
ARM--5 Year/6 Month                                      1         163,942       0.33       6.950       354        55.00       686
Interest Only Fixed--30 Year--60 mo. IO term             1         508,000       1.02       7.000       357        80.00       652
Interest Only ARM--2 Year/6 Month--60 mo. IO term       31      11,400,630      22.90       7.773       355        83.55       664
------------------------------------------------------------------------------------------------------------------------------------
Total:                                                 212      49,777,061     100.00       8.506       335        83.97       638
------------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                                % of
                                                                              Mortgage
                                                                               Pool by
                                                                Aggregate     Aggregate   Weighted    Weighted   Weighted
                                                     Number      Cut-off       Cut-off     Average    Average     Average   Weighted
                                                       of         Date          Date        Gross    Remaining   Combined    Average
                                                    Mortgage    Principal     Principal   Interest      Term     Original     FICO
       Range of Gross Interest Rates (%)              Loans    Balance ($)     Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------------------------

6.000--6.999                                             8       2,964,002       5.95       6.733       355        80.21       667
7.000--7.999                                            66      21,587,248      43.37       7.520       355        81.08       647
8.000--8.999                                            37      11,197,862      22.50       8.520       355        82.27       631
9.000--9.999                                            29       7,612,662      15.29       9.498       348        84.89       602
10.000--10.999                                          21       2,189,172       4.40      10.352       250        93.60       664
11.000--11.999                                          30       2,605,456       5.23      11.659       186        98.84       652
12.000--12.999                                          16       1,339,134       2.69      12.356       175        99.77       621
13.000--13.999                                           5         281,526       0.57      13.458       174       100.00       631
------------------------------------------------------------------------------------------------------------------------------------
Total:                                                 212      49,777,061     100.00       8.506       335        83.97       638
------------------------------------------------------------------------------------------------------------------------------------


Minimum: 6.500
Maximum: 13.850
Weighted Average: 8.506

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                                % of
                                                                              Mortgage
                                                                               Pool by
                                                                Aggregate     Aggregate   Weighted    Weighted   Weighted
                                                     Number      Cut-off       Cut-off     Average    Average     Average   Weighted
                                                       of         Date          Date        Gross    Remaining   Combined    Average
                                                    Mortgage    Principal     Principal   Interest      Term     Original     FICO
   Range of Cut-off Date Principal Balances ($)       Loans    Balance ($)     Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------------------------

1--25,000                                                2          42,901       0.09      12.219       175       100.00       643
25,001--50,000                                          11         420,577       0.84      11.739       175       100.00       662
50,001--75,000                                          25       1,614,395       3.24      11.266       204        95.95       659
75,001--100,000                                         14       1,209,467       2.43      11.121       228        97.90       645
100,001--125,000                                        19       2,121,145       4.26      10.868       223        93.46       631
125,001--150,000                                        20       2,803,888       5.63       9.470       302        88.93       633
150,001--175,000                                        12       1,941,972       3.90       9.096       296        76.73       612
175,001--200,000                                        10       1,857,169       3.73       7.944       354        78.25       632
200,001--225,000                                         9       1,954,410       3.93       7.840       354        84.05       629
225,001--250,000                                         8       1,882,098       3.78       8.115       356        84.31       666
250,001--275,000                                        11       2,872,898       5.77       8.191       355        80.48       611
275,001--300,000                                         7       2,038,017       4.09       8.217       356        77.90       613
300,001--325,000                                         8       2,507,523       5.04       8.190       356        83.55       626
325,001--350,000                                         8       2,730,599       5.49       8.404       355        86.79       638
350,001--375,000                                         4       1,448,300       2.91       7.509       356        73.89       655
375,001--400,000                                         6       2,310,735       4.64       8.617       356        76.77       659
400,001--425,000                                         3       1,237,651       2.49       8.329       354        86.65       649
425,001--450,000                                         5       2,199,747       4.42       8.141       354        84.35       600
450,001--475,000                                         4       1,839,414       3.70       8.066       356        81.16       670
475,001--500,000                                         6       2,925,775       5.88       7.923       354        80.60       637
500,001--750,000                                        19      10,830,083      21.76       7.974       355        83.80       642
750,001--1,000,000                                       1         988,299       1.99       6.600       356        90.00       695
------------------------------------------------------------------------------------------------------------------------------------
Total:                                                 212      49,777,061     100.00       8.506       335        83.97       638
------------------------------------------------------------------------------------------------------------------------------------


Minimum: 17,918
Maximum: 988,299
Average: 234,797

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

180                                     68       5,659,759      11.37     11.527       175        99.81      655
360                                    144      44,117,303      88.63      8.118       355        81.94      636
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335        83.97      638
-------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 340

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Stated Remaining Terms    Mortgage    Principal    Principal   Interest      Term     Original     FICO
             (months)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

169--180                                68       5,659,759      11.37     11.527       175        99.81       655
349--360                               144      44,117,303      88.63      8.118       355        81.94       636
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335        83.97       638
-------------------------------------------------------------------------------------------------------------------


Minimum: 171
Maximum: 357
Weighted Average: 335

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Combined Original LTV     Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

25.01--30.00                             1         114,655       0.23      7.500       356        26.74      608
45.01--50.00                             1         168,607       0.34      8.750       356        47.61      629
50.01--55.00                             4         694,990       1.40      7.578       355        53.62      601
55.01--60.00                             3         825,310       1.66      7.378       355        55.80      645
60.01--65.00                             4       1,053,690       2.12      8.447       356        64.33      554
65.01--70.00                             4       1,034,236       2.08      9.472       356        69.97      524
70.01--75.00                             3       1,352,024       2.72      8.551       353        73.08      575
75.01--80.00                            68      21,606,252      43.41      7.940       355        79.93      651
80.01--85.00                            18       5,248,132      10.54      8.314       355        84.97      602
85.01--90.00                            21       7,335,873      14.74      7.743       353        89.31      635
90.01--95.00                            11       3,140,003       6.31      9.065       351        94.88      654
95.01--100.00                           74       7,203,289      14.47     10.964       217       100.00      665
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335        83.97      638
-------------------------------------------------------------------------------------------------------------------


Minimum: 26.74
Maximum: 100.00
Weighted Average: 83.97

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Range of Gross Margins (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        73       7,682,535      15.43     10.531       222        93.92      650
4.501--5.000                            38      12,155,415      24.42      8.002       356        81.69      655
5.001--5.500                            61      19,520,111      39.22      7.890       355        82.52      648
5.501--6.000                            20       5,745,266      11.54      8.516       354        84.29      601
6.001--6.500                             7       1,739,282       3.49      9.159       355        85.98      556
6.501--7.000                             6       1,563,403       3.14      9.447       356        84.41      623
7.001--7.500                             4         810,889       1.63      8.655       355        67.71      549
7.501--8.000                             1          74,738       0.15      9.550       353        56.82      565
8.001--8.500                             2         485,423       0.98      7.939       356        60.65      514
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335        83.97      638
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.000
Maximum: 8.500
Non-Zero Weighted Average: 5.485

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Minimum Mortgage Rates    Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                   Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        73       7,682,535      15.43     10.531       222         93.92     650
6.001--6.500                             1         345,577       0.69      6.500       354         84.51     636
6.501--7.000                            11       4,137,994       8.31      6.865       355         81.79     648
7.001--7.500                            26       8,009,097      16.09      7.338       355         80.73     658
7.501--8.000                            33      10,664,271      21.42      7.785       355         81.39     644
8.001--8.500                            19       6,103,094      12.26      8.291       355         81.51     618
8.501--9.000                            19       5,573,470      11.20      8.812       356         82.91     643
9.001--9.500                             7       2,329,568       4.68      9.237       355         87.12     613
9.501--10.000                           17       4,272,754       8.58      9.768       356         83.31     596
10.001 -10.500                           2         230,608       0.46     10.259       356        100.00     671
10.501--11.000                           3         279,704       0.56     10.831       355         77.87     539
11.001--11.500                           1         148,388       0.30     11.250       353         85.00     535
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335         83.97     638
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.500
Maximum: 11.250
Non-Zero Weighted Average: 8.136

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                               % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Maximum Mortgage Rates    Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                   Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        73       7,682,535      15.43     10.531       222         93.92     650
13.001--13.500                           1         345,577       0.69      6.500       354         84.51     636
13.501--14.000                          11       4,137,994       8.31      6.865       355         81.79     648
14.001--14.500                          26       8,009,097      16.09      7.338       355         80.73     658
14.501--15.000                          33      10,664,271      21.42      7.785       355         81.39     644
15.001--15.500                          19       6,103,094      12.26      8.291       355         81.51     618
15.501--16.000                          19       5,573,470      11.20      8.812       356         82.91     643
16.001--16.500                           7       2,329,568       4.68      9.237       355         87.12     613
16.501--17.000                          17       4,272,754       8.58      9.768       356         83.31     596
17.001--17.500                           2         230,608       0.46     10.259       356        100.00     671
17.501--18.000                           3         279,704       0.56     10.831       355         77.87     539
18.001--18.500                           1         148,388       0.30     11.250       353         85.00     535
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335         83.97     638
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13.500
Maximum: 18.250
Non-Zero Weighted Average: 15.136

INITIAL PERIODIC CAP (%)



                                                              % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Initial Periodic Cap (%)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        73       7,682,535      15.43     10.531       222         93.92     650
2.000                                    1         144,400       0.29      7.950       354        100.00     753
3.000                                  138      41,950,126      84.28      8.137       355         82.09     635
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      49,777,061     100.00      8.506       335         83.97     638
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.000
Maximum: 3.000
Non-Zero Weighted Average: 2.997

SUBSEQUENT PERIODIC CAP (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Subsequent Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        73      7,682,535       15.43     10.531       222        93.92      650
1.000                                  138      1,930,585       84.24      8.141       355        82.26      635
1.500                                    1        163,942        0.33      6.950       354        55.00      686
-------------------------------------------------------------------------------------------------------------------
Total:                                 212      9,777,061      100.00      8.506       335        83.97      638
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.002

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     73       7,682,535      15.43     10.531       222        93.92       650
13                                    1         148,392       0.30      7.715       349        80.00       688
14                                    1         168,204       0.34      7.115       350        80.00       587
15                                    5       1,148,601       2.31      7.914       351        76.27       632
16                                    6       1,184,643       2.38      7.286       352        77.78       637
17                                   17       5,536,778      11.12      7.992       353        84.07       636
18                                   18       5,487,569      11.02      8.183       354        82.67       621
19                                   25       8,364,889      16.80      8.218       355        85.74       657
20                                   41      12,467,924      25.05      8.123       356        79.09       620
21                                   23       6,435,285      12.93      8.637       357        82.77       640
32                                    1         988,299       1.99      6.600       356        90.00       695
54                                    1         163,942       0.33      6.950       354        55.00       686
----------------------------------------------------------------------------------------------------------------
Total:                              212      49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13
Maximum: 54
Non-Zero Weighted Average: 19

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

California                          109      31,405,215      63.09      8.342       333        83.77       638
Florida                              76      13,164,656      26.45      8.807       332        84.41       645
Nevada                                9       2,222,191       4.46      8.305       347        84.60       644
Arizona                               3         629,315       1.26     10.718       323        75.67       554
Hawaii                                1         518,319       1.04      8.250       355        80.00       627
Colorado                              4         445,851       0.90      8.092       335        85.12       694
Michigan                              4         416,207       0.84      9.289       356        94.03       579
Washington                            1         337,891       0.68      7.895       355        90.00       628
Missouri                              2         209,527       0.42     10.455       354        86.46       561
Maryland                              1         188,693       0.38      9.750       356        95.00       593
Connecticut                           1         178,159       0.36      7.000       356        65.00       628
Illinois                              1          61,038       0.12      9.225       355        90.00       606
----------------------------------------------------------------------------------------------------------------
Total:                              212      49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 12

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

OCCUPANCY



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Occupancy             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Primary                       207      48,514,056      97.46      8.493       334        83.79       636
Second Home                     3         948,061       1.90      9.359       357        95.00       704
Investment                      2         314,945       0.63      7.872       356        78.31       695
----------------------------------------------------------------------------------------------------------
Total:                        212      49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Property Type          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      154       38,088,481      76.52      8.526       335        83.92       634
Planned Unit Development      22        5,255,326      10.56      8.497       332        85.28       645
Condo                         26        4,652,014       9.35      8.109       338        84.31       666
2-4 Family                    10        1,781,240       3.58      9.130       322        80.31       634
----------------------------------------------------------------------------------------------------------
Total:                       212       49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Purchase                      143      29,667,783      59.60      8.718       324        85.90       657
Refinance--Cashout             66      19,360,495      38.89      8.206       351        80.71       610
Refinance--Rate Term            3         748,783       1.50      7.828       335        91.38       621
----------------------------------------------------------------------------------------------------------
Total:                        212      49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Stated Documentation          116      25,919,562      52.07      8.868       333        84.74       644
Full Documentation             86      21,496,073      43.18      8.052       337        82.84       633
Limited Documentation          10       2,361,427       4.74      8.659       334        85.71       622
----------------------------------------------------------------------------------------------------------
Total:                        212      49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

500--524                       8       2,055,411       4.13      9.145       355        72.37       510
525--549                       5       1,306,863       2.63      9.442       356        70.93       531
550--574                      12       1,929,482       3.88      9.410       345        84.66       561
575--599                      15       3,713,907       7.46      8.522       344        83.67       589
600--624                      40       9,995,418      20.08      8.483       333        84.32       613
625--649                      48      11,422,255      22.95      8.234       336        84.43       634
650--674                      27       6,445,877      12.95      8.403       332        83.31       661
675--699                      23       5,570,044      11.19      8.150       323        85.16       686
700--724                      25       5,319,171      10.69      8.895       327        88.38       712
725--749                       5         812,607       1.63      8.065       327        84.67       731
750--774                       4       1,206,026       2.42      8.432       339        88.43       757
---------------------------------------------------------------------------------------------------------
Total:                       212      49,777,061     100.00      8.506       335        83.97       638
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 760
Non-Zero Weighted Average: 638

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             18       3,603,705       7.24      9.088       342        82.66       642
12                            14       4,684,731       9.41      8.650       342        82.05       651
24                           151      38,190,719      76.72      8.347       340        84.29       634
36                            29       3,297,906       6.63      9.496       253        84.36       662
---------------------------------------------------------------------------------------------------------
Total:                       212      49,777,061     100.00      8.506       335        83.97       638
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 24

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     144      44,117,303      88.63      8.118       355        81.94       636
2nd Lien                      68       5,659,759      11.37     11.527       175        99.81       655
---------------------------------------------------------------------------------------------------------
Total:                       212      49,777,061     100.00      8.506       335        83.97       638
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--MASTER FINANCIAL                                          212 records
                                                            Balance: $49,777,061
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted   Weighted    Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of         Date          Date       Gross    Remaining   Combined   Average
                     Mortgage    Principal    Principal   Interest      Term     Original      FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

0                       180      37,868,431      76.08      8.746       328        84.15       630
60                       32      11,908,630      23.92      7.740       355        83.40       663
----------------------------------------------------------------------------------------------------
Total:                  212      49,777,061     100.00      8.506       335        83.97       638
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
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"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
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--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                            ASSET-BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
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there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
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not a research report and was not prepared by the Morgan Stanley research
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independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
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Alternatively, the depositor or any underwriter or any dealer participating in
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 588
Aggregate Principal Balance ($): 137,056,286
Weighted Average Current Mortgage Rate (%): 8.259
Non-Zero Weighted Average Margin (%): 6.208
Non-Zero Weighted Average Maximum Rate (%): 15.248
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 358
Weighted Average Combined Original LTV (%): 80.03
% First Liens: 99.53
% Owner Occupied: 87.24
% Purchase: 48.13
% Full Doc: 50.74
Non-Zero Weighted Average Credit Score: 631

ORIGINATOR



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Originator                              Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

New Century                              588     137,056,286     100.00      8.259       358       80.03        631
---------------------------------------------------------------------------------------------------------------------
Total:                                   588     137,056,286     100.00      8.259       358       80.03        631
---------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Product with IO term                    Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                             1          20,684      0.02       9.800       174       100.00       684
Fixed--30 Year                            18       1,886,625      1.38       8.827       355        77.80       636
Balloon--30/40                             3         789,588      0.58       7.432       355        81.14       703
ARM--2 Year/6 Month Balloon 30/40        237      63,852,102     46.59       8.377       358        79.59       622
ARM--3 Year/6 Month Balloon 30/40         19       3,365,738      2.46       8.869       358        79.60       621
ARM--2 Year/6 Month                      196      33,866,940     24.71       8.619       358        79.70       629
ARM--3 Year/6 Month                        7       1,696,459      1.24       8.028       357        79.05       614
Interest Only ARM--2 Year/6 Month--
24 mo. IO term                             1         221,000      0.16       6.250       358        78.93       585
Interest Only ARM--3 Year/6 Month--
36 mo. IO term                             1         228,000      0.17       7.475       358        80.00       666
Interest Only ARM--2 Year/6 Month--
60 mo. IO term                            94      28,454,261     20.76       7.568       358        81.73       652
Interest Only ARM--3 Year/6 Month--
60 mo. IO term                            11       2,674,888      1.95       7.659       358        78.94       650
---------------------------------------------------------------------------------------------------------------------
Total:                                   588     137,056,286    100.00       8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Gross Interest Rates (%)       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                               1         266,038       0.19      5.925       358        80.00       707
6.000--6.999                              54      14,200,426      10.36      6.621       357        76.02       646
7.000--7.999                             195      52,426,152      38.25      7.612       358        79.76       644
8.000--8.999                             171      38,757,484      28.28      8.496       358        81.06       626
9.000--9.999                             103      22,776,662      16.62      9.488       358        81.63       621
10.000--10.999                            48       6,782,315       4.95     10.422       358        80.57       580
11.000--11.999                            14       1,599,616       1.17     11.298       357        71.04       551
12.000--12.999                             2         247,594       0.18     12.326       354       100.00       639
---------------------------------------------------------------------------------------------------------------------
Total:                                   588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 12.400
Weighted Average: 8.259

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal       Mortgage    Principal    Principal   Interest     Term      Original     FICO
Balances ($)                            Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

1--25,000                                  2          43,128       0.03     10.346       268       100.00       663
25,001--50,000                             4         149,023       0.11     10.936       354        93.30       596
50,001--75,000                            42       2,590,185       1.89      9.360       357        79.66       610
75,001--100,000                           44       3,867,857       2.82      8.721       358        77.00       613
100,001--125,000                          65       7,375,179       5.38      8.699       358        76.12       617
125,001--150,000                          52       7,134,606       5.21      8.797       358        75.33       602
150,001--175,000                          45       7,207,102       5.26      8.741       357        77.80       611
175,001--200,000                          48       9,065,515       6.61      8.523       358        79.40       619
200,001--225,000                          42       9,017,457       6.58      7.991       358        79.61       638
225,001--250,000                          30       7,119,530       5.19      7.990       358        80.53       640
250,001--275,000                          38      10,054,674       7.34      7.988       358        80.08       626
275,001--300,000                          34       9,729,258       7.10      8.107       358        81.60       637
300,001--325,000                          20       6,299,668       4.60      7.892       357        78.47       628
325,001--350,000                          17       5,709,161       4.17      8.834       358        80.88       622
350,001--375,000                          14       5,009,991       3.66      7.819       358        81.36       676
375,001--400,000                          21       8,179,781       5.97      7.924       358        81.36       636
400,001--425,000                           7       2,862,557       2.09      7.862       358        83.07       649
425,001--450,000                          11       4,841,078       3.53      8.010       358        82.20       618
450,001--475,000                           7       3,241,370       2.36      8.249       358        85.77       668
475,001--500,000                           9       4,425,553       3.23      8.209       357        83.49       639
500,001--750,000                          32      19,741,361      14.40      8.030       357        80.59       639
750,001--1,000,000                         4       3,392,252       2.48      8.694       358        80.51       649
---------------------------------------------------------------------------------------------------------------------
Total:                                   588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------------


Minimum: 20,684
Maximum: 988,617
Average: 233,089

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted   Weighted    Weighted
                                 Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                   of         Date         Date        Gross    Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------------

180                                  1          20,684       0.02      9.800       174       100.00      684
360                                587     137,035,602      99.98      8.258       358        80.03      631
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00      8.259       358        80.03      631
---------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                            % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of         Date         Date       Gross     Remaining   Combined    Average
  Range of Stated Remaining     Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Terms (months)           Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------------

169--180                             1          20,684       0.02      9.800       174       100.00      684
349--360                           587     137,035,602      99.98      8.258       358        80.03      631
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00      8.259       358        80.03      631
---------------------------------------------------------------------------------------------------------------


Minimum: 174
Maximum: 359
Weighted Average: 358

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average
  Range of Combined Original    Mortgage    Principal    Principal   Interest      Term     Original     FICO
        LTV Ratios (%)           Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------

10.01--15.00                         1         149,735       0.11      6.625        358       14.63      668
20.01--25.00                         1         120,000       0.09      7.750        358       22.64      619
25.01--30.00                         1         109,872       0.08      8.725        358       25.14      605
30.01--35.00                         1         121,708       0.09     11.125        359       34.79      511
35.01--40.00                         3         421,696       0.31      8.998        357       39.26      592
40.01--45.00                         6         786,642       0.57      7.679        357       42.29      583
45.01--50.00                         7         972,270       0.71      8.152        357       47.79      597
50.01--55.00                         7       1,740,239       1.27      8.206        357       52.13      583
55.01--60.00                        13       2,352,087       1.72      8.335        358       58.35      570
60.01--65.00                        18       3,191,331       2.33      8.088        357       63.12      595
65.01--70.00                        28       5,538,373       4.04      9.057        357       68.99      566
70.01--75.00                        37       8,274,399       6.04      8.494        358       73.74      573
75.01--80.00                       306      76,851,194      56.07      8.050        358       79.87      643
80.01--85.00                        29       6,146,074       4.48      7.952        358       84.44      629
85.01--90.00                        71      18,024,038      13.15      8.489        358       89.62      641
90.01--95.00                        49      11,615,666       8.48      8.770        358       94.89      650
95.01--100.00                       10         640,962       0.47     11.498        348      100.00      660
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00      8.259        358       80.03      631
---------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.03

RANGE OF GROSS MARGINS (%)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date      Gross     Remaining   Combined   Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    22       2,696,898       1.97      8.426       353        78.95      656
5.001--5.500                         1         284,357       0.21      8.900       356        89.62      645
5.501--6.000                       108      26,813,483      19.56      8.152       358        80.48      636
6.001--6.500                       390      94,408,926      68.88      8.123       358        81.00      637
6.501--7.000                        36       7,689,099       5.61      9.169       358        73.67      582
7.001--7.500                        28       4,211,763       3.07      9.856       358        65.98      544
7.501--8.000                         2         519,510       0.38      9.676       358        76.07      529
8.501--9.000                         1         432,250       0.32      9.650       358        95.00      629
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00      8.259       358        80.03      631
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.400
Maximum: 8.700
Non-Zero Weighted Average: 6.208

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                           % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined   Average
  Range of Minimum Mortgage     Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Rates (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    22       2,696,898       1.97       8.426      353       78.95        656
5.501--6.000                         1         266,038       0.19       5.925      358       80.00        707
6.001--6.500                        20       5,552,632       4.05       6.473      358       79.07        650
6.501--7.000                        36       8,755,658       6.39       6.806      357       75.48        638
7.001--7.500                        65      17,237,495      12.58       7.300      357       80.35        649
7.501--8.000                       129      35,070,330      25.59       7.797      358       79.63        639
8.001--8.500                        79      18,884,803      13.78       8.278      358       81.17        642
8.501--9.000                        85      18,473,608      13.48       8.771      358       80.89        612
9.001--9.500                        48      12,360,912       9.02       9.279      358       81.82        636
9.501--10.000                       50      10,174,912       7.42       9.771      358       81.01        598
10.001--10.500                      24       3,807,127       2.78      10.253      358       78.67        572
10.501--11.000                      19       2,428,556       1.77      10.749      358       84.49        603
11.001--11.500                       9       1,281,839       0.94      11.241      357       65.16        537
11.501--12.000                       1          65,480       0.05      11.625      359       79.88        520
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00       8.259      358       80.03        631
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.925
Maximum: 11.625
Non-Zero Weighted Average: 8.249

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined   Average
 Range of Maximum Mortgage      Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Rates (%)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    22       2,696,898       1.97      8.426       353        78.95       656
12.501--13.000                       2         506,038       0.37      6.364       358        78.78       673
13.001--13.500                      17       5,259,478       3.84      6.353       358        79.02       652
13.501--14.000                      36       8,793,276       6.42      6.840       357        75.87       638
14.001--14.500                      65      17,441,994      12.73      7.299       357        80.59       649
14.501--15.000                     128      34,792,712      25.39      7.796       358        79.55       639
15.001--15.500                      79      18,772,250      13.70      8.279       358        80.97       642
15.501--16.000                      86      18,559,115      13.54      8.772       358        80.89       612
16.001--16.500                      49      12,556,742       9.16      9.291       358        81.79       637
16.501--17.000                      51      10,230,777       7.46      9.770       358        81.01       598
17.001--17.500                      23       3,611,298       2.63     10.261       358        78.59       568
17.501--18.000                      20       2,488,392       1.82     10.748       358        84.26       601
18.001--18.500                       9       1,281,839       0.94     11.241       357        65.16       537
18.501--19.000                       1          65,480       0.05     11.625       359        79.88       520
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.850
Maximum: 18.625
Non-Zero Weighted Average: 15.248

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     22       2,696,898       1.97      8.426       353        78.95       656
1.000                                 4         977,783       0.71      8.117       357        86.17       632
1.500                               130      29,668,287      21.65      8.342       356        79.87       622
2.000                               432     103,713,319      75.67      8.232       358        80.04       633
----------------------------------------------------------------------------------------------------------------
Total:                              588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.882

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     22       2,696,898       1.97      8.426       353        78.95       656
1.000                                 4         977,783       0.71      8.117       357        86.17       632
1.500                               562     133,381,606      97.32      8.256       358        80.00       631
----------------------------------------------------------------------------------------------------------------
Total:                              588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.496

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     22       2,696,898       1.97      8.426       353        78.95       656
17                                    6       1,177,684       0.86      7.725       353        79.75       625
18                                    9       2,218,699       1.62      7.836       354        76.08       623
19                                   31       8,296,008       6.05      8.075       355        76.85       619
20                                   15       2,330,415       1.70      8.520       356        86.29       617
21                                   44      12,095,779       8.83      8.538       357        78.88       631
22                                  330      81,033,468      59.12      8.225       358        80.32       635
23                                   93      19,242,250      14.04      8.336       359        81.06       621
30                                    1         190,969       0.14      8.600       354        85.00       582
31                                    2         678,062       0.49      8.563       355        88.94       587
34                                   33       6,886,797       5.02      8.232       358        78.33       637
35                                    2         209,257       0.15      7.273       359        73.71       606
----------------------------------------------------------------------------------------------------------------
Total:                              588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 17
Maximum: 35
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                      151      53,013,198      38.68      8.046       358        79.25       643
Florida                          69      14,880,067      10.86      8.447       358        79.62       619
Massachusetts                    25       5,847,510       4.27      8.291       357        82.31       621
Nevada                           20       4,537,044       3.31      7.714       358        79.65       634
New Jersey                       15       4,527,746       3.30      8.686       358        80.37       603
Hawaii                           11       4,358,622       3.18      8.279       358        79.66       673
Texas                            37       4,258,869       3.11      8.707       357        79.83       625
Illinois                         22       4,166,225       3.04      8.555       358        84.78       630
Maryland                         13       3,293,696       2.40      8.101       358        80.79       590
Arizona                          16       3,173,236       2.32      8.413       357        76.56       606
New York                         12       3,156,612       2.30      7.634       357        77.56       660
Pennsylvania                     18       2,901,693       2.12      7.908       358        81.75       657
Virginia                         14       2,863,687       2.09      8.232       358        80.95       617
Georgia                          16       2,711,819       1.98      8.565       357        82.45       625
Oregon                           13       2,345,175       1.71      8.046       358        76.93       616
Other                           136      21,021,086      15.34      8.655       358        81.27       618
------------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259       358        80.03       631
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 47

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Occupancy            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                         504     119,563,235      87.24      8.121       358        79.76       629
Investment                       55       9,681,409       7.06      9.547       358        81.59       637
Second Home                      29       7,811,641       5.70      8.767       357        82.17       658
------------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259       358        80.03       631
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Property Type          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       443      97,095,126      70.84      8.255       358        79.79       626
Planned Unit Development       64      17,352,738      12.66      8.186       358        80.63       641
Condo                          51      14,241,761      10.39      8.277       358        81.13       656
2-4 Family                     30       8,366,661       6.10      8.422       357        79.62       630
----------------------------------------------------------------------------------------------------------
Total:                        588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Purchase                      272      65,970,544      48.13      8.098       358        81.60       659
Refinance--Cashout            284      64,084,321      46.76      8.429       358        78.61       603
Refinance--Rate Term           32       7,001,421       5.11      8.205       358        78.16       628
----------------------------------------------------------------------------------------------------------
Total:                        588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Full Documentation            327      69,548,585      50.74      7.906       358        79.98       617
Stated Documentation          255      65,895,089      48.08      8.640       358        80.04       646
Limited Documentation           6       1,612,612       1.18      7.873       358        81.52       603
----------------------------------------------------------------------------------------------------------
Total:                        588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

500--524                      42       6,417,713       4.68      9.825       358        71.21       512
525--549                      40       7,156,714       5.22      9.011       358        70.36       536
550--574                      27       7,319,419       5.34      8.710       358        74.24       561
575--599                      54      10,352,864       7.55      8.395       357        74.22       588
600--624                     144      34,164,247      24.93      8.060       357        81.80       612
625--649                     107      27,252,954      19.88      8.138       358        83.47       636
650--674                      65      16,839,539      12.29      7.974       358        81.76       659
675--699                      41      10,199,744       7.44      8.122       357        81.01       687
700--724                      26       6,212,335       4.53      7.940       358        82.24       712
725--749                      22       5,901,610       4.31      8.333       358        81.94       735
750--774                      10       2,867,626       2.09      8.028       358        83.21       765
775--799                       9       2,252,762       1.64      7.546       358        79.85       786
800 +                          1         118,759       0.09      7.375       359        90.00       814
---------------------------------------------------------------------------------------------------------
Total:                       588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 631

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            160      39,819,205      29.05      8.695       358        81.67       636
12                            22       5,069,011       3.70      8.227       358        80.03       657
24                           373      85,804,593      62.61      8.073       358        79.46       627
36                            33       6,363,478       4.64      8.051       357        77.48       634
---------------------------------------------------------------------------------------------------------
Total:                       588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 24

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
          Lien            Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                     578     136,415,324      99.53      8.243       358        79.93       631
2nd Lien                      10         640,962       0.47     11.498       348       100.00       660
---------------------------------------------------------------------------------------------------------
Total:                       588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET--NEW CENTURY                                               588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                        of         Date          Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

0                       481     105,478,137      76.96      8.466       358        79.60       625
24                        1         221,000       0.16      6.250       358        78.93       585
36                        1         228,000       0.17      7.475       358        80.00       666
60                      105      31,129,149      22.71      7.576       358        81.49       652
----------------------------------------------------------------------------------------------------
Total:                  588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------

IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------

Summary Statistics
--------------------------------------------------------------------------------
Number of Mortgage Loans: 4,207
Aggregate Principal Balance ($): 834,934,301
Weighted Average Current Mortgage Rate (%): 8.458
Non-Zero Weighted Average Margin (%): 6.361
Non-Zero Weighted Average Maximum Rate (%): 15.071
Weighted Average Stated Original Term (months): 354
Weighted Average Stated Remaining Term (months): 351
Weighted Average Combined Original LTV (%): 80.13
%First Liens: 96.51
%Owner Occupied: 92.54
%Purchase: 42.77
%Full Doc: 41.02
Non-Zero Weighted Average Credit Score: 626



                                              % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of         Date         Date        Gross    Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
Originator           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited              519   101,528,933      12.16      8.489       356        77.27       621
Chapel                   19     3,993,794       0.48      7.759       349        77.17       617
Encore                  319    81,834,599       9.80      8.270       355        78.88       628
First Banc               68    12,579,754       1.51      8.293       341        79.62       615
First Horizon           201    32,183,570       3.85      9.156       357        84.05       623
First NLC             1,845   325,712,321      39.01      8.498       348        80.80       626
Flex Point               21     4,867,974       0.58      8.896       356        70.12       598
Funding America          49     5,970,602       0.72      8.789       350        81.43       631
Lenders Direct           50     8,763,158       1.05      8.485       328        80.22       624
Lime Financial           58    12,714,290       1.52      8.393       342        84.47       640
Mandalay                 34     5,413,209       0.65      8.633       305        85.28       667
Master Financial        212    49,777,061       5.96      8.506       335        83.97       638
Maxim                    15     1,747,337       0.21      9.151       336        84.37       600
New Century             588   137,056,286      16.42      8.259       358        80.03       631
Quick Loan               33     8,487,809       1.02      8.186       356        72.46       588
Rose Mortgage           176    42,303,604       5.07      8.536       356        77.92       613
--------------------------------------------------------------------------------------------------
Total:                4,207   834,934,301     100.00      8.458       351        80.13       626
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 1 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                               % of
                                                                             Mortgage
                                                                              Pool by
                                                                 Aggregate   Aggregate  Weighted   Weighted  Weighted
                                                       Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                                         of         Date        Date      Gross   Remaining  Combined   Average
                                                      Mortgage   Principal   Principal  Interest     Term    Original    FICO
Product with IO term                                    Loans   Balance ($)   Balance   Rate (%)   (months)    LTV       Score
-------------------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                             7       496,311      0.06     8.252      117       64.85      631
Fixed - 15 Year                                            23     1,940,686      0.23     8.448      177       69.52      634
Fixed - 20 Year                                            24     1,990,559      0.24     8.449      237       75.91      634
Fixed - 25 Year                                             3       245,515      0.03     8.559      298       84.90      622
Fixed - 30 Year                                           489    62,069,627      7.43     8.684      357       78.47      620
Balloon - 15/30                                           354    23,914,670      2.86    11.437      176       99.11      657
Balloon - 30/40                                            67    14,725,319      1.76     7.933      357       78.80      627
ARM - 2 Year/6 Month Balloon 30/40                        789   213,147,286     25.53     8.242      357       80.12      626
ARM - 2 Year/6 Month Balloon 30/50                          1       203,935      0.02     8.450      357       80.00      625
ARM - 3 Year/6 Month Balloon 30/40                        211    44,732,369      5.36     8.383      357       80.00      616
ARM - 1 Year/6 Month                                        2       542,838      0.07     7.742      352       84.95      602
ARM - 2 Year/6 Month                                    1,203   227,698,738     27.27     8.687      357       79.02      614
ARM - 3 Year/6 Month                                      488    77,786,208      9.32     8.903      357       78.83      592
ARM - 5 Year/6 Month                                       12     1,990,884      0.24     8.472      357       76.09      631
Dual Amort - 10/40 - 2 Year/6 Month                         3       941,351      0.11     7.192      352       75.59      631
Interest Only ARM - 2 Year/6 Month - 24 mo. IO term         2       431,400      0.05     7.225      358       79.45      606
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term         3       639,500      0.08     7.938      358       77.28      631
Interest Only Fixed - 30 Year - 60 mo. IO term             14     4,480,985      0.54     7.527      357       77.12      657
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term       421   132,088,152     15.82     7.780      356       80.77      658
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term        81    22,362,444      2.68     7.772      357       80.65      666
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term         5     1,418,400      0.17     6.921      358       76.10      686
Interest Only Fixed - 30 Year - 120 mo. IO term             1       331,000      0.04     6.750      357       79.95      638
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term        1       186,686      0.02     8.000      358       80.00      641
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term        1        92,000      0.01     7.250      359       80.00      652
Interest Only ARM - 5 Year/6 Month - 120 mo. IO term        2       477,439      0.06     8.188      357       83.29      646
-------------------------------------------------------------------------------------------------------------------------------
Total:                                                  4,207   834,934,301    100.00     8.458      351       80.13      626
-------------------------------------------------------------------------------------------------------------------------------




                                                               % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000 - 5.999                             4      1,142,614       0.14      5.897       356        68.44       662
6.000 - 6.999                           260     68,694,226       8.23      6.728       355        75.82       660
7.000 - 7.999                         1,139    288,353,399      34.54      7.616       356        78.95       646
8.000 - 8.999                         1,232    256,222,317      30.69      8.530       356        79.63       620
9.000 - 9.999                           809    144,431,178      17.30      9.514       355        81.43       595
10.000 - 10.999                         388     47,407,285       5.68     10.501       333        85.15       588
11.000 - 11.999                         236     20,330,593       2.43     11.514       258        89.99       612
12.000 - 12.999                         100      6,606,772       0.79     12.431       244        97.81       633
13.000 - 13.999                          37      1,637,585       0.20     13.410       219        99.71       628
14.000 - 14.999                           2        108,333       0.01     14.151       257       100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                4,207    834,934,301     100.00      8.458       351        80.13       626
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 2 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                     % of
                                                  Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                            of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Principal Balances ($)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------

1 - 25,000                    31        673,662       0.08     11.023       269        99.81       650
25,001 - 50,000              217      8,609,762       1.03     11.184       254        93.39       633
50,001 - 75,000              368     23,374,011       2.80     10.133       297        85.80       619
75,001 - 100,000             411     36,041,776       4.32      9.306       326        82.48       613
100,001 - 125,000            446     50,423,050       6.04      9.043       339        79.89       607
125,001 - 150,000            401     55,346,959       6.63      8.770       351        78.26       608
150,001 - 175,000            353     57,212,084       6.85      8.643       353        77.83       611
175,001 - 200,000            344     64,684,246       7.75      8.466       356        78.47       617
200,001 - 225,000            279     59,356,344       7.11      8.352       357        79.43       626
225,001 - 250,000            241     57,191,618       6.85      8.343       357        78.87       620
250,001 - 275,000            183     47,999,943       5.75      8.193       357        79.91       619
275,001 - 300,000            163     46,951,780       5.62      8.179       356        79.05       623
300,001 - 325,000            131     40,901,155       4.90      8.122       357        79.24       626
325,001 - 350,000            109     36,783,058       4.41      8.248       357        80.75       631
350,001 - 375,000             78     28,168,660       3.37      8.110       357        79.36       649
375,001 - 400,000             86     33,483,287       4.01      8.081       357        80.31       644
400,001 - 425,000             68     28,047,213       3.36      8.098       356        81.41       636
425,001 - 450,000             54     23,720,988       2.84      7.982       357        80.96       629
450,001 - 475,000             39     18,005,723       2.16      8.065       357        80.86       652
475,001 - 500,000             58     28,411,352       3.40      8.033       356        80.58       644
500,001 - 750,000            137     80,985,039       9.70      8.117       357        81.54       646
750,001 - 1,000,000           10      8,562,593       1.03      8.240       356        82.32       670
--------------------------------------------------------------------------------------------------------
Total:                     4,207    834,934,301     100.00      8.458       351        80.13       626
--------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest     Term      Original     FICO
Stated Original Term (months)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------------

120                                   7        496,311       0.06      8.252       117        64.85       631
180                                 377     25,855,356       3.10     11.213       176        96.89       656
240                                  24      1,990,559       0.24      8.449       237        75.91       634
300                                   3        245,515       0.03      8.559       298        84.90       622
360                               3,796    806,346,560      96.58      8.370       357        79.61       625
---------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 3 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of          Date        Date        Gross    Remaining   Combined    Average
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Terms (months)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------

109 - 120                         7        496,311       0.06      8.252        117       64.85       631
169 - 180                       377     25,855,356       3.10     11.213        176       96.89       656
229 - 240                        24      1,990,559       0.24      8.449        237       75.91       634
289 - 300                         3        245,515       0.03      8.559        298       84.90       622
337 - 348                         1         73,261       0.01     10.240        348       99.97       615
349 - 360                     3,795    806,273,299      96.57      8.370        357       79.61       625
-----------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00      8.458        351       80.13       626
-----------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO
     LTV Ratios (%)           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

10.01 - 15.00                      1        149,735       0.02      6.625       358        14.63       668
15.01 - 20.00                      4        430,264       0.05      8.793       356        18.12       550
20.01 - 25.00                      7      1,072,051       0.13      7.404       327        23.60       599
25.01 - 30.00                      7        789,898       0.09      7.722       328        27.12       614
30.01 - 35.00                      8      1,258,495       0.15      7.747       358        32.73       636
35.01 - 40.00                     19      3,272,611       0.39      8.493       357        38.59       594
40.01 - 45.00                     39      6,037,573       0.72      8.033       354        42.50       587
45.01 - 50.00                     48      7,555,973       0.90      8.191       357        47.94       602
50.01 - 55.00                     53      9,792,664       1.17      8.349       350        52.87       581
55.01 - 60.00                     72     11,824,393       1.42      7.977       350        57.94       593
60.01 - 65.00                    122     23,050,855       2.76      8.603       355        63.37       574
65.01 - 70.00                    192     37,536,122       4.50      8.710       356        68.87       581
70.01 - 75.00                    288     60,082,262       7.20      8.471       354        73.95       580
75.01 - 80.00                  1,759    408,554,737      48.93      8.082       357        79.84       643
80.01 - 85.00                    437     87,800,198      10.52      8.668       356        84.51       606
85.01 - 90.00                    449     98,133,687      11.75      8.684       356        89.55       627
90.01 - 95.00                    194     39,254,353       4.70      8.969       355        94.65       643
95.01 - 100.00                   508     38,338,430       4.59     10.898       248        99.87       652
------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626
------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 4 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 982    110,194,672      13.20       9.118      311        82.69       631
<= 3.500                          24      5,254,841       0.63       7.546      357        75.52       655
3.501 - 4.000                     18      4,504,815       0.54       7.217      357        79.02       671
4.001 - 4.500                     36      9,094,630       1.09       7.637      358        77.15       646
4.501 - 5.000                    116     30,291,468       3.63       8.038      357        79.70       650
5.001 - 5.500                    344     95,334,837      11.42       8.176      356        80.87       638
5.501 - 6.000                    576    122,740,938      14.70       8.386      357        79.77       622
6.001 - 6.500                    724    167,240,991      20.03       8.150      357        80.74       633
6.501 - 7.000                    459    103,652,115      12.41       8.366      357        77.75       617
7.001 - 7.500                    788    150,498,041      18.03       8.672      357        79.37       613
7.501 - 8.000                     86     21,804,371       2.61       8.951      357        79.99       613
8.001 - 8.500                     41     11,563,246       1.38       9.203      356        80.07       585
8.501 - 9.000                      8      2,094,826       0.25       9.457      357        91.91       635
9.001 - 9.500                      4        608,535       0.07      10.003      357        81.06       607
9.501 - 10.000                     1         55,974       0.01      12.999      358        80.00       593
------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00       8.458      351        80.13       626
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.361



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Rates (%)            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982    110,194,672      13.20       9.118      311        82.69       631
5.501 - 6.000                    11      3,539,485       0.42       7.012      354        77.92       655
6.001 - 6.500                    48     13,346,398       1.60       6.478      357        77.24       653
6.501 - 7.000                   178     47,361,242       5.67       6.864      356        77.63       653
7.001 - 7.500                   339     89,903,723      10.77       7.318      357        78.90       653
7.501 - 8.000                   672    172,884,806      20.71       7.815      357        79.31       642
8.001 - 8.500                   468    110,806,183      13.27       8.288      357        80.04       631
8.501 - 9.000                   568    118,049,761      14.14       8.798      357        79.54       612
9.001 - 9.500                   323     66,980,184       8.02       9.289      357        81.07       607
9.501 - 10.000                  335     60,876,415       7.29       9.794      357        81.25       579
10.001 - 10.500                 134     20,121,968       2.41      10.291      357        83.25       573
10.501 - 11.000                 104     14,825,160       1.78      10.774      357        83.34       574
11.001 - 11.500                  25      3,609,194       0.43      11.207      357        72.33       548
11.501 - 12.000                  10      1,308,419       0.16      11.772      358        74.81       535
12.001 - 12.500                   4        596,608       0.07      12.107      355        86.35       598
12.501 - 13.000                   6        530,084       0.06      12.838      358        90.78       654
-----------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00       8.458      351        80.13       626
-----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.349

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 5 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of         Date          Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Rates (%)            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982    110,194,672      13.20       9.118      311        82.69       631
<= 12.500                        54     17,265,869       2.07       6.913      356        76.07       648
12.501 - 13.000                  84     23,768,286       2.85       7.531      356        80.70       643
13.001 - 13.500                 104     29,105,055       3.49       7.372      357        79.07       641
13.501 - 14.000                 250     64,577,386       7.73       7.435      357        77.48       638
14.001 - 14.500                 346     90,057,163      10.79       7.562      357        79.18       650
14.501 - 15.000                 619    154,283,391      18.48       7.944      357        79.26       640
15.001 - 15.500                 430     98,102,008      11.75       8.415      357        80.11       628
15.501 - 16.000                 519    104,486,319      12.51       8.868      357        79.87       610
16.001 - 16.500                 280     56,049,693       6.71       9.320      357        81.65       610
16.501 - 17.000                 296     52,923,224       6.34       9.824      357        81.01       576
17.001 - 17.500                 115     17,008,201       2.04      10.313      357        82.49       567
17.501 - 18.000                  92     12,477,295       1.49      10.838      357        83.97       572
18.001 - 18.500                  21      2,692,761       0.32      11.216      357        76.37       546
18.501 - 19.000                   5        521,670       0.06      11.794      358        90.79       563
19.001 - 19.500                   4        596,608       0.07      12.107      355        86.35       598
19.501 - 20.000                   5        479,972       0.06      12.870      358        91.39       666
23.501 - 24.000                   1        344,727       0.04       8.350      356        80.00       596
-----------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00       8.458      351        80.13       626
-----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date          Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               982    110,194,672      13.20      9.118       311        82.69       631
1.000                            4        977,783       0.12      8.117       357        86.17       632
1.500                          536    113,700,175      13.62      8.478       357        78.71       621
2.000                          759    191,102,926      22.89      8.244       357        79.43       630
3.000                        1,922    418,202,620      50.09      8.379       357        80.14       624
5.000                            2        477,439       0.06      8.188       357        83.29       646
6.000                            2        278,686       0.03      7.752       358        80.00       645
----------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.501

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 6 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Subsequent Periodic Cap (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                           982    110,194,672      13.20      9.118        311       82.69       631
1.000                                      929    226,572,420      27.14      8.360        356       80.12       624
1.500                                    2,280    493,139,917      59.06      8.360        357       79.62       626
2.000                                       16      5,027,292       0.60      8.097        352       74.50       646
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458        351       80.13       626
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.347



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Months to Next Rate Adjustment       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                           982    110,194,672      13.20      9.118       311        82.69       631
4                                            2        542,838       0.07      7.742       352        84.95       602
13                                           1        148,392       0.02      7.715       349        80.00       688
14                                          12      3,494,254       0.42      7.277       350        79.98       671
15                                          26      6,584,989       0.79      7.927       351        77.50       634
16                                          40      8,436,065       1.01      8.076       352        78.89       616
17                                          56     14,549,041       1.74      8.065       353        81.10       632
18                                          72     16,774,090       2.01      8.271       354        80.07       619
19                                         152     38,763,362       4.64      8.221       355        79.87       627
20                                         382     98,346,319      11.78      8.264       356        79.57       628
21                                         602    145,734,452      17.45      8.367       357        79.81       627
22                                         927    210,101,065      25.16      8.349       358        79.87       631
23                                         148     31,223,519       3.74      8.422       359        80.42       622
24                                           2        542,000       0.06      8.514       360        75.23       609
26                                           1        343,599       0.04      7.350       350        79.45       609
27                                           1        620,450       0.07      8.750       351        80.00       629
28                                           3        449,585       0.05      8.433       352        82.12       617
29                                           1         67,233       0.01      8.940       353        90.00       657
30                                           7      1,092,442       0.13      8.513       354        83.14       584
31                                          21      4,137,727       0.50      8.794       355        80.81       584
32                                          66     13,235,533       1.59      8.445       356        79.05       618
33                                         285     51,260,009       6.14      8.601       357        79.96       603
34                                         379     70,994,603       8.50      8.550       358        79.19       618
35                                          20      3,411,339       0.41      8.606       359        75.77       600
54                                           1        163,942       0.02      6.950       354        55.00       686
55                                           2        750,831       0.09      8.819       355        76.48       578
56                                           1        125,744       0.02      9.400       356        86.90       605
57                                           4        794,402       0.10      8.340       357        84.54       678
58                                           7      1,607,840       0.19      6.997       358        73.88       663
59                                           4        443,963       0.05      8.500       359        80.83       699
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 7 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Properties                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                 915    271,051,190      32.46      8.166       347        80.11       641
Florida                                    666    119,157,019      14.27      8.545       350        79.54       622
Illinois                                   323     57,253,943       6.86      8.729       351        81.62       622
New York                                   139     41,732,227       5.00      8.075       356        76.69       650
Arizona                                    175     31,983,040       3.83      8.512       353        78.87       612
Texas                                      267     26,645,529       3.19      8.714       343        81.65       615
Maryland                                   115     25,717,947       3.08      8.335       356        78.32       613
New Jersey                                  78     20,673,940       2.48      8.901       357        77.01       607
Massachusetts                               90     20,615,447       2.47      8.671       355        81.80       617
Nevada                                      93     19,876,786       2.38      8.152       350        81.56       636
Virginia                                    99     17,526,643       2.10      8.716       353        78.29       608
Washington                                  87     16,283,977       1.95      8.239       351        80.51       606
Pennsylvania                               125     15,389,417       1.84      8.798       355        81.23       608
Rhode Island                                74     15,231,725       1.82      8.545       357        79.23       617
Connecticut                                 74     14,903,474       1.78      8.554       356        78.40       616
Other                                      887    120,891,996      14.48      8.852       354        82.05       613
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Primary                                  3,860    772,614,335      92.54      8.414       350        79.97       624
Investment                                 294     49,653,254       5.95      9.026       356        81.90       652
Second Home                                 53     12,666,712       1.52      8.902       356        82.77       652
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------




                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Property Type                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Single Family Residence                  3,421    651,774,116      78.06      8.460       351        80.29       622
2-4 Family                                 300     78,056,397       9.35      8.502       352        78.31       645
Planned Unit Development                   216     53,080,620       6.36      8.308       352        80.00       628
Condo                                      270     52,023,168       6.23      8.519       350        80.96       641
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 8 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average    Weighted
                           of          Date         Date       Gross    Remaining   Combined     Average
                        Mortgage    Principal    Principal   Interest     Term      Original      FICO
Loan Purpose              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV        Score
--------------------------------------------------------------------------------------------------------

Refinance - Cashout       2,110    437,916,030      52.45      8.465       355        77.84        603
Purchase                  1,871    357,138,841      42.77      8.464       346        82.85        656
Refinance - Rate Term       226     39,879,430       4.78      8.331       352        80.94        614
--------------------------------------------------------------------------------------------------------
Total:                    4,207    834,934,301     100.00      8.458       351        80.13        626
--------------------------------------------------------------------------------------------------------




                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average    Weighted
                           of         Date         Date        Gross    Remaining   Combined     Average
                        Mortgage    Principal    Principal   Interest      Term     Original      FICO
Documentation Level       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV        Score
--------------------------------------------------------------------------------------------------------

Stated Documentation      2,137    456,501,438      54.68      8.630       350        80.07         641
Full Documentation        1,897    342,451,104      41.02      8.246       353        80.02         607
Limited Documentation       173     35,981,758       4.31      8.300       347        81.92         619
--------------------------------------------------------------------------------------------------------
Total:                    4,207    834,934,301     100.00      8.458       351        80.13         626
--------------------------------------------------------------------------------------------------------




                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average    Weighted
                           of         Date         Date        Gross    Remaining   Combined     Average
                        Mortgage    Principal    Principal   Interest      Term     Original      FICO
Credit Score              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV        Score
--------------------------------------------------------------------------------------------------------

500 - 524                   279     46,441,483       5.56      9.545       356        71.85         512
525 - 549                   314     53,891,969       6.45      9.290       357        73.26         537
550 - 574                   349     62,693,438       7.51      8.943       357        77.64         562
575 - 599                   457     85,015,577      10.18      8.664       354        80.25         588
600 - 624                   736    149,312,831      17.88      8.344       351        81.30         613
625 - 649                   818    160,006,052      19.16      8.336       348        81.71         636
650 - 674                   549    117,558,718      14.08      8.166       348        81.69         661
675 - 699                   336     75,361,493       9.03      8.038       347        81.41         686
700 - 724                   169     38,491,751       4.61      7.991       347        82.65         710
725 - 749                   106     22,546,021       2.70      8.079       352        83.03         735
750 - 774                    60     14,673,824       1.76      7.960       351        81.70         760
775 - 799                    28      7,965,284       0.95      7.705       345        80.53         783
800 +                         6        975,860       0.12      7.833       323        86.00         807
--------------------------------------------------------------------------------------------------------
Total:                    4,207    834,934,301     100.00      8.458       351        80.13         626
--------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                  Page 9 of 10



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted   Weighted    Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest     Term      Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                           1,199    216,979,403      25.99      8.805       351        80.89       624
6                              15      3,489,711       0.42      8.529       357        77.65       639
12                            237     68,168,035       8.16      8.285       354        78.59       646
24                          1,682    372,728,763      44.64      8.235       353        80.10       628
30                              7      1,406,947       0.17      9.452       357        82.36       609
36                          1,007    164,152,599      19.66      8.550       344        80.08       619
48                              1        145,964       0.02      8.500       359        36.50       529
60                             59      7,862,880       0.94      8.849       353        76.52       580
---------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
Lien                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position                    Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                    3,747    805,760,512      96.51      8.349       356        79.43       625
2nd Lien                      460     29,173,789       3.49     11.483       208        99.52       657
---------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------




                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                           3,676    672,426,295      80.54      8.626       349        80.02       618
24                              2        431,400       0.05      7.225       358        79.45       606
36                              3        639,500       0.08      7.938       358        77.28       631
60                            521    160,349,981      19.21      7.764       357        80.61       659
120                             5      1,087,125       0.13      7.638       357        81.43       643
---------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 15, 2006 15:15                                                 Page 10 of 10

         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                            ASSET-BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 4,207
Aggregate Principal Balance ($): 834,934,301
Weighted Average Current Mortgage Rate (%): 8.458
Non-Zero Weighted Average Margin (%): 6.361
Non-Zero Weighted Average Maximum Rate (%): 15.071
Weighted Average Stated Original Term (months): 354
Weighted Average Stated Remaining Term (months): 351
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 96.51
% Owner Occupied: 92.54
% Purchase: 42.77
% Full Doc: 41.02
Non-Zero Weighted Average Credit Score: 626

ORIGINATOR



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Originator                              Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------------------

Accredited                               519     101,528,933      12.16      8.489       356        77.27       621
Chapel                                    19       3,993,794       0.48      7.759       349        77.17       617
Encore                                   319      81,834,599       9.80      8.270       355        78.88       628
First Banc                                68      12,579,754       1.51      8.293       341        79.62       615
First Horizon                            201      32,183,570       3.85      9.156       357        84.05       623
First NLC                              1,845     325,712,321      39.01      8.498       348        80.80       626
Flex Point                                21       4,867,974       0.58      8.896       356        70.12       598
Funding America                           49       5,970,602       0.72      8.789       350        81.43       631
Lenders Direct                            50       8,763,158       1.05      8.485       328        80.22       624
Lime Financial                            58      12,714,290       1.52      8.393       342        84.47       640
Mandalay                                  34       5,413,209       0.65      8.633       305        85.28       667
Master Financial                         212      49,777,061       5.96      8.506       335        83.97       638
Maxim                                     15       1,747,337       0.21      9.151       336        84.37       600
New Century                              588     137,056,286      16.42      8.259       358        80.03       631
Quick Loan                                33       8,487,809       1.02      8.186       356        72.46       588
Rose Mortgage                            176      42,303,604       5.07      8.536       356        77.92       613
---------------------------------------------------------------------------------------------------------------------
Total:                                 4,207     834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date          Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Product with IO term                    Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                              7        496,311       0.06      8.252       117        64.85       631
Fixed--15 Year                             23      1,940,686       0.23      8.448       177        69.52       634
Fixed--20 Year                             24      1,990,559       0.24      8.449       237        75.91       634
Fixed--25 Year                              3        245,515       0.03      8.559       298        84.90       622
Fixed--30 Year                            489     62,069,627       7.43      8.684       357        78.47       620
Balloon--15/30                            354     23,914,670       2.86     11.437       176        99.11       657
Balloon--30/40                             67     14,725,319       1.76      7.933       357        78.80       627
ARM--2 Year/6 Month Balloon 30/40         789    213,147,286      25.53      8.242       357        80.12       626
ARM--2 Year/6 Month Balloon 30/50           1        203,935       0.02      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40         211     44,732,369       5.36      8.383       357        80.00       616
ARM--1 Year/6 Month                         2        542,838       0.07      7.742       352        84.95       602
ARM--2 Year/6 Month                     1,203    227,698,738      27.27      8.687       357        79.02       614
ARM--3 Year/6 Month                       488     77,786,208       9.32      8.903       357        78.83       592
ARM--5 Year/6 Month                        12      1,990,884       0.24      8.472       357        76.09       631
Dual Amort--10/40--2 Year/6 Month           3        941,351       0.11      7.192       352        75.59       631
Interest Only ARM--2 Year/6 Month--
   24 mo. IO term                           2        431,400       0.05      7.225       358        79.45       606
Interest Only ARM--3 Year/6 Month--
   36 mo. IO term                           3        639,500       0.08      7.938       358        77.28       631
Interest Only Fixed--30 Year--60
   mo. IO term                             14      4,480,985       0.54      7.527       357        77.12       657
Interest Only ARM--2 Year/6 Month--
   60 mo. IO term                         421    132,088,152      15.82      7.780       356        80.77       658
Interest Only ARM--3 Year/6 Month--
   60 mo. IO term                          81     22,362,444       2.68      7.772       357        80.65       666
Interest Only ARM--5 Year/6 Month--
   60 mo. IO term                           5      1,418,400       0.17      6.921       358        76.10       686
Interest Only Fixed--30 Year--120
   mo. IO term                              1        331,000       0.04      6.750       357        79.95       638
Interest Only ARM--2 Year/6 Month--
   120 mo. IO term                          1        186,686       0.02      8.000       358        80.00       641
Interest Only ARM--3 Year/6 Month--
   120 mo. IO term                          1         92,000       0.01      7.250       359        80.00       652
Interest Only ARM--5 Year/6 Month--
   120 mo. IO term                          2        477,439       0.06      8.188       357        83.29       646
---------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date          Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Gross Interest Rates (%)       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                                4      1,142,614       0.14      5.897       356        68.44       662
6.000--6.999                              260     68,694,226       8.23      6.728       355        75.82       660
7.000--7.999                            1,139    288,353,399      34.54      7.616       356        78.95       646
8.000--8.999                            1,232    256,222,317      30.69      8.530       356        79.63       620
9.000--9.999                              809    144,431,178      17.30      9.514       355        81.43       595
10.000--10.999                            388     47,407,285       5.68     10.501       333        85.15       588
11.000--11.999                            236     20,330,593       2.43     11.514       258        89.99       612
12.000--12.999                            100      6,606,772       0.79     12.431       244        97.81       633
13.000--13.999                             37      1,637,585       0.20     13.410       219        99.71       628
14.000--14.999                              2        108,333       0.01     14.151       257       100.00       637
---------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date          Date      Gross     Remaining   Combined    Average
RANGE OF CUT-OFF DATE PRINCIPAL       Mortgage    Principal    Principal   Interest     Term      Original     FICO
BALANCES ($)                            Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

1--25,000                                  31        673,662       0.08     11.023       269        99.81       650
25,001--50,000                            217      8,609,762       1.03     11.184       254        93.39       633
50,001--75,000                            368     23,374,011       2.80     10.133       297        85.80       619
75,001--100,000                           411     36,041,776       4.32      9.306       326        82.48       613
100,001--125,000                          446     50,423,050       6.04      9.043       339        79.89       607
125,001--150,000                          401     55,346,959       6.63      8.770       351        78.26       608
150,001--175,000                          353     57,212,084       6.85      8.643       353        77.83       611
175,001--200,000                          344     64,684,246       7.75      8.466       356        78.47       617
200,001--225,000                          279     59,356,344       7.11      8.352       357        79.43       626
225,001--250,000                          241     57,191,618       6.85      8.343       357        78.87       620
250,001--275,000                          183     47,999,943       5.75      8.193       357        79.91       619
275,001--300,000                          163     46,951,780       5.62      8.179       356        79.05       623
300,001--325,000                          131     40,901,155       4.90      8.122       357        79.24       626
325,001--350,000                          109     36,783,058       4.41      8.248       357        80.75       631
350,001--375,000                           78     28,168,660       3.37      8.110       357        79.36       649
375,001--400,000                           86     33,483,287       4.01      8.081       357        80.31       644
400,001--425,000                           68     28,047,213       3.36      8.098       356        81.41       636
425,001--450,000                           54     23,720,988       2.84      7.982       357        80.96       629
450,001--475,000                           39     18,005,723       2.16      8.065       357        80.86       652
475,001--500,000                           58     28,411,352       3.40      8.033       356        80.58       644
500,001--750,000                          137     80,985,039       9.70      8.117       357        81.54       646
750,001--1,000,000                         10      8,562,593       1.03      8.240       356        82.32       670
---------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

120                                     7        496,311       0.06      8.252       117        64.85       631
180                                   377     25,855,356       3.10     11.213       176        96.89       656
240                                    24      1,990,559       0.24      8.449       237        75.91       634
300                                     3        245,515       0.03      8.559       298        84.90       622
360                                 3,796    806,346,560      96.58      8.370       357        79.61       625
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

109--120                                7        496,311       0.06      8.252       117        64.85       631
169--180                              377     25,855,356       3.10     11.213       176        96.89       656
229--240                               24      1,990,559       0.24      8.449       237        75.91       634
289--300                                3        245,515       0.03      8.559       298        84.90       622
337--348                                1         73,261       0.01     10.240       348        99.97       615
349--360                            3,795    806,273,299      96.57      8.370       357        79.61       625
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

10.01--15.00                           1        149,735       0.02      6.625       358        14.63       668
15.01--20.00                           4        430,264       0.05      8.793       356        18.12       550
20.01--25.00                           7      1,072,051       0.13      7.404       327        23.60       599
25.01--30.00                           7        789,898       0.09      7.722       328        27.12       614
30.01--35.00                           8      1,258,495       0.15      7.747       358        32.73       636
35.01--40.00                          19      3,272,611       0.39      8.493       357        38.59       594
40.01--45.00                          39      6,037,573       0.72      8.033       354        42.50       587
45.01--50.00                          48      7,555,973       0.90      8.191       357        47.94       602
50.01--55.00                          53      9,792,664       1.17      8.349       350        52.87       581
55.01--60.00                          72     11,824,393       1.42      7.977       350        57.94       593
60.01--65.00                         122     23,050,855       2.76      8.603       355        63.37       574
65.01--70.00                         192     37,536,122       4.50      8.710       356        68.87       581
70.01--75.00                         288     60,082,262       7.20      8.471       354        73.95       580
75.01--80.00                       1,759    408,554,737      48.93      8.082       357        79.84       643
80.01--85.00                         437     87,800,198      10.52      8.668       356        84.51       606
85.01--90.00                         449     98,133,687      11.75      8.684       356        89.55       627
90.01--95.00                         194     39,254,353       4.70      8.969       355        94.65       643
95.01--100.00                        508     38,338,430       4.59     10.898       248        99.87       652
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     982    110,194,672      13.20      9.118       311        82.69       631
<= 3.500                              24      5,254,841       0.63      7.546       357        75.52       655
3.501--4.000                          18      4,504,815       0.54      7.217       357        79.02       671
4.001--4.500                          36      9,094,630       1.09      7.637       358        77.15       646
4.501--5.000                         116     30,291,468       3.63      8.038       357        79.70       650
5.001--5.500                         344     95,334,837      11.42      8.176       356        80.87       638
5.501--6.000                         576    122,740,938      14.70      8.386       357        79.77       622
6.001--6.500                         724    167,240,991      20.03      8.150       357        80.74       633
6.501--7.000                         459    103,652,115      12.41      8.366       357        77.75       617
7.001--7.500                         788    150,498,041      18.03      8.672       357        79.37       613
7.501--8.000                          86     21,804,371       2.61      8.951       357        79.99       613
8.001--8.500                          41     11,563,246       1.38      9.203       356        80.07       585
8.501--9.000                           8      2,094,826       0.25      9.457       357        91.91       635
9.001--9.500                           4        608,535       0.07     10.003       357        81.06       607
9.501--10.000                          1         55,974       0.01     12.999       358        80.00       593
----------------------------------------------------------------------------------------------------------------
Total:                             4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.361

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      982    110,194,672      13.20      9.118       311        82.69       631
5.501--6.000                           11      3,539,485       0.42      7.012       354        77.92       655
6.001--6.500                           48     13,346,398       1.60      6.478       357        77.24       653
6.501--7.000                          178     47,361,242       5.67      6.864       356        77.63       653
7.001--7.500                          339     89,903,723      10.77      7.318       357        78.90       653
7.501--8.000                          672    172,884,806      20.71      7.815       357        79.31       642
8.001--8.500                          468    110,806,183      13.27      8.288       357        80.04       631
8.501--9.000                          568    118,049,761      14.14      8.798       357        79.54       612
9.001--9.500                          323     66,980,184       8.02      9.289       357        81.07       607
9.501--10.000                         335     60,876,415       7.29      9.794       357        81.25       579
10.001 -10.500                        134     20,121,968       2.41     10.291       357        83.25       573
10.501--11.000                        104     14,825,160       1.78     10.774       357        83.34       574
11.001--11.500                         25      3,609,194       0.43     11.207       357        72.33       548
11.501--12.000                         10      1,308,419       0.16     11.772       358        74.81       535
12.001--12.500                          4        596,608       0.07     12.107       355        86.35       598
12.501--13.000                          6        530,084       0.06     12.838       358        90.78       654
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.349

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      982    110,194,672      13.20      9.118        311       82.69       631
<= 12.500                              54     17,265,869       2.07      6.913        356       76.07       648
12.501--13.000                         84     23,768,286       2.85      7.531        356       80.70       643
13.001--13.500                        104     29,105,055       3.49      7.372        357       79.07       641
13.501--14.000                        250     64,577,386       7.73      7.435        357       77.48       638
14.001--14.500                        346     90,057,163      10.79      7.562        357       79.18       650
14.501--15.000                        619    154,283,391      18.48      7.944        357       79.26       640
15.001--15.500                        430     98,102,008      11.75      8.415        357       80.11       628
15.501--16.000                        519    104,486,319      12.51      8.868        357       79.87       610
16.001--16.500                        280     56,049,693       6.71      9.320        357       81.65       610
16.501--17.000                        296     52,923,224       6.34      9.824        357       81.01       576
17.001--17.500                        115     17,008,201       2.04     10.313        357       82.49       567
17.501--18.000                         92     12,477,295       1.49     10.838        357       83.97       572
18.001--18.500                         21      2,692,761       0.32     11.216        357       76.37       546
18.501--19.000                          5        521,670       0.06     11.794        358       90.79       563
19.001--19.500                          4        596,608       0.07     12.107        355       86.35       598
19.501--20.000                          5        479,972       0.06     12.870        358       91.39       666
23.501--24.000                          1        344,727       0.04      8.350        356       80.00       596
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458        351       80.13       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      982    110,194,672      13.20      9.118       311        82.69       631
1.000                                   4        977,783       0.12      8.117       357        86.17       632
1.500                                 536    113,700,175      13.62      8.478       357        78.71       621
2.000                                 759    191,102,926      22.89      8.244       357        79.43       630
3.000                               1,922    418,202,620      50.09      8.379       357        80.14       624
5.000                                   2        477,439       0.06      8.188       357        83.29       646
6.000                                   2        278,686       0.03      7.752       358        80.00       645
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.501

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       982   110,194,672      13.20      9.118        311      82.69       631
1.000                                  929   226,572,420      27.14      8.360        356      80.12       624
1.500                                2,280   493,139,917      59.06      8.360        357      79.62       626
2.000                                   16     5,027,292       0.60      8.097        352      74.50       646
-----------------------------------------------------------------------------------------------------------------
Total:                               4,207   834,934,301     100.00      8.458        351      80.13       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.347

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      982    110,194,672      13.20      9.118       311        82.69       631
4                                       2        542,838       0.07      7.742       352        84.95       602
13                                      1        148,392       0.02      7.715       349        80.00       688
14                                     12      3,494,254       0.42      7.277       350        79.98       671
15                                     26      6,584,989       0.79      7.927       351        77.50       634
16                                     40      8,436,065       1.01      8.076       352        78.89       616
17                                     56     14,549,041       1.74      8.065       353        81.10       632
18                                     72     16,774,090       2.01      8.271       354        80.07       619
19                                    152     38,763,362       4.64      8.221       355        79.87       627
20                                    382     98,346,319      11.78      8.264       356        79.57       628
21                                    602    145,734,452      17.45      8.367       357        79.81       627
22                                    927    210,101,065      25.16      8.349       358        79.87       631
23                                    148     31,223,519       3.74      8.422       359        80.42       622
24                                      2        542,000       0.06      8.514       360        75.23       609
26                                      1        343,599       0.04      7.350       350        79.45       609
27                                      1        620,450       0.07      8.750       351        80.00       629
28                                      3        449,585       0.05      8.433       352        82.12       617
29                                      1         67,233       0.01      8.940       353        90.00       657
30                                      7      1,092,442       0.13      8.513       354        83.14       584
31                                     21      4,137,727       0.50      8.794       355        80.81       584
32                                     66     13,235,533       1.59      8.445       356        79.05       618
33                                    285     51,260,009       6.14      8.601       357        79.96       603
34                                    379     70,994,603       8.50      8.550       358        79.19       618
35                                     20      3,411,339       0.41      8.606       359        75.77       600
54                                      1        163,942       0.02      6.950       354        55.00       686
55                                      2        750,831       0.09      8.819       355        76.48       578
56                                      1        125,744       0.02      9.400       356        86.90       605
57                                      4        794,402       0.10      8.340       357        84.54       678
58                                      7      1,607,840       0.19      6.997       358        73.88       663
59                                      4        443,963       0.05      8.500       359        80.83       699
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
   Geographic Distribution of     Mortgage    Principal    Principal   Interest     Term      Original     FICO
      Mortgaged Properties          Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

California                            915    271,051,190      32.46      8.166       347        80.11       641
Florida                               666    119,157,019      14.27      8.545       350        79.54       622
Illinois                              323     57,253,943       6.86      8.729       351        81.62       622
New York                              139     41,732,227       5.00      8.075       356        76.69       650
Arizona                               175     31,983,040       3.83      8.512       353        78.87       612
Texas                                 267     26,645,529       3.19      8.714       343        81.65       615
Maryland                              115     25,717,947       3.08      8.335       356        78.32       613
New Jersey                             78     20,673,940       2.48      8.901       357        77.01       607
Massachusetts                          90     20,615,447       2.47      8.671       355        81.80       617
Nevada                                 93     19,876,786       2.38      8.152       350        81.56       636
Virginia                               99     17,526,643       2.10      8.716       353        78.29       608
Washington                             87     16,283,977       1.95      8.239       351        80.51       606
Pennsylvania                          125     15,389,417       1.84      8.798       355        81.23       608
Rhode Island                           74     15,231,725       1.82      8.545       357        79.23       617
Connecticut                            74     14,903,474       1.78      8.554       356        78.40       616
Other                                 887    120,891,996      14.48      8.852       354        82.05       613
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

OCCUPANCY



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Occupancy                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Primary                             3,860    772,614,335      92.54      8.414       350        79.97       624
Investment                            294     49,653,254       5.95      9.026       356        81.90       652
Second Home                            53     12,666,712       1.52      8.902       356        82.77       652
-----------------------------------------------------------------------------------------------------------------
Total:                              4,207    834,934,301     100.00      8.458       351        80.13       626
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      3,421    651,774,116      78.06      8.460       351        80.29       622
2-4 Family                     300     78,056,397       9.35      8.502       352        78.31       645
Planned Unit Development       216     53,080,620       6.36      8.308       352        80.00       628
Condo                          270     52,023,168       6.23      8.519       350        80.96       641
----------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Refinance--Cashout           2,110    437,916,030      52.45      8.465       355        77.84       603
Purchase                     1,871    357,138,841      42.77      8.464       346        82.85       656
Refinance--Rate Term           226     39,879,430       4.78      8.331       352        80.94       614
----------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Stated Documentation         2,137    456,501,438      54.68      8.630        350       80.07       641
Full Documentation           1,897    342,451,104      41.02      8.246        353       80.02       607
Limited Documentation          173     35,981,758       4.31      8.300        347       81.92       619
----------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458        351       80.13       626
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

500--524                      279     46,441,483       5.56      9.545       356        71.85       512
525--549                      314     53,891,969       6.45      9.290       357        73.26       537
550--574                      349     62,693,438       7.51      8.943       357        77.64       562
575--599                      457     85,015,577      10.18      8.664       354        80.25       588
600--624                      736    149,312,831      17.88      8.344       351        81.30       613
625--649                      818    160,006,052      19.16      8.336       348        81.71       636
650--674                      549    117,558,718      14.08      8.166       348        81.69       661
675--699                      336     75,361,493       9.03      8.038       347        81.41       686
700--724                      169     38,491,751       4.61      7.991       347        82.65       710
725--749                      106     22,546,021       2.70      8.079       352        83.03       735
750--774                       60     14,673,824       1.76      7.960       351        81.70       760
775--799                       28      7,965,284       0.95      7.705       345        80.53       783
800 +                           6        975,860       0.12      7.833       323        86.00       807
---------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                           1,199    216,979,403       25.99     8.805       351        80.89       624
6                              15      3,489,711        0.42     8.529       357        77.65       639
12                            237     68,168,035        8.16     8.285       354        78.59       646
24                          1,682    372,728,763       44.64     8.235       353        80.10       628
30                              7      1,406,947        0.17     9.452       357        82.36       609
36                          1,007    164,152,599       19.66     8.550       344        80.08       619
48                              1        145,964        0.02     8.500       359        36.50       529
60                             59      7,862,880        0.94     8.849       353        76.52       580
---------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301      100.00     8.458       351        80.13       626
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE                                                4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

LIEN POSITION



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined   Average
  Lien               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

1st Lien               3,747    805,760,512     96.51       8.349       356        79.43       625
2nd Lien                 460     29,173,789      3.49      11.483       208        99.52       657
----------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301    100.00       8.458       351        80.13       626
----------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined   Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

0                      3,676    672,426,295     80.54       8.626       349        80.02       618
24                         2        431,400      0.05       7.225       358        79.45       606
36                         3        639,500      0.08       7.938       358        77.28       631
60                       521    160,349,981     19.21       7.764       357        80.61       659
120                        5      1,087,125      0.13       7.638       357        81.43       643
----------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301    100.00       8.458       351        80.13       626
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     12



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--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------

MORGAN STANLEY
IXIS 2006-HE3 TERMSHEET
ALL RECORDS
4,207 RECORDS
BALANCE: 834,934,301

SELECTION CRITERIA: ALL RECORDS
TABLE OF CONTENTS

1. Summary Statistics
2. Originator
3. Product with IO term
4. Range of Gross Interest Rates (%)
5. Range of Cut-off Date Principal Balances ($)
6. Stated Original Term (months)
7. Range of Stated Remaining Terms (months)
8. Range of Combined Original LTV Ratios (%)
9. Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 4,207
Aggregate Principal Balance ($): 834,934,301
Weighted Average Current Mortgage Rate (%): 8.458
Non-Zero Weighted Average Margin (%): 6.361
Non-Zero Weighted Average Maximum Rate (%): 15.071
Weighted Average Stated Original Term (months): 354
Weighted Average Stated Remaining Term (months): 351
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 96.51
% Owner Occupied: 92.54
% Purchase: 42.77
% Full Doc: 41.02
Non-Zero Weighted Average Credit Score: 626

2. ORIGINATOR



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
ORIGINATOR                                              LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
----------                                            --------  -----------  ---------  --------  ---------  --------  --------

Accredited                                                 519  101,528,933      12.16     8.489        356     77.27       621
Chapel                                                      19    3,993,794       0.48     7.759        349     77.17       617
Encore                                                     319   81,834,599        9.8      8.27        355     78.88       628
First Banc                                                  68   12,579,754       1.51     8.293        341     79.62       615
First Horizon                                              201   32,183,570       3.85     9.156        357     84.05       623
First NLC                                                1,845  325,712,321      39.01     8.498        348      80.8       626
Flex Point                                                  21    4,867,974       0.58     8.896        356     70.12       598
Funding America                                             49    5,970,602       0.72     8.789        350     81.43       631
Lenders Direct                                              50    8,763,158       1.05     8.485        328     80.22       624
Lime Financial                                              58   12,714,290       1.52     8.393        342     84.47       640
Mandalay                                                    34    5,413,209       0.65     8.633        305     85.28       667
Master Financial                                           212   49,777,061       5.96     8.506        335     83.97       638
Maxim                                                       15    1,747,337       0.21     9.151        336     84.37       600
New Century                                                588  137,056,286      16.42     8.259        358     80.03       631
Quick Loan                                                  33    8,487,809       1.02     8.186        356     72.46       588
Rose Mortgage                                              176   42,303,604       5.07     8.536        356     77.92       613
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


3. PRODUCT WITH IO TERM



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
PRODUCT WITH IO TERM                                    LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
--------------------                                  --------  -----------  ---------  --------  ---------  --------  --------

Fixed - 10 Year                                              7      496,311       0.06     8.252        117     64.85       631
Fixed - 15 Year                                             23    1,940,686       0.23     8.448        177     69.52       634
Fixed - 20 Year                                             24    1,990,559       0.24     8.449        237     75.91       634
Fixed - 25 Year                                              3      245,515       0.03     8.559        298      84.9       622
Fixed - 30 Year                                            489   62,069,627       7.43     8.684        357     78.47       620
Balloon - 15/30                                            354   23,914,670       2.86    11.437        176     99.11       657
Balloon - 30/40                                             67   14,725,319       1.76     7.933        357      78.8       627
ARM - 2 Year/6 Month Balloon 30/40                         789  213,147,286      25.53     8.242        357     80.12       626
ARM - 2 Year/6 Month Balloon 30/50                           1      203,935       0.02      8.45        357        80       625
ARM - 3 Year/6 Month Balloon 30/40                         211   44,732,369       5.36     8.383        357        80       616
ARM - 1 Year/6 Month                                         2      542,838       0.07     7.742        352     84.95       602
ARM - 2 Year/6 Month                                     1,203  227,698,738      27.27     8.687        357     79.02       614
ARM - 3 Year/6 Month                                       488   77,786,208       9.32     8.903        357     78.83       592
ARM - 5 Year/6 Month                                        12    1,990,884       0.24     8.472        357     76.09       631
Dual Amort - 10/40 - 2 Year/6 Month                          3      941,351       0.11     7.192        352     75.59       631
Interest Only ARM - 2 Year/6 Month - 24 mo. IO term          2      431,400       0.05     7.225        358     79.45       606
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term          3      639,500       0.08     7.938        358     77.28       631
Interest Only Fixed - 30 Year - 60 mo. IO term              14    4,480,985       0.54     7.527        357     77.12       657
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term        421  132,088,152      15.82      7.78        356     80.77       658
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term         81   22,362,444       2.68     7.772        357     80.65       666
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term          5    1,418,400       0.17     6.921        358      76.1       686
Interest Only Fixed - 30 Year - 120 mo. IO term              1      331,000       0.04      6.75        357     79.95       638
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term         1      186,686       0.02         8        358        80       641
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term         1       92,000       0.01      7.25        359        80       652
Interest Only ARM - 5 Year/6 Month - 120 mo. IO term         2      477,439       0.06     8.188        357     83.29       646
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF GROSS INTEREST RATES (%)                       LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
---------------------------------                     --------  -----------  ---------  --------  ---------  --------  --------

5.000 - 5.999                                                4    1,142,614       0.14     5.897        356     68.44       662
6.000 - 6.999                                              260   68,694,226       8.23     6.728        355     75.82       660
7.000 - 7.999                                            1,139  288,353,399      34.54     7.616        356     78.95       646
8.000 - 8.999                                            1,232  256,222,317      30.69      8.53        356     79.63       620
9.000 - 9.999                                              809  144,431,178       17.3     9.514        355     81.43       595
10.000 - 10.999                                            388   47,407,285       5.68    10.501        333     85.15       588
11.000 - 11.999                                            236   20,330,593       2.43    11.514        258     89.99       612
12.000 - 12.999                                            100    6,606,772       0.79    12.431        244     97.81       633
13.000 - 13.999                                             37    1,637,585        0.2     13.41        219     99.71       628
14.000 - 14.999                                              2      108,333       0.01    14.151        257       100       637
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)            LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
--------------------------------------------          --------  -----------  ---------  --------  ---------  --------  --------

1 - 25,000                                                  31      673,662      0.08    11.023        269     99.81       650
25,001 - 50,000                                            217    8,609,762      1.03    11.184        254     93.39       633
50,001 - 75,000                                            368   23,374,011       2.8    10.133        297      85.8       619
75,001 - 100,000                                           411   36,041,776      4.32     9.306        326     82.48       613
100,001 - 125,000                                          446   50,423,050      6.04     9.043        339     79.89       607
125,001 - 150,000                                          401   55,346,959      6.63      8.77        351     78.26       608
150,001 - 175,000                                          353   57,212,084      6.85     8.643        353     77.83       611
175,001 - 200,000                                          344   64,684,246      7.75     8.466        356     78.47       617
200,001 - 225,000                                          279   59,356,344      7.11     8.352        357     79.43       626
225,001 - 250,000                                          241   57,191,618      6.85     8.343        357     78.87       620
250,001 - 275,000                                          183   47,999,943      5.75     8.193        357     79.91       619
275,001 - 300,000                                          163   46,951,780      5.62     8.179        356     79.05       623
300,001 - 325,000                                          131   40,901,155       4.9     8.122        357     79.24       626
325,001 - 350,000                                          109   36,783,058      4.41     8.248        357     80.75       631
350,001 - 375,000                                           78   28,168,660      3.37      8.11        357     79.36       649
375,001 - 400,000                                           86   33,483,287      4.01     8.081        357     80.31       644
400,001 - 425,000                                           68   28,047,213      3.36     8.098        356     81.41       636
425,001 - 450,000                                           54   23,720,988      2.84     7.982        357     80.96       629
450,001 - 475,000                                           39   18,005,723      2.16     8.065        357     80.86       652
475,001 - 500,000                                           58   28,411,352       3.4     8.033        356     80.58       644
500,001 - 750,000                                          137   80,985,039       9.7     8.117        357     81.54       646
750,001 - 1,000,000                                         10    8,562,593      1.03      8.24        356     82.32       670
                                                         -----  -----------      ----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301       100     8.458        351     80.13       626
                                                         =====  ===========      ====    ======        ===     =====       ===


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

6. STATED ORIGINAL TERM (MONTHS)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
STATED ORIGINAL TERM (MONTHS)                           LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------------                         --------  -----------  ---------  --------  ---------  --------  --------

120                                                          7      496,311       0.06     8.252        117     64.85       631
180                                                        377   25,855,356        3.1    11.213        176     96.89       656
240                                                         24    1,990,559       0.24     8.449        237     75.91       634
300                                                          3      245,515       0.03     8.559        298      84.9       622
360                                                      3,796  806,346,560      96.58      8.37        357     79.61       625
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Minimum: 120
Maximum: 360
Weighted Average: 354

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF STATED REMAINING TERMS (MONTHS)                LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
----------------------------------------              --------  -----------  ---------  --------  ---------  --------  --------

109 - 120                                                    7      496,311       0.06     8.252        117     64.85       631
169 - 180                                                  377   25,855,356        3.1    11.213        176     96.89       656
229 - 240                                                   24    1,990,559       0.24     8.449        237     75.91       634
289 - 300                                                    3      245,515       0.03     8.559        298      84.9       622
337 - 348                                                    1       73,261       0.01     10.24        348     99.97       615
349 - 360                                                3,795  806,273,299      96.57      8.37        357     79.61       625
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Minimum: 117
Maximum: 360
Weighted Average: 351

8. RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF COMBINED ORIGINAL LTV RATIOS (%)               LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------------------------             --------  -----------  ---------  --------  ---------  --------  --------

10.01 - 15.00                                                1      149,735       0.02     6.625        358     14.63       668
15.01 - 20.00                                                4      430,264       0.05     8.793        356     18.12       550
20.01 - 25.00                                                7    1,072,051       0.13     7.404        327      23.6       599
25.01 - 30.00                                                7      789,898       0.09     7.722        328     27.12       614
30.01 - 35.00                                                8    1,258,495       0.15     7.747        358     32.73       636
35.01 - 40.00                                               19    3,272,611       0.39     8.493        357     38.59       594
40.01 - 45.00                                               39    6,037,573       0.72     8.033        354      42.5       587
45.01 - 50.00                                               48    7,555,973        0.9     8.191        357     47.94       602
50.01 - 55.00                                               53    9,792,664       1.17     8.349        350     52.87       581
55.01 - 60.00                                               72   11,824,393       1.42     7.977        350     57.94       593
60.01 - 65.00                                              122   23,050,855       2.76     8.603        355     63.37       574
65.01 - 70.00                                              192   37,536,122        4.5      8.71        356     68.87       581
70.01 - 75.00                                              288   60,082,262        7.2     8.471        354     73.95       580
75.01 - 80.00                                            1,759  408,554,737      48.93     8.082        357     79.84       643
80.01 - 85.00                                              437   87,800,198      10.52     8.668        356     84.51       606
85.01 - 90.00                                              449   98,133,687      11.75     8.684        356     89.55       627
90.01 - 95.00                                              194   39,254,353        4.7     8.969        355     94.65       643
95.01 - 100.00                                             508   38,338,430       4.59    10.898        248     99.87       652
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

9. RANGE OF GROSS MARGINS (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF GROSS MARGINS (%)                              LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
--------------------------                            --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                                           982  110,194,672       13.2     9.118        311     82.69       631
<= 3.500                                                    24    5,254,841       0.63     7.546        357     75.52       655
3.501 - 4.000                                               18    4,504,815       0.54     7.217        357     79.02       671
4.001 - 4.500                                               36    9,094,630       1.09     7.637        358     77.15       646
4.501 - 5.000                                              116   30,291,468       3.63     8.038        357      79.7       650
5.001 - 5.500                                              344   95,334,837      11.42     8.176        356     80.87       638
5.501 - 6.000                                              576  122,740,938       14.7     8.386        357     79.77       622
6.001 - 6.500                                              724  167,240,991      20.03      8.15        357     80.74       633
6.501 - 7.000                                              459  103,652,115      12.41     8.366        357     77.75       617
7.001 - 7.500                                              788  150,498,041      18.03     8.672        357     79.37       613
7.501 - 8.000                                               86   21,804,371       2.61     8.951        357     79.99       613
8.001 - 8.500                                               41   11,563,246       1.38     9.203        356     80.07       585
8.501 - 9.000                                                8    2,094,826       0.25     9.457        357     91.91       635
9.001 - 9.500                                                4      608,535       0.07    10.003        357     81.06       607
9.501 - 10.000                                               1       55,974       0.01    12.999        358        80       593
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.361

10. RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF MINIMUM MORTGAGE RATES (%)                     LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------------------                   --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                                           982  110,194,672       13.2     9.118        311     82.69       631
5.501 - 6.000                                               11    3,539,485       0.42     7.012        354     77.92       655
6.001 - 6.500                                               48   13,346,398        1.6     6.478        357     77.24       653
6.501 - 7.000                                              178   47,361,242       5.67     6.864        356     77.63       653
7.001 - 7.500                                              339   89,903,723      10.77     7.318        357      78.9       653
7.501 - 8.000                                              672  172,884,806      20.71     7.815        357     79.31       642
8.001 - 8.500                                              468  110,806,183      13.27     8.288        357     80.04       631
8.501 - 9.000                                              568  118,049,761      14.14     8.798        357     79.54       612
9.001 - 9.500                                              323   66,980,184       8.02     9.289        357     81.07       607
9.501 - 10.000                                             335   60,876,415       7.29     9.794        357     81.25       579
10.001 -10.500                                             134   20,121,968       2.41    10.291        357     83.25       573
10.501 - 11.000                                            104   14,825,160       1.78    10.774        357     83.34       574
11.001 - 11.500                                             25    3,609,194       0.43    11.207        357     72.33       548
11.501 - 12.000                                             10    1,308,419       0.16    11.772        358     74.81       535
12.001 - 12.500                                              4      596,608       0.07    12.107        355     86.35       598
12.501 - 13.000                                              6      530,084       0.06    12.838        358     90.78       654
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.349

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
RANGE OF MAXIMUM MORTGAGE RATES (%)                     LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------------------                   --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                                           982  110,194,672       13.2     9.118        311     82.69       631
<= 12.500                                                   54   17,265,869       2.07     6.913        356     76.07       648
12.501 - 13.000                                             84   23,768,286       2.85     7.531        356      80.7       643
13.001 - 13.500                                            104   29,105,055       3.49     7.372        357     79.07       641
13.501 - 14.000                                            250   64,577,386       7.73     7.435        357     77.48       638
14.001 - 14.500                                            346   90,057,163      10.79     7.562        357     79.18       650
14.501 - 15.000                                            619  154,283,391      18.48     7.944        357     79.26       640
15.001 - 15.500                                            430   98,102,008      11.75     8.415        357     80.11       628
15.501 - 16.000                                            519  104,486,319      12.51     8.868        357     79.87       610
16.001 - 16.500                                            280   56,049,693       6.71      9.32        357     81.65       610
16.501 - 17.000                                            296   52,923,224       6.34     9.824        357     81.01       576
17.001 - 17.500                                            115   17,008,201       2.04    10.313        357     82.49       567
17.501 - 18.000                                             92   12,477,295       1.49    10.838        357     83.97       572
18.001 - 18.500                                             21    2,692,761       0.32    11.216        357     76.37       546
18.501 - 19.000                                              5      521,670       0.06    11.794        358     90.79       563
19.001 - 19.500                                              4      596,608       0.07    12.107        355     86.35       598
19.501 - 20.000                                              5      479,972       0.06     12.87        358     91.39       666
23.501 - 24.000                                              1      344,727       0.04      8.35        356        80       596
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071

12. INITIAL PERIODIC CAP (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
INITIAL PERIODIC CAP (%)                                LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------------------                              --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                                           982  110,194,672       13.2     9.118        311     82.69       631
1                                                            4      977,783       0.12     8.117        357     86.17       632
1.5                                                        536  113,700,175      13.62     8.478        357     78.71       621
2                                                          759  191,102,926      22.89     8.244        357     79.43       630
3                                                        1,922  418,202,620      50.09     8.379        357     80.14       624
5                                                            2      477,439       0.06     8.188        357     83.29       646
6                                                            2      278,686       0.03     7.752        358        80       645
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.501

13. SUBSEQUENT PERIODIC CAP (%)



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
SUBSEQUENT PERIODIC CAP (%)                             LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
---------------------------                           --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                                           982  110,194,672       13.2     9.118        311     82.69       631
1                                                          929  226,572,420      27.14      8.36        356     80.12       624
1.5                                                      2,280  493,139,917      59.06      8.36        357     79.62       626
2                                                           16    5,027,292        0.6     8.097        352      74.5       646
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.347

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
MONTHS TO NEXT RATE ADJUSTMENT                          LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------------------------                        --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                                           982  110,194,672       13.2     9.118        311     82.69       631
4                                                            2      542,838       0.07     7.742        352     84.95       602
13                                                           1      148,392       0.02     7.715        349        80       688
14                                                          12    3,494,254       0.42     7.277        350     79.98       671
15                                                          26    6,584,989       0.79     7.927        351      77.5       634
16                                                          40    8,436,065       1.01     8.076        352     78.89       616
17                                                          56   14,549,041       1.74     8.065        353      81.1       632
18                                                          72   16,774,090       2.01     8.271        354     80.07       619
19                                                         152   38,763,362       4.64     8.221        355     79.87       627
20                                                         382   98,346,319      11.78     8.264        356     79.57       628
21                                                         602  145,734,452      17.45     8.367        357     79.81       627
22                                                         927  210,101,065      25.16     8.349        358     79.87       631
23                                                         148   31,223,519       3.74     8.422        359     80.42       622
24                                                           2      542,000       0.06     8.514        360     75.23       609
26                                                           1      343,599       0.04      7.35        350     79.45       609
27                                                           1      620,450       0.07      8.75        351        80       629
28                                                           3      449,585       0.05     8.433        352     82.12       617
29                                                           1       67,233       0.01      8.94        353        90       657
30                                                           7    1,092,442       0.13     8.513        354     83.14       584
31                                                          21    4,137,727        0.5     8.794        355     80.81       584
32                                                          66   13,235,533       1.59     8.445        356     79.05       618
33                                                         285   51,260,009       6.14     8.601        357     79.96       603
34                                                         379   70,994,603        8.5      8.55        358     79.19       618
35                                                          20    3,411,339       0.41     8.606        359     75.77       600
54                                                           1      163,942       0.02      6.95        354        55       686
55                                                           2      750,831       0.09     8.819        355     76.48       578
56                                                           1      125,744       0.02       9.4        356      86.9       605
57                                                           4      794,402        0.1      8.34        357     84.54       678
58                                                           7    1,607,840       0.19     6.997        358     73.88       663
59                                                           4      443,963       0.05       8.5        359     80.83       699
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES         LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------------------------------       --------  -----------  ---------  --------  ---------  --------  --------

California                                                 915  271,051,190      32.46     8.166        347     80.11       641
Florida                                                    666  119,157,019      14.27     8.545        350     79.54       622
Illinois                                                   323   57,253,943       6.86     8.729        351     81.62       622
New York                                                   139   41,732,227          5     8.075        356     76.69       650
Arizona                                                    175   31,983,040       3.83     8.512        353     78.87       612
Texas                                                      267   26,645,529       3.19     8.714        343     81.65       615
Maryland                                                   115   25,717,947       3.08     8.335        356     78.32       613
New Jersey                                                  78   20,673,940       2.48     8.901        357     77.01       607
Massachusetts                                               90   20,615,447       2.47     8.671        355      81.8       617
Nevada                                                      93   19,876,786       2.38     8.152        350     81.56       636
Virginia                                                    99   17,526,643        2.1     8.716        353     78.29       608
Washington                                                  87   16,283,977       1.95     8.239        351     80.51       606
Pennsylvania                                               125   15,389,417       1.84     8.798        355     81.23       608
Rhode Island                                                74   15,231,725       1.82     8.545        357     79.23       617
Connecticut                                                 74   14,903,474       1.78     8.554        356      78.4       616
Other                                                      887  120,891,996      14.48     8.852        354     82.05       613
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


Number of States/District of Columbia Represented: 50

16. OCCUPANCY



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
OCCUPANCY                                              LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
---------                                             --------  -----------  ---------  --------  ---------  --------  --------

Primary                                                  3,860  772,614,335      92.54     8.414        350     79.97       624
Investment                                                 294   49,653,254       5.95     9.026        356      81.9       652
Second Home                                                 53   12,666,712       1.52     8.902        356     82.77       652
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


17. PROPERTY TYPE



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
PROPERTY TYPE                                           LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-------------                                         --------  -----------  ---------  --------  ---------  --------  --------

Single Family Residence                                  3,421  651,774,116      78.06      8.46        351     80.29       622
2-4 Family                                                 300   78,056,397       9.35     8.502        352     78.31       645
Planned Unit Development                                   216   53,080,620       6.36     8.308        352        80       628
Condo                                                      270   52,023,168       6.23     8.519        350     80.96       641
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


18. LOAN PURPOSE



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
LOAN PURPOSE                                            LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------                                          --------  -----------  ---------  --------  ---------  --------  --------

Refinance - Cashout                                      2,110  437,916,030      52.45     8.465        355     77.84       603
Purchase                                                 1,871  357,138,841      42.77     8.464        346     82.85       656
Refinance - Rate Term                                      226   39,879,430       4.78     8.331        352     80.94       614
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


19. DOCUMENTATION LEVEL



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
DOCUMENTATION LEVEL                                     LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-------------------                                   --------  -----------  ---------  --------  ---------  --------  --------

Stated Documentation                                     2,137  456,501,438      54.68      8.63        350     80.07       641
Full Documentation                                       1,897  342,451,104      41.02     8.246        353     80.02       607
Limited Documentation                                      173   35,981,758       4.31       8.3        347     81.92       619
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


20. CREDIT SCORE



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
CREDIT SCORE                                            LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------                                          --------  -----------  ---------  --------  ---------  --------  --------

500 - 524                                                  279   46,441,483       5.56     9.545        356     71.85       512
525 - 549                                                  314   53,891,969       6.45      9.29        357     73.26       537
550 - 574                                                  349   62,693,438       7.51     8.943        357     77.64       562
575 - 599                                                  457   85,015,577      10.18     8.664        354     80.25       588
600 - 624                                                  736  149,312,831      17.88     8.344        351      81.3       613
625 - 649                                                  818  160,006,052      19.16     8.336        348     81.71       636
650 - 674                                                  549  117,558,718      14.08     8.166        348     81.69       661
675 - 699                                                  336   75,361,493       9.03     8.038        347     81.41       686
700 - 724                                                  169   38,491,751       4.61     7.991        347     82.65       710
725 - 749                                                  106   22,546,021        2.7     8.079        352     83.03       735
750 - 774                                                   60   14,673,824       1.76      7.96        351      81.7       760
775 - 799                                                   28    7,965,284       0.95     7.705        345     80.53       783
800 +                                                        6      975,860       0.12     7.833        323        86       807
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

21. PREPAYMENT PENALTY TERM



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
PREPAYMENT PENALTY TERM                                 LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------                               --------  -----------  ---------  --------  ---------  --------  --------

0                                                        1,199  216,979,403      25.99     8.805        351     80.89       624
6                                                           15    3,489,711       0.42     8.529        357     77.65       639
12                                                         237   68,168,035       8.16     8.285        354     78.59       646
24                                                       1,682  372,728,763      44.64     8.235        353      80.1       628
30                                                           7    1,406,947       0.17     9.452        357     82.36       609
36                                                       1,007  164,152,599      19.66      8.55        344     80.08       619
48                                                           1      145,964       0.02       8.5        359      36.5       529
60                                                          59    7,862,880       0.94     8.849        353     76.52       580
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

22. LIEN POSITION



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
LIEN POSITION                                           LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-------------                                         --------  -----------  ---------  --------  ---------  --------  --------

1st Lien                                                 3,747  805,760,512      96.51     8.349        356     79.43       625
2nd Lien                                                   460   29,173,789       3.49    11.483        208     99.52       657
                                                         -----  -----------      -----    ------        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====    ======        ===     =====       ===


23. INTEREST ONLY TERM



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
INTEREST ONLY TERM                                      LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------------                                    --------  -----------  ---------  --------  ---------  --------  --------

0                                                        3,676  672,426,295      80.54     8.626        349     80.02       618
24                                                           2      431,400       0.05     7.225        358     79.45       606
36                                                           3      639,500       0.08     7.938        358     77.28       631
60                                                         521  160,349,981      19.21     7.764        357     80.61       659
120                                                          5    1,087,125       0.13     7.638        357     81.43       643
                                                         -----  -----------      -----     -----        ---     -----       ---
TOTAL:                                                   4,207  834,934,301        100     8.458        351     80.13       626
                                                         =====  ===========      =====     =====        ===     =====       ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

  IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-
                               BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 4,207
Aggregate Principal Balance ($): 834,934,301
Weighted Average Current Mortgage Rate (%): 8.458
Non-Zero Weighted Average Margin (%): 6.361
Non-Zero Weighted Average Maximum Rate (%): 15.071
Weighted Average Stated Original Term (months): 354
Weighted Average Stated Remaining Term (months): 351
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 96.51
% Owner Occupied: 92.54
% Purchase: 42.77
% Full Doc: 41.02
Non-Zero Weighted Average Credit Score: 626

ORIGINATOR



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of          Date        Date        Gross    Remaining   Combined    Average     Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
          Originator              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------

Accredited                          519    101,528,933       12.16     8.489       356        77.27       621       41.90
Chapel                               19      3,993,794        0.48     7.759       349        77.17       617       44.49
Encore                              319     81,834,599        9.80     8.270       355        78.88       628       42.77
First Banc                           68     12,579,754        1.51     8.293       341        79.62       615       42.62
First Horizon                       201     32,183,570        3.85     9.156       357        84.05       623       40.28
First NLC                         1,845    325,712,321       39.01     8.498       348        80.80       626       43.55
Flex Point                           21      4,867,974        0.58     8.896       356        70.12       598       42.96
Funding America                      49      5,970,602        0.72     8.789       350        81.43       631       41.04
Lenders Direct                       50      8,763,158        1.05     8.485       328        80.22       624       43.75
Lime Financial                       58     12,714,290        1.52     8.393       342        84.47       640       43.84
Mandalay                             34      5,413,209        0.65     8.633       305        85.28       667       45.24
Master Financial                    212     49,777,061        5.96     8.506       335        83.97       638       42.07
Maxim                                15      1,747,337        0.21     9.151       336        84.37       600       39.18
New Century                         588    137,056,286       16.42     8.259       358        80.03       631       42.23
Quick Loan                           33      8,487,809        1.02     8.186       356        72.46       588       42.28
Rose Mortgage                       176     42,303,604        5.07     8.536       356        77.92       613       43.01
--------------------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301      100.00     8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of          Date        Date        Gross    Remaining   Combined    Average     Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
     Product with IO term         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                        7        496,311       0.06      8.252       117        64.85       631       41.82
Fixed--15 Year                       23      1,940,686       0.23      8.448       177        69.52       634       39.55
Fixed--20 Year                       24      1,990,559       0.24      8.449       237        75.91       634       42.81
Fixed--25 Year                        3        245,515       0.03      8.559       298        84.90       622       41.39
Fixed--30 Year                      489     62,069,627       7.43      8.684       357        78.47       620       40.85
Balloon--15/30                      354     23,914,670       2.86     11.437       176        99.11       657       43.93
Balloon--30/40                       67     14,725,319       1.76      7.933       357        78.80       627       42.76
ARM--2 Year/6 Month
   Balloon 30/40                    789    213,147,286      25.53      8.242       357        80.12       626       43.39
ARM--2 Year/6 Month
   Balloon 30/50                      1        203,935       0.02      8.450       357        80.00       625       51.37
ARM--3 Year/6 Month
   Balloon 30/40                    211     44,732,369       5.36      8.383       357        80.00       616       43.87
ARM--1 Year/6 Month                   2        542,838       0.07      7.742       352        84.95       602       47.25
ARM--2 Year/6 Month               1,203    227,698,738      27.27      8.687       357        79.02       614       42.07
ARM--3 Year/6 Month                 488     77,786,208       9.32      8.903       357        78.83       592       42.71
ARM--5 Year/6 Month                  12      1,990,884       0.24      8.472       357        76.09       631       42.15
Dual Amort--10/40--2 Year/6
   Month                              3        941,351       0.11      7.192       352        75.59       631       49.84
Interest Only ARM--2 Year/6
   Month--24 mo. IO term              2        431,400       0.05      7.225       358        79.45       606       29.07
Interest Only ARM--3 Year/6
   Month--36 mo. IO term              3        639,500       0.08      7.938       358        77.28       631       39.93
Interest Only Fixed--30
   Year--60 mo. IO term              14      4,480,985       0.54      7.527       357        77.12       657       42.09
Interest Only ARM--2 Year/6
   Month--60 mo. IO term            421    132,088,152      15.82      7.780       356        80.77       658       43.38
Interest Only ARM--3 Year/6
   Month--60 mo. IO term             81     22,362,444       2.68      7.772       357        80.65       666       43.30
Interest Only ARM--5 Year/6
   Month--60 mo. IO term              5      1,418,400       0.17      6.921       358        76.10       686       42.26
Interest Only Fixed--30
   Year--120 mo. IO term              1        331,000       0.04      6.750       357        79.95       638       37.02
Interest Only ARM--2 Year/6
   Month--120 mo. IO term             1        186,686       0.02      8.000       358        80.00       641       46.89
Interest Only ARM--3 Year/6
   Month--120 mo. IO term             1         92,000       0.01      7.250       359        80.00       652       44.60
Interest Only ARM--5 Year/6
   Month--120 mo. IO term             2        477,439       0.06      8.188       357        83.29       646       44.81
--------------------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of          Date        Date        Gross    Remaining   Combined    Average     Back
Range of Gross Interest Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
             (%)                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------

5.000--5.999                          4      1,142,614       0.14      5.897       356        68.44       662       44.12
6.000--6.999                        260     68,694,226       8.23      6.728       355        75.82       660       43.16
7.000--7.999                      1,139    288,353,399      34.54      7.616       356        78.95       646       42.74
8.000--8.999                      1,232    256,222,317      30.69      8.530       356        79.63       620       42.59
9.000--9.999                        809    144,431,178      17.30      9.514       355        81.43       595       43.12
10.000--10.999                      388     47,407,285       5.68     10.501       333        85.15       588       42.27
11.000--11.999                      236     20,330,593       2.43     11.514       258        89.99       612       42.99
12.000--12.999                      100      6,606,772       0.79     12.431       244        97.81       633       43.76
13.000--13.999                       37      1,637,585       0.20     13.410       219        99.71       628       43.33
14.000--14.999                        2        108,333       0.01     14.151       257       100.00       637       47.49
--------------------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                           % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of          Date        Date        Gross    Remaining   Combined    Average     Back
     Range of Cut-off Date      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
    Principal Balances ($)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------

1--25,000                            31        673,662       0.08     11.023       269        99.81       650       44.15
25,001--50,000                      217      8,609,762       1.03     11.184       254        93.39       633       40.07
50,001--75,000                      368     23,374,011       2.80     10.133       297        85.80       619       39.96
75,001--100,000                     411     36,041,776       4.32      9.306       326        82.48       613       40.08
100,001--125,000                    446     50,423,050       6.04      9.043       339        79.89       607       40.70
125,001--150,000                    401     55,346,959       6.63      8.770       351        78.26       608       41.57
150,001--175,000                    353     57,212,084       6.85      8.643       353        77.83       611       42.15
175,001--200,000                    344     64,684,246       7.75      8.466       356        78.47       617       43.03
200,001--225,000                    279     59,356,344       7.11      8.352       357        79.43       626       43.08
225,001--250,000                    241     57,191,618       6.85      8.343       357        78.87       620       44.00
250,001--275,000                    183     47,999,943       5.75      8.193       357        79.91       619       42.99
275,001--300,000                    163     46,951,780       5.62      8.179       356        79.05       623       43.66
300,001--325,000                    131     40,901,155       4.90      8.122       357        79.24       626       44.47
325,001--350,000                    109     36,783,058       4.41      8.248       357        80.75       631       43.13
350,001--375,000                     78     28,168,660       3.37      8.110       357        79.36       649       43.25
375,001--400,000                     86     33,483,287       4.01      8.081       357        80.31       644       43.85
400,001--425,000                     68     28,047,213       3.36      8.098       356        81.41       636       44.27
425,001--450,000                     54     23,720,988       2.84      7.982       357        80.96       629       43.62
450,001--475,000                     39     18,005,723       2.16      8.065       357        80.86       652       42.95
475,001--500,000                     58     28,411,352       3.40      8.033       356        80.58       644       44.41
500,001--750,000                    137     80,985,039       9.70      8.117       357        81.54       646       42.77
750,001--1,000,000                   10      8,562,593       1.03      8.240       356        82.32       670       43.16
--------------------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 198,463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                               of          Date        Date        Gross    Remaining   Combined    Average     Back
   Stated Original Term     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         (months)             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
----------------------------------------------------------------------------------------------------------------------

120                               7        496,311       0.06      8.252       117        64.85       631       41.82
180                             377     25,855,356       3.10     11.213       176        96.89       656       43.63
240                              24      1,990,559       0.24      8.449       237        75.91       634       42.81
300                               3        245,515       0.03      8.559       298        84.90       622       41.39
360                           3,796    806,346,560      96.58      8.370       357        79.61       625       42.76
----------------------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
----------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                               of          Date        Date        Gross    Remaining   Combined    Average     Back
Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
     Terms (months)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
----------------------------------------------------------------------------------------------------------------------

109--120                          7        496,311       0.06      8.252       117        64.85       631       41.82
169--180                        377     25,855,356       3.10     11.213       176        96.89       656       43.63
229--240                         24      1,990,559       0.24      8.449       237        75.91       634       42.81
289--300                          3        245,515       0.03      8.559       298        84.90       622       41.39
337--348                          1         73,261       0.01     10.240       348        99.97       615       32.30
349--360                      3,795    806,273,299      96.57      8.370       357        79.61       625       42.76
----------------------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
----------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date        Date        Gross    Remaining   Combined    Average     Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

10.01--15.00                       1        149,735       0.02      6.625       358        14.63       668       40.95
15.01--20.00                       4        430,264       0.05      8.793       356        18.12       550       39.23
20.01--25.00                       7      1,072,051       0.13      7.404       327        23.60       599       40.19
25.01--30.00                       7        789,898       0.09      7.722       328        27.12       614       43.67
30.01--35.00                       8      1,258,495       0.15      7.747       358        32.73       636       45.78
35.01--40.00                      19      3,272,611       0.39      8.493       357        38.59       594       40.35
40.01--45.00                      39      6,037,573       0.72      8.033       354        42.50       587       39.18
45.01--50.00                      48      7,555,973       0.90      8.191       357        47.94       602       38.86
50.01--55.00                      53      9,792,664       1.17      8.349       350        52.87       581       40.96
55.01--60.00                      72     11,824,393       1.42      7.977       350        57.94       593       41.92
60.01--65.00                     122     23,050,855       2.76      8.603       355        63.37       574       40.86
65.01--70.00                     192     37,536,122       4.50      8.710       356        68.87       581       42.02
70.01--75.00                     288     60,082,262       7.20      8.471       354        73.95       580       42.35
75.01--80.00                   1,759    408,554,737      48.93      8.082       357        79.84       643       43.26
80.01--85.00                     437     87,800,198      10.52      8.668       356        84.51       606       42.14
85.01--90.00                     449     98,133,687      11.75      8.684       356        89.55       627       43.00
90.01--95.00                     194     39,254,353       4.70      8.969       355        94.65       643       42.79
95.01--100.00                    508     38,338,430       4.59     10.898       248        99.87       652       43.50
-----------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
-----------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date        Date        Gross    Remaining   Combined    Average     Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 982    110,194,672      13.20      9.118       311        82.69       631       41.85
<= 3.500                          24      5,254,841       0.63      7.546       357        75.52       655       42.97
3.501--4.000                      18      4,504,815       0.54      7.217       357        79.02       671       44.19
4.001--4.500                      36      9,094,630       1.09      7.637       358        77.15       646       42.14
4.501--5.000                     116     30,291,468       3.63      8.038       357        79.70       650       41.88
5.001--5.500                     344     95,334,837      11.42      8.176       356        80.87       638       43.04
5.501--6.000                     576    122,740,938      14.70      8.386       357        79.77       622       42.83
6.001--6.500                     724    167,240,991      20.03      8.150       357        80.74       633       42.38
6.501--7.000                     459    103,652,115      12.41      8.366       357        77.75       617       42.61
7.001--7.500                     788    150,498,041      18.03      8.672       357        79.37       613       43.71
7.501--8.000                      86     21,804,371       2.61      8.951       357        79.99       613       43.62
8.001--8.500                      41     11,563,246       1.38      9.203       356        80.07       585       43.77
8.501--9.000                       8      2,094,826       0.25      9.457       357        91.91       635       47.62
9.001--9.500                       4        608,535       0.07     10.003       357        81.06       607       49.40
9.501--10.000                      1         55,974       0.01     12.999       358        80.00       593       42.33
-----------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
-----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.361

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                       % of
                                                     Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                               of          Date        Date        Gross    Remaining   Combined    Average     Back
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
        Rates (%)             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982    110,194,672      13.20      9.118       311        82.69       631       41.85
5.501--6.000                     11      3,539,485       0.42      7.012       354        77.92       655       42.51
6.001--6.500                     48     13,346,398       1.60      6.478       357        77.24       653       42.29
6.501--7.000                    178     47,361,242       5.67      6.864       356        77.63       653       43.81
7.001--7.500                    339     89,903,723      10.77      7.318       357        78.90       653       42.42
7.501--8.000                    672    172,884,806      20.71      7.815       357        79.31       642       43.23
8.001--8.500                    468    110,806,183      13.27      8.288       357        80.04       631       42.76
8.501--9.000                    568    118,049,761      14.14      8.798       357        79.54       612       42.72
9.001--9.500                    323     66,980,184       8.02      9.289       357        81.07       607       43.27
9.501--10.000                   335     60,876,415       7.29      9.794       357        81.25       579       43.37
10.001 -10.500                  134     20,121,968       2.41     10.291       357        83.25       573       42.89
10.501--11.000                  104     14,825,160       1.78     10.774       357        83.34       574       41.26
11.001--11.500                   25      3,609,194       0.43     11.207       357        72.33       548       39.21
11.501--12.000                   10      1,308,419       0.16     11.772       358        74.81       535       39.31
12.001--12.500                    4        596,608       0.07     12.107       355        86.35       598       41.67
12.501--13.000                    6        530,084       0.06     12.838       358        90.78       654       39.35
----------------------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.349

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                         of          Date         Date       Gross    Remaining   Combined    Average     Back
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          982    110,194,672      13.20      9.118       311        82.69       631       41.85
<= 12.500                                  54     17,265,869       2.07      6.913       356        76.07       648       43.68
12.501--13.000                             84     23,768,286       2.85      7.531       356        80.70       643       42.87
13.001--13.500                            104     29,105,055       3.49      7.372       357        79.07       641       42.84
13.501--14.000                            250     64,577,386       7.73      7.435       357        77.48       638       43.69
14.001--14.500                            346     90,057,163      10.79      7.562       357        79.18       650       42.43
14.501--15.000                            619    154,283,391      18.48      7.944       357        79.26       640       43.13
15.001--15.500                            430     98,102,008      11.75      8.415       357        80.11       628       42.56
15.501--16.000                            519    104,486,319      12.51      8.868       357        79.87       610       42.75
16.001--16.500                            280     56,049,693       6.71      9.320       357        81.65       610       43.28
16.501--17.000                            296     52,923,224       6.34      9.824       357        81.01       576       43.52
17.001--17.500                            115     17,008,201       2.04     10.313       357        82.49       567       42.88
17.501--18.000                             92     12,477,295       1.49     10.838       357        83.97       572       40.53
18.001--18.500                             21      2,692,761       0.32     11.216       357        76.37       546       40.41
18.501--19.000                              5        521,670       0.06     11.794       358        90.79       563       41.85
19.001--19.500                              4        596,608       0.07     12.107       355        86.35       598       41.67
19.501--20.000                              5        479,972       0.06     12.870       358        91.39       666       39.57
23.501--24.000                              1        344,727       0.04      8.350       356        80.00       596       39.16
--------------------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071

INITIAL PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                         of          Date         Date       Gross    Remaining   Combined    Average     Back
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      Initial Periodic Cap (%)          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          982    110,194,672      13.20      9.118       311        82.69       631      41.85
1.000                                       4        977,783       0.12      8.117       357        86.17       632      41.66
1.500                                     536    113,700,175      13.62      8.478       357        78.71       621      42.35
2.000                                     759    191,102,926      22.89      8.244       357        79.43       630      42.28
3.000                                   1,922    418,202,620      50.09      8.379       357        80.14       624      43.38
5.000                                       2        477,439       0.06      8.188       357        83.29       646      44.81
6.000                                       2        278,686       0.03      7.752       358        80.00       645      46.13
--------------------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626      42.79
--------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.501

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                         of          Date         Date       Gross    Remaining   Combined    Average     Back
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
    Subsequent Periodic Cap (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          982    110,194,672      13.20      9.118       311        82.69       631       41.85
1.000                                     929    226,572,420      27.14      8.360       356        80.12       624       42.55
1.500                                   2,280    493,139,917      59.06      8.360       357        79.62       626       43.08
2.000                                      16      5,027,292       0.60      8.097       352        74.50       646       44.37
--------------------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.347

MONTHS TO NEXT RATE ADJUSTMENT



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                         of          Date         Date       Gross    Remaining   Combined    Average     Back
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
   Months to Next Rate Adjustment       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          982    110,194,672      13.20     9.118        311        82.69       631       41.85
4                                           2        542,838       0.07     7.742        352        84.95       602       47.25
13                                          1        148,392       0.02     7.715        349        80.00       688       41.18
14                                         12      3,494,254       0.42     7.277        350        79.98       671       44.24
15                                         26      6,584,989       0.79     7.927        351        77.50       634       42.82
16                                         40      8,436,065       1.01     8.076        352        78.89       616       43.70
17                                         56     14,549,041       1.74     8.065        353        81.10       632       43.46
18                                         72     16,774,090       2.01     8.271        354        80.07       619       41.62
19                                        152     38,763,362       4.64     8.221        355        79.87       627       42.87
20                                        382     98,346,319      11.78     8.264        356        79.57       628       42.41
21                                        602    145,734,452      17.45     8.367        357        79.81       627       43.67
22                                        927    210,101,065      25.16     8.349        358        79.87       631       42.69
23                                        148     31,223,519       3.74     8.422        359        80.42       622       41.82
24                                          2        542,000       0.06     8.514        360        75.23       609       44.86
26                                          1        343,599       0.04     7.350        350        79.45       609       43.37
27                                          1        620,450       0.07     8.750        351        80.00       629       47.27
28                                          3        449,585       0.05     8.433        352        82.12       617       32.31
29                                          1         67,233       0.01     8.940        353        90.00       657       35.39
30                                          7      1,092,442       0.13     8.513        354        83.14       584       38.88
31                                         21      4,137,727       0.50     8.794        355        80.81       584       41.15
32                                         66     13,235,533       1.59     8.445        356        79.05       618       43.53
33                                        285     51,260,009       6.14     8.601        357        79.96       603       43.56
34                                        379     70,994,603       8.50     8.550        358        79.19       618       43.15
35                                         20      3,411,339       0.41     8.606        359        75.77       600       39.86
54                                          1        163,942       0.02     6.950        354        55.00       686       39.68
55                                          2        750,831       0.09     8.819        355        76.48       578       42.63
56                                          1        125,744       0.02     9.400        356        86.90       605       44.39
57                                          4        794,402       0.10     8.340        357        84.54       678       45.31
58                                          7      1,607,840       0.19     6.997        358        73.88       663       42.04
59                                          4        443,963       0.05     8.500        359        80.83       699       39.91
--------------------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00     8.458        351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                         of          Date         Date       Gross    Remaining   Combined    Average     Back
     Geographic Distribution of       Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
        Mortgaged Properties            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

California                                915    271,051,190     32.46      8.166        347        80.11       641       43.43
Florida                                   666    119,157,019     14.27      8.545        350        79.54       622       42.90
Illinois                                  323     57,253,943      6.86      8.729        351        81.62       622       43.86
New York                                  139     41,732,227      5.00      8.075        356        76.69       650       42.92
Arizona                                   175     31,983,040      3.83      8.512        353        78.87       612       42.12
Texas                                     267     26,645,529      3.19      8.714        343        81.65       615       40.49
Maryland                                  115     25,717,947      3.08      8.335        356        78.32       613       41.93
New Jersey                                 78     20,673,940      2.48      8.901        357        77.01       607       43.48
Massachusetts                              90     20,615,447      2.47      8.671        355        81.80       617       44.17
Nevada                                     93     19,876,786      2.38      8.152        350        81.56       636       43.93
Virginia                                   99     17,526,643      2.10      8.716        353        78.29       608       43.44
Washington                                 87     16,283,977      1.95      8.239        351        80.51       606       42.60
Pennsylvania                              125     15,389,417      1.84      8.798        355        81.23       608       40.06
Rhode Island                               74     15,231,725      1.82      8.545        357        79.23       617       42.97
Connecticut                                74     14,903,474      1.78      8.554        356        78.40       616       44.29
Other                                     887    120,891,996     14.48      8.852        354        82.05       613       41.06
--------------------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301    100.00      8.458        351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

OCCUPANCY



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                         of          Date         Date       Gross    Remaining   Combined    Average     Back
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
             Occupancy                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

Primary                                 3,860    772,614,335      92.54     8.414        350        79.97       624       42.96
Investment                                294     49,653,254       5.95     9.026        356        81.90       652       39.87
Second Home                                53     12,666,712       1.52     8.902        356        82.77       652       43.72
--------------------------------------------------------------------------------------------------------------------------------
Total:                                  4,207    834,934,301     100.00     8.458        351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of          Date        Date        Gross    Remaining   Combined    Average     Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
     Property Type           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------

Single Family Residence      3,421    651,774,116      78.06      8.460       351        80.29       622       42.86
2-4 Family                     300     78,056,397       9.35      8.502       352        78.31       645       42.95
Planned Unit Development       216     53,080,620       6.36      8.308       352        80.00       628       41.86
Condo                          270     52,023,168       6.23      8.519       350        80.96       641       42.52
---------------------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
---------------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of          Date        Date        Gross    Remaining   Combined    Average     Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      Loan Purpose           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------

Refinance--Cashout           2,110    437,916,030      52.45      8.465       355        77.84       603       42.40
Purchase                     1,871    357,138,841      42.77      8.464       346        82.85       656       43.36
Refinance--Rate Term           226     39,879,430       4.78      8.331       352        80.94       614       41.84
---------------------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of          Date        Date        Gross    Remaining   Combined    Average     Back
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
   Documentation Level       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------

Stated Documentation         2,137    456,501,438      54.68      8.630       350        80.07       641       43.49
Full Documentation           1,897    342,451,104      41.02      8.246       353        80.02       607       42.19
Limited Documentation          173     35,981,758       4.31      8.300       347        81.92       619       39.66
---------------------------------------------------------------------------------------------------------------------
Total:                       4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

CREDIT SCORE



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of          Date        Date        Gross    Remaining   Combined    Average     Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
     Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------

500--524                      279     46,441,483       5.56      9.545       356        71.85       512       42.66
525--549                      314     53,891,969       6.45      9.290       357        73.26       537       41.82
550--574                      349     62,693,438       7.51      8.943       357        77.64       562       42.39
575--599                      457     85,015,577      10.18      8.664       354        80.25       588       42.59
600--624                      736    149,312,831      17.88      8.344       351        81.30       613       42.50
625--649                      818    160,006,052      19.16      8.336       348        81.71       636       43.03
650--674                      549    117,558,718      14.08      8.166       348        81.69       661       43.52
675--699                      336     75,361,493       9.03      8.038       347        81.41       686       43.01
700--724                      169     38,491,751       4.61      7.991       347        82.65       710       42.74
725--749                      106     22,546,021       2.70      8.079       352        83.03       735       43.07
750--774                       60     14,673,824       1.76      7.960       351        81.70       760       42.32
775--799                       28      7,965,284       0.95      7.705       345        80.53       783       42.76
800 +                           6        975,860       0.12      7.833       323        86.00       807       45.68
--------------------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

PREPAYMENT PENALTY TERM



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of          Date        Date        Gross    Remaining   Combined    Average     Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------

0                           1,199    216,979,403      25.99      8.805       351        80.89       624       42.82
6                              15      3,489,711       0.42      8.529       357        77.65       639       43.09
12                            237     68,168,035       8.16      8.285       354        78.59       646       42.90
24                          1,682    372,728,763      44.64      8.235       353        80.10       628       42.87
30                              7      1,406,947       0.17      9.452       357        82.36       609       46.23
36                          1,007    164,152,599      19.66      8.550       344        80.08       619       42.54
48                              1        145,964       0.02      8.500       359        36.50       529       43.94
60                             59      7,862,880       0.94      8.849       353        76.52       580       41.38
--------------------------------------------------------------------------------------------------------------------
Total:                      4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET AGGREGATE WITH DTI                                       4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

LIEN POSITION



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                        of          Date        Date        Gross    Remaining   Combined    Average     Back
       Lien          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
     Position          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------

1st Lien               3,747    805,760,512      96.51      8.349       356        79.43       625       42.75
2nd Lien                 460     29,173,789       3.49     11.483       208        99.52       657       43.71
---------------------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
---------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                        of          Date        Date        Gross    Remaining   Combined    Average     Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------

0                      3,676    672,426,295      80.54      8.626       349        80.02       618       42.67
24                         2        431,400       0.05      7.225       358        79.45       606       29.07
36                         3        639,500       0.08      7.938       358        77.28       631       39.93
60                       521    160,349,981      19.21      7.764       357        80.61       659       43.32
120                        5      1,087,125       0.13      7.638       357        81.43       643       41.93
---------------------------------------------------------------------------------------------------------------
Total:                 4,207    834,934,301     100.00      8.458       351        80.13       626       42.79
---------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     12



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 3,225
Aggregate Principal Balance ($): 724,739,629
Weighted Average Current Mortgage Rate (%): 8.358
Non-Zero Weighted Average Margin (%): 6.361
Non-Zero Weighted Average Maximum Rate (%): 15.071
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 79.74
% First Liens: 100.00
% Owner Occupied: 92.21
% Purchase: 44.36
% Full Doc: 39.64
Non-Zero Weighted Average Credit Score: 625

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                      of         Date          Date      Gross     Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             408     84,310,574      11.63      8.524       357        78.30      620
Chapel                  18      3,945,752       0.54      7.696       351        76.89      617
Encore                 265     71,604,542       9.88      8.258       356        78.97      629
First Banc              49     11,076,143       1.53      7.975       355        79.03      617
First Horizon          161     27,142,139       3.75      9.248       358        84.48      623
First NLC            1,327    276,981,873      38.22      8.358       357        79.92      625
Flex Point              17      4,269,818       0.59      9.085       357        70.07      597
Funding America         21      3,893,112       0.54      8.063       355        79.30      636
Lenders Direct          32      7,400,093       1.02      8.162       354        79.47      616
Lime Financial          39     11,246,876       1.55      8.118       356        82.89      638
Mandalay                14      3,745,179       0.52      7.594       353        79.45      658
Master Financial       139     42,094,527       5.81      8.136       355        82.15      636
Maxim                    9      1,459,404       0.20      8.650       357        81.82      595
New Century            566    134,359,389      18.54      8.255       358        80.05      631
Quick Loan              29      7,485,064       1.03      8.294       356        72.81      587
Rose Mortgage          131     33,725,147       4.65      8.478       357        77.80      610
--------------------------------------------------------------------------------------------------
Total:               3,225    724,739,629     100.00      8.358       357        79.74      625
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                              % of
                                                                            Mortgage
                                                                            Pool by
                                                               Aggregate   Aggregate  Weighted   Weighted  Weighted
                                                     Number     Cut-off     Cut-off   Average    Average    Average  Weighted
                                                       of        Date         Date     Gross    Remaining  Combined  Average
                                                    Mortgage   Principal   Principal  Interest     Term    Original    FICO
             Product with IO term                    Loans    Balance ($)   Balance   Rate (%)   (months)     LTV     Score
-----------------------------------------------------------------------------------------------------------------------------

ARM--2 Year/6 Month Balloon 30/40                       789   213,147,286     29.41     8.242      357       80.12      626
ARM--2 Year/6 Month Balloon 30/50                         1       203,935      0.03     8.450      357       80.00      625
ARM--3 Year/6 Month Balloon 30/40                       211    44,732,369      6.17     8.383      357       80.00      616
ARM--1 Year/6 Month                                       2       542,838      0.07     7.742      352       84.95      602
ARM--2 Year/6 Month                                   1,203   227,698,738     31.42     8.687      357       79.02      614
ARM--3 Year/6 Month                                     488    77,786,208     10.73     8.903      357       78.83      592
ARM--5 Year/6 Month                                      12     1,990,884      0.27     8.472      357       76.09      631
Dual Amort--10/40--2 Year/6 Month                         3       941,351      0.13     7.192      352       75.59      631
Interest Only ARM--2 Year/6 Month--24 mo. IO term         2       431,400      0.06     7.225      358       79.45      606
Interest Only ARM--3 Year/6 Month--36 mo. IO term         3       639,500      0.09     7.938      358       77.28      631
Interest Only ARM--2 Year/6 Month--60 mo. IO term       421   132,088,152     18.23     7.780      356       80.77      658
Interest Only ARM--3 Year/6 Month--60 mo. IO term        81    22,362,444      3.09     7.772      357       80.65      666
Interest Only ARM--5 Year/6 Month--60 mo. IO term         5     1,418,400      0.20     6.921      358       76.10      686
Interest Only ARM--2 Year/6 Month--120 mo. IO term        1       186,686      0.03     8.000      358       80.00      641
Interest Only ARM--3 Year/6 Month--120 mo. IO term        1        92,000      0.01     7.250      359       80.00      652
Interest Only ARM--5 Year/6 Month--120 mo. IO term        2       477,439      0.07     8.188      357       83.29      646
-----------------------------------------------------------------------------------------------------------------------------
Total:                                                3,225   724,739,629    100.00     8.358      357       79.74      625
-----------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              4      1,142,614       0.16      5.897       356        68.44       662
6.000--6.999                            205     55,229,672       7.62      6.721       357        77.64       656
7.000--7.999                          1,006    263,536,813      36.36      7.622       357        79.18       646
8.000--8.999                          1,040    231,170,876      31.90      8.530       357        79.68       621
9.000--9.999                            677    131,077,155      18.09      9.507       357        81.22       594
10.000--10.999                          246     36,305,520       5.01     10.473       357        83.11       573
11.000--11.999                           37      5,150,288       0.71     11.341       357        73.04       547
12.000--12.999                           10      1,126,692       0.16     12.451       356        88.43       624
-------------------------------------------------------------------------------------------------------------------
Total:                                3,225    724,739,629     100.00      8.358       357        79.74       625
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.999
Weighted Average: 8.358

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                         26      1,129,997       0.16      9.875       357        77.14       603
50,001--75,000                        166     10,675,774       1.47      9.451       357        79.34       597
75,001--100,000                       248     21,791,227       3.01      9.033       357        80.17       603
100,001--125,000                      329     37,270,483       5.14      8.819       357        78.18       602
125,001--150,000                      330     45,620,050       6.29      8.712       357        77.51       607
150,001--175,000                      295     47,803,521       6.60      8.665       357        77.48       606
175,001--200,000                      311     58,457,454       8.07      8.470       357        78.51       617
200,001--225,000                      260     55,321,257       7.63      8.397       357        79.90       626
225,001--250,000                      216     51,237,665       7.07      8.350       357        79.59       621
250,001--275,000                      176     46,182,624       6.37      8.192       357        80.20       619
275,001--300,000                      149     42,857,347       5.91      8.198       357        79.29       622
300,001--325,000                      121     37,796,406       5.22      8.116       357        79.30       624
325,001--350,000                      102     34,432,588       4.75      8.313       357        80.62       630
350,001--375,000                       69     24,918,701       3.44      8.151       357        79.38       650
375,001--400,000                       81     31,525,122       4.35      8.113       357        81.30       643
400,001--425,000                       63     26,007,985       3.59      8.164       356        81.60       635
425,001--450,000                       53     23,271,356       3.21      7.977       357        80.79       630
450,001--475,000                       38     17,530,723       2.42      8.035       357        80.71       651
475,001--500,000                       55     26,948,413       3.72      8.071       356        80.32       646
500,001--750,000                      127     75,398,346      10.40      8.119       357        81.77       644
750,001--1,000,000                     10      8,562,593       1.18      8.240       356        82.32       670
-----------------------------------------------------------------------------------------------------------------
Total:                              3,225    724,739,629     100.00      8.358       357        79.74       625
-----------------------------------------------------------------------------------------------------------------


Minimum: 31,973
Maximum: 1,000,000
Average: 224,725

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                   of         Date          Date      Gross     Remaining   Combined   Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

360                               3,225    724,739,629     100.00      8.358       357        79.74      625
---------------------------------------------------------------------------------------------------------------
Total:                            3,225    724,739,629     100.00      8.358       357        79.74      625
---------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629

--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted   Weighted    Weighted
                                    Number      Cut-off      Cut-off     Average   Average      Average   Weighted
                                      of         Date          Date       Gross    Remaining    Combined   Average
Range of Stated Remaining Terms    Mortgage    Principal    Principal   Interest     Term      Original     FICO
             (months)                Loans    Balance ($)    Balance    Rate (%)   (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

349--360                             3,225    724,739,629     100.00      8.358       357        79.74       625
------------------------------------------------------------------------------------------------------------------
Total:                               3,225    724,739,629     100.00      8.358       357        79.74       625
------------------------------------------------------------------------------------------------------------------


Minimum: 349
Maximum: 360
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                      of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV     Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------

10.01--15.00                             1        149,735       0.02      6.625       358        14.63       668
15.01--20.00                             3        403,988       0.06      8.598       356        18.20       552
20.01--25.00                             3        580,110       0.08      7.627       357        24.25       544
25.01--30.00                             5        565,846       0.08      7.952       356        27.00       592
30.01--35.00                             3        438,107       0.06      8.734       358        33.17       591
35.01--40.00                            15      2,565,767       0.35      8.437       357        38.94       595
40.01--45.00                            27      4,403,343       0.61      8.175       357        42.63       576
45.01--50.00                            34      5,461,675       0.75      8.379       357        47.85       591
50.01--55.00                            47      8,902,927       1.23      8.328       357        52.83       580
55.01--60.00                            51      8,593,639       1.19      8.201       357        58.00       582
60.01--65.00                           100     20,057,543       2.77      8.587       357        63.35       573
65.01--70.00                           153     31,059,468       4.29      8.791       357        68.98       571
70.01--75.00                           233     52,286,510       7.21      8.522       357        73.99       576
75.01--80.00                         1,603    383,107,200      52.86      8.075       357        79.85       644
80.01--85.00                           360     75,836,493      10.46      8.708       357        84.55       604
85.01--90.00                           383     87,131,156      12.02      8.691       357        89.58       627
90.01--95.00                           157     35,089,730       4.84      8.976       357        94.71       645
95.01--100.00                           47      8,106,395       1.12      9.250       357        99.54       649
------------------------------------------------------------------------------------------------------------------
Total:                               3,225    724,739,629     100.00      8.358       357        79.74       625
------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 79.74

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

<= 3.500                              24      5,254,841       0.73       7.546      357        75.52       655
3.501--4.000                          18      4,504,815       0.62       7.217      357        79.02       671
4.001--4.500                          36      9,094,630       1.25       7.637      358        77.15       646
4.501--5.000                         116     30,291,468       4.18       8.038      357        79.70       650
5.001--5.500                         344     95,334,837      13.15       8.176      356        80.87       638
5.501--6.000                         576    122,740,938      16.94       8.386      357        79.77       622
6.001--6.500                         724    167,240,991      23.08       8.150      357        80.74       633
6.501--7.000                         459    103,652,115      14.30       8.366      357        77.75       617
7.001--7.500                         788    150,498,041      20.77       8.672      357        79.37       613
7.501--8.000                          86     21,804,371       3.01       8.951      357        79.99       613
8.001--8.500                          41     11,563,246       1.60       9.203      356        80.07       585
8.501--9.000                           8      2,094,826       0.29       9.457      357        91.91       635
9.001--9.500                           4        608,535       0.08      10.003      357        81.06       607
9.501--10.000                          1         55,974       0.01      12.999      358        80.00       593
----------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00       8.358      357        79.74       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.361

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined   Average
 Range of Minimum Mortgage       Mortgage    Principal     Principal  Interest      Term     Original     FICO
          Rates (%)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

5.501--6.000                          11      3,539,485       0.49       7.012      354        77.92       655
6.001--6.500                          48     13,346,398       1.84       6.478      357        77.24       653
6.501--7.000                         178     47,361,242       6.53       6.864      356        77.63       653
7.001--7.500                         339     89,903,723      12.40       7.318      357        78.90       653
7.501--8.000                         672    172,884,806      23.85       7.815      357        79.31       642
8.001--8.500                         468    110,806,183      15.29       8.288      357        80.04       631
8.501--9.000                         568    118,049,761      16.29       8.798      357        79.54       612
9.001--9.500                         323     66,980,184       9.24       9.289      357        81.07       607
9.501--10.000                        335     60,876,415       8.40       9.794      357        81.25       579
10.001 -10.500                       134     20,121,968       2.78      10.291      357        83.25       573
10.501--11.000                       104     14,825,160       2.05      10.774      357        83.34       574
11.001--11.500                        25      3,609,194       0.50      11.207      357        72.33       548
11.501--12.000                        10      1,308,419       0.18      11.772      358        74.81       535
12.001--12.500                         4        596,608       0.08      12.107      355        86.35       598
12.501--13.000                         6        530,084       0.07      12.838      358        90.78       654
----------------------------------------------------------------------------------------------------------------
Total:                             3,225    724,739,629     100.00       8.358      357        79.74       625
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.349

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                      of         Date          Date      Gross     Remaining   Combined   Average
 Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------

<= 12.500                               54     17,265,869       2.38      6.913       356        76.07       648
12.501--13.000                          84     23,768,286       3.28      7.531       356        80.70       643
13.001--13.500                         104     29,105,055       4.02      7.372       357        79.07       641
13.501--14.000                         250     64,577,386       8.91      7.435       357        77.48       638
14.001--14.500                         346     90,057,163      12.43      7.562       357        79.18       650
14.501--15.000                         619    154,283,391      21.29      7.944       357        79.26       640
15.001--15.500                         430     98,102,008      13.54      8.415       357        80.11       628
15.501--16.000                         519    104,486,319      14.42      8.868       357        79.87       610
16.001--16.500                         280     56,049,693       7.73      9.320       357        81.65       610
16.501--17.000                         296     52,923,224       7.30      9.824       357        81.01       576
17.001--17.500                         115     17,008,201       2.35     10.313       357        82.49       567
17.501--18.000                          92     12,477,295       1.72     10.838       357        83.97       572
18.001--18.500                          21      2,692,761       0.37     11.216       357        76.37       546
18.501--19.000                           5        521,670       0.07     11.794       358        90.79       563
19.001--19.500                           4        596,608       0.08     12.107       355        86.35       598
19.501--20.000                           5        479,972       0.07     12.870       358        91.39       666
23.501--24.000                           1        344,727       0.05      8.350       356        80.00       596
------------------------------------------------------------------------------------------------------------------
Total:                               3,225    724,739,629     100.00      8.358       357        79.74       625
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.071

INITIAL PERIODIC CAP (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date          Date      Gross     Remaining   Combined   Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------

1.000                                    4        977,783       0.13      8.117       357        86.17       632
1.500                                  536    113,700,175      15.69      8.478       357        78.71       621
2.000                                  759    191,102,926      26.37      8.244       357        79.43       630
3.000                                1,922    418,202,620      57.70      8.379       357        80.14       624
5.000                                    2        477,439       0.07      8.188       357        83.29       646
6.000                                    2        278,686       0.04      7.752       358        80.00       645
------------------------------------------------------------------------------------------------------------------
Total:                               3,225    724,739,629     100.00      8.358       357        79.74       625
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.501

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

1.000                                     929    226,572,420      31.26       8.360      356         80.12       624
1.500                                   2,280    493,139,917      68.04       8.360      357         79.62       626
2.000                                      16      5,027,292       0.69       8.097      352         74.50       646
----------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00       8.358      357         79.74       625
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.347

MONTHS TO NEXT RATE ADJUSTMENT



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Months to Next Rate Adjustment          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

4                                          2         542,838       0.07      7.742       352        84.95       602
13                                         1         148,392       0.02      7.715       349        80.00       688
14                                        12       3,494,254       0.48      7.277       350        79.98       671
15                                        26       6,584,989       0.91      7.927       351        77.50       634
16                                        40       8,436,065       1.16      8.076       352        78.89       616
17                                        56      14,549,041       2.01      8.065       353        81.10       632
18                                        72      16,774,090       2.31      8.271       354        80.07       619
19                                       152      38,763,362       5.35      8.221       355        79.87       627
20                                       382      98,346,319      13.57      8.264       356        79.57       628
21                                       602     145,734,452      20.11      8.367       357        79.81       627
22                                       927     210,101,065      28.99      8.349       358        79.87       631
23                                       148      31,223,519       4.31      8.422       359        80.42       622
24                                         2         542,000       0.07      8.514       360        75.23       609
26                                         1         343,599       0.05      7.350       350        79.45       609
27                                         1         620,450       0.09      8.750       351        80.00       629
28                                         3         449,585       0.06      8.433       352        82.12       617
29                                         1          67,233       0.01      8.940       353        90.00       657
30                                         7       1,092,442       0.15      8.513       354        83.14       584
31                                        21       4,137,727       0.57      8.794       355        80.81       584
32                                        66      13,235,533       1.83      8.445       356        79.05       618
33                                       285      51,260,009       7.07      8.601       357        79.96       603
34                                       379      70,994,603       9.80      8.550       358        79.19       618
35                                        20       3,411,339       0.47      8.606       359        75.77       600
54                                         1         163,942       0.02      6.950       354        55.00       686
55                                         2         750,831       0.10      8.819       355        76.48       578
56                                         1         125,744       0.02      9.400       356        86.90       605
57                                         4         794,402       0.11      8.340       357        84.54       678
58                                         7       1,607,840       0.22      6.997       358        73.88       663
59                                         4         443,963       0.06      8.500       359        80.83       699
---------------------------------------------------------------------------------------------------------------------
Total:                                 3,225     724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                        of          Date         Date        Gross    Remaining   Combined    Average
Geographic Distribution of            Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Mortgaged Properties                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

California                                697    244,590,126      33.75      8.003       357        79.41       640
Florida                                   514    104,549,777      14.43      8.441       357        79.12       621
Illinois                                  253     50,106,732       6.91      8.630       357        80.99       623
New York                                   98     31,213,102       4.31      8.206       357        78.64       644
Arizona                                   149     29,587,311       4.08      8.469       357        78.81       611
Maryland                                  100     23,130,412       3.19      8.331       357        77.79       607
Nevada                                     74     17,800,903       2.46      8.059       357        80.44       634
Massachusetts                              74     17,750,531       2.45      8.559       357        81.79       615
New Jersey                                 66     17,510,499       2.42      8.869       357        77.51       607
Texas                                     133     16,077,679       2.22      8.719       357        81.42       612
Virginia                                   76     14,847,762       2.05      8.623       357        78.05       606
Washington                                 71     14,646,314       2.02      8.124       357        79.78       603
Rhode Island                               61     13,677,293       1.89      8.435       357        78.43       613
Connecticut                                60     12,828,884       1.77      8.374       357        78.58       617
Pennsylvania                               96     12,687,901       1.75      8.798       357        81.81       610
Other                                     703    103,734,406      14.31      8.804       357        81.53       614
---------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 49

OCCUPANCY



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Occupancy                               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Primary                                 2,929    668,303,638      92.21      8.300       357        79.50       623
Investment                                247     44,066,226       6.08      9.088       357        82.56       653
Second Home                                49     12,369,765       1.71      8.880       357        82.64       652
---------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                        of          Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Property Type                           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Single Family Residence                 2,607    562,545,512      77.62      8.361       357        79.86      622
2-4 Family                                226     65,792,368       9.08      8.463       357        78.37      639
Planned Unit Development                  175     48,715,079       6.72      8.195       357        79.59      629
Condo                                     217     47,686,670       6.58      8.345       357        80.46      643
---------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00      8.358       357        79.74      625
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Loan Purpose                            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                      1,670    373,737,594      51.57      8.475       357        78.11       600
Purchase                                1,403    321,509,665      44.36      8.223       357        81.58       656
Refinance--Rate Term                      152     29,492,370       4.07      8.352       357        80.37       611
---------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Documentation Level                     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Stated Documentation                    1,651    406,578,469      56.10      8.490       357        79.56      640
Full Documentation                      1,453    287,301,845      39.64      8.193       357        79.89      606
Limited Documentation                     121     30,859,316       4.26      8.156       356        80.78      615
---------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00      8.358       357        79.74      625
---------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                        of          Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Credit Score                            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

500--524                                  234     41,082,386       5.67      9.519       357        71.65       512
525--549                                  261     46,718,267       6.45      9.237       357        72.94       537
550--574                                  302     56,993,584       7.86      8.922       357        77.81       562
575--599                                  375     75,322,025      10.39      8.624       357        80.21       587
600--624                                  566    130,838,070      18.05      8.222       357        80.85       612
625--649                                  572    136,342,873      18.81      8.160       357        80.99       636
650--674                                  393     99,560,241      13.74      8.014       357        81.21       661
675--699                                  240     64,118,934       8.85      7.918       357        81.08       686
700--724                                  127     33,687,970       4.65      7.902       357        82.28       710
725--749                                   81     19,566,410       2.70      8.035       357        83.15       736
750--774                                   50     13,265,495       1.83      7.863       357        81.37       760
775--799                                   21      6,500,668       0.90      7.646       357        80.18       783
800 +                                       3        742,707       0.10      7.174       354        81.60       807
---------------------------------------------------------------------------------------------------------------------
Total:                                  3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 625

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET ARM                                                      3,225 records
                                                           Balance: $724,739,629
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             873    185,995,142      25.66      8.707       357        80.30       623
6                              15      3,489,711       0.48      8.529       357        77.65       639
12                            190     57,016,030       7.87      8.341       357        79.78       642
24                          1,541    360,737,730      49.77      8.156       357        79.61       627
30                              5        944,477       0.13      9.561       357        88.20       619
36                            580    113,658,512      15.68      8.410       357        79.29       615
60                             21      2,898,028       0.40      8.813       358        77.32       593
---------------------------------------------------------------------------------------------------------
Total:                      3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                    3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------
Total:                      3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Interest Only Term        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                           2,709    567,043,608      78.24      8.521       357        79.48       616
24                              2        431,400       0.06      7.225       358        79.45       606
36                              3        639,500       0.09      7.938       358        77.28       631
60                            507    155,868,996      21.51      7.771       357        80.71       659
120                             4        756,125       0.10      8.027       358        82.08       646
---------------------------------------------------------------------------------------------------------
Total:                      3,225    724,739,629     100.00      8.358       357        79.74       625
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

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trading desks that may deal as principal in or own or act as market maker or
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Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

  IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BACK DTI TABLE                                           4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

DEBT TO INCOME RATIO



                                                                       % of
                                                                     Mortgage
                                                                      Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of         Date          Date       Gross    Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Debt to Income Ratio          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------

0.00--9.99                           32      6,156,611       0.74      8.395       350       76.56        653
10.00--19.99                         74     10,944,782       1.31      8.376       355       75.47        610
20.00--29.99                        303     47,700,066       5.71      8.580       353       79.65        618
30.00--39.99                        892    159,702,619      19.13      8.436       352       78.95        620
40.00--49.99                      2,509    528,182,334      63.26      8.460       350       80.77        631
50.00--59.99                        397     82,247,890       9.85      8.435       353       79.51        611
-------------------------------------------------------------------------------------------------------------
Total:                            4,207    834,934,301     100.00      8.458       351       80.13        626
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.78
Maximum: 59.92
Non-Zero Weighted Average: 42.79

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
registered under the U.S. Securities Act of 1933, as amended, and, if not, may
not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors.

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                            ASSET-BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,422
Aggregate Principal Balance ($): 296,723,578
Weighted Average Current Mortgage Rate (%): 8.506
Non-Zero Weighted Average Margin (%): 6.270
Non-Zero Weighted Average Maximum Rate (%): 15.012
Weighted Average Stated Original Term (months): 345
Weighted Average Stated Remaining Term (months): 342
Weighted Average Combined Original LTV (%): 81.57
% First Liens: 92.02
% Owner Occupied: 94.81
% Purchase: 45.08
% Full Doc: 38.39
Non-Zero Weighted Average Credit Score: 627

ORIGINATOR



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Accredited                              188     42,593,702      14.35      8.494       357        77.96       620
Chapel                                    3        409,214       0.14      8.730       331        80.50       637
Encore                                   92     27,614,480       9.31      8.265       356        81.85       627
First Banc                               23      2,413,984       0.81      9.476       285        85.95       602
First Horizon                            11      1,817,204       0.61      9.118       358        83.93       620
First NLC                               607    107,885,496      36.36      8.488       335        82.86       634
Flex Point                                6      1,897,464       0.64      8.957       357        75.56       589
Funding America                           2        484,962       0.16      8.724       355        82.49       595
Lenders Direct                           23      3,214,261       1.08      9.041       292        82.26       628
Lime Financial                           25      3,622,328       1.22      9.078       308        88.15       634
Mandalay                                 23      3,066,211       1.03      9.004       271        87.67       664
Master Financial                        122     24,144,749       8.14      8.926       313        85.55       632
Maxim                                     8      1,040,454       0.35      9.334       321        84.95       590
New Century                             259     68,007,429      22.92      8.390       358        79.61       623
Rose Mortgage                            30      8,511,642       2.87      8.052       357        80.68       601
-------------------------------------------------------------------------------------------------------------------
Total:                                1,422    296,723,578     100.00      8.506       342        81.57       627
-------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average    Weighted
                                       of         Date          Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------------

Balloon--15/30                          354     23,914,670       8.06     11.437       176        99.11       657
Balloon--30/40                           67     14,725,319       4.96      7.933       357        78.80       627
ARM--2 Year/6 Month Balloon 30/40       789    213,147,286      71.83      8.242       357        80.12       626
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.07      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40       211     44,732,369      15.08      8.383       357        80.00       616
--------------------------------------------------------------------------------------------------------------------
Total:                                1,422    296,723,578     100.00      8.506       342        81.57       627
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        270,882       0.09      5.990       350        90.00       614
6.000--6.999                             85     24,690,750       8.32      6.690       357        76.48       661
7.000--7.999                            389    108,096,462      36.43      7.665       357        79.51       638
8.000--8.999                            363     89,554,651      30.18      8.534       356        80.18       617
9.000--9.999                            185     40,567,415      13.67      9.536       352        83.14       602
10.000--10.999                          144     15,826,688       5.33     10.533       288        88.92       614
11.000--11.999                          160     12,333,383       4.16     11.573       198        97.08       638
12.000--12.999                           68      4,105,005       1.38     12.400       176        99.83       635
13.000--13.999                           26      1,218,374       0.41     13.366       176       100.00       625
14.000--14.999                            1         59,969       0.02     14.240       177       100.00       627
-------------------------------------------------------------------------------------------------------------------
Total:                                1,422    296,723,578     100.00      8.506       342        81.57       627
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 14.240
Weighted Average: 8.506

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Balances ($)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

1--25,000                                13        282,802       0.10     11.640       177        99.56       649
25,001--50,000                          116      4,513,298       1.52     11.682       178        99.13       648
50,001--75,000                          137      8,483,360       2.86     11.133       206        96.97       651
75,001--100,000                          95      8,318,398       2.80     10.412       255        90.15       632
100,001--125,000                        123     14,018,299       4.72      9.494       301        85.01       620
125,001--150,000                        120     16,657,381       5.61      8.954       342        79.39       605
150,001--175,000                        106     17,198,714       5.80      8.697       345        78.87       618
175,001--200,000                        115     21,689,867       7.31      8.429       356        79.75       612
200,001--225,000                         91     19,346,167       6.52      8.240       357        80.80       627
225,001--250,000                         69     16,383,373       5.52      8.291       357        78.73       612
250,001--275,000                         58     15,246,578       5.14      8.017       357        79.74       610
275,001--300,000                         69     19,873,693       6.70      8.132       354        79.80       635
300,001--325,000                         52     16,245,366       5.47      7.944       357        81.06       627
325,001--350,000                         37     12,478,791       4.21      8.184       357        81.52       627
350,001--375,000                         29     10,433,520       3.52      8.061       357        79.01       636
375,001--400,000                         32     12,483,926       4.21      8.090       357        80.44       641
400,001--425,000                         28     11,575,135       3.90      8.095       357        81.85       628
425,001--450,000                         27     11,848,095       3.99      7.808       357        79.06       624
450,001--475,000                         18      8,298,697       2.80      8.189       357        81.96       657
475,001--500,000                         24     11,803,881       3.98      8.294       357        81.69       631
500,001--750,000                         58     35,163,688      11.85      8.211       357        80.98       636
750,001--1,000,000                        5      4,380,551       1.48      8.221       358        82.65       659
-------------------------------------------------------------------------------------------------------------------
Total:                                1,422    296,723,578     100.00      8.506       342        81.57       627
-------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 988,617
Average: 208,666

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                      1,422 records
TERMSHEET BALLOON                                          Balance: $296,723,578
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

180                                   354     23,914,670       8.06      11.437      176        99.11       657
360                                 1,068    272,808,908      91.94       8.249      357        80.03       625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,422    296,723,578     100.00       8.506      342        81.57       627
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 345

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                              354     23,914,670       8.06      11.437      176        99.11       657
349--360                            1,068    272,808,908      91.94       8.249      357        80.03       625
-----------------------------------------------------------------------------------------------------------------
Total:                              1,422    296,723,578     100.00       8.506      342        81.57       627
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 360
Weighted Average: 342

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                      1,422 records
TERMSHEET BALLOON                                          Balance: $296,723,578
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                              Aggregate   Aggregate    Weighted    Weighted   Weighted
                                  Number       Cut-off     Cut-off     Average     Average     Average   Weighted
                                    of           Date        Date       Gross     Remaining   Combined    Average
Range of Combined Original LTV   Mortgage     Principal   Principal    Interest      Term     Original     FICO
         Ratios (%)               Loans      Balance ($)   Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

20.01--25.00                           1        135,770       0.05       6.650       356        23.86       549
25.01--30.00                           1        144,693       0.05       7.875       353        29.59       548
30.01--35.00                           1        257,053       0.09       6.990       358        31.37       618
35.01--40.00                           4        567,660       0.19       8.870       357        38.55       576
40.01--45.00                          12      2,116,820       0.71       7.489       357        42.21       602
45.01--50.00                          13      2,180,097       0.73       8.115       357        47.14       585
50.01--55.00                          12      2,557,383       0.86       8.241       357        53.04       571
55.01--60.00                          21      4,306,820       1.45       7.943       353        57.93       600
60.01--65.00                          26      6,432,710       2.17       8.343       357        63.60       571
65.01--70.00                          43      9,736,066       3.28       8.592       355        68.77       569
70.01--75.00                          74     19,480,047       6.57       8.280       354        74.01       577
75.01--80.00                         546    147,356,191      49.66       8.075       357        79.84       644
80.01--85.00                         113     26,357,808       8.88       8.551       357        84.47       596
85.01--90.00                         132     33,299,363      11.22       8.431       356        89.59       622
90.01--95.00                          69     15,715,864       5.30       8.905       353        94.57       638
95.01--100.00                        354     26,079,236       8.79      11.182       199        99.98       654
-----------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00       8.506       342        81.57       627
-----------------------------------------------------------------------------------------------------------------


Minimum: 23.86
Maximum: 100.00
Weighted Average: 81.57

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted     Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average     Average     Average   Weighted
                                    of          Date         Date       Gross     Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest       Term     Original     FICO
  Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)     (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     421     38,639,988      13.02      10.102       245        91.37       646
<= 3.500                               4        897,622       0.30       7.353       355        82.95       652
3.501--4.000                           3        878,124       0.30       7.244       357        77.02       667
4.001--4.500                          15      3,904,588       1.32       7.589       357        73.82       627
4.501--5.000                          50     14,501,275       4.89       8.082       357        79.94       647
5.001--5.500                         116     34,833,336      11.74       8.164       356        83.08       635
5.501--6.000                         185     47,679,670      16.07       8.471       357        79.95       618
6.001--6.500                         253     66,585,901      22.44       8.073       358        80.54       632
6.501--7.000                         138     35,015,393      11.80       8.145       357        77.72       617
7.001--7.500                         196     42,650,933      14.37       8.524       357        79.79       613
7.501--8.000                          31      8,181,398       2.76       8.858       357        79.63       610
8.001--8.500                           7      2,055,217       0.69       8.907       356        76.65       563
8.501--9.000                           2        694,733       0.23       9.364       358        93.35       672
9.001--9.500                           1        205,400       0.07       9.350       357        80.00       650
-----------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00       8.506       342        81.57       627
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.100
Non-Zero Weighted Average: 6.270

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                      1,422 records
TERMSHEET BALLOON                                          Balance: $296,723,578
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      421     38,639,988      13.02     10.102       245        91.37       646
5.501--6.000                            5      1,763,168       0.59      6.984       354        85.16       660
6.001--6.500                           18      5,223,275       1.76      6.408       357        78.21       640
6.501--7.000                           56     14,958,779       5.04      6.824       357        77.61       659
7.001--7.500                          104     30,070,794      10.13      7.318       357        79.26       649
7.501--8.000                          267     73,921,072      24.91      7.819       357        79.54       634
8.001--8.500                          147     39,353,872      13.26      8.275       357        80.68       624
8.501--9.000                          188     45,505,231      15.34      8.778       357        79.68       612
9.001--9.500                           72     18,343,192       6.18      9.290       357        82.22       621
9.501--10.000                          83     18,371,736       6.19      9.814       357        82.78       578
10.001 -10.500                         27      5,662,586       1.91     10.288       357        82.29       582
10.501--11.000                         27      3,646,270       1.23     10.787       358        82.67       558
11.001--11.500                          6      1,081,645       0.36     11.200       358        69.57       552
11.501--12.000                          1        181,968       0.06     11.900       358       100.00       576
-----------------------------------------------------------------------------------------------------------------
Total:                              1,422    296,723,578     100.00      8.506       342        81.57       627
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.900
Non-Zero Weighted Average: 8.258

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      421     38,639,988      13.02     10.102       245        91.37       646
<= 12.500                              22      6,526,516       2.20      6.853       356        79.07       651
12.501--13.000                         24      6,927,306       2.33      7.761       356        84.47       628
13.001--13.500                         35     10,430,899       3.52      7.418       357        79.71       623
13.501--14.000                         77     21,281,533       7.17      7.401       357        78.54       643
14.001--14.500                        100     29,163,972       9.83      7.481       357        79.25       650
14.501--15.000                        241     66,586,164      22.44      7.877       357        79.26       635
15.001--15.500                        133     35,644,294      12.01      8.403       357        81.12       623
15.501--16.000                        176     41,247,377      13.90      8.831       357        79.68       608
16.001--16.500                         65     16,041,135       5.41      9.313       357        81.81       621
16.501--17.000                         74     15,788,958       5.32      9.812       357        82.61       578
17.001--17.500                         23      4,061,269       1.37     10.217       358        80.80       570
17.501--18.000                         25      3,278,429       1.10     10.794       358        82.41       556
18.001--18.500                          5        923,769       0.31     11.217       358        74.61       552
18.501--19.000                          1        181,968       0.06     11.900       358       100.00       576
-----------------------------------------------------------------------------------------------------------------
Total:                              1,422    296,723,578     100.00      8.506       342        81.57       627
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 18.900
Non-Zero Weighted Average: 15.012

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     421     38,639,988      13.02     10.102       245        91.37       646
1.500                                218     51,237,641      17.27      8.565       357        78.74       621
2.000                                302     82,713,353      27.88      8.337       358        80.23       622
3.000                                481    124,132,595      41.83      8.097       357        80.58       628
----------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00      8.506       342        81.57       627
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.382

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     421     38,639,988      13.02     10.102       245         91.37       646
1.000                                206     61,357,185      20.68      8.232       356         81.17       620
1.500                                794    196,447,744      66.21      8.279       357         79.77       626
2.000                                  1        278,661       0.09      7.850       356         80.00       757
----------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00      8.506       342         81.57       627
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.382

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                                  % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                           421     38,639,988      13.02     10.102       245        91.37       646
14                                           2        381,729       0.13      6.501       350        87.10       621
15                                           7      1,489,076       0.50      7.618       351        79.84       670
16                                           4        659,500       0.22      8.600       352        74.13       584
17                                          17      5,207,161       1.75      8.037       353        80.22       653
18                                          12      3,074,833       1.04      8.343       354        79.09       616
19                                          52     14,764,133       4.98      8.235       355        79.90       624
20                                         116     34,001,954      11.46      8.251       356        80.19       627
21                                         196     54,293,985      18.30      8.288       357        80.94       625
22                                         293     79,288,734      26.72      8.200       358        79.21       626
23                                          89     19,648,116       6.62      8.382       359        81.96       623
24                                           2        542,000       0.18      8.514       360        75.23       609
28                                           2        358,456       0.12      8.226       352        82.66       614
30                                           1        190,969       0.06      8.600       354        85.00       582
31                                           5      1,051,719       0.35      7.894       355        78.83       553
32                                          12      3,419,629       1.15      7.976       356        81.73       638
33                                          78     16,512,135       5.56      8.355       357        81.29       616
34                                         107     21,560,802       7.27      8.465       358        79.37       617
35                                           6      1,638,658       0.55      8.767       359        71.38       586
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,422    296,723,578     100.00      8.506       342        81.57       627
----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 35
Non-Zero Weighted Average: 23

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

California                                 485    128,690,014      43.37      8.368       338        81.43       638
Florida                                    218     33,741,915      11.37      8.836       335        81.41       619
Illinois                                   129     21,714,454       7.32      8.907       343        83.79       626
New York                                    37     13,793,000       4.65      7.859       357        77.56       639
Arizona                                     74     12,880,531       4.34      8.679       349        80.21       611
Washington                                  50      9,377,465       3.16      8.233       346        83.14       619
Maryland                                    37      8,515,617       2.87      8.190       353        79.09       606
Nevada                                      42      8,185,990       2.76      8.623       340        81.99       617
Massachusetts                               32      6,931,803       2.34      8.376       352        84.04       618
New Jersey                                  18      6,028,757       2.03      8.663       357        79.93       613
Oregon                                      25      4,963,008       1.67      8.164       353        81.30       598
Connecticut                                 21      4,638,050       1.56      8.500       354        82.08       631
Hawaii                                      10      4,611,985       1.55      8.209       357        77.23       641
Virginia                                    25      4,318,067       1.46      8.920       340        81.82       618
Colorado                                    33      4,096,076       1.38      8.738       339        83.47       625
Other                                      186     24,236,846       8.17      8.884       350        83.78       611
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,422    296,723,578     100.00      8.506       342        81.57       627
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

Number of States/District of Columbia Represented: 42

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Occupancy             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------------

Primary                            1,352    281,332,797      94.81      8.469       342        81.58       627
Investment                            56     11,306,821       3.81      9.264       357        80.20       639
Second Home                           14      4,083,961       1.38      8.926       353        84.52       636
---------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00      8.506       342        81.57       627
---------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                            % of
                                                          Mortgage
                                                          Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Property Type             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Single Family Residence            1,137    229,589,034      77.37      8.482       342        81.72       625
2-4 Family                            92     24,489,038       8.25      8.544       342        79.55       641
Condo                                115     21,967,159       7.40      8.725       341        83.54       643
Planned Unit Development              78     20,678,347       6.97      8.489       346        80.24       620
----------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00      8.506       342        81.57       627
----------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Loan Purpose             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Refinance--Cashout                   620    152,432,424      51.37      8.371       355        79.21       602
Purchase                             745    133,751,053      45.08      8.685       328        84.15       656
Refinance--Rate Term                  57     10,540,101       3.55      8.187       352        83.08       618
----------------------------------------------------------------------------------------------------------------
Total:                             1,422    296,723,578     100.00      8.506       342        81.57       627
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation        819    171,550,350      57.81      8.717       339        81.53       640
Full Documentation          536    113,907,948      38.39      8.176       348        81.49       609
Limited Documentation        67     11,265,280       3.80      8.627       329        82.94       613
-------------------------------------------------------------------------------------------------------
Total:                    1,422    296,723,578     100.00      8.506       342        81.57       627
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

500--524                     65     12,534,347       4.22      9.467       355        73.86       511
525--549                     67     14,099,093       4.75      8.846       357        72.17       537
550--574                    104     25,061,865       8.45      8.724       356        78.10       562
575--599                    158     35,659,688      12.02      8.566       354        80.83       588
600--624                    251     50,487,962      17.02      8.469       342        82.41       612
625--649                    322     62,128,013      20.94      8.478       338        83.03       636
650--674                    208     42,481,812      14.32      8.423       333        83.87       661
675--699                    107     23,009,228       7.75      8.246       330        83.26       687
700--724                     75     17,005,395       5.73      8.202       338        85.16       710
725--749                     34      7,778,355       2.62      8.119       345        82.25       735
750--774                     20      4,188,655       1.41      8.039       335        82.93       760
775--799                      8      2,002,142       0.67      7.851       312        79.82       787
800 +                         3        287,023       0.10      8.837       249        95.86       809
-------------------------------------------------------------------------------------------------------
Total:                    1,422    296,723,578     100.00      8.506       342        81.57       627
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 627

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET BALLOON                                                  1,422 records
                                                           Balance: $296,723,578
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             334     67,976,403      22.91      8.858       345        82.74       627
6                               5      1,420,720       0.48      8.576       356        79.92       625
12                             82     24,540,340       8.27      8.300       350        79.43       650
24                            615    143,233,897      48.27      8.254       347        80.74       625
30                              1        174,090       0.06      8.800       356        85.00       640
36                            371     57,270,152      19.30      8.791       324        83.37       625
48                              1        145,964       0.05      8.500       359        36.50       529
60                             13      1,962,011       0.66      8.847       358        80.39       566
---------------------------------------------------------------------------------------------------------
Total:                      1,422    296,723,578     100.00      8.506       342        81.57       627
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                    1,070    273,047,776      92.02      8.248       357        80.02       625
2nd Lien                      352     23,675,802       7.98     11.477       176        99.46       658
---------------------------------------------------------------------------------------------------------
Total:                      1,422    296,723,578     100.00      8.506       342        81.57       627
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Interest Only Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                           1,422    296,723,578     100.00      8.506       342        81.57       627
---------------------------------------------------------------------------------------------------------
Total:                      1,422    296,723,578     100.00      8.506       342        81.57       627
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 915
Aggregate Principal Balance ($): 271,051,190
Weighted Average Current Mortgage Rate (%): 8.166
Non-Zero Weighted Average Margin (%): 6.331
Non-Zero Weighted Average Maximum Rate (%): 14.653
Weighted Average Stated Original Term (months): 351
Weighted Average Stated Remaining Term (months): 347
Weighted Average Combined Original LTV (%): 80.11
%First Liens: 94.46
%Owner Occupied: 93.29
%Purchase: 52.76
%Full Doc: 30.43
Non-Zero Weighted Average Credit Score: 641

ORIGINATOR



                                              % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted   Weighted    Weighted
                    Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             50      14,732,862       5.44      8.147       357        77.16       638
Chapel                  4       1,578,606       0.58      7.796       351        78.02       620
Encore                102      37,976,085      14.01      7.976       355        79.39       644
First Banc             34       7,700,195       2.84      8.218       342        79.10       610
First Horizon           7       2,660,596       0.98      8.645       356        75.76       654
First NLC             368      98,791,299      36.45      8.226       344        80.63       643
Flex Point              6       1,485,110       0.55      8.878       355        63.80       594
Funding America        13       2,558,611       0.94      8.312       355        84.91       661
Lenders Direct         11       3,650,156       1.35      8.233       327        79.66       635
Lime Financial         17       5,472,342       2.02      7.786       346        81.99       657
Mandalay               26       4,513,381       1.67      8.646       298        86.75       674
Master Financial      109      31,405,215      11.59      8.342       333        83.77       638
New Century           151      53,013,198      19.56      8.046       358        79.25       643
Quick Loan             17       5,513,534       2.03      8.096       356        70.13       592
--------------------------------------------------------------------------------------------------
Total:                915     271,051,190     100.00      8.166       347        80.11       641
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                               % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off     Cut-off      Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           4         353,732       0.13      8.997        176     55.01        649
Fixed--20 Year                           1         237,631       0.09      7.090        237     74.80        689
Fixed--30 Year                          42       6,980,429       2.58      8.310        356     72.27        626
Balloon--15/30                         155      13,622,876       5.03     11.270        176     99.20        661
Balloon--30/40                          13       4,377,797       1.62      7.560        356     75.88        637
ARM--2 Year/6 Month Balloon 30/40      285     101,377,944      37.40      8.064        357     79.49        635
ARM--2 Year/6 Month Balloon 30/50        1         203,935       0.08      8.450        357     80.00        625
ARM--3 Year/6 Month Balloon 30/40       31       9,107,463       3.36      7.803        357     79.17        634
ARM--2 Year/6 Month                    129      41,268,853      15.23      8.462        356     76.64        612
ARM--3 Year/6 Month                     15       4,486,762       1.66      8.317        357     77.11        608
ARM--5 Year/6 Month                      1         163,942       0.06      6.950        354     55.00        686
Interest Only ARM--3 Year/6              1         216,000       0.08      8.425        357     80.00        608
Month--36 mo. IO term
Interest Only Fixed--30 Year--60         3         888,600       0.33      7.212        357     73.35        631
mo. IO term
Interest Only ARM--2 Year/6            207      77,899,209      28.74      7.718        356     80.88        662
Month--60 mo. IO term
Interest Only ARM--3 Year/6             25       9,239,119       3.41      7.811        357     81.09        660
Month--60 mo. IO term
Interest Only ARM--5 Year/6              1         306,900       0.11      5.700        358     52.93        643
Month--60 mo. IO term
Interest Only ARM--5 Year/6              1         320,000       0.12      8.000        357     80.00        656
Month--120 mo. IO term
----------------------------------------------------------------------------------------------------------------
Total:                                 915     271,051,190     100.00      8.166        347     80.11        641
----------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                               Pool by
                                                 Aggregate   Aggregate   Weighted    Weighted   Weighted
                                     Number       Cut-off     Cut-off     Average    Average    Average    Weighted
                                      of           Date         Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                             3         876,576       0.32      5.888       355        64.94       648
6.000--6.999                            99      32,860,566      12.12      6.688       356        76.16       661
7.000--7.999                           336     117,163,449      43.23      7.607       356        79.20       651
8.000--8.999                           213      72,360,378      26.70      8.472       356        79.51       625
9.000--9.999                            82      28,556,491      10.54      9.431       352        81.20       613
10.000--10.999                          62       8,511,880       3.14     10.506       276        88.99       645
11.000--11.999                         101       8,918,938       3.29     11.584       204        96.97       642
12.000--12.999                          19       1,802,912       0.67     12.251       208       100.00       629
-------------------------------------------------------------------------------------------------------------------
Total:                                 915     271,051,190     100.00      8.166       347        80.11       641
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.500
Weighted Average: 8.166

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Balances ($)                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                        23         972,837       0.36     11.154       208        95.09       644
50,001--75,000                        52       3,329,183       1.23     11.217       190        98.62       650
75,001--100,000                       50       4,393,524       1.62     10.954       203        93.82       661
100,001--125,000                      51       5,736,160       2.12     10.433       240        85.05       648
125,001--150,000                      34       4,692,573       1.73      9.202       309        72.25       617
150,001--175,000                      41       6,660,578       2.46      8.684       326        72.92       614
175,001--200,000                      30       5,722,137       2.11      8.135       357        70.08       614
200,001--225,000                      45       9,606,373       3.54      7.956       357        76.54       641
225,001--250,000                      49      11,689,434       4.31      8.065       355        73.46       628
250,001--275,000                      53      13,913,414       5.13      7.790       357        79.35       623
275,001--300,000                      69      19,946,979       7.36      8.003       354        77.78       630
300,001--325,000                      54      16,883,451       6.23      7.886       356        76.75       624
325,001--350,000                      46      15,582,480       5.75      8.017       356        80.79       637
350,001--375,000                      33      11,945,840       4.41      7.832       356        79.63       658
375,001--400,000                      49      19,078,797       7.04      7.907       357        79.90       655
400,001--425,000                      39      16,092,813       5.94      7.949       356        81.84       644
425,001--450,000                      37      16,246,175       5.99      7.821       356        82.20       631
450,001--475,000                      28      12,922,755       4.77      8.086       357        80.91       657
475,001--500,000                      42      20,569,997       7.59      7.877       356        80.26       651
500,001--750,000                      84      50,049,395      18.46      8.122       356        82.15       644
750,001--1,000,000                     6       5,016,296       1.85      8.068       356        84.99       691
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Minimum: 29,553
Maximum: 988,299
Average: 296,231

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

180                                  159      13,976,608       5.16     11.213       176        98.08       661
240                                    1         237,631       0.09      7.090       237        74.80       689
360                                  755     256,836,952      94.76      8.001       357        79.13       640
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 351

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest     Term      Original     FICO
          (months)                  Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

169--180                             159      13,976,608       5.16     11.213       176        98.08       661
229--240                               1         237,631       0.09      7.090       237        74.80       689
349--360                             755     256,836,952      94.76      8.001       357        79.13       640
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 347

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Ratios (%)                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

15.01--20.00                           2         244,280       0.09      8.662       356        18.21       526
20.01--25.00                           5         755,779       0.28      7.597       336        23.82       570
25.01--30.00                           4         493,426       0.18      7.744       311        27.33       607
30.01--35.00                           2         365,346       0.13      7.987       357        33.20       649
35.01--40.00                           2         262,633       0.10      8.899       357        39.56       590
40.01--45.00                          16       3,034,673       1.12      7.765       357        42.29       601
45.01--50.00                          19       3,514,722       1.30      7.748       357        47.87       610
50.01--55.00                          18       4,228,369       1.56      8.003       357        52.89       588
55.01--60.00                          11       2,779,989       1.03      7.634       357        57.28       592
60.01--65.00                          19       5,082,951       1.88      7.826       357        63.39       584
65.01--70.00                          24       7,310,196       2.70      8.342       356        69.18       597
70.01--75.00                          47      14,852,243       5.48      8.239       351        74.00       585
75.01--80.00                         417     151,412,446      55.86      7.874       357        79.82       656
80.01--85.00                          60      22,910,981       8.45      8.148       356        84.39       619
85.01--90.00                          70      28,007,810      10.33      8.073       355        89.41       637
90.01--95.00                          31      10,403,773       3.84      8.742       356        94.73       648
95.01--100.00                        168      15,391,571       5.68     11.149       201        99.99       658
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 80.11

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Range of Gross Margins (%)        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76      9.671       260        86.56       647
<= 3.500                               5       1,377,782       0.51      6.630       356        69.85       658
3.501--4.000                           3       1,173,560       0.43      7.056       357        78.69       661
4.001--4.500                          10       3,355,437       1.24      7.469       358        77.55       656
4.501--5.000                          30      10,982,059       4.05      7.931       356        80.91       661
5.001--5.500                         107      42,813,540      15.80      7.786       356        82.11       654
5.501--6.000                          92      32,507,729      11.99      8.054       356        78.17       637
6.001--6.500                         167      60,464,433      22.31      7.804       357        79.94       649
6.501--7.000                         102      31,463,103      11.61      7.939       357        75.88       630
7.001--7.500                         108      35,105,679      12.95      8.099       357        78.87       634
7.501--8.000                          47      15,493,520       5.72      8.826       357        79.77       614
8.001--8.500                          23       8,640,879       3.19      9.095       357        79.80       586
8.501--9.000                           3       1,212,404       0.45      9.487       358        93.70       649
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 8.750
Non-Zero Weighted Average: 6.331

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76       9.671      260        86.56       647
5.501--6.000                           6       2,063,566       0.76       6.795      354        75.96       649
6.001--6.500                          22       7,893,441       2.91       6.303      357        77.62       658
6.501--7.000                          66      23,776,149       8.77       6.859      356        78.36       659
7.001--7.500                         104      36,702,598      13.54       7.307      356        79.15       654
7.501--8.000                         210      73,906,168      27.27       7.807      357        79.28       650
8.001--8.500                         112      39,732,454      14.66       8.271      356        80.33       637
8.501--9.000                          90      29,647,848      10.94       8.785      357        78.97       610
9.001--9.500                          42      16,645,154       6.14       9.250      357        80.37       635
9.501--10.000                         28       9,693,378       3.58       9.781      356        82.28       579
10.001 -10.500                        11       3,356,621       1.24      10.335      357        82.29       612
10.501--11.000                         3         492,985       0.18      10.849      357        77.18       626
11.001--11.500                         3         679,764       0.25      11.159      356        62.94       561
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00       8.166      347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 11.250
Non-Zero Weighted Average: 7.996

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76      9.671       260        86.56       647
<= 12.500                             28      10,238,104       3.78      6.786       355        76.05       654
12.501--13.000                        30      12,522,809       4.62      7.593       356        82.57       659
13.001--13.500                        38      14,015,982       5.17      7.350       356        80.05       644
13.501--14.000                        75      26,402,585       9.74      7.325       356        78.19       647
14.001--14.500                       106      37,247,525      13.74      7.517       356        79.13       650
14.501--15.000                       179      62,460,326      23.04      7.876       357        78.96       650
15.001--15.500                        92      32,111,793      11.85      8.370       357        79.76       637
15.501--16.000                        79      24,734,856       9.13      8.795       357        78.74       604
16.001--16.500                        34      13,928,856       5.14      9.264       357        81.80       643
16.501--17.000                        23       7,674,336       2.83      9.769       357        82.57       574
17.001--17.500                         8       2,238,082       0.83     10.307       358        83.89       603
17.501--18.000                         3         492,985       0.18     10.849       357        77.18       626
18.001--18.500                         2         521,888       0.19     11.176       356        69.86       563
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 18.250
Non-Zero Weighted Average: 14.653

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76      9.671       260        86.56       647
1.500                                 72      23,849,314       8.80      8.080       357        78.13       636
2.000                                224      81,739,986      30.16      8.033       357        79.69       644
3.000                                400     138,680,825      51.16      7.972       356        79.47       638
5.000                                  1         320,000       0.12      8.000       357        80.00       656
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 5.000
Non-Zero Weighted Average: 2.522

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76      9.671       260        86.56       647
1.000                                241      89,332,314      32.96      7.960       355        79.95       636
1.500                                449     152,776,954      56.36      8.034       357        79.17       642
2.000                                  7       2,480,858       0.92      7.689       352        74.56       676
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.322

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76      9.671       260        86.56       647
14                                     6       2,683,813       0.99      7.102       350        79.84       689
15                                     6       1,801,424       0.66      7.830       351        75.74       654
16                                     8       3,014,305       1.11      8.031       352        82.44       626
17                                    21       7,697,209       2.84      7.778       353        82.04       635
18                                    21       8,029,638       2.96      7.841       354        81.98       617
19                                    45      17,321,813       6.39      7.988       355        80.74       642
20                                   137      50,545,675      18.65      8.018       356        78.99       638
21                                   148      52,881,905      19.51      8.092       357        79.06       640
22                                   212      70,847,522      26.14      8.053       358        78.87       643
23                                    18       5,926,636       2.19      7.998       359        82.58       640
26                                     1         343,599       0.13      7.350       350        79.45       609
27                                     1         620,450       0.23      8.750       351        80.00       629
31                                     3         897,673       0.33      8.260       355        86.34       629
32                                     8       3,506,629       1.29      7.599       356        81.61       662
33                                    28       8,017,890       2.96      7.832       357        80.42       639
34                                    30       9,418,277       3.47      8.033       358        78.02       635
35                                     1         244,825       0.09      7.750       359        54.54       619
54                                     1         163,942       0.06      6.950       354        55.00       686
57                                     1         320,000       0.12      8.000       357        80.00       656
58                                     1         306,900       0.11      5.700       358        52.93       643
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
  Geographic Distribution of      Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

California                           915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 1

OCCUPANCY



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Occupancy               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Primary                              857     252,871,275      93.29      8.116       346        80.12       640
Investment                            52      16,204,407       5.98      8.849       356        79.67       649
Second Home                            6       1,975,508       0.73      8.944       358        82.57       665
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Property Type             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Single Family Residence              747     215,853,773      79.64      8.127       347        79.95       639
Condo                                 79      22,100,045       8.15      8.257       348        81.28       649
2-4 Family                            56      20,768,227       7.66      8.512       345        78.57       645
Planned Unit Development              33      12,329,144       4.55      8.103       347        83.30       649
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Loan Purpose             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Purchase                             525     143,005,704      52.76      8.256       340        82.53       664
Refinance--Cashout                   364     119,866,722      44.22      8.103       355        77.41       613
Refinance--Rate Term                  26       8,178,764       3.02      7.518       354        77.19       636
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

Stated Documentation         587     173,926,946      64.17      8.352       346        80.26       649
Full Documentation           279      82,474,908      30.43      7.810       349        79.59       624
Limited Documentation         49      14,649,336       5.40      7.967       345        81.20       631
---------------------------------------------------------------------------------------------------------
Total:                       915     271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

500--524                      39      10,347,027       3.82      9.172       356        67.26      513
525--549                      34       8,440,522       3.11      8.587       357        67.05      536
550--574                      39      11,675,005       4.31      8.555       355        76.66      562
575--599                      58      19,390,966       7.15      8.311       355        79.69      589
600--624                     163      49,365,498      18.21      8.162       347        80.87      613
625--649                     199      54,744,383      20.20      8.169       344        81.90      636
650--674                     170      48,922,711      18.05      8.045       345        81.14      661
675--699                     107      33,924,786      12.52      7.977       343        81.31      685
700--724                      49      16,331,550       6.03      7.894       349        83.40      711
725--749                      20       6,002,941       2.21      7.981       351        80.62      735
750--774                      25       8,110,349       2.99      7.944       348        80.60      760
775--799                       9       3,263,190       1.20      7.778       328        80.28      781
800 +                          3         532,261       0.20      7.565       293        86.32      808
---------------------------------------------------------------------------------------------------------
Total:                       915     271,051,190     100.00      8.166       347        80.11      641
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 641

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             71      26,691,852       9.85      8.887       351        80.87       663
6                              1         400,000       0.15      7.625       358        80.00       740
12                            49      18,405,258       6.79      8.544       349        81.28       651
24                           566     174,549,674      64.40      8.002       350        80.09       637
36                           223      49,754,729      18.36      8.219       333        79.49       636
60                             5       1,249,676       0.46      8.232       358        73.41       618
---------------------------------------------------------------------------------------------------------
Total:                       915     271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CA BREAKDOWN                                               915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
       Lien          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Position         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

1st Lien                743     256,026,083      94.46      7.982       356        78.98       640
2nd Lien                172      15,025,107       5.54     11.295       191        99.26       660
----------------------------------------------------------------------------------------------------
Total:                  915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

0                       677     182,181,362      67.21      8.384       343        79.81       631
36                        1         216,000       0.08      8.425       357        80.00       608
60                      236      88,333,828      32.59      7.716       356        80.73       661
120                       1         320,000       0.12      8.000       357        80.00       656
----------------------------------------------------------------------------------------------------
Total:                  915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------
SUMMARY STATISTICS

Number of Mortgage Loans: 915
Aggregate Principal Balance ($): 271,051,190
Weighted Average Current Mortgage Rate (%): 8.166
Non-Zero Weighted Average Margin (%): 6.331
Non-Zero Weighted Average Maximum Rate (%): 14.653
Weighted Average Stated Original Term (months): 351
Weighted Average Stated Remaining Term (months): 347
Weighted Average Combined Original LTV (%): 80.11
%First Liens: 94.46
%Owner Occupied: 93.29
%Purchase: 52.76
%Full Doc: 30.43
Non-Zero Weighted Average Credit Score: 641

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             50      14,732,862       5.44      8.147       357        77.16       638
Chapel                  4       1,578,606       0.58      7.796       351        78.02       620
Encore                102      37,976,085      14.01      7.976       355        79.39       644
First Banc             34       7,700,195       2.84      8.218       342        79.10       610
First Horizon           7       2,660,596       0.98      8.645       356        75.76       654
First NLC             368      98,791,299      36.45      8.226       344        80.63       643
Flex Point              6       1,485,110       0.55      8.878       355        63.80       594
Funding America        13       2,558,611       0.94      8.312       355        84.91       661
Lenders Direct         11       3,650,156       1.35      8.233       327        79.66       635
Lime Financial         17       5,472,342       2.02      7.786       346        81.99       657
Mandalay               26       4,513,381       1.67      8.646       298        86.75       674
Master Financial      109      31,405,215      11.59      8.342       333        83.77       638
New Century           151      53,013,198      19.56      8.046       358        79.25       643
Quick Loan             17       5,513,534       2.03      8.096       356        70.13       592
--------------------------------------------------------------------------------------------------
Total:                915     271,051,190     100.00      8.166       347        80.11       641
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Product with IO term             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                              4         353,732       0.13      8.997       176        55.01       649
Fixed--20 Year                              1         237,631       0.09      7.090       237        74.80       689
Fixed--30 Year                             42       6,980,429       2.58      8.310       356        72.27       626
Balloon--15/30                            155      13,622,876       5.03     11.270       176        99.20       661
Balloon--30/40                             13       4,377,797       1.62      7.560       356        75.88       637
ARM--2 Year/6 Month Balloon 30/40         285     101,377,944      37.40      8.064       357        79.49       635
ARM--2 Year/6 Month Balloon 30/50           1         203,935       0.08      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40          31       9,107,463       3.36      7.803       357        79.17       634
ARM--2 Year/6 Month                       129      41,268,853      15.23      8.462       356        76.64       612
ARM--3 Year/6 Month                        15       4,486,762       1.66      8.317       357        77.11       608
ARM--5 Year/6 Month                         1         163,942       0.06      6.950       354        55.00       686
Interest Only ARM--3 Year/6 Month--
36 mo. IO term                              1         216,000       0.08      8.425       357        80.00       608
Interest Only Fixed--30 Year--60 mo.
IO term                                     3         888,600       0.33      7.212       357        73.35       631
Interest Only ARM--2 Year/6 Month--
60 mo. IO term                            207      77,899,209      28.74      7.718       356        80.88       662
Interest Only ARM--3 Year/6 Month--
60 mo. IO term                             25       9,239,119       3.41      7.811       357        81.09       660
Interest Only ARM--5 Year/6 Month--
60 mo. IO term                              1         306,900       0.11      5.700       358        52.93       643
Interest Only ARM--5 Year/6 Month--
120 mo. IO term                             1         320,000       0.12      8.000       357        80.00       656
----------------------------------------------------------------------------------------------------------------------
Total:                                    915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Range of Gross Interest Rates (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

5.000--5.999                                3         876,576       0.32      5.888       355        64.94       648
6.000--6.999                               99      32,860,566      12.12      6.688       356        76.16       661
7.000--7.999                              336     117,163,449      43.23      7.607       356        79.20       651
8.000--8.999                              213      72,360,378      26.70      8.472       356        79.51       625
9.000--9.999                               82      28,556,491      10.54      9.431       352        81.20       613
10.000--10.999                             62       8,511,880       3.14     10.506       276        88.99       645
11.000--11.999                            101       8,918,938       3.29     11.584       204        96.97       642
12.000--12.999                             19       1,802,912       0.67     12.251       208       100.00       629
----------------------------------------------------------------------------------------------------------------------
Total:                                    915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.500
Weighted Average: 8.166

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)


                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                       23          972,837       0.36     11.154       208        95.09       644
50,001--75,000                       52        3,329,183       1.23     11.217       190        98.62       650
75,001--100,000                      50        4,393,524       1.62     10.954       203        93.82       661
100,001--125,000                     51        5,736,160       2.12     10.433       240        85.05       648
125,001--150,000                     34        4,692,573       1.73      9.202       309        72.25       617
150,001--175,000                     41        6,660,578       2.46      8.684       326        72.92       614
175,001--200,000                     30        5,722,137       2.11      8.135       357        70.08       614
200,001--225,000                     45        9,606,373       3.54      7.956       357        76.54       641
225,001--250,000                     49       11,689,434       4.31      8.065       355        73.46       628
250,001--275,000                     53       13,913,414       5.13      7.790       357        79.35       623
275,001--300,000                     69       19,946,979       7.36      8.003       354        77.78       630
300,001--325,000                     54       16,883,451       6.23      7.886       356        76.75       624
325,001--350,000                     46       15,582,480       5.75      8.017       356        80.79       637
350,001--375,000                     33       11,945,840       4.41      7.832       356        79.63       658
375,001--400,000                     49       19,078,797       7.04      7.907       357        79.90       655
400,001--425,000                     39       16,092,813       5.94      7.949       356        81.84       644
425,001--450,000                     37       16,246,175       5.99      7.821       356        82.20       631
450,001--475,000                     28       12,922,755       4.77      8.086       357        80.91       657
475,001--500,000                     42       20,569,997       7.59      7.877       356        80.26       651
500,001--750,000                     84       50,049,395      18.46      8.122       356        82.15       644
750,001--1,000,000                    6        5,016,296       1.85      8.068       356        84.99       691
---------------------------------------------------------------------------------------------------------------
Total:                              915      271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------------


Minimum: 29,553
Maximum: 988,299
Average: 296,231

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

180                                159       13,976,608       5.16     11.213       176        98.08       661
240                                  1          237,631       0.09      7.090       237        74.80       689
360                                755      256,836,952      94.76      8.001       357        79.13       640
----------------------------------------------------------------------------------------------------------------
Total:                             915      271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 351

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------- ----------- --------------------

169--180                             159      13,976,608       5.16     11.213       176        98.08       661
229--240                               1         237,631       0.09      7.090       237        74.80       689
349--360                             755     256,836,952      94.76      8.001       357        79.13       640
-----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166       347        80.11       641
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 347

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined    Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

15.01--20.00                          2         244,280       0.09      8.662       356        18.21       526
20.01--25.00                          5         755,779       0.28      7.597       336        23.82       570
25.01--30.00                          4         493,426       0.18      7.744       311        27.33       607
30.01--35.00                          2         365,346       0.13      7.987       357        33.20       649
35.01--40.00                          2         262,633       0.10      8.899       357        39.56       590
40.01--45.00                         16       3,034,673       1.12      7.765       357        42.29       601
45.01--50.00                         19       3,514,722       1.30      7.748       357        47.87       610
50.01--55.00                         18       4,228,369       1.56      8.003       357        52.89       588
55.01--60.00                         11       2,779,989       1.03      7.634       357        57.28       592
60.01--65.00                         19       5,082,951       1.88      7.826       357        63.39       584
65.01--70.00                         24       7,310,196       2.70      8.342       356        69.18       597
70.01--75.00                         47      14,852,243       5.48      8.239       351        74.00       585
75.01--80.00                        417     151,412,446      55.86      7.874       357        79.82       656
80.01--85.00                         60      22,910,981       8.45      8.148       356        84.39       619
85.01--90.00                         70      28,007,810      10.33      8.073       355        89.41       637
90.01--95.00                         31      10,403,773       3.84      8.742       356        94.73       648
95.01--100.00                       168      15,391,571       5.68     11.149       201        99.99       658
----------------------------------------------------------------------------------------------------------------
Total:                              915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------------------


Minimum: 18.18
Maximum: 100.00
Weighted Average: 80.11

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                218      26,461,064       9.76      9.671       260        86.56       647
<= 3.500                          5       1,377,782       0.51      6.630       356        69.85       658
3.501--4.000                      3       1,173,560       0.43      7.056       357        78.69       661
4.001--4.500                     10       3,355,437       1.24      7.469       358        77.55       656
4.501--5.000                     30      10,982,059       4.05      7.931       356        80.91       661
5.001--5.500                    107      42,813,540      15.80      7.786       356        82.11       654
5.501--6.000                     92      32,507,729      11.99      8.054       356        78.17       637
6.001--6.500                    167      60,464,433      22.31      7.804       357        79.94       649
6.501--7.000                    102      31,463,103      11.61      7.939       357        75.88       630
7.001--7.500                    108      35,105,679      12.95      8.099       357        78.87       634
7.501--8.000                     47      15,493,520       5.72      8.826       357        79.77       614
8.001--8.500                     23       8,640,879       3.19      9.095       357        79.80       586
8.501--9.000                      3       1,212,404       0.45      9.487       358        93.70       649
----------------------------------------------------------------------------------------------------------
Total:                          915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 8.750
Non-Zero Weighted Average: 6.331

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     218      26,461,064       9.76      9.671        260       86.56       647
5.501--6.000                           6       2,063,566       0.76      6.795        354       75.96       649
6.001--6.500                          22       7,893,441       2.91      6.303        357       77.62       658
6.501--7.000                          66      23,776,149       8.77      6.859        356       78.36       659
7.001--7.500                         104      36,702,598      13.54      7.307        356       79.15       654
7.501--8.000                         210      73,906,168      27.27      7.807        357       79.28       650
8.001--8.500                         112      39,732,454      14.66      8.271        356       80.33       637
8.501--9.000                          90      29,647,848      10.94      8.785        357       78.97       610
9.001--9.500                          42      16,645,154       6.14      9.250        357       80.37       635
9.501--10.000                         28       9,693,378       3.58      9.781        356       82.28       579
10.001 -10.500                        11       3,356,621       1.24     10.335        357       82.29       612
10.501--11.000                         3         492,985       0.18     10.849        357       77.18       626
11.001--11.500                         3         679,764       0.25     11.159        356       62.94       561
----------------------------------------------------------------------------------------------------------------
Total:                               915     271,051,190     100.00      8.166        347       80.11       641
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 11.250
Non-Zero Weighted Average: 7.996

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         218      26,461,064       9.76      9.671       260        86.56      647
<= 12.500                                 28      10,238,104       3.78      6.786       355        76.05      654
12.501--13.000                            30      12,522,809       4.62      7.593       356        82.57      659
13.001--13.500                            38      14,015,982       5.17      7.350       356        80.05      644
13.501--14.000                            75      26,402,585       9.74      7.325       356        78.19      647
14.001--14.500                           106      37,247,525      13.74      7.517       356        79.13      650
14.501--15.000                           179      62,460,326      23.04      7.876       357        78.96      650
15.001--15.500                            92      32,111,793      11.85      8.370       357        79.76      637
15.501--16.000                            79      24,734,856       9.13      8.795       357        78.74      604
16.001--16.500                            34      13,928,856       5.14      9.264       357        81.80      643
16.501--17.000                            23       7,674,336       2.83      9.769       357        82.57      574
17.001--17.500                             8       2,238,082       0.83     10.307       358        83.89      603
17.501--18.000                             3         492,985       0.18     10.849       357        77.18      626
18.001--18.500                             2         521,888       0.19     11.176       356        69.86      563
---------------------------------------------------------------------------------------------------------------------
Total:                                   915     271,051,190     100.00      8.166       347        80.11      641
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 18.250
Non-Zero Weighted Average: 14.653

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date         Date        Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans              218      26,461,064       9.76      9.671       260        86.56       647
1.500                          72      23,849,314       8.80      8.080       357        78.13       636
2.000                         224      81,739,986      30.16      8.033       357        79.69       644
3.000                         400     138,680,825      51.16      7.972       356        79.47       638
5.000                           1         320,000       0.12      8.000       357        80.00       656
----------------------------------------------------------------------------------------------------------
Total:                        915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 5.000
Non-Zero Weighted Average: 2.522

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date         Date        Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 218      26,461,064       9.76      9.671       260        86.56       647
1.000                            241      89,332,314      32.96      7.960       355        79.95       636
1.500                            449     152,776,954      56.36      8.034       357        79.17       642
2.000                              7       2,480,858       0.92      7.689       352        74.56       676
-------------------------------------------------------------------------------------------------------------
Total:                           915     271,051,190     100.00      8.166       347        80.11       641
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.322

MONTHS TO NEXT RATE ADJUSTMENT



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Months to Next Rate Adjustment          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         218      26,461,064       9.76      9.671       260        86.56       647
14                                         6       2,683,813       0.99      7.102       350        79.84       689
15                                         6       1,801,424       0.66      7.830       351        75.74       654
16                                         8       3,014,305       1.11      8.031       352        82.44       626
17                                        21       7,697,209       2.84      7.778       353        82.04       635
18                                        21       8,029,638       2.96      7.841       354        81.98       617
19                                        45      17,321,813       6.39      7.988       355        80.74       642
20                                       137      50,545,675      18.65      8.018       356        78.99       638
21                                       148      52,881,905      19.51      8.092       357        79.06       640
22                                       212      70,847,522      26.14      8.053       358        78.87       643
23                                        18       5,926,636       2.19      7.998       359        82.58       640
26                                         1         343,599       0.13      7.350       350        79.45       609
27                                         1         620,450       0.23      8.750       351        80.00       629
31                                         3         897,673       0.33      8.260       355        86.34       629
32                                         8       3,506,629       1.29      7.599       356        81.61       662
33                                        28       8,017,890       2.96      7.832       357        80.42       639
34                                        30       9,418,277       3.47      8.033       358        78.02       635
35                                         1         244,825       0.09      7.750       359        54.54       619
54                                         1         163,942       0.06      6.950       354        55.00       686
57                                         1         320,000       0.12      8.000       357        80.00       656
58                                         1         306,900       0.11      5.700       358        52.93       643
---------------------------------------------------------------------------------------------------------------------
Total:                                   915     271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date         Date        Gross    Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                      915     271,051,190     100.00      8.166       347        80.11       641
------------------------------------------------------------------------------------------------------------
Total:                          915     271,051,190     100.00      8.166       347        80.11       641
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 1

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of         Date         Date        Gross    Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------

Primary         857      252,871,275      93.29      8.116       346        80.12       640
Investment       52       16,204,407       5.98      8.849       356        79.67       649
Second Home       6        1,975,508       0.73      8.944       358        82.57       665
---------------------------------------------------------------------------------------------
Total:          915      271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date        Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Property Type            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       747     215,853,773      79.64      8.127       347        79.95      639
Condo                          79      22,100,045       8.15      8.257       348        81.28      649
2-4 Family                     56      20,768,227       7.66      8.512       345        78.57      645
Planned Unit Development       33      12,329,144       4.55      8.103       347        83.30      649
----------------------------------------------------------------------------------------------------------
Total:                        915     271,051,190     100.00      8.166       347        80.11      641
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of         Date         Date        Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Loan Purpose          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Purchase                  525     143,005,704      52.76      8.256       340        82.53       664
Refinance--Cashout        364     119,866,722      44.22      8.103       355        77.41       613
Refinance--Rate Term       26       8,178,764       3.02      7.518       354        77.19       636
------------------------------------------------------------------------------------------------------
Total:                    915     271,051,190     100.00      8.166       347        80.11       641
------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

Stated Documentation         587     173,926,946      64.17      8.352       346        80.26       649
Full Documentation           279      82,474,908      30.43      7.810       349        79.59       624
Limited Documentation         49      14,649,336       5.40      7.967       345        81.20       631
---------------------------------------------------------------------------------------------------------
Total:                       915     271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

500--524                      39      10,347,027       3.82      9.172       356        67.26       513
525--549                      34       8,440,522       3.11      8.587       357        67.05       536
550--574                      39      11,675,005       4.31      8.555       355        76.66       562
575--599                      58      19,390,966       7.15      8.311       355        79.69       589
600--624                     163      49,365,498      18.21      8.162       347        80.87       613
625--649                     199      54,744,383      20.20      8.169       344        81.90       636
650--674                     170      48,922,711      18.05      8.045       345        81.14       661
675--699                     107      33,924,786      12.52      7.977       343        81.31       685
700--724                      49      16,331,550       6.03      7.894       349        83.40       711
725--749                      20       6,002,941       2.21      7.981       351        80.62       735
750--774                      25       8,110,349       2.99      7.944       348        80.60       760
775--799                       9       3,263,190       1.20      7.778       328        80.28       781
800 +                          3         532,261       0.20      7.565       293        86.32       808
---------------------------------------------------------------------------------------------------------
Total:                       915     271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 641

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             71      26,691,852       9.85      8.887       351        80.87       663
6                              1         400,000       0.15      7.625       358        80.00       740
12                            49      18,405,258       6.79      8.544       349        81.28       651
24                           566     174,549,674      64.40      8.002       350        80.09       637
36                           223      49,754,729      18.36      8.219       333        79.49       636
60                             5       1,249,676       0.46      8.232       358        73.41       618
---------------------------------------------------------------------------------------------------------
Total:                       915     271,051,190     100.00      8.166       347        80.11       641
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CALIFORNIA                                                 915 records
                                                           Balance: $271,051,190
--------------------------------------------------------------------------------

LIEN POSITION



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
      Lien           Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Position          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

1st Lien                743     256,026,083      94.46      7.982       356        78.98       640
2nd Lien                172      15,025,107       5.54     11.295       191        99.26       660
----------------------------------------------------------------------------------------------------
Total:                  915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

0                       677     182,181,362      67.21      8.384       343        79.81       631
36                        1         216,000       0.08      8.425       357        80.00       608
60                      236      88,333,828      32.59      7.716       356        80.73       661
120                       1         320,000       0.12      8.000       357        80.00       656
----------------------------------------------------------------------------------------------------
Total:                  915     271,051,190     100.00      8.166       347        80.11       641
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 2,110
Aggregate Principal Balance ($): 437,916,030
Weighted Average Current Mortgage Rate (%): 8.465
Non-Zero Weighted Average Margin (%): 6.408
Non-Zero Weighted Average Maximum Rate (%): 15.121
Weighted Average Stated Original Term (months): 358
Weighted Average Stated Remaining Term (months): 355
Weighted Average Combined Original LTV (%): 77.84
%First Liens: 99.24
%Owner Occupied: 93.28
%Purchase: 0.00
%Full Doc: 48.31
Non-Zero Weighted Average Credit Score: 603

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                      of         Date          Date      Gross     Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
--------------------------------------------------------------------------------------------------

Accredited            331      60,041,475      13.71      8.697       356        75.62       592
Chapel                  9       1,618,716       0.37      7.958       352        72.42       562
Encore                216      52,346,067      11.95      8.225       356        77.57       613
First Banc             24       4,858,047       1.11      8.483       351        75.02       571
First Horizon          74      13,337,243       3.05      8.886       356        80.25       616
First NLC             861     163,039,232      37.23      8.464       354        78.75       603
Flex Point             17       4,152,923       0.95      8.939       356        67.89       590
Funding America        10       1,686,505       0.39      8.637       355        73.68       595
Lenders Direct         22       4,866,621       1.11      8.267       338        76.20       600
Lime Financial         13       3,422,083       0.78      8.591       350        86.88       629
Mandalay                9       2,034,185       0.46      7.965       346        79.29       626
Master Financial       66      19,360,495       4.42      8.206       351        80.71       610
Maxim                   3         830,664       0.19      8.592       357        81.15       583
New Century           284      64,084,321      14.63      8.429       358        78.61       603
Quick Loan             33       8,487,809       1.94      8.186       356        72.46       588
Rose Mortgage         138      33,749,644       7.71      8.552       356        76.40       605
--------------------------------------------------------------------------------------------------
Total:              2,110     437,916,030     100.00      8.465       355        77.84       603
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of         Date          Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Product with IO term            Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                              6        427,337       0.10      7.947       117        65.90       638
Fixed--15 Year                             16      1,477,645       0.34      8.108       177        65.65       627
Fixed--20 Year                             13      1,128,638       0.26      8.164       237        69.24       618
Fixed--25 Year                              3        245,515       0.06      8.559       298        84.90       622
Fixed--30 Year                            319     45,260,682      10.34      8.521       357        76.12       614
Balloon--15/30                             25      2,087,227       0.48     10.947       175        92.37       667
Balloon--30/40                             46      9,284,207       2.12      7.876       357        75.79       618
ARM--2 Year/6 Month Balloon 30/40         426    114,722,135      26.20      8.365       357        79.28       601
ARM--3 Year/6 Month Balloon 30/40         123     26,338,856       6.01      8.369       357        79.07       599
ARM--1 Year/6 Month                         1        274,325       0.06      7.500       352        80.00       596
ARM--2 Year/6 Month                       615    120,419,372      27.50      8.768       357        75.72       589
ARM--3 Year/6 Month                       312     51,383,876      11.73      8.920       357        77.46       578
ARM--5 Year/6 Month                        10      1,640,728       0.37      8.680       356        75.26       620
Dual Amort--10/40--2 Year/6 Month           2        805,870       0.18      7.275       352        74.85       626
Interest Only ARM--2 Year/6 Month--
24 mo. IO term                              1        221,000       0.05      6.250       358        78.93       585
Interest Only ARM--3 Year/6 Month--
36 mo. IO term                              2        411,500       0.09      8.195       357        75.77       611
Interest Only Fixed--30 Year--60
mo. IO term                                11      3,936,185       0.90      7.431       357        76.72       656
Interest Only ARM--2 Year/6 Month--
60 mo. IO term                            136     44,960,935      10.27      7.809       356        81.12       639
Interest Only ARM--3 Year/6 Month--
60 mo. IO term                             38     11,320,598       2.59      7.650       357        81.53       651
Interest Only ARM--5 Year/6 Month--
60 mo. IO term                              4      1,238,400       0.28      6.837       358        75.53       683
Interest Only Fixed--30 Year--120
mo. IO term                                 1        331,000       0.08      6.750       357        79.95       638
---------------------------------------------------------------------------------------------------------------------
Total:                                  2,110    437,916,030     100.00      8.465       355        77.84       603
---------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of         Date          Date      Gross     Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Range of Gross Interest Rates (%)      Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                               3         876,576       0.20      5.888       355        64.94       648
6.000--6.999                             149      37,181,474       8.49      6.677       353        72.84       650
7.000--7.999                             542     134,436,699      30.70      7.627       356        77.83       623
8.000--8.999                             714     143,577,038      32.79      8.551       355        77.95       599
9.000--9.999                             466      90,090,407      20.57      9.536       356        79.40       573
10.000--10.999                           167      24,335,290       5.56     10.489       353        79.79       563
11.000--11.999                            52       6,076,319       1.39     11.412       337        73.48       562
12.000--12.999                            13       1,192,121       0.27     12.356       289        92.75       610
13.000--13.999                             4         150,108       0.03     13.731       309       100.00       641
---------------------------------------------------------------------------------------------------------------------
Total:                                 2,110     437,916,030     100.00      8.465       355        77.84       603
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

Minimum: 5.700
Maximum: 13.990
Weighted Average: 8.465

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                               1         15,194       0.00     13.400       358       100.00       648
25,001--50,000                         50      2,139,741       0.49     10.306       311        81.64       608
50,001--75,000                        146      9,422,868       2.15      9.652       337        76.54       592
75,001--100,000                       188     16,393,589       3.74      8.912       342        75.83       591
100,001--125,000                      236     26,812,402       6.12      8.759       349        74.91       588
125,001--150,000                      221     30,591,408       6.99      8.749       355        74.14       584
150,001--175,000                      207     33,551,670       7.66      8.682       357        74.62       593
175,001--200,000                      190     35,826,910       8.18      8.507       357        76.24       591
200,001--225,000                      150     31,937,684       7.29      8.346       356        77.67       604
225,001--250,000                      136     32,352,233       7.39      8.462       357        76.51       593
250,001--275,000                       98     25,769,340       5.88      8.329       357        78.68       595
275,001--300,000                       91     26,334,772       6.01      8.361       355        76.98       597
300,001--325,000                       77     24,015,753       5.48      8.248       357        79.07       607
325,001--350,000                       66     22,309,528       5.09      8.319       357        79.96       616
350,001--375,000                       39     14,065,120       3.21      8.292       357        77.83       626
375,001--400,000                       35     13,656,384       3.12      8.283       357        79.87       612
400,001--425,000                       37     15,212,250       3.47      8.242       357        82.20       616
425,001--450,000                       24     10,566,262       2.41      8.270       357        80.85       606
450,001--475,000                       16      7,369,669       1.68      7.885       357        78.32       612
475,001--500,000                       27     13,193,193       3.01      8.287       356        81.80       619
500,001--750,000                       70     41,982,033       9.59      8.220       357        81.46       629
750,001--1,000,000                      5      4,398,028       1.00      8.044       357        85.63       654
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Minimum: 15,194
Maximum: 1,000,000
Average: 207,543

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

120                                     6        427,337       0.10      7.947       117        65.90       638
180                                    41      3,564,872       0.81      9.771       176        81.29       651
240                                    13      1,128,638       0.26      8.164       237        69.24       618
300                                     3        245,515       0.06      8.559       298        84.90       622
360                                 2,047    432,549,667      98.77      8.456       357        77.84       602
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 358

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

109--120                                6        427,337       0.10      7.947       117        65.90       638
169--180                               41      3,564,872       0.81      9.771       176        81.29       651
229--240                               13      1,128,638       0.26      8.164       237        69.24       618
289--300                                3        245,515       0.06      8.559       298        84.90       622
349--360                            2,047    432,549,667      98.77      8.456       357        77.84       602
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 355

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

10.01--15.00                            1        149,735       0.03      6.625       358        14.63       668
15.01--20.00                            3        385,532       0.09      8.932       356        18.10       553
20.01--25.00                            6        952,051       0.22      7.360       323        23.73       597
25.01--30.00                            6        680,026       0.16      7.560       324        27.44       615
30.01--35.00                            7      1,092,686       0.25      7.593       358        32.40       638
35.01--40.00                           16      2,728,112       0.62      8.494       357        38.41       595
40.01--45.00                           35      5,340,188       1.22      8.043       353        42.47       584
45.01--50.00                           45      7,123,795       1.63      8.245       357        48.01       598
50.01--55.00                           48      8,891,944       2.03      8.326       353        52.87       577
55.01--60.00                           67     10,929,731       2.50      8.006       351        57.91       592
60.01--65.00                          113     21,401,882       4.89      8.639       355        63.40       571
65.01--70.00                          177     33,395,914       7.63      8.752       356        68.91       576
70.01--75.00                          254     52,214,848      11.92      8.498       355        73.92       575
75.01--80.00                          592    132,565,490      30.27      8.251       356        79.63       612
80.01--85.00                          322     67,831,455      15.49      8.604       356        84.51       604
85.01--90.00                          266     65,406,298      14.94      8.520       356        89.40       623
90.01--95.00                           89     20,360,865       4.65      8.641       355        94.69       637
95.01--100.00                          63      6,465,479       1.48      9.952       318        99.81       638
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 77.84

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      440     64,178,436      14.66      8.412       343        76.26       619
<= 3.500                               11      2,653,025       0.61      7.424       356        72.63       641
3.501--4.000                            8      1,907,145       0.44      7.254       358        77.68       636
4.001--4.500                           19      4,324,490       0.99      7.763       358        74.00       596
4.501--5.000                           41      9,021,892       2.06      8.168       357        76.48       613
5.001--5.500                          195     51,923,512      11.86      8.166       356        80.04       615
5.501--6.000                          305     67,440,901      15.40      8.553       357        77.93       599
6.001--6.500                          329     75,016,413      17.13      8.226       357        80.32       609
6.501--7.000                          279     63,530,540      14.51      8.605       357        75.73       593
7.001--7.500                          412     78,458,344      17.92      8.725       357        77.18       589
7.501--8.000                           42     10,980,311       2.51      9.007       357        77.73       592
8.001--8.500                           26      7,814,336       1.78      9.210       356        79.79       566
8.501--9.000                            3        666,685       0.15      9.739       357        93.89       624
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 8.875
Non-Zero Weighted Average: 6.408

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      440     64,178,436      14.66      8.412       343        76.26       619
5.501--6.000                            7      2,250,619       0.51      6.626       355        77.38       651
6.001--6.500                           32      8,798,037       2.01      6.475       357        74.46       635
6.501--7.000                           84     20,552,469       4.69      6.849       357        75.67       640
7.001--7.500                          152     39,321,205       8.98      7.342       357        77.68       630
7.501--8.000                          300     78,094,650      17.83      7.830       357        78.55       615
8.001--8.500                          232     55,259,381      12.62      8.306       357        78.95       610
8.501--9.000                          329     66,927,967      15.28      8.804       357        77.21       587
9.001--9.500                          176     37,372,374       8.53      9.297       357        79.61       585
9.501--10.000                         206     41,434,210       9.46      9.793       357        78.90       560
10.001 -10.500                         73     11,529,895       2.63     10.330       357        79.88       559
10.501--11.000                         53      8,149,824       1.86     10.759       357        79.12       565
11.001--11.500                         18      2,818,136       0.64     11.211       357        67.48       547
11.501--12.000                          5        718,334       0.16     11.751       358        65.31       518
12.001--12.500                          2        460,383       0.11     12.053       354        85.10       600
12.501--13.000                          1         50,111       0.01     12.530       357        85.00       542
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.530
Non-Zero Weighted Average: 8.466

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
   Range of Maximum Mortgage      Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Rates (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      440     64,178,436      14.66      8.412       343        76.26       619
<= 12.500                              39     12,267,345       2.80      6.835       356        75.35       631
12.501--13.000                         50     13,310,431       3.04      7.608       356        80.31       620
13.001--13.500                         65     17,466,551       3.99      7.348       357        77.26       625
13.501--14.000                        134     32,961,528       7.53      7.580       357        75.50       622
14.001--14.500                        157     39,586,272       9.04      7.688       357        77.75       628
14.501--15.000                        264     65,621,101      14.98      8.007       357        78.09       611
15.001--15.500                        207     47,489,579      10.84      8.504       357        79.40       606
15.501--16.000                        295     59,247,684      13.53      8.899       357        77.75       584
16.001--16.500                        144     30,213,120       6.90      9.326       357        79.92       583
16.501--17.000                        184     36,598,695       8.36      9.824       357        78.85       557
17.001--17.500                         66      9,826,842       2.24     10.367       357        78.27       551
17.501--18.000                         47      6,365,179       1.45     10.875       357        79.53       561
18.001--18.500                         14      1,901,703       0.43     11.226       357        70.86       544
18.501--19.000                          1         76,455       0.02     11.875       358        75.00       546
19.001--19.500                          2        460,383       0.11     12.053       354        85.10       600
23.501--24.000                          1        344,727       0.08      8.350       356        80.00       596
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.121

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      440     64,178,436      14.66      8.412       343        76.26       619
1.000                                   3        781,953       0.18      7.620       357        87.72       629
1.500                                 303     59,903,212      13.68      8.755       357        77.46       589
2.000                                 420    103,755,618      23.69      8.315       357        77.86       606
3.000                                 944    209,296,811      47.79      8.477       357        78.39       600
-----------------------------------------------------------------------------------------------------------------
Total:                              2,110    437,916,030     100.00      8.465       355        77.84       603
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 3.000
Non-Zero Weighted Average: 2.478

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     440     64,178,436      14.66      8.412       343        76.26       619
1.000                                492    124,596,041      28.45      8.368       356        77.99       604
1.500                              1,170    246,846,924      56.37      8.531       357        78.28       598
2.000                                  8      2,294,630       0.52      8.239       352        67.41       586
----------------------------------------------------------------------------------------------------------------
Total:                             2,110    437,916,030     100.00      8.465       355        77.84       603
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.336

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     440     64,178,436      14.66      8.412       343        76.26       619
4                                      1        274,325       0.06      7.500       352        80.00       596
14                                     4        800,471       0.18      8.021       350        79.90       551
15                                    10      1,947,251       0.44      8.203       351        73.52       581
16                                    24      5,647,512       1.29      8.103       352        76.93       607
17                                    27      6,965,664       1.59      8.286       353        81.45       611
18                                    35      8,514,025       1.94      8.608       354        78.16       599
19                                    73     19,290,655       4.41      8.315       355        77.74       601
20                                   213     55,370,992      12.64      8.314       356        78.05       608
21                                   306     72,965,186      16.66      8.511       357        78.03       603
22                                   402     91,315,520      20.85      8.518       358        77.82       598
23                                    85     18,022,036       4.12      8.477       359        78.94       595
24                                     1        290,000       0.07      7.700       360        71.08       622
26                                     1        343,599       0.08      7.350       350        79.45       609
28                                     2        358,456       0.08      8.226       352        82.66       614
29                                     1         67,233       0.02      8.940       353        90.00       657
30                                     4        715,201       0.16      8.406       354        83.17       588
31                                    13      2,467,572       0.56      8.877       355        78.59       572
32                                    38      8,281,824       1.89      8.234       356        77.85       613
33                                   190     34,564,848       7.89      8.630       357        78.92       588
34                                   213     40,417,627       9.23      8.635       358        78.14       596
35                                    13      2,238,469       0.51      8.594       359        75.82       589
54                                     1        163,942       0.04      6.950       354        55.00       686
55                                     2        750,831       0.17      8.819       355        76.48       578
56                                     1        125,744       0.03      9.400       356        86.90       605
57                                     2        294,402       0.07      9.223       357        92.24       690
58                                     4      1,100,245       0.25      6.613       358        69.64       661
59                                     4        443,963       0.10      8.500       359        80.83       699
---------------------------------------------------------------------------------------------------------------
Total:                             2,110    437,916,030     100.00      8.465       355        77.84       603
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

California                                 364    119,866,722      27.37      8.103       355        77.41       613
Florida                                    318     61,141,911      13.96      8.489       357        75.69       592
Illinois                                   181     33,270,821       7.60      8.853       354        81.26       599
New York                                    76     21,292,441       4.86      8.180       355        72.05       618
Arizona                                    101     19,476,435       4.45      8.552       356        77.30       591
Maryland                                    80     18,890,774       4.31      8.349       357        77.55       606
Massachusetts                               63     15,000,496       3.43      8.765       356        81.36       606
New Jersey                                  60     14,976,787       3.42      9.072       357        75.32       594
Virginia                                    66     11,028,812       2.52      8.709       357        75.81       595
Washington                                  56     10,675,115       2.44      8.299       355        79.63       584
Rhode Island                                47     10,030,222       2.29      8.452       358        77.06       602
Texas                                       99      9,537,972       2.18      8.659       333        77.25       592
Pennsylvania                                70      9,069,999       2.07      8.856       353        79.11       596
Connecticut                                 41      8,701,036       1.99      8.341       357        77.49       604
Nevada                                      39      8,615,720       1.97      8.114       353        79.75       620
Other                                      449     66,340,767      15.15      8.768       355        80.64       599
----------------------------------------------------------------------------------------------------------------------
Total:                                   2,110    437,916,030     100.00      8.465       355        77.84       603
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 49

OCCUPANCY



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Primary                                  1,948    408,504,087      93.28      8.437       355        77.88       600
Investment                                 150     25,553,934       5.84      8.844       356        76.77       642
Second Home                                 12      3,858,009       0.88      8.985       357        81.01       613
----------------------------------------------------------------------------------------------------------------------
Total:                                   2,110    437,916,030     100.00      8.465       355        77.84       603
----------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                          of          Date         Date      Gross     Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Property Type                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Single Family Residence                  1,794    358,824,028      81.94      8.457       355        78.15       601
2-4 Family                                 147     38,226,993       8.73      8.637       356        75.00       615
Planned Unit Development                    89     24,665,843       5.63      8.294       356        77.78       605
Condo                                       80     16,199,166       3.70      8.515       356        77.77       615
----------------------------------------------------------------------------------------------------------------------
Total:                                   2,110    437,916,030     100.00      8.465       355        77.84       603
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout        2,110    437,916,030     100.00      8.465       355        77.84       603
-------------------------------------------------------------------------------------------------------
Total:                    2,110    437,916,030     100.00      8.465       355        77.84       603
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Full Documentation        1,134    211,544,484      48.31      8.283       355        78.22       594
Stated Documentation        900    208,848,377      47.69      8.665       355        77.26       613
Limited Documentation        76     17,523,169       4.00      8.285       354        80.27       599
-------------------------------------------------------------------------------------------------------
Total:                    2,110    437,916,030     100.00      8.465       355        77.84       603
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

500--524                    239     41,907,847       9.57      9.498       357        71.13       512
525--549                    255     45,336,934      10.35      9.199       357        72.36       537
550--574                    262     50,317,881      11.49      8.796       357        75.75       563
575--599                    309     62,780,053      14.34      8.534       355        78.82       587
600--624                    372     80,138,729      18.30      8.264       354        80.42       612
625--649                    312     68,891,665      15.73      8.066       355        80.00       637
650--674                    194     47,909,936      10.94      7.958       354        80.44       660
675--699                    104     25,213,963       5.76      7.709       351        79.64       686
700--724                     30      8,187,135       1.87      7.605       352        80.63       709
725--749                     17      3,580,734       0.82      7.835       355        82.16       735
750--774                     10      2,311,932       0.53      8.071       357        81.91       760
775--799                      4      1,014,380       0.23      8.289       303        77.05       784
800 +                         2        324,840       0.07      8.440       357        84.00       802
-------------------------------------------------------------------------------------------------------
Total:                    2,110    437,916,030     100.00      8.465       355        77.84       603
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 802
Non-Zero Weighted Average: 603

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CASH-OUT                                                 2,110 records
                                                           Balance: $437,916,030
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             657    122,770,811      28.04      8.843       354        79.17       601
6                               9      1,557,515       0.36      9.321       358        77.29       579
12                            108     31,586,408       7.21      8.280       353        75.49       621
24                            755    176,946,757      40.41      8.284       356        77.63       602
30                              3        678,428       0.15      9.880       357        79.66       574
36                            527     97,652,872      22.30      8.334       355        77.51       603
48                              1        145,964       0.03      8.500       359        36.50       529
60                             50      6,577,275       1.50      8.800       353        75.80       578
---------------------------------------------------------------------------------------------------------
Total:                      2,110    437,916,030     100.00      8.465       355        77.84       603
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                    2,061    434,568,438      99.24      8.444       356        77.70       602
2nd Lien                       49      3,347,592       0.76     11.261       249        96.34       663
---------------------------------------------------------------------------------------------------------
Total:                      2,110    437,916,030     100.00      8.465       355        77.84       603
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Interest Only Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                           1,917    375,496,412      85.75      8.588       355        77.36       596
24                              1        221,000       0.05      6.250       358        78.93       585
36                              2        411,500       0.09      8.195       357        75.77       611
60                            189     61,456,118      14.03      7.736       357        80.80       643
120                             1        331,000       0.08      6.750       357        79.95       638
---------------------------------------------------------------------------------------------------------
Total:                      2,110    437,916,030     100.00      8.465       355        77.84       603
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 270
Aggregate Principal Balance ($): 52,023,168
Weighted Average Current Mortgage Rate (%): 8.519
Non-Zero Weighted Average Margin (%): 6.191
Non-Zero Weighted Average Maximum Rate (%): 15.075
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 350
Weighted Average Combined Original LTV (%): 80.96
% First Liens: 95.70
% Owner Occupied: 88.06
% Purchase: 64.02
% Full Doc: 38.86
Non-Zero Weighted Average Credit Score: 641

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted   Weighted    Weighted              Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                      of          Date         Date       Gross    Remaining   Combined    Average     Back
                   Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
   Originator        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score      Ratio
-------------------------------------------------------------------------------------------------------------

Accredited             34       5,454,265     10.48       8.523       358       79.03       633        41.73
Chapel                  1         189,811      0.36       6.190       351       69.64       545        38.47
Encore                 22       5,471,898     10.52       8.832       356       78.00       619        42.97
First Banc              5         885,796      1.70       8.313       321       83.82       625        40.55
First Horizon           8       1,551,517      2.98       9.137       358       82.92       639        40.31
First NLC              97      15,310,051     29.43       8.621       344       81.95       643        43.63
Flex Point              1         169,662      0.33       9.500       356       40.96       521        49.84
Funding America         3         377,574      0.73       7.693       354       68.39       616        40.85
Lenders Direct          5         489,520      0.94       9.379       315       94.07       653        43.80
Lime Financial          6       1,490,599      2.87       8.745       347       82.09       633        45.38
Mandalay                1         299,955      0.58       7.990       355       80.00       577        43.99
Master Financial       26       4,652,014      8.94       8.109       338       84.31       666        42.85
Maxim                   2         254,697      0.49       8.843       322       84.00       598        33.14
New Century            51      14,241,761     27.38       8.277       358       81.13       656        41.74
Quick Loan              1         269,304      0.52       8.250       356       75.00       529        33.24
Rose Mortgage           7         914,746      1.76       9.906       356       75.46       587        41.71
-------------------------------------------------------------------------------------------------------------
Total:                270      52,023,168    100.00       8.519       350       80.96       641        42.52
-------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                               Number      Cut-off       Cut-off    Average    Average     Average   Weighted    Average
                                 of         Date          Date       Gross    Remaining   Combined    Average     Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
    Product with IO term        Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score      Ratio
------------------------------------------------------------------------------------------------------------------------

Fixed--20 Year                     1          29,209      0.06      11.700        231      100.00       615       36.03
Fixed--30 Year                    17       2,042,281      3.93       9.469        357       75.13       612       44.47
Balloon--15/30                    33       1,928,302      3.71      11.601        176       99.82       654       43.33
Balloon--30/40                     2         336,706      0.65       9.454        358       78.33       549       42.76
ARM--2 Year/6 Month Balloon
30/40                             66      16,680,483     32.06       8.353        357       81.97       646       42.84
ARM--3 Year/6 Month Balloon
30/40                             14       3,021,668      5.81       8.859        357       82.42       629       44.76
ARM--2 Year/6 Month               70      11,702,144     22.49       8.827        357       78.70       625       41.43
ARM--3 Year/6 Month               21       2,709,037      5.21       8.670        358       75.74       612       38.17
Interest Only ARM--2 Year/6
Month--60 mo. IO term             33       9,605,212     18.46       7.716        356       80.85       657       42.37
Interest Only ARM--3 Year/6
Month--60 mo. IO term             13       3,968,127      7.63       7.803        356       80.07       675       44.65
------------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168    100.00       8.519        350       80.96       641       42.52
------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted              Weighted
                               Number      Cut-off       Cut-off    Average    Average    Average    Weighted    Average
                                 of         Date          Date       Gross    Remaining   Combined    Average     Back
  Range of Gross Interest     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Rates (%)              Loans    Balance ($)    Balance     Rate(%)    (months)      LTV       Score      Ratio
------------------------------------------------------------------------------------------------------------------------

6.000--6.999                      15       3,338,076      6.42       6.772       356        79.53       662       43.63
7.000--7.999                      72      17,367,079     33.38       7.604       357        80.04       662       41.69
8.000--8.999                      83      18,227,292     35.04       8.544       357        80.20       639       42.89
9.000--9.999                      43       8,206,423     15.77       9.578       356        81.53       614       42.09
10.000--10.999                    27       2,562,531      4.93      10.554       326        85.19       608       43.69
11.000--11.999                    18       1,698,521      3.26      11.352       261        85.47       609       44.53
12.000--12.999                     8         455,230      0.88      12.334       191        99.64       624       43.35
13.000--13.999                     4         168,017      0.32      13.297       206       100.00       620       46.78
------------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168    100.00       8.519       350        80.96       641       42.52
------------------------------------------------------------------------------------------------------------------------


Minimum: 6.190
Maximum: 13.750
Weighted Average: 8.519

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                         % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date         Date       Gross    Remaining   Combined    Average     Back
   Range of Cut-off Date     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
  Principal Balances ($)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

25,001--50,000                   21         796,535       1.53     11.469       234        96.04       647       42.07
50,001--75,000                   24       1,505,792       2.89     10.276       267        90.34       655       39.08
75,001--100,000                  27       2,362,753       4.54      9.528       324        79.05       622       38.43
100,001--125,000                 23       2,615,738       5.03      8.624       350        78.48       631       38.98
125,001--150,000                 36       5,053,772       9.71      8.606       352        79.16       624       40.45
150,001--175,000                 26       4,238,285       8.15      8.907       357        75.56       612       41.35
175,001--200,000                 24       4,495,868       8.64      8.195       356        80.82       636       43.19
200,001--225,000                 14       2,982,021       5.73      8.263       357        85.03       650       41.48
225,001--250,000                  9       2,168,244       4.17      8.073       357        84.43       661       45.71
250,001--275,000                 13       3,397,221       6.53      7.930       356        81.00       645       44.30
275,001--300,000                 14       4,028,867       7.74      8.315       357        82.49       647       46.95
300,001--325,000                  7       2,229,171       4.28      8.210       357        81.98       649       42.85
325,001--350,000                  9       3,046,056       5.86      8.757       357        80.03       650       42.52
350,001--375,000                  2         733,223       1.41      8.006       356        80.00       668       41.36
375,001--400,000                  2         784,000       1.51      7.550       357        80.00       664       40.80
400,001--425,000                  1         412,000       0.79      7.565       357        80.00       672       48.21
425,001--450,000                  1         431,200       0.83      8.350       357        80.00       647       43.36
475,001--500,000                  1         500,000       0.96      8.115       357        79.37       658       49.96
500,001--750,000                 14       8,404,183      16.15      8.356       356        81.35       654       44.57
750,001--1,000,000                2       1,838,238       3.53      8.203       358        76.68       624       36.24
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Minimum: 29,188
Maximum: 988,617
Average: 192,678

STATED ORIGINAL TERM (MONTHS)



                                                         % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date         Date       Gross    Remaining   Combined    Average     Back
   Stated Original Term      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         (months)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

180                              33       1,928,302       3.71     11.601       176        99.82       654       43.33
240                               1          29,209       0.06     11.700       231       100.00       615       36.03
360                             236      50,065,657      96.24      8.399       357        80.23       641       42.50
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date         Date       Gross    Remaining   Combined    Average     Back
 Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      Terms (months)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

169--180                         33       1,928,302       3.71     11.601       176        99.82       654       43.33
229--240                          1          29,209       0.06     11.700       231       100.00       615       36.03
349--360                        236      50,065,657      96.24      8.399       357        80.23       641       42.50
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Minimum: 173
Maximum: 359
Weighted Average: 350

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date         Date       Gross    Remaining   Combined    Average     Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

20.01--25.00                      1          89,730       0.17      7.500       356        24.66       683       48.77
35.01--40.00                      2         109,574       0.21      8.287       354        40.00       556       39.42
40.01--45.00                      4         562,666       1.08      9.157       357        43.07       544       44.11
45.01--50.00                      3         317,162       0.61      8.387       356        48.07       623       36.73
50.01--55.00                      1          81,817       0.16      8.850       356        54.67       529       25.60
55.01--60.00                      4         593,331       1.14      8.120       357        58.67       604       42.15
60.01--65.00                      5         878,608       1.69      9.486       357        64.31       572       43.72
65.01--70.00                     11       2,185,179       4.20      9.481       356        68.38       569       43.38
70.01--75.00                      6       1,729,116       3.32      8.136       357        74.67       594       36.30
75.01--80.00                    138      31,472,817      60.50      8.199       357        79.91       656       42.32
80.01--85.00                     11       2,355,378       4.53      8.274       357        84.08       612       39.59
85.01--90.00                     32       7,403,687      14.23      8.584       357        89.45       636       44.78
90.01--95.00                      9       1,518,064       2.92      9.209       353        95.00       639       45.06
95.01--100.00                    43       2,726,040       5.24     11.035       230        99.77       662       43.63
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Minimum: 24.66
Maximum: 100.00
Weighted Average: 80.96

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date         Date       Gross    Remaining   Combined    Average     Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 53       4,336,498       8.34     10.431       276        86.53       626       43.77
<= 3.500                          2         387,789       0.75      6.990       357        80.00       677       45.33
3.501--4.000                      4         573,902       1.10      8.545       356        80.00       654       41.56
4.001--4.500                      2         403,512       0.78      7.333       357        80.00       732       41.14
4.501--5.000                     14       3,000,562       5.77      7.641       355        82.14       655       43.38
5.001--5.500                     26       6,590,782      12.67      8.292       356        82.59       636       42.13
5.501--6.000                     51       9,048,296      17.39      8.443       357        79.60       647       42.22
6.001--6.500                     53      14,745,877      28.34      8.303       357        81.16       647       41.50
6.501--7.000                     19       3,853,066       7.41      8.450       357        75.97       608       43.57
7.001--7.500                     40       7,545,747      14.50      8.628       357        79.92       644       42.96
7.501--8.000                      4         898,258       1.73      8.489       357        81.18       642       45.06
8.001--8.500                      2         638,878       1.23      8.909       357        80.00       617       46.70
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.490
Maximum: 8.170
Non-Zero Weighted Average: 6.191

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                of          Date         Date       Gross    Remaining   Combined    Average     Back
 Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Rates (%)             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 53       4,336,498       8.34     10.431       276        86.53       626       43.77
6.001--6.500                      3         595,018       1.14      6.625       355        78.91       624       39.02
6.501--7.000                     13       3,223,760       6.20      6.886       356        81.12       666       44.98
7.001--7.500                     23       5,536,829      10.64      7.337       356        79.18       681       42.71
7.501--8.000                     44      10,801,875      20.76      7.768       357        80.78       653       40.90
8.001--8.500                     36       8,314,420      15.98      8.276       357        81.79       645       43.57
8.501--9.000                     45       9,753,621      18.75      8.786       357        78.83       633       42.32
9.001--9.500                     15       2,806,220       5.39      9.310       357        78.57       629       37.02
9.501--10.000                    22       4,595,561       8.83      9.758       357        83.76       612       45.15
10.001 -10.500                    9       1,208,771       2.32     10.291       357        84.53       610       43.00
10.501--11.000                    6         705,725       1.36     10.841       356        73.07       547       44.74
11.501--12.000                    1         144,870       0.28     11.850       357        64.44       528       38.92
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.190
Maximum: 11.850
Non-Zero Weighted Average: 8.340

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                       Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                                         of         Date         Date       Gross     Remaining   Combined    Average     Back
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
--------------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          53       4,336,498       8.34     10.431       276        86.53       626       43.77
<= 12.500                                  3         473,701       0.91      6.836       354        71.88       604       37.38
12.501--13.000                             3       1,035,640       1.99      7.912       356        86.22       659       43.65
13.001--13.500                             7       2,237,779       4.30      7.795       357        83.59       632       43.73
13.501--14.000                            21       5,061,497       9.73      7.517       356        80.09       649       42.66
14.001--14.500                            22       5,622,800      10.81      7.444       357        78.96       674       42.44
14.501--15.000                            40       9,970,431      19.17      7.857       357        80.48       653       41.15
15.001--15.500                            33       6,521,960      12.54      8.361       357        80.35       647       43.33
15.501--16.000                            41       8,487,654      16.32      8.846       357        79.03       634       43.15
16.001--16.500                            15       2,669,022       5.13      9.359       357        81.83       639       36.91
16.501--17.000                            21       4,093,909       7.87      9.868       357        83.05       603       44.70
17.001--17.500                             6         960,212       1.85     10.293       357        84.01       613       43.23
17.501--18.000                             5         552,066       1.06     10.810       357        73.92       559       44.75
--------------------------------------------------------------------------------------------------------------------------------
Total:                                   270      52,023,168     100.00      8.519       350        80.96       641       42.52
--------------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.900
Maximum: 17.999
Non-Zero Weighted Average: 15.075

INITIAL PERIODIC CAP (%)



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                              of         Date         Date       Gross     Remaining   Combined    Average     Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans               53       4,336,498       8.34     10.431       276        86.53       626       43.77
1.500                          45       8,732,972      16.79      8.408       357        80.67       644       43.47
2.000                          59      15,975,782      30.71      8.332       357        80.40       645       40.74
3.000                         113      22,977,916      44.17      8.331       356        80.42       641       43.15
---------------------------------------------------------------------------------------------------------------------
Total:                        270      52,023,168     100.00      8.519       350        80.96       641       42.52
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.390

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)


                                                         % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                               Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                                 of         Date         Date       Gross     Remaining   Combined    Average     Back
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  53       4,336,498       8.34     10.431       276        86.53       626       43.77
1.000                             65      15,043,549      28.92      8.318       356        81.20       634       42.10
1.500                            150      32,406,943      62.29      8.340       357        80.30       648       42.54
2.000                              2         236,178       0.45     10.797       357        55.14       512       45.09
------------------------------------------------------------------------------------------------------------------------
Total:                           270      52,023,168     100.00      8.519       350        80.96       641       42.52
------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.345

MONTHS TO NEXT RATE ADJUSTMENT


                                                            % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                                    of         Date         Date       Gross     Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     53       4,336,498       8.34     10.431       276        86.53       626       43.77
14                                    1         110,847       0.21      7.750       350        80.00       639       43.85
15                                    3         507,672       0.98      6.865       351        76.13       600       41.66
16                                    4         596,278       1.15      7.368       352        82.33       677       40.68
17                                    2         222,779       0.43      7.798       353        80.00       736       35.69
18                                    8       1,376,837       2.65      8.045       354        75.70       624       40.91
19                                   19       4,177,710       8.03      8.087       355        83.24       637       43.38
20                                   25       5,693,866      10.94      8.332       356        77.61       626       41.21
21                                   34       9,131,075      17.55      8.611       357        82.36       638       46.62
22                                   62      14,090,925      27.09      8.348       358        79.93       651       40.07
23                                   11       2,079,849       4.00      8.509       359        85.66       666       40.98
27                                    1         620,450       1.19      8.750       351        80.00       629       47.27
31                                    1         194,105       0.37      7.850       355        80.00       642       50.27
32                                    5       1,247,163       2.40      7.937       356        79.54       625       44.31
33                                   16       3,085,466       5.93      8.226       357        79.46       650       43.09
34                                   23       4,303,815       8.27      8.541       358        79.61       646       41.76
35                                    2         247,833       0.48      8.999       359        79.93       637       35.56
---------------------------------------------------------------------------------------------------------------------------
Total:                              270      52,023,168     100.00      8.519       350        80.96       641       42.52
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 35
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES


                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                                of         Date         Date       Gross     Remaining   Combined    Average     Back
Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

California                       79      22,100,045      42.48      8.257       348        81.28       649       43.44
Florida                          71      10,770,118      20.70      8.543       350        80.57       646       40.27
Illinois                         32       4,275,544       8.22      8.995       344        84.01       634       41.59
Massachusetts                    12       1,981,246       3.81      8.611       357        80.12       633       44.06
Hawaii                            5       1,830,435       3.52      8.906       358        85.92       677       47.48
Connecticut                      12       1,797,859       3.46      9.791       357        76.54       580       44.64
New Jersey                        3       1,666,456       3.20      7.993       357        74.91       630       39.49
Maryland                          6       1,124,808       2.16      8.294       357        83.36       617       44.07
Washington                        7         861,305       1.66      8.513       344        83.63       614       43.32
Virginia                          4         612,362       1.18      9.176       339        72.95       560       49.63
Nevada                            3         554,334       1.07      8.613       357        84.50       630       41.35
Texas                             3         516,164       0.99      8.707       358        82.14       694       42.08
Colorado                          4         406,525       0.78      8.102       342        84.53       711       42.81
New York                          3         398,461       0.77      7.834       358        80.00       664       43.95
Utah                              2         389,258       0.75      9.535       357        62.23       607       50.31
Other                            24       2,738,246       5.26      8.864       357        80.44       621       38.06
-----------------------------------------------------------------------------------------------------------------------
Total:                          270      52,023,168     100.00      8.519       350        80.96       641       42.52
-----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 30

OCCUPANCY



                                         % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
               Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                 of         Date         Date       Gross     Remaining   Combined    Average     Back
              Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
--------------------------------------------------------------------------------------------------------

Primary          245      45,811,751      88.06      8.421       349        80.83       641       42.67
Investment        19       3,347,282       6.43      9.330       358        82.81       642       41.44
Second Home        6       2,864,135       5.51      9.132       358        80.97       644       41.48
--------------------------------------------------------------------------------------------------------
Total:           270      52,023,168     100.00      8.519       350        80.96       641       42.52
--------------------------------------------------------------------------------------------------------


PROPERTY TYPE


                                           % of
                                          Mortgage
                                          Pool by
                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                 Number      Cut-off      Cut-off    Average     Average    Average    Weighted    Average
                   of         Date         Date       Gross     Remaining   Combined    Average     Back
                Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Property Type     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
----------------------------------------------------------------------------------------------------------

Condo              270      52,023,168     100.00      8.519       350        80.96       641       42.52
----------------------------------------------------------------------------------------------------------
Total:             270      52,023,168     100.00      8.519       350        80.96       641       42.52
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                  % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                          of          Date        Date        Gross    Remaining   Combined    Average     Back
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------

Purchase                  177      33,304,474     64.02       8.481       347        82.64       656       42.35
Refinance--Cashout         80      16,199,166     31.14       8.515       356        77.77       615       42.49
Refinance--Rate Term       13       2,519,529      4.84       9.052       357        79.41       612       45.07
----------------------------------------------------------------------------------------------------------------
Total:                    270      52,023,168    100.00       8.519       350        80.96       641       42.52
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                           of          Date        Date        Gross    Remaining   Combined    Average     Back
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
------------------------------------------------------------------------------------------------------------------

Stated Documentation       142      30,210,516     58.07       8.761       350        81.40       653       43.77
Full Documentation         114      20,216,742     38.86       8.148       352        79.71       622       41.14
Limited Documentation       14       1,595,911      3.07       8.634       326        88.67       669       36.70
------------------------------------------------------------------------------------------------------------------
Total:                     270      52,023,168    100.00       8.519       350        80.96       641       42.52
------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                          % of
                                        Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                  of          Date        Date        Gross    Remaining   Combined    Average     Back
               Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Credit Score     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------

500--524           14       2,018,170       3.88      9.698       357        70.17       512       41.57
525--549           12       2,213,114       4.25      9.635       356        69.61       540       41.31
550--574           10       1,944,009       3.74      8.759       357        82.39       560       44.53
575--599           17       2,650,078       5.09      8.937       352        79.42       590       39.62
600--624           43       7,350,258      14.13      8.798       343        81.38       614       42.76
625--649           64      12,872,943      24.74      8.487       350        82.16       636       42.15
650--674           46      10,904,600      20.96      8.206       350        82.53       661       44.99
675--699           31       6,217,266      11.95      8.220       354        80.98       688       40.24
700--724           15       2,310,460       4.44      8.139       345        84.80       710       40.59
725--749           13       1,910,665       3.67      8.031       338        83.72       734       42.96
750--774            4       1,315,605       2.53      7.830       358        80.00       759       44.23
775--799            1         316,000       0.61      8.350       358        80.00       784       45.41
---------------------------------------------------------------------------------------------------------
Total:            270      52,023,168     100.00      8.519       350        80.96       641       42.52
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 784
Non-Zero Weighted Average: 641

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET CONDOMINIUMS WITH DTI                                      270 records
                                                            Balance: $52,023,168
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of          Date        Date        Gross    Remaining   Combined    Average     Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------

0                             71      14,791,596      28.43      8.751       352        80.55       641       43.37
12                            16       3,293,573       6.33      8.336       357        78.36       640       37.04
24                           116      22,973,093      44.16      8.287       352        81.87       643       43.03
36                            66      10,793,063      20.75      8.729       341        80.42       641       42.06
60                             1         171,843       0.33      9.875       358        80.00       539       37.59
--------------------------------------------------------------------------------------------------------------------
Total:                       270      52,023,168     100.00      8.519       350        80.96       641       42.52
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                           % of
                                         Mortgage
                                          Pool by
                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                   of          Date        Date        Gross    Remaining   Combined    Average     Back
                Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Lien Position     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
----------------------------------------------------------------------------------------------------------

1st Lien           230      49,786,519      95.70      8.383       357        80.12       641       42.47
2nd Lien            40       2,236,649       4.30     11.545       199        99.82       653       43.71
----------------------------------------------------------------------------------------------------------
Total:             270      52,023,168     100.00      8.519       350        80.96       641       42.52
----------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                        of          Date        Date        Gross    Remaining   Combined    Average     Back
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------

0                       224      38,449,829      73.91      8.794       348        81.08       634       42.34
60                       46      13,573,339      26.09      7.741       356        80.62       663       43.05
---------------------------------------------------------------------------------------------------------------
Total:                  270      52,023,168     100.00      8.519       350        80.96       641       42.52
---------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,117
Aggregate Principal Balance ($): 198,521,952
Weighted Average Current Mortgage Rate (%): 8.493
Non-Zero Weighted Average Margin (%): 6.387
Non-Zero Weighted Average Maximum Rate (%): 15.064
Weighted Average Stated Original Term (months): 348
Weighted Average Stated Remaining Term (months): 345
Weighted Average Combined Original LTV (%): 82.76
% First Liens: 92.11
% Owner Occupied: 98.03
% Purchase: 97.19
% Full Doc: 29.26
Non-Zero Weighted Average Credit Score: 651

ORIGINATOR



                                                                   % of
                                                                 Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                           of          Date        Date        Gross    Remaining   Combined    Average
                                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
              Originator                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------------

Accredited                                  104     20,873,200      10.51      8.223         357      79.78       661
Chapel                                        5      1,059,930       0.53      7.951         343      80.90       638
Encore                                       38      9,438,309       4.75      8.317         356      82.78       658
First Banc                                   19      3,285,429       1.65      8.400         338      84.52       622
First Horizon                                59      8,622,256       4.34      9.277         357      86.10       608
First NLC                                   571     90,745,594      45.71      8.636         339      82.92       651
Funding America                              23      2,498,237       1.26      8.814         355      85.44       649
Lenders Direct                               17      2,497,992       1.26      9.019         315      85.20       647
Lime Financial                               16      2,745,695       1.38      7.706         347      81.55       653
Mandalay                                     15      1,973,714       0.99      8.694         289      87.21       673
Master Financial                             75     17,160,144       8.64      8.666         329      85.38       655
Maxim                                         7        572,001       0.29      9.311         316      84.61       624
New Century                                 158     35,242,164      17.75      8.028         358      81.27       652
Rose Mortgage                                10      1,807,286       0.91      8.996         358      84.23       661
-----------------------------------------------------------------------------------------------------------------------
Total:                                    1,117    198,521,952     100.00      8.493         345      82.76       651
-----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                   % of
                                                                 Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                           of          Date        Date        Gross    Remaining   Combined    Average
                                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
         Product with IO term             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                                1         47,536       0.02     10.250       118        80.00       598
Fixed--15 Year                                3        184,539       0.09     11.522       175        96.67       621
Fixed--20 Year                                2         60,082       0.03     11.849       234       100.00       623
Fixed--30 Year                               73      4,847,216       2.44      9.884       357        87.49       626
Balloon--15/30                              209     13,396,571       6.75     11.547       176        99.96       658
Balloon--30/40                               10      2,540,839       1.28      8.615       357        82.49       634
ARM--2 Year/6 Month Balloon 30/40           194     52,459,649      26.43      8.054       357        81.26       655
ARM--2 Year/6 Month Balloon 30/50             1        203,935       0.10      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40            46      9,714,882       4.89      8.493       357        80.35       646
ARM--2 Year/6 Month                         299     49,122,161      24.74      8.583       357        82.39       638
ARM--3 Year/6 Month                          91     12,634,827       6.36      8.859       357        81.39       632
ARM--5 Year/6 Month                           1        155,743       0.08      6.990       358        80.00       636
Dual Amort--10/40--2 Year/6 Month             1        135,481       0.07      6.700       351        80.00       657
Interest Only ARM--3 Year/6 Month--36         1        228,000       0.11      7.475       358        80.00       666
mo. IO term
Interest Only Fixed--30 Year--60              2        364,800       0.18      8.152       357        80.00       656
mo. IO term
Interest Only ARM--2 Year/6 Month--60       157     45,873,702      23.11      7.812       357        80.53       664
mo. IO term
Interest Only ARM--3 Year/6 Month--60        26      6,551,987       3.30      8.057       357        80.59       676
mo. IO term
-----------------------------------------------------------------------------------------------------------------------
Total:                                    1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                   % of
                                                                 Mortgage
                                                                  Pool by
                                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                           of          Date        Date        Gross    Remaining   Combined    Average
                                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Range of Gross Interest Rates (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------------

5.000--5.999                                  1        266,038       0.13      5.925       358        80.00       707
6.000--6.999                                 51     14,272,454       7.19      6.767       357        80.00       673
7.000--7.999                                302     76,189,001      38.38      7.640       357        80.00       664
8.000--8.999                                278     57,717,945      29.07      8.479       357        81.01       648
9.000--9.999                                165     25,588,860      12.89      9.440       352        84.48       628
10.000--10.999                              127     12,153,724       6.12     10.482       309        91.36       615
11.000--11.999                              116      8,424,532       4.24     11.585       209        99.06       636
12.000--12.999                               53      2,826,950       1.42     12.457       231        99.09       639
13.000--13.999                               22        974,114       0.49     13.366       200       100.00       629
14.000--14.999                                2        108,333       0.05     14.151       257       100.00       637
-----------------------------------------------------------------------------------------------------------------------
Total:                                    1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 14.240
Weighted Average: 8.493

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                              23        499,765      0.25      10.968       287        99.74       654
25,001--50,000                        105      4,046,713      2.04      11.660       224        98.56       638
50,001--75,000                        144      8,963,084      4.51      10.488       270        91.35       634
75,001--100,000                       116     10,102,575      5.09       9.767       313        88.46       629
100,001--125,000                      109     12,200,878      6.15       9.272       326        85.63       636
125,001--150,000                       97     13,280,009      6.69       8.748       344        82.75       645
150,001--175,000                       72     11,712,891      5.90       8.600       347        82.87       641
175,001--200,000                       71     13,341,664      6.72       8.520       357        81.40       646
200,001--225,000                       56     11,958,727      6.02       8.220       357        80.54       653
225,001--250,000                       59     13,971,274      7.04       8.174       357        80.66       648
250,001--275,000                       46     12,079,765      6.08       8.035       357        81.20       654
275,001--300,000                       37     10,650,849      5.37       8.145       357        81.16       647
300,001--325,000                       23      7,117,962      3.59       7.733       357        80.40       668
325,001--350,000                       27      9,080,178      4.57       8.077       357        83.36       660
350,001--375,000                       16      5,792,972      2.92       7.856       357        80.92       656
375,001--400,000                       25      9,686,176      4.88       7.862       357        80.20       666
400,001--425,000                       20      8,294,872      4.18       7.989       356        80.00       662
425,001--450,000                       19      8,342,615      4.20       7.621       357        80.27       641
450,001--475,000                       10      4,614,395      2.32       7.963       357        79.97       676
475,001--500,000                       14      6,872,687      3.46       7.984       357        80.55       673
500,001--750,000                       28     15,911,902      8.02       8.112       357        81.77       663
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952    100.00       8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 721,319
Average: 177,728

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

120                                     1         47,536       0.02     10.250       118        80.00       598
180                                   212     13,581,110       6.84     11.547       176        99.92       657
240                                     2         60,082       0.03     11.849       234       100.00       623
360                                   902    184,833,224      93.10      8.267       357        81.49       650
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 348

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest     Term      Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

109--120                                1         47,536       0.02     10.250       118        80.00       598
169--180                              212     13,581,110       6.84     11.547       176        99.92       657
229--240                                2         60,082       0.03     11.849       234       100.00       623
349--360                              902    184,833,224      93.10      8.267       357        81.49       650
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Minimum: 118
Maximum: 359
Weighted Average: 345

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest     Term      Original     FICO
           Ratios (%)              Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

30.01--35.00                            1        165,809       0.08      8.765       358        34.95       621
45.01--50.00                            2        257,615       0.13      7.530       358        47.35       725
50.01--55.00                            4        676,410       0.34      8.956       358        53.38       562
55.01--60.00                            1        233,539       0.12      8.140       357        60.00       564
60.01--65.00                            4        729,782       0.37      8.375       356        63.57       578
65.01--70.00                            4        455,081       0.23      8.085       357        67.99       597
70.01--75.00                            7        973,349       0.49      9.245       356        74.90       582
75.01--80.00                          667    151,183,964      76.15      8.013       357        79.97       658
80.01--85.00                           48      8,156,087       4.11      9.032       356        84.90       594
85.01--90.00                           62     10,823,052       5.45      9.385       357        89.98       611
90.01--95.00                           37      6,353,154       3.20      9.479       354        94.95       626
95.01--100.00                         280     18,514,110       9.33     11.285       225        99.98       657
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Minimum: 34.95
Maximum: 100.00
Weighted Average: 82.76

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      300     21,441,583      10.80     10.764       241        94.66       647
<= 3.500                                6        814,890       0.41      7.538       357        79.49       680
3.501--4.000                            6      1,268,015       0.64      7.430       357        80.00       699
4.001--4.500                           12      3,245,768       1.63      7.461       358        80.00       688
4.501--5.000                           38     10,643,884       5.36      8.043       356        81.37       670
5.001--5.500                           73     20,239,400      10.20      8.168       356        82.26       663
5.501--6.000                          123     22,311,020      11.24      8.265       357        81.61       641
6.001--6.500                          202     45,278,047      22.81      8.022       357        81.19       652
6.501--7.000                           88     19,961,230      10.05      7.758       357        80.60       663
7.001--7.500                          225     43,282,762      21.80      8.607       357        81.30       641
7.501--8.000                           31      7,082,136       3.57      8.768       357        81.27       629
8.001--8.500                            8      2,185,274       1.10      9.110       357        80.00       622
8.501--9.000                            3        647,987       0.33      9.239       355        88.59       616
9.001--9.500                            1         63,982       0.03     12.125       359        80.00       548
9.501--10.000                           1         55,974       0.03     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.460
Maximum: 9.999
Non-Zero Weighted Average: 6.387

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      300     21,441,583      10.80     10.764       241        94.66       647
5.501--6.000                            3        803,769       0.40      7.511       354        80.00       693
6.001--6.500                           11      2,613,758       1.32      6.516       356        80.00       665
6.501--7.000                           43     12,480,987       6.29      6.860       356        80.18       666
7.001--7.500                           90     24,301,402      12.24      7.317       357        79.94       667
7.501--8.000                          204     49,549,373      24.96      7.818       357        80.01       665
8.001--8.500                          143     31,518,238      15.88      8.271       357        80.24       653
8.501--9.000                          124     24,987,616      12.59      8.783       357        82.35       641
9.001--9.500                           69     13,713,753       6.91      9.232       357        82.83       638
9.501--10.000                          59      8,440,400       4.25      9.812       357        85.89       616
10.001 -10.500                         34      4,452,999       2.24     10.214       357        88.47       588
10.501--11.000                         27      3,127,740       1.58     10.756       357        88.29       568
11.001--11.500                          6        716,166       0.36     11.207       357        91.14       554
11.501--12.000                          1        181,968       0.09     11.900       358       100.00       576
12.001--12.500                          2        136,225       0.07     12.292       358        90.58       591
12.501--13.000                          1         55,974       0.03     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.207

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage   Principal     Principal   Interest      Term     Original     FICO
               (%)                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      300     21,441,583      10.80     10.764       241        94.66       647
<= 12.500                               4      1,149,891       0.58      7.021       354        81.01       729
12.501--13.000                         15      4,262,399       2.15      7.406       356        81.71       685
13.001--13.500                         24      6,366,987       3.21      7.348       356        81.14       651
13.501--14.000                         50     13,836,106       6.97      7.114       356        80.16       657
14.001--14.500                         90     24,443,217      12.31      7.445       357        80.13       664
14.501--15.000                        194     45,989,361      23.17      7.856       357        79.95       663
15.001--15.500                        136     28,889,451      14.55      8.309       357        79.97       652
15.501--16.000                        126     24,512,465      12.35      8.831       357        82.52       641
16.001--16.500                         66     12,570,664       6.33      9.270       357        83.01       641
16.501--17.000                         50      7,288,522       3.67      9.825       357        86.04       617
17.001--17.500                         28      3,854,477       1.94     10.218       358        89.13       590
17.501--18.000                         24      2,826,496       1.42     10.759       358        88.12       565
18.001--18.500                          6        716,166       0.36     11.207       357        91.14       554
18.501--19.000                          1        181,968       0.09     11.900       358       100.00       576
19.001--19.500                          2        136,225       0.07     12.292       358        90.58       591
19.501--20.000                          1         55,974       0.03     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.700
Maximum: 19.999
Non-Zero Weighted Average: 15.064

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      300     21,441,583      10.80     10.764       241        94.66       647
1.500                                 125     26,715,270      13.46      8.131       357        80.04       659
2.000                                 161     37,527,480      18.90      8.108       358        81.73       652
3.000                                 531    112,837,618      56.84      8.274       357        81.48       649
----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.562

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      300     21,441,583      10.80     10.764       241     94.66        647
1.000                                 202     45,019,525      22.68      8.351       356     82.91        644
1.500                                 612    131,605,792      66.29      8.171       357     80.77        654
2.000                                   3        455,052       0.23      8.401       355     80.00        676
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345     82.76        651
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.374

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date         Date        Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      300     21,441,583      10.80     10.764       241        94.66       647
14                                      2        233,653       0.12      7.159       350        79.98       652
15                                      7      1,582,746       0.80      7.293       351        80.41       658
16                                      8      1,480,180       0.75      7.672       352        81.50       648
17                                     15      4,206,761       2.12      7.821       353        81.00       646
18                                     22      4,386,791       2.21      8.193       354        81.76       631
19                                     48     12,074,331       6.08      8.141       355        81.57       647
20                                     81     19,037,333       9.59      8.228       356        81.69       654
21                                    151     35,585,953      17.93      8.163       357        81.29       652
22                                    288     62,627,984      31.55      8.157       358        81.40       653
23                                     30      6,579,197       3.31      8.420       359        81.30       655
28                                      1         91,129       0.05      9.250       352        80.00       628
30                                      1         89,178       0.04      7.300       354        80.00       597
31                                      3        419,333       0.21      8.031       355        80.40       664
32                                     17      3,104,848       1.56      8.442       356        79.69       643
33                                     48      8,678,744       4.37      8.537       357        82.70       650
34                                     89     15,894,329       8.01      8.566       358        80.46       648
35                                      5        852,136       0.43      8.946       359        74.06       603
58                                      1        155,743       0.08      6.990       358        80.00       636
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date         Date       Gross     Remaining   Combined    Average
  Geographic Distribution of      Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Mortgaged Properties          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

California                            328     86,082,130      43.36      8.192       340        82.21       663
Florida                               184     28,209,899      14.21      8.750       340        83.44       647
Illinois                               65      9,805,155       4.94      8.808       343        82.55       655
New York                               29      7,486,590       3.77      8.285       358        81.97       663
Texas                                  71      6,077,368       3.06      8.713       353        85.00       639
Arizona                                38      5,767,985       2.91      8.416       347        81.43       654
Nevada                                 26      4,869,824       2.45      8.124       346        84.18       642
Maryland                               21      4,238,668       2.14      8.478       349        80.99       634
Virginia                               19      3,523,143       1.77      8.376       340        81.96       643
Georgia                                23      3,192,089       1.61      8.489       357        82.81       648
Massachusetts                          18      3,183,809       1.60      8.691       348        82.48       638
Rhode Island                           16      2,748,325       1.38      9.083       353        81.74       658
Michigan                               32      2,735,025       1.38      9.319       351        82.83       610
Hawaii                                  6      2,641,122       1.33      8.044       358        81.31       683
Pennsylvania                           26      2,569,229       1.29      8.914       358        84.28       637
Other                                 215     25,391,589      12.79      9.044       352        84.17       619
----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 44

OCCUPANCY



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Occupancy                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Primary                             1,092    194,608,124      98.03      8.480       344        82.63       650
Investment                             16      2,506,671       1.26      9.314       358        89.49       642
Second Home                             9      1,407,157       0.71      8.767       358        88.39       719
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345        82.76       651
-----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of         Date         Date       Gross     Remaining   Combined   Average
                                  Mortgage   Principal     Principal   Interest     Term      Original     FICO
         Property Type              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Single Family Residence               868    149,958,707      75.54      8.515       344     82.88        647
Condo                                 111     18,968,906       9.56      8.439       345     82.60        662
2-4 Family                             72     16,579,173       8.35      8.693       341     82.65        674
Planned Unit Development               66     13,015,165       6.56      8.052       350     81.64        644
-----------------------------------------------------------------------------------------------------------------
Total:                              1,117    198,521,952     100.00      8.493       345     82.76        651
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Purchase                 1,086    192,950,255      97.19      8.490       344        82.80       652
Refinance--Cashout          22      4,500,692       2.27      8.438       354        80.13       614
Refinance--Rate Term         9      1,071,005       0.54      9.141       358        85.54       583
------------------------------------------------------------------------------------------------------
Total:                   1,117    198,521,952     100.00      8.493       345        82.76       651
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Stated Documentation       702    131,926,341      66.45      8.595       343        82.59       665
Full Documentation         370     58,088,874      29.26      8.304       348        83.08       621
Limited Documentation       45      8,506,737       4.29      8.197       334        83.15       638
------------------------------------------------------------------------------------------------------
Total:                   1,117    198,521,952     100.00      8.493       345        82.76       651
------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

500--524                    20      2,067,852       1.04       9.881      354        80.20       513
525--549                    23      2,626,230       1.32      10.072      354        79.44       536
550--574                    50      7,050,253       3.55       9.474      357        84.65       561
575--599                    79     10,202,411       5.14       9.276      350        86.06       589
600--624                   200     37,148,380      18.71       8.475      346        82.33       614
625--649                   289     49,040,278      24.70       8.583      342        82.95       637
650--674                   178     33,600,098      16.93       8.380      339        82.68       661
675--699                   124     23,686,244      11.93       8.222      343        82.61       686
700--724                    75     15,424,928       7.77       8.133      345        82.86       711
725--749                    41      8,048,177       4.05       7.838      351        81.78       735
750--774                    27      7,206,456       3.63       8.029      348        80.93       760
775--799                     9      2,224,153       1.12       7.875      349        81.14       783
800 +                        2        196,492       0.10       8.532      285        93.96       809
------------------------------------------------------------------------------------------------------
Total:                   1,117    198,521,952     100.00       8.493      345        82.76       651
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 651

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIRST TIME HOME BUYER                                    1,117 records
                                                           Balance: $198,521,952
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             254     38,112,490      19.20       8.934      346        83.74       650
6                               3        833,871       0.42       8.201      355        79.93       675
12                             63     16,141,488       8.13       8.523      351        81.17       664
24                            520    107,537,425      54.17       8.162      351        82.19       650
30                              1        161,858       0.08      10.050      358        90.00       601
36                            270     35,041,471      17.65       8.993      321        84.21       649
60                              6        693,349       0.35       9.446      358        81.57       565
---------------------------------------------------------------------------------------------------------
Total:                      1,117    198,521,952     100.00       8.493      345        82.76       651
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined   Average
          Lien            Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                      855    182,850,479      92.11       8.231      357        81.28       650
2nd Lien                      262     15,671,473       7.89      11.538      200        99.96       656
---------------------------------------------------------------------------------------------------------
Total:                      1,117    198,521,952     100.00       8.493      345        82.76       651
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             931    145,503,462      73.29      8.729       340        83.57       645
36                              1        228,000       0.11      7.475       358        80.00       666
60                            185     52,790,489      26.59      7.845       357        80.53       665
---------------------------------------------------------------------------------------------------------
Total:                      1,117    198,521,952     100.00      8.493       345        82.76       651
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 982
Aggregate Principal Balance ($): 110,194,672
Weighted Average Current Mortgage Rate (%): 9.118
Non-Zero Weighted Average Margin (%): 0.000
Non-Zero Weighted Average Maximum Rate (%): 0.000
Weighted Average Stated Original Term (months): 314
Weighted Average Stated Remaining Term (months): 311
Weighted Average Combined Original LTV (%): 82.69
% First Liens: 73.53
% Owner Occupied: 94.66
% Purchase: 32.33
% Full Doc: 50.05
Non-Zero Weighted Average Credit Score: 631

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited           111       17,218,359     15.63       8.319        352       72.21       623
Chapel                 1           48,043      0.04      12.900        173      100.00       634
Encore                54       10,230,057      9.28       8.352        353       78.25       620
First Banc            19        1,503,611      1.36      10.633        242       83.98       604
First Horizon         40        5,041,431      4.58       8.657        352       81.69       620
First NLC            518       48,730,449     44.22       9.296        298       85.77       633
Flex Point             4          598,157      0.54       7.552        356       70.46       604
Funding America       28        2,077,490      1.89      10.151        342       85.42       622
Lenders Direct        18        1,363,065      1.24      10.238        189       84.34       672
Lime Financial        19        1,467,414      1.33      10.503        236       96.55       653
Mandalay              20        1,668,030      1.51      10.965        195       98.35       686
Master Financial      73        7,682,535      6.97      10.531        222       93.92       650
Maxim                  6          287,932      0.26      11.694        226       97.29       622
New Century           22        2,696,898      2.45       8.426        353       78.95       656
Quick Loan             4        1,002,745      0.91       7.378        356       69.90       593
Rose Mortgage         45        8,578,457      7.78       8.763        350       78.42       625
-------------------------------------------------------------------------------------------------
Total:               982      110,194,672    100.00       9.118        311       82.69       631
-------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                           7         496,311       0.45      8.252       117        64.85       631
Fixed--15 Year                          23       1,940,686       1.76      8.448       177        69.52       634
Fixed--20 Year                          24       1,990,559       1.81      8.449       237        75.91       634
Fixed--25 Year                           3         245,515       0.22      8.559       298        84.90       622
Fixed--30 Year                         489      62,069,627      56.33      8.684       357        78.47       620
Balloon--15/30                         354      23,914,670      21.70     11.437       176        99.11       657
Balloon--30/40                          67      14,725,319      13.36      7.933       357        78.80       627
Interest Only Fixed--30 Year--60
   mo. IO term                          14       4,480,985       4.07      7.527       357        77.12       657
Interest Only Fixed--30 Year--120
   mo. IO term                           1         331,000       0.30      6.750       357        79.95       638
-------------------------------------------------------------------------------------------------------------------
Total:                                 982     110,194,672     100.00      9.118       311        82.69       631
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            55      13,464,554      12.22      6.755       347         68.38      677
7.000--7.999                           133      24,816,585      22.52      7.544       349         76.58      641
8.000--8.999                           192      25,051,441      22.73      8.531       347         79.16      611
9.000--9.999                           132      13,354,023      12.12      9.581       331         83.48      598
10.000--10.999                         142      11,101,766      10.07     10.594       255         91.80      637
11.000--11.999                         199      15,180,304      13.78     11.573       225         95.74      634
12.000--12.999                          90       5,480,080       4.97     12.427       221         99.74      634
13.000--13.999                          37       1,637,585       1.49     13.410       219         99.71      628
14.000--14.999                           2         108,333       0.10     14.151       257        100.00      637
-------------------------------------------------------------------------------------------------------------------
Total:                                 982     110,194,672     100.00      9.118       311         82.69      631
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.125
Maximum: 14.240
Weighted Average: 9.118

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date        Date       Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest     Term      Original     FICO
           Balances ($)             Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                             31         673,662      0.61      11.023       269        99.81       650
25,001--50,000                       191       7,479,765      6.79      11.382       239        95.85       638
50,001--75,000                       202      12,698,237     11.52      10.706       247        91.24       637
75,001--100,000                      163      14,250,549     12.93       9.724       279        86.00       629
100,001--125,000                     117      13,152,567     11.94       9.678       289        84.74       619
125,001--150,000                      71       9,726,909      8.83       9.044       322        81.76       612
150,001--175,000                      58       9,408,562      8.54       8.531       335        79.60       633
175,001--200,000                      33       6,226,792      5.65       8.429       351        78.10       620
200,001--225,000                      19       4,035,087      3.66       7.737       348        72.95       625
225,001--250,000                      25       5,953,953      5.40       8.286       353        72.64       615
250,001--275,000                       7       1,817,319      1.65       8.205       357        72.59       616
275,001--300,000                      14       4,094,433      3.72       7.978       343        76.55       627
300,001--325,000                      10       3,104,749      2.82       8.196       357        78.53       652
325,001--350,000                       7       2,350,470      2.13       7.292       357        82.66       641
350,001--375,000                       9       3,249,959      2.95       7.795       356        79.17       641
375,001--400,000                       5       1,958,165      1.78       7.566       356        64.32       662
400,001--425,000                       5       2,039,227      1.85       7.263       357        78.92       645
425,001--450,000                       1         449,633      0.41       8.200       357        90.00       588
450,001--475,000                       1         475,000      0.43       9.150       358        86.36       673
475,001--500,000                       3       1,462,939      1.33       7.316       356        85.31       625
500,001--750,000                      10       5,586,693      5.07       8.094       357        78.48       676
-----------------------------------------------------------------------------------------------------------------
Total:                               982     110,194,672    100.00       9.118       311        82.69       631
-----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 650,759
Average: 112,215

STATED ORIGINAL TERM (MONTHS)



                                                           % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                  of          Date         Date       Gross     Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest     Term      Original     FICO
Stated Original Term (months)     Loans     Balance ($)   Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------

120                                   7         496,311      0.45       8.252       117        64.85       631
180                                 377      25,855,356     23.46      11.213       176        96.89       656
240                                  24       1,990,559      1.81       8.449       237        75.91       634
300                                   3         245,515      0.22       8.559       298        84.90       622
360                                 571      81,606,930     74.06       8.477       357        78.46       623
----------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672    100.00       9.118       311        82.69       631
----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 314

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date        Date       Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest     Term      Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

109--120                               7         496,311       0.45      8.252        117       64.85       631
169--180                             377      25,855,356      23.46     11.213        176       96.89       656
229--240                              24       1,990,559       1.81      8.449        237       75.91       634
289--300                               3         245,515       0.22      8.559        298       84.90       622
337--348                               1          73,261       0.07     10.240        348       99.97       615
349--360                             570      81,533,670      73.99      8.476        357       78.44       623
-----------------------------------------------------------------------------------------------------------------
Total:                               982     110,194,672     100.00      9.118        311       82.69       631
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 359
Weighted Average: 311

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date        Date       Gross     Remaining   Combined   Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest     Term      Original     FICO
         Ratios (%)                 Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

15.01--20.00                           1          26,276      0.02      11.800        357       16.97      518
20.01--25.00                           4         491,941      0.45       7.141        292       22.85      665
25.01--30.00                           2         224,053      0.20       7.139        258       27.44      668
30.01--35.00                           5         820,389      0.74       7.220        358       32.50      660
35.01--40.00                           4         706,845      0.64       8.693        358       37.32      591
40.01--45.00                          12       1,634,230      1.48       7.649        346       42.15      616
45.01--50.00                          14       2,094,298      1.90       7.700        357       48.17      631
50.01--55.00                           6         889,737      0.81       8.564        286       53.31      586
55.01--60.00                          21       3,230,754      2.93       7.381        331       57.78      624
60.01--65.00                          22       2,993,313      2.72       8.709        341       63.51      578
65.01--70.00                          39       6,476,654      5.88       8.320        349       68.31      625
70.01--75.00                          55       7,795,752      7.07       8.124        338       73.68      607
75.01--80.00                         156      25,447,537     23.09       8.186        351       79.62      633
80.01--85.00                          77      11,963,705     10.86       8.415        350       84.27      616
85.01--90.00                          66      11,002,531      9.98       8.627        351       89.33      624
90.01--95.00                          37       4,164,623      3.78       8.912        333       94.09      630
95.01--100.00                        461      30,232,035     27.44      11.340        218       99.95      653
-----------------------------------------------------------------------------------------------------------------
Total:                               982     110,194,672    100.00       9.118        311       82.69      631
-----------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 82.69

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date         Date        Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                982     110,194,672     100.00      9.118       311        82.69      631
------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69      631
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                          % of
                                                        Mortgage
                                                         Pool by
                                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                                Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                  of         Date         Date        Gross    Remaining   Combined    Average
                               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Minimum Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
--------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  982     110,194,672     100.00      9.118       311        82.69      631
--------------------------------------------------------------------------------------------------------------
Total:                            982     110,194,672     100.00      9.118       311        82.69      631
--------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date          Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        982      110,194,672     100.00      9.118        311       82.69      631
---------------------------------------------------------------------------------------------------------------------
Total:                                  982      110,194,672     100.00      9.118        311       82.69      631
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date        Date       Gross     Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans              982     110,194,672     100.00      9.118       311        82.69       631
----------------------------------------------------------------------------------------------------------
Total:                        982     110,194,672     100.00      9.118       311        82.69       631
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    982     110,194,672     100.00      9.118       311        82.69      631
----------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00      9.118       311        82.69      631
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0.000
Maximum: 0.000
Non-Zero Weighted Average: 0.000

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    982     110,194,672     100.00      9.118       311        82.69       631
----------------------------------------------------------------------------------------------------------------
Total:                              982     110,194,672     100.00      9.118       311        82.69       631
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0
Maximum: 0
Non-Zero Weighted Average: 0

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                      218      26,461,064      24.01      9.671       260        86.56      647
Florida                         152      14,607,241      13.26      9.292       303        82.54      627
Texas                           134      10,567,851       9.59      8.706       321        82.00      621
New York                         41      10,519,125       9.55      7.686       352        70.91      669
Illinois                         70       7,147,212       6.49      9.424       308        86.01      611
New Jersey                       12       3,163,442       2.87      9.075       357        74.26      608
Massachusetts                    16       2,864,916       2.60      9.362       344        81.87      624
Pennsylvania                     29       2,701,516       2.45      8.799       343        78.49      599
Virginia                         23       2,678,881       2.43      9.236       329        79.64      616
Maryland                         15       2,587,535       2.35      8.371       344        83.07      666
Arizona                          26       2,395,730       2.17      9.044       307        79.63      628
Nevada                           19       2,075,884       1.88      8.956       292        91.19      655
Connecticut                      14       2,074,590       1.88      9.670       348        77.26      608
Michigan                         24       2,060,082       1.87      9.013       342        86.98      621
Washington                       16       1,637,664       1.49      9.269       294        87.05      631
Other                           173      16,651,940      15.11      9.194       337        85.10      610
------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69      631
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 43

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Occupancy            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                         931     104,310,697      94.66      9.147       309        83.00      630
Investment                       47       5,587,028       5.07      8.539       351        76.68      643
Second Home                       4         296,947       0.27      9.813       295        88.08      658
------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69      631
------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Single Family Residence         814      89,228,604      80.97      9.088       311        83.05      626
2-4 Family                       74      12,264,028      11.13      8.707       323        78.04      675
Planned Unit Development         41       4,365,542       3.96      9.566       303        84.60      613
Condo                            53       4,336,498       3.94     10.431       276        86.53      626
------------------------------------------------------------------------------------------------------------
Total:                          982     110,194,672     100.00      9.118       311        82.69      631
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout         440      64,178,436      58.24      8.412       343        76.26      619
Purchase                   468      35,629,176      32.33     10.637       246        94.32      655
Refinance--Rate Term        74      10,387,060       9.43      8.269       338        82.55      622
-------------------------------------------------------------------------------------------------------
Total:                     982     110,194,672     100.00      9.118       311        82.69      631
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Full Documentation         444      55,149,259      50.05      8.521       331        80.68      615
Stated Documentation       486      49,922,970      45.30      9.771       291        84.29      648
Limited Documentation       52       5,122,443       4.65      9.166       291        88.75      641
-------------------------------------------------------------------------------------------------------
Total:                     982     110,194,672     100.00      9.118       311        82.69      631
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

500--524                    45       5,359,097       4.86      9.740       349        73.34      511
525--549                    53       7,173,702       6.51      9.640       353        75.29      538
550--574                    47       5,699,854       5.17      9.153       352        76.01      564
575--599                    82       9,693,552       8.80      8.971       333        80.58      589
600--624                   170      18,474,761      16.77      9.206       307        84.49      615
625--649                   246      23,663,179      21.47      9.349       300        85.86      636
650--674                   156      17,998,477      16.33      9.008       300        84.36      662
675--699                    96      11,242,560      10.20      8.719       292        83.29      685
700--724                    42       4,803,780       4.36      8.609       279        85.22      710
725--749                    25       2,979,612       2.70      8.368       319        82.23      734
750--774                    10       1,408,328       1.28      8.874       288        84.86      760
775--799                     7       1,464,616       1.33      7.967       293        82.10      785
800 +                        3         233,153       0.21      9.934       223       100.00      805
-------------------------------------------------------------------------------------------------------
Total:                     982     110,194,672     100.00      9.118       311        82.69      631
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 631

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FIXED RATE                                                 982 records
                                                           Balance: $110,194,672
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            326      30,984,261      28.12      9.393       318        84.47       625
12                            47      11,152,005      10.12      8.002       336        72.55       670
24                           141      11,991,033      10.88     10.611       237        94.84       646
30                             2         462,470       0.42      9.230       357        70.42       590
36                           427      50,494,087      45.82      8.866       315        81.86       629
48                             1         145,964       0.13      8.500       359        36.50       529
60                            38       4,964,852       4.51      8.870       350        76.05       572
---------------------------------------------------------------------------------------------------------
Total:                       982     110,194,672     100.00      9.118       311        82.69       631
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 32

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
          Lien            Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                     522      81,020,883      73.53      8.266       348        76.64       622
2nd Lien                     460      29,173,789      26.47     11.483       208        99.52       657
---------------------------------------------------------------------------------------------------------
Total:                       982     110,194,672     100.00      9.118       311        82.69       631
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            967     105,382,687      95.63      9.193       309        82.94       630
60                            14       4,480,985       4.07      7.527       357        77.12       657
120                            1         331,000       0.30      6.750       357        79.95       638
---------------------------------------------------------------------------------------------------------
Total:                       982     110,194,672     100.00      9.118       311        82.69       631
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 666
Aggregate Principal Balance ($): 119,157,019
Weighted Average Current Mortgage Rate (%): 8.545
Non-Zero Weighted Average Margin (%): 6.630
Non-Zero Weighted Average Maximum Rate (%): 15.235
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 350
Weighted Average Combined Original LTV (%): 79.54
% First Liens: 96.09
% Owner Occupied: 89.69
% Purchase: 47.15
% Full Doc: 37.77
Non-Zero Weighted Average Credit Score: 622

ORIGINATOR



                                              % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date      Gross     Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             51       8,338,773       7.00      8.501        357       74.77       596
Chapel                  5         927,980       0.78      7.652        352       71.28       617
Encore                 43       7,256,276       6.09      8.443        356       74.64       600
First Banc              4         913,997       0.77      8.906        355       85.09       642
First Horizon          13       3,025,580       2.54      8.679        358       86.39       643
First NLC             332      57,140,002      47.95      8.535        351       79.43       625
Flex Point              1         157,439       0.13      8.570        358       89.97       627
Funding America        11       1,272,195       1.07      8.657        334       71.67       633
Lenders Direct         21       2,961,038       2.48      8.753        331       80.60       609
Lime Financial          3         906,577       0.76      8.484        357       85.86       630
Mandalay                3         342,495       0.29      7.975        355       82.23       621
Master Financial       76      13,164,656      11.05      8.807        332       84.41       645
New Century            69      14,880,067      12.49      8.447        358       79.62       619
Quick Loan              7       1,249,479       1.05      8.331        356       82.73       583
Rose Mortgage          27       6,620,463       5.56      8.479        356       78.44       609
--------------------------------------------------------------------------------------------------
Total:                666     119,157,019     100.00      8.545        350       79.54       622
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                               % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           1         147,910       0.12      7.450       176        54.55       722
Fixed--30 Year                          59       7,941,184       6.66      8.424       357        75.98       614
Balloon--15/30                          79       4,195,689       3.52     11.713       176        99.78       661
Balloon--30/40                          11       1,802,024       1.51      8.286       358        76.40       598
ARM--2 Year/6 Month Balloon 30/40       91      19,449,276      16.32      8.519       357        78.99       610
ARM--3 Year/6 Month Balloon 30/40       37       8,294,925       6.96      8.243       357        78.89       625
ARM--2 Year/6 Month                    194      38,753,378      32.52      8.544       356        80.20       620
ARM--3 Year/6 Month                    111      19,033,922      15.97      8.713       357        76.27       592
ARM--5 Year/6 Month                      1         122,178       0.10      7.790       358        62.74       605
Dual Amort--10/40--2 Year/6 Month        1         207,635       0.17      7.490       352        60.00       615
Interest Only ARM--3 Year/6              2         423,500       0.36      7.690       358        75.89       642
Month--36 mo. IO term
Interest Only Fixed--30 Year--60         2         520,435       0.44      7.037       356        72.88       634
mo. IO term
Interest Only ARM--2 Year/6             55      13,114,112      11.01      7.981       356        80.07       660
Month--60 mo. IO term
Interest Only ARM--3 Year/6             19       4,588,727       3.85      7.902       357        80.44       675
Month--60 mo. IO term
Interest Only ARM--5 Year/6              1         218,000       0.18      8.775       357        94.78       716
Month--60 mo. IO term
Interest Only ARM--2 Year/6              1         186,686       0.16      8.000       358        80.00       641
Month--120 mo. IO term
Interest Only ARM--5 Year/6              1         157,439       0.13      8.570       358        89.97       627
Month--120 mo. IO term
-------------------------------------------------------------------------------------------------------------------
Total:                                 666     119,157,019     100.00      8.545       350        79.54       622
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                        of         Date          Date       Gross    Remaining   Combined    Average
  RANGE OF GROSS     Mortgage    Principal    Principal   Interest      Term     Original     FICO
INTEREST RATES (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

6.000--6.999             31       6,244,014      5.24       6.686       357         76.91      649
7.000--7.999            174      37,643,313     31.59       7.599       356         78.40      640
8.000--8.999            208      40,944,167     34.36       8.525       357         77.81      621
9.000--9.999            138      25,076,868     21.05       9.491       355         80.37      591
10.000--10.999           47       5,321,870      4.47      10.500       323         87.88      609
11.000--11.999           32       2,159,195      1.81      11.475       238         92.77      624
12.000--12.999           20         962,948      0.81      12.444       222         99.67      640
13.000--13.999           16         804,642      0.68      13.343       175        100.00      625
----------------------------------------------------------------------------------------------------
Total:                  666     119,157,019    100.00       8.545       350         79.54      622
----------------------------------------------------------------------------------------------------


Minimum: 6.190
Maximum: 13.850
Weighted Average: 8.545

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date         Date        Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest     Term      Original     FICO
         Balances ($)               Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                              2          49,702       0.04     12.349       177        97.51       603
25,001--50,000                        42       1,651,902       1.39     11.742       219        96.66       640
50,001--75,000                        51       3,146,880       2.64     10.963       228        90.24       647
75,001--100,000                       38       3,275,205       2.75      9.494       328        79.89       616
100,001--125,000                      64       7,335,566       6.16      8.612       357        74.11       593
125,001--150,000                      87      12,112,092      10.16      8.666       353        76.05       607
150,001--175,000                      73      11,787,258       9.89      8.502       357        78.74       615
175,001--200,000                      84      15,703,530      13.18      8.471       357        77.75       614
200,001--225,000                      66      14,052,437      11.79      8.307       357        80.25       641
225,001--250,000                      47      11,086,317       9.30      8.347       357        80.94       623
250,001--275,000                      34       8,950,556       7.51      8.330       357        79.36       616
275,001--300,000                      20       5,742,193       4.82      8.036       358        81.96       627
300,001--325,000                      10       3,133,641       2.63      8.062       357        81.80       630
325,001--350,000                      14       4,704,828       3.95      8.524       357        80.44       611
350,001--375,000                       8       2,856,421       2.40      8.355       357        78.51       662
375,001--400,000                       7       2,715,605       2.28      8.739       357        85.64       635
400,001--425,000                       3       1,246,612       1.05      8.752       356        81.70       639
425,001--450,000                       1         439,874       0.37      7.990       359        69.51       555
450,001--475,000                       4       1,862,270       1.56      7.731       356        85.05       664
475,001--500,000                       2         987,029       0.83      8.124       353        73.19       642
500,001--750,000                       7       4,534,418       3.81      7.915       357        77.51       626
750,001--1,000,000                     2       1,782,684       1.50      8.737       357        79.21       625
-----------------------------------------------------------------------------------------------------------------
Total:                               666     119,157,019     100.00      8.545       350        79.54       622
-----------------------------------------------------------------------------------------------------------------


Minimum: 24,719
Maximum: 1,000,000
Average: 178,914

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted   Weighted    Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of         Date         Date        Gross    Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest     Term      Original     FICO
Stated Original Term (Months)     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
---------------------------------------------------------------------------------------------------------------

180                                 80       4,343,598       3.65     11.568       176        98.24       663
360                                586     114,813,420      96.35      8.431       357        78.83       620
---------------------------------------------------------------------------------------------------------------
Total:                             666     119,157,019     100.00      8.545       350        79.54       622
---------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted   Weighted    Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of         Date         Date        Gross    Remaining   Combined    Average
Range of Stated Remaining   Mortgage    Principal    Principal   Interest     Term      Original     FICO
      Terms (Months)          Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------

169--180                        80       4,343,598       3.65     11.568       176        98.24       663
349--360                       586     114,813,420      96.35      8.431       357        78.83       620
-----------------------------------------------------------------------------------------------------------
Total:                         666     119,157,019     100.00      8.545       350        79.54       622
-----------------------------------------------------------------------------------------------------------


Minimum: 170
Maximum: 360
Weighted Average: 350

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date         Date        Gross    Remaining   Combined    Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Ratios (%)               Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

30.01--35.00                          1         116,861       0.10      8.625       358        33.91       533
35.01--40.00                          6         725,356       0.61      8.581       357        37.16       588
40.01--45.00                          5         616,140       0.52      8.164       357        42.46       573
45.01--50.00                          6         799,096       0.67      8.983       355        48.37       566
50.01--55.00                         12       2,063,188       1.73      8.622       344        52.59       586
55.01--60.00                         23       3,298,617       2.77      8.288       357        58.17       583
60.01--65.00                         30       4,676,149       3.92      8.780       357        63.20       550
65.01--70.00                         39       6,940,310       5.82      8.545       357        68.88       577
70.01--75.00                         52      12,233,390      10.27      8.356       357        73.67       581
75.01--80.00                        240      50,708,698      42.56      8.111       357        79.89       643
80.01--85.00                         56       9,980,678       8.38      8.764       357        84.62       597
85.01--90.00                         73      15,208,150      12.76      8.695       357        89.72       638
90.01--95.00                         32       6,297,703       5.29      9.173       352        94.83       646
95.01--100.00                        91       5,492,680       4.61     11.339       224       100.00       665
----------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------------


Minimum: 33.91
Maximum: 100.00
Weighted Average: 79.54

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted   Weighted    Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date         Date        Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                152      14,607,241      12.26      9.292       303        82.54       627
<= 3.500                          1         186,686       0.16      8.000       358        80.00       641
4.001--4.500                      3         626,372       0.53      7.747       358        83.08       600
4.501--5.000                     21       4,573,372       3.84      7.853       356        77.67       636
5.001--5.500                     47      10,291,168       8.64      8.158       355        78.66       634
5.501--6.000                     71      13,538,613      11.36      8.300       357        79.27       618
6.001--6.500                     80      18,035,653      15.14      8.147       357        80.45       630
6.501--7.000                     63      13,468,200      11.30      8.404       357        78.78       625
7.001--7.500                    219      41,897,988      35.16      8.747       357        78.61       611
7.501--8.000                      6       1,259,345       1.06      8.765       357        81.99       648
8.001--8.500                      1         134,744       0.11      9.250       355        84.97       585
8.501--9.000                      1         327,447       0.27      9.200       354        90.00       615
9.001--9.500                      1         210,187       0.18      9.390       358        80.00       629
------------------------------------------------------------------------------------------------------------
Total:                          666     119,157,019     100.00      8.545       350        79.54       622
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.000
Maximum: 9.240
Non-Zero Weighted Average: 6.630

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted   Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Minimum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                         152      14,607,241      12.26      9.292       303        82.54       627
5.501--6.000                               2         419,488       0.35      8.391       352        82.19       638
6.001--6.500                               8       2,113,575       1.77      6.679       356        77.84       642
6.501--7.000                              17       3,029,069       2.54      6.819       357        77.45       641
7.001--7.500                              56      12,967,447      10.88      7.317       356        78.51       648
7.501--8.000                             106      22,300,537      18.72      7.818       357        78.33       633
8.001--8.500                              82      17,694,065      14.85      8.306       357        79.03       628
8.501--9.000                              98      19,075,599      16.01      8.775       357        77.66       622
9.001--9.500                              63      12,748,709      10.70      9.292       357        81.53       596
9.501--10.000                             58      10,173,823       8.54      9.774       357        79.10       579
10.001 -10.500                            11       1,748,361       1.47     10.227       357        87.09       590
10.501--11.000                            11       1,944,097       1.63     10.820       357        88.00       599
11.001--11.500                             2         335,007       0.28     11.235       357        77.51       552
---------------------------------------------------------------------------------------------------------------------
Total:                                   666     119,157,019     100.00      8.545       350        79.54       622
---------------------------------------------------------------------------------------------------------------------


Non-zero Minimum: 5.750
Maximum: 11.425
Non-zero Weighted Average: 8.421

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                    Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                  Loans    Balance ($)    Balance    Rate (%)   (months)      LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     152      14,607,241      12.26      9.292        303       82.54       627
<= 12.500                              5       1,087,903       0.91      6.633        355       78.30       610
12.501--13.000                        10       1,557,826       1.31      7.730        356       78.02       602
13.001--13.500                        13       2,902,372       2.44      6.978        356       79.55       642
13.501--14.000                        33       6,671,646       5.60      7.669        357       74.93       623
14.001--14.500                        59      13,899,458      11.66      7.514        357       78.54       648
14.501--15.000                        98      20,957,907      17.59      7.970        357       78.16       635
15.001--15.500                        81      16,959,211      14.23      8.418        357       79.31       626
15.501--16.000                        86      16,509,172      13.85      8.807        357       78.49       621
16.001--16.500                        55      11,254,372       9.44      9.285        357       81.76       596
16.501--17.000                        54       9,277,445       7.79      9.789        357       79.78       575
17.001--17.500                         9       1,476,950       1.24     10.234        358       86.61       589
17.501--18.000                         9       1,660,507       1.39     10.826        357       89.90       608
18.001--18.500                         2         335,007       0.28     11.235        357       77.51       552
-----------------------------------------------------------------------------------------------------------------
Total:                               666     119,157,019     100.00      8.545        350       79.54       622
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.450
Maximum: 18.425
Non-Zero Weighted Average: 15.235

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted   Weighted    Weighted
                            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                              of         Date         Date       Gross     Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans              152      14,607,241      12.26      9.292        303      82.54        627
1.500                          42       7,404,133       6.21      8.473        357      77.66        597
2.000                          96      20,869,026      17.51      8.466        357      78.00        615
3.000                         374      75,932,493      63.72      8.431        357      79.54        625
5.000                           1         157,439       0.13      8.570        358      89.97        627
6.000                           1         186,686       0.16      8.000        358      80.00        641
----------------------------------------------------------------------------------------------------------
Total:                        666     119,157,019     100.00      8.545        350      79.54        622
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.703

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of         Date         Date       Gross     Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 152      14,607,241      12.26      9.292       303        82.54       627
1.000                            153      32,858,663      27.58      8.435       356        79.79       624
1.500                            358      71,220,368      59.77      8.445       357        78.86       620
2.000                              3         470,747       0.40      8.262       355        71.18       607
-------------------------------------------------------------------------------------------------------------
Total:                           666     119,157,019     100.00      8.545       350        79.54       622
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.345

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    152      14,607,241      12.26      9.292       303        82.54       627
13                                    1         148,392       0.12      7.715       349        80.00       688
14                                    2         291,010       0.24      6.908       350        79.99       619
15                                    7       1,557,695       1.31      7.715       351        75.99       622
16                                    8       1,332,375       1.12      7.714       352        73.24       642
17                                   16       3,365,447       2.82      8.304       353        77.21       641
18                                   20       3,503,229       2.94      8.702       354        79.89       630
19                                   23       4,828,346       4.05      8.256       355        80.21       625
20                                   46       9,603,683       8.06      8.382       356        80.19       623
21                                   79      17,262,982      14.49      8.621       357        80.33       624
22                                  113      24,859,646      20.86      8.411       358        80.57       629
23                                   26       4,668,282       3.92      8.597       359        77.86       586
24                                    1         290,000       0.24      7.700       360        71.08       622
30                                    2         242,797       0.20      8.487       354        77.00       589
31                                    4         597,576       0.50      9.102       355        76.94       543
32                                   13       2,994,277       2.51      8.769       356        77.99       595
33                                   57      11,356,098       9.53      8.412       357        77.86       607
34                                   90      16,661,695      13.98      8.405       358        77.19       623
35                                    3         488,630       0.41      9.026       359        79.32       593
57                                    1         218,000       0.18      8.775       357        94.78       716
58                                    2         279,617       0.23      8.229       358        78.07       617
----------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13
Maximum: 58
Non-Zero Weighted Average: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date      Gross     Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------

Florida                        666      119,157,019     100.00      8.545       350       79.54        622
------------------------------------------------------------------------------------------------------------
Total:                         666      119,157,019     100.00      8.545       350       79.54        622
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 1

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of         Date          Date      Gross     Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------

Primary          601     106,867,404      89.69      8.489        349       79.11       619
Investment        50       8,476,637       7.11      9.080        357       84.60       656
Second Home       15       3,812,977       3.20      8.939        357       80.20       639
---------------------------------------------------------------------------------------------
Total:           666     119,157,019     100.00      8.545        350       79.54       622
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       507      88,251,613      74.06      8.592        350     79.53         616
Planned Unit Development       65      15,120,714      12.69      8.268        351     78.06         629
Condo                          71      10,770,118       9.04      8.543        350     80.57         646
2-4 Family                     23       5,014,574       4.21      8.563        351     81.95         653
----------------------------------------------------------------------------------------------------------
Total:                        666     119,157,019     100.00      8.545        350     79.54         622
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO
       Loan Purpose          Loans    Balance ($)    Balance    Rate (%)   (months)      LTV        Score
----------------------------------------------------------------------------------------------------------

Refinance--Cashout            318      61,141,911      51.31      8.489       357        75.69       592
Purchase                      337      56,184,675      47.15      8.616       344        83.71       654
Refinance--Rate Term           11       1,830,433       1.54      8.222       335        79.96       614
----------------------------------------------------------------------------------------------------------
Total:                        666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
      Documentation Level          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Stated Documentation                390      70,761,933      59.39      8.774       349        79.89       634
Full Documentation                  253      45,002,262      37.77      8.141       352        78.56       604
Limited Documentation                23       3,392,823       2.85      9.122       338        85.15       610
----------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Credit Score               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

500--524                             45       7,308,400       6.13      9.433       356        70.88       510
525--549                             53       8,987,715       7.54      9.061       357        70.99       537
550--574                             54       9,221,787       7.74      8.668       357        72.79       561
575--599                             72      13,151,965      11.04      8.518       354        78.93       587
600--624                            117      21,670,905      18.19      8.543       353        80.30       612
625--649                            117      22,055,732      18.51      8.525       348        82.37       636
650--674                             79      14,403,214      12.09      8.208       347        81.87       660
675--699                             62      11,178,306       9.38      8.166       347        83.22       685
700--724                             32       5,283,763       4.43      8.580       329        85.53       712
725--749                             23       3,545,126       2.98      8.232       343        84.01       737
750--774                              7       1,180,078       0.99      8.057       350        87.16       758
775--799                              5       1,170,028       0.98      7.856       357        79.83       784
----------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 792
Non-Zero Weighted Average: 622

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Prepayment Penalty Term         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                    32       6,427,496       5.39      8.684       352        79.37       647
12                                   17       2,808,132       2.36      9.070       351        79.52       625
24                                  334      65,531,829      55.00      8.487       353        80.27       625
36                                  270      42,686,206      35.82      8.568       346        78.79       615
48                                    1         145,964       0.12      8.500       359        36.50       529
60                                   12       1,557,391       1.31      8.816       358        73.83       590
---------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
---------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FLORIDA                                                    666 records
                                                           Balance: $119,157,019
--------------------------------------------------------------------------------

Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 29

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Lien Position              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1st Lien                            577     114,496,632      96.09      8.415       357        78.71       620
2nd Lien                             89       4,660,387       3.91     11.746       194        99.80       659
----------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
      Interest Only Term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                   585      99,948,121      83.88      8.661       349        79.43       614
36                                    2         423,500       0.36      7.690       358        75.89       642
60                                   77      18,441,273      15.48      7.944       357        80.13       664
120                                   2         344,125       0.29      8.261       358        84.56       635
----------------------------------------------------------------------------------------------------------------
Total:                              666     119,157,019     100.00      8.545       350        79.54       622
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                            ASSET-BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
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revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
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characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
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and it cannot be used by any taxpayer, for the purpose of avoiding penalties
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independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,897
Aggregate Principal Balance ($): 342,451,104
Weighted Average Current Mortgage Rate (%): 8.246
Non-Zero Weighted Average Margin (%): 6.251
Non-Zero Weighted Average Maximum Rate (%): 14.861
Weighted Average Stated Original Term (months): 356
Weighted Average Stated Remaining Term (months): 353
Weighted Average Combined Original LTV (%): 80.02
% First Liens: 98.06
% Owner Occupied: 93.63
% Purchase: 31.16
% Full Doc: 100.00
Non-Zero Weighted Average Credit Score: 607

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                      of         Date          Date      Gross     Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             220     36,169,929      10.56      8.587       356        77.99       587
Chapel                   7      1,060,197       0.31      6.919       351        77.43       610
Encore                 178     40,402,206      11.80      7.898       356        78.81       615
First Banc              29      5,414,631       1.58      7.834       345        77.51       614
First Horizon          144     19,655,679       5.74      8.847       356        84.61       611
First NLC              717    114,012,987      33.29      8.397       352        80.84       603
Flex Point              14      3,033,356       0.89      8.826       357        68.01       580
Funding America         30      2,763,349       0.81      8.787       345        79.20       609
Lenders Direct          11      2,052,585       0.60      7.858       316        76.05       634
Lime Financial          18      1,993,660       0.58      8.795       334        87.04       601
Mandalay                10      1,777,458       0.52      8.424       329        83.17       636
Master Financial        86     21,496,073       6.28      8.052       337        82.84       633
Maxim                    7      1,082,648       0.32      8.544       340        81.90       596
New Century            327     69,548,585      20.31      7.906       358        79.98       617
Quick Loan              20      3,974,492       1.16      8.414       356        72.49       565
Rose Mortgage           79     18,013,269       5.26      8.204       355        77.36       591
--------------------------------------------------------------------------------------------------
Total:               1,897    342,451,104     100.00      8.246       353        80.02       607
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Product with IO term           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                            3        213,531       0.06      7.107       117        58.65       657
Fixed--15 Year                           16      1,424,249       0.42      8.163       177        67.51       629
Fixed--20 Year                           12        899,632       0.26      8.716       237        78.01       593
Fixed--25 Year                            2        195,875       0.06      7.864       298        88.68       629
Fixed--30 Year                          288     35,181,267      10.27      8.454       357        79.24       607
Balloon--15/30                           71      5,460,443       1.59     10.780       175        96.77       649
Balloon--30/40                           45      9,526,913       2.78      7.935       357        80.74       616
ARM--2 Year/6 Month Balloon 30/40       320     79,371,311      23.18      8.031       357        80.95       609
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.06      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40        99     19,345,347       5.65      8.153       357        79.77       595
ARM--2 Year/6 Month                     562     89,765,262      26.21      8.492       357        77.86       594
ARM--3 Year/6 Month                     266     39,851,202      11.64      9.013       357        80.10       573
ARM--5 Year/6 Month                       3        354,664       0.10      7.130       356        65.01       660
Dual Amort--10/40--2 Year/6 Month         1        135,481       0.04      6.700       351        80.00       657
Interest Only ARM--2 Year/6
   Month--24 mo. IO term                  1        221,000       0.06      6.250       358        78.93       585
Interest Only ARM--3 Year/6
   Month--36 mo. IO term                  1        228,000       0.07      7.475       358        80.00       666
Interest Only Fixed--30 Year--60
   mo. IO term                            6      1,916,350       0.56      6.948       357        73.96       651
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                163     48,876,648      14.27      7.438       356        82.27       645
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                 30      7,366,470       2.15      7.349       358        77.95       648
Interest Only ARM--5 Year/6
   Month--60 mo. IO term                  4      1,238,400       0.36      6.837       358        75.53       683
Interest Only Fixed--30 Year--120
   mo. IO term                            1        331,000       0.10      6.750       357        79.95       638
Interest Only ARM--2 Year/6
   Month--120 mo. IO term                 1        186,686       0.05      8.000       358        80.00       641
Interest Only ARM--5 Year/6
   Month--120 mo. IO term                 1        157,439       0.05      8.570       358        89.97       627
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              3        871,732       0.25      5.868        357       61.75      677
6.000--6.999                            177     44,452,090      12.98      6.680        355       76.50      652
7.000--7.999                            561    127,331,350      37.18      7.575        356       79.94      626
8.000--8.999                            544     94,234,132      27.52      8.511        355       79.89      595
9.000--9.999                            354     49,365,330      14.42      9.559        352       81.07      562
10.000--10.999                          171     18,931,532       5.53     10.500        343       84.86      560
11.000--11.999                           70      6,247,041       1.82     11.487        300       85.50      576
12.000--12.999                           15        907,115       0.26     12.341        235       96.32      591
13.000--13.999                            2        110,782       0.03     13.352        173      100.00      597
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246        353       80.02      607
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 13.425
Weighted Average: 8.246

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

1--25,000                                10        233,150       0.07     10.985       265        99.47       617
25,001--50,000                           79      3,218,361       0.94     10.269       298        86.28       612
50,001--75,000                          181     11,634,143       3.40      9.450       333        80.43       596
75,001--100,000                         219     19,190,067       5.60      8.902       341        80.28       593
100,001--125,000                        255     28,950,345       8.45      8.818       348        78.98       589
125,001--150,000                        207     28,564,097       8.34      8.645       352        79.11       589
150,001--175,000                        190     30,917,291       9.03      8.617       353        78.38       596
175,001--200,000                        157     29,405,233       8.59      8.238       357        78.47       600
200,001--225,000                        116     24,756,720       7.23      8.106       355        79.99       607
225,001--250,000                         94     22,275,926       6.50      8.002       357        77.67       609
250,001--275,000                         88     23,112,502       6.75      8.027       357        80.27       603
275,001--300,000                         65     18,732,775       5.47      7.749       354        78.93       611
300,001--325,000                         39     12,176,871       3.56      7.562       357        81.67       610
325,001--350,000                         33     11,137,414       3.25      8.132       357        81.92       605
350,001--375,000                         27      9,710,179       2.84      7.960       357        80.09       640
375,001--400,000                         23      8,923,976       2.61      7.860       357        81.55       618
400,001--425,000                         19      7,775,354       2.27      7.426       357        81.17       626
425,001--450,000                         16      7,023,951       2.05      7.786       357        80.53       598
450,001--475,000                         13      5,971,853       1.74      7.965       357        83.22       635
475,001--500,000                         17      8,283,823       2.42      7.715       356        82.61       631
500,001--750,000                         45     26,775,538       7.82      7.635       357        82.43       642
750,001--1,000,000                        4      3,681,538       1.08      7.723       357        83.35       654
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------------


Minimum: 20,684
Maximum: 988,617
Average: 180,522

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

120                                       3        213,531       0.06      7.107       117        58.65       657
180                                      87      6,884,691       2.01     10.239       176        90.71       645
240                                      12        899,632       0.26      8.716       237        78.01       593
300                                       2        195,875       0.06      7.864       298        88.68       629
360                                   1,793    334,257,375      97.61      8.204       357        79.81       607
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 356

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
 Range of Stated Remaining Terms    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

109--120                                  3        213,531       0.06      7.107       117        58.65       657
169--180                                 87      6,884,691       2.01     10.239       176        90.71       645
229--240                                 12        899,632       0.26      8.716       237        78.01       593
289--300                                  2        195,875       0.06      7.864       298        88.68       629
337--348                                  1         73,261       0.02     10.240       348        99.97       615
349--360                              1,792    334,184,114      97.59      8.204       357        79.81       607
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
 Range of Combined Original LTV     Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Ratios (%)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

15.01--20.00                              2         71,008       0.02      9.154       356        17.83       523
20.01--25.00                              3        311,439       0.09      7.129       306        23.05       609
25.01--30.00                              3        346,237       0.10      7.780       357        26.26       620
30.01--35.00                              2        196,484       0.06      9.755       358        33.20       554
35.01--40.00                             10      1,186,436       0.35      8.934       357        38.57       562
40.01--45.00                             28      3,950,194       1.15      8.038       352        42.62       575
45.01--50.00                             28      4,042,448       1.18      7.970       357        48.18       602
50.01--55.00                             29      5,188,057       1.51      8.050       345        53.13       586
55.01--60.00                             39      6,176,298       1.80      7.920       346        57.69       591
60.01--65.00                             60     10,508,240       3.07      8.459       354        63.20       567
65.01--70.00                            100     16,460,380       4.81      8.523       354        68.88       570
70.01--75.00                            160     31,458,730       9.19      8.256       354        73.97       579
75.01--80.00                            700    137,703,790      40.21      7.895       356        79.80       618
80.01--85.00                            233     41,831,487      12.22      8.562       356        84.43       590
85.01--90.00                            232     46,005,982      13.43      8.248       356        89.55       619
90.01--95.00                            125     23,323,696       6.81      8.605       356        94.67       635
95.01--100.00                           143     13,690,200       4.00      9.979       292        99.66       634
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 80.02

RANGE OF GROSS MARGINS (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Range of Gross Margins (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                        444     55,149,259      16.10      8.521       331        80.68       615
<= 3.500                                 10      2,340,809       0.68      7.696       357        74.07       638
3.501--4.000                              8      1,940,277       0.57      7.129       358        79.21       665
4.001--4.500                             10      2,111,150       0.62      7.871       357        77.30       591
4.501--5.000                             50     12,958,711       3.78      7.953       356        79.17       635
5.001--5.500                            151     38,876,876      11.35      7.792       356        81.09       621
5.501--6.000                            325     60,491,867      17.66      8.180       357        80.24       609
6.001--6.500                            361     73,887,798      21.58      7.810       357        81.11       617
6.501--7.000                            188     36,028,871      10.52      8.511       357        76.97       586
7.001--7.500                            308     49,988,314      14.60      8.804       357        79.30       584
7.501--8.000                             24      4,846,140       1.42      9.279       357        80.93       573
8.001--8.500                             13      2,938,326       0.86      9.164       356        77.13       534
8.501--9.000                              3        699,758       0.20      9.569       357        93.94       672
9.001--9.500                              2        192,947       0.06     11.366       356        83.34       537
-------------------------------------------------------------------------------------------------------------------
Total:                                1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.490
Non-Zero Weighted Average: 6.251

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             (%)                   Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      444     55,149,259      16.10      8.521       331        80.68       615
5.501--6.000                            5      1,662,943       0.49      5.931       357        74.27       696
6.001--6.500                           38     10,684,796       3.12      6.392       357        78.07       648
6.501--7.000                          116     28,909,350       8.44      6.855       357        77.84       644
7.001--7.500                          185     44,097,940      12.88      7.318       357        79.87       639
7.501--8.000                          286     66,128,613      19.31      7.805       357        80.35       616
8.001--8.500                          193     38,668,947      11.29      8.271       357        80.93       605
8.501--9.000                          225     39,714,382      11.60      8.796       357        78.78       584
9.001--9.500                          114     17,709,412       5.17      9.315       357        79.54       566
9.501--10.000                         151     22,708,436       6.63      9.799       357        80.79       550
10.001 -10.500                         63      7,108,037       2.08     10.310       357        83.71       550
10.501--11.000                         54      6,887,937       2.01     10.778       357        84.65       551
11.001--11.500                         15      2,054,032       0.60     11.246       357        75.53       545
11.501--12.000                          6        855,829       0.25     11.754       358        78.06       543
12.001--12.500                          2        111,192       0.03     12.104       358        77.88       528
-----------------------------------------------------------------------------------------------------------------
Total:                              1,897    342,451,104     100.00      8.246       353        80.02       607
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.125
Non-Zero Weighted Average: 8.190

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      444    55,149,259      16.10      8.521        331     80.68        615
<= 12.500                              39    12,101,792       3.53      6.933        356     77.24        642
12.501--13.000                         55    14,056,187       4.10      7.553        356     81.37        625
13.001--13.500                         70    18,316,675       5.35      7.167        357     79.67        631
13.501--14.000                        142    32,894,458       9.61      7.219        357     77.85        629
14.001--14.500                        169    38,157,786      11.14      7.444        357     80.09        635
14.501--15.000                        245    53,641,472      15.66      7.910        357     79.66        613
15.001--15.500                        168    31,911,610       9.32      8.357        357     80.24        603
15.501--16.000                        206    35,753,901      10.44      8.879        357     79.13        585
16.001--16.500                         96    14,645,557       4.28      9.343        357     81.48        570
16.501--17.000                        136    20,372,651       5.95      9.833        357     81.33        546
17.001--17.500                         60     6,988,880       2.04     10.371        357     82.79        550
17.501--18.000                         48     6,261,179       1.83     10.832        358     84.46        551
18.001--18.500                         13     1,606,799       0.47     11.232        358     78.46        539
18.501--19.000                          4       481,706       0.14     11.790        358     90.02        558
19.001--19.500                          2       111,192       0.03     12.104        358     77.88        528
-------------------------------------------------------------------------------------------------------------
Total:                              1,897   342,451,104     100.00      8.246        353     80.02        607
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 19.125
Non-Zero Weighted Average: 14.861

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Initial Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  444     55,149,259      16.10      8.521       331        80.68       615
1.000                               2        504,335       0.15      7.466       356        86.63       626
1.500                             232     43,833,723      12.80      8.326       357        79.12       597
2.000                             409     93,774,840      27.38      7.907       357        79.44       615
3.000                             808    148,844,822      43.46      8.336       357        80.37       602
5.000                               1        157,439       0.05      8.570       358        89.97       627
6.000                               1        186,686       0.05      8.000       358        80.00       641
-------------------------------------------------------------------------------------------------------------
Total:                          1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.444

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  444     55,149,259      16.10      8.521       331        80.68       615
1.000                             469     98,682,730      28.82      8.078       356        80.14       611
1.500                             980    187,962,338      54.89      8.249       357        79.84       603
2.000                               4        656,777       0.19      9.308       355        58.36       546
-------------------------------------------------------------------------------------------------------------
Total:                          1,897    342,451,104     100.00      8.246       353        80.02       607
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.329

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     444     55,149,259      16.10      8.521       331        80.68       615
14                                     4        507,594       0.15      8.209       350        80.66       575
15                                    12      1,682,731       0.49      7.464       351        79.03       601
16                                    19      3,202,126       0.94      7.586       352        78.41       615
17                                    26      5,180,175       1.51      7.822       353        81.41       623
18                                    38      8,123,705       2.37      7.881       354        79.61       613
19                                    65     15,104,454       4.41      7.884       355        79.18       618
20                                   188     44,770,477      13.07      7.982       356        79.23       618
21                                   235     47,064,331      13.74      8.177       357        79.69       604
22                                   376     76,430,624      22.32      8.150       358        80.51       611
23                                    85     16,442,108       4.80      8.310       359        81.13       601
24                                     1        252,000       0.07      9.450       360        80.00       593
28                                     1        167,671       0.05      8.625       352        80.00       574
30                                     5        694,423       0.20      8.608       354        80.33       570
31                                    11      1,646,148       0.48      8.735       355        78.47       563
32                                    34      6,852,042       2.00      8.312       356        77.31       597
33                                   152     24,809,245       7.24      8.619       357        80.35       585
34                                   184     31,466,105       9.19      8.596       358        80.08       591
35                                     9      1,155,384       0.34      8.363       359        74.90       593
54                                     1        163,942       0.05      6.950       354        55.00       686
57                                     1        218,000       0.06      8.775       357        94.78       716
58                                     4      1,212,582       0.35      6.629       358        73.95       667
59                                     2        155,979       0.05      8.038       359        73.13       650
----------------------------------------------------------------------------------------------------------------
Total:                             1,897    342,451,104     100.00      8.246       353        80.02       607
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 59
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                       279     82,474,908      24.08      7.810       349        79.59       624
Florida                          253     45,002,262      13.14      8.141       352        78.56       604
Illinois                         127     21,017,338       6.14      8.463       352        81.33       602
Maryland                          73     16,116,048       4.71      8.105       356        76.26       599
Texas                            147     14,202,528       4.15      8.571       344        82.07       598
New York                          49     14,028,225       4.10      7.766       354        75.78       635
Arizona                           67     12,567,276       3.67      8.265       355        78.13       592
Massachusetts                     48     10,652,123       3.11      8.304       357        82.95       611
Washington                        56     10,300,345       3.01      8.090       355        79.25       590
New Jersey                        38      9,629,799       2.81      8.698       357        77.59       590
Pennsylvania                      75      9,093,226       2.66      8.734       353        81.47       596
Virginia                          53      8,777,858       2.56      8.494       356        79.14       591
Georgia                           54      8,115,030       2.37      8.972       355        84.60       594
Connecticut                       46      8,091,822       2.36      8.394       356        77.57       607
Michigan                          65      7,206,832       2.10      9.095       357        83.84       581
Other                            467     65,175,482      19.03      8.507       355        82.14       604
------------------------------------------------------------------------------------------------------------
Total:                         1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 48

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Occupancy             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                        1,764    320,632,239      93.63      8.222       352        79.95       605
Investment                       113     17,433,550       5.09      8.610       357        81.12       647
Second Home                       20      4,385,315       1.28      8.534       357        80.92       631
------------------------------------------------------------------------------------------------------------
Total:                         1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Single Family Residence        1,587    274,908,916      80.28      8.293       353        80.11       603
2-4 Family                       102     24,764,773       7.23      8.067       354        77.36       638
Planned Unit Development          94     22,560,674       6.59      7.952       353        82.14       613
Condo                            114     20,216,742       5.90      8.148       352        79.71       622
------------------------------------------------------------------------------------------------------------
Total:                         1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Refinance--Cashout       1,134    211,544,484      61.77      8.283       355        78.22       594
Purchase                   620    106,698,677      31.16      8.207       349        83.11       634
Refinance--Rate Term       143     24,207,943       7.07      8.088       354        82.16       610
------------------------------------------------------------------------------------------------------
Total:                   1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
Documentation Level     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Full Documentation       1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------
Total:                   1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

500--524                   204     31,704,523       9.26      9.467       356        72.55       511
525--549                   196     28,446,571       8.31      9.202       356        74.92       537
550--574                   214     35,334,745      10.32      8.875       356        79.22       562
575--599                   267     46,313,709      13.52      8.376       353        80.63       588
600--624                   408     76,411,100      22.31      8.007       352        81.68       612
625--649                   284     54,975,037      16.05      7.712       352        81.28       636
650--674                   141     29,798,369       8.70      7.627       354        82.45       661
675--699                    91     19,716,724       5.76      7.469       348        81.47       686
700--724                    46      9,756,264       2.85      7.754       342        86.00       712
725--749                    26      5,503,889       1.61      7.587       354        83.77       737
750--774                    12      2,124,527       0.62      7.488       357        84.64       764
775--799                     7      2,246,887       0.66      7.051       333        77.79       783
800 +                        1        118,759       0.03      7.375       359        90.00       814
------------------------------------------------------------------------------------------------------
Total:                   1,897    342,451,104     100.00      8.246       353        80.02       607
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 607

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET FULL DOCUMENTATION                                       1,897 records
                                                           Balance: $342,451,104
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             562     93,050,919      27.17      8.531       353        80.46       604
6                               4        598,107       0.17      9.362       357        77.19       580
12                             82     22,573,788       6.59      7.992       350        78.62       625
24                            719    144,832,343      42.29      7.999       355        80.22       612
30                              1        209,763       0.06     10.790       357       100.00       590
36                            489     76,074,592      22.21      8.385       349        79.70       600
60                             40      5,111,593       1.49      8.863       352        76.75       560
---------------------------------------------------------------------------------------------------------
Total:                      1,897    342,451,104     100.00      8.246       353        80.02       607
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                    1,795    335,809,673      98.06      8.192       356        79.65       606
2nd Lien                      102      6,641,431       1.94     10.938       213        98.48       648
---------------------------------------------------------------------------------------------------------
Total:                      1,897    342,451,104     100.00      8.246       353        80.02       607
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Interest Only Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                           1,689    281,929,112      82.33      8.428       352        79.74       599
24                              1        221,000       0.06      6.250       358        78.93       585
36                              1        228,000       0.07      7.475       358        80.00       666
60                            203     59,397,868      17.34      7.399       357        81.32       647
120                             3        675,125       0.20      7.520       358        82.30       636
---------------------------------------------------------------------------------------------------------
Total:                      1,897    342,451,104     100.00      8.246       353        80.02       607
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                        147 records
TERMSHEET GREATER THAN 500K BALANCES                        Balance: $89,547,631
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 147
Aggregate Principal Balance ($): 89,547,631
Weighted Average Current Mortgage Rate (%): 8.129
Non-Zero Weighted Average Margin (%): 6.042
Non-Zero Weighted Average Maximum Rate (%): 14.711
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 81.62
% First Liens: 100.00
% Owner Occupied: 91.54
% Purchase: 44.14
% Full Doc: 34.01
Non-Zero Weighted Average Credit Score: 649

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             17       9,473,947      10.58      7.750       357        77.30       672
Chapel                  1         512,000       0.57      6.990       350        80.00       665
Encore                 27      17,125,687      19.12      8.403       356        81.53       654
First Banc              1         594,300       0.66      7.990       356        70.00       609
First Horizon           5       3,110,065       3.47      9.159       357        86.07       669
First NLC              28      16,289,465      18.19      7.968       357        83.02       641
Lenders Direct          2       1,081,299       1.21      8.233       355        85.15       645
Lime Financial          4       2,494,980       2.79      8.563       356        82.52       639
Mandalay                1         504,000       0.56      7.550       355        90.00       694
Master Financial       20      11,818,382      13.20      7.859       355        84.31       646
New Century            36      23,133,613      25.83      8.127       358        80.58       641
Quick Loan              1         772,045       0.86      8.350       356        90.00       648
Rose Mortgage           4       2,637,846       2.95      8.554       357        77.46       644
--------------------------------------------------------------------------------------------------
Total:                147      89,547,631     100.00      8.129       357        81.62       649
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                        147 records
TERMSHEET GREATER THAN 500K BALANCES                        Balance: $89,547,631
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--30 Year                           5      2,896,145        3.23      8.723       357        76.16       663
Balloon--30/40                           4      2,182,547        2.44      7.514       357        81.21       698
ARM--2 Year/6 Month Balloon 30/40       52     32,991,308       36.84      8.292       357        81.27       635
ARM--3 Year/6 Month Balloon 30/40        7      4,370,384        4.88      7.962       357        80.33       640
ARM--2 Year/6 Month                     25     15,237,799       17.02      8.494       356        82.46       646
ARM--3 Year/6 Month                      3      1,636,139        1.83      7.939       357        88.33       635
Dual Amort--10/40--2 Year/6 Month        1        598,235        0.67      7.200       352        80.00       630
Interest Only Fixed--30 Year--60         1        508,000        0.57      7.000       357        80.00       652
   mo. IO term
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                41     24,494,124       27.35      7.857       356        82.34       663
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                 7      4,040,450        4.51      7.754       357        80.48       659
Interest Only ARM--5 Year/6
   Month--60 mo. IO term                 1        592,500        0.66      6.500       358        79.00       699
-------------------------------------------------------------------------------------------------------------------
Total:                                 147     89,547,631      100.00      8.129       357        81.62       649
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            14      8,666,156        9.68      6.683       357        81.28       696
7.000--7.999                            66     39,247,953       43.83      7.584       357        80.40       655
8.000--8.999                            43     26,520,981       29.62      8.548       356        82.35       642
9.000--9.999                            19     12,106,211       13.52      9.367       356        84.26       626
10.000--10.999                           3      1,899,348        2.12     10.355       357        86.11       616
11.000--11.999                           2      1,106,983        1.24     11.358       357        73.19       539
-------------------------------------------------------------------------------------------------------------------
Total:                                 147     89,547,631      100.00      8.129       357        81.62       649
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.125
Maximum: 11.750
Weighted Average: 8.129

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

500,001--750,000                       137     80,985,039       90.44      8.117       357        81.54       646
750,001--1,000,000                      10      8,562,593        9.56      8.240       356        82.32       670
------------------------------------------------------------------------------------------------------------------
Total:                                 147     89,547,631      100.00      8.129       357        81.62       649
------------------------------------------------------------------------------------------------------------------


Minimum: 500,170
Maximum: 1,000,000
Average: 609,168

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                        147 records
TERMSHEET GREATER THAN 500K BALANCES                        Balance: $89,547,631
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

360                                  147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

349--360                             147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Ratios (%)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

35.01--40.00                           1         530,000       0.59      7.120       357        40.00       633
50.01--55.00                           1         679,910       0.76      7.990       357        52.35       593
60.01--65.00                           1         569,848       0.64      8.250       359        63.33       564
65.01--70.00                           4       2,431,098       2.71      8.488       357        68.78       629
70.01--75.00                           7       5,252,624       5.87      8.122       357        74.12       596
75.01--80.00                          84      50,100,635      55.95      7.975       357        79.85       662
80.01--85.00                          15       9,000,866      10.05      8.458       356        84.02       634
85.01--90.00                          28      17,295,660      19.31      8.292       356        89.61       641
90.01--95.00                           4       2,483,416       2.77      8.546       356        94.43       642
95.01--100.00                          2       1,203,574       1.34      8.633       356        98.09       678
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Minimum: 40.00
Maximum: 100.00
Weighted Average: 81.62

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET GREATER THAN 500K BALANCES                                 147 records
                                                            Balance: $89,547,631
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      10       5,586,693       6.24      8.094       357        78.48       676
<= 3.500                               1         538,046       0.60      6.625       358        78.69       647
4.001--4.500                           2       1,091,456       1.22      7.250       358        80.00       693
4.501--5.000                           8       4,571,742       5.11      7.759       356        83.67       660
5.001--5.500                          33      20,476,537      22.87      8.116       356        81.35       654
5.501--6.000                          26      15,656,712      17.48      8.436       356        83.10       651
6.001--6.500                          39      24,526,061      27.39      8.076       357        81.96       643
6.501--7.000                          12       7,558,371       8.44      7.824       357        78.41       645
7.001--7.500                          10       5,948,944       6.64      7.973       356        80.83       629
7.501--8.000                           2       1,178,481       1.32      8.811       356        84.96       683
8.001--8.500                           4       2,414,590       2.70      9.302       355        85.89       581
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.000
Maximum: 8.500
Non-Zero Weighted Average: 6.042

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      10       5,586,693       6.24      8.094       357        78.48       676
6.001--6.500                           3       1,952,276       2.18      6.341       358        82.85       675
6.501--7.000                          10       5,965,962       6.66      6.863       356        82.80       659
7.001--7.500                          22      12,844,338      14.34      7.303       357        79.08       666
7.501--8.000                          39      23,789,615      26.57      7.800       357        80.84       650
8.001--8.500                          22      13,737,332      15.34      8.332       357        81.70       643
8.501--9.000                          20      12,233,285      13.66      8.806       356        82.96       639
9.001--9.500                          13       8,404,714       9.39      9.232       356        83.81       642
9.501--10.000                          5       3,134,069       3.50      9.749       357        86.27       585
10.001 -10.500                         3       1,899,348       2.12     10.355       357        86.11       616
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.125
Maximum: 10.500
Non-Zero Weighted Average: 8.131

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET GREATER THAN 500K BALANCES                                 147 records
                                                            Balance: $89,547,631
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      10       5,586,693       6.24      8.094       357        78.48       676
<= 12.500                              5       3,227,610       3.60      7.222       356        72.27       654
12.501--13.000                         8       4,911,897       5.49      7.789       356        85.56       671
13.001--13.500                         9       5,389,538       6.02      7.374       357        82.55       665
13.501--14.000                        13       7,753,586       8.66      7.434       356        83.54       658
14.001--14.500                        20      12,288,939      13.72      7.621       357        81.54       661
14.501--15.000                        32      19,516,397      21.79      7.901       356        79.73       641
15.001--15.500                        18      10,863,599      12.13      8.637       357        81.69       635
15.501--16.000                        16       9,827,721      10.97      8.797       356        83.11       638
16.001--16.500                        11       7,128,221       7.96      9.230       356        83.98       652
16.501--17.000                         4       2,433,329       2.72      9.679       357        85.20       576
17.001--17.500                         1         620,100       0.69     10.100       358        90.00       606
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.900
Maximum: 17.100
Non-Zero Weighted Average: 14.711

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      10       5,586,693       6.24      8.094       357        78.48       676
1.500                                 22      12,535,428      14.00      8.265       357        79.25       645
2.000                                 55      35,925,070      40.12      8.142       357        80.60       647
3.000                                 60      35,500,441      39.64      8.074       356        83.97       648
----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.348

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET GREATER THAN 500K BALANCES                                 147 records
                                                            Balance: $89,547,631
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      10       5,586,693       6.24      8.094       357        78.48       676
1.000                                 59      36,362,835      40.61      8.193       356        83.07       651
1.500                                 76      46,043,108      51.42      8.077       357        80.88       641
2.000                                  2       1,554,996       1.74      8.288       350        80.79       732
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.293

MONTHS TO NEXT RATE ADJUSTMENT



                                                               % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      10       5,586,693       6.24      8.094       357        78.48       676
14                                     2       1,292,000       1.44      7.352       350        80.00       732
15                                     1         774,996       0.87      8.990       351        81.58       688
16                                     2       1,278,235       1.43      8.197       352        82.38       644
17                                     5       2,838,679       3.17      8.269       353        86.83       638
18                                     4       2,430,547       2.71      8.441       354        82.69       583
19                                    15       8,370,593       9.35      8.022       355        83.49       660
20                                    24      14,735,558      16.46      8.396       356        83.75       641
21                                    28      17,792,895      19.87      8.199       357        79.39       655
22                                    34      21,750,283      24.29      8.059       358        81.29       639
23                                     4       2,057,680       2.30      8.153       359        82.44       657
27                                     1         620,450       0.69      8.750       351        80.00       629
31                                     1         533,804       0.60      8.850       355        90.00       604
32                                     2       1,501,299       1.68      6.737       356        88.46       680
33                                     3       1,775,906       1.98      7.557       357        79.00       645
34                                     9       5,045,665       5.63      8.072       358        82.03       654
35                                     1         569,848       0.64      8.250       359        63.33       564
58                                     1         592,500       0.66      6.500       358        79.00       699
-----------------------------------------------------------------------------------------------------------------
Total:                               147      89,547,631     100.00      8.129       357        81.62       649
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET GREATER THAN 500K BALANCES                                 147 records
                                                            Balance: $89,547,631
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                       90      55,065,691      61.49      8.117       356        82.41       648
New York                         15       8,627,031       9.63      7.986       357        82.45       688
Hawaii                           11       6,572,610       7.34      8.176       357        82.91       667
Florida                           9       6,317,102       7.05      8.147       357        77.99       626
New Jersey                        4       2,576,826       2.88      8.457       358        70.88       619
Arizona                           4       2,356,521       2.63      8.389       357        78.43       604
Massachusetts                     3       1,704,709       1.90      9.260       357        89.62       608
Maryland                          2       1,336,090       1.49      7.495       356        78.67       601
Nevada                            2       1,164,000       1.30      7.338       358        80.00       679
Connecticut                       1         599,137       0.67     11.025       356        67.42       546
Minnesota                         1         598,235       0.67      7.200       352        80.00       630
District of Columbia              1         538,046       0.60      6.625       358        78.69       647
Virginia                          1         534,476       0.60      7.975       358        80.00       655
Utah                              1         533,804       0.60      8.850       355        90.00       604
Illinois                          1         519,353       0.58      7.640       357        80.00       761
Other                             1         504,000       0.56      7.000       358        80.00       677
------------------------------------------------------------------------------------------------------------
Total:                          147      89,547,631     100.00      8.129       357        81.62       649
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 16

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Occupancy             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                         136      81,975,923      91.54      8.069       356        81.80       649
Investment                        6       4,223,915       4.72      8.564       357        78.09       656
Second Home                       5       3,347,793       3.74      9.056       357        81.52       635
------------------------------------------------------------------------------------------------------------
Total:                          147      89,547,631     100.00      8.129       357        81.62       649
------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Single Family Residence          90      53,961,537      60.26      8.066       356        82.29       645
2-4 Family                       23      13,896,924      15.52      8.130       357        80.26       678
Planned Unit Development         18      11,446,749      12.78      8.244       357        81.08       628
Condo                            16      10,242,421      11.44      8.328       357        80.51       649
------------------------------------------------------------------------------------------------------------
Total:                          147      89,547,631     100.00      8.129       357        81.62       649
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET GREATER THAN 500K BALANCES                                 147 records
                                                            Balance: $89,547,631
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout          75      46,380,061      51.79      8.203       357        81.85       631
Purchase                    66      39,528,886      44.14      8.005       356        81.36       672
Refinance--Rate Term         6       3,638,684       4.06      8.534       357        81.46       614
-------------------------------------------------------------------------------------------------------
Total:                     147      89,547,631     100.00      8.129       357        81.62       649
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

Stated Documentation        89      54,036,574      60.34      8.401       356        81.27       654
Full Documentation          49      30,457,076      34.01      7.646       357        82.54       644
Limited Documentation        9       5,053,982       5.64      8.136       357        79.71       619
-------------------------------------------------------------------------------------------------------
Total:                     147      89,547,631     100.00      8.129       357        81.62       649
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Credit Score        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------

500--524                     2       1,185,550       1.32      9.223       356        74.72       501
525--549                     3       1,662,156       1.86     10.737       357        75.47       541
550--574                     7       4,046,096       4.52      8.752       358        79.91       561
575--599                    10       6,251,031       6.98      8.458       356        78.92       587
600--624                    31      18,911,641      21.12      8.254       356        83.06       614
625--649                    25      15,749,069      17.59      8.049       356        80.68       636
650--674                    21      12,397,846      13.84      7.960       356        83.44       660
675--699                    26      16,049,853      17.92      7.857       357        81.85       688
700--724                     8       4,790,556       5.35      7.899       356        84.51       706
725--749                     6       3,683,054       4.11      8.190       357        82.62       736
750--774                     5       2,870,020       3.21      7.468       357        77.82       762
775--799                     3       1,950,759       2.18      7.052       355        80.00       781
-------------------------------------------------------------------------------------------------------
Total:                     147      89,547,631     100.00      8.129       357        81.62       649
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 788
Non-Zero Weighted Average: 649

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET GREATER THAN 500K BALANCES                                 147 records
                                                            Balance: $89,547,631
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             33      21,398,703      23.90      8.652       357        81.65       653
12                            23      13,243,455      14.79      7.925       356        81.49       676
24                            74      45,354,540      50.65      7.953       356        82.19       641
36                            17       9,550,934      10.67      8.074       357        78.97       637
---------------------------------------------------------------------------------------------------------
Total:                       147      89,547,631     100.00      8.129       357        81.62       649
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 23

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     147      89,547,631     100.00      8.129       357        81.62       649
---------------------------------------------------------------------------------------------------------
Total:                       147      89,547,631     100.00      8.129       357        81.62       649
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             97      59,912,558      66.91      8.291       357        81.44       642
60                            50      29,635,074      33.09      7.801       356        81.98       663
---------------------------------------------------------------------------------------------------------
Total:                       147      89,547,631     100.00      8.129       357        81.62       649
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 208
Aggregate Principal Balance ($): 60,521,993
Weighted Average Current Mortgage Rate (%): 7.396
Non-Zero Weighted Average Margin (%): 5.972
Non-Zero Weighted Average Maximum Rate (%): 14.074
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 81.32
% First Liens: 100.00
% Owner Occupied: 97.21
% Purchase: 49.87
% Full Doc: 100.00
Non-Zero Weighted Average Credit Score: 646

ORIGINATOR



                                              % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                      of          Date         Date      Gross     Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             22       5,579,238       9.22      7.406       357        78.93       650
Encore                 18       6,985,618      11.54      7.443       356        83.30       654
First Banc              9       2,614,029       4.32      7.649       355        77.73       610
First Horizon          10       2,607,006       4.31      8.202       357        83.70       673
First NLC              51      13,822,850      22.84      7.463       357        80.36       653
Flex Point              2         488,439       0.81      7.337       357        83.18       634
Funding America         1         426,400       0.70      7.300       355        80.00       655
Lenders Direct          2         586,899       0.97      7.096       354        82.85       641
Mandalay                3         876,000       1.45      7.685       355        80.03       663
Master Financial       15       5,307,743       8.77      7.387       354        82.98       638
New Century            62      17,344,271      28.66      7.184       357        82.15       648
Quick Loan              1         227,000       0.38      6.750       356        56.75       584
Rose Mortgage          12       3,656,500       6.04      7.344       357        80.83       612
--------------------------------------------------------------------------------------------------
Total:                208      60,521,993     100.00      7.396       357        81.32       646
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                            % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                    of          Date         Date      Gross     Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Product With IO Term          Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------

Interest Only ARM--2 Year/
6 Month--24 mo. IO term               1         221,000       0.37      6.250       358        78.93       585
Interest Only ARM--3 Year/
6 Month--36 mo. IO term               1         228,000       0.38      7.475       358        80.00       666
Interest Only Fixed--30 Year--
60 mo. IO term                        6       1,916,350       3.17      6.948       357        73.96       651
Interest Only ARM--2 Year/
6 Month--60 mo. IO term             163      48,876,648      80.76      7.438       356        82.27       645
Interest Only ARM--3 Year/
6 Month--60 mo. IO term              30       7,366,470      12.17      7.349       358        77.95       648
Interest Only ARM--5 Year/
6 Month--60 mo. IO term               4       1,238,400       2.05      6.837       358        75.53       683
Interest Only Fixed--30 Year--
120 mo. IO term                       1         331,000       0.55      6.750       357        79.95       638
Interest Only ARM--2 Year/
6 Month--120 mo. IO term              1         186,686       0.31      8.000       358        80.00       641
Interest Only ARM--5 Year/
6 Month--120 mo. IO term              1         157,439       0.26      8.570       358        89.97       627
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                               % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                             2         572,938       0.95      5.804       358        65.50       673
6.000--6.999                            55      16,169,431      26.72      6.695       357        79.47       660
7.000--7.999                           115      34,890,739      57.65      7.479       356        81.65       641
8.000--8.999                            34       8,486,301      14.02      8.406       357        83.94       643
9.000--9.999                             2         402,584       0.67      9.327       356        94.78       606
-------------------------------------------------------------------------------------------------------------------
Total:                                 208      60,521,993     100.00      7.396       357        81.32       646
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 9.600
Weighted Average: 7.396

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)              Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

75,001--100,000                        6         524,250       0.87      7.729       358        79.29       619
100,001--125,000                       6         696,700       1.15      7.871       358        77.35       634
125,001--150,000                       9       1,280,520       2.12      7.512       355        80.00       661
150,001--175,000                      12       1,959,063       3.24      7.713       357        82.85       657
175,001--200,000                      25       4,629,920       7.65      7.496       357        77.79       657
200,001--225,000                      21       4,523,384       7.47      7.661       357        82.98       628
225,001--250,000                      22       5,212,036       8.61      7.362       357        78.85       641
250,001--275,000                      16       4,215,770       6.97      7.339       357        81.24       651
275,001--300,000                      17       4,861,070       8.03      7.223       357        79.79       633
300,001--325,000                       8       2,513,090       4.15      6.813       356        78.64       636
325,001--350,000                       9       3,045,397       5.03      7.542       356        81.66       633
350,001--375,000                       9       3,258,050       5.38      7.341       357        81.64       665
375,001--400,000                       8       3,105,970       5.13      7.243       357        81.92       642
400,001--425,000                       7       2,863,600       4.73      7.155       357        80.16       635
425,001--450,000                       4       1,758,405       2.91      7.380       356        81.26       625
450,001--475,000                       5       2,290,322       3.78      7.469       356        86.04       661
475,001--500,000                       4       1,952,000       3.23      7.212       356        81.03       654
500,001--750,000                      19      10,977,446      18.14      7.434       356        83.19       656
750,001--1,000,000                     1         855,000       1.41      7.990       357        90.00       671
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Minimum: 76,800
Maximum: 855,000
Average: 290,971

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

360                                  208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining    Combined  Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term      Original    FICO
         (months)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

349--360                             208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Minimum: 351
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

35.01--40.00                           1         180,000       0.30      7.000       358        39.56       632
50.01--55.00                           2         486,900       0.80      6.744       357        52.65       638
55.01--60.00                           2         352,000       0.58      6.954       357        57.73       596
60.01--65.00                           3         594,750       0.98      7.207       357        65.00       622
65.01--70.00                           3       1,126,300       1.86      7.390       356        69.79       613
70.01--75.00                           4       1,119,200       1.85      7.070       357        74.37       630
75.01--80.00                         143      39,339,323      65.00      7.288       357        79.78       649
80.01--85.00                          17       5,632,374       9.31      7.586       357        83.77       634
85.01--90.00                          22       8,356,539      13.81      7.564       356        88.77       643
90.01--95.00                          11       3,334,607       5.51      8.246       357        94.71       666
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Minimum: 39.56
Maximum: 95.00
Weighted Average: 81.32

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Range of Gross Margins (%)       Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       7       2,247,350       3.71      6.919       357        74.84       649
<= 3.500                               4         933,586       1.54      6.905       358        71.10       659
3.501--4.000                           6       1,688,224       2.79      6.957       358        79.54       672
4.001--4.500                           3         703,400       1.16      7.440       358        80.21       639
4.501--5.000                           8       2,204,207       3.64      7.655       356        80.44       667
5.001--5.500                          25       8,866,758      14.65      7.375       356        83.01       645
5.501--6.000                          46      13,624,133      22.51      7.440       357        82.86       655
6.001--6.500                          68      18,656,007      30.83      7.179       357        81.17       640
6.501--7.000                          17       4,472,889       7.39      7.833       357        81.02       645
7.001--7.500                          22       6,294,439      10.40      7.794       356        80.61       639
7.501--8.000                           2         831,000       1.37      8.438       356        84.22       616
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 7.750
Non-Zero Weighted Average: 5.972

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             (%)                   Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       7       2,247,350       3.71      6.919       357        74.84       649
5.501--6.000                           2         572,938       0.95      5.804       358        65.50       673
6.001--6.500                          15       4,815,936       7.96      6.380       358        80.85       665
6.501--7.000                          43      12,844,569      21.22      6.882       357        79.38       650
7.001--7.500                          55      15,325,434      25.32      7.270       356        81.35       644
7.501--8.000                          53      16,303,837      26.94      7.786       357        82.68       641
8.001--8.500                          21       5,360,963       8.86      8.301       356        82.98       637
8.501--9.000                          10       2,648,382       4.38      8.692       358        86.57       655
9.001--9.500                           1         220,184       0.36      9.100       356        95.00       611
9.501--10.000                          1         182,400       0.30      9.600       357        94.51       601
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 9.600
Non-Zero Weighted Average: 7.415

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
   Range of Maximum Mortgage      Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Rates (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       7       2,247,350       3.71      6.919       357        74.84       649
<= 12.500                              9       3,433,734       5.67      6.816       356        80.15       651
12.501--13.000                        12       4,356,638       7.20      7.347       357        81.07       647
13.001--13.500                        21       6,829,036      11.28      6.893       357        82.39       655
13.501--14.000                        42      11,819,010      19.53      7.005       357        80.50       649
14.001--14.500                        48      12,741,368      21.05      7.341       356        81.29       650
14.501--15.000                        43      12,495,451      20.65      7.783       357        81.07       636
15.001--15.500                        17       4,106,063       6.78      8.314       356        82.62       633
15.501--16.000                         8       2,310,943       3.82      8.714       358        89.02       659
16.501--17.000                         1         182,400       0.30      9.600       357        94.51       601
-----------------------------------------------------------------------------------------------------------------
Total:                               208      60,521,993     100.00      7.396       357        81.32       646
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.200
Maximum: 16.600
Non-Zero Weighted Average: 14.074

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      7       2,247,350       3.71      6.919       357        74.84       649
1.000                                 1         240,000       0.40      6.850       357        77.42       636
1.500                                39      11,205,259      18.51      7.253       356        80.27       639
2.000                                70      21,458,811      35.46      7.317       357        82.20       649
3.000                                89      25,026,448      41.35      7.564       356        81.61       647
5.000                                 1         157,439       0.26      8.570       358        89.97       627
6.000                                 1         186,686       0.31      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.350

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      7       2,247,350       3.71      6.919       357        74.84       649
1.000                                70      22,657,134      37.44      7.537       356        82.33       641
1.500                               130      35,430,823      58.54      7.334       357        81.09       650
2.000                                 1         186,686       0.31      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.307

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      7       2,247,350       3.71      6.919       357        74.84       649
15                                    2         328,000       0.54      7.413       351        80.00       598
16                                    4       1,073,172       1.77      7.294       352        83.66       637
17                                    6       1,640,862       2.71      7.564       353        83.02       625
18                                   13       4,076,068       6.73      7.344       354        81.98       622
19                                   13       4,714,444       7.79      7.335       355        81.72       644
20                                   34      11,222,850      18.54      7.583       356        81.82       643
21                                   33      10,301,540      17.02      7.563       357        81.70       639
22                                   55      14,447,898      23.87      7.293       358        82.86       658
23                                    5       1,479,500       2.44      7.340       359        84.25       677
32                                    2         467,600       0.77      7.619       356        79.80       619
33                                    8       2,384,232       3.94      7.175       357        76.94       634
34                                   19       4,476,088       7.40      7.454       358        78.58       659
35                                    2         266,550       0.44      6.791       359        75.06       675
57                                    1         218,000       0.36      8.775       357        94.78       716
58                                    3       1,056,839       1.75      6.576       358        73.06       672
59                                    1         121,000       0.20      7.875       359        81.21       651
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 15
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

California                           68      26,241,040      43.36      7.366       356        81.79       649
Florida                              34       7,487,984      12.37      7.470       357        82.40       654
Maryland                             14       4,034,670       6.67      7.455       357        77.10       630
New York                              9       3,931,558       6.50      7.428       357        81.74       664
Nevada                               12       3,253,808       5.38      7.096       357        80.22       638
Arizona                               9       2,337,133       3.86      7.091       356        79.75       642
Illinois                              6       1,424,760       2.35      7.837       358        81.86       651
Georgia                               6       1,350,842       2.23      8.180       357        82.75       631
Washington                            6       1,257,868       2.08      7.175       357        80.88       644
Rhode Island                          5       1,205,300       1.99      7.265       358        83.49       606
Massachusetts                         4       1,137,750       1.88      7.952       357        83.44       612
Colorado                              6       1,001,400       1.65      7.717       356        82.35       651
Hawaii                                2         757,250       1.25      6.774       357        78.11       702
Virginia                              3         753,550       1.25      7.336       358        81.32       627
New Jersey                            3         720,409       1.19      7.227       356        83.22       623
Other                                21       3,626,670       5.99      7.400       357        79.92       642
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 32

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Occupancy               Loans     Balance ($)   Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Primary                             202      58,834,557      97.21      7.391       357        81.34       645
Investment                            3       1,128,750       1.87      7.478       358        80.90       679
Second Home                           3         558,686       0.92      7.736       358        80.00       713
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Property Type             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Single Family Residence             150      42,703,496      70.56      7.393       357        80.81       641
Planned Unit Development             22       6,503,878      10.75      7.376       357        84.67       650
2-4 Family                           15       5,872,170       9.70      7.520       357        82.55       672
Condo                                21       5,442,448       8.99      7.311       356        79.98       654
----------------------------------------------------------------------------------------------------------------
Total:                              208      60,521,993     100.00      7.396       357        81.32       646
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Purchase                  110      30,184,206      49.87      7.380       357        80.84       656
Refinance--Cashout         87      26,926,647      44.49      7.398       357        81.47       634
Refinance--Rate Term       11       3,411,139       5.64      7.523       357        84.36       653
------------------------------------------------------------------------------------------------------
Total:                    208      60,521,993     100.00      7.396       357        81.32       646
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Full Documentation        208      60,521,993     100.00      7.396       357        81.32       646
------------------------------------------------------------------------------------------------------
Total:                    208      60,521,993     100.00      7.396       357        81.32       646
------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

500--524                    1         216,000       0.36      7.500       359        90.00       519
575--599                   12       3,625,600       5.99      7.190       356        78.13       586
600--624                   71      20,640,037      34.10      7.553       356        81.74       613
625--649                   50      13,694,954      22.63      7.391       357        80.14       637
650--674                   25       6,940,983      11.47      7.476       357        81.54       661
675--699                   24       7,624,047      12.60      7.239       357        81.88       686
700--724                   11       3,682,410       6.08      7.037       357        82.55       715
725--749                   11       2,994,962       4.95      7.385       357        83.12       735
750--774                    2         735,000       1.21      7.288       358        84.10       769
775--799                    1         368,000       0.61      6.425       359        80.00       777
------------------------------------------------------------------------------------------------------
Total:                    208      60,521,993     100.00      7.396       357        81.32       646
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 519
Maximum: 777
Non-Zero Weighted Average: 646

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--FULL DOC                                    208 records
                                                            Balance: $60,521,993
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             41      11,567,371      19.11      7.796       357        82.39       643
6                              1         180,000       0.30      7.699       358        80.00       675
12                            19       6,997,594      11.56      7.427       357        79.48       634
24                           113      33,357,046      55.12      7.287       356        82.32       648
36                            32       7,992,082      13.21      7.297       357        78.34       652
60                             2         427,900       0.71      6.315       358        60.93       645
---------------------------------------------------------------------------------------------------------
Total:                       208      60,521,993     100.00      7.396       357        81.32       646
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 24

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
         Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     208      60,521,993     100.00      7.396       357        81.32       646
---------------------------------------------------------------------------------------------------------
Total:                       208      60,521,993     100.00      7.396       357        81.32       646
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

24                             1         221,000       0.37      6.250       358        78.93       585
36                             1         228,000       0.38      7.475       358        80.00       666
60                           203      59,397,868      98.14      7.399       357        81.32       647
120                            3         675,125       1.12      7.520       358        82.30       636
---------------------------------------------------------------------------------------------------------
Total:                       208      60,521,993     100.00      7.396       357        81.32       646
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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(c) 2005 Morgan Stanley
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                            ASSET-BACKED SECURITIES

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                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 319
Aggregate Principal Balance ($): 95,645,345
Weighted Average Current Mortgage Rate (%): 7.762
Non-Zero Weighted Average Margin (%): 6.275
Non-Zero Weighted Average Maximum Rate (%): 14.549
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 79.96
% First Liens: 100.00
% Owner Occupied: 98.67
% Purchase: 82.95
% Full Doc: 34.70
Non-Zero Weighted Average Credit Score: 667

ORIGINATOR



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted    Weighted
                                       Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                         of          Date        Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Originator                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Accredited                                34      8,772,993        9.17      7.589       358        79.55       682
Chapel                                     6      1,885,075        1.97      7.535       351        80.00       652
Encore                                    18      7,210,838        7.54      7.808       355        80.16       693
First Banc                                11      2,867,116        3.00      7.643       354        80.00       635
First Horizon                              9      2,388,393        2.50      8.672       358        80.00       660
First NLC                                129     38,026,248       39.76      7.887       357        79.82       668
Funding America                            1        268,000        0.28      7.450       354        80.00       641
Lenders Direct                             4      1,497,097        1.57      7.966       353        79.03       646
Lime Financial                            11      4,265,000        4.46      7.568       355        80.00       657
Mandalay                                   3        560,000        0.59      8.151       355        80.00       631
Master Financial                          19      6,746,795        7.05      7.731       355        79.83       682
New Century                               71     20,194,790       21.11      7.512       357        80.25       655
Rose Mortgage                              3        963,000        1.01      8.453       357        83.14       657
----------------------------------------------------------------------------------------------------------------------
Total:                                   319     95,645,345      100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                         of          Date        Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Product With IO Term            Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Interest Only ARM--2 Year/6
Month--24 mo. IO term                      1         210,400       0.22      8.250       358        80.00       628
Interest Only ARM--3 Year/6
Month--36 mo. IO term                      2         444,000       0.46      7.937       358        80.00       638
Interest Only Fixed--30 Year--
60 mo. IO term                             5       1,527,800       1.60      8.103       357        81.98       663
Interest Only ARM--2 Year/6
Month--60 mo. IO term                    261      80,869,314      84.55      7.752       356        79.88       666
Interest Only ARM--3 Year/6
Month--60 mo. IO term                     47      12,135,146      12.69      7.776       357        80.20       676
Interest Only ARM--5 Year/6
Month--60 mo. IO term                      1         180,000       0.19      7.500       357        80.00       700
Interest Only ARM--2 Year/6
Month--120 mo. IO term                     1         186,686       0.20      8.000       358        80.00       641
Interest Only ARM--3 Year/6
Month--120 mo. IO term                     1          92,000       0.10      7.250       359        80.00       652
---------------------------------------------------------------------------------------------------------------------
Total:                                   319      95,645,345     100.00      7.762       357        79.96       667
---------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                         of          Date        Date        Gross    Remaining   Combined    Average
 Range of Gross Interest Rates        Mortgage    Principal    Principal   Interest      Term     Original     FICO
             (%)                        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1          266,038       0.28      5.925       358        80.00       707
6.000--6.999                             45       13,505,338      14.12      6.797       357        80.00       667
7.000--7.999                            169       52,782,055      55.19      7.554       356        79.86       668
8.000--8.999                             84       22,973,732      24.02      8.410       357        79.97       663
9.000--9.999                             19        5,727,469       5.99      9.289       357        80.69       663
10.000--10.999                            1          390,713       0.41     10.000       357        80.00       703
---------------------------------------------------------------------------------------------------------------------
Total:                                  319       95,645,345     100.00      7.762       357        79.96       667
---------------------------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 10.000
Weighted Average: 7.762

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

50,001--75,000                         1          72,800       0.08      9.590       357        80.00       630
75,001--100,000                        7         610,129       0.64      7.844       357        79.62       630
100,001--125,000                       6         673,022       0.70      7.921       357        80.00       670
125,001--150,000                      16       2,204,520       2.30      7.932       356        80.00       658
150,001--175,000                      17       2,762,879       2.89      7.871       357        80.85       678
175,001--200,000                      39       7,251,478       7.58      7.862       357        80.00       673
200,001--225,000                      22       4,687,639       4.90      7.835       357        80.00       663
225,001--250,000                      32       7,596,247       7.94      7.681       357        80.00       657
250,001--275,000                      28       7,356,877       7.69      7.547       357        80.70       664
275,001--300,000                      16       4,535,649       4.74      7.591       357        80.00       651
300,001--325,000                      11       3,434,260       3.59      7.675       357        80.92       681
325,001--350,000                      13       4,417,879       4.62      7.824       356        80.00       657
350,001--375,000                      20       7,231,840       7.56      7.870       357        80.00       662
375,001--400,000                      21       8,193,191       8.57      7.756       357        79.52       677
400,001--425,000                      14       5,797,429       6.06      7.783       356        80.00       672
425,001--450,000                      11       4,835,750       5.06      7.691       357        80.00       640
450,001--475,000                       7       3,244,152       3.39      7.817       357        80.93       694
475,001--500,000                      14       6,855,760       7.17      7.883       356        77.82       657
500,001--750,000                      22      12,328,848      12.89      7.650       356        80.00       672
750,001--1,000,000                     2       1,554,996       1.63      8.288       350        80.79       732
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 780,000
Average: 299,829

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)   (months)       LTV       Score
-----------------------------------------------------------------------------------------------------------------

360                                  319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

349--360                             319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

65.01--70.00                           1         390,600       0.41      7.499       359        70.00       680
70.01--75.00                           2       1,000,000       1.05      8.415       355        71.43       679
75.01--80.00                         310      91,999,779      96.19      7.726       357        79.93       667
80.01--85.00                           1         774,996       0.81      8.990       351        81.58       688
85.01--90.00                           4       1,314,970       1.37      9.098       358        88.69       663
90.01--95.00                           1         165,000       0.17      7.990       355        94.29       606
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------


Minimum: 70.00
Maximum: 94.29
Weighted Average: 79.96

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       5       1,527,800       1.60      8.103       357        81.98       663
<= 3.500                               5       1,109,286       1.16      7.476       358        76.48       670
3.501--4.000                           5       1,278,224       1.34      6.946       358        80.00       703
4.001--4.500                           7       2,259,596       2.36      7.492       358        80.00       680
4.501--5.000                          21       5,780,559       6.04      7.869       357        80.55       687
5.001--5.500                          29      10,635,172      11.12      7.713       355        79.70       682
5.501--6.000                          34      10,516,100      10.99      7.524       356        79.86       678
6.001--6.500                          99      28,750,881      30.06      7.517       357        80.18       652
6.501--7.000                          32       9,139,571       9.56      7.532       357        80.00       674
7.001--7.500                          61      17,426,149      18.22      8.078       357        79.97       669
7.501--8.000                          13       4,488,650       4.69      8.639       357        79.53       650
8.001--8.500                           7       2,642,229       2.76      9.056       358        78.38       641
8.501--9.000                           1          91,129       0.10      9.250       352        80.00       628
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.000
Non-Zero Weighted Average: 6.275

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       5       1,527,800       1.60      8.103       357        81.98       663
5.501--6.000                           3         987,135       1.03      7.674       353        78.53       647
6.001--6.500                           8       2,033,036       2.13      6.418       358        80.00       676
6.501--7.000                          42      13,331,501      13.94      6.884       356        80.00       662
7.001--7.500                          74      22,069,329      23.07      7.314       357        79.82       661
7.501--8.000                          91      28,663,783      29.97      7.790       356        79.89       676
8.001--8.500                          54      14,878,656      15.56      8.284       357        79.74       671
8.501--9.000                          24       6,746,923       7.05      8.750       356        80.65       648
9.001--9.500                          14       4,207,669       4.40      9.213       357        80.23       668
9.501--10.000                          4       1,199,513       1.25      9.895       357        80.00       656
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00      7.762       357        79.96       667
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 10.000
Non-Zero Weighted Average: 7.737

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       5       1,527,800       1.60     8.103        357        81.98      663
<= 12.500                              5       2,054,484       2.15     6.982        356        79.95      671
12.501--13.000                        13       4,775,238       4.99     7.296        355        80.00      684
13.001--13.500                        19       5,020,822       5.25     7.094        356        80.00      663
13.501--14.000                        41      12,065,300      12.61     7.073        357        80.00      654
14.001--14.500                        68      20,566,254      21.50     7.397        357        79.81      663
14.501--15.000                        81      25,464,894      26.62     7.820        356        79.82      674
15.001--15.500                        48      12,919,145      13.51     8.277        357        79.70      673
15.501--16.000                        21       5,800,226       6.06     8.741        357        80.75      650
16.001--16.500                        14       4,251,669       4.45     9.194        357        80.22      667
16.501--17.000                         4       1,199,513       1.25     9.895        357        80.00      656
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00     7.762        357        79.96      667
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.700
Maximum: 17.000
Non-Zero Weighted Average: 14.549

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       5       1,527,800       1.60     8.103        357        81.98      663
1.500                                 49      13,807,643      14.44     7.451        357        80.08      663
2.000                                 78      23,741,808      24.82     7.666        357        80.05      671
3.000                                185      56,289,408      58.85     7.869        356        79.83      666
6.000                                  2         278,686       0.29     7.752        358        80.00      645
-----------------------------------------------------------------------------------------------------------------
Total:                               319      95,645,345     100.00     7.762        357        79.96      667
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.537

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      5       1,527,800       1.60      8.103       357        81.98       663
1.000                                83      26,873,184      28.10      7.770       355        79.90       663
1.500                               227      65,410,679      68.39      7.738       357        79.91       667
2.000                                 4       1,833,682       1.92      8.206       352        80.67       719
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.367

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      5       1,527,800       1.60      8.103       357        81.98       663
14                                    3       1,484,000       1.55      7.307       350        80.00       726
15                                    8       2,893,693       3.03      7.992       351        78.44       653
16                                    3         557,047       0.58      8.148       352        80.00       678
17                                   11       3,028,445       3.17      7.609       353        80.00       654
18                                   12       3,543,169       3.70      7.484       354        80.00       628
19                                   15       5,443,340       5.69      7.559       355        80.43       667
20                                   46      15,286,166      15.98      7.789       356        79.78       669
21                                   61      19,143,637      20.02      7.771       357        80.15       662
22                                   97      27,745,903      29.01      7.827       358        79.89       667
23                                    7       2,141,000       2.24      7.426       359        78.18       694
27                                    1         620,450       0.65      8.750       351        80.00       629
28                                    1          91,129       0.10      9.250       352        80.00       628
32                                    5       1,604,226       1.68      7.859       356        79.94       677
33                                    9       2,027,702       2.12      7.600       357        80.00       680
34                                   32       8,056,838       8.42      7.747       358        80.31       677
35                                    2         270,800       0.28      6.814       359        80.00       689
57                                    1         180,000       0.19      7.500       357        80.00       700
---------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 57
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                      149     54,909,449       57.41      7.778       356        79.83       668
Florida                          47     10,588,543       11.07      7.849       356        80.14       678
Arizona                          18      3,818,605        3.99      8.184       356        79.62       642
Nevada                           14      3,812,358        3.99      7.254       356        80.00       661
Maryland                         13      3,711,020        3.88      7.531       357        80.00       673
Illinois                          9      2,402,871        2.51      7.805       358        78.37       666
New York                          6      2,277,725        2.38      7.413       358        80.00       688
Hawaii                            4      2,218,996        2.32      7.931       355        80.55       671
Georgia                           6      1,449,392        1.52      7.803       356        80.00       665
Virginia                          5      1,275,150        1.33      7.650       358        80.00       655
Rhode Island                      4      1,266,300        1.32      7.055       358        80.00       649
Massachusetts                     3      1,005,400        1.05      8.251       357        83.00       642
Colorado                          6      1,001,400        1.05      7.717       356        82.35       651
Washington                        5        999,268        1.04      6.862       358        80.00       666
Texas                             4        781,742        0.82      8.592       357        80.00       680
Other                            26      4,127,125        4.32      7.870       357        80.61       655
------------------------------------------------------------------------------------------------------------
Total:                          319     95,645,345      100.00      7.762       357        79.96       667
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 31

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Occupancy            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                         313     94,378,019      98.67       7.753       357        79.96      666
Second Home                       6      1,267,326       1.33       8.448       358        80.00      701
------------------------------------------------------------------------------------------------------------
Total:                          319     95,645,345     100.00       7.762       357        79.96      667
------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Property Type          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Single Family Residence         248     73,393,592       76.74      7.757       357        80.05      666
Condo                            27      8,052,356        8.42      7.888       356        80.00      664
2-4 Family                       19      7,178,297        7.51      7.829       357        79.28      684
Planned Unit Development         25      7,021,100        7.34      7.595       356        79.63      660
------------------------------------------------------------------------------------------------------------
Total:                          319     95,645,345      100.00      7.762       357        79.96      667
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
         Loan Purpose              Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

Purchase                            268      79,341,481      82.95      7.787       356        79.91       669
Refinance--Cashout                   45      15,111,064      15.80      7.641       357        80.21       657
Refinance--Rate Term                  6       1,192,800       1.25      7.641       357        80.00       651
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Documentation Level           Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

Stated Documentation                178      56,230,729      58.79      8.031       357        79.91       678
Full Documentation                  125      33,186,344      34.70      7.362       357        80.07       652
Limited Documentation                16       6,228,273       6.51      7.459       356        79.77       650
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
         Credit Score              Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

575--599                              4         701,600       0.73      7.181       357        80.00       593
600--624                             57      17,252,015      18.04      7.666       356        80.20       614
625--649                             67      19,095,731      19.97      7.857       356        79.99       637
650--674                             69      21,201,663      22.17      7.829       357        79.71       661
675--699                             56      17,175,884      17.96      7.831       356        79.92       685
700--724                             33       9,690,863      10.13      7.698       357        80.00       711
725--749                             16       4,549,469       4.76      7.308       357        80.00       735
750--774                             12       3,738,200       3.91      7.929       357        80.00       761
775--799                              5       2,239,920       2.34      7.623       355        80.00       779
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 589
Maximum: 789
Non-Zero Weighted Average: 667

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY--SILENT SECOND                               319 records
                                                            Balance: $95,645,345
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                    60      19,139,914      20.01      8.163       357        80.13       679
6                                     3         970,600       1.01      7.588       358        75.98       704
12                                   24       8,520,771       8.91      7.921       357        80.00       668
24                                  176      52,346,107      54.73      7.617       356        79.99       660
30                                    1         180,000       0.19      8.350       358        80.00       677
36                                   54      14,307,953      14.96      7.669       357        79.84       673
60                                    1         180,000       0.19      7.500       357        80.00       700
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Lien Position                  Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

1st Lien                            319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
      Interest Only Term           Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

24                                    1         210,400       0.22      8.250       358        80.00       628
36                                    2         444,000       0.46      7.937       358        80.00       638
60                                  314      94,712,259      99.02      7.760       357        79.96       667
120                                   2         278,686       0.29      7.752       358        80.00       645
----------------------------------------------------------------------------------------------------------------
Total:                              319      95,645,345     100.00      7.762       357        79.96       667
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 531
Aggregate Principal Balance ($): 162,508,006
Weighted Average Current Mortgage Rate (%): 7.762
Non-Zero Weighted Average Margin (%): 6.280
Non-Zero Weighted Average Maximum Rate (%): 14.508
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.60
% First Liens: 100.00
% Owner Occupied: 97.79
% Purchase: 58.50
% Full Doc: 37.24
Non-Zero Weighted Average Credit Score: 659

ORIGINATOR



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of         Date          Date      Gross     Remaining   Combined    Average     Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Originator               Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------

Accredited                          49      13,082,792       8.05      7.589        358       79.01       671       43.57
Chapel                               6       1,885,075       1.16      7.535        351       80.00       652       46.35
Encore                              37      13,880,070       8.54      7.604        355       78.81       665       43.12
First Banc                          19       5,514,935       3.39      7.688        354       80.26       633       42.52
First Horizon                       16       5,181,741       3.19      8.844        357       84.22       664       44.38
First NLC                          212      61,420,801      37.80      7.898        357       80.40       664       43.71
Flex Point                           3         737,764       0.45      8.152        355       72.49       607       37.27
Funding America                      4       1,241,600       0.76      7.255        355       80.00       664       42.21
Lenders Direct                       5       1,831,996       1.13      7.821        353       80.12       648       42.49
Lime Financial                      12       4,453,000       2.74      7.554        355       80.00       657       46.57
Mandalay                             7       1,907,952       1.17      7.687        354       80.02       673       44.57
Master Financial                    32      11,908,630       7.33      7.740        355       83.40       663       42.18
New Century                        107      31,578,149      19.43      7.566        358       81.46       651       43.23
Quick Loan                           3         933,500       0.57      7.240        357       77.18       642       45.70
Rose Mortgage                       19       6,950,000       4.28      7.702        357       80.03       637       38.16
--------------------------------------------------------------------------------------------------------------------------
Total:                             531     162,508,006     100.00      7.762        357       80.60       659       43.27
--------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of         Date          Date      Gross     Remaining   Combined    Average     Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
    Product with IO term          Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score       Ratio
--------------------------------------------------------------------------------------------------------------------------

Interest Only ARM--2 Year/6          2         431,400       0.27      7.225        358       79.45       606       29.07
Month--24 mo. IO term
Interest Only ARM--3 Year/6          3         639,500       0.39      7.938        358       77.28       631       39.93
Month--36 mo. IO term
Interest Only Fixed--30             14       4,480,985       2.76      7.527        357       77.12       657       42.09
Year--60 mo. IO term
Interest Only ARM--2 Year/6        421     132,088,152      81.28      7.780        356       80.77       658       43.38
Month--60 mo. IO term
Interest Only ARM--3 Year/6         81      22,362,444      13.76      7.772        357       80.65       666       43.30
Month--60 mo. IO term
Interest Only ARM--5 Year/6          5       1,418,400       0.87      6.921        358       76.10       686       42.26
Month--60 mo. IO term
Interest Only Fixed--30              1         331,000       0.20      6.750        357       79.95       638       37.02
Year--120 mo. IO term
Interest Only ARM--2 Year/6          1         186,686       0.11      8.000        358       80.00       641       46.89
Month--120 mo. IO term
Interest Only ARM--3 Year/6          1          92,000       0.06      7.250        359       80.00       652       44.60
Month--120 mo. IO term
Interest Only ARM--5 Year/6          2         477,439       0.29      8.188        357       83.29       646       44.81
Month--120 mo. IO term
--------------------------------------------------------------------------------------------------------------------------
Total:                             531     162,508,006     100.00      7.762        357       80.60       659       43.27
--------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                   of         Date          Date      Gross     Remaining   Combined    Average     Back
Range of Gross Interest Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
             (%)                  Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------------

5.000--5.999                         2         572,938       0.35      5.804        358       65.50       673       44.44
6.000--6.999                        85      25,390,729      15.62      6.734        357       78.05       663       43.29
7.000--7.999                       265      85,140,149      52.39      7.538        356       80.41       660       42.66
8.000--8.999                       137      38,660,074      23.79      8.421        357       81.59       657       43.86
9.000--9.999                        39      11,629,803       7.16      9.326        357       84.42       650       45.49
10.000--10.999                       3       1,114,313       0.69     10.145        358       86.49       646       44.86
--------------------------------------------------------------------------------------------------------------------------
Total:                             531     162,508,006     100.00      7.762        357       80.60       659       43.27
--------------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 10.965
Weighted Average: 7.762

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted   Average
                                    of         Date          Date      Gross     Remaining   Combined   Average      Back
     Range of Cut-off Date       Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
    Principal Balances ($)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

50,001--75,000                        1          72,800       0.04      9.590       357        80.00       630       47.30
75,001--100,000                      10         878,879       0.54      7.859       357        79.31       627       43.00
100,001--125,000                     16       1,804,208       1.11      8.123       357        74.02       660       38.76
125,001--150,000                     20       2,755,396       1.70      7.876       356        78.86       658       41.62
150,001--175,000                     25       4,068,308       2.50      7.825       357        80.95       672       42.79
175,001--200,000                     57      10,629,953       6.54      7.965       357        79.42       663       42.58
200,001--225,000                     51      10,935,227       6.73      7.805       357        80.18       650       42.60
225,001--250,000                     49      11,602,322       7.14      7.736       357        78.71       648       43.77
250,001--275,000                     40      10,544,077       6.49      7.794       357        80.79       663       44.18
275,001--300,000                     35      10,052,404       6.19      7.531       357        79.71       645       43.24
300,001--325,000                     22       6,868,380       4.23      7.480       357        80.27       667       40.88
325,001--350,000                     26       8,802,686       5.42      7.845       356        82.86       657       42.22
350,001--375,000                     30      10,848,988       6.68      7.877       357        80.64       663       43.90
375,001--400,000                     27      10,507,241       6.47      7.696       357        80.68       673       44.46
400,001--425,000                     21       8,648,929       5.32      7.662       356        80.53       660       44.86
425,001--450,000                     16       7,033,524       4.33      7.660       356        82.03       640       43.97
450,001--475,000                     11       5,076,400       3.12      7.613       357        81.96       670       44.75
475,001--500,000                     24      11,743,210       7.23      7.769       356        79.42       659       43.90
500,001--750,000                     46      26,225,078      16.14      7.744       356        82.22       659       43.21
750,001--1,000,000                    4       3,409,996       2.10      8.239       354        80.16       688       39.40
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                 Number      Cut-off      Cut-off    Average     Average     Average   Weighted   Average
                                   of         Date          Date      Gross     Remaining   Combined   Average      Back
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
Stated Original Term (months)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score       Ratio
--------------------------------------------------------------------------------------------------------------------------

360                                531     162,508,006     100.00      7.762       357        80.60       659       43.27
--------------------------------------------------------------------------------------------------------------------------
Total:                             531     162,508,006     100.00      7.762       357        80.60       659       43.27
--------------------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                        % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted   Average
                                of         Date          Date      Gross     Remaining   Combined   Average      Back
 Range of Stated Remaining   Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
        Term (months)          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

349--360                        531     162,508,006     100.00      7.762       357        80.60       659       43.27
-----------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659       43.27
-----------------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted   Average
                                of         Date          Date      Gross     Remaining   Combined   Average      Back
Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
      LTV Ratios (%)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

20.01--25.00                      1         120,000       0.07      7.750       358        22.64       619       39.06
35.01--40.00                      3         980,000       0.60      7.540       357        39.09       638       44.02
40.01--45.00                      1         220,000       0.14      6.300       358        41.90       711       40.27
50.01--55.00                      6       1,302,051       0.80      7.568       356        52.05       617       43.41
55.01--60.00                      4         690,000       0.42      6.902       357        57.85       623       38.80
60.01--65.00                      7       1,753,635       1.08      6.908       357        64.13       647       39.25
65.01--70.00                      8       2,547,235       1.57      7.438       357        69.85       634       40.96
70.01--75.00                     13       4,722,659       2.91      7.664       356        72.81       641       38.27
75.01--80.00                    381     113,472,926      69.83      7.679       357        79.84       665       44.05
80.01--85.00                     39      12,567,069       7.73      7.970       356        84.03       647       40.23
85.01--90.00                     47      17,656,309      10.86      8.085       356        89.19       639       42.59
90.01--95.00                     20       6,146,122       3.78      8.543       356        94.80       666       43.57
95.01--100.00                     1         330,000       0.20      9.300       358       100.00       733       42.25
-----------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659       43.27
-----------------------------------------------------------------------------------------------------------------------


Minimum: 22.64
Maximum: 100.00
Weighted Average: 80.60

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted   Average
                                of         Date          Date      Gross     Remaining   Combined   Average      Back
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 15       4,811,985       2.96      7.474       357        77.31       655       41.74
<= 3.500                          8       1,956,186       1.20      7.151       358        69.47       668       45.62
3.501--4.000                      8       2,289,223       1.41      6.944       358        80.27       669       45.94
4.001--4.500                     10       3,096,596       1.91      7.505       358        80.60       676       41.77
4.501--5.000                     25       7,106,379       4.37      7.814       357        81.29       682       43.09
5.001--5.500                     57      20,129,793      12.39      7.585       355        80.46       665       42.16
5.501--6.000                     77      23,334,920      14.36      7.638       356        81.66       663       43.51
6.001--6.500                    139      43,001,176      26.46      7.533       357        80.79       650       43.50
6.501--7.000                     55      16,123,002       9.92      7.704       357        80.04       661       42.05
7.001--7.500                    106      30,298,114      18.64      8.113       357        80.79       662       43.27
7.501--8.000                     19       5,841,424       3.59      8.675       356        79.42       647       46.46
8.001--8.500                     10       3,995,829       2.46      9.066       357        82.32       629       45.28
8.501--9.000                      2         523,379       0.32      9.580       357        92.39       629       48.25
-----------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659       43.27
-----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.000
Non-Zero Weighted Average: 6.280

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted   Average
                                of         Date          Date      Gross     Remaining   Combined   Average      Back
 Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
         Rates (%)             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score      Ratio
-----------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 15       4,811,985       2.96      7.474       357        77.31       655        41.74
5.501--6.000                      4       1,294,035       0.80      7.205       354        72.46       646        42.75
6.001--6.500                     19       6,204,932       3.82      6.373       357        78.19       674        41.64
6.501--7.000                     71      21,585,871      13.28      6.887       356        78.64       655        44.36
7.001--7.500                    114      35,085,333      21.59      7.290       356        80.10       658        42.69
7.501--8.000                    141      45,497,813      28.00      7.801       357        80.88       663        42.69
8.001--8.500                     79      22,676,987      13.95      8.273       357        80.87       663        43.53
8.501--9.000                     49      13,537,434       8.33      8.739       357        83.13       649        43.77
9.001--9.500                     23       7,512,953       4.62      9.200       357        83.90       659        45.27
9.501--10.000                    14       3,577,063       2.20      9.727       357        85.09       638        46.88
10.001 -10.500                    1         620,100       0.38     10.100       358        90.00       606        43.76
10.501--11.000                    1         103,500       0.06     10.965       358        90.00       675        36.08
-----------------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60       659        43.27
-----------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 10.965
Non-Zero Weighted Average: 7.759

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average     Average    Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
   Range of Maximum Mortgage     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
           Rates (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655       41.74
<= 12.500                            14       5,475,480       3.37      6.769       356        73.46       655       43.63
12.501--13.000                       27       9,368,688       5.77      7.344       356        80.57       661       42.06
13.001--13.500                       34      10,506,022       6.46      7.007       356        80.74       661       41.66
13.501--14.000                       70      20,030,314      12.33      7.118       356        79.32       654       44.79
14.001--14.500                      101      31,259,393      19.24      7.404       357        80.37       660       42.84
14.501--15.000                      120      38,407,919      23.63      7.822       356        80.12       663       42.45
15.001--15.500                       71      19,711,476      12.13      8.288       357        81.45       666       43.83
15.501--16.000                       43      12,039,123       7.41      8.764       357        84.02       648       43.86
16.001--16.500                       21       6,846,269       4.21      9.188       356        83.08       660       45.20
16.501--17.000                       13       3,327,738       2.05      9.726       357        87.60       644       47.93
17.001--17.500                        1         620,100       0.38     10.100       358        90.00       606       43.76
17.501--18.000                        1         103,500       0.06     10.965       358        90.00       675       36.08
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.200
Maximum: 17.965
Non-Zero Weighted Average: 14.508

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of         Date          Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal    Interest     Term     Original     FICO        DTI
   Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655       41.74
1.000                                 1         240,000       0.15      6.850       357        77.42       636       41.24
1.500                                66      18,723,501      11.52      7.472       357        80.10       656       43.52
2.000                               139      44,657,885      27.48      7.643       357        80.05       656       42.37
3.000                               306      93,318,510      57.42      7.893       356        81.13       662       43.71
5.000                                 2         477,439       0.29      8.188       357        83.29       646       44.81
6.000                                 2         278,686       0.17      7.752       358        80.00       645       46.13
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.547

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score     Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655       41.74
1.000                               155      52,550,308      32.34      7.749       355        80.93       654       42.72
1.500                               356     102,862,031      63.30      7.777       357        80.54       661       43.58
2.000                                 5       2,283,682       1.41      8.006       352        82.51       706       44.97
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
      Months to Next Rate        Mortgage     Principal   Principal   Interest      Term     Original     FICO        DTI
          Adjustment               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     15       4,811,985       2.96      7.474       357        77.31       655       41.74
14                                    4       1,847,998       1.14      7.148       350        80.00       742       45.39
15                                    9       3,143,018       1.93      8.131       351        76.31       645       41.47
16                                    7       2,439,172       1.50      7.939       352        84.70       647       43.75
17                                   16       5,314,715       3.27      7.853       353        84.30       636       43.91
18                                   16       4,944,068       3.04      7.358       354        81.63       625       41.83
19                                   28       9,474,053       5.83      7.584       355        79.43       661       43.93
20                                   75      25,058,768      15.42      7.742       356        81.05       654       42.58
21                                  110      33,830,828      20.82      7.848       357        80.19       659       43.96
22                                  147      43,146,619      26.55      7.816       358        80.83       662       43.33
23                                   12       3,507,000       2.16      7.812       359        82.08       667       42.93
26                                    1         343,599       0.21      7.350       350        79.45       609       43.37
27                                    1         620,450       0.38      8.750       351        80.00       629       47.27
28                                    1          91,129       0.06      9.250       352        80.00       628       45.42
30                                    1         243,000       0.15      8.000       354        90.00       601       23.26
31                                    1         384,000       0.24      8.475       355        94.81       703       46.13
32                                    8       2,383,726       1.47      7.717       356        81.14       666       44.49
33                                   19       5,498,451       3.38      7.609       357        79.39       649       44.09
34                                   49      13,015,038       8.01      7.818       358        80.49       674       42.56
35                                    4         514,550       0.32      6.936       359        78.08       679       46.01
57                                    3         718,000       0.44      8.110       357        84.49       685       45.38
58                                    3       1,056,839       0.65      6.576       358        73.06       672       41.42
59                                    1         121,000       0.07      7.875       359        81.21       651       42.66
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
   Mortgaged Properties            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

California                          238      88,869,828      54.69      7.719       356        80.72       661       43.77
Florida                              81      19,208,898      11.82      7.944       357        80.12       663       42.89
Arizona                              34       7,671,777       4.72      7.985       356        79.87       644       41.56
New York                             17       7,143,948       4.40      7.856       358        82.70       665       41.31
Maryland                             23       6,929,870       4.26      7.617       357        79.65       655       40.03
Nevada                               25       6,428,958       3.96      7.498       357        81.69       661       43.20
Illinois                             18       4,271,021       2.63      7.901       358        79.92       669       45.53
Hawaii                                6       3,164,746       1.95      7.767       356        81.65       666       43.29
Georgia                              10       2,238,317       1.38      8.156       357        82.98       657       40.48
Rhode Island                          8       2,176,550       1.34      7.378       358        82.53       631       40.98
Virginia                              7       1,835,150       1.13      7.728       358        80.54       654       45.48
New Jersey                            6       1,792,809       1.10      7.639       357        70.87       637       42.23
Massachusetts                         5       1,612,750       0.99      8.305       357        84.30       630       49.19
Washington                            8       1,525,967       0.94      7.254       357        80.72       652       44.61
Colorado                              8       1,216,549       0.75      7.980       356        83.21       653       42.09
Other                                37       6,420,867       3.95      7.758       357        78.50       653       43.50
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 34

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
           Occupancy               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Primary                             516     158,921,980      97.79      7.746       357        80.57       658       43.46
Second Home                           8       1,802,826       1.11      8.564       358        83.92       707       40.44
Investment                            7       1,783,200       1.10      8.371       357        79.71       663       28.72
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Property Type             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Single Family Residence             411     123,298,597      75.87      7.756       357        80.40       657       43.40
Condo                                46      13,573,339       8.35      7.741       356        80.62       663       43.05
2-4 Family                           33      13,208,820       8.13      7.972       357        81.45       676       43.25
Planned Unit Development             41      12,427,250       7.65      7.628       356        81.67       655       42.17
---------------------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of         Date         Date        Gross    Remaining   Combined   Average      Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
      Loan Purpose          Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
---------------------------------------------------------------------------------------------------------------------

Purchase                      320      95,071,849      58.50      7.802       356        80.56       670      44.20
Refinance--Cashout            193      62,419,618      38.41      7.728       357        80.75       642      42.18
Refinance--Rate Term           18       5,016,539       3.09      7.430       357        79.48       653      39.20
---------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659      43.27
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of         Date          Date       Gross    Remaining   Combined   Average      Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
   Documentation Level       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score      Ratio
---------------------------------------------------------------------------------------------------------------------

Stated Documentation          296      92,734,579      57.06      8.025       357        80.07       668      43.83
Full Documentation            208      60,521,993      37.24      7.396       357        81.32       646      42.48
Limited Documentation          27       9,251,435       5.69      7.520       356        81.22       650      42.77
---------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659      43.27
---------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of         Date         Date       Gross     Remaining   Combined    Average    Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO       DTI
      Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------

500--524                        1         216,000       0.13      7.500       359        90.00       519      24.25
550--574                        1         249,325       0.15      9.750       351        51.55       553      32.85
575--599                       14       4,104,955       2.53      7.251       356        78.26       586      38.86
600--624                      120      36,833,314      22.67      7.863       356        81.93       613      42.81
625--649                      117      34,552,231      21.26      7.784       357        79.39       637      43.75
650--674                      112      35,014,895      21.55      7.769       357        80.25       661      43.90
675--699                       78      24,286,113      14.94      7.775       357        80.75       685      43.26
700--724                       40      11,756,963       7.23      7.630       357        80.60       711      44.39
725--749                       24       6,839,742       4.21      7.500       357        82.33       735      42.67
750--774                       15       5,052,000       3.11      7.912       357        81.61       763      41.49
775--799                        7       2,978,520       1.83      7.641       356        80.37       782      43.80
800 +                           2         623,948       0.38      7.135       353        80.00       806      44.97
---------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659      43.27
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY & DTI                                        531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of         Date          Date       Gross    Remaining   Combined   Average      Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Prepayment Penalty Term     Loans     Balance ($)    Balance    Rate (%)   (months)      LTV        Score      Ratio
---------------------------------------------------------------------------------------------------------------------

0                             96       31,006,377      19.08      8.141       357        81.13       669      43.54
6                              4        1,146,600       0.71      7.843       358        76.59       695      42.88
12                            42       14,888,521       9.16      7.876       357        80.64       653      42.73
24                           292       89,169,622      54.87      7.664       356        80.78       655      43.25
30                             1          180,000       0.11      8.350       358        80.00       677      47.63
36                            93       25,508,986      15.70      7.598       357        79.83       661      43.28
60                             3          607,900       0.37      6.666       358        66.57       661      44.52
---------------------------------------------------------------------------------------------------------------------
Total:                       531      162,508,006     100.00      7.762       357        80.60       659      43.27
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of         Date          Date       Gross    Remaining   Combined   Average      Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
      Lien Position         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------

1st Lien                      531     162,508,006    100.00       7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006    100.00       7.762       357        80.60       659       43.27
---------------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                              of         Date          Date       Gross    Remaining   Combined   Average      Back
                           Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
   Interest Only Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------

24                              2         431,400       0.27      7.225       358        79.45       606      29.07
36                              3         639,500       0.39      7.938       358        77.28       631      39.93
60                            521     160,349,981      98.67      7.764       357        80.61       659      43.32
120                             5       1,087,125       0.67      7.638       357        81.43       643      41.93
---------------------------------------------------------------------------------------------------------------------
Total:                        531     162,508,006     100.00      7.762       357        80.60       659      43.27
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------
SUMMARY STATISTICS

Number of Mortgage Loans: 531
Aggregate Principal Balance ($): 162,508,006
Weighted Average Current Mortgage Rate (%): 7.762
Non-Zero Weighted Average Margin (%): 6.280
Non-Zero Weighted Average Maximum Rate (%): 14.508
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.60
% First Liens: 100.00
% Owner Occupied: 97.79
% Purchase: 58.50
% Full Doc: 37.24
Non-Zero Weighted Average Credit Score: 659

ORIGINATOR



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date        Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
             Originator                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Accredited                                49      13,082,792       8.05      7.589       358        79.01       671
Chapel                                     6       1,885,075       1.16      7.535       351        80.00       652
Encore                                    37      13,880,070       8.54      7.604       355        78.81       665
First Banc                                19       5,514,935       3.39      7.688       354        80.26       633
First Horizon                             16       5,181,741       3.19      8.844       357        84.22       664
First NLC                                212      61,420,801      37.80      7.898       357        80.40       664
Flex Point                                 3         737,764       0.45      8.152       355        72.49       607
Funding America                            4       1,241,600       0.76      7.255       355        80.00       664
Lenders Direct                             5       1,831,996       1.13      7.821       353        80.12       648
Lime Financial                            12       4,453,000       2.74      7.554       355        80.00       657
Mandalay                                   7       1,907,952       1.17      7.687       354        80.02       673
Master Financial                          32      11,908,630       7.33      7.740       355        83.40       663
New Century                              107      31,578,149      19.43      7.566       358        81.46       651
Quick Loan                                 3         933,500       0.57      7.240       357        77.18       642
Rose Mortgage                             19       6,950,000       4.28      7.702       357        80.03       637
---------------------------------------------------------------------------------------------------------------------
Total:                                   531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM


                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date        Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Product With IO Term            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Interest Only ARM--2 Year/6
Month--24 mo. IO term                      2         431,400       0.27      7.225       358        79.45       606
Interest Only ARM--3 Year/6
Month--36 mo. IO term                      3         639,500       0.39      7.938       358        77.28       631
Interest Only Fixed--30 Year--
60 mo. IO term                            14       4,480,985       2.76      7.527       357        77.12       657
Interest Only ARM--2 Year/6
Month--60 mo. IO term                    421     132,088,152      81.28      7.780       356        80.77       658
Interest Only ARM--3 Year/6
Month--60 mo. IO term                     81      22,362,444      13.76      7.772       357        80.65       666
Interest Only ARM--5 Year/6
Month--60 mo. IO term                      5       1,418,400       0.87      6.921       358        76.10       686
Interest Only Fixed--30 Year--
120 mo. IO term                            1         331,000       0.20      6.750       357        79.95       638
Interest Only ARM--2 Year/6
Month--120 mo. IO term                     1         186,686       0.11      8.000       358        80.00       641
Interest Only ARM--3 Year/6
Month--120 mo. IO term                     1          92,000       0.06      7.250       359        80.00       652
Interest Only ARM--5 Year/6
Month--120 mo. IO term                     2         477,439       0.29      8.188       357        83.29       646
---------------------------------------------------------------------------------------------------------------------
Total:                                   531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date        Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Range of Gross Interest Rates (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                               2         572,938       0.35      5.804       358        65.50       673
6.000--6.999                              85      25,390,729      15.62      6.734       357        78.05       663
7.000--7.999                             265      85,140,149      52.39      7.538       356        80.41       660
8.000--8.999                             137      38,660,074      23.79      8.421       357        81.59       657
9.000--9.999                              39      11,629,803       7.16      9.326       357        84.42       650
10.000--10.999                             3       1,114,313       0.69     10.145       358        86.49       646
---------------------------------------------------------------------------------------------------------------------
Total:                                   531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 10.965
Weighted Average: 7.762

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

50,001--75,000                         1          72,800       0.04      9.590       357        80.00      630
75,001--100,000                       10         878,879       0.54      7.859       357        79.31      627
100,001--125,000                      16       1,804,208       1.11      8.123       357        74.02      660
125,001--150,000                      20       2,755,396       1.70      7.876       356        78.86      658
150,001--175,000                      25       4,068,308       2.50      7.825       357        80.95      672
175,001--200,000                      57      10,629,953       6.54      7.965       357        79.42      663
200,001--225,000                      51      10,935,227       6.73      7.805       357        80.18      650
225,001--250,000                      49      11,602,322       7.14      7.736       357        78.71      648
250,001--275,000                      40      10,544,077       6.49      7.794       357        80.79      663
275,001--300,000                      35      10,052,404       6.19      7.531       357        79.71      645
300,001--325,000                      22       6,868,380       4.23      7.480       357        80.27      667
325,001--350,000                      26       8,802,686       5.42      7.845       356        82.86      657
350,001--375,000                      30      10,848,988       6.68      7.877       357        80.64      663
375,001--400,000                      27      10,507,241       6.47      7.696       357        80.68      673
400,001--425,000                      21       8,648,929       5.32      7.662       356        80.53      660
425,001--450,000                      16       7,033,524       4.33      7.660       356        82.03      640
450,001--475,000                      11       5,076,400       3.12      7.613       357        81.96      670
475,001--500,000                      24      11,743,210       7.23      7.769       356        79.42      659
500,001--750,000                      46      26,225,078      16.14      7.744       356        82.22      659
750,001--1,000,000                     4       3,409,996       2.10      8.239       354        80.16      688
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006     100.00      7.762       357        80.60      659
-----------------------------------------------------------------------------------------------------------------


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

360                                 531     162,508,006     100.00      7.762       357        80.60      659
----------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357        80.60      659
----------------------------------------------------------------------------------------------------------------


Minimum: 360
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

349--360                             531     162,508,006     100.00      7.762       357        80.60      659
----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006     100.00      7.762       357        80.60      659
----------------------------------------------------------------------------------------------------------------


Minimum: 350
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

20.01--25.00                          1         120,000       0.07      7.750       358         22.64     619
35.01--40.00                          3         980,000       0.60      7.540       357         39.09     638
40.01--45.00                          1         220,000       0.14      6.300       358         41.90     711
50.01--55.00                          6       1,302,051       0.80      7.568       356         52.05     617
55.01--60.00                          4         690,000       0.42      6.902       357         57.85     623
60.01--65.00                          7       1,753,635       1.08      6.908       357         64.13     647
65.01--70.00                          8       2,547,235       1.57      7.438       357         69.85     634
70.01--75.00                         13       4,722,659       2.91      7.664       356         72.81     641
75.01--80.00                        381     113,472,926      69.83      7.679       357         79.84     665
80.01--85.00                         39      12,567,069       7.73      7.970       356         84.03     647
85.01--90.00                         47      17,656,309      10.86      8.085       356         89.19     639
90.01--95.00                         20       6,146,122       3.78      8.543       356         94.80     666
95.01--100.00                         1         330,000       0.20      9.300       358        100.00     733
----------------------------------------------------------------------------------------------------------------
Total:                              531     162,508,006     100.00      7.762       357         80.60     659
----------------------------------------------------------------------------------------------------------------


Minimum: 22.64
Maximum: 100.00
Weighted Average: 80.60

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 15       4,811,985       2.96      7.474       357        77.31      655
<= 3.500                          8       1,956,186       1.20      7.151       358        69.47      668
3.501--4.000                      8       2,289,223       1.41      6.944       358        80.27      669
4.001--4.500                     10       3,096,596       1.91      7.505       358        80.60      676
4.501--5.000                     25       7,106,379       4.37      7.814       357        81.29      682
5.001--5.500                     57      20,129,793      12.39      7.585       355        80.46      665
5.501--6.000                     77      23,334,920      14.36      7.638       356        81.66      663
6.001--6.500                    139      43,001,176      26.46      7.533       357        80.79      650
6.501--7.000                     55      16,123,002       9.92      7.704       357        80.04      661
7.001--7.500                    106      30,298,114      18.64      8.113       357        80.79      662
7.501--8.000                     19       5,841,424       3.59      8.675       356        79.42      647
8.001--8.500                     10       3,995,829       2.46      9.066       357        82.32      629
8.501--9.000                      2         523,379       0.32      9.580       357        92.39      629
------------------------------------------------------------------------------------------------------------
Total:                          531     162,508,006     100.00      7.762       357        80.60      659
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.000
Non-Zero Weighted Average: 6.280

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      15       4,811,985       2.96      7.474       357        77.31      655
5.501--6.000                           4       1,294,035       0.80      7.205       354        72.46      646
6.001--6.500                          19       6,204,932       3.82      6.373       357        78.19      674
6.501--7.000                          71      21,585,871      13.28      6.887       356        78.64      655
7.001--7.500                         114      35,085,333      21.59      7.290       356        80.10      658
7.501--8.000                         141      45,497,813      28.00      7.801       357        80.88      663
8.001--8.500                          79      22,676,987      13.95      8.273       357        80.87      663
8.501--9.000                          49      13,537,434       8.33      8.739       357        83.13      649
9.001--9.500                          23       7,512,953       4.62      9.200       357        83.90      659
9.501--10.000                         14       3,577,063       2.20      9.727       357        85.09      638
10.001 -10.500                         1         620,100       0.38     10.100       358        90.00      606
10.501--11.000                         1         103,500       0.06     10.965       358        90.00      675
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006     100.00      7.762       357        80.60      659
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 10.965
Non-Zero Weighted Average: 7.759

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average   Average      Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      15       4,811,985      2.96       7.474       357        77.31      655
<= 12.500                             14       5,475,480      3.37       6.769       356        73.46      655
12.501--13.000                        27       9,368,688      5.77       7.344       356        80.57      661
13.001--13.500                        34      10,506,022      6.46       7.007       356        80.74      661
13.501--14.000                        70      20,030,314     12.33       7.118       356        79.32      654
14.001--14.500                       101      31,259,393     19.24       7.404       357        80.37      660
14.501--15.000                       120      38,407,919     23.63       7.822       356        80.12      663
15.001--15.500                        71      19,711,476     12.13       8.288       357        81.45      666
15.501--16.000                        43      12,039,123      7.41       8.764       357        84.02      648
16.001--16.500                        21       6,846,269      4.21       9.188       356        83.08      660
16.501--17.000                        13       3,327,738      2.05       9.726       357        87.60      644
17.001--17.500                         1         620,100      0.38      10.100       358        90.00      606
17.501--18.000                         1         103,500      0.06      10.965       358        90.00      675
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006    100.00       7.762       357        80.60      659
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.200
Maximum: 17.965
Non-Zero Weighted Average: 14.508

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     15        4,811,985       2.96      7.474       357        77.31       655
1.000                                 1          240,000       0.15      6.850       357        77.42       636
1.500                                66       18,723,501      11.52      7.472       357        80.10       656
2.000                               139       44,657,885      27.48      7.643       357        80.05       656
3.000                               306       93,318,510      57.42      7.893       356        81.13       662
5.000                                 2          477,439       0.29      8.188       357        83.29       646
6.000                                 2          278,686       0.17      7.752       358        80.00       645
-----------------------------------------------------------------------------------------------------------------
Total:                              531      162,508,006     100.00      7.762       357        80.60       659
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.547

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)   (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      15       4,811,985       2.96      7.474       357        77.31       655
1.000                                155      52,550,308      32.34      7.749       355        80.93       654
1.500                                356     102,862,031      63.30      7.777       357        80.54       661
2.000                                  5       2,283,682       1.41      8.006       352        82.51       706
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006     100.00      7.762       357        80.60       659
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     15        4,811,985       2.96      7.474       357        77.31       655
14                                    4        1,847,998       1.14      7.148       350        80.00       742
15                                    9        3,143,018       1.93      8.131       351        76.31       645
16                                    7        2,439,172       1.50      7.939       352        84.70       647
17                                   16        5,314,715       3.27      7.853       353        84.30       636
18                                   16        4,944,068       3.04      7.358       354        81.63       625
19                                   28        9,474,053       5.83      7.584       355        79.43       661
20                                   75       25,058,768      15.42      7.742       356        81.05       654
21                                  110       33,830,828      20.82      7.848       357        80.19       659
22                                  147       43,146,619      26.55      7.816       358        80.83       662
23                                   12        3,507,000       2.16      7.812       359        82.08       667
26                                    1          343,599       0.21      7.350       350        79.45       609
27                                    1          620,450       0.38      8.750       351        80.00       629
28                                    1           91,129       0.06      9.250       352        80.00       628
30                                    1          243,000       0.15      8.000       354        90.00       601
31                                    1          384,000       0.24      8.475       355        94.81       703
32                                    8        2,383,726       1.47      7.717       356        81.14       666
33                                   19        5,498,451       3.38      7.609       357        79.39       649
34                                   49       13,015,038       8.01      7.818       358        80.49       674
35                                    4          514,550       0.32      6.936       359        78.08       679
57                                    3          718,000       0.44      8.110       357        84.49       685
58                                    3        1,056,839       0.65      6.576       358        73.06       672
59                                    1          121,000       0.07      7.875       359        81.21       651
-----------------------------------------------------------------------------------------------------------------
Total:                              531      162,508,006     100.00      7.762       357        80.60       659
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
  Geographic Distribution of      Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Mortgaged Properties          Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

California                           238      88,869,828      54.69      7.719       356        80.72       661
Florida                               81      19,208,898      11.82      7.944       357        80.12       663
Arizona                               34       7,671,777       4.72      7.985       356        79.87       644
New York                              17       7,143,948       4.40      7.856       358        82.70       665
Maryland                              23       6,929,870       4.26      7.617       357        79.65       655
Nevada                                25       6,428,958       3.96      7.498       357        81.69       661
Illinois                              18       4,271,021       2.63      7.901       358        79.92       669
Hawaii                                 6       3,164,746       1.95      7.767       356        81.65       666
Georgia                               10       2,238,317       1.38      8.156       357        82.98       657
Rhode Island                           8       2,176,550       1.34      7.378       358        82.53       631
Virginia                               7       1,835,150       1.13      7.728       358        80.54       654
New Jersey                             6       1,792,809       1.10      7.639       357        70.87       637
Massachusetts                          5       1,612,750       0.99      8.305       357        84.30       630
Washington                             8       1,525,967       0.94      7.254       357        80.72       652
Colorado                               8       1,216,549       0.75      7.980       356        83.21       653
Other                                 37       6,420,867       3.95      7.758       357        78.50       653
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006     100.00      7.762       357        80.60       659
-----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 34

OCCUPANCY



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Occupancy                Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Primary                              516     158,921,980     97.79       7.746        357       80.57       658
Second Home                            8       1,802,826      1.11       8.564        358       83.92       707
Investment                             7       1,783,200      1.10       8.371        357       79.71       663
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006    100.00       7.762        357       80.60       659
-----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted   Weighted    Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
          Property Type            Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Single Family Residence              411     123,298,597     75.87       7.756       357        80.40       657
Condo                                 46      13,573,339      8.35       7.741       356        80.62       663
2-4 Family                            33      13,208,820      8.13       7.972       357        81.45       676
Planned Unit Development              41      12,427,250      7.65       7.628       356        81.67       655
-----------------------------------------------------------------------------------------------------------------
Total:                               531     162,508,006    100.00       7.762       357        80.60       659
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Purchase                  320      95,071,849      58.50      7.802       356        80.56       670
Refinance--Cashout        193      62,419,618      38.41      7.728       357        80.75       642
Refinance--Rate Term       18       5,016,539       3.09      7.430       357        79.48       653
------------------------------------------------------------------------------------------------------
Total:                    531     162,508,006     100.00      7.762       357        80.60       659
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Stated Documentation      296      92,734,579      57.06      8.025       357        80.07       668
Full Documentation        208      60,521,993      37.24      7.396       357        81.32       646
Limited Documentation      27       9,251,435       5.69      7.520       356        81.22       650
------------------------------------------------------------------------------------------------------
Total:                    531     162,508,006     100.00      7.762       357        80.60       659
------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

500--524                    1         216,000       0.13      7.500       359        90.00       519
550--574                    1         249,325       0.15      9.750       351        51.55       553
575--599                   14       4,104,955       2.53      7.251       356        78.26       586
600--624                  120      36,833,314      22.67      7.863       356        81.93       613
625--649                  117      34,552,231      21.26      7.784       357        79.39       637
650--674                  112      35,014,895      21.55      7.769       357        80.25       661
675--699                   78      24,286,113      14.94      7.775       357        80.75       685
700--724                   40      11,756,963       7.23      7.630       357        80.60       711
725--749                   24       6,839,742       4.21      7.500       357        82.33       735
750--774                   15       5,052,000       3.11      7.912       357        81.61       763
775--799                    7       2,978,520       1.83      7.641       356        80.37       782
800 +                       2         623,948       0.38      7.135       353        80.00       806
------------------------------------------------------------------------------------------------------
Total:                    531     162,508,006     100.00      7.762       357        80.60       659
------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INTEREST ONLY                                              531 records
                                                           Balance: $162,508,006
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             96      31,006,377      19.08      8.141       357        81.13       669
6                              4       1,146,600       0.71      7.843       358        76.59       695
12                            42      14,888,521       9.16      7.876       357        80.64       653
24                           292      89,169,622      54.87      7.664       356        80.78       655
30                             1         180,000       0.11      8.350       358        80.00       677
36                            93      25,508,986      15.70      7.598       357        79.83       661
60                             3         607,900       0.37      6.666       358        66.57       661
---------------------------------------------------------------------------------------------------------
Total:                       531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Lien Position          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

1st Lien                     531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------
Total:                       531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

24                             2         431,400       0.27      7.225       358        79.45       606
36                             3         639,500       0.39      7.938       358        77.28       631
60                           521     160,349,981      98.67      7.764       357        80.61       659
120                            5       1,087,125       0.67      7.638       357        81.43       643
---------------------------------------------------------------------------------------------------------
Total:                       531     162,508,006     100.00      7.762       357        80.60       659
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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(c) 2005 Morgan Stanley
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         IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF
                             ASSET-BACKED SECURITIES

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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 294
Aggregate Principal Balance ($): 49,653,254
Weighted Average Current Mortgage Rate (%): 9.026
Non-Zero Weighted Average Margin (%): 6.481
Non-Zero Weighted Average Maximum Rate (%): 15.677
Weighted Average Stated Original Term (months): 359
Weighted Average Stated Remaining Term (months): 356
Weighted Average Combined Original LTV (%): 81.90
% First Liens: 99.93
% Owner Occupied: 0.00
% Purchase: 43.32
% Full Doc: 35.11
Non-Zero Weighted Average Credit Score: 652

ORIGINATOR



                                              % of
                                            Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             40       5,915,738      11.91      9.221        356       79.56       653
Encore                 31       7,234,186      14.57      8.599        356       78.45       644
First Banc              3         348,707       0.70      8.827        340       82.49       667
First Horizon          38       5,323,566      10.72      9.672        358       88.45       656
First NLC             100      15,233,867      30.68      8.722        356       82.87       659
Flex Point              4         962,982       1.94      8.915        356       61.88       622
Funding America         3         375,833       0.76      8.935        355       88.73       724
Lenders Direct          2         310,422       0.63      8.538        355       90.95       667
Lime Financial          3         405,153       0.82      8.662        357       88.76       670
Mandalay                3         376,605       0.76      9.923        353       90.00       660
Master Financial        2         314,945       0.63      7.872        356       78.31       695
Maxim                   1          78,143       0.16     10.150        358       90.00       631
New Century            55       9,681,409      19.50      9.547        358       81.59       637
Quick Loan              1         772,045       1.55      8.350        356       90.00       648
Rose Mortgage           8       2,319,653       4.67      8.618        358       79.36       664
--------------------------------------------------------------------------------------------------
Total:                294      49,653,254     100.00      9.026        356       81.90       652
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                               % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Product with IO term            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                           1          81,574       0.16      8.050        117       62.04       618
Fixed--15 Year                           1          51,302       0.10      8.990        175       80.00       736
Fixed--30 Year                          41       4,949,311       9.97      8.650        357       76.68       640
Balloon--15/30                           1          33,956       0.07     11.500        176       90.00       667
Balloon--30/40                           2         156,885       0.32      9.273        356       76.95       632
ARM--2 Year/6 Month Balloon 30/40       45       9,809,361      19.76      9.294        357       80.11       636
ARM--3 Year/6 Month Balloon 30/40        8       1,306,618       2.63      8.973        357       80.99       665
ARM--2 Year/6 Month                    152      27,541,917      55.47      9.065        357       83.73       656
ARM--3 Year/6 Month                     33       3,456,734       6.96      8.921        357       81.73       657
ARM--5 Year/6 Month                      3         482,397       0.97      8.407        359       82.98       725
Interest Only Fixed--30 Year--60         1         314,000       0.63      6.150        357       78.50       683
mo. IO term
Interest Only ARM--2 Year/6              4         654,450       1.32      9.912        355       77.66       636
Month--60 mo. IO term
Interest Only ARM--3 Year/6              2         814,750       1.64      7.990        358       81.82       677
Month--60 mo. IO term
-------------------------------------------------------------------------------------------------------------------
Total:                                 294      49,653,254     100.00      9.026        356       81.90       652
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                               % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                             4       1,296,746       2.61      6.774       355        82.35       670
7.000--7.999                            45      10,414,295      20.97      7.713       357        75.76       672
8.000--8.999                            88      13,918,464      28.03      8.601       355        81.37       654
9.000--9.999                            96      15,477,373      31.17      9.553       357        84.46       648
10.000--10.999                          46       7,362,635      14.83     10.478       357        85.98       632
11.000--11.999                           7         542,004       1.09     11.289       346        74.34       550
12.000--12.999                           7         594,066       1.20     12.761       358        89.62       642
13.000--13.999                           1          47,671       0.10     13.525       357        90.00       649
-------------------------------------------------------------------------------------------------------------------
Total:                                 294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.150
Maximum: 13.525
Weighted Average: 9.026

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                        15         629,833       1.27     10.157       347        82.36       648
50,001--75,000                        43       2,656,273       5.35      9.878       353        83.15       638
75,001--100,000                       45       3,890,329       7.83      9.174       352        81.30       640
100,001--125,000                      38       4,177,757       8.41      9.277       357        81.89       644
125,001--150,000                      21       2,919,608       5.88      8.972       357        77.58       656
150,001--175,000                      26       4,167,107       8.39      8.953       357        77.95       652
175,001--200,000                      24       4,523,494       9.11      8.919       357        83.06       655
200,001--225,000                      19       3,995,318       8.05      9.232       358        83.06       652
225,001--250,000                      14       3,352,423       6.75      9.300       357        81.56       648
250,001--275,000                       8       2,092,132       4.21      8.818       356        88.70       653
275,001--300,000                       4       1,136,548       2.29      9.002       358        90.01       657
300,001--325,000                       6       1,899,833       3.83      8.593       357        83.90       651
325,001--350,000                       8       2,727,106       5.49      8.611       358        77.79       644
350,001--375,000                       2         723,052       1.46      9.015       356        71.77       691
375,001--400,000                       5       1,938,297       3.90      8.189       357        85.66       681
400,001--425,000                       2         828,884       1.67      7.418       355        77.12       660
425,001--450,000                       1         434,721       0.88     10.090       358        95.00       628
450,001--475,000                       3       1,406,826       2.83      9.475       358        91.68       683
475,001--500,000                       4       1,929,799       3.89      9.462       358        83.70       637
500,001--750,000                       5       3,451,870       6.95      8.611       357        75.43       658
750,001--1,000,000                     1         772,045       1.55      8.350       356        90.00       648
-----------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------------------


Minimum: 33,956
Maximum: 772,045
Average: 168,889

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

120                                    1          81,574       0.16      8.050       117        62.04       618
180                                    2          85,258       0.17      9.990       175        83.98       709
360                                  291      49,486,422      99.66      9.026       357        81.92       652
-----------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 359

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

109--120                               1          81,574       0.16      8.050       117        62.04       618
169--180                               2          85,258       0.17      9.990       175        83.98       709
349--360                             291      49,486,422      99.66      9.026       357        81.92       652
-----------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 359
Weighted Average: 356

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

25.01--30.00                           1         109,872       0.22      8.725       358        25.14       605
30.01--35.00                           1         199,537       0.40      7.340       357        31.75       673
35.01--40.00                           1         139,947       0.28      9.425       358        40.00       617
40.01--45.00                           1         169,662       0.34      9.500       356        40.96       521
45.01--50.00                           7       1,033,956       2.08      8.338       357        48.51       629
50.01--55.00                           7       1,712,616       3.45      8.656       356        52.40       612
55.01--60.00                           2         194,687       0.39      9.211       356        57.02       609
60.01--65.00                           9       1,610,014       3.24      8.916       345        62.60       618
65.01--70.00                          17       2,939,440       5.92      8.450       357        68.83       632
70.01--75.00                          15       2,038,664       4.11      8.969       357        74.60       648
75.01--80.00                          55       9,293,851      18.72      8.897       356        79.82       640
80.01--85.00                          57      10,131,032      20.40      8.719       357        84.61       657
85.01--90.00                          84      12,818,429      25.82      9.353       357        89.79       660
90.01--95.00                          37       7,261,548      14.62      9.528       358        94.83       679
-----------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------------------


Minimum: 25.14
Maximum: 95.00
Weighted Average: 81.90

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Range of Gross Margins (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      47       5,587,028      11.25      8.539       351        76.68       643
4.001--4.500                           1          75,494       0.15      7.820       358        84.00       629
4.501--5.000                           3         730,234       1.47      7.797       358        83.87       680
5.001--5.500                          29       6,353,810      12.80      8.434       356        78.90       653
5.501--6.000                          50       8,455,328      17.03      9.131       357        85.24       665
6.001--6.500                          61      10,078,126      20.30      9.625       358        85.12       650
6.501--7.000                          28       6,802,736      13.70      8.807       357        75.03       641
7.001--7.500                          57       7,607,977      15.32      8.918       357        84.11       660
7.501--8.000                          10       2,543,037       5.12      9.636       357        83.53       637
8.001--8.500                           3         442,920       0.89      9.894       357        89.94       634
8.501--9.000                           3         856,609       1.73      9.617       358        91.37       649
9.001--9.500                           1          63,982       0.13     12.125       359        80.00       548
9.501--10.000                          1          55,974       0.11     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.320
Maximum: 9.999
Non-Zero Weighted Average: 6.481

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      47       5,587,028      11.25      8.539       351        76.68       643
6.501--7.000                           1         409,464       0.82      6.950       352        85.00       651
7.001--7.500                           9       2,238,830       4.51      7.378       357        72.76       684
7.501--8.000                          33       7,590,927      15.29      7.872       357        76.42       668
8.001--8.500                          22       4,167,607       8.39      8.321       357        85.52       662
8.501--9.000                          47       7,547,127      15.20      8.806       357        83.14       654
9.001--9.500                          42       7,729,724      15.57      9.328       357        86.10       658
9.501--10.000                         40       6,334,616      12.76      9.811       357        82.21       639
10.001 -10.500                        25       4,513,154       9.09     10.303       357        84.30       623
10.501--11.000                        18       2,623,834       5.28     10.789       358        88.91       650
11.001--11.500                         2         240,423       0.48     11.080       358        71.79       538
11.501--12.000                         1          76,455       0.15     11.875       358        75.00       546
12.001--12.500                         1          63,982       0.13     12.125       359        80.00       548
12.501--13.000                         6         530,084       1.07     12.838       358        90.78       654
-----------------------------------------------------------------------------------------------------------------
Total:                               294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.950
Maximum: 12.999
Non-Zero Weighted Average: 9.088

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
 Range of Maximum    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Mortgage Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans        47        5,587,028      11.25      8.539       351        76.68       643
<= 12.500                4        1,747,956       3.52      7.310       355        77.82       661
12.501--13.000           5        1,103,556       2.22      7.899       356        79.24       663
13.001--13.500           2          476,563       0.96      8.318       357        90.00       598
13.501--14.000           9        2,151,995       4.33      8.160       358        73.76       656
14.001--14.500          12        2,492,791       5.02      8.155       357        81.03       683
14.501--15.000          28        6,288,947      12.67      8.203       357        76.26       661
15.001--15.500          24        4,654,033       9.37      9.005       357        81.34       657
15.501--16.000          46        7,142,184      14.38      8.908       357        83.32       657
16.001--16.500          37        6,580,492      13.25      9.383       357        87.41       660
16.501--17.000          34        4,906,653       9.88      9.817       358        85.20       639
17.001--17.500          20        3,106,943       6.26     10.273       358        85.44       615
17.501--18.000          17        2,553,281       5.14     10.826       358        88.90       651
18.001--18.500           2          240,423       0.48     11.080       358        71.79       538
18.501--19.000           1           76,455       0.15     11.875       358        75.00       546
19.001--19.500           1           63,982       0.13     12.125       359        80.00       548
19.501--20.000           5          479,972       0.97     12.870       358        91.39       666
----------------------------------------------------------------------------------------------------
Total:                 294       49,653,254     100.00      9.026       356        81.90       652
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.950
Maximum: 19.999
Non-Zero Weighted Average: 15.677

INITIAL PERIODIC CAP (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
Initial Periodic     Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Cap (%)          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans        47        5,587,028      11.25      8.539       351        76.68       643
1.000                    1          195,830       0.39     10.100       358        80.00       648
1.500                   45        6,949,053      14.00      9.303       357        79.79       649
2.000                   70       14,616,959      29.44      9.128       357        79.80       640
3.000                  131       22,304,385      44.92      8.986       357        85.25       662
----------------------------------------------------------------------------------------------------
Total:                 294       49,653,254     100.00      9.026       356        81.90       652
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 3.000
Non-Zero Weighted Average: 2.423

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                  % of
                                                Mortgage
                                                Pool by
                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                         of         Date          Date       Gross    Remaining   Combined   Average
Subsequent Periodic   Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Cap (%)            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------

Fixed Rate Loans          47       5,587,028      11.25      8.539       351        76.68       643
1.000                     79      16,422,785      33.07      8.965       357        83.18       656
1.500                    167      27,508,838      55.40      9.168       358        82.33       651
2.000                      1         134,603       0.27      7.600       356        51.92       637
-----------------------------------------------------------------------------------------------------
Total:                   294      49,653,254     100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.315

MONTHS TO NEXT RATE ADJUSTMENT



                                                  % of
                                                Mortgage
                                                Pool by
                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                         of         Date          Date      Gross     Remaining   Combined   Average
Months to Next rate   Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Adjustment        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------

Fixed Rate Loans          47      5,587,028       11.25      8.539       351        76.68       643
15                         2        329,088        0.66      9.566       351        56.68       579
16                         3        802,291        1.62      8.574       352        85.67       636
17                         1         74,738        0.15      9.550       353        56.82       565
18                         3        371,207        0.75      9.214       354        82.34       696
19                         6        946,811        1.91      8.638       355        80.57       645
20                        32      6,739,580       13.57      8.902       356        81.20       645
21                        55     10,017,131       20.17      8.896       357        80.12       649
22                        89     16,687,460       33.61      9.405       358        84.95       654
23                        10      2,037,421        4.10      9.297       359        86.89       663
28                         1        190,785        0.38      7.875       352        85.00       649
30                         1        116,584        0.23      8.690       354        90.00       646
31                         1         70,398        0.14     10.200       355        85.00       585
32                         1        101,805        0.21      9.690       356        85.00       640
33                        10      1,053,501        2.12      8.564       357        82.02       691
34                        29      4,045,030        8.15      8.857       358        80.90       657
58                         1        194,413        0.39      7.900       358        80.00       724
59                         2        287,984        0.58      8.750       359        85.00       725
-----------------------------------------------------------------------------------------------------
Total:                   294     49,653,254      100.00      9.026       356        81.90       652
-----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 15
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
 Geographic Distribution   Mortgage    Principal    Principal   Interest      Term     Original     FICO
 of Mortgaged Properties    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

California                     52      16,204,407      32.64      8.849       356        79.67       649
Florida                        50       8,476,637      17.07      9.080       357        84.60       656
Illinois                       30       4,588,552       9.24      8.950       357        80.51       640
New York                        6       1,900,320       3.83      8.909       358        78.75       669
Texas                          17       1,485,591       2.99      9.255       344        81.49       631
Tennessee                      11       1,244,179       2.51      9.268       350        84.95       692
Georgia                        11       1,156,028       2.33      9.002       357        87.97       681
Michigan                       14       1,100,981       2.22      9.557       357        84.25       616
Pennsylvania                   11       1,041,000       2.10      9.236       356        81.37       627
Maryland                        7       1,032,036       2.08      8.287       357        79.12       663
Virginia                        6         867,723       1.75      9.059       357        81.08       639
Missouri                       10         823,317       1.66      9.540       357        85.06       655
Colorado                        5         820,685       1.65      8.812       358        87.41       700
Ohio                            8         756,295       1.52     10.925       357        87.40       637
Idaho                           5         738,117       1.49     10.087       358        87.00       653
Other                          51       7,417,387      14.94      9.004       357        82.14       653
----------------------------------------------------------------------------------------------------------
Total:                        294      49,653,254     100.00      9.026       356        81.90       652
----------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 37

OCCUPANCY



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date          Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Occupancy           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Investment                   294       49,653,254     100.00      9.026       356        81.90       652
----------------------------------------------------------------------------------------------------------
Total:                       294       49,653,254     100.00      9.026       356        81.90       652
----------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      200       29,717,044      59.85      9.113       356        83.91       655
2-4 Family                    68       15,351,403      30.92      8.794       357        78.84       649
Condo                         19        3,347,282       6.74      9.330       358        82.81       642
Planned Unit Development       7        1,237,525       2.49      8.988       357        68.85       627
----------------------------------------------------------------------------------------------------------
Total:                       294       49,653,254     100.00      9.026       356        81.90       652
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Refinance--Cashout         150      25,553,934      51.46      8.844       356        76.77       642
Purchase                   131      21,511,917      43.32      9.313       357        88.60       661
Refinance--Rate Term        13       2,587,403       5.21      8.431       357        76.73       674
-------------------------------------------------------------------------------------------------------
Total:                     294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation       158      28,121,069      56.63      9.380       357        82.12       654
Full Documentation         113      17,433,550      35.11      8.610       357        81.12       647
Limited Documentation       23       4,098,635       8.25      8.363       352        83.67       656
-------------------------------------------------------------------------------------------------------
Total:                     294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Credit Score          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

500--524                     6         729,032       1.47     10.552       356        68.40       518
525--549                     9         878,115       1.77     10.343       357        67.98       541
550--574                    10       1,346,557       2.71      9.286       356        63.00       566
575--599                    24       4,190,917       8.44      9.139       357        76.95       589
600--624                    43       6,707,615      13.51      9.270       354        78.22       611
625--649                    64      11,748,854      23.66      9.429       357        85.17       638
650--674                    52       7,851,372      15.81      8.594       356        82.61       663
675--699                    39       8,354,760      16.83      8.542       357        82.52       686
700--724                    15       2,857,303       5.75      8.891       358        89.64       711
725--749                    20       3,414,763       6.88      8.656       355        85.34       738
750--774                    10       1,424,708       2.87      8.702       357        87.91       755
775--799                     2         149,257       0.30      9.650       358        90.00       792
-------------------------------------------------------------------------------------------------------
Total:                     294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 796
Non-Zero Weighted Average: 652

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET INVESTMENT                                                 294 records
                                                            Balance: $49,653,254
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
     Prepayment         Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Penalty Term          Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------

0                           92      14,199,733      28.60      9.375       356        84.11       655
12                          16       4,080,698       8.22      8.773       357        82.40       665
24                         117      22,062,143      44.43      9.031       357        81.23       646
36                          62       8,345,259      16.81      8.485       357        80.88       662
60                           7         965,420       1.94      9.534       348        71.31       607
-------------------------------------------------------------------------------------------------------
Total:                     294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                                    % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
        Lien            Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Position            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

1st Lien                   293      49,619,298      99.93      9.024       357        81.89       652
2nd Lien                     1          33,956       0.07     11.500       176        90.00       667
-------------------------------------------------------------------------------------------------------
Total:                     294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Interest Only Term       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------

0                          287      47,870,054      96.41      9.050       356        81.98       651
60                           7       1,783,200       3.59      8.371       357        79.71       663
-------------------------------------------------------------------------------------------------------
Total:                     294      49,653,254     100.00      9.026       356        81.90       652
-------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 588
Aggregate Principal Balance ($): 137,056,286
Weighted Average Current Mortgage Rate (%): 8.259
Non-Zero Weighted Average Margin (%): 6.208
Non-Zero Weighted Average Maximum Rate (%): 15.248
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 358
Weighted Average Combined Original LTV (%): 80.03
% First Liens: 99.53
% Owner Occupied: 87.24
% Purchase: 48.13
% Full Doc: 50.74
Non-Zero Weighted Average Credit Score: 631

ORIGINATOR



                                             % of
                                           Mortgage
                                           Pool by
                            Aggregate     Aggregate   Weighted   Weighted    Weighted
               Number        Cut-off       Cut-off    Average    Average      Average    Weighted
                 of           Date           Date      Gross     Remaining    Combined   Average
              Mortgage      Principal     Principal   Interest     Term      Original     FICO
Originator     Loans       Balance ($)     Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------

New Century      588       137,056,286      100.00      8.259       358         80.03       631
-------------------------------------------------------------------------------------------------
Total:           588       137,056,286      100.00      8.259       358         80.03       631
-------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                                   % of
                                                                 Mortgage
                                                                  Pool by
                                                 Aggregate      Aggregate   Weighted    Weighted    Weighted
                                     Number       Cut-off         Cut-off    Average     Average     Average    Weighted
                                       of          Date            Date       Gross     Remaining    Combined    Average
                                    Mortgage     Principal      Principal    Interest     Term      Original      FICO
   PRODUCT WITH IO TERM              Loans       Balance ($)     Balance     Rate (%)   (months)      LTV        Score
------------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           1            20,684        0.02       9.800       174        100.00       684
Fixed--30 Year                          18         1,886,625        1.38       8.827       355         77.80       636
Balloon--30/40                           3           789,588        0.58       7.432       355         81.14       703
ARM--2 Year/6 Month Balloon 30/40      237        63,852,102       46.59       8.377       358         79.59       622
ARM--3 Year/6 Month Balloon 30/40       19         3,365,738        2.46       8.869       358         79.60       621
ARM--2 Year/6 Month                    196        33,866,940       24.71       8.619       358         79.70       629
ARM--3 Year/6 Month                      7         1,696,459        1.24       8.028       357         79.05       614
Interest Only ARM--2 Year/6
Month--24 mo. IO term                    1           221,000        0.16       6.250       358         78.93       585
Interest Only ARM--3 Year/6
Month--36 mo. IO term                    1           228,000        0.17       7.475       358         80.00       666
Interest Only ARM--2 Year/6
Month--60 mo. IO term                   94        28,454,261       20.76       7.568       358         81.73       652
Interest Only ARM--3 Year/6
Month--60 mo. IO term                   11         2,674,888        1.95       7.659       358         78.94       650
---------------------------------------------------------------------------- -------------------------------------------
Total:                                 588       137,056,286      100.00       8.259       358         80.03       631
------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                              % of
                                                             Mortgage
                                                             Pool by
                                                Aggregate    Aggregate   Weighted    Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average     Average     Average    Weighted
                                       of         Date         Date        Gross     Remaining    Combined    Average
                                    Mortgage    Principal    Principal    Interest     Term      Original      FICO
RANGE OF GROSS INTEREST RATES (%)    Loans     Balance ($)   Balance     Rate (%)    (months)       LTV       Score
---------------------------------------------------------------------------------------------------------------------

5.000--5.999                             1         266,038       0.19       5.925        358        80.00       707
6.000--6.999                            54      14,200,426      10.36       6.621        357        76.02       646
7.000--7.999                           195      52,426,152      38.25       7.612        358        79.76       644
8.000--8.999                           171      38,757,484      28.28       8.496        358        81.06       626
9.000--9.999                           103      22,776,662      16.62       9.488        358        81.63       621
10.000--10.999                          48       6,782,315       4.95      10.422        358        80.57       580
11.000--11.999                          14       1,599,616       1.17      11.298        357        71.04       551
12.000--12.999                           2         247,594       0.18      12.326        354       100.00       639
---------------------------------------------------------------------------------------------------------------------
Total:                                 588     137,056,286     100.00       8.259        358        80.03       631
---------------------------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 12.400
Weighted Average: 8.259

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                             Mortgage
                                                             Pool by
                                                Aggregate    Aggregate   Weighted    Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average     Average     Average    Weighted
                                       of         Date         Date        Gross     Remaining    Combined    Average
RANGE OF CUT-OFF DATE PRINCIPAL     Mortgage    Principal    Principal    Interest     Term      Original      FICO
          BALANCES ($)               Loans     Balance ($)    Balance     Rate(%)     (months)       LTV       Score
---------------------------------------------------------------------------------------------------------------------

1--25,000                                2          43,128       0.03     10.346        268        100.00       663
25,001--50,000                           4         149,023       0.11     10.936        354         93.30       596
50,001--75,000                          42       2,590,185       1.89      9.360        357         79.66       610
75,001--100,000                         44       3,867,857       2.82      8.721        358         77.00       613
100,001--125,000                        65       7,375,179       5.38      8.699        358         76.12       617
125,001--150,000                        52       7,134,606       5.21      8.797        358         75.33       602
150,001--175,000                        45       7,207,102       5.26      8.741        357         77.80       611
175,001--200,000                        48       9,065,515       6.61      8.523        358         79.40       619
200,001--225,000                        42       9,017,457       6.58      7.991        358         79.61       638
225,001--250,000                        30       7,119,530       5.19      7.990        358         80.53       640
250,001--275,000                        38      10,054,674       7.34      7.988        358         80.08       626
275,001--300,000                        34       9,729,258       7.10      8.107        358         81.60       637
300,001--325,000                        20       6,299,668       4.60      7.892        357         78.47       628
325,001--350,000                        17       5,709,161       4.17      8.834        358         80.88       622
350,001--375,000                        14       5,009,991       3.66      7.819        358         81.36       676
375,001--400,000                        21       8,179,781       5.97      7.924        358         81.36       636
400,001--425,000                         7       2,862,557       2.09      7.862        358         83.07       649
425,001--450,000                        11       4,841,078       3.53      8.010        358         82.20       618
450,001--475,000                         7       3,241,370       2.36      8.249        358         85.77       668
475,001--500,000                         9       4,425,553       3.23      8.209        357         83.49       639
500,001--750,000                        32      19,741,361      14.40      8.030        357         80.59       639
750,001--1,000,000                       4       3,392,252       2.48      8.694        358         80.51       649
---------------------------------------------------------------------------------------------------------------------
Total:                                 588     137,056,286     100.00      8.259        358         80.03       631
---------------------------------------------------------------------------------------------------------------------


Minimum: 20,684
Maximum: 988,617
Average: 233,089

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

180                                  1          20,684       0.02      9.800       174       100.00       684
360                                587     137,035,602      99.98      8.258       358        80.03       631
---------------------------------------------------------------------------------------------------------------
Total:                             588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                               1          20,684       0.02      9.800       174        100.00      684
349--360                             587     137,035,602      99.98      8.258       358         80.03      631
-----------------------------------------------------------------------------------------------------------------
Total:                               588     137,056,286     100.00      8.259       358         80.03      631
-----------------------------------------------------------------------------------------------------------------


Minimum: 174
Maximum: 359
Weighted Average: 358

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

10.01--15.00                          1         149,735       0.11      6.625       358        14.63       668
20.01--25.00                          1         120,000       0.09      7.750       358        22.64       619
25.01--30.00                          1         109,872       0.08      8.725       358        25.14       605
30.01--35.00                          1         121,708       0.09     11.125       359        34.79       511
35.01--40.00                          3         421,696       0.31      8.998       357        39.26       592
40.01--45.00                          6         786,642       0.57      7.679       357        42.29       583
45.01--50.00                          7         972,270       0.71      8.152       357        47.79       597
50.01--55.00                          7       1,740,239       1.27      8.206       357        52.13       583
55.01--60.00                         13       2,352,087       1.72      8.335       358        58.35       570
60.01--65.00                         18       3,191,331       2.33      8.088       357        63.12       595
65.01--70.00                         28       5,538,373       4.04      9.057       357        68.99       566
70.01--75.00                         37       8,274,399       6.04      8.494       358        73.74       573
75.01--80.00                        306      76,851,194      56.07      8.050       358        79.87       643
80.01--85.00                         29       6,146,074       4.48      7.952       358        84.44       629
85.01--90.00                         71      18,024,038      13.15      8.489       358        89.62       641
90.01--95.00                         49      11,615,666       8.48      8.770       358        94.89       650
95.01--100.00                        10         640,962       0.47     11.498       348       100.00       660
----------------------------------------------------------------------------------------------------------------
Total:                              588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.03

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 22       2,696,898       1.97      8.426        353       78.95       656
5.001--5.500                      1         284,357       0.21      8.900        356       89.62       645
5.501--6.000                    108      26,813,483      19.56      8.152        358       80.48       636
6.001--6.500                    390      94,408,926      68.88      8.123        358       81.00       637
6.501--7.000                     36       7,689,099       5.61      9.169        358       73.67       582
7.001--7.500                     28       4,211,763       3.07      9.856        358       65.98       544
7.501--8.000                      2         519,510       0.38      9.676        358       76.07       529
8.501--9.000                      1         432,250       0.32      9.650        358       95.00       629
------------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259        358       80.03       631
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.400
Maximum: 8.700
Non-Zero Weighted Average: 6.208

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                  % of
                                                               Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Minimum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          22       2,696,898       1.97      8.426       353        78.95       656
5.501--6.000                               1         266,038       0.19      5.925       358        80.00       707
6.001--6.500                              20       5,552,632       4.05      6.473       358        79.07       650
6.501--7.000                              36       8,755,658       6.39      6.806       357        75.48       638
7.001--7.500                              65      17,237,495      12.58      7.300       357        80.35       649
7.501--8.000                             129      35,070,330      25.59      7.797       358        79.63       639
8.001--8.500                              79      18,884,803      13.78      8.278       358        81.17       642
8.501--9.000                              85      18,473,608      13.48      8.771       358        80.89       612
9.001--9.500                              48      12,360,912       9.02      9.279       358        81.82       636
9.501--10.000                             50      10,174,912       7.42      9.771       358        81.01       598
10.001 -10.500                            24       3,807,127       2.78     10.253       358        78.67       572
10.501--11.000                            19       2,428,556       1.77     10.749       358        84.49       603
11.001--11.500                             9       1,281,839       0.94     11.241       357        65.16       537
11.501--12.000                             1          65,480       0.05     11.625       359        79.88       520
---------------------------------------------------------------------------------------------------------------------
Total:                                   588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.925
Maximum: 11.625
Non-Zero Weighted Average: 8.249

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                               Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          22       2,696,898      1.97       8.426       353        78.95       656
12.501--13.000                             2         506,038      0.37       6.364       358        78.78       673
13.001--13.500                            17       5,259,478      3.84       6.353       358        79.02       652
13.501--14.000                            36       8,793,276      6.42       6.840       357        75.87       638
14.001--14.500                            65      17,441,994     12.73       7.299       357        80.59       649
14.501--15.000                           128      34,792,712     25.39       7.796       358        79.55       639
15.001--15.500                            79      18,772,250     13.70       8.279       358        80.97       642
15.501--16.000                            86      18,559,115     13.54       8.772       358        80.89       612
16.001--16.500                            49      12,556,742      9.16       9.291       358        81.79       637
16.501--17.000                            51      10,230,777      7.46       9.770       358        81.01       598
17.001--17.500                            23       3,611,298      2.63      10.261       358        78.59       568
17.501--18.000                            20       2,488,392      1.82      10.748       358        84.26       601
18.001--18.500                             9       1,281,839      0.94      11.241       357        65.16       537
18.501--19.000                             1          65,480      0.05      11.625       359        79.88       520
---------------------------------------------------------------------------------------------------------------------
Total:                                   588     137,056,286    100.00       8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12.850
Maximum: 18.625
Non-Zero Weighted Average: 15.248

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

INITIAL PERIODIC CAP (%)



                                                      % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted   Weighted    Weighted
                             Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date        Date        Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest     Term      Original      FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               22       2,696,898       1.97      8.426       353        78.95       656
1.000                           4         977,783       0.71      8.117       357        86.17       632
1.500                         130      29,668,287      21.65      8.342       356        79.87       622
2.000                         432     103,713,319      75.67      8.232       358        80.04       633
----------------------------------------------------------------------------------------------------------
Total:                        588     137,056,286     100.00      8.259       358        80.03       631
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.882

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                                Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date        Date       Gross     Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  22       2,696,898       1.97      8.426       353        78.95       656
1.000                              4         977,783       0.71      8.117       357        86.17       632
1.500                            562     133,381,606      97.32      8.256       358        80.00       631
-------------------------------------------------------------------------------------------------------------
Total:                           588     137,056,286     100.00      8.259       358        80.03       631
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.496

MONTHS TO NEXT RATE ADJUSTMENT



                                                            % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average   Average     Average   Weighted
                                    of          Date         Date       Gross   Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest    Term      Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)   (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     22       2,696,898       1.97      8.426      353        78.95       656
17                                    6       1,177,684       0.86      7.725      353        79.75       625
18                                    9       2,218,699       1.62      7.836      354        76.08       623
19                                   31       8,296,008       6.05      8.075      355        76.85       619
20                                   15       2,330,415       1.70      8.520      356        86.29       617
21                                   44      12,095,779       8.83      8.538      357        78.88       631
22                                  330      81,033,468      59.12      8.225      358        80.32       635
23                                   93      19,242,250      14.04      8.336      359        81.06       621
30                                    1         190,969       0.14      8.600      354        85.00       582
31                                    2         678,062       0.49      8.563      355        88.94       587
34                                   33       6,886,797       5.02      8.232      358        78.33       637
35                                    2         209,257       0.15      7.273      359        73.71       606
---------------------------------------------------------------------------------------------------------------
Total:                              588     137,056,286     100.00      8.259      358        80.03       631
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 17
Maximum: 35
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted   Weighted   Weighted
                              Number      Cut-off       Cut-off   Average     Average    Average   Weighted
                                of          Date         Date       Gross    Remaining  Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term    Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)   (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------

California                      151      53,013,198      38.68      8.046       358       79.25       643
Florida                          69      14,880,067      10.86      8.447       358       79.62       619
Massachusetts                    25       5,847,510       4.27      8.291       357       82.31       621
Nevada                           20       4,537,044       3.31      7.714       358       79.65       634
New Jersey                       15       4,527,746       3.30      8.686       358       80.37       603
Hawaii                           11       4,358,622       3.18      8.279       358       79.66       673
Texas                            37       4,258,869       3.11      8.707       357       79.83       625
Illinois                         22       4,166,225       3.04      8.555       358       84.78       630
Maryland                         13       3,293,696       2.40      8.101       358       80.79       590
Arizona                          16       3,173,236       2.32      8.413       357       76.56       606
New York                         12       3,156,612       2.30      7.634       357       77.56       660
Pennsylvania                     18       2,901,693       2.12      7.908       358       81.75       657
Virginia                         14       2,863,687       2.09      8.232       358       80.95       617
Georgia                          16       2,711,819       1.98      8.565       357       82.45       625
Oregon                           13       2,345,175       1.71      8.046       358       76.93       616
Other                           136      21,021,086      15.34      8.655       358       81.27       618
-----------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259       358       80.03       631
-----------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 47

OCCUPANCY



                                         % of
                                       Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted   Weighted    Weighted
                Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date      Gross     Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------

Primary          504     119,563,235      87.24      8.121       358        79.76       629
Investment        55       9,681,409       7.06      9.547       358        81.59       637
Second Home       29       7,811,641       5.70      8.767       357        82.17       658
---------------------------------------------------------------------------------------------
Total:           588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted   Weighted  Weighted
                               Number     Cut-off      Cut-off     Average    Average   Average   Weighted
                                of         Date          Date       Gross    Remaining  Combined    Average
                             Mortgage    Principal    Principal   Interest       Term  Original       FICO
      Property Type            Loans    Balance ($)    Balance    Rate (%)   (months)       LTV      Score
------------------------------------------------------------------------------------------------------------

Single Family Residence         443      97,095,126      70.84      8.255       358      79.79         626
Planned Unit Development         64      17,352,738      12.66      8.186       358      80.63         641
Condo                            51      14,241,761      10.39      8.277       358      81.13         656
2-4 Family                       30       8,366,661       6.10      8.422       357      79.62         630
------------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259       358      80.03         631
------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                        % of
                                                      Mortgage
                                                      Pool by
                                         Aggregate    Aggregate   Weighted   Weighted    Weighted
                              Number       Cut-off     Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Loan Purpose          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Purchase                        272      65,970,544      48.13      8.098       358      81.60         659
Refinance--Cashout              284      64,084,321      46.76      8.429       358      78.61         603
Refinance--Rate Term             32       7,001,421       5.11      8.205       358      78.16         628
------------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259       358      80.03         631
------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted   Weighted    Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Documentation Level        Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
------------------------------------------------------------------------------------------------------------

Full Documentation              327      69,548,585      50.74      7.906       358        79.98      617
Stated Documentation            255      65,895,089      48.08      8.640       358        80.04      646
Limited Documentation             6       1,612,612       1.18      7.873       358        81.52      603
------------------------------------------------------------------------------------------------------------
Total:                          588     137,056,286     100.00      8.259       358        80.03      631
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

CREDIT SCORE



                                                          % of
                                                        Mortgage
                                                         Pool by
                                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                  of         Date          Date       Gross    Remaining   Combined   Average
                               Mortgage    Principal    Principal   Interest     Term      Original     FICO
       Credit Score             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------

500--524                           42       6,417,713       4.68      9.825       358        71.21       512
525--549                           40       7,156,714       5.22      9.011       358        70.36       536
550--574                           27       7,319,419       5.34      8.710       358        74.24       561
575--599                           54      10,352,864       7.55      8.395       357        74.22       588
600--624                          144      34,164,247      24.93      8.060       357        81.80       612
625--649                          107      27,252,954      19.88      8.138       358        83.47       636
650--674                           65      16,839,539      12.29      7.974       358        81.76       659
675--699                           41      10,199,744       7.44      8.122       357        81.01       687
700--724                           26       6,212,335       4.53      7.940       358        82.24       712
725--749                           22       5,901,610       4.31      8.333       358        81.94       735
750--774                           10       2,867,626       2.09      8.028       358        83.21       765
775--799                            9       2,252,762       1.64      7.546       358        79.85       786
800 +                               1         118,759       0.09      7.375       359        90.00       814
--------------------------------------------------------------------------------------------------------------
Total:                            588     137,056,286     100.00      8.259       358        80.03       631
--------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 631

PREPAYMENT PENALTY TERM



                                                          % of
                                                        Mortgage
                                                         Pool by
                                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                  of         Date          Date       Gross    Remaining   Combined   Average
                               Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Prepayment Penalty Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------

0                                 160      39,819,205      29.05      8.695       358        81.67       636
12                                 22       5,069,011       3.70      8.227       358        80.03       657
24                                373      85,804,593      62.61      8.073       358        79.46       627
36                                 33       6,363,478       4.64      8.051       357        77.48       634
---------------------------------------------------------------------------------------------------------------
Total:                            588     137,056,286     100.00      8.259       358        80.03       631
---------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 24

LIEN POSITION



                                                          % of
                                                        Mortgage
                                                         Pool by
                                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                  of         Date          Date       Gross    Remaining   Combined   Average
          Lien                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Position                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------

1st Lien                          578     136,415,324      99.53      8.243        358       79.93       631
2nd Lien                           10         640,962       0.47     11.498        348      100.00       660
--------------------------------------------------------------------------------------------------------------
Total:                            588     137,056,286     100.00      8.259        358       80.03       631
--------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NEW CENTURY                                                588 records
                                                           Balance: $137,056,286
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                          % of
                                                        Mortgage
                                                         Pool by
                                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                  of         Date          Date       Gross    Remaining   Combined   Average
                               Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Interest Only Term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------

0                                 481     105,478,137      76.96      8.466       358        79.60       625
24                                  1         221,000       0.16      6.250       358        78.93       585
36                                  1         228,000       0.17      7.475       358        80.00       666
60                                105      31,129,149      22.71      7.576       358        81.49       652
--------------------------------------------------------------------------------------------------------------
Total:                            588     137,056,286     100.00      8.259       358        80.03       631
--------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,199
Aggregate Principal Balance ($): 216,979,403
Weighted Average Current Mortgage Rate (%): 8.805
Non-Zero Weighted Average Margin (%): 6.198
Non-Zero Weighted Average Maximum Rate (%): 15.408
Weighted Average Stated Original Term (months): 354
Weighted Average Stated Remaining Term (months): 351
Weighted Average Combined Original LTV (%): 80.89
% First Liens: 96.42
% Owner Occupied: 91.12
% Purchase: 36.44
% Full Doc: 42.88
Non-Zero Weighted Average Credit Score: 624

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                      of         Date          Date      Gross     Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             159     27,556,142      12.70      8.770       355        77.71       611
Encore                 102     25,818,821      11.90      8.497       355        78.72       632
First Banc               6        499,123       0.23      8.863       276        82.03       592
First Horizon           63     11,567,679       5.33      9.449       356        85.62       639
First NLC              577     86,816,955      40.01      8.755       348        81.68       619
Flex Point               7      1,697,178       0.78      9.289       357        78.26       604
Funding America         11        588,680       0.27     10.703       355        94.25       619
Lenders Direct           8        462,434       0.21     10.242       286        84.59       622
Lime Financial          30      7,240,176       3.34      8.892       337        85.85       635
Mandalay                 1         62,441       0.03     11.500       173       100.00       650
Master Financial        18      3,603,705       1.66      9.088       342        82.66       642
Maxim                    6        627,997       0.29      9.832       312        87.83       621
New Century            160     39,819,205      18.35      8.695       358        81.67       636
Quick Loan               1        324,340       0.15      7.990       357        25.00       514
Rose Mortgage           50     10,294,526       4.74      9.315       356        76.47       606
--------------------------------------------------------------------------------------------------
Total:               1,199    216,979,403     100.00      8.805       351        80.89       624
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed--10 Year                            5        351,912       0.16      8.258       117        70.62       637
Fixed--15 Year                           14        922,094       0.42      9.201       177        81.19       620
Fixed--20 Year                           14        949,118       0.44      8.662       237        81.68       641
Fixed--30 Year                          199     20,936,889       9.65      9.111       357        81.95       617
Balloon--15/30                           82      4,695,242       2.16     11.592       176        99.05       653
Balloon--30/40                            9      1,949,004       0.90      8.454       357        83.07       614
ARM--2 Year/6 Month Balloon 30/40       191     51,431,628      23.70      8.635       357        81.64       631
ARM--3 Year/6 Month Balloon 30/40        52      9,900,528       4.56      8.797       358        80.66       598
ARM--1 Year/6 Month                       1        274,325       0.13      7.500       352        80.00       596
ARM--2 Year/6 Month                     362     67,259,925      31.00      8.933       357        79.26       614
ARM--3 Year/6 Month                     170     26,347,116      12.14      8.885       357        79.40       591
ARM--5 Year/6 Month                       4        955,242       0.44      8.927       355        77.73       578
Interest Only Fixed--30 Year--60
   mo. IO term                            2        849,000       0.39      8.864       358        83.52       680
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                 80     25,940,402      11.96      8.142       357        81.17       670
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                 11      3,541,850       1.63      8.081       356        80.02       664
Interest Only Fixed--30 Year--120
   mo. IO term                            1        331,000       0.15      6.750       357        79.95       638
Interest Only ARM--2 Year/6
   Month--120 mo. IO term                 1        186,686       0.09      8.000       358        80.00       641
Interest Only ARM--5 Year/6
   Month--120 mo. IO term                 1        157,439       0.07      8.570       358        89.97       627
-------------------------------------------------------------------------------------------------------------------
Total:                                1,199    216,979,403     100.00      8.805       351        80.89       624
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

6.000--6.999                             34      7,255,492       3.34      6.815       354        76.59       657
7.000--7.999                            242     54,009,953      24.89      7.649       355        78.62       648
8.000--8.999                            373     75,119,301      34.62      8.553       355        80.28       623
9.000--9.999                            305     54,411,425      25.08      9.519       355        82.13       608
10.000--10.999                          130     17,614,396       8.12     10.483       344        83.93       587
11.000--11.999                           51      5,072,465       2.34     11.477       309        84.08       597
12.000--12.999                           48      2,902,750       1.34     12.571       251        98.59       642
13.000--13.999                           15        545,256       0.25     13.508       259       100.00       639
14.000--14.999                            1         48,364       0.02     14.040       356       100.00       649
-------------------------------------------------------------------------------------------------------------------
Total:                                1,199    216,979,403     100.00      8.805       351        80.89       624
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.000
Maximum: 14.040
Weighted Average: 8.805

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate     Aggregate    Weighted    Weighted    Weighted
                                 Number      Cut-off       Cut-off      Average     Average     Average   Weighted
                                   of         Date          Date         Gross     Remaining   Combined    Average
   Range of Cut-off Date        Mortgage    Principal     Principal    Interest      Term      Original     FICO
   Principal Balances ($)        Loans     Balance ($)     Balance     Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

1--25,000                            24        513,136       0.24       10.843        281        99.99      660
25,001--50,000                       89      3,380,969       1.56       11.130        269        93.88      632
50,001--75,000                      112      7,154,160       3.30        9.931        313        83.83      613
75,001--100,000                     135     11,878,251       5.47        9.076        332        81.94      616
100,001--125,000                    140     15,892,106       7.32        9.053        345        80.88      601
125,001--150,000                    102     14,008,025       6.46        8.845        357        79.53      605
150,001--175,000                     92     15,010,630       6.92        8.916        355        75.68      605
175,001--200,000                     94     17,711,616       8.16        8.805        355        79.90      616
200,001--225,000                     82     17,417,563       8.03        8.699        357        80.44      616
225,001--250,000                     67     15,902,708       7.33        8.633        357        81.27      625
250,001--275,000                     49     12,861,850       5.93        8.592        357        80.49      615
275,001--300,000                     35      9,990,904       4.60        8.571        357        81.12      622
300,001--325,000                     34     10,616,052       4.89        8.322        357        80.01      624
325,001--350,000                     29      9,741,833       4.49        8.581        357        81.65      646
350,001--375,000                     24      8,684,190       4.00        8.588        357        80.58      631
375,001--400,000                     18      7,045,522       3.25        8.571        357        79.41      636
400,001--425,000                     14      5,803,509       2.67        8.663        357        83.30      633
425,001--450,000                     10      4,366,135       2.01        8.298        357        82.53      655
450,001--475,000                     10      4,632,222       2.13        8.522        358        83.70      667
475,001--500,000                      6      2,969,321       1.37        9.376        357        80.14      616
500,001--750,000                     27     16,379,139       7.55        8.739        357        81.94      643
750,001--1,000,000                    6      5,019,564       2.31        8.369        356        80.73      684
------------------------------------------------------------------------------------------------------------------
Total:                            1,199    216,979,403     100.00        8.805        351        80.89      624
------------------------------------------------------------------------------------------------------------------


Minimum: 15,186
Maximum: 988,617
Average: 180,967

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate     Aggregate    Weighted    Weighted    Weighted
                                 Number      Cut-off       Cut-off      Average     Average     Average   Weighted
                                   of         Date          Date         Gross     Remaining   Combined    Average
                                Mortgage    Principal     Principal    Interest      Term      Original     FICO
Stated Original Term (months)    Loans     Balance ($)     Balance     Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

120                                   5        351,912       0.16        8.258        117        70.62      637
180                                  96      5,617,337       2.59       11.199        176        96.12      648
240                                  14        949,118       0.44        8.662        237        81.68      641
360                               1,084    210,061,035      96.81        8.742        357        80.50      623
------------------------------------------------------------------------------------------------------------------
Total:                            1,199    216,979,403     100.00        8.805        351        80.89      624
------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate     Aggregate    Weighted    Weighted    Weighted
                                 Number      Cut-off       Cut-off      Average     Average     Average   Weighted
                                   of         Date          Date         Gross     Remaining   Combined    Average
  Range of Stated Remaining     Mortgage    Principal     Principal    Interest      Term      Original     FICO
        Terms (months)           Loans     Balance ($)     Balance     Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

109--120                              5        351,912       0.16        8.258        117        70.62      637
169--180                             96      5,617,337       2.59       11.199        176        96.12      648
229--240                             14        949,118       0.44        8.662        237        81.68      641
349--360                          1,084    210,061,035      96.81        8.742        357        80.50      623
------------------------------------------------------------------------------------------------------------------
Total:                            1,199    216,979,403     100.00        8.805        351        80.89      624
------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 351

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate     Aggregate    Weighted    Weighted    Weighted
                                 Number      Cut-off       Cut-off      Average     Average     Average   Weighted
                                   of         Date          Date         Gross     Remaining   Combined    Average
  Range of Combined Original    Mortgage    Principal     Principal    Interest      Term      Original     FICO
        LTV Ratios (%)           Loans     Balance ($)     Balance     Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

15.01--20.00                          2        185,983       0.09        8.966        357        18.01      582
20.01--25.00                          2        499,210       0.23        7.818        358        24.58      561
25.01--30.00                          1        121,709       0.06        7.190        357        26.81      645
30.01--35.00                          2        229,521       0.11        7.164        357        30.87      682
35.01--40.00                          7      1,596,733       0.74        8.191        357        39.27      593
40.01--45.00                          8      1,159,736       0.53        9.374        355        43.20      551
45.01--50.00                         11      1,665,674       0.77        8.503        357        47.74      599
50.01--55.00                          7        964,747       0.44        8.833        357        52.50      550
55.01--60.00                         15      1,869,342       0.86        8.142        347        58.04      593
60.01--65.00                         32      5,116,936       2.36        9.189        349        63.59      579
65.01--70.00                         50      9,395,905       4.33        9.116        352        68.37      571
70.01--75.00                         96     17,733,310       8.17        8.923        354        74.13      570
75.01--80.00                        481    100,641,220      46.38        8.412        356        79.84      639
80.01--85.00                        106     21,549,872       9.93        8.837        356        84.43      613
85.01--90.00                        149     29,145,152      13.43        8.991        357        89.50      622
90.01--95.00                         65     14,345,957       6.61        9.307        355        94.54      647
95.01--100.00                       165     10,758,394       4.96       10.878        277        99.72      659
------------------------------------------------------------------------------------------------------------------
Total:                            1,199    216,979,403     100.00        8.805        351        80.89      624
------------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 80.89

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate     Aggregate    Weighted    Weighted    Weighted
                                 Number      Cut-off       Cut-off      Average     Average     Average   Weighted
                                   of         Date          Date         Gross     Remaining   Combined    Average
                                Mortgage    Principal     Principal    Interest      Term      Original     FICO
  Range of Gross Margins (%)     Loans     Balance ($)     Balance     Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    326     30,984,261      14.28       9.393         318        84.47      625
<= 3.500                              8      1,497,093       0.69       8.479         357        76.98      641
3.501--4.000                          4        634,741       0.29       8.536         358        77.34      655
4.001--4.500                          9      1,878,073       0.87       8.080         357        76.26      629
4.501--5.000                         32      6,909,511       3.18       8.695         357        78.53      624
5.001--5.500                        125     28,778,293      13.26       8.592         356        80.47      629
5.501--6.000                        216     45,895,198      21.15       8.750         357        80.41      621
6.001--6.500                        214     49,822,103      22.96       8.634         358        81.92      634
6.501--7.000                        105     19,979,556       9.21       8.751         357        77.86      603
7.001--7.500                        141     24,820,655      11.44       8.814         357        79.06      610
7.501--8.000                         10      2,930,190       1.35       9.055         357        80.40      643
8.001--8.500                          6      1,637,325       0.75       9.391         357        79.29      614
8.501--9.000                          3      1,212,404       0.56       9.487         358        93.70      649
----------------------------------------------------------------------------------------------------------------
Total:                            1,199    216,979,403     100.00       8.805         351        80.89      624
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.480
Maximum: 8.750
Non-Zero Weighted Average: 6.198

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                            Aggregate     Aggregate    Weighted    Weighted    Weighted
                                 Number      Cut-off       Cut-off      Average     Average     Average   Weighted
                                   of         Date          Date         Gross     Remaining   Combined    Average
  Range of Minimum Mortgage     Mortgage    Principal     Principal    Interest      Term      Original     FICO
          Rates (%)              Loans     Balance ($)     Balance     Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    326     30,984,261      14.28         9.393       318        84.47       625
5.501--6.000                          1        305,296       0.14         6.000       356        85.00       739
6.001--6.500                          3        379,064       0.17         6.964       357        76.74       598
6.501--7.000                         26      5,416,353       2.50         6.901       357        76.38       650
7.001--7.500                         67     15,141,798       6.98         7.326       357        77.22       655
7.501--8.000                        137     33,507,086      15.44         7.817       357        80.20       646
8.001--8.500                        133     30,945,337      14.26         8.296       357        80.79       634
8.501--9.000                        175     36,111,042      16.64         8.799       357        79.70       617
9.001--9.500                        118     25,851,145      11.91         9.299       357        81.72       624
9.501--10.000                       116     22,769,030      10.49         9.809       357        81.32       587
10.001 -10.500                       43      7,463,753       3.44        10.308       357        83.33       574
10.501--11.000                       35      5,539,317       2.55        10.774       357        81.22       581
11.001--11.500                       10      1,361,563       0.63        11.233       356        71.55       574
11.501--12.000                        5        780,359       0.36        11.749       358        75.18       528
12.501--13.000                        4        423,998       0.20        12.853       358        92.89       675
------------------------------------------------------------------------------------------------------------------
Total:                            1,199    216,979,403     100.00         8.805       351        80.89       624
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.000
Maximum: 12.975
Non-Zero Weighted Average: 8.705

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                 % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
 Range of Maximum    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans         326     30,984,261      14.28      9.393       318        84.47       625
<= 12.500                 16      4,033,162       1.86      7.211       356        71.99       648
12.501--13.000            21      5,943,614       2.74      7.830       356        82.16       649
13.001--13.500            14      3,066,412       1.41      7.933       357        78.47       634
13.501--14.000            51     12,102,443       5.58      7.728       357        76.48       640
14.001--14.500            71     16,855,881       7.77      7.756       357        80.20       649
14.501--15.000           119     26,705,481      12.31      7.942       357        80.43       642
15.001--15.500           123     27,997,547      12.90      8.459       357        80.95       628
15.501--16.000           167     34,365,453      15.84      8.926       357        80.15       615
16.001--16.500           105     22,272,913      10.26      9.345       357        81.67       629
16.501--17.000           105     20,351,530       9.38      9.840       357        80.79       583
17.001--17.500            36      5,987,666       2.76     10.316       357        82.16       573
17.501--18.000            30      4,319,560       1.99     10.899       358        80.43       579
18.001--18.500             8        977,308       0.45     11.251       357        78.14       572
18.501--19.000             2        247,448       0.11     11.827       358        94.68       561
19.501--20.000             4        423,998       0.20     12.853       358        92.89       675
23.501--24.000             1        344,727       0.16      8.350       356        80.00       596
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 23.690
Non-Zero Weighted Average: 15.408

INITIAL PERIODIC CAP (%)



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
 Initial Periodic    Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Cap (%)          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans         326     30,984,261      14.28      9.393       318        84.47       625
1.000                      4        977,783       0.45      8.117       357        86.17       632
1.500                    167     33,775,334      15.57      8.771       357        78.25       616
2.000                    202     52,830,459      24.35      8.598       357        80.65       637
3.000                    498     98,067,441      45.20      8.750       357        80.74       618
5.000                      1        157,439       0.07      8.570       358        89.97       627
6.000                      1        186,686       0.09      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.438

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                 % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date        Date        Gross    Remaining   Combined    Average
    Subsequent       Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans         326     30,984,261      14.28      9.393       318        84.47       625
1.000                    216     50,522,226      23.28      8.790       356        80.54       627
1.500                    649    132,454,004      61.04      8.680       357        80.33       621
2.000                      8      3,018,911       1.39      8.503       352        74.81       653
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.372

MONTHS TO NEXT RATE ADJUSTMENT



                                                % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
  Months to Next     Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Rate Adjustment      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans         326     30,984,261      14.28      9.393       318        84.47       625
4                          1        274,325       0.13      7.500       352        80.00       596
14                         2        928,920       0.43      7.984       350        80.00       734
15                         6      1,950,621       0.90      8.565       351        79.26       630
16                        10      1,583,892       0.73      8.814       352        72.56       572
17                         7      1,441,947       0.66      8.614       353        81.70       628
18                        12      2,518,473       1.16      8.618       354        77.55       629
19                        35      7,870,086       3.63      8.612       355        77.53       606
20                        91     20,048,169       9.24      8.583       356        80.16       622
21                       170     42,088,553      19.40      8.629       357        80.41       631
22                       252     56,637,561      26.10      8.800       358        81.26       638
23                        48      9,498,419       4.38      8.594       359        81.01       619
24                         1        252,000       0.12      9.450       360        80.00       593
27                         1        620,450       0.29      8.750       351        80.00       629
30                         2        288,063       0.13      9.154       354        84.05       569
31                         6      1,173,054       0.54      8.907       355        73.20       574
32                        18      3,113,630       1.43      8.431       356        75.84       602
33                        97     14,605,000       6.73      8.756       357        80.69       590
34                       107     19,841,109       9.14      8.861       358        80.02       606
35                         2        148,190       0.07      9.166       359        81.66       626
55                         2        750,831       0.35      8.819       355        76.48       578
56                         1        125,744       0.06      9.400       356        86.90       605
58                         2        236,106       0.11      8.780       358        84.98       594
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 58
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
    Geographic        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
  Distribution of       of          Date         Date       Gross    Remaining   Combined    Average
     Mortgaged       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Properties         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Illinois                 304     53,058,923      24.45      8.817       351        81.78       618
California                71     26,691,852      12.30      8.887       351        80.87       663
Maryland                 106     23,767,703      10.95      8.361       355        78.58       614
New Jersey                78     20,673,940       9.53      8.901       357        77.01       607
Massachusetts             87     20,014,334       9.22      8.641       355        81.59       617
Texas                    174     15,577,676       7.18      8.715       337        81.36       602
New York                  53     12,406,404       5.72      8.567       357        78.65       641
Georgia                   67      9,521,517       4.39      8.998       357        83.31       614
Florida                   32      6,427,496       2.96      8.684       352        79.37       647
Wisconsin                 28      3,663,027       1.69      8.686       348        82.40       622
Hawaii                     6      3,116,278       1.44      8.961       355        84.77       680
North Carolina            29      2,675,321       1.23      9.093       355        81.36       608
New Mexico                15      2,654,555       1.22      8.607       357        84.27       607
Arizona                    8      1,792,416       0.83      9.862       345        80.90       610
Maine                      8      1,601,769       0.74      8.332       357        89.72       657
Other                    133     13,336,191       6.15      9.616       339        83.89       616
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 38

OCCUPANCY



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Occupancy         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Primary                1,092    197,703,491      91.12      8.760       351        80.61       620
Investment                92     14,199,733       6.54      9.375       356        84.11       655
Second Home               15      5,076,179       2.34      8.947       357        83.02       661
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Property Type       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

Single Family
  Residence              966    163,475,774      75.34      8.828       351        81.24       618
2-4 Family               109     25,715,356      11.85      8.779       352        78.81       637
Condo                     71     14,791,596       6.82      8.751       352        80.55       641
Planned Unit
   Development            53     12,996,677       5.99      8.626       356        81.07       642
----------------------------------------------------------------------------------------------------
Total:                 1,199    216,979,403     100.00      8.805       351        80.89       624
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------
LOAN PURPOSE



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Loan Purpose                       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Refinance--Cashout                        657    122,770,811      56.58      8.843       354        79.17       601
Purchase                                  448     79,066,200      36.44      8.794       348        83.51       661
Refinance--Rate Term                       94     15,142,392       6.98      8.551       353        81.22       606
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,199    216,979,403     100.00      8.805       351        80.89       624
---------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Documentation Level                   Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

Stated Documentation                      588    115,245,479      53.11      9.030       351        80.97       640
Full Documentation                        562     93,050,919      42.88      8.531       353        80.46       604
Limited Documentation                      49      8,683,005       4.00      8.746       344        84.58       612
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,199    216,979,403     100.00      8.805       351        80.89       624
---------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Credit Score                       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

500--524                                   89     13,984,469       6.45      9.677       355        71.07       512
525--549                                   85     14,556,313       6.71      9.549       357        74.69       536
550--574                                  113     19,213,797       8.86      9.214       357        80.00       563
575--599                                  139     23,358,322      10.77      9.093       354        80.61       587
600--624                                  195     35,660,596      16.44      8.617       350        82.14       612
625--649                                  241     40,760,743      18.79      8.530       350        81.43       637
650--674                                  151     29,758,320      13.71      8.509       349        83.95       662
675--699                                   83     16,971,404       7.82      8.538       348        82.54       687
700--724                                   46      9,347,011       4.31      8.499       347        83.21       710
725--749                                   35      8,618,700       3.97      8.583       355        84.20       737
750--774                                   15      3,088,487       1.42      8.574       349        84.41       760
775--799                                    6      1,596,351       0.74      8.170       350        83.49       781
800 +                                       1         64,890       0.03     10.100       357       100.00       802
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,199    216,979,403     100.00      8.805       351        80.89       624
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 802
Non-Zero Weighted Average: 624

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NO PREPAYMENT PENALTY                                    1,199 records
                                                           Balance: $216,979,403
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
Prepayment Penalty Term                 Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

0                                       1,199    216,979,403     100.00      8.805       351        80.89       624
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,199    216,979,403     100.00      8.805       351        80.89       624
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 0
Maximum: 0
Non-Zero Weighted Average: 0

LIEN POSITION



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Lien Position                      Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

1st Lien                                1,048    209,206,476      96.42      8.702       355        80.19      622
2nd Lien                                  151      7,772,926       3.58     11.569       244        99.80      658
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,199    216,979,403     100.00      8.805       351        80.89      624
---------------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Interest Only Term                   Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
---------------------------------------------------------------------------------------------------------------------

0                                       1,103    185,973,026      85.71      8.915       351        80.85       616
60                                         93     30,331,252      13.98      8.155       357        81.10       669
120                                         3        675,125       0.31      7.520       358        82.30       636
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,199    216,979,403     100.00      8.805       351        80.89       624
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 2,310
Aggregate Principal Balance ($): 492,483,197
Weighted Average Current Mortgage Rate (%): 8.606
Non-Zero Weighted Average Margin (%): 6.433
Non-Zero Weighted Average Maximum Rate (%): 15.209
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 350
Weighted Average Combined Original LTV (%): 80.21
% First Liens: 95.42
% Owner Occupied: 91.78
% Purchase: 50.85
% Full Doc: 0.00
Non-Zero Weighted Average Credit Score: 639

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
Originator          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             299     65,359,004      13.27      8.434       357        76.87       640
Chapel                  12      2,933,597       0.60      8.062       349        77.07       620
Encore                 141     41,432,393       8.41      8.633       355        78.94       639
First Banc              39      7,165,122       1.45      8.640       339        81.22       617
First Horizon           57     12,527,891       2.54      9.639       357        83.16       641
First NLC            1,128    211,699,334      42.99      8.553       347        80.77       638
Flex Point               7      1,834,618       0.37      9.014       356        73.60       627
Funding America         19      3,207,253       0.65      8.791       355        83.35       650
Lenders Direct          39      6,710,573       1.36      8.677       332        81.50       622
Lime Financial          40     10,720,629       2.18      8.319       344        83.99       647
Mandalay                24      3,635,752       0.74      8.735       293        86.30       682
Master Financial       126     28,280,989       5.74      8.851       333        84.82       642
Maxim                    8        664,689       0.13     10.141       328        88.38       607
New Century            261     67,507,701      13.71      8.622       358        80.08       645
Quick Loan              13      4,513,317       0.92      7.984       356        72.44       607
Rose Mortgage           97     24,290,335       4.93      8.782       356        78.34       630
--------------------------------------------------------------------------------------------------
Total:               2,310    492,483,197     100.00      8.606       350        80.21       639
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Product with IO term              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                            4        282,780       0.06      9.117       117        69.53       611
Fixed--15 Year                            7        516,437       0.10      9.232       176        75.04       648
Fixed--20 Year                           12      1,090,927       0.22      8.229       237        74.17       668
Fixed--25 Year                            1         49,640       0.01     11.300       298        70.00       592
Fixed--30 Year                          201     26,888,360       5.46      8.985       357        77.47       637
Balloon--15/30                          283     18,454,227       3.75     11.632       176        99.81       660
Balloon--30/40                           22      5,198,406       1.06      7.929       358        75.24       647
ARM--2 Year/6 Month Balloon 30/40       469    133,775,975      27.16      8.368       357        79.63       637
ARM--3 Year/6 Month Balloon 30/40       112     25,387,022       5.15      8.559       357        80.18       631
ARM--1 Year/6 Month                       2        542,838       0.11      7.742       352        84.95       602
ARM--2 Year/6 Month                     641    137,933,476      28.01      8.814       357        79.77       627
ARM--3 Year/6 Month                     222     37,935,005       7.70      8.788       357        77.49       612
ARM--5 Year/6 Month                       9      1,636,220       0.33      8.762       357        78.50       625
Dual Amort--10/40--2 Year/6 Month         2        805,870       0.16      7.275       352        74.85       626
Interest Only ARM--2 Year/6
Month--24 mo. IO term                     1        210,400       0.04      8.250       358        80.00       628
Interest Only ARM--3 Year/6
Month--36 mo. IO term                     2        411,500       0.08      8.195       357        75.77       611
Interest Only Fixed--30 Year--60
mo. IO term                               8      2,564,635       0.52      7.959       357        79.47       661
Interest Only ARM--2 Year/6
Month--60 mo. IO term                   258     83,211,505      16.90      7.980       356        79.89       666
Interest Only ARM--3 Year/6
Month--60 mo. IO term                    51     14,995,974       3.04      7.979       357        81.97       674
Interest Only ARM--5 Year/6
Month--60 mo. IO term                     1        180,000       0.04      7.500       357        80.00       700
Interest Only ARM--3 Year/6
Month--120 mo. IO term                    1         92,000       0.02      7.250       359        80.00       652
Interest Only ARM--5 Year/6
Month--120 mo. IO term                    1        320,000       0.06      8.000       357        80.00       656
-------------------------------------------------------------------------------------------------------------------
Total:                                2,310    492,483,197     100.00      8.606       350        80.21       639
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        270,882       0.06      5.990       350        90.00       614
6.000--6.999                             83     24,242,136       4.92      6.816       355        74.58       676
7.000--7.999                            578    161,022,049      32.70      7.648       357        78.18       661
8.000--8.999                            688    161,988,184      32.89      8.541       356        79.48       634
9.000--9.999                            455     95,065,849      19.30      9.490       356        81.61       612
10.000--10.999                          217     28,475,753       5.78     10.502       327        85.34       607
11.000--11.999                          166     14,083,552       2.86     11.526       240        91.98       627
12.000--12.999                           85      5,699,657       1.16     12.445       246        98.05       639
13.000--13.999                           35      1,526,803       0.31     13.414       223        99.69       630
14.000--14.999                            2        108,333       0.02     14.151       257       100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                2,310    492,483,197     100.00      8.606       350        80.21       639
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 14.240
Weighted Average: 8.606

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                              21       440,513        0.09     11.044       271        99.99       667
25,001--50,000                        138     5,391,401        1.09     11.731       228        97.63       646
50,001--75,000                        187    11,739,868        2.38     10.809       261        91.13       641
75,001--100,000                       192    16,851,709        3.42      9.767       310        84.97       636
100,001--125,000                      191    21,472,705        4.36      9.346       328        81.12       631
125,001--150,000                      194    26,782,862        5.44      8.904       350        77.35       628
150,001--175,000                      163    26,294,793        5.34      8.674       354        77.18       628
175,001--200,000                      187    35,279,013        7.16      8.655       356        78.48       631
200,001--225,000                      163    34,599,624        7.03      8.528       357        79.03       639
225,001--250,000                      147    34,915,692        7.09      8.561       356        79.63       628
250,001--275,000                       95    24,887,440        5.05      8.346       357        79.58       634
275,001--300,000                       98    28,219,005        5.73      8.464       357        79.14       631
300,001--325,000                       92    28,724,284        5.83      8.359       357        78.21       633
325,001--350,000                       76    25,645,644        5.21      8.299       357        80.24       642
350,001--375,000                       51    18,458,481        3.75      8.188       357        78.97       653
375,001--400,000                       63    24,559,311        4.99      8.162       357        79.86       653
400,001--425,000                       49    20,271,859        4.12      8.356       356        81.50       640
425,001--450,000                       38    16,697,037        3.39      8.064       357        81.14       642
450,001--475,000                       26    12,033,869        2.44      8.114       357        79.70       660
475,001--500,000                       41    20,127,530        4.09      8.163       356        79.74       650
500,001--750,000                       92    54,209,501       11.01      8.355       357        81.10       648
750,001--1,000,000                      6     4,881,055        0.99      8.630       355        81.55       682
-----------------------------------------------------------------------------------------------------------------
Total:                              2,310   492,483,197      100.00      8.606       350        80.21       639
-----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 213,196

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

120                                     4        282,780       0.06      9.117       117        69.53       611
180                                   290     18,970,665       3.85     11.566       176        99.14       660
240                                    12      1,090,927       0.22      8.229       237        74.17       668
300                                     1         49,640       0.01     11.300       298        70.00       592
360                                 2,003    472,089,185      95.86      8.487       357        79.47       638
-----------------------------------------------------------------------------------------------------------------
Total:                              2,310    492,483,197     100.00      8.606       350        80.21       639
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

109--120                                4        282,780       0.06      9.117       117        69.53       611
169--180                              290     18,970,665       3.85     11.566       176        99.14       660
229--240                               12      1,090,927       0.22      8.229       237        74.17       668
289--300                                1         49,640       0.01     11.300       298        70.00       592
349--360                            2,003    472,089,185      95.86      8.487       357        79.47       638
----------------------------------------------------------------------------------------------------------------
Total:                              2,310    492,483,197     100.00      8.606       350        80.21       639
----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 350

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

10.01--15.00                            1        149,735       0.03      6.625       358        14.63       668
15.01--20.00                            2        359,256       0.07      8.722       356        18.18       555
20.01--25.00                            4        760,612       0.15      7.516       335        23.83       596
25.01--30.00                            4        443,661       0.09      7.677       306        27.80       609
30.01--35.00                            6      1,062,011       0.22      7.376       358        32.65       651
35.01--40.00                            9      2,086,175       0.42      8.241       357        38.61       613
40.01--45.00                           11      2,087,379       0.42      8.023       358        42.26       608
45.01--50.00                           20      3,513,525       0.71      8.445       357        47.68       603
50.01--55.00                           24      4,604,608       0.93      8.686       356        52.58       574
55.01--60.00                           33      5,648,094       1.15      8.038       354        58.21       596
60.01--65.00                           62     12,542,615       2.55      8.724       356        63.52       580
65.01--70.00                           92     21,075,742       4.28      8.856       357        68.86       589
70.01--75.00                          128     28,623,533       5.81      8.706       355        73.92       581
75.01--80.00                        1,059    270,850,947      55.00      8.177       357        79.86       656
80.01--85.00                          204     45,968,712       9.33      8.765       356        84.58       620
85.01--90.00                          217     52,127,705      10.58      9.068       356        89.55       633
90.01--95.00                           69     15,930,657       3.23      9.503       352        94.62       655
95.01--100.00                         365     24,648,230       5.00     11.409       223        99.98       662
-----------------------------------------------------------------------------------------------------------------
Total:                              2,310    492,483,197     100.00      8.606       350        80.21       639
-----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.21

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      538    55,045,412      11.18       9.715        291       84.71       647
<= 3.500                               14     2,914,032       0.59       7.426        357       76.69       668
3.501--4.000                           10     2,564,538       0.52       7.283        357       78.87       675
4.001--4.500                           26     6,983,480       1.42       7.566        358       77.10       663
4.501--5.000                           66    17,332,757       3.52       8.101        357       80.10       661
5.001--5.500                          193    56,457,961      11.46       8.441        356       80.72       649
5.501--6.000                          251    62,249,071      12.64       8.587        356       79.30       635
6.001--6.500                          363    93,353,193      18.96       8.419        357       80.45       646
6.501--7.000                          271    67,623,244      13.73       8.289        357       78.16       633
7.001--7.500                          480   100,509,727      20.41       8.606        357       79.40       628
7.501--8.000                           62    16,958,231       3.44       8.858        357       79.73       624
8.001--8.500                           28     8,624,920       1.75       9.217        357       81.08       602
8.501--9.000                            5     1,395,068       0.28       9.400        357       90.89       616
9.001--9.500                            2       415,588       0.08       9.370        358       80.00       639
9.501--10.000                           1        55,974       0.01      12.999        358       80.00       593
----------------------------------------------------------------------------------------------------------------
Total:                              2,310   492,483,197     100.00       8.606        350       80.21       639
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.999
Non-Zero Weighted Average: 6.433

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of          Date         Date      Gross     Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      538     55,045,412      11.18       9.715      291        84.71     647
5.501--6.000                            6      1,876,542       0.38       7.970      352        81.16     619
6.001--6.500                           10      2,661,602       0.54       6.821      354        73.91     672
6.501--7.000                           62     18,451,892       3.75       6.879      356        77.29     667
7.001--7.500                          154     45,805,784       9.30       7.318      357        77.96     667
7.501--8.000                          386    106,756,193      21.68       7.821      357        78.66     658
8.001--8.500                          275     72,137,235      14.65       8.297      357        79.56     645
8.501--9.000                          343     78,335,379      15.91       8.799      357        79.92     625
9.001--9.500                          209     49,270,772      10.00       9.280      357        81.63     622
9.501--10.000                         184     38,167,978       7.75       9.791      357        81.53     597
10.001 -10.500                         71     13,013,931       2.64      10.280      357        83.01     585
10.501--11.000                         50      7,937,223       1.61      10.770      357        82.20     594
11.001--11.500                         10      1,555,163       0.32      11.155      356        68.11     552
11.501--12.000                          4        452,590       0.09      11.806      357        68.66     522
12.001--12.500                          2        485,416       0.10      12.108      354        88.29     614
12.501--13.000                          6        530,084       0.11      12.838      358        90.78     654
--------------------------------------------------------------------------------------------------------------
Total:                              2,310    492,483,197     100.00       8.606      350        80.21     639
--------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.454

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      538     55,045,412      11.18      9.715       291        84.71       647
<= 12.500                              15      5,164,077       1.05      6.864       354        73.32       661
12.501--13.000                         29      9,712,099       1.97      7.499       356        79.73       669
13.001--13.500                         34     10,788,380       2.19      7.719       356        78.03       657
13.501--14.000                        108     31,682,928       6.43      7.659       356        77.08       648
14.001--14.500                        177     51,899,377      10.54      7.649       357        78.52       660
14.501--15.000                        374    100,641,919      20.44      7.962       357        79.05       655
15.001--15.500                        262     66,190,398      13.44      8.443       357        80.05       640
15.501--16.000                        313     68,732,418      13.96      8.863       357        80.26       624
16.001--16.500                        184     41,404,136       8.41      9.311       357        81.71       624
16.501--17.000                        160     32,550,573       6.61      9.819       357        80.82       595
17.001--17.500                         55     10,019,321       2.03     10.273       358        82.27       579
17.501--18.000                         44      6,216,117       1.26     10.845       357        83.47       594
18.001--18.500                          8      1,085,963       0.22     11.193       356        73.27       557
18.501--19.000                          1         39,964       0.01     11.850       357       100.00       628
19.001--19.500                          2        485,416       0.10     12.108       354        88.29       614
19.501--20.000                          5        479,972       0.10     12.870       358        91.39       666
23.501--24.000                          1        344,727       0.07      8.350       356        80.00       596
-----------------------------------------------------------------------------------------------------------------
Total:                              2,310    492,483,197     100.00      8.606       350        80.21       639
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.200
Maximum: 23.690
Non-Zero Weighted Average: 15.209

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                        Aggregate   Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               538     55,045,412      11.18      9.715       291        84.71       647
1.000                            2        473,448       0.10      8.810       358        85.68       640
1.500                          304     69,866,452      14.19      8.573       357        78.45       636
2.000                          350     97,328,086      19.76      8.568       357        79.42       644
3.000                        1,114    269,357,798      54.69      8.402       357        80.02       636
5.000                            1        320,000       0.06      8.000       357        80.00       656
6.000                            1         92,000       0.02      7.250       359        80.00       652
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197     100.00      8.606       350        80.21       639
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.538

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  538     55,045,412      11.18      9.715       291        84.71       647
1.000                             460    127,889,690      25.97      8.578       356        80.11       633
1.500                           1,300    305,177,579      61.97      8.428       357        79.49       640
2.000                              12      4,370,515       0.89      7.915       352        76.92       661
-------------------------------------------------------------------------------------------------------------
Total:                          2,310    492,483,197     100.00      8.606       350        80.21       639
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.359

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     538     55,045,412      11.18      9.715       291        84.71       647
4                                      2        542,838       0.11      7.742       352        84.95       602
13                                     1        148,392       0.03      7.715       349        80.00       688
14                                     8      2,986,661       0.61      7.119       350        79.86       687
15                                    14      4,902,258       1.00      8.087       351        76.97       645
16                                    21      5,233,940       1.06      8.375       352        79.18       616
17                                    30      9,368,865       1.90      8.200       353        80.93       637
18                                    34      8,650,385       1.76      8.637       354        80.51       624
19                                    87     23,658,908       4.80      8.437       355        80.31       632
20                                   194     53,575,843      10.88      8.501       356        79.85       638
21                                   367     98,670,121      20.04      8.458       357        79.86       638
22                                   551    133,670,442      27.14      8.462       358        79.51       643
23                                    63     14,781,411       3.00      8.548       359        79.63       647
24                                     1        290,000       0.06      7.700       360        71.08       622
26                                     1        343,599       0.07      7.350       350        79.45       609
27                                     1        620,450       0.13      8.750       351        80.00       629
28                                     2        281,914       0.06      8.319       352        83.38       642
29                                     1         67,233       0.01      8.940       353        90.00       657
30                                     2        398,019       0.08      8.347       354        88.05       607
31                                    10      2,491,579       0.51      8.832       355        82.35       598
32                                    32      6,383,491       1.30      8.588       356        80.92       640
33                                   133     26,450,764       5.37      8.585       357        79.60       620
34                                   195     39,528,497       8.03      8.514       358        78.48       639
35                                    11      2,255,955       0.46      8.730       359        76.22       603
55                                     2        750,831       0.15      8.819       355        76.48       578
56                                     1        125,744       0.03      9.400       356        86.90       605
57                                     3        576,402       0.12      8.175       357        80.66       664
58                                     3        395,258       0.08      8.125       358        73.67       648
59                                     2        287,984       0.06      8.750       359        85.00       725
----------------------------------------------------------------------------------------------------------------
Total:                             2,310    492,483,197     100.00      8.606       350        80.21       639
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)   (months)       LTV      Score
------------------------------------------------------------------------------------------------------------

California                       636    188,576,282      38.29      8.322       346        80.33       648
Florida                          413     74,154,756      15.06      8.790       349        80.13       632
Illinois                         196     36,236,605       7.36      8.883       351        81.79       633
New York                          90     27,704,002       5.63      8.232       357        77.15       658
Arizona                          108     19,415,764       3.94      8.672       352        79.35       625
Nevada                            64     12,959,577       2.63      8.426       347        81.75       643
Texas                            120     12,443,001       2.53      8.876       342        81.16       635
New Jersey                        40     11,044,141       2.24      9.077       357        76.51       622
Rhode Island                      53     10,753,482       2.18      8.780       357        78.54       626
Massachusetts                     42      9,963,324       2.02      9.063       353        80.57       622
Maryland                          42      9,601,899       1.95      8.720       355        81.78       637
Virginia                          46      8,748,785       1.78      8.939       350        77.44       625
Hawaii                            18      8,498,723       1.73      8.197       357        79.06       656
Connecticut                       28      6,811,652       1.38      8.744       356        79.38       626
Pennsylvania                      50      6,296,190       1.28      8.890       357        80.88       625
Other                            364     49,275,012      10.01      9.074       351        81.62       627
------------------------------------------------------------------------------------------------------------
Total:                         2,310    492,483,197     100.00      8.606       350        80.21       639
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 46

OCCUPANCY



                                          % of
                                       Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date       Gross    Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
---------------------------------------------------------------------------------------------

Primary         2,096    451,982,096      91.78      8.551       349        79.99       637
Investment        181     32,219,704       6.54      9.251       356        82.32       654
Second Home        33      8,281,397       1.68      9.097       355        83.74       663
---------------------------------------------------------------------------------------------
Total:          2,310    492,483,197     100.00      8.606       350        80.21       639
---------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      1,834    376,865,200      76.52      8.582        349       80.43       637
2-4 Family                     198     53,291,624      10.82      8.704        350       78.76       648
Condo                          156     31,806,427       6.46      8.755        349       81.76       654
Planned Unit Development       122     30,519,946       6.20      8.571        351       78.41       638
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197     100.00      8.606        350       80.21       639
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Purchase                     1,251    250,440,164      50.85      8.573        344       82.73       665
Refinance--Cashout             976    226,371,546      45.97      8.636        355       77.49       612
Refinance--Rate Term            83     15,671,487       3.18      8.706        349       79.05       620
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197     100.00      8.606        350       80.21       639
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Documentation Level       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Stated Documentation         2,137    456,501,438     92.69       8.630       350        80.07       641
Limited Documentation          173     35,981,758      7.31       8.300       347        81.92       619
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197    100.00       8.606       350        80.21       639
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

CREDIT SCORE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

500--524                        75     14,736,960       2.99      9.712       356        70.34       512
525--549                       118     25,445,398       5.17      9.390       357        71.39       538
550--574                       135     27,358,694       5.56      9.031       357        75.60       563
575--599                       190     38,701,868       7.86      9.009       355        79.80       588
600--624                       328     72,901,731      14.80      8.697       350        80.90       613
625--649                       534    105,031,014      21.33      8.663       347        81.94       637
650--674                       408     87,760,349      17.82      8.349       346        81.43       661
675--699                       245     55,644,769      11.30      8.239       347        81.39       686
700--724                       123     28,735,487       5.83      8.071       349        81.51       710
725--749                        80     17,042,133       3.46      8.237       352        82.79       735
750--774                        48     12,549,296       2.55      8.040       349        81.21       760
775--799                        21      5,718,396       1.16      7.963       350        81.61       783
800 +                            5        857,101       0.17      7.897       317        85.44       806
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197     100.00      8.606       350        80.21       639
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 639

PREPAYMENT PENALTY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

0                              637    123,928,484      25.16      9.011       350        81.22       638
6                               11      2,891,604       0.59      8.357       357        77.75       652
12                             155     45,594,247       9.26      8.431       355        78.58       657
24                             963    227,896,420      46.27      8.385       352        80.02       637
30                               6      1,197,184       0.24      9.218       357        79.27       613
36                             518     88,078,007      17.88      8.692       339        80.40       636
48                               1        145,964       0.03      8.500       359        36.50       529
60                              19      2,751,287       0.56      8.822       353        76.09       618
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197     100.00      8.606       350        80.21       639
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-FULL DOCUMENTATION                                   2,310 records
                                                           Balance: $492,483,197
--------------------------------------------------------------------------------

LIEN POSITION



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
          Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

1st Lien                     1,952    469,950,839     95.42       8.460        356       79.27       638
2nd Lien                       358     22,532,358      4.58      11.644        207       99.82       660
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197    100.00       8.606        350       80.21       639
----------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

0                            1,987    390,497,183      79.29      8.770        348       80.22       632
24                               1        210,400       0.04      8.250        358       80.00       628
36                               2        411,500       0.08      8.195        357       75.77       611
60                             318    100,952,113      20.50      7.979        357       80.19       667
120                              2        412,000       0.08      7.833        357       80.00       655
----------------------------------------------------------------------------------------------------------
Total:                       2,310    492,483,197     100.00      8.606        350       80.21       639
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



TERM SHEET DISCLAIMER

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--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

   IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
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to purchase securities that have characteristics that may change, and you are
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to you is conditioned on the securities and the underlying transaction having
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all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
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the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 3,676
Aggregate Principal Balance ($): 672,426,295
Weighted Average Current Mortgage Rate (%): 8.626
Non-Zero Weighted Average Margin (%): 6.384
Non-Zero Weighted Average Maximum Rate (%): 15.228
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 349
Weighted Average Combined Original LTV (%): 80.02
% First Liens: 95.66
% Owner Occupied: 91.27
% Purchase: 38.97
% Full Doc: 41.93
Non-Zero Weighted Average Credit Score: 618

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             470     88,446,141      13.15      8.622       356        77.01       613
Chapel                  13      2,108,719       0.31      7.959       348        74.63       587
Encore                 282     67,954,529      10.11      8.406       355        78.89       620
First Banc              49      7,064,819       1.05      8.765       331        79.13       602
First Horizon          185     27,001,829       4.02      9.215       357        84.01       615
First NLC            1,633    264,291,520      39.30      8.638       346        80.89       617
Flex Point              18      4,130,210       0.61      9.029       357        69.69       596
Funding America         45      4,729,002       0.70      9.192       349        81.80       623
Lenders Direct          45      6,931,162       1.03      8.661       322        80.25       618
Lime Financial          46      8,261,290       1.23      8.846       335        86.87       630
Mandalay                27      3,505,257       0.52      9.147       278        88.14       663
Master Financial       180     37,868,431       5.63      8.746       328        84.15       630
Maxim                   15      1,747,337       0.26      9.151       336        84.37       600
New Century            481    105,478,137      15.69      8.466       358        79.60       625
Quick Loan              30      7,554,309       1.12      8.303       356        71.88       581
Rose Mortgage          157     35,353,604       5.26      8.700       356        77.51       609
--------------------------------------------------------------------------------------------------
Total:               3,676    672,426,295     100.00      8.626       349        80.02       618
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                            7        496,311       0.07      8.252       117        64.85       631
Fixed--15 Year                           23      1,940,686       0.29      8.448       177        69.52       634
Fixed--20 Year                           24      1,990,559       0.30      8.449       237        75.91       634
Fixed--25 Year                            3        245,515       0.04      8.559       298        84.90       622
Fixed--30 Year                          489     62,069,627       9.23      8.684       357        78.47       620
Balloon--15/30                          354     23,914,670       3.56     11.437       176        99.11       657
Balloon--30/40                           67     14,725,319       2.19      7.933       357        78.80       627
ARM--2 Year/6 Month Balloon 30/40       789    213,147,286      31.70      8.242       357        80.12       626
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.03      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40       211     44,732,369       6.65      8.383       357        80.00       616
ARM--1 Year/6 Month                       2        542,838       0.08      7.742       352        84.95       602
ARM--2 Year/6 Month                   1,203    227,698,738      33.86      8.687       357        79.02       614
ARM--3 Year/6 Month                     488     77,786,208      11.57      8.903       357        78.83       592
ARM--5 Year/6 Month                      12      1,990,884       0.30      8.472       357        76.09       631
Dual Amort--10/40--2 Year/6 Month         3        941,351       0.14      7.192       352        75.59       631
-------------------------------------------------------------------------------------------------------------------
Total:                                3,676    672,426,295     100.00      8.626       349        80.02       618
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              2        569,676       0.08      5.990       353        71.41       651
6.000--6.999                            175     43,303,497       6.44      6.724       353        74.52       659
7.000--7.999                            874    203,213,250      30.22      7.648       356        78.34       640
8.000--8.999                          1,095    217,562,243      32.35      8.549       356        79.28       613
9.000--9.999                            770    132,801,376      19.75      9.530       354        81.16       590
10.000--10.999                          385     46,292,972       6.88     10.510       333        85.11       587
11.000--11.999                          236     20,330,593       3.02     11.514       258        89.99       612
12.000--12.999                          100      6,606,772       0.98     12.431       244        97.81       633
13.000--13.999                           37      1,637,585       0.24     13.410       219        99.71       628
14.000--14.999                            2        108,333       0.02     14.151       257       100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                3,676    672,426,295     100.00      8.626       349        80.02       618
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 14.240
Weighted Average: 8.626

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date PrincipaL   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                              31        673,662       0.10     11.023       269        99.81       650
25,001--50,000                        217      8,609,762       1.28     11.184       254        93.39       633
50,001--75,000                        367     23,301,211       3.47     10.134       297        85.82       619
75,001--100,000                       401     35,162,897       5.23      9.343       326        82.55       613
100,001--125,000                      430     48,618,842       7.23      9.077       339        80.11       605
125,001--150,000                      381     52,591,563       7.82      8.817       350        78.23       605
150,001--175,000                      328     53,143,775       7.90      8.706       353        77.59       606
175,001--200,000                      287     54,054,293       8.04      8.564       356        78.29       608
200,001--225,000                      228     48,421,117       7.20      8.476       356        79.26       620
225,001--250,000                      192     45,589,296       6.78      8.498       357        78.91       613
250,001--275,000                      143     37,455,866       5.57      8.305       357        79.66       607
275,001--300,000                      128     36,899,376       5.49      8.355       356        78.88       617
300,001--325,000                      109     34,032,775       5.06      8.252       357        79.03       618
325,001--350,000                       83     27,980,372       4.16      8.375       357        80.09       622
350,001--375,000                       48     17,319,672       2.58      8.255       357        78.56       640
375,001--400,000                       59     22,976,047       3.42      8.257       357        80.14       631
400,001--425,000                       47     19,398,283       2.88      8.293       356        81.80       625
425,001--450,000                       38     16,687,464       2.48      8.117       357        80.51       624
450,001--475,000                       28     12,929,322       1.92      8.242       357        80.43       644
475,001--500,000                       34     16,668,143       2.48      8.218       356        81.39       635
500,001--750,000                       91     54,759,961       8.14      8.296       357        81.22       640
750,001--1,000,000                      6      5,152,597       0.77      8.241       357        83.75       657
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02       618
-----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 988,617
Average: 182,923

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

120                                     7        496,311       0.07      8.252       117        64.85       631
180                                   377     25,855,356       3.85     11.213       176        96.89       656
240                                    24      1,990,559       0.30      8.449       237        75.91       634
300                                     3        245,515       0.04      8.559       298        84.90       622
360                                 3,265    643,838,554      95.75      8.523       357        79.36       616
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02       618
-----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

109--120                                7        496,311       0.07      8.252       117        64.85       631
169--180                              377     25,855,356       3.85     11.213       176        96.89       656
229--240                               24      1,990,559       0.30      8.449       237        75.91       634
289--300                                3        245,515       0.04      8.559       298        84.90       622
337--348                                1         73,261       0.01     10.240       348        99.97       615
349--360                            3,264    643,765,293      95.74      8.523       357        79.36       616
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02       618
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 349

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

10.01--15.00                            1        149,735       0.02      6.625       358        14.63       668
15.01--20.00                            4        430,264       0.06      8.793       356        18.12       550
20.01--25.00                            6        952,051       0.14      7.360       323        23.73       597
25.01--30.00                            7        789,898       0.12      7.722       328        27.12       614
30.01--35.00                            8      1,258,495       0.19      7.747       358        32.73       636
35.01--40.00                           16      2,292,611       0.34      8.900       357        38.38       576
40.01--45.00                           38      5,817,573       0.87      8.098       354        42.52       582
45.01--50.00                           48      7,555,973       1.12      8.191       357        47.94       602
50.01--55.00                           47      8,490,614       1.26      8.469       349        53.00       575
55.01--60.00                           68     11,134,393       1.66      8.043       350        57.94       592
60.01--65.00                          115     21,297,220       3.17      8.743       355        63.31       568
65.01--70.00                          184     34,988,887       5.20      8.802       355        68.79       577
70.01--75.00                          275     55,359,603       8.23      8.539       354        74.05       575
75.01--80.00                        1,378    295,081,811      43.88      8.237       356        79.84       635
80.01--85.00                          398     75,233,129      11.19      8.785       356        84.59       599
85.01--90.00                          402     80,477,378      11.97      8.815       356        89.63       624
90.01--95.00                          174     33,108,231       4.92      9.049       354        94.62       639
95.01--100.00                         507     38,008,430       5.65     10.912       247        99.86       652
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02       618
-----------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.02

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      967    105,382,687      15.67      9.193       309        82.94       630
<= 3.500                               16      3,298,655       0.49      7.781       357        79.11       647
3.501--4.000                           10      2,215,592       0.33      7.498       357        77.72       673
4.001--4.500                           26      5,998,035       0.89      7.706       358        75.37       631
4.501--5.000                           91     23,185,089       3.45      8.106       357        79.21       640
5.001--5.500                          287     75,205,045      11.18      8.335       356        80.98       630
5.501--6.000                          499     99,406,018      14.78      8.562       357        79.32       613
6.001--6.500                          585    124,239,815      18.48      8.363       357        80.72       627
6.501--7.000                          404     87,529,114      13.02      8.488       357        77.32       608
7.001--7.500                          682    120,199,928      17.88      8.812       357        79.01       601
7.501--8.000                           67     15,962,947       2.37      9.052       357        80.21       600
8.001--8.500                           31      7,567,416       1.13      9.276       356        78.89       562
8.501--9.000                            6      1,571,447       0.23      9.415       357        91.75       636
9.001--9.500                            4        608,535       0.09     10.003       357        81.06       607
9.501--10.000                           1         55,974       0.01     12.999       358        80.00       593
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02       618
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.999
Non-Zero Weighted Average: 6.384


RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      967    105,382,687      15.67      9.193       309        82.94       630
5.501--6.000                            7      2,245,450       0.33      6.900       354        81.07       660
6.001--6.500                           29      7,141,466       1.06      6.568       356        76.41       634
6.501--7.000                          107     25,775,371       3.83      6.846       356        76.77       650
7.001--7.500                          225     54,818,390       8.15      7.336       357        78.13       650
7.501--8.000                          531    127,386,993      18.94      7.820       357        78.74       634
8.001--8.500                          389     88,129,196      13.11      8.292       357        79.82       623
8.501--9.000                          519    104,512,327      15.54      8.805       357        79.07       607
9.001--9.500                          300     59,467,231       8.84      9.300       357        80.72       601
9.501--10.000                         321     57,299,352       8.52      9.798       357        81.01       576
10.001 -10.500                        133     19,501,868       2.90     10.297       357        83.04       572
10.501--11.000                        103     14,721,660       2.19     10.772       357        83.29       573
11.001--11.500                         25      3,609,194       0.54     11.207       357        72.33       548
11.501--12.000                         10      1,308,419       0.19     11.772       358        74.81       535
12.001--12.500                          4        596,608       0.09     12.107       355        86.35       598
12.501--13.000                          6        530,084       0.08     12.838       358        90.78       654
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02       618
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.513

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (%)                    Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      967    105,382,687      15.67      9.193       309        82.94      630
<= 12.500                              40     11,790,389       1.75      6.979       355        77.28      644
12.501--13.000                         57     14,399,598       2.14      7.653       356        80.79      632
13.001--13.500                         70     18,599,033       2.77      7.578       357        78.12      629
13.501--14.000                        180     44,547,073       6.62      7.577       357        76.65      631
14.001--14.500                        245     58,797,770       8.74      7.646       357        78.56      644
14.501--15.000                        499    115,875,472      17.23      7.984       357        78.98      633
15.001--15.500                        359     78,390,532      11.66      8.447       357        79.78      618
15.501--16.000                        476     92,447,196      13.75      8.882       357        79.34      606
16.001--16.500                        259     49,203,424       7.32      9.338       357        81.45      603
16.501--17.000                        283     49,595,486       7.38      9.831       357        80.57      572
17.001--17.500                        114     16,388,101       2.44     10.321       357        82.20      566
17.501--18.000                         91     12,373,795       1.84     10.837       357        83.92      572
18.001--18.500                         21      2,692,761       0.40     11.216       357        76.37      546
18.501--19.000                          5        521,670       0.08     11.794       358        90.79      563
19.001--19.500                          4        596,608       0.09     12.107       355        86.35      598
19.501--20.000                          5        479,972       0.07     12.870       358        91.39      666
23.501--24.000                          1        344,727       0.05      8.350       356        80.00      596
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02      618
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.228

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)       Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      967    105,382,687      15.67      9.193       309        82.94      630
1.000                                   3        737,783       0.11      8.529       357        89.02      631
1.500                                 470     94,976,674      14.12      8.677       357        78.43      614
2.000                                 620    146,445,041      21.78      8.427       357        79.25      622
3.000                               1,616    324,884,111      48.32      8.518       357        79.86      613
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02      618
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 3.000
Non-Zero Weighted Average: 2.488

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      967    105,382,687      15.67      9.193       309        82.94      630
1.000                                 774    174,022,112      25.88      8.545       356        79.88      614
1.500                               1,924    390,277,886      58.04      8.513       357        79.38      617
2.000                                  11      2,743,610       0.41      8.173       352        67.83      597
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02      618
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.349

MONTHS TO NEXT RATE ADJUSTMENT



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      967    105,382,687      15.67      9.193       309        82.94      630
4                                       2        542,838       0.08      7.742       352        84.95      602
13                                      1        148,392       0.02      7.715       349        80.00      688
14                                      8      1,646,256       0.24      7.423       350        79.95      590
15                                     17      3,441,971       0.51      7.741       351        78.58      623
16                                     33      5,996,893       0.89      8.131       352        76.53      604
17                                     40      9,234,325       1.37      8.188       353        79.27      630
18                                     56     11,830,022       1.76      8.653       354        79.42      616
19                                    124     29,289,309       4.36      8.427       355        80.01      616
20                                    307     73,287,552      10.90      8.443       356        79.06      620
21                                    492    111,903,624      16.64      8.524       357        79.69      618
22                                    780    166,954,447      24.83      8.486       358        79.63      623
23                                    136     27,716,519       4.12      8.499       359        80.21      617
24                                      2        542,000       0.08      8.514       360        75.23      609
28                                      2        358,456       0.05      8.226       352        82.66      614
29                                      1         67,233       0.01      8.940       353        90.00      657
30                                      6        849,442       0.13      8.660       354        81.18      579
31                                     20      3,753,727       0.56      8.826       355        79.38      572
32                                     58     10,851,807       1.61      8.605       356        78.59      607
33                                    266     45,761,558       6.81      8.721       357        80.03      598
34                                    330     57,979,565       8.62      8.715       358        78.89      605
35                                     16      2,896,789       0.43      8.902       359        75.36      586
54                                      1        163,942       0.02      6.950       354        55.00      686
55                                      2        750,831       0.11      8.819       355        76.48      578
56                                      1        125,744       0.02      9.400       356        86.90      605
57                                      1         76,402       0.01     10.500       357        85.00      615
58                                      4        551,001       0.08      7.804       358        75.46      645
59                                      3        322,963       0.05      8.734       359        80.69      717
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02      618
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of         Date          Date       Gross    Remaining   Combined   Average
   Geographic Distribution of     Mortgage   Principal     Principal   Interest      Term     Original     FICO
     Mortgaged Properties           Loans    Balance ($)     Balance   Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

California                            677    182,181,362      27.09      8.384         343     79.81         631
Florida                               585     99,948,121      14.86      8.661         349     79.43         614
Illinois                              305     52,982,922       7.88      8.796         351     81.76         618
New York                              122     34,588,279       5.14      8.120         356     75.45         647
Texas                                 263     25,863,787       3.85      8.717         343     81.70         613
Arizona                               141     24,311,263       3.62      8.678         352     78.56         602
Massachusetts                          85     19,002,697       2.83      8.702         355     81.59         615
New Jersey                             72     18,881,132       2.81      9.020         357     77.60         604
Maryland                               92     18,788,077       2.79      8.599         355     77.83         598
Virginia                               92     15,691,493       2.33      8.832         352     78.03         602
Pennsylvania                          121     14,887,417       2.21      8.832         355     81.13         607
Washington                             79     14,758,010       2.19      8.341         350     80.49         601
Connecticut                            71     14,359,874       2.14      8.569         356     78.50         615
Nevada                                 68     13,447,828       2.00      8.465         347     81.50         624
Rhode Island                           66     13,055,175       1.94      8.739         357     78.69         615
Other                                 837    109,678,858      16.31      8.961         354     82.20         609
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626         349     80.02         618
-----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

OCCUPANCY



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Occupancy                Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Primary                             3,344    613,692,355      91.27      8.588       349        79.82      615
Investment                            287     47,870,054       7.12      9.050       356        81.98      651
Second Home                            45     10,863,886       1.62      8.958       356        82.57      643
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02      618
-----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Property Type             Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Single Family Residence             3,010    528,475,519      78.59      8.625       349        80.27      614
2-4 Family                            267     64,847,576       9.64      8.610       351        77.67      639
Planned Unit Development              175     40,653,370       6.05      8.516       351        79.49      619
Condo                                 224     38,449,829       5.72      8.794       348        81.08      634
-----------------------------------------------------------------------------------------------------------------
Total:                              3,676    672,426,295     100.00      8.626       349        80.02      618
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Loan Purpose              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Refinance--Cashout                 1,917    375,496,412      55.84      8.588       355        77.36       596
Purchase                           1,551    262,066,992      38.97      8.704       342        83.68       650
Refinance--Rate Term                 208     34,862,891       5.18      8.460       351        81.14       608
----------------------------------------------------------------------------------------------------------------
Total:                             3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Documentation Level        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Stated Documentation               1,841    363,766,860      54.10      8.784       348        80.08       634
Full Documentation                 1,689    281,929,112      41.93      8.428       352        79.74       599
Limited Documentation                146     26,730,324       3.98      8.570       344        82.16       608
----------------------------------------------------------------------------------------------------------------
Total:                             3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Credit Score             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

500--524                             278     46,225,483       6.87      9.554       356        71.76       512
525--549                             314     53,891,969       8.01      9.290       357        73.26       537
550--574                             348     62,444,114       9.29      8.940       357        77.75       562
575--599                             443     80,910,623      12.03      8.736       354        80.35       588
600--624                             616    112,479,518      16.73      8.501       349        81.09       612
625--649                             701    125,453,820      18.66      8.488       346        82.36       636
650--674                             437     82,543,823      12.28      8.334       345        82.30       661
675--699                             258     51,075,380       7.60      8.163       343        81.72       686
700--724                             129     26,734,788       3.98      8.149       343        83.55       710
725--749                              82     15,706,279       2.34      8.331       350        83.33       735
750--774                              45      9,621,823       1.43      7.985       347        81.75       759
775--799                              21      4,986,764       0.74      7.744       338        80.63       784
800 +                                  4        351,912       0.05      9.070       269        96.63       808
----------------------------------------------------------------------------------------------------------------
Total:                             3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 618

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-INTEREST ONLY                                        3,676 records
                                                           Balance: $672,426,295
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Prepayment Penalty Term       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                  1,103    185,973,026      27.66      8.915       351        80.85       616
6                                     11      2,343,111       0.35      8.864       357        78.17       612
12                                   195     53,279,514       7.92      8.400       353        78.02       644
24                                 1,390    283,559,141      42.17      8.415       352        79.89       619
30                                     6      1,226,947       0.18      9.614       357        82.70       599
36                                   914    138,643,612      20.62      8.725       342        80.12       611
48                                     1        145,964       0.02      8.500       359        36.50       529
60                                    56      7,254,980       1.08      9.032       352        77.35       573
----------------------------------------------------------------------------------------------------------------
Total:                             3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27


LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Lien Position            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1st Lien                           3,216    643,252,506      95.66      8.497       356        79.13       616
2nd Lien                             460     29,173,789       4.34     11.483       208        99.52       657
----------------------------------------------------------------------------------------------------------------
Total:                             3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                  3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------
Total:                             3,676    672,426,295     100.00      8.626       349        80.02       618
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 347
Aggregate Principal Balance ($): 62,319,966
Weighted Average Current Mortgage Rate (%): 9.001
Non-Zero Weighted Average Margin (%): 6.426
Non-Zero Weighted Average Maximum Rate (%): 15.666
Weighted Average Stated Original Term (months): 359
Weighted Average Stated Remaining Term (months): 356
Weighted Average Combined Original LTV (%): 82.07
% First Liens: 99.71
% Owner Occupied: 0.00
% Purchase: 48.65
% Full Doc: 35.01
Non-Zero Weighted Average Credit Score: 652

ORIGINATOR



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Accredited                           42       6,237,168     10.01       9.185       356        79.69       651
Encore                               37       8,189,248     13.14       8.642       356        78.24       639
First Banc                            5         450,545      0.72       9.312       303        85.32       681
First Horizon                        43       6,520,395     10.46       9.537       358        87.44       655
First NLC                           102      15,535,291     24.93       8.728       356        82.99       660
Flex Point                            4         962,982      1.55       8.915       356        61.88       622
Funding America                       3         375,833      0.60       8.935       355        88.73       724
Lenders Direct                        2         310,422      0.50       8.538       355        90.95       667
Lime Financial                        3         405,153      0.65       8.662       357        88.76       670
Mandalay                              3         376,605      0.60       9.923       353        90.00       660
Master Financial                      5       1,263,006      2.03       8.988       357        90.84       702
Maxim                                 1          78,143      0.13      10.150       358        90.00       631
New Century                          84      17,493,051     28.07       9.199       358        81.85       646
Quick Loan                            1         772,045      1.24       8.350       356        90.00       648
Rose Mortgage                        12       3,350,079      5.38       8.818       358        79.11       648
----------------------------------------------------------------------------------------------------------------
Total:                              347      62,319,966    100.00       9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Product with IO term          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed--10 Year                        1          81,574       0.13      8.050       117        62.04       618
Fixed--15 Year                        1          51,302       0.08      8.990       175        80.00       736
Fixed--30 Year                       43       5,144,420       8.25      8.671       357        76.97       640
Balloon--15/30                        3         135,793       0.22     11.103       177        93.74       712
Balloon--30/40                        2         156,885       0.25      9.273       356        76.95       632
ARM--2 Year/6 Month Balloon
   30/40                             57      13,791,485      22.13      9.173       357        81.31       635
ARM--3 Year/6 Month Balloon
   30/40                              8       1,306,618       2.10      8.973       357        80.99       665
ARM--2 Year/6 Month                 178      33,690,564      54.06      9.046       357        83.21       655
ARM--3 Year/6 Month                  36       3,892,902       6.25      8.943       357        82.44       655
ARM--5 Year/6 Month                   3         482,397       0.77      8.407       359        82.98       725
Interest Only Fixed--30
   Year--60 mo. IO term               1         314,000       0.50      6.150       357        78.50       683
Interest Only ARM--2 Year/6
   Month--60 mo. IO term             10       2,138,590       3.43      9.093       357        82.59       689
Interest Only ARM--3 Year/6
   Month--60 mo. IO term              3         946,750       1.52      7.918       358        81.57       685
Interest Only ARM--2 Year/6
   Month--120 mo. IO term             1         186,686       0.30      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------------------
Total:                              347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
    Range of Gross Interest      Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Rates (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

6.000--6.999                          4      1,296,746        2.08      6.774       355        82.35       670
7.000--7.999                         54     12,319,176       19.77      7.708       357        76.89       675
8.000--8.999                        109     19,467,207       31.24      8.611       356        80.98       654
9.000--9.999                        115     20,473,040       32.85      9.557       357        84.63       645
10.000--10.999                       47      7,407,974       11.89     10.475       356        86.04       633
11.000--11.999                       10        714,086        1.15     11.314       335        79.64       573
12.000--12.999                        7        594,066        0.95     12.761       358        89.62       642
13.000--13.999                        1         47,671        0.08     13.525       357        90.00       649
----------------------------------------------------------------------------------------------------------------
Total:                              347     62,319,966      100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------------


Minimum: 6.150
Maximum: 13.525
Weighted Average: 9.001

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                  Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                            of          Date        Date       Gross     Remaining   Combined   Average
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest      Term     Original     FICO
Principal Balances ($)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------------

25,001--50,000              17          720,464       1.16     10.235       337        84.26       654
50,001--75,000              47        2,913,988       4.68      9.891       350        83.89       638
75,001--100,000             46        3,979,182       6.39      9.170       352        81.72       641
100,001--125,000            42        4,619,612       7.41      9.200       357        81.81       643
125,001--150,000            25        3,483,990       5.59      8.885       357        77.10       652
150,001--175,000            33        5,260,265       8.44      8.909       357        77.15       647
175,001--200,000            31        5,849,244       9.39      8.929       357        83.53       654
200,001--225,000            23        4,820,965       7.74      9.087       358        82.75       659
225,001--250,000            18        4,306,243       6.91      9.259       357        82.30       646
250,001--275,000            10        2,619,912       4.20      8.779       357        86.95       661
275,001--300,000             4        1,136,548       1.82      9.002       358        90.01       657
300,001--325,000             8        2,523,093       4.05      8.616       357        82.94       642
325,001--350,000            10        3,406,546       5.47      8.706       358        79.74       660
350,001--375,000             5        1,801,117       2.89      9.060       357        78.60       677
375,001--400,000             7        2,706,859       4.34      8.294       357        88.31       679
400,001--425,000             2          828,884       1.33      7.418       355        77.12       660
425,001--450,000             1          434,721       0.70     10.090       358        95.00       628
450,001--475,000             3        1,406,826       2.26      9.475       358        91.68       683
475,001--500,000             4        1,929,799       3.10      9.462       358        83.70       637
500,001--750,000             9        5,950,041       9.55      8.824       357        78.38       651
750,001--1,000,000           2        1,621,667       2.60      8.625       357        84.08       633
--------------------------------------------------------------------------------------------------------
Total:                     347       62,319,966     100.00      9.001       356        82.07       652
--------------------------------------------------------------------------------------------------------


Minimum: 33,956
Maximum: 849,622
Average: 179,596

STATED ORIGINAL TERM (MONTHS)



                                             % of
                                           Mortgage
                                           Pool by
                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                    of          Date         Date       Gross    Remaining   Combined   Average
Stated Original  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------

120                  1           81,574       0.13      8.050       117        62.04       618
180                  4          187,095       0.30     10.524       176        89.97       719
360                342       62,051,297      99.57      8.997       357        82.07       652
------------------------------------------------------------------------------------------------
Total:             347       62,319,966     100.00      9.001       356        82.07       652
------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 359

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                              % of
                                            Mortgage
                                            Pool by
                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Range of Stated      of          Date         Date       Gross    Remaining   Combined   Average
Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   (months)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------

109--120               1          81,574       0.13      8.050       117        62.04       618
169--180               4         187,095       0.30     10.524       176        89.97       719
349--360             342      62,051,297      99.57      8.997       357        82.07       652
-------------------------------------------------------------------------------------------------
Total:               347      62,319,966     100.00      9.001       356        82.07       652
-------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 359
Weighted Average: 356

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                % of
                                              Mortgage
                                              Pool by
                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Range of Combined      of          Date         Date       Gross    Remaining   Combined   Average
  Original LTV      Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Ratios (%)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------

25.01--30.00             1         109,872       0.18      8.725       358        25.14       605
30.01--35.00             1         199,537       0.32      7.340       357        31.75       673
35.01--40.00             1         139,947       0.22      9.425       358        40.00       617
40.01--45.00             1         169,662       0.27      9.500       356        40.96       521
45.01--50.00             7       1,033,956       1.66      8.338       357        48.51       629
50.01--55.00             8       1,864,903       2.99      8.749       356        52.42       611
55.01--60.00             3         342,507       0.55      8.904       357        56.24       598
60.01--65.00            10       1,762,341       2.83      8.893       346        62.81       614
65.01--70.00            17       2,939,440       4.72      8.450       357        68.83       632
70.01--75.00            17       2,645,719       4.25      9.047       357        74.69       630
75.01--80.00            84      16,810,107      26.97      8.769       357        79.83       648
80.01--85.00            61      10,766,054      17.28      8.758       357        84.62       654
85.01--90.00            87      14,008,803      22.48      9.367       357        89.71       659
90.01--95.00            46       9,193,151      14.75      9.454       356        94.87       679
95.01--100.00            3         333,966       0.54      9.936       357       100.00       709
---------------------------------------------------------------------------------------------------
Total:                 347      62,319,966     100.00      9.001       356        82.07       652
---------------------------------------------------------------------------------------------------


Minimum: 25.14
Maximum: 100.00
Weighted Average: 82.07

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
 Range of Gross    Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Fixed Rate Loans       51       5,883,974       9.44      8.603       348        77.26       644
<= 3.500                1         186,686       0.30      8.000       358        80.00       641
4.001--4.500            1          75,494       0.12      7.820       358        84.00       629
4.501--5.000            3         730,234       1.17      7.797       358        83.87       680
5.001--5.500           34       7,317,655      11.74      8.465       356        79.76       655
5.501--6.000           59      10,191,458      16.35      9.041       357        84.13       665
6.001--6.500           85      17,248,615      27.68      9.298       357        84.14       652
6.501--7.000           35       8,679,183      13.93      8.942       357        76.84       636
7.001--7.500           59       7,909,401      12.69      8.924       357        84.31       660
7.501--8.000           10       2,543,037       4.08      9.636       357        83.53       637
8.001--8.500            4         577,664       0.93      9.744       357        88.78       623
8.501--9.000            3         856,609       1.37      9.617       358        91.37       649
9.001--9.500            1          63,982       0.10     12.125       359        80.00       548
9.501--10.000           1          55,974       0.09     12.999       358        80.00       593
--------------------------------------------------------------------------------------------------
Total:                347      62,319,966     100.00      9.001       356        82.07       652
--------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.000
Maximum: 9.999
Non-Zero Weighted Average: 6.426

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined   Average
 Range of Minimum    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Mortgage Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans         51       5,883,974       9.44      8.603       348        77.26       644
6.001--6.500              1         151,782       0.24      8.050       355        80.00       602
6.501--7.000              1         409,464       0.66      6.950       352        85.00       651
7.001--7.500             11       2,759,915       4.43      7.368       357        76.24       681
7.501--8.000             41       9,161,408      14.70      7.866       357        77.03       672
8.001--8.500             28       5,586,976       8.96      8.340       357        83.47       665
8.501--9.000             59      11,188,216      17.95      8.801       357        82.44       653
9.001--9.500             52      10,064,856      16.15      9.318       357        85.34       650
9.501--10.000            49       8,995,151      14.43      9.813       357        83.68       640
10.001 -10.500           25       4,513,154       7.24     10.303       357        84.30       623
10.501--11.000           19       2,694,126       4.32     10.794       358        89.06       649
11.001--11.500            2         240,423       0.39     11.080       358        71.79       538
11.501--12.000            1          76,455       0.12     11.875       358        75.00       546
12.001--12.500            1          63,982       0.10     12.125       359        80.00       548
12.501--13.000            6         530,084       0.85     12.838       358        90.78       654
----------------------------------------------------------------------------------------------------
Total:                  347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.300
Maximum: 12.999
Non-Zero Weighted Average: 9.038

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      51       5,883,974       9.44      8.603       348        77.26       644
<= 12.500                              4       1,747,956       2.80      7.310       355        77.82       661
12.501--13.000                         6       1,272,798       2.04      7.886       356        79.34       655
13.001--13.500                         2         476,563       0.76      8.318       357        90.00       598
13.501--14.000                        12       2,684,508       4.31      8.205       357        74.87       650
14.001--14.500                        16       3,268,472       5.24      8.074       357        81.59       674
14.501--15.000                        37       8,203,814      13.16      8.248       357        76.51       663
15.001--15.500                        31       6,393,053      10.26      8.883       357        80.97       656
15.501--16.000                        56      10,270,170      16.48      8.895       357        83.26       659
16.001--16.500                        45       8,493,161      13.63      9.353       357        86.47       655
16.501--17.000                        40       7,034,148      11.29      9.810       357        86.25       641
17.001--17.500                        20       3,106,943       4.99     10.273       358        85.44       615
17.501--18.000                        18       2,623,572       4.21     10.830       358        89.07       651
18.001--18.500                         2         240,423       0.39     11.080       358        71.79       538
18.501--19.000                         1          76,455       0.12     11.875       358        75.00       546
19.001--19.500                         1          63,982       0.10     12.125       359        80.00       548
19.501--20.000                         5         479,972       0.77     12.870       358        91.39       666
-----------------------------------------------------------------------------------------------------------------
Total:                               347      62,319,966     100.00      9.001       356        82.07       652
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.950
Maximum: 19.999
Non-Zero Weighted Average: 15.666

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               51       5,883,974       9.44      8.603       348        77.26       644
1.000                           1         195,830       0.31     10.100       358        80.00       648
1.500                          54      10,168,290      16.32      9.196       357        81.62       644
2.000                          96      20,253,878      32.50      9.003       357        79.64       646
3.000                         144      25,631,307      41.13      9.012       357        85.31       662
6.000                           1         186,686       0.30      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------------
Total:                        347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.374

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  51       5,883,974       9.44      8.603       348        77.26       644
1.000                             96      20,403,346      32.74      9.000       357        83.20       653
1.500                            198      35,711,356      57.30      9.077       357        82.35       652
2.000                              2         321,289       0.52      7.832       357        68.24       639
-------------------------------------------------------------------------------------------------------------
Total:                           347      62,319,966     100.00      9.001       356        82.07       652
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.322

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     51       5,883,974       9.44      8.603       348        77.26       644
15                                    2         329,088       0.53      9.566       351        56.68       579
16                                    3         802,291       1.29      8.574       352        85.67       636
17                                    2         268,350       0.43      8.847       353        73.54       597
18                                    3         371,207       0.60      9.214       354        82.34       696
19                                    8       1,697,086       2.72      8.880       355        80.32       622
20                                   37       7,444,112      11.94      8.918       356        81.36       641
21                                   65      13,427,327      21.55      8.927       357        82.12       652
22                                  114      23,120,189      37.10      9.213       358        83.57       657
23                                   12       2,347,673       3.77      9.399       359        85.92       645
28                                    1         190,785       0.31      7.875       352        85.00       649
30                                    1         116,584       0.19      8.690       354        90.00       646
31                                    2         205,142       0.33      9.576       355        84.98       585
32                                    1         101,805       0.16      9.690       356        85.00       640
33                                   11       1,142,353       1.83      8.597       357        83.42       693
34                                   31       4,389,601       7.04      8.828       358        81.07       659
58                                    1         194,413       0.31      7.900       358        80.00       724
59                                    2         287,984       0.46      8.750       359        85.00       725
----------------------------------------------------------------------------------------------------------------
Total:                              347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 15
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Mortgaged Properties       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

California                       58      18,179,915      29.17      8.859       357        79.98       651
Florida                          65      12,289,614      19.72      9.036       357        83.24       651
Illinois                         30       4,588,552       7.36      8.950       357        80.51       640
Texas                            22       2,275,804       3.65      9.090       349        82.06       637
Nevada                            9       1,986,982       3.19      8.395       348        89.13       689
New York                          6       1,900,320       3.05      8.909       358        78.75       669
Hawaii                            3       1,630,829       2.62      9.276       357        85.91       649
Tennessee                        12       1,314,471       2.11      9.360       351        85.49       688
Georgia                          12       1,227,028       1.97      9.005       357        88.38       677
Massachusetts                     4       1,207,929       1.94      9.870       357        84.80       649
Pennsylvania                     12       1,192,782       1.91      9.085       356        81.19       624
Michigan                         14       1,100,981       1.77      9.557       357        84.25       616
Maryland                          7       1,032,036       1.66      8.287       357        79.12       663
Colorado                          6         989,927       1.59      8.639       358        86.15       683
Missouri                         11         983,172       1.58      9.603       357        84.23       656
Other                            76      10,419,623      16.72      9.132       357        81.78       649
------------------------------------------------------------------------------------------------------------
Total:                          347      62,319,966     100.00      9.001       356        82.07       652
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 38

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date       Gross    Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------

Investment       294      49,653,254      79.67      9.026       356        81.90       652
Second Home       53      12,666,712      20.33      8.902       356        82.77       652
---------------------------------------------------------------------------------------------
Total:           347      62,319,966     100.00      9.001       356        82.07       652
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       238      37,077,825      59.50      9.078       356        83.92       654
2-4 Family                     69      15,886,191      25.49      8.781       357        78.88       650
Condo                          25       6,211,418       9.97      9.239       358        81.96       643
Planned Unit Development       15       3,144,533       5.05      8.731       358        76.69       652
----------------------------------------------------------------------------------------------------------
Total:                        347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of         Date          Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Purchase                  172      30,320,620      48.65      9.183       357        87.13       663
Refinance--Cashout        162      29,411,943      47.20      8.863       356        77.33       638
Refinance--Rate Term       13       2,587,403       4.15      8.431       357        76.73       674
------------------------------------------------------------------------------------------------------
Total:                    347      62,319,966     100.00      9.001       356        82.07       652
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                 Pool by
                                    Aggregate   Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off     Cut-off     Average     Average    Average   Weighted
                           of          Date        Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal   Principal   Interest      Term     Original     FICO
Documentation Level       Loans    Balance ($)   Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Stated Documentation      191       36,402,466     58.41      9.316       356        82.49       656
Full Documentation        133       21,818,865     35.01      8.595       357        81.08       644
Limited Documentation      23        4,098,635      6.58      8.363       352        83.67       656
------------------------------------------------------------------------------------------------------
Total:                    347       62,319,966    100.00      9.001       356        82.07       652
------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

500--524            7        968,992        1.55     10.366        357       70.03       514
525--549            9        878,115        1.41     10.343        357       67.98       541
550--574           13      1,995,503        3.20      9.327        356       67.83       564
575--599           28      5,187,781        8.32      9.158        357       76.96       589
600--624           54      9,024,066       14.48      9.158        355       78.16       612
625--649           72     14,054,489       22.55      9.320        357       85.56       639
650--674           61     10,417,892       16.72      8.695        357       82.90       662
675--699           43      9,028,413       14.49      8.525        356       82.42       686
700--724           20      3,990,900        6.40      8.981        358       88.77       709
725--749           24      4,370,268        7.01      8.659        355       85.09       736
750--774           13      2,052,048        3.29      8.660        353       88.32       756
775--799            3        351,500        0.56      8.657        358       84.25       786
----------------------------------------------------------------------------------------------
Total:            347     62,319,966      100.00      9.001        356       82.07       652
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 501
Maximum: 796
Non-Zero Weighted Average: 652

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET NON-OWNER OCCUPIED                                         347 records
                                                            Balance: $62,319,966
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number       Cut-off     Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            107      19,275,911      30.93      9.262        356       83.82       656
12                            16       4,080,698       6.55      8.773        357       82.40       665
24                           151      29,023,543      46.57      8.997        356       81.55       646
30                             1         212,571       0.34      9.100        358       85.00       646
36                            65       8,761,821      14.06      8.482        357       80.91       661
60                             7         965,420       1.55      9.534        348       71.31       607
---------------------------------------------------------------------------------------------------------
Total:                       347      62,319,966     100.00      9.001        356       82.07       652
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 26

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number       Cut-off     Cut-off     Average    Average     Average   Weighted
              of          Date         Date       Gross    Remaining   Combined    Average
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------

1st Lien      343      62,138,881      99.71      8.994       357        82.03       652
2nd Lien        4         181,085       0.29     11.215       221        95.31       690
------------------------------------------------------------------------------------------
Total:        347      62,319,966     100.00      9.001       356        82.07       652
------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number       Cut-off     Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

0                       332      58,733,940      94.25      9.033       356        82.09       650
60                       14       3,399,340       5.45      8.494       357        81.93       688
120                       1         186,686       0.30      8.000       358        80.00       641
----------------------------------------------------------------------------------------------------
Total:                  347      62,319,966     100.00      9.001       356        82.07       652
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,588
Aggregate Principal Balance ($): 263,526,669
Weighted Average Current Mortgage Rate (%): 9.043
Non-Zero Weighted Average Margin (%): 6.367
Non-Zero Weighted Average Maximum Rate (%): 15.415
Weighted Average Stated Original Term (months): 343
Weighted Average Stated Remaining Term (months): 340
Weighted Average Combined Original LTV (%): 90.13
%First Liens: 89.04
%Owner Occupied: 86.98
%Purchase: 31.98
%Full Doc: 47.38
Non-Zero Weighted Average Credit Score: 626

ORIGINATOR



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Accredited                            125     22,089,403       8.38       9.037      356        84.55       586
Chapel                                  1         48,043       0.02      12.900      173       100.00       634
Encore                                118     32,466,466      12.32       8.531      355        88.42       629
First Banc                             25      2,785,642       1.06       9.427      302        92.03       636
First Horizon                         107     16,966,335       6.44       9.523      356        90.89       620
First NLC                             740     99,805,987      37.87       9.305      332        90.73       621
Flex Point                              4        743,705       0.28       8.606      358        85.94       617
Funding America                        28      1,966,501       0.75      10.332      355        94.52       643
Lenders Direct                         25      2,849,406       1.08       9.242      303        92.35       636
Lime Financial                         31      4,841,961       1.84       9.412      320        91.73       630
Mandalay                               22      2,618,770       0.99       9.805      252        95.60       678
Master Financial                      124     22,927,297       8.70       9.067      311        92.44       640
Maxim                                   8        564,018       0.21      10.906      290        93.53       608
New Century                           159     36,426,740      13.82       8.541      358        90.61       642
Quick Loan                              9      2,610,249       0.99       8.042      356        92.09       634
Rose Mortgage                          62     13,816,148       5.24       8.610      357        89.34       640
-----------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00       9.043      340        90.13       626
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                            8        572,923       0.22     10.010        176       91.08       607
Fixed--20 Year                           10        677,093       0.26      9.769        237       89.44       623
Fixed--25 Year                            2        195,875       0.07      7.864        298       88.68       629
Fixed--30 Year                          237     25,812,248       9.79      9.169        357       90.77       630
Balloon--15/30                          351     23,377,434       8.87     11.513        176       99.83       657
Balloon--30/40                           32      6,252,321       2.37      8.236        357       89.09       603
ARM--2 Year/6 Month Balloon 30/40       217     58,337,730      22.14      8.538        357       89.37       621
ARM--3 Year/6 Month Balloon 30/40        68     13,484,786       5.12      8.820        357       88.92       605
ARM--1 Year/6 Month                       1        268,513       0.10      7.990        352       90.00       608
ARM--2 Year/6 Month                     380     71,967,618      27.31      9.059        357       89.14       626
ARM--3 Year/6 Month                     171     25,390,496       9.63      9.368        357       88.51       590
ARM--5 Year/6 Month                       4        490,130       0.19      9.190        358       85.49       677
Interest Only Fixed--30 Year--60
   mo. IO term                            1        475,000       0.18      9.150        358       86.36       673
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                 86     30,477,612      11.57      8.115        356       88.74       644
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                 17      5,250,449       1.99      8.111        357       86.88       657
Interest Only ARM--5 Year/6
   Month--60 mo. IO term                  2        339,000       0.13      8.454        358       89.94       693
Interest Only ARM--5 Year/6
   Month--120 mo. IO term                 1        157,439       0.06      8.570        358       89.97       627
-------------------------------------------------------------------------------------------------------------------
Total:                                1,588    263,526,669     100.00      9.043        340       90.13       626
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                               Aggregate     Aggregate   Weighted   Weighted    Weighted
                                     Number     Cut-off       Cut-off     Average    Average     Average   Weighted
                                       of        Date           Date      Gross     Remaining   Combined   Average
                                    Mortgage   Principal     Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans    Balance ($)     Balance    Rate (%)    (months)     LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        270,882       0.10      5.990        350       90.00       614
6.000--6.999                             27      9,050,512       3.43      6.616        357       86.77       669
7.000--7.999                            219     59,013,990      22.39      7.632        356       88.42       639
8.000--8.999                            362     75,053,438      28.48      8.585        356       89.12       625
9.000--9.999                            397     69,750,264      26.47      9.520        353       89.22       611
10.000--10.999                          249     27,664,859      10.50     10.523        317       92.77       615
11.000--11.999                          198     14,573,190       5.53     11.576        219       98.89       639
12.000--12.999                           96      6,403,615       2.43     12.431        241       98.42       635
13.000--13.999                           37      1,637,585       0.62     13.410        219       99.71       628
14.000--14.999                            2        108,333       0.04     14.151        257      100.00       637
-------------------------------------------------------------------------------------------------------------------
Total:                                1,588    263,526,669     100.00      9.043        340       90.13       626
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 14.240
Weighted Average: 9.043

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                              31        673,662       0.26     11.023       269        99.81      650
25,001--50,000                        185      7,223,920       2.74     11.460       241        98.30      644
50,001--75,000                        209     13,101,760       4.97     10.860       257        96.16      644
75,001--100,000                       193     16,839,494       6.39     10.018       303        92.70      625
100,001--125,000                      174     19,493,236       7.40      9.953       316        91.91      614
125,001--150,000                      129     17,753,764       6.74      9.305       341        90.32      606
150,001--175,000                      104     16,779,941       6.37      9.129       345        89.97      615
175,001--200,000                       94     17,675,103       6.71      8.934       355        88.71      616
200,001--225,000                       91     19,340,181       7.34      8.703       357        88.96      626
225,001--250,000                       74     17,536,730       6.65      8.855       357        88.59      625
250,001--275,000                       48     12,650,111       4.80      8.468       357        89.77      619
275,001--300,000                       42     12,099,644       4.59      8.446       357        89.68      620
300,001--325,000                       37     11,518,037       4.37      8.421       357        87.69      629
325,001--350,000                       37     12,535,825       4.76      8.369       357        87.94      632
350,001--375,000                       16      5,747,254       2.18      8.406       357        88.41      638
375,001--400,000                       15      5,830,103       2.21      8.725       357        92.60      648
400,001--425,000                       20      8,161,218       3.10      8.478       356        88.83      623
425,001--450,000                       15      6,619,379       2.51      8.481       356        88.46      607
450,001--475,000                        9      4,191,238       1.59      8.588       357        89.62      648
475,001--500,000                       16      7,772,552       2.95      8.383       357        87.59      631
500,001--750,000                       44     25,810,492       9.79      8.415       356        88.71      636
750,001--1,000,000                      5      4,173,024       1.58      8.140       356        88.44      665
-----------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00      9.043       340        90.13      626
-----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 988,299
Average: 165,949

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Stated Original Term (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

180                                   359     23,950,357       9.09     11.477       176        99.62      656
240                                    10        677,093       0.26      9.769       237        89.44      623
300                                     2        195,875       0.07      7.864       298        88.68      629
360                                 1,217    238,703,343      90.58      8.798       357        89.18      623
-----------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00      9.043       340        90.13      626
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 343

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                     of         Date         Date       Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                              359     23,950,357       9.09     11.477       176        99.62       656
229--240                               10        677,093       0.26      9.769       237        89.44       623
289--300                                2        195,875       0.07      7.864       298        88.68       629
337--348                                1         73,261       0.03     10.240       348        99.97       615
349--360                            1,216    238,630,082      90.55      8.798       357        89.18       623
-----------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00      9.043       340        90.13       626
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 340

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average    Weighted
                                    of           Date         Date       Gross    Remaining   Combined    Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original      FICO
           Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

80.01--85.00                          437     87,800,198      33.32      8.668       356        84.51      606
85.01--90.00                          449     98,133,687      37.24      8.684       356        89.55      627
90.01--95.00                          194     39,254,353      14.90      8.969       355        94.65      643
95.01--100.00                         508     38,338,430      14.55     10.898       248        99.87      652
-----------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00      9.043       340        90.13      626
-----------------------------------------------------------------------------------------------------------------


Minimum: 80.08
Maximum: 100.00
Weighted Average: 90.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      641     57,362,894      21.77     10.033       280        94.22      638
<= 3.500                                1        270,882       0.10      5.990       350        90.00      614
3.501--4.000                            2        600,999       0.23      6.907       358        82.33      662
4.001--4.500                            8      1,643,627       0.62      7.746       358        84.32      621
4.501--5.000                           17      5,310,777       2.02      8.209       357        89.75      649
5.001--5.500                          132     36,892,955      14.00      8.475       356        88.52      628
5.501--6.000                          195     39,928,656      15.15      8.757       357        89.46      620
6.001--6.500                          208     45,889,149      17.41      8.700       357        89.52      629
6.501--7.000                          107     23,530,982       8.93      8.863       357        88.57      623
7.001--7.500                          236     39,840,164      15.12      9.103       357        88.93      612
7.501--8.000                           19      4,932,878       1.87      9.072       357        88.40      623
8.001--8.500                           15      5,266,498       2.00      9.205       356        87.11      583
8.501--9.000                            6      1,927,242       0.73      9.370       357        93.15      638
9.001--9.500                            1        128,965       0.05     10.990       355        85.00      532
--------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00      9.043       340        90.13      626
--------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.490
Non-Zero Weighted Average: 6.367

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      641     57,362,894      21.77     10.033       280        94.22      638
5.501--6.000                            4      1,245,580       0.47      6.230       354        88.04      680
6.001--6.500                            9      2,814,904       1.07      6.431       358        88.67      653
6.501--7.000                           14      5,067,631       1.92      6.865       356        86.52      655
7.001--7.500                           54     15,796,217       5.99      7.317       356        88.36      649
7.501--8.000                          131     34,728,281      13.18      7.827       357        88.43      635
8.001--8.500                          109     26,579,726      10.09      8.287       357        89.12      629
8.501--9.000                          183     38,707,650      14.69      8.831       357        89.05      625
9.001--9.500                          133     29,777,659      11.30      9.272       357        88.77      617
9.501--10.000                         166     30,332,660      11.51      9.785       357        89.33      601
10.001 -10.500                         68     10,351,592       3.93     10.264       357        90.42      593
10.501--11.000                         59      8,454,605       3.21     10.767       357        90.80      593
11.001--11.500                          7        968,008       0.37     11.201       357        89.93      549
11.501--12.000                          3        379,735       0.14     11.807       357        95.84      574
12.001--12.500                          2        485,416       0.18     12.108       354        88.29      614
12.501--13.000                          5        474,110       0.18     12.819       358        92.06      661
--------------------------------------------------------------------------------------------------------------
Total:                              1,588    263,526,669     100.00      9.043       340        90.13      626
--------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.975
Non-Zero Weighted Average: 8.765

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          641     57,362,894      21.77     10.033       280        94.22       638
<= 12.500                                  12      3,731,450       1.42      6.904       355        87.19       654
12.501--13.000                             25      8,133,713       3.09      7.875       356        88.69       633
13.001--13.500                             27      8,801,716       3.34      7.472       357        88.31       619
13.501--14.000                             35     10,589,866       4.02      7.657       356        88.66       655
14.001--14.500                             66     18,777,329       7.13      7.839       356        88.87       648
14.501--15.000                            124     29,882,640      11.34      8.188       357        88.32       630
15.001--15.500                            100     22,842,497       8.67      8.483       357        88.95       627
15.501--16.000                            172     35,670,243      13.54      8.932       357        89.02       621
16.001--16.500                            116     24,729,261       9.38      9.301       357        89.09       617
16.501--17.000                            142     24,629,473       9.35      9.779       357        89.37       598
17.001--17.500                             59      8,683,556       3.30     10.246       358        90.24       593
17.501--18.000                             53      7,434,872       2.82     10.789       358        90.85       593
18.001--18.500                              7        968,008       0.37     11.201       357        89.93       549
18.501--19.000                              3        379,735       0.14     11.807       357        95.84       574
19.001--19.500                              2        485,416       0.18     12.108       354        88.29       614
19.501--20.000                              4        423,998       0.16     12.853       358        92.89       675
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,588    263,526,669     100.00      9.043       340        90.13       626
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 19.975
Non-Zero Weighted Average: 15.415

INITIAL PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Initial Periodic Cap (%)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          641     57,362,894      21.77     10.033       280        94.22       638
1.000                                       2        541,953       0.21      7.961       357        92.27       625
1.500                                     131     26,435,286      10.03      8.960       357        86.39       601
2.000                                     223     58,652,711      22.26      8.471       357        89.32       636
3.000                                     590    120,376,385      45.68      8.874       357        89.39       621
5.000                                       1        157,439       0.06      8.570       358        89.97       627
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,588    263,526,669     100.00      9.043       340        90.13       626
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 5.000
Non-Zero Weighted Average: 2.519

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Subsequent Periodic Cap (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          641     57,362,894      21.77     10.033       280        94.22       638
1.000                                     329     80,357,309      30.49      8.662       356        89.51       628
1.500                                     616    124,581,470      47.27      8.840       357        88.70       618
2.000                                       2      1,224,996       0.46      8.329       351        84.67       675
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,588    263,526,669     100.00      9.043       340        90.13       626
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.308

MONTHS TO NEXT RATE ADJUSTMENT



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Months to Next Rate Adjustment       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          641     57,362,894      21.77     10.033       280        94.22       638
4                                           1        268,513       0.10      7.990       352        90.00       608
14                                          2        338,545       0.13      6.741       350        89.00       596
15                                          2        905,513       0.34      8.797       351        82.07       691
16                                         10      3,177,901       1.21      8.042       352        87.54       639
17                                         11      3,762,141       1.43      8.263       353        90.30       608
18                                         20      5,357,511       2.03      8.649       354        87.35       630
19                                         44     11,498,498       4.36      8.375       355        89.85       632
20                                        119     30,377,983      11.53      8.608       356        89.18       622
21                                        186     42,114,669      15.98      8.779       357        88.81       625
22                                        245     53,344,125      20.24      8.865       358        89.35       629
23                                         44      9,906,073       3.76      8.453       359        90.33       636
28                                          1        190,785       0.07      7.875       352        85.00       649
29                                          1         67,233       0.03      8.940       353        90.00       657
30                                          4        705,571       0.27      8.472       354        87.55       607
31                                          9      1,738,639       0.66      8.976       355        89.49       614
32                                         24      4,835,192       1.83      8.553       356        87.81       623
33                                         91     14,046,713       5.33      9.166       357        89.55       596
34                                        118     21,452,671       8.14      9.125       358        88.02       601
35                                          8      1,088,928       0.41      9.022       359        84.59       594
56                                          1        125,744       0.05      9.400       356        86.90       605
57                                          2        294,402       0.11      9.223       357        92.24       690
58                                          1        157,439       0.06      8.570       358        89.97       627
59                                          3        408,984       0.16      8.491       359        83.88       703
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,588    263,526,669     100.00      9.043       340        90.13       626
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Properties                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

California                                 329     76,714,136     29.11       8.803       325        90.76       638
Florida                                    252     36,979,212     14.03       9.188       336        90.74       632
Illinois                                   139     21,868,218      8.30       9.238       344        89.42       617
New York                                    28      9,737,801      3.70       8.786       357        88.08       631
Massachusetts                               37      8,794,259      3.34       9.035       353        90.48       630
Arizona                                     48      8,349,667      3.17       8.809       345        89.23       616
Texas                                       91      7,493,288      2.84       9.178       340        91.12       622
Maryland                                    38      7,107,027      2.70       8.619       352        90.03       637
Pennsylvania                                59      6,657,228      2.53       9.103       357        88.93       603
Virginia                                    39      5,990,673      2.27       9.298       345        87.46       606
Nevada                                      34      5,919,385      2.25       8.573       334        91.25       643
Georgia                                     40      5,862,265      2.22       9.547       355        89.47       600
Michigan                                    54      5,555,082      2.11       9.567       351        90.14       604
New Jersey                                  18      5,350,019      2.03       8.720       357        88.92       637
Missouri                                    42      4,542,603      1.72       9.541       355        88.68       594
Other                                      340     46,605,807     17.69       9.254       349        90.06       616
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,588    263,526,669    100.00       9.043       340        90.13       626
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 44

OCCUPANCY



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Primary                                  1,391    229,224,693      86.98      9.019       338        90.21       620
Investment                                 178     30,211,009      11.46      9.183       357        89.26       663
Second Home                                 19      4,090,966       1.55      9.368       352        92.06       662
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,588    263,526,669     100.00      9.043       340        90.13       626
----------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined   Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Property Type                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Single Family Residence                  1,324    213,596,894    81.05        9.058       341        90.12       622
2-4 Family                                 107     22,477,297     8.53        9.183       340        89.03       651
Condo                                       95     14,003,169     5.31        9.077       332        91.16       637
Planned Unit Development                    62     13,449,308     5.10        8.549       339        91.01       640
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,588    263,526,669   100.00        9.043       340        90.13       626
----------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------

Refinance--Cashout         740    160,064,096     60.74       8.629       354        88.42      618
Purchase                   732     84,288,738     31.98       9.978       310        93.63      643
Refinance--Rate Term       116     19,173,835      7.28       8.394       352        89.02      621
------------------------------------------------------------------------------------------------------
Total:                   1,588    263,526,669    100.00       9.043       340        90.13      626
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation        770    125,286,827      47.54      9.475       332        90.34       638
Full Documentation          733    124,851,364      47.38      8.610       349        89.90       614
Limited Documentation        85     13,388,477       5.08      9.048       333        90.33       625
-------------------------------------------------------------------------------------------------------
Total:                    1,588    263,526,669     100.00      9.043       340        90.13       626
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                            % of
                                          Mortgage
                                          Pool by
                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                   of          Date         Date       Gross    Remaining   Combined    Average
                Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score     Loans     Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-----------------------------------------------------------------------------------------------

500--524             40      6,076,180       2.31      9.615       355        84.99       512
525--549             71     10,917,059       4.14      9.641       355        85.76       537
550--574            145     23,661,224       8.98      9.399       356        87.57       562
575--599            184     34,165,392      12.96      9.182       353        89.61       589
600--624            318     57,890,595      21.97      8.906       343        90.00       612
625--649            349     54,204,785      20.57      9.031       334        90.88       637
650--674            219     34,457,379      13.08      8.870       327        91.26       661
675--699            126     20,875,431       7.92      8.920       327        91.19       686
700--724             60     10,305,567       3.91      8.627       326        93.60       709
725--749             42      6,445,584       2.45      8.862       341        93.07       736
750--774             22      3,224,354       1.22      8.745       327        91.71       761
775--799              8        951,206       0.36      9.443       316        91.34       787
800 +                 4        351,912       0.13      9.070       269        96.63       808
-----------------------------------------------------------------------------------------------
Total:            1,588    263,526,669     100.00      9.043       340        90.13       626
-----------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET OVER 80 CLTV                                             1,588 records
                                                           Balance: $263,526,669
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM


                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted   Weighted    Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             485     75,799,375      28.76      9.275       345        90.46       629
6                               2        505,484       0.19     10.185       357        84.29       540
12                             58     16,881,144       6.41      8.841       349        88.63       626
24                            554    106,515,611      40.42      8.746       344        90.16       631
30                              4        758,282       0.29      9.701       357        90.22       620
36                            463     60,471,204      22.95      9.299       324        90.40       617
60                             22      2,595,568       0.98      9.415       349        83.95       552
---------------------------------------------------------------------------------------------------------
Total:                      1,588    263,526,669     100.00      9.043       340        90.13       626
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
              of          Date         Date       Gross    Remaining   Combined    Average
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------

1st Lien    1,129     234,651,247      89.04      8.739       356        88.94       622
2nd Lien      459      28,875,421      10.96     11.513       208        99.82       656
------------------------------------------------------------------------------------------
Total:      1,588     263,526,669     100.00      9.043       340        90.13       626
------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest     Term      Original     FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

0                      1,481    226,827,169      86.07      9.191       337        90.40       622
60                       106     36,542,061      13.87      8.131       356        88.45       647
120                        1        157,439       0.06      8.570       358        89.97       627
----------------------------------------------------------------------------------------------------
Total:                 1,588    263,526,669     100.00      9.043       340        90.13       626
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
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not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
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recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
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The value of and income from investments may vary because of changes in interest
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exercise of options or other rights in securities/instruments transactions. Past
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future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
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Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
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In the UK, this communication is directed in the UK to those persons who are
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This material may not be sold or redistributed without the prior written consent
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--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
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IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
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PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
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ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
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GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                   ALL RECORDS
                                  4,207 RECORDS
                              BALANCE: 834,934,301

TABLE OF CONTENTS



1. Prepayment Penalty Term


1. PREPAYMENT PENALTY TERM



                                                   % OF
                                                 MORTGAGE
                                                 POOL BY
                                    AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                          NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE    AVERAGE  WEIGHTED
                            OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                         MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
PREPAYMENT PENALTY TERM    LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-----------------------  --------  -----------  ---------  --------  ---------  --------  --------

0                           1,199  216,979,403      25.99     8.805        351     80.89       624
6                              15    3,489,711       0.42     8.529        357     77.65       639
12                            237   68,168,035       8.16     8.285        354     78.59       646
24                          1,682  372,728,763      44.64     8.235        353     80.10       628
30                              7    1,406,947       0.17     9.452        357     82.36       609
36                          1,007  164,152,599      19.66     8.550        344     80.08       619
48                              1      145,964       0.02     8.500        359     36.50       529
60                             59    7,862,880       0.94     8.849        353     76.52       580
                            -----  -----------     ------     -----        ---     -----       ---
TOTAL:                      4,207  834,934,301     100.00     8.458        351     80.13       626
                            =====  ===========     ======     =====        ===     =====       ===


This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

   IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
                                   SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
securities, and the asset pools backing them, are subject to modification or
revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
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characteristics described in these materials. Our obligation to sell securities
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is not satisfied in any material respect, we will notify you, and neither the
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there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
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     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,871
Aggregate Principal Balance ($): 357,138,841
Weighted Average Current Mortgage Rate (%): 8.464
Non-Zero Weighted Average Margin (%): 6.297
Non-Zero Weighted Average Maximum Rate (%): 15.019
Weighted Average Stated Original Term (months): 349
Weighted Average Stated Remaining Term (months): 346
Weighted Average Combined Original LTV (%): 82.85
% First Liens: 92.83
% Owner Occupied: 91.51
% Purchase: 100.00
% Full Doc: 29.88
Non-Zero Weighted Average Credit Score: 656

ORIGINATOR



                                                              % of
                                                            Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date         Date        Gross    Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Accredited                             178     40,429,115      11.32      8.168       357        79.69      663
Chapel                                  10      2,375,078       0.67      7.623       348        80.40      655
Encore                                  85     24,986,131       7.00      8.364       355        82.25      659
First Banc                              42      7,385,181       2.07      8.210       338        82.80      647
First Horizon                          116     17,462,297       4.89      9.369       357        86.40      631
First NLC                              862    143,685,126      40.23      8.559       341        83.05      654
Flex Point                               1        194,413       0.05      7.900       358        80.00      724
Funding America                         36      3,862,193       1.08      8.880       355        85.52      646
Lenders Direct                          28      3,896,537       1.09      8.758       316        85.25      655
Lime Financial                          35      7,489,991       2.10      8.263       336        83.52      652
Mandalay                                25      3,379,025       0.95      9.035       280        88.88      692
Master Financial                       143     29,667,783       8.31      8.718       324        85.90      657
Maxim                                   12        916,672       0.26      9.658       316        87.28      615
New Century                            272     65,970,544      18.47      8.098       358        81.60      659
Rose Mortgage                           26      5,438,755       1.52      8.676       357        82.92      669
------------------------------------------------------------------------------------------------------------------
Total:                               1,871    357,138,841     100.00      8.464       346        82.85      656
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                 % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date        Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Product with IO term                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                             5         229,047       0.06     11.203       175        97.32      626
Fixed--20 Year                             4         139,084       0.04     11.864       236        99.99      670
Fixed--30 Year                           119       9,643,815       2.70      9.670       356        86.90      649
Balloon--15/30                           324      21,539,738       6.03     11.505       176        99.94      657
Balloon--30/40                            13       3,532,692       0.99      8.272       357        82.09      657
ARM--2 Year/6 Month Balloon 30/40        337      93,287,730      26.12      8.084       357        81.15      658
ARM--2 Year/6 Month Balloon 30/50          1         203,935       0.06      8.450       357        80.00      625
ARM--3 Year/6 Month Balloon 30/40         70      15,186,959       4.25      8.471       358        80.68      643
ARM--1 Year/6 Month                        1         268,513       0.08      7.990       352        90.00      608
ARM--2 Year/6 Month                      534      96,698,667      27.08      8.596       357        83.04      647
ARM--3 Year/6 Month                      140      20,851,175       5.84      8.876       357        81.88      630
ARM--5 Year/6 Month                        2         350,156       0.10      7.495       358        80.00      685
Dual Amort--10/40--2 Year/6 Month          1         135,481       0.04      6.700       351        80.00      657
Interest Only ARM--2 Year/6                1         210,400       0.06      8.250       358        80.00      628
Month--24 mo. IO term
Interest Only ARM--3 Year/6                1         228,000       0.06      7.475       358        80.00      666
Month--36 mo. IO term
Interest Only Fixed--30 Year--60           3         544,800       0.15      8.218       357        80.00      663
mo. IO term
Interest Only ARM--2 Year/6              270      82,694,518      23.15      7.784       356        80.59      669
Month--60 mo. IO term
Interest Only ARM--3 Year/6               41      10,615,446       2.97      7.923       357        80.42      682
Month--60 mo. IO term
Interest Only ARM--5 Year/6                1         180,000       0.05      7.500       357        80.00      700
Month--60 mo. IO term
Interest Only ARM--2 Year/6                1         186,686       0.05      8.000       358        80.00      641
Month--120 mo. IO term
Interest Only ARM--3 Year/6                1          92,000       0.03      7.250       359        80.00      652
Month--120 mo. IO term
Interest Only ARM--5 Year/6                1         320,000       0.09      8.000       357        80.00      656
Month--120 mo. IO term
---------------------------------------------------------------------------------------------------------------------
Total:                                 1,871     357,138,841     100.00      8.464       346        82.85      656
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average   Average      Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        266,038       0.07      5.925        358       80.00      707
6.000--6.999                             94     27,700,151       7.76      6.781        356       80.03      679
7.000--7.999                            532    140,239,086      39.27      7.624        357       79.93      668
8.000--8.999                            447    100,315,112      28.09      8.498        357       81.41      651
9.000--9.999                            296     47,534,950      13.31      9.469        353       85.47      639
10.000--10.999                          201     20,744,772       5.81     10.528        309       91.81      621
11.000--11.999                          179     13,358,205       3.74     11.582        217       98.43      637
12.000--12.999                           86      5,384,717       1.51     12.447        235       98.96      637
13.000--13.999                           33      1,487,477       0.42     13.378        210       99.68      626
14.000--14.999                            2        108,333       0.03     14.151        257      100.00      637
-------------------------------------------------------------------------------------------------------------------
Total:                                1,871    357,138,841     100.00      8.464        346       82.85      656
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 14.240
Weighted Average: 8.464

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of         Date          Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal     Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

1--25,000                                29        634,698       0.18     10.992       270        99.80      649
25,001--50,000                          163      6,322,346       1.77     11.491       234        97.39      642
50,001--75,000                          209     13,091,225       3.67     10.529       266        92.93      640
75,001--100,000                         182     15,971,047       4.47      9.839       307        88.68      636
100,001--125,000                        177     19,857,864       5.56      9.429       324        86.37      636
125,001--150,000                        155     21,294,960       5.96      8.818       345        83.28      643
150,001--175,000                        123     19,878,570       5.57      8.626       347        82.84      644
175,001--200,000                        133     24,973,132       6.99      8.432       355        82.05      655
200,001--225,000                        115     24,442,257       6.84      8.357       357        81.93      656
225,001--250,000                         96     22,695,254       6.35      8.241       357        81.72      655
250,001--275,000                         77     20,147,578       5.64      8.051       357        81.68      653
275,001--300,000                         60     17,155,123       4.80      8.029       357        81.26      661
300,001--325,000                         49     15,298,619       4.28      7.903       357        80.82      656
325,001--350,000                         40     13,475,774       3.77      8.087       357        82.14      661
350,001--375,000                         38     13,738,890       3.85      7.936       357        80.78      673
375,001--400,000                         49     19,052,282       5.33      7.988       357        80.86      666
400,001--425,000                         30     12,433,046       3.48      7.957       356        80.33      661
425,001--450,000                         29     12,728,508       3.56      7.725       357        80.69      648
450,001--475,000                         22     10,175,304       2.85      8.187       357        82.07      682
475,001--500,000                         29     14,243,477       3.99      7.847       356        78.94      665
500,001--750,000                         61     35,364,322       9.90      7.953       357        81.65      671
750,001--1,000,000                        5      4,164,564       1.17      8.447       355        78.83      687
-------------------------------------------------------------------------------------------------------------------
Total:                                1,871    357,138,841     100.00      8.464       346        82.85      656
-------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 988,617
Average: 190,881

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                   of         Date          Date      Gross     Remaining   Combined   Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------

180                                329      21,768,785       6.10     11.502       176        99.91      657
240                                  4         139,084       0.04     11.864       236        99.99      670
360                              1,538     335,230,972      93.87      8.265       357        81.73      656
---------------------------------------------------------------------------------------------------------------
Total:                           1,871     357,138,841     100.00      8.464       346        82.85      656
---------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 349

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
(months)                           Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

169--180                              329     21,768,785       6.10     11.502       176        99.91       657
229--240                                4        139,084       0.04     11.864       236        99.99       670
337--348                                1         73,261       0.02     10.240       348        99.97       615
349--360                            1,537    335,157,712      93.85      8.265       357        81.73       656
-----------------------------------------------------------------------------------------------------------------
Total:                              1,871    357,138,841     100.00      8.464       346        82.85       656
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 346

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

15.01--20.00                           1         44,732       0.01      7.600       355        18.33       526
30.01--35.00                           1        165,809       0.05      8.765       358        34.95       621
35.01--40.00                           1         49,824       0.01      8.750       354        40.00       513
40.01--45.00                           1        134,649       0.04      6.740       357        40.30       647
45.01--50.00                           1        199,680       0.06      7.140       358        47.62       751
50.01--55.00                           4        752,811       0.21      8.798       358        52.59       597
55.01--60.00                           1        233,539       0.07      8.140       357        60.00       564
60.01--65.00                           7      1,066,182       0.30      8.786       357        63.01       587
65.01--70.00                           8      2,313,980       0.65      7.726       357        68.69       654
70.01--75.00                          16      4,187,949       1.17      8.450       357        74.08       635
75.01--80.00                       1,098    263,700,949      73.84      7.986       357        79.95       661
80.01--85.00                          72     12,669,776       3.55      9.147       356        84.72       608
85.01--90.00                         144     26,316,289       7.37      9.186       357        89.99       636
90.01--95.00                          84     15,474,492       4.33      9.502       355        94.87       656
95.01--100.00                        432     29,828,181       8.35     11.277       226        99.98       656
----------------------------------------------------------------------------------------------------------------
Total:                             1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------------


Minimum: 18.33
Maximum: 100.00
Weighted Average: 82.85

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 468     35,629,176       9.98     10.637       246        94.32      655
<= 3.500                          13      2,601,816       0.73      7.671       358        78.48      670
3.501--4.000                      10      2,597,670       0.73      7.189       357        80.00      696
4.001--4.500                      17      4,770,140       1.34      7.523       357        80.00      692
4.501--5.000                      73     21,001,722       5.88      7.983       357        81.01      666
5.001--5.500                     138     40,662,696      11.39      8.210       356        81.95      664
5.501--6.000                     238     49,402,085      13.83      8.166       357        81.96      657
6.001--6.500                     350     83,083,064      23.26      8.084       357        81.38      655
6.501--7.000                     155     34,753,104       9.73      7.917       357        81.19      663
7.001--7.500                     342     66,418,605      18.60      8.591       357        81.73      644
7.501--8.000                      43     10,708,333       3.00      8.898       357        82.31      634
8.001--8.500                      14      3,417,780       0.96      9.215       357        80.23      630
8.501--9.000                       5      1,428,141       0.40      9.325       357        90.99      640
9.001--9.500                       4        608,535       0.17     10.003       357        81.06      607
9.501--10.000                      1         55,974       0.02     12.999       358        80.00      593
------------------------------------------------------------------------------------------------------------
Total:                         1,871    357,138,841     100.00      8.464       346        82.85      656
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.999
Non-Zero Weighted Average: 6.297

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Minimum Mortgage Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          468     35,629,176       9.98     10.637        246       94.32       655
5.501--6.000                                4      1,288,866       0.36      7.686        353       78.87       662
6.001--6.500                               15      4,261,633       1.19      6.501        356       81.45       693
6.501--7.000                               81     23,583,816       6.60      6.871        356       80.10       667
7.001--7.500                              166     45,527,883      12.75      7.302        357       79.95       671
7.501--8.000                              352     91,209,532      25.54      7.804        357       79.95       667
8.001--8.500                              218     50,741,290      14.21      8.266        357       80.50       654
8.501--9.000                              210     46,266,163      12.95      8.789        357       82.77       649
9.001--9.500                              130     26,592,312       7.45      9.270        357       83.80       645
9.501--10.000                             110     16,638,710       4.66      9.798        357       86.82       628
10.001--10.500                             52      7,222,815       2.02     10.231        357       88.67       597
10.501--11.000                             47      6,244,782       1.75     10.800        357       89.16       589
11.001--11.500                              7        791,059       0.22     11.192        356       89.61       551
11.501--12.000                              4        524,605       0.15     11.819        357       87.17       562
12.001--12.500                              2        136,225       0.04     12.292        358       90.58       591
12.501--13.000                              5        479,972       0.13     12.870        358       91.39       666
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,871    357,138,841     100.00      8.464        346       82.85       656
---------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.214

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Maximum Mortgage Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                          468     35,629,176       9.98     10.637       246        94.32       655
<= 12.500                                  11      3,573,983       1.00      7.010       355        80.33       701
12.501--13.000                             32     10,102,745       2.83      7.438       356        80.99       673
13.001--13.500                             35     10,632,373       2.98      7.414       357        81.40       667
13.501--14.000                             96     27,112,081       7.59      7.278       356        80.26       660
14.001--14.500                            169     45,895,325      12.85      7.454       357        80.19       668
14.501--15.000                            338     85,709,089      24.00      7.887       357        80.14       664
15.001--15.500                            206     45,996,863      12.88      8.311       357        80.29       652
15.501--16.000                            200     41,300,492      11.56      8.832       357        82.88       650
16.001--16.500                            122     23,845,807       6.68      9.304       357        84.25       647
16.501--17.000                             95     13,864,423       3.88      9.835       357        86.56       627
17.001--17.500                             41      6,007,931       1.68     10.226       358        89.15       596
17.501--18.000                             41      5,681,563       1.59     10.811       358        89.33       590
18.001--18.500                              7        791,059       0.22     11.192       356        89.61       551
18.501--19.000                              3        379,735       0.11     11.807       357        95.84       574
19.001--19.500                              2        136,225       0.04     12.292       358        90.58       591
19.501--20.000                              5        479,972       0.13     12.870       358        91.39       666
---------------------------------------------------------------------------------------------------------------------
Total:                                  1,871    357,138,841     100.00      8.464       346        82.85       656
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

Non-Zero Minimum: 11.700
Maximum: 19.999
Non-Zero Weighted Average: 15.019

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               468     35,629,176       9.98     10.637       246        94.32       655
1.500                          221     52,111,711      14.59      8.149       357        79.99       657
2.000                          302     78,619,922      22.01      8.171       357        81.86       661
3.000                          877    190,179,346      53.25      8.266       357        81.90       653
5.000                            1        320,000       0.09      8.000       357        80.00       656
6.000                            2        278,686       0.08      7.752       358        80.00       645
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.517

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  468     35,629,176       9.98     10.637       246        94.32       655
1.000                             395     92,690,848      25.95      8.353       356        82.82       651
1.500                           1,000    226,086,154      63.30      8.172       357        81.08       657
2.000                               8      2,732,662       0.77      7.978       352        80.45       697
-------------------------------------------------------------------------------------------------------------
Total:                          1,871    357,138,841     100.00      8.464       346        82.85       656
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     468     35,629,176       9.98     10.637       246        94.32       655
4                                      1        268,513       0.08      7.990       352        90.00       608
13                                     1        148,392       0.04      7.715       349        80.00       688
14                                     8      2,693,784       0.75      7.056       350        80.00       706
15                                    16      4,637,738       1.30      7.812       351        79.17       656
16                                    15      2,649,859       0.74      8.034       352        82.49       634
17                                    27      7,189,737       2.01      7.849       353        80.59       654
18                                    35      7,569,738       2.12      7.997       354        81.46       641
19                                    75     18,425,031       5.16      8.110       355        81.99       655
20                                   157     40,919,696      11.46      8.199       356        81.57       655
21                                   273     66,683,819      18.67      8.217       357        81.69       655
22                                   484    110,665,263      30.99      8.211       358        81.72       660
23                                    54     11,834,359       3.31      8.340       359        82.39       666
27                                     1        620,450       0.17      8.750       351        80.00       629
28                                     1         91,129       0.03      9.250       352        80.00       628
30                                     2        205,762       0.06      8.088       354        85.67       625
31                                     7      1,414,958       0.40      8.720       355        84.82       603
32                                    23      4,013,813       1.12      8.844       356        82.20       639
33                                    73     13,492,157       3.78      8.486       357        82.13       646
34                                   139     25,962,440       7.27      8.467       358        80.52       651
35                                     7      1,172,870       0.33      8.627       359        75.69       621
57                                     2        500,000       0.14      7.820       357        80.00       672
58                                     2        350,156       0.10      7.495       358        80.00       685
----------------------------------------------------------------------------------------------------------------
Total:                             1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 58
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Geographic Distribution      of          Date         Date       Gross    Remaining   Combined   Average
      of Mortgaged        Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Properties           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

California                    525    143,005,704      40.04      8.256       340        82.53       664
Florida                       337     56,184,675      15.73      8.616       344        83.71       654
Illinois                      120     20,081,689       5.62      8.612       346        82.62       659
New York                       61     19,558,188       5.48      7.997       357        81.25       686
Arizona                        73     11,951,433       3.35      8.400       348        81.38       650
Texas                         114     10,798,579       3.02      8.795       352        84.07       644
Nevada                         50     10,079,536       2.82      8.166       346        83.38       650
Virginia                       29      5,670,587       1.59      8.731       345        82.65       634
Georgia                        35      5,232,144       1.47      8.678       357        82.98       645
Rhode Island                   26      4,985,087       1.40      8.800       355        83.36       646
Pennsylvania                   45      4,911,047       1.38      8.873       357        84.88       634
Massachusetts                  25      4,871,915       1.36      8.488       351        82.46       643
Maryland                       26      4,870,884       1.36      8.489       350        82.34       644
Michigan                       52      4,849,320       1.36      9.304       350        83.98       618
Connecticut                    28      4,759,966       1.33      8.652       353        81.33       648
Other                         325     45,328,090      12.69      8.814       352        83.41       638
--------------------------------------------------------------------------------------------------------
Total:                      1,871    357,138,841     100.00      8.464       346        82.85       656
--------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 46

OCCUPANCY



                                                      % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Occupancy            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

Primary                     1,699    326,818,222      91.51      8.397       345        82.45       655
Investment                    131     21,511,917       6.02      9.313       357        88.60       661
Second Home                    41      8,808,702       2.47      8.865       355        83.54       669
---------------------------------------------------------------------------------------------------------
Total:                      1,871    357,138,841     100.00      8.464       346        82.85       656
---------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Property Type           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      1,435    261,279,826      73.16      8.483       345        83.08       653
2-4 Family                     141     36,508,135      10.22      8.443       347        82.19       677
Condo                          177     33,304,474       9.33      8.481       347        82.64       656
Planned Unit Development       118     26,046,406       7.29      8.283       349        81.70       651
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET PURCHASE                                                 1,871 records
                                                           Balance: $357,138,841
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Purchase                     1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Documentation Level        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Stated Documentation         1,163    233,880,805      65.49      8.589       345        82.64       667
Full Documentation             620    106,698,677      29.88      8.207       349        83.11       634
Limited Documentation           88     16,559,358       4.64      8.352       339        84.05       639
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                      % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Credit Score           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

500--524                        28      2,836,387       0.79     10.304       355        79.78       515
525--549                        36      4,456,848       1.25      9.969       355        80.60       536
550--574                        60      8,291,016       2.32      9.649       355        85.30       560
575--599                       122     17,713,588       4.96      9.133       351        85.51       589
600--624                       316     59,598,907      16.69      8.534       345        82.36       613
625--649                       464     84,524,454      23.67      8.577       343        83.14       636
650--674                       331     65,858,199      18.44      8.327       343        82.48       661
675--699                       220     46,971,296      13.15      8.252       346        82.62       686
700--724                       133     29,120,549       8.15      8.120       346        83.23       711
725--749                        85     18,524,265       5.19      8.120       352        83.20       735
750--774                        49     11,866,892       3.32      7.974       349        81.48       760
775--799                        23      6,725,420       1.88      7.628       351        80.92       783
800 +                            4        651,020       0.18      7.531       305        86.99       809
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 656

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10





                                                       % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term      Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
----------------------------------------------------------------------------------------------------------

0                              448     79,066,200      22.14      8.794       348        83.51       661
6                                6      1,932,196       0.54      7.890       357        77.95       688
12                             124     35,260,831       9.87      8.325       354        81.33       670
24                             867    182,957,567      51.23      8.193       350        82.47       653
30                               3        554,429       0.16      9.134       358        84.84       643
36                             416     56,261,893      15.75      8.969       325        84.31       647
60                               7      1,105,726       0.31      8.968       358        79.48       602
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                       % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
          Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position             Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
----------------------------------------------------------------------------------------------------------

1st Lien                     1,465    331,517,580      92.83      8.228       357        81.53       656
2nd Lien                       406     25,621,261       7.17     11.515       203        99.94       657
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                       % of
                                                    Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

0                            1,551    262,066,992      73.38      8.704       342        83.68       650
24                               1        210,400       0.06      8.250       358        80.00       628
36                               1        228,000       0.06      7.475       358        80.00       666
60                             315     94,034,763      26.33      7.801       356        80.56       671
120                              3        598,686       0.17      7.885       358        80.00       651
----------------------------------------------------------------------------------------------------------
Total:                       1,871    357,138,841     100.00      8.464       346        82.85       656
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SELLER CREDIT GRADES                                     4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

ACCREDITED CREDIT GRADE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
Accredited Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score       DTI
--------------------------------------------------------------------------------------------------------------------

A                            230      41,715,143      41.09      8.758       356        77.72      591        40.96
A-                            43       7,036,623       6.93      8.860       355        75.97      577        43.36
A+                           168      39,675,389      39.08      7.912       357        78.13      683        43.09
B                             49       7,506,175       7.39      9.194       357        74.40      551        40.18
C                             25       4,930,828       4.86      9.070       357        73.52      551        40.99
C-                             4         664,775       0.65      9.790       358        71.88      528        40.85
--------------------------------------------------------------------------------------------------------------------
Total:                       519     101,528,933     100.00      8.489       356        77.27      621        41.90
--------------------------------------------------------------------------------------------------------------------


CHAPEL CREDIT GRADE



                                                  % of
                                                Mortgage
                                                Pool by
                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                         of         Date         Date        Gross    Remaining   Combined    Average    Average
                      Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
Chapel Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score       DTI
----------------------------------------------------------------------------------------------------------------

A                        16       3,503,033       87.71      7.659       349        78.60       621       44.37
AA                        1         227,475        5.70      7.450       353        80.00       692       44.66
B                         2         263,286        6.59      9.358       353        55.61       507       45.96
----------------------------------------------------------------------------------------------------------------
Total:                   19       3,993,794      100.00      7.759       349        77.17       617       44.49
----------------------------------------------------------------------------------------------------------------


ENCORE CREDIT GRADE



                                                  % of
                                                Mortgage
                                                Pool by
                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                         of         Date         Date        Gross    Remaining   Combined    Average    Average
                      Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
Encore Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score       DTI
----------------------------------------------------------------------------------------------------------------

AA                       201      56,951,391      69.59      7.998       355        80.36       644       42.72
AA 80/20                   2         103,978       0.13     11.448       188       100.00       629       43.47
A+                        78      17,243,202      21.07      8.580       356        79.48       595       43.81
B                         19       4,309,032       5.27      9.301       356        69.14       582       41.96
C                         18       3,052,285       3.73      9.905       356        61.47       566       39.17
C-                         1         174,711       0.21     10.390       356        68.36       556       41.83
----------------------------------------------------------------------------------------------------------------
Total:                   319      81,834,599     100.00      8.270       355        78.88       628       42.77
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SELLER CREDIT GRADES                                     4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

FIRST BANC CREDIT GRADE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
First Banc Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score       DTI
--------------------------------------------------------------------------------------------------------------------

                             31        5,194,628     41.29       8.501       339        78.09       585       45.57
A                             2          478,801      3.81       7.970       353        79.35       643       39.80
A-                            1          594,300      4.72       7.990       356        70.00       609       38.44
A+                           32        5,885,435     46.78       8.031       340        83.59       649       41.53
B                             1          309,386      2.46      10.600       355        52.54       501       38.93
C                             1          117,203      0.93       8.950       354        70.00       506       16.80
--------------------------------------------------------------------------------------------------------------------
Total:                       68       12,579,754    100.00       8.293       341        79.62       615       42.62
--------------------------------------------------------------------------------------------------------------------


FIRST HORIZON CREDIT GRADE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                                of         Date         Date        Gross    Remaining   Combined    Average    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
First Horizon Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score       DTI
-----------------------------------------------------------------------------------------------------------------------

Ax                                8       1,588,238      4.93       9.610       358        78.32       616       45.07
AX                               22       3,162,812      9.83       8.899       358        83.16       604       37.05
A-                               10       1,166,087      3.62       9.471       358        76.70       552       38.50
A+                              150      24,929,033     77.46       9.106       356        85.26       632       40.58
B                                 7         926,611      2.88       9.510       358        78.39       557       37.55
C                                 4         410,789      1.28      10.654       357        72.89       579       41.34
-----------------------------------------------------------------------------------------------------------------------
Total:                          201      32,183,570    100.00       9.156       357        84.05       623       40.28
-----------------------------------------------------------------------------------------------------------------------


FIRST NLC CREDIT GRADE



                                                     % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                            of         Date          Date       Gross    Remaining   Combined    Average    Average
                         Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
First NLC Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score       DTI
-------------------------------------------------------------------------------------------------------------------

                               1         38,892       0.01     10.625       353       100.00       683       45.48
A                            436     84,080,706      25.81      7.958       346        81.68       693       43.03
A-                           634    107,542,565      33.02      8.435       343        82.08       639       44.39
B                            205     37,193,583      11.42      8.726       355        82.03       587       42.93
B-                           175     28,495,288       8.75      8.930       357        78.41       563       42.83
B+                           200     36,063,252      11.07      8.472       349        81.72       609       42.90
C                             68     11,443,690       3.51      9.618       357        72.87       512       45.14
C+                           126     20,854,346       6.40      9.437       357        74.36       537       43.59
-------------------------------------------------------------------------------------------------------------------
Total:                     1,845    325,712,321     100.00      8.498       348        80.80       626       43.55
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SELLER CREDIT GRADES                                     4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

FLEX POINT CREDIT GRADE



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
Flex Point Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
--------------------------------------------------------------------------------------------------------------------

                              1          194,413       3.99      7.900       358        80.00       724       34.88
A                             6        1,344,677      27.62      9.871       356        71.64       575       43.02
AA                            1          139,247       2.86      7.420       353        46.67       548       35.88
A+                            6        1,730,267      35.54      7.926       357        77.17       644       44.74
B                             4          961,756      19.76      9.111       357        60.31       539       49.96
C                             2          271,235       5.57      9.005       355        61.54       563       25.56
C-                            1          226,380       4.65     11.250       354        65.00       594       31.42
--------------------------------------------------------------------------------------------------------------------
Total:                       21        4,867,974     100.00      8.896       356        70.12       598       42.96
--------------------------------------------------------------------------------------------------------------------


FUNDING AMERICA CREDIT GRADE



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Average
Funding America Credit    Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
        Grade               Loans    Balance ($ )   Balance    Rate (%)    (months)      LTV       Score       DTI
--------------------------------------------------------------------------------------------------------------------

A                             4         331,887        5.56      9.519       355        95.60       615       42.47
A+                           44       5,506,921       92.23      8.701       350        80.73       634       40.91
C                             1         131,794        2.21     10.650       356        75.00       538       42.80
--------------------------------------------------------------------------------------------------------------------
Total:                       49       5,970,602      100.00      8.789       350        81.43       631       41.04
--------------------------------------------------------------------------------------------------------------------


LENDERS DIRECT GRADE



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
Lenders Direct Grade        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
--------------------------------------------------------------------------------------------------------------------

Tier 1                       38       6,082,442       69.41      8.258       320        81.36       654       43.85
Tier 2                        5       1,529,042       17.45      8.853       342        84.06       570       47.29
Tier 3                        2         210,259        2.40      8.836       354        73.89       554       24.69
Tier 4                        5         941,414       10.74      9.279       354        68.04       541       41.60
--------------------------------------------------------------------------------------------------------------------
Total:                       50       8,763,158      100.00      8.485       328        80.22       624       43.75
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SELLER CREDIT GRADES                                     4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

LIME FINANCIAL CREDIT GRADE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Average
Lime Financial Credit   Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
       Grade              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
-----------------------------------------------------------------------------------------------------------------

AA                         53       11,873,289      93.39      8.360       341        84.25       644       43.74
A-                          1          203,016       1.60      8.925       357        85.00       616       49.85
B-                          2          388,294       3.05      8.201       357        88.47       573       46.17
C                           2          249,691       1.96      9.818       357        88.13       568       40.22
------------------------------------------------------------------------------------------------------------------
Total:                     58       12,714,290     100.00      8.393       342        84.47       640       43.84
-----------------------------------------------------------------------------------------------------------------


MANDALAY CREDIT GRADE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
Mandalay Credit Grade     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
------------------------------------------------------------------------------------------------------------------

                            1         106,368        1.96      7.725       352        80.00       580       47.60
A1                         33       5,306,841       98.04      8.651       304        85.38       669       45.19
------------------------------------------------------------------------------------------------------------------
Total:                     34       5,413,209      100.00      8.633       305        85.28       667       45.24
------------------------------------------------------------------------------------------------------------------


MASTER FINANCIAL CREDIT GRADE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Average
Master Financial        Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
  Credit Grade            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
------------------------------------------------------------------------------------------------------------------

A                           16       5,104,294     10.25       8.515       352        83.28       620       42.87
AA                           1         144,400      0.29       7.950       354       100.00       753       23.98
A-                           3       1,102,232      2.21       8.930       355        75.40       520       45.14
A+                         184      41,961,894     84.30       8.451       331        84.75       646       42.03
B                            5         785,210      1.58       9.711       355        72.57       534       45.45
C                            1         168,607      0.34       8.750       356        47.61       629       36.12
C+                           2         510,425      1.03      10.189       357        70.00       528       32.73
------------------------------------------------------------------------------------------------------------------
Total:                     212      49,777,061    100.00       8.506       335        83.97       638       42.07
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SELLER CREDIT GRADES                                     4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

NEW CENTURY CREDIT GRADE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average    Average
New Century Credit      Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
     Grade                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
------------------------------------------------------------------------------------------------------------------

AA                         381      90,479,097      66.02      8.138       358        81.29       633       42.83
AAA                         66      16,566,063      12.09      7.798       358        81.31       708       41.61
A-                          26       6,162,125       4.50      8.464       358        78.51       584       43.94
A+                          46      11,611,597       8.47      8.350       357        80.03       613       40.36
B                           26       5,358,976       3.91      9.381       358        70.93       570       38.21
C                           40       6,374,799       4.65      9.615       358        69.61       547       40.40
C-                           3         503,629       0.37     11.320       358        58.22       526       42.05
------------------------------------------------------------------------------------------------------------------
Total:                     588     137,056,286     100.00      8.259       358        80.03       631       42.23
------------------------------------------------------------------------------------------------------------------


QUICK LOAN CREDIT GRADE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Average
Quick Loan Credit       Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
     Grade                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
------------------------------------------------------------------------------------------------------------------

A                           6       1,446,528       17.04      8.264       357        63.06       565       38.92
AA                         15       4,514,345       53.19      7.885       356        77.59       619       41.41
A-                          3         480,117        5.66      7.836       356        67.54       526       45.11
B                           4         820,501        9.67      8.958       357        68.67       538       46.09
C                           4       1,044,742       12.31      8.832       356        69.01       547       44.78
C-                          1         181,577        2.14      8.750       356        70.00       593       51.86
------------------------------------------------------------------------------------------------------------------
Total:                     33       8,487,809      100.00      8.186       356        72.46       588       42.28
------------------------------------------------------------------------------------------------------------------


ROSE MORTGAGE CREDIT GRADE



                                                   % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Weighted
                           of          Date        Date        Gross    Remaining   Combined    Average    Average
Rose Mortgage Credit    Mortgage    Principal    Principal   Interest      Term     Original     FICO       Back
       Grade              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score       DTI
------------------------------------------------------------------------------------------------------------------

A                           15       3,775,539       8.92      8.404       348        77.02       593       44.35
AA+                          9       2,237,814       5.29      8.034       359        86.01       659       45.92
A-                           7       2,067,456       4.89      9.389       357        76.37       565       45.44
A+                         103      24,966,531      59.02      8.145       356        79.79       635       41.70
B                           17       4,091,769       9.67      8.892       357        76.77       560       45.74
C                           15       3,286,615       7.77      9.844       358        70.30       570       45.03
D                           10       1,877,880       4.44     10.593       357        62.85       560       41.63
------------------------------------------------------------------------------------------------------------------
Total:                     176      42,303,604     100.00      8.536       356        77.92       613       43.01
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,217
Aggregate Principal Balance ($): 289,707,200
Weighted Average Current Mortgage Rate (%): 8.011
Non-Zero Weighted Average Margin (%): 6.278
Non-Zero Weighted Average Maximum Rate (%): 14.830
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 100.00
% Owner Occupied: 97.54
% Purchase: 81.61
% Full Doc: 32.04
Non-Zero Weighted Average Credit Score: 658

ORIGINATOR



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Accredited                            173     40,206,238      13.88      8.062        357       79.63       665
Chapel                                 12      2,761,637       0.95      7.434        351       80.00       650
Encore                                 63     21,117,668       7.29      8.022        356       80.30       673
First Banc                             20      4,265,418       1.47      7.651        354       80.16       631
First Horizon                          46      8,083,511       2.79      8.622        358       80.28       647
First NLC                             550    122,127,821      42.16      8.076        357       80.23       654
Funding America                        10      1,766,094       0.61      8.079        354       79.82       643
Lenders Direct                         12      3,009,489       1.04      7.771        354       79.52       655
Lime Financial                         19      5,390,957       1.86      7.665        355       80.00       652
Mandalay                                7      1,551,888       0.54      7.633        354       80.00       638
Master Financial                       57     17,449,800       6.02      7.984        355       80.04       657
Maxim                                   3        336,357       0.12      8.057        357       80.00       649
New Century                           234     58,284,315      20.12      7.834        358       80.19       660
Rose Mortgage                          11      3,356,006       1.16      8.519        357       81.41       656
----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011        357       80.13       658
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                            1         99,889       0.03      7.600       177        80.00       692
Fixed--20 Year                            1         64,343       0.02      7.390       237        71.10       661
Fixed--30 Year                           38      5,169,556       1.78      8.253       357        77.62       634
Balloon--30/40                           11      2,815,920       0.97      7.988       357        80.76       657
ARM--2 Year/6 Month Balloon 30/40       315     87,890,156      30.34      7.936       357        80.07       661
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.07      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40        63     14,585,050       5.03      8.088       357        80.10       656
ARM--2 Year/6 Month                     356     65,745,338      22.69      8.256       357        80.41       649
ARM--3 Year/6 Month                     109     16,822,485       5.81      8.714       357        81.21       633
ARM--5 Year/6 Month                       2        529,701       0.18      8.402       356        76.47       587
Dual Amort--10/40--2 Year/6 Month         1        135,481       0.05      6.700       351        80.00       657
Interest Only ARM--2 Year/6
Month--24 mo. IO term                     1        210,400       0.07      8.250       358        80.00       628
Interest Only ARM--3 Year/6
Month--36 mo. IO term                     2        444,000       0.15      7.937       358        80.00       638
Interest Only Fixed--30 Year--60
mo. IO term                               5      1,527,800       0.53      8.103       357        81.98       663
Interest Only ARM--2 Year/6
Month--60 mo. IO term                   261     80,869,314      27.91      7.752       356        79.88       666
Interest Only ARM--3 Year/6
Month--60 mo. IO term                    47     12,135,146       4.19      7.776       357        80.20       676
Interest Only ARM--5 Year/6
Month--60 mo. IO term                     1        180,000       0.06      7.500       357        80.00       700
Interest Only ARM--2 Year/6
Month--120 mo. IO term                    1        186,686       0.06      8.000       358        80.00       641
Interest Only ARM--3 Year/6
Month--120 mo. IO term                    1         92,000       0.03      7.250       359        80.00       652
-------------------------------------------------------------------------------------------------------------------
Total:                                1,217    289,707,200     100.00      8.011       357        80.13       658
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              1        266,038       0.09      5.925       358        80.00       707
6.000--6.999                            104     28,922,401       9.98      6.770       356        79.97       667
7.000--7.999                            532    137,792,619      47.56      7.615       357        79.89       665
8.000--8.999                            397     91,436,200      31.56      8.474       357        79.95       652
9.000--9.999                            137     26,422,092       9.12      9.385       357        81.29       642
10.000--10.999                           41      4,201,833       1.45     10.388       357        84.69       586
11.000--11.999                            5        666,017       0.23     11.397       356        85.78       529
-------------------------------------------------------------------------------------------------------------------
Total:                                1,217    289,707,200     100.00      8.011       357        80.13       658
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 11.840
Weighted Average: 8.011

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Balance ($)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

25,001--50,000                            2         97,825       0.03     9.913        356        80.00       578
50,001--75,000                           61      3,974,251       1.37     8.821        355        80.27       617
75,001--100,000                          92      8,033,290       2.77     8.818        355        81.47       625
100,001--125,000                        116     13,122,372       4.53     8.459        357        81.08       634
125,001--150,000                        116     15,985,871       5.52     8.234        357        80.46       645
150,001--175,000                         92     14,892,624       5.14     8.167        357        81.08       647
175,001--200,000                        117     21,899,939       7.56     8.141        357        80.26       655
200,001--225,000                         92     19,555,969       6.75     8.016        357        79.86       659
225,001--250,000                         76     18,037,448       6.23     7.811        357        80.00       655
250,001--275,000                         66     17,236,772       5.95     7.918        357        80.53       655
275,001--300,000                         58     16,578,081       5.72     8.009        357        80.12       660
300,001--325,000                         44     13,712,890       4.73     7.752        357        80.22       662
325,001--350,000                         34     11,462,327       3.96     7.946        357        80.00       666
350,001--375,000                         40     14,452,490       4.99     7.886        357        79.87       666
375,001--400,000                         44     17,158,114       5.92     7.833        357        79.06       669
400,001--425,000                         30     12,457,483       4.30     7.930        356        80.00       660
425,001--450,000                         28     12,286,753       4.24     7.690        357        79.98       655
450,001--475,000                         23     10,605,711       3.66     8.046        357        80.49       675
475,001--500,000                         28     13,765,149       4.75     7.892        356        78.41       653
500,001--750,000                         55     32,065,512      11.07     7.839        357        80.11       669
750,001--1,000,000                        3      2,326,326       0.80     8.640        353        80.53       736
-------------------------------------------------------------------------------------------------------------------
Total:                                1,217    289,707,200     100.00     8.011        357        80.13       658
-------------------------------------------------------------------------------------------------------------------


Minimum: 47,925
Maximum: 780,000
Average: 238,050

STATED ORIGINAL TERM (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

180                                       1         99,889       0.03     7.600        177        80.00       692
240                                       1         64,343       0.02     7.390        237        71.10       661
360                                   1,215    289,542,969      99.94     8.011        357        80.13       658
-------------------------------------------------------------------------------------------------------------------
Total:                                1,217    289,707,200     100.00     8.011        357        80.13       658
-------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original      FICO
            (months)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                                1         99,889       0.03      7.600       177        80.00       692
229--240                                1         64,343       0.02      7.390       237        71.10       661
349--360                            1,215    289,542,969      99.94      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Minimum: 177
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original      FICO
            Ratios (%)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

45.01--50.00                            1        399,475       0.14      8.125       358        49.38       661
55.01--60.00                            1        233,539       0.08      8.140       357        60.00       564
65.01--70.00                            2        597,135       0.21      7.496       358        69.11       662
70.01--75.00                           10      2,268,918       0.78      8.510       352        72.88       641
75.01--80.00                        1,131    274,481,518      94.74      7.948       357        79.94       660
80.01--85.00                           27      5,086,071       1.76      9.256       356        84.46       619
85.01--90.00                           39      5,635,458       1.95      9.462       357        89.69       614
90.01--95.00                            6      1,005,085       0.35      9.695       357        94.88       594
-----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Minimum: 49.38
Maximum: 95.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original      FICO
   Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       56      9,677,508       3.34      8.140       354        79.20       646
<= 3.500                               16      3,076,876       1.06      7.609       358        78.71       671
3.501--4.000                           12      2,945,081       1.02      7.250       357        80.00       692
4.001--4.500                           18      5,130,001       1.77      7.541       358        80.00       685
4.501--5.000                           66     17,015,755       5.87      7.951       357        80.18       665
5.001--5.500                          110     34,839,341      12.03      8.067       356        80.22       669
5.501--6.000                          172     39,934,784      13.78      7.937       356        79.86       657
6.001--6.500                          301     73,719,040      25.45      7.754       357        80.14       658
6.501--7.000                          130     32,048,269      11.06      7.705       357        80.14       666
7.001--7.500                          282     56,992,999      19.67      8.423       357        80.54       646
7.501--8.000                           38     10,261,343       3.54      8.705       357        80.03       639
8.001--8.500                           12      3,330,077       1.15      9.120       357        78.71       635
8.501--9.000                            2        320,539       0.11      9.279       356        87.16       617
9.001--9.500                            2        415,588       0.14      9.370       358        80.00       639
-----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.240
Non-Zero Weighted Average: 6.278

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original      FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       56      9,677,508       3.34      8.140       354        79.20       646
5.501--6.000                            4      1,288,866       0.44      7.686       353        78.87       662
6.001--6.500                           18      4,888,589       1.69      6.434       357        80.00       663
6.501--7.000                           91     25,439,934       8.78      6.870       356        79.97       664
7.001--7.500                          171     46,976,499      16.22      7.310       357        79.79       666
7.501--8.000                          338     85,441,109      29.49      7.806       357        79.95       666
8.001--8.500                          206     50,288,148      17.36      8.284       357        79.84       654
8.501--9.000                          167     36,978,735      12.76      8.773       357        80.50       649
9.001--9.500                           79     17,280,867       5.96      9.244       357        81.01       654
9.501--10.000                          49      7,636,224       2.64      9.794       357        81.69       620
10.001 -10.500                         19      1,987,969       0.69     10.231       357        85.32       576
10.501--11.000                         16      1,495,946       0.52     10.701       357        86.09       571
11.001--11.500                          3        326,809       0.11     11.157       355        84.28       534
-----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.250
Non-Zero Weighted Average: 7.996

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original      FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       56      9,677,508       3.34      8.140       354        79.20       646
<= 12.500                              14      4,870,505       1.68      7.074       356        80.22       679
12.501--13.000                         27      8,568,078       2.96      7.366       355        80.00       679
13.001--13.500                         37     10,436,346       3.60      7.252       356        80.00       664
13.501--14.000                         98     26,234,900       9.06      7.188       356        79.90       655
14.001--14.500                        170     46,949,186      16.21      7.448       357        79.88       666
14.501--15.000                        318     79,644,289      27.49      7.837       357        79.99       664
15.001--15.500                        188     44,014,116      15.19      8.300       357        79.79       651
15.501--16.000                        160     33,700,952      11.63      8.792       357        80.53       650
16.001--16.500                         73     15,372,992       5.31      9.265       357        80.94       656
16.501--17.000                         44      6,642,531       2.29      9.815       357        81.42       621
17.001--17.500                         14      1,565,701       0.54     10.221       358        86.76       572
17.501--18.000                         14      1,358,561       0.47     10.707       357        86.70       576
18.001--18.500                          3        326,809       0.11     11.157       355        84.28       534
23.501--24.000                          1        344,727       0.12      8.350       356        80.00       596
-----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.700
Maximum: 23.690
Non-Zero Weighted Average: 14.830

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original      FICO
    Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       56      9,677,508       3.34      8.140       354        79.20       646
1.500                                 214     51,329,590      17.72      8.011       357        80.13       661
2.000                                 249     67,332,688      23.24      7.900       357        80.13       666
3.000                                 696    161,088,729      55.60      8.050       357        80.19       654
6.000                                   2        278,686       0.10      7.752       358        80.00       645
-----------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.488

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                 of         Date          Date      Gross     Remaining   Combined   Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                   56      9,677,508       3.34      8.140        354       79.20       646
1.000                             255     66,051,430      22.80      8.035        355       80.09       654
1.500                             899    211,322,026      72.94      7.999        357       80.18       658
2.000                               7      2,656,237       0.92      7.891        352       80.46       703
-------------------------------------------------------------------------------------------------------------
Total:                          1,217    289,707,200     100.00      8.011        357       80.13       658
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.387

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date          Date      Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646
13                                     1        148,392       0.05      7.715       349        80.00       688
14                                     7      2,329,786       0.80      7.143       350        80.00       690
15                                    19      5,094,547       1.76      7.717       351        79.24       653
16                                    12      1,750,067       0.60      7.630       352        80.00       647
17                                    33      8,780,754       3.03      7.912       353        80.08       656
18                                    33      7,914,131       2.73      7.713       354        80.05       641
19                                    58     14,380,399       4.96      8.142       355        80.25       646
20                                   130     37,034,008      12.78      8.036       356        80.15       659
21                                   206     53,695,047      18.53      7.979       357        80.11       658
22                                   398     94,401,496      32.59      7.966       358        80.15       662
23                                    39      9,712,683       3.35      7.930       359        79.66       675
27                                     1        620,450       0.21      8.750       351        80.00       629
28                                     1         91,129       0.03      9.250       352        80.00       628
30                                     1         89,178       0.03      7.300       354        80.00       597
31                                     3        567,572       0.20      7.899       355        80.00       624
32                                    18      3,466,141       1.20      8.346       356        80.07       656
33                                    69     14,109,223       4.87      8.270       357        80.54       651
34                                   124     24,415,031       8.43      8.218       358        80.67       654
35                                     5        719,955       0.25      7.574       359        80.00       666
55                                     1        373,958       0.13      8.990       355        75.00       566
57                                     1        180,000       0.06      7.500       357        80.00       700
58                                     1        155,743       0.05      6.990       358        80.00       636
----------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13
Maximum: 58
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                       318    115,775,859      39.96      7.830       357        79.87       666
Florida                          169     35,601,279      12.29      8.062       356        80.19       660
Illinois                          87     17,777,106       6.14      8.212       356        79.98       652
New York                          49     15,056,161       5.20      7.929       357        79.43       680
Arizona                           54     10,067,195       3.47      8.017       357        80.12       657
Nevada                            38      9,626,254       3.32      7.821       357        80.04       647
Massachusetts                     27      6,347,343       2.19      8.060       357        80.18       634
Maryland                          22      6,181,188       2.13      7.507       357        80.10       661
Texas                             48      6,089,849       2.10      8.367       356        79.89       650
Hawaii                            12      5,585,554       1.93      7.970       357        80.22       683
Georgia                           34      5,516,700       1.90      8.268       357        80.50       644
Washington                        26      4,984,354       1.72      7.614       357        80.00       643
Virginia                          18      4,484,906       1.55      8.227       357        80.16       633
Michigan                          43      4,365,127       1.51      8.795       357        81.17       621
Rhode Island                      18      4,236,926       1.46      8.148       357        80.40       655
Other                            254     38,011,399      13.12      8.403       357        81.07       638
------------------------------------------------------------------------------------------------------------
Total:                         1,217    289,707,200     100.00      8.011       357        80.13       658
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 46

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                 of         Date          Date       Gross    Remaining   Combined   Average
              Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------

Primary         1,180    282,586,745      97.54      7.995        357       80.09       657
Second Home        22      5,159,137       1.78      8.474        358       80.09       683
Investment         15      1,961,319       0.68      9.128        357       85.95       640
---------------------------------------------------------------------------------------------
Total:          1,217    289,707,200     100.00      8.011        357       80.13       658
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of         Date          Date      Gross     Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence        948    219,393,366      75.73      7.987        357       80.19       655
2-4 Family                      83     25,610,497       8.84      8.150        357       79.85       670
Planned Unit Development        91     23,398,178       8.08      7.953        356       79.93       659
Condo                           95     21,305,159       7.35      8.149        357       80.03       667
----------------------------------------------------------------------------------------------------------
Total:                       1,217    289,707,200     100.00      8.011        357       80.13       658
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Purchase                 1,003    236,420,665      81.61      8.034        357       80.21       660
Refinance--Cashout         187     48,429,103      16.72      7.922        356       79.76       645
Refinance--Rate Term        27      4,857,433       1.68      7.762        355       79.82       643
------------------------------------------------------------------------------------------------------
Total:                   1,217    289,707,200     100.00      8.011        357       80.13       658
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of         Date          Date      Gross     Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Stated Documentation        708    184,346,856      63.63      8.167        357       80.01       671
Full Documentation          469     92,821,538      32.04      7.745        357       80.39       633
Limited Documentation        40     12,538,806       4.33      7.681        356       79.92       635
-------------------------------------------------------------------------------------------------------
Total:                    1,217    289,707,200     100.00      8.011        357       80.13       658
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                  of         Date          Date      Gross     Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

500--524            10        934,676       0.32      10.533       357       79.60       512
525--549            18      2,112,298       0.73       9.686       357       83.55       537
550--574            29      3,346,879       1.16       9.584       357       82.21       562
575--599            63     10,409,051       3.59       8.414       357       81.86       589
600--624           236     52,696,509      18.19       8.038       357       80.31       614
625--649           289     66,951,762      23.11       8.068       357       80.10       637
650--674           241     62,593,727      21.61       7.966       357       79.74       661
675--699           145     39,557,426      13.65       7.837       356       79.91       686
700--724            90     24,309,333       8.39       7.790       357       79.92       711
725--749            50     13,073,130       4.51       7.861       357       80.11       735
750--774            31      8,827,791       3.05       7.811       357       80.10       760
775--799            15      4,894,619       1.69       7.624       357       80.00       782
----------------------------------------------------------------------------------------------
Total:           1,217    289,707,200     100.00       8.011       357       80.13       658
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 502
Maximum: 792
Non-Zero Weighted Average: 658

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECONDS                                           1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            282      64,870,672      22.39      8.295       357        80.21       662
6                              9       2,351,625       0.81      7.936       357        78.31       682
12                            93      28,093,125       9.70      8.177       357        79.74       670
24                           614     150,198,742      51.85      7.825       357        80.12       655
30                             3         528,053       0.18      9.097       358        83.07       632
36                           210      42,426,697      14.64      8.108       357        80.34       652
60                             6       1,238,287       0.43      8.286       357        80.00       618
---------------------------------------------------------------------------------------------------------
Total:                     1,217     289,707,200     100.00      8.011       357        80.13       658
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Lien Position               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                   1,217     289,707,200     100.00      8.011       357        80.13       658
---------------------------------------------------------------------------------------------------------
Total:                     1,217     289,707,200     100.00      8.011       357        80.13       658
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                            898     194,061,855      66.99      8.133       357        80.22       653
24                             1         210,400       0.07      8.250       358        80.00       628
36                             2         444,000       0.15      7.937       358        80.00       638
60                           314      94,712,259      32.69      7.760       357        79.96       667
120                            2         278,686       0.10      7.752       358        80.00       645
---------------------------------------------------------------------------------------------------------
Total:                     1,217     289,707,200     100.00      8.011       357        80.13       658
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,217
Aggregate Principal Balance ($): 289,707,200
Weighted Average Current Mortgage Rate (%): 8.011
Non-Zero Weighted Average Margin (%): 6.278
Non-Zero Weighted Average Maximum Rate (%): 14.830
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 100.00
% Owner Occupied: 97.54
% Purchase: 81.61
% Full Doc: 32.04
Non-Zero Weighted Average Credit Score: 658

ORIGINATOR



                                              % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                     Number     Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                      of          Date         Date       Gross    Remaining   Combined    Average     Back
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
   Originator        Loans   Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-------------------------------------------------------------------------------------------------------------

Accredited             173     40,206,238      13.88      8.062       357        79.63       665       43.43
Chapel                  12      2,761,637       0.95      7.434       351        80.00       650       45.77
Encore                  63     21,117,668       7.29      8.022       356        80.30       673       44.14
First Banc              20      4,265,418       1.47      7.651       354        80.16       631       42.77
First Horizon           46      8,083,511       2.79      8.622       358        80.28       647       41.41
First NLC              550    122,127,821      42.16      8.076       357        80.23       654       44.66
Funding America         10      1,766,094       0.61      8.079       354        79.82       643       41.45
Lenders Direct          12      3,009,489       1.04      7.771       354        79.52       655       44.08
Lime Financial          19      5,390,957       1.86      7.665       355        80.00       652       45.19
Mandalay                 7      1,551,888       0.54      7.633       354        80.00       638       45.51
Master Financial        57     17,449,800       6.02      7.984       355        80.04       657       41.77
Maxim                    3        336,357       0.12      8.057       357        80.00       649       34.19
New Century            234     58,284,315      20.12      7.834       358        80.19       660       43.35
Rose Mortgage           11      3,356,006       1.16      8.519       357        81.41       656       45.54
-------------------------------------------------------------------------------------------------------------
Total:               1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
-------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                 of          Date         Date       Gross    Remaining   Combined    Average     Back
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
   Product with IO term         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score     Ratio
------------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                      1         99,889       0.03      7.600       177        80.00       692       22.40
Fixed--20 Year                      1         64,343       0.02      7.390       237        71.10       661       41.78
Fixed--30 Year                     38      5,169,556       1.78      8.253       357        77.62       634       41.29
Balloon--30/40                     11      2,815,920       0.97      7.988       357        80.76       657       40.19
ARM--2 Year/6 Month Balloon       315     87,890,156      30.34      7.936       357        80.07       661       43.85
30/40
ARM--2 Year/6 Month Balloon         1        203,935       0.07      8.450       357        80.00       625       51.37
30/50
ARM--3 Year/6 Month Balloon        63     14,585,050       5.03      8.088       357        80.10       656       44.85
30/40
ARM--2 Year/6 Month               356     65,745,338      22.69      8.256       357        80.41       649       42.89
ARM--3 Year/6 Month               109     16,822,485       5.81      8.714       357        81.21       633       45.68
ARM--5 Year/6 Month                 2        529,701       0.18      8.402       356        76.47       587       42.65
Dual Amort--10/40--2 Year/6         1        135,481       0.05      6.700       351        80.00       657       49.70
Month
Interest Only ARM--2 Year/6         1        210,400       0.07      8.250       358        80.00       628       36.80
Month--24 mo. IO term
Interest Only ARM--3 Year/6         2        444,000       0.15      7.937       358        80.00       638       43.15
Month--36 mo. IO term
Interest Only Fixed--30             5      1,527,800       0.53      8.103       357        81.98       663       47.89
Year--60 mo. IO term
Interest Only ARM--2 Year/6       261     80,869,314      27.91      7.752       356        79.88       666       44.19
Month--60 mo. IO term
Interest Only ARM--3 Year/6        47     12,135,146       4.19      7.776       357        80.20       676       45.77
Month--60 mo. IO term
Interest Only ARM--5 Year/6         1        180,000       0.06      7.500       357        80.00       700       41.76
Month--60 mo. IO term
Interest Only ARM--2 Year/6         1        186,686       0.06      8.000       358        80.00       641       46.89
Month--120 mo. IO term
Interest Only ARM--3 Year/6         1         92,000       0.03      7.250       359        80.00       652       44.60
Month--120 mo. IO term
------------------------------------------------------------------------------------------------------------------------
Total:                          1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                     % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of         Date          Date       Gross    Remaining   Combined    Average     Back
Range of Gross Interest   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
        Rates (%)           Loans    Balance ($)    Balance    Rate (%)    (months)       LTV      Score      Ratio
--------------------------------------------------------------------------------------------------------------------

5.000--5.999                    1        266,038       0.09     5.925        358        80.00       707       41.63
6.000--6.999                  104     28,922,401       9.98     6.770        356        79.97       667       44.98
7.000--7.999                  532    137,792,619      47.56     7.615        357        79.89       665       43.77
8.000--8.999                  397     91,436,200      31.56     8.474        357        79.95       652       43.39
9.000--9.999                  137     26,422,092       9.12     9.385        357        81.29       642       45.15
10.000--10.999                 41      4,201,833       1.45    10.388        357        84.69       586       44.42
11.000--11.999                  5        666,017       0.23    11.397        356        85.78       529       44.27
--------------------------------------------------------------------------------------------------------------------
Total:                      1,217    289,707,200     100.00     8.011        357        80.13       658       43.90
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

Minimum: 5.925
Maximum: 11.840
Weighted Average: 8.011

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                   Mortgage
                                                   Pool by
                                     Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                            of          Date         Date       Gross    Remaining   Combined    Average     Back
 Range of Cut-off Date   Mortgage    Principal    Principal   Interest     Term      Original     FICO        DTI
Principal Balances ($)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score     Ratio
-------------------------------------------------------------------------------------------------------------------

25,001--50,000                 2         97,825       0.03      9.913       356        80.00       578       34.75
50,001--75,000                61      3,974,251       1.37      8.821       355        80.27       617       38.56
75,001--100,000               92      8,033,290       2.77      8.818       355        81.47       625       41.26
100,001--125,000             116     13,122,372       4.53      8.459       357        81.08       634       42.66
125,001--150,000             116     15,985,871       5.52      8.234       357        80.46       645       43.12
150,001--175,000              92     14,892,624       5.14      8.167       357        81.08       647       43.51
175,001--200,000             117     21,899,939       7.56      8.141       357        80.26       655       44.08
200,001--225,000              92     19,555,969       6.75      8.016       357        79.86       659       43.10
225,001--250,000              76     18,037,448       6.23      7.811       357        80.00       655       45.58
250,001--275,000              66     17,236,772       5.95      7.918       357        80.53       655       43.91
275,001--300,000              58     16,578,081       5.72      8.009       357        80.12       660       43.78
300,001--325,000              44     13,712,890       4.73      7.752       357        80.22       662       45.01
325,001--350,000              34     11,462,327       3.96      7.946       357        80.00       666       43.44
350,001--375,000              40     14,452,490       4.99      7.886       357        79.87       666       43.43
375,001--400,000              44     17,158,114       5.92      7.833       357        79.06       669       45.07
400,001--425,000              30     12,457,483       4.30      7.930       356        80.00       660       45.14
425,001--450,000              28     12,286,753       4.24      7.690       357        79.98       655       44.52
450,001--475,000              23     10,605,711       3.66      8.046       357        80.49       675       44.43
475,001--500,000              28     13,765,149       4.75      7.892       356        78.41       653       43.69
500,001--750,000              55     32,065,512      11.07      7.839       357        80.11       669       44.07
750,001--1,000,000             3      2,326,326       0.80      8.640       353        80.53       736       46.70
-------------------------------------------------------------------------------------------------------------------
Total:                     1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
-------------------------------------------------------------------------------------------------------------------


Minimum: 47,925
Maximum: 780,000
Average: 238,050

STATED ORIGINAL TERM (MONTHS)



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                         Number      Cut-off     Cut-off     Average    Average     Average   Weighted    Average
                          of         Date          Date       Gross    Remaining   Combined    Average     Back
Stated Original Term   Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      (months)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
-----------------------------------------------------------------------------------------------------------------

180                          1         99,889       0.03      7.600       177        80.00       692       22.40
240                          1         64,343       0.02      7.390       237        71.10       661       41.78
360                      1,215    289,542,969      99.94      8.011       357        80.13       658       43.91
-----------------------------------------------------------------------------------------------------------------
Total:                   1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted   Average
                                    of          Date        Date        Gross    Remaining   Combined    Average     Back
Range of Stated Remaining        Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
     Terms (months)                Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score     Ratio
---------------------------------------------------------------------------------------------------------------------------

169--180                               1         99,889       0.03      7.600       177        80.00      692       22.40
229--240                               1         64,343       0.02      7.390       237        71.10      661       41.78
349--360                           1,215    289,542,969      99.94      8.011       357        80.13      658       43.91
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13      658       43.90
---------------------------------------------------------------------------------------------------------------------------


Minimum: 177
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted   Average
                                    of          Date        Date        Gross    Remaining   Combined    Average     Back
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
          Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score     Ratio
---------------------------------------------------------------------------------------------------------------------------

45.01--50.00                           1        399,475      0.14       8.125       358        49.38      661       44.58
55.01--60.00                           1        233,539      0.08       8.140       357        60.00      564       48.96
65.01--70.00                           2        597,135      0.21       7.496       358        69.11      662       41.69
70.01--75.00                          10      2,268,918      0.78       8.510       352        72.88      641       42.47
75.01--80.00                       1,131    274,481,518     94.74       7.948       357        79.94      660       43.88
80.01--85.00                          27      5,086,071      1.76       9.256       356        84.46      619       43.33
85.01--90.00                          39      5,635,458      1.95       9.462       357        89.69      614       44.89
90.01--95.00                           6      1,005,085      0.35       9.695       357        94.88      594       49.25
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200    100.00       8.011       357        80.13      658       43.90
---------------------------------------------------------------------------------------------------------------------------


Minimum: 49.38
Maximum: 95.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted   Average
                                    of          Date        Date        Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
  Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score     Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20      646       41.82
<= 3.500                              16      3,076,876       1.06      7.609       358        78.71      671       43.40
3.501--4.000                          12      2,945,081       1.02      7.250       357        80.00      692       45.73
4.001--4.500                          18      5,130,001       1.77      7.541       358        80.00      685       43.20
4.501--5.000                          66     17,015,755       5.87      7.951       357        80.18      665       42.71
5.001--5.500                         110     34,839,341      12.03      8.067       356        80.22      669       43.71
5.501--6.000                         172     39,934,784      13.78      7.937       356        79.86      657       43.41
6.001--6.500                         301     73,719,040      25.45      7.754       357        80.14      658       43.79
6.501--7.000                         130     32,048,269      11.06      7.705       357        80.14      666       44.21
7.001--7.500                         282     56,992,999      19.67      8.423       357        80.54      646       44.71
7.501--8.000                          38     10,261,343       3.54      8.705       357        80.03      639       44.46
8.001--8.500                          12      3,330,077       1.15      9.120       357        78.71      635       46.56
8.501--9.000                           2        320,539       0.11      9.279       356        87.16      617       49.36
9.001--9.500                           2        415,588       0.14      9.370       358        80.00      639       49.34
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13      658       43.90
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.240
Non-Zero Weighted Average: 6.278

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average    Average    Weighted   Average
                                    of          Date        Date        Gross    Remaining   Combined    Average     Back
   Range of Minimum Mortgage     Mortgage    Principal    Principal   Interest      Term     Original     FICO       DTI
           Rates (%)               Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score     Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20      646       41.82
5.501--6.000                           4      1,288,866       0.44      7.686       353        78.87      662       42.25
6.001--6.500                          18      4,888,589       1.69      6.434       357        80.00      663       45.91
6.501--7.000                          91     25,439,934       8.78      6.870       356        79.97      664       44.96
7.001--7.500                         171     46,976,499      16.22      7.310       357        79.79      666       43.66
7.501--8.000                         338     85,441,109      29.49      7.806       357        79.95      666       44.20
8.001--8.500                         206     50,288,148      17.36      8.284       357        79.84      654       42.61
8.501--9.000                         167     36,978,735      12.76      8.773       357        80.50      649       44.07
9.001--9.500                          79     17,280,867       5.96      9.244       357        81.01      654       44.10
9.501--10.000                         49      7,636,224       2.64      9.794       357        81.69      620       47.33
10.001 -10.500                        19      1,987,969       0.69     10.231       357        85.32      576       45.11
10.501--11.000                        16      1,495,946       0.52     10.701       357        86.09      571       44.55
11.001--11.500                         3        326,809       0.11     11.157       355        84.28      534       37.04
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13      658       43.90
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.250
Non-Zero Weighted Average: 7.996

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                     of          Date         Date       Gross    Remaining   Combined    Average     Back
   Range of Maximum Mortgage      Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
           Rates (%)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score       Ratio
----------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       56      9,677,508       3.34      8.140       354        79.20       646       41.82
<= 12.500                              14      4,870,505       1.68      7.074       356        80.22       679       47.02
12.501--13.000                         27      8,568,078       2.96      7.366       355        80.00       679       45.47
13.001--13.500                         37     10,436,346       3.60      7.252       356        80.00       664       44.60
13.501--14.000                         98     26,234,900       9.06      7.188       356        79.90       655       44.39
14.001--14.500                        170     46,949,186      16.21      7.448       357        79.88       666       43.44
14.501--15.000                        318     79,644,289      27.49      7.837       357        79.99       664       44.11
15.001--15.500                        188     44,014,116      15.19      8.300       357        79.79       651       42.43
15.501--16.000                        160     33,700,952      11.63      8.792       357        80.53       650       44.23
16.001--16.500                         73     15,372,992       5.31      9.265       357        80.94       656       44.31
16.501--17.000                         44      6,642,531       2.29      9.815       357        81.42       621       47.72
17.001--17.500                         14      1,565,701       0.54     10.221       358        86.76       572       45.12
17.501--18.000                         14      1,358,561       0.47     10.707       357        86.70       576       44.77
18.001--18.500                          3        326,809       0.11     11.157       355        84.28       534       37.04
23.501--24.000                          1        344,727       0.12      8.350       356        80.00       596       39.16
----------------------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
----------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.700
Maximum: 23.690
Non-Zero Weighted Average: 14.830

INITIAL PERIODIC CAP (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                     of          Date         Date       Gross    Remaining   Combined    Average     Back
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
    Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score       Ratio
----------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       56      9,677,508       3.34     8.140        354        79.20       646       41.82
1.500                                 214     51,329,590      17.72     8.011        357        80.13       661       43.71
2.000                                 249     67,332,688      23.24     7.900        357        80.13       666       43.55
3.000                                 696    161,088,729      55.60     8.050        357        80.19       654       44.23
6.000                                   2        278,686       0.10     7.752        358        80.00       645       46.13
----------------------------------------------------------------------------------------------------------------------------
Total:                              1,217    289,707,200     100.00     8.011        357        80.13       658       43.90
----------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.488

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646       41.82
1.000                                255     66,051,430      22.80      8.035       355        80.09       654       43.42
1.500                                899    211,322,026      72.94      7.999       357        80.18       658       44.13
2.000                                  7      2,656,237       0.92      7.891       352        80.46       703       44.83
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.387

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
      Months to Next Rate        Mortgage    Principal    Principal   Interest      Term     Original      FICO       DTI
          Adjustment               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      56      9,677,508       3.34      8.140       354        79.20       646       41.82
13                                     1        148,392       0.05      7.715       349        80.00       688       41.18
14                                     7      2,329,786       0.80      7.143       350        80.00       690       44.48
15                                    19      5,094,547       1.76      7.717       351        79.24       653       44.21
16                                    12      1,750,067       0.60      7.630       352        80.00       647       45.66
17                                    33      8,780,754       3.03      7.912       353        80.08       656       43.59
18                                    33      7,914,131       2.73      7.713       354        80.05       641       42.46
19                                    58     14,380,399       4.96      8.142       355        80.25       646       43.85
20                                   130     37,034,008      12.78      8.036       356        80.15       659       43.40
21                                   206     53,695,047      18.53      7.979       357        80.11       658       44.46
22                                   398     94,401,496      32.59      7.966       358        80.15       662       43.47
23                                    39      9,712,683       3.35      7.930       359        79.66       675       43.14
27                                     1        620,450       0.21      8.750       351        80.00       629       47.27
28                                     1         91,129       0.03      9.250       352        80.00       628       45.42
30                                     1         89,178       0.03      7.300       354        80.00       597       42.15
31                                     3        567,572       0.20      7.899       355        80.00       624       45.85
32                                    18      3,466,141       1.20      8.346       356        80.07       656       43.30
33                                    69     14,109,223       4.87      8.270       357        80.54       651       45.77
34                                   124     24,415,031       8.43      8.218       358        80.67       654       45.48
35                                     5        719,955       0.25      7.574       359        80.00       666       44.31
55                                     1        373,958       0.13      8.990       355        75.00       566       41.13
57                                     1        180,000       0.06      7.500       357        80.00       700       41.76
58                                     1        155,743       0.05      6.990       358        80.00       636       46.30
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13
Maximum: 58
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original      FICO       DTI
     Mortgaged Properties          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

California                           318    115,775,859      39.96      7.830       357        79.87       666       44.34
Florida                              169     35,601,279      12.29      8.062       356        80.19       660       43.16
Illinois                              87     17,777,106       6.14      8.212       356        79.98       652       44.85
New York                              49     15,056,161       5.20      7.929       357        79.43       680       43.60
Arizona                               54     10,067,195       3.47      8.017       357        80.12       657       43.75
Nevada                                38      9,626,254       3.32      7.821       357        80.04       647       46.47
Massachusetts                         27      6,347,343       2.19      8.060       357        80.18       634       46.64
Maryland                              22      6,181,188       2.13      7.507       357        80.10       661       41.88
Texas                                 48      6,089,849       2.10      8.367       356        79.89       650       43.39
Hawaii                                12      5,585,554       1.93      7.970       357        80.22       683       44.94
Georgia                               34      5,516,700       1.90      8.268       357        80.50       644       41.97
Washington                            26      4,984,354       1.72      7.614       357        80.00       643       43.63
Virginia                              18      4,484,906       1.55      8.227       357        80.16       633       43.51
Michigan                              43      4,365,127       1.51      8.795       357        81.17       621       39.74
Rhode Island                          18      4,236,926       1.46      8.148       357        80.40       655       45.84
Other                                254     38,011,399      13.12      8.403       357        81.07       638       42.73
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 46

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
           Occupancy             Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
                                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Primary                            1,180    282,586,745      97.54      7.995       357        80.09       657       43.93
Second Home                           22      5,159,137       1.78      8.474       358        80.09       683       42.89
Investment                            15      1,961,319       0.68      9.128       357        85.95       640       41.92
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                            Aggregate     Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number     Cut-off       Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Property Type             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Single Family Residence              948    219,393,366      75.73      7.987       357        80.19       655       43.92
2-4 Family                            83     25,610,497       8.84      8.150       357        79.85       670       45.46
Planned Unit Development              91     23,398,178       8.08      7.953       356        79.93       659       43.35
Condo                                 95     21,305,159       7.35      8.149       357        80.03       667       42.41
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Loan Purpose              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Purchase                           1,003    236,420,665      81.61      8.034       357        80.21       660       43.99
Refinance--Cashout                   187     48,429,103      16.72      7.922       356        79.76       645       43.50
Refinance--Rate Term                  27      4,857,433       1.68      7.762       355        79.82       643       43.37
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of          Date         Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
      Documentation Level          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

Stated Documentation                 708    184,346,856      63.63      8.167       357        80.01       671       44.30
Full Documentation                   469     92,821,538      32.04      7.745       357        80.39       633       43.38
Limited Documentation                 40     12,538,806       4.33      7.681       356        79.92       635       42.04
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                                    of         Date          Date       Gross    Remaining   Combined    Average     Back
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
         Credit Score              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
---------------------------------------------------------------------------------------------------------------------------

500--524                              10        934,676       0.32     10.533       357        79.60       512       46.66
525--549                              18      2,112,298       0.73      9.686       357        83.55       537       40.81
550--574                              29      3,346,879       1.16      9.584       357        82.21       562       43.65
575--599                              63     10,409,051       3.59      8.414       357        81.86       589       43.73
600--624                             236     52,696,509      18.19      8.038       357        80.31       614       43.51
625--649                             289     66,951,762      23.11      8.068       357        80.10       637       44.46
650--674                             241     62,593,727      21.61      7.966       357        79.74       661       43.97
675--699                             145     39,557,426      13.65      7.837       356        79.91       686       43.98
700--724                              90     24,309,333       8.39      7.790       357        79.92       711       43.14
725--749                              50     13,073,130       4.51      7.861       357        80.11       735       44.23
750--774                              31      8,827,791       3.05      7.811       357        80.10       760       43.58
775--799                              15      4,894,619       1.69      7.624       357        80.00       782       43.85
---------------------------------------------------------------------------------------------------------------------------
Total:                             1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
---------------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 502
Maximum: 792
Non-Zero Weighted Average: 658

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SILENT SECOND WITH DTI                                   1,217 records
                                                           Balance: $289,707,200
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of         Date          Date       Gross    Remaining   Combined    Average     Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------

0                             282     64,870,672      22.39      8.295       357        80.21       662       44.03
6                               9      2,351,625       0.81      7.936       357        78.31       682       43.74
12                             93     28,093,125       9.70      8.177       357        79.74       670       44.23
24                            614    150,198,742      51.85      7.825       357        80.12       655       43.68
30                              3        528,053       0.18      9.097       358        83.07       632       47.21
36                            210     42,426,697      14.64      8.108       357        80.34       652       44.30
60                              6      1,238,287       0.43      8.286       357        80.00       618       42.42
--------------------------------------------------------------------------------------------------------------------
Total:                      1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
--------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of         Date          Date       Gross    Remaining   Combined    Average     Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
     Lien Position          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------

1st Lien                    1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
--------------------------------------------------------------------------------------------------------------------
Total:                      1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
--------------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                     % of
                                                   Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted              Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted    Average
                             of         Date          Date       Gross    Remaining   Combined    Average     Back
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO        DTI
   Interest Only Term       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score      Ratio
--------------------------------------------------------------------------------------------------------------------

0                             898    194,061,855      66.99      8.133       357        80.22       653       43.64
24                              1        210,400       0.07      8.250       358        80.00       628       36.80
36                              2        444,000       0.15      7.937       358        80.00       638       43.15
60                            314     94,712,259      32.69      7.760       357        79.96       667       44.45
120                             2        278,686       0.10      7.752       358        80.00       645       46.13
--------------------------------------------------------------------------------------------------------------------
Total:                      1,217    289,707,200     100.00      8.011       357        80.13       658       43.90
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,321
Aggregate Principal Balance ($): 314,904,178
Weighted Average Current Mortgage Rate (%): 7.996
Non-Zero Weighted Average Margin (%): 6.290
Non-Zero Weighted Average Maximum Rate (%): 14.809
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.13
% First Liens: 100.00
% Owner Occupied: 97.74
% Purchase: 82.70
% Full Doc: 31.07
Non-Zero Weighted Average Credit Score: 658

ORIGINATOR



                                               % of
                                            Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited             173     40,206,238      12.77      8.062       357        79.63       665
Chapel                  12      2,761,637       0.88      7.434       351        80.00       650
Encore                  63     21,117,668       6.71      8.022       356        80.30       673
First Banc              22      4,699,337       1.49      7.641       354        80.15       630
First Horizon           46      8,083,511       2.57      8.622       358        80.28       647
First NLC              617    136,312,181      43.29      8.066       357        80.20       655
Funding America         12      2,495,694       0.79      7.778       355        79.87       657
Lenders Direct          12      3,009,489       0.96      7.771       354        79.52       655
Lime Financial          25      7,266,860       2.31      7.624       356        80.00       653
Mandalay                 9      2,169,792       0.69      7.366       353        80.00       677
Master Financial        70     22,099,511       7.02      7.947       355        80.15       654
Maxim                    6        743,663       0.24      8.294       357        80.00       623
New Century            234     58,284,315      18.51      7.834       358        80.19       660
Rose Mortgage           20      5,654,282       1.80      8.164       357        80.84       664
--------------------------------------------------------------------------------------------------
Total:               1,321    314,904,178     100.00      7.996       357        80.13       658
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                   % of
                                                                Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of          Date         Date       Gross    Remaining   Combined    Average
                                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Product with IO term             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                               1         99,889       0.03      7.600       177        80.00       692
Fixed--20 Year                               1         64,343       0.02      7.390       237        71.10       661
Fixed--30 Year                              40      5,526,545       1.75      8.224       357        77.77       636
Balloon--30/40                              12      3,383,348       1.07      8.200       357        80.63       651
ARM--2 Year/6 Month Balloon 30/40          339     94,312,708      29.95      7.919       357        80.09       660
ARM--2 Year/6 Month Balloon 30/50            1        203,935       0.06      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40           69     15,725,710       4.99      8.092       357        80.10       655
ARM--2 Year/6 Month                        384     71,468,096      22.70      8.227       357        80.38       649
ARM--3 Year/6 Month                        120     18,540,490       5.89      8.670       357        81.09       636
ARM--5 Year/6 Month                          2        529,701       0.17      8.402       356        76.47       587
Dual Amort--10/40--2 Year/6 Month            1        135,481       0.04      6.700       351        80.00       657
Interest Only ARM--2 Year/6 Month--
   24 mo. IO term                            1        210,400       0.07      8.250       358        80.00       628
Interest Only ARM--3 Year/6 Month--
   36 mo. IO term                            2        444,000       0.14      7.937       358        80.00       638
Interest Only Fixed--30 Year--60 mo.
   IO term                                   5      1,527,800       0.49      8.103       357        81.98       663
Interest Only ARM--2 Year/6 Month--
   60 mo. IO term                          289     89,020,300      28.27      7.744       356        79.89       667
Interest Only ARM--3 Year/6 Month--
   60 mo. IO term                           51     13,252,746       4.21      7.770       357        80.18       681
Interest Only ARM--5 Year/6 Month--
   60 mo. IO term                            1        180,000       0.06      7.500       357        80.00       700
Interest Only ARM--2 Year/6 Month--
   120 mo. IO term                           1        186,686       0.06      8.000       358        80.00       641
Interest Only ARM--3 Year/6 Month--
   120 mo. IO term                           1         92,000       0.03      7.250       359        80.00       652
----------------------------------------------------------------------------------------------------------------------
Total:                                   1,321    314,904,178     100.00      7.996       357        80.13       658
----------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                 % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
  Range of Gross     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
----------------------------------------------------------------------------------------------------

5.000--5.999               1        266,038       0.08      5.925       358        80.00       707
6.000--6.999             117     32,449,357      10.30      6.779       356        80.06       669
7.000--7.999             581    151,109,479      47.99      7.614       357        79.90       665
8.000--8.999             430     98,086,074      31.15      8.469       357        79.95       651
9.000--9.999             146     28,125,380       8.93      9.381       357        81.21       642
10.000--10.999            41      4,201,833       1.33     10.388       357        84.69       586
11.000--11.999             5        666,017       0.21     11.397       356        85.78       529
----------------------------------------------------------------------------------------------------
Total:                 1,321    314,904,178     100.00      7.996       357        80.13       658
----------------------------------------------------------------------------------------------------


Minimum: 5.925
Maximum: 11.840
Weighted Average: 7.996

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                 % of
                                              Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
 Range of Cut-off       of          Date         Date       Gross    Remaining   Combined    Average
  Date Principal     Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Balances ($)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------

25,001--50,000             2         97,825       0.03      9.913       356        80.00       578
50,001--75,000            62      4,034,989       1.28      8.829       355        80.26       617
75,001--100,000           98      8,589,813       2.73      8.800       355        81.37       627
100,001--125,000         123     13,899,493       4.41      8.445       357        81.02       636
125,001--150,000         129     17,799,632       5.65      8.254       357        80.42       646
150,001--175,000         102     16,522,606       5.25      8.128       357        80.97       649
175,001--200,000         128     23,961,724       7.61      8.106       357        80.24       655
200,001--225,000         104     22,124,537       7.03      8.032       357        79.88       658
225,001--250,000          83     19,692,942       6.25      7.816       357        80.00       659
250,001--275,000          76     19,848,795       6.30      7.874       357        80.59       657
275,001--300,000          61     17,471,295       5.55      7.976       357        80.12       660
300,001--325,000          47     14,647,309       4.65      7.713       357        80.21       662
325,001--350,000          35     11,790,327       3.74      7.945       357        80.00       665
350,001--375,000          43     15,540,064       4.93      7.838       357        79.88       669
375,001--400,000          45     17,556,825       5.58      7.832       357        79.08       669
400,001--425,000          33     13,691,698       4.35      7.922       356        80.00       658
425,001--450,000          31     13,578,027       4.31      7.686       357        79.98       651
450,001--475,000          23     10,605,711       3.37      8.046       357        80.49       675
475,001--500,000          33     16,203,570       5.15      7.866       356        78.63       657
500,001--750,000          60     34,920,673      11.09      7.843       357        80.10       669
750,001--1,000,000         3      2,326,326       0.74      8.640       353        80.53       736
----------------------------------------------------------------------------------------------------
Total:                 1,321    314,904,178     100.00      7.996       357        80.13       658
----------------------------------------------------------------------------------------------------


Minimum: 47,925
Maximum: 780,000
Average: 238,383

STATED ORIGINAL TERM (MONTHS)



                                              % of
                                           Mortgage
                                            Pool by
                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                     of          Date         Date       Gross    Remaining   Combined    Average
Stated Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------

180                     1         99,889       0.03      7.600       177        80.00       692
240                     1         64,343       0.02      7.390       237        71.10       661
360                 1,319    314,739,947      99.95      7.996       357        80.13       658
-------------------------------------------------------------------------------------------------
Total:              1,321    314,904,178     100.00      7.996       357        80.13       658
-------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 360

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                                1         99,889       0.03      7.600        177       80.00       692
229--240                                1         64,343       0.02      7.390        237       71.10       661
349--360                            1,319    314,739,947      99.95      7.996        357       80.13       658
-----------------------------------------------------------------------------------------------------------------
Total:                              1,321    314,904,178     100.00      7.996        357       80.13       658
-----------------------------------------------------------------------------------------------------------------


Minimum: 177
Maximum: 359
Weighted Average: 357

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                           Mortgage
                                                           Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

45.01--50.00                            1        399,475       0.13      8.125        358     49.38        661
55.01--60.00                            1        233,539       0.07      8.140        357     60.00        564
65.01--70.00                            2        597,135       0.19      7.496        358     69.11        662
70.01--75.00                           10      2,268,918       0.72      8.510        352     72.88        641
75.01--80.00                        1,234    299,412,611      95.08      7.939        357     79.95        660
80.01--85.00                           27      5,086,071       1.62      9.256        356     84.46        619
85.01--90.00                           40      5,901,343       1.87      9.351        357     89.70        615
90.01--95.00                            6      1,005,085       0.32      9.695        357     94.88        594
----------------------------------------------------------------------------------------------------------------
Total:                              1,321    314,904,178     100.00      7.996        357     80.13        658
----------------------------------------------------------------------------------------------------------------


Minimum: 49.38
Maximum: 95.00
Weighted Average: 80.13

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  59     10,601,925       3.37      8.188       355        79.27       645
<= 3.500                          16      3,076,876       0.98      7.609       358        78.71       671
3.501--4.000                      12      2,945,081       0.94      7.250       357        80.00       692
4.001--4.500                      18      5,130,001       1.63      7.541       358        80.00       685
4.501--5.000                      73     19,488,101       6.19      7.921       357        80.16       662
5.001--5.500                     120     37,566,583      11.93      8.015       356        80.27       669
5.501--6.000                     190     44,660,839      14.18      7.886       356        79.88       660
6.001--6.500                     313     76,603,050      24.33      7.743       357        80.14       658
6.501--7.000                     149     35,581,429      11.30      7.716       357        80.13       665
7.001--7.500                     313     64,231,503      20.40      8.405       357        80.47       648
7.501--8.000                      42     10,952,588       3.48      8.688       357        80.03       639
8.001--8.500                      12      3,330,077       1.06      9.120       357        78.71       635
8.501--9.000                       2        320,539       0.10      9.279       356        87.16       617
9.001--9.500                       2        415,588       0.13      9.370       358        80.00       639
------------------------------------------------------------------------------------------------------------
Total:                         1,321    314,904,178     100.00      7.996       357        80.13       658
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum:   2.250
Maximum: 9.240
Non-Zero Weighted Average: 6.290

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       59     10,601,925       3.37      8.188       355        79.27       645
5.501--6.000                            4      1,288,866       0.41      7.686       353        78.87       662
6.001--6.500                           19      5,252,587       1.67      6.438       356        80.00       673
6.501--7.000                          103     28,602,892       9.08      6.872       356        80.07       665
7.001--7.500                          187     51,471,272      16.35      7.306       357        79.81       667
7.501--8.000                          370     94,070,715      29.87      7.804       357        79.95       665
8.001--8.500                          226     54,602,717      17.34      8.278       357        79.84       654
8.501--9.000                          180     39,281,314      12.47      8.773       357        80.47       649
9.001--9.500                           84     17,973,033       5.71      9.244       357        80.97       654
9.501--10.000                          51      7,948,134       2.52      9.793       357        81.63       621
10.001 -10.500                         19      1,987,969       0.63     10.231       357        85.32       576
10.501--11.000                         16      1,495,946       0.48     10.701       357        86.09       571
11.001--11.500                          3        326,809       0.10     11.157       355        84.28       534
-----------------------------------------------------------------------------------------------------------------
Total:                              1,321    314,904,178     100.00      7.996       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.250
Non-Zero Weighted Average: 7.979

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       59     10,601,925       3.37      8.188       355        79.27       645
<= 12.500                              15      5,234,503       1.66      7.034       355        80.20       688
12.501--13.000                         31      9,795,774       3.11      7.308       355        80.00       675
13.001--13.500                         42     11,934,682       3.79      7.260       356        80.00       668
13.501--14.000                        112     29,987,677       9.52      7.201       356        80.00       658
14.001--14.500                        182     50,049,353      15.89      7.438       357        79.89       666
14.501--15.000                        345     86,702,646      27.53      7.837       357        79.99       664
15.001--15.500                        209     48,493,353      15.40      8.296       357        79.80       652
15.501--16.000                        172     35,757,266      11.35      8.789       357        80.50       649
16.001--16.500                         76     15,796,760       5.02      9.267       357        80.91       656
16.501--17.000                         46      6,954,442       2.21      9.813       357        81.36       622
17.001--17.500                         14      1,565,701       0.50     10.221       358        86.76       572
17.501--18.000                         14      1,358,561       0.43     10.707       357        86.70       576
18.001--18.500                          3        326,809       0.10     11.157       355        84.28       534
23.501--24.000                          1        344,727       0.11      8.350       356        80.00       596
-----------------------------------------------------------------------------------------------------------------
Total:                              1,321    314,904,178     100.00      7.996       357        80.13       658
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.700
Maximum: 23.690
Non-Zero Weighted Average: 14.809

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date          Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans                59     10,601,925       3.37      8.188       355        79.27       645
1.500                          214     51,329,590      16.30      8.011       357        80.13       661
2.000                          251     67,766,607      21.52      7.898       357        80.13       665
3.000                          795    184,927,371      58.72      8.016       357        80.17       655
6.000                            2        278,686       0.09      7.752       358        80.00       645
----------------------------------------------------------------------------------------------------------
Total:                       1,321    314,904,178     100.00      7.996       357        80.13       658
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 6.000
Non-Zero Weighted Average: 2.527

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                         Aggregate     Aggregate   Weighted    Weighted   Weighted
                               Number     Cut-off       Cut-off    Average     Average     Average   Weighted
                                of         Date          Date       Gross     Remaining   Combined    Average
                              Mortgage   Principal     Principal   Interest     Term      Original     FICO
Subsequent Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  59      10,601,925       3.37      8.188       355       79.27        645
1.000                            291      76,496,620      24.29      7.967       355       80.11        656
1.500                            964     225,149,397      71.50      7.997       357       80.17        659
2.000                              7       2,656,237       0.84      7.891       352       80.46        703
-------------------------------------------------------------------------------------------------------------
Total:                         1,321     314,904,178     100.00      7.996       357       80.13        658
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.379

MONTHS TO NEXT RATE ADJUSTMENT



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of         Date         Date       Gross     Remaining   Combined   Average
                                 Mortgage    Principal    Principal   Interest     Term      Original    FICO
Months to Next Rate Adjustment    Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     59      10,601,925      3.37       8.188       355       79.27        645
13                                    1         148,392      0.05       7.715       349       80.00        688
14                                    8       2,693,784      0.86       7.056       350       80.00        706
15                                   19       5,094,547      1.62       7.717       351       79.24        653
16                                   12       1,750,067      0.56       7.630       352       80.00        647
17                                   33       8,780,754      2.79       7.912       353       80.08        656
18                                   33       7,914,131      2.51       7.713       354       80.05        641
19                                   67      17,296,077      5.49       7.996       355       80.36        652
20                                  143      40,813,928     12.96       8.016       356       80.13        657
21                                  238      62,087,646     19.72       7.972       357       80.09        658
22                                  422      98,999,332     31.44       7.950       358       80.14        662
23                                   40       9,958,948      3.16       7.956       359       79.67        675
27                                    1         620,450      0.20       8.750       351       80.00        629
28                                    1          91,129      0.03       9.250       352       80.00        628
30                                    1          89,178      0.03       7.300       354       80.00        597
31                                    3         567,572      0.18       7.899       355       80.00        624
32                                   20       3,913,857      1.24       8.355       356       80.06        652
33                                   78      15,846,148      5.03       8.244       357       80.48        650
34                                  134      26,206,655      8.32       8.202       358       80.62        659
35                                    5         719,955      0.23       7.574       359       80.00        666
55                                    1         373,958      0.12       8.990       355       75.00        566
57                                    1         180,000      0.06       7.500       357       80.00        700
58                                    1         155,743      0.05       6.990       358       80.00        636
----------------------------------------------------------------------------------------------------------------
Total:                            1,321     314,904,178    100.00       7.996       357       80.13        658
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13
Maximum: 58
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                        % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted   Weighted    Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                               of          Date         Date       Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest     Term      Original    FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
------------------------------------------------------------------------------------------------------------

California                      356     128,505,653     40.81       7.812       357       79.90       666
Florida                         186      38,953,357     12.37       8.066       356       80.17       661
Illinois                         96      19,279,053      6.12       8.205       357       79.98       654
New York                         52      15,936,899      5.06       7.894       357       79.46       683
Arizona                          58      10,708,481      3.40       8.018       357       80.12       656
Nevada                           40      10,112,604      3.21       7.833       357       80.04       651
Texas                            57       7,207,307      2.29       8.302       356       79.91       653
Maryland                         24       6,824,714      2.17       7.606       357       80.08       659
Massachusetts                    27       6,347,343      2.02       8.060       357       80.18       634
Washington                       30       5,901,539      1.87       7.607       357       80.00       644
Hawaii                           12       5,585,554      1.77       7.970       357       80.22       683
Georgia                          34       5,516,700      1.75       8.268       357       80.50       644
Rhode Island                     21       5,126,909      1.63       8.126       357       80.33       652
Virginia                         20       4,847,978      1.54       8.229       357       80.15       635
Michigan                         46       4,716,388      1.50       8.800       357       81.08       620
Other                           262      39,333,699     12.49       8.383       357       81.03       638
------------------------------------------------------------------------------------------------------------
Total:                        1,321     314,904,178    100.00       7.996       357       80.13       658
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 46

OCCUPANCY



                                         % of
                                       Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
               Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                of          Date         Date       Gross     Remaining   Combined   Average
              Mortgage    Principal    Principal   Interest     Term      Original    FICO
 Occupancy     Loans     Balance ($)    Balance    Rate (%)   (months)      LTV       Score
---------------------------------------------------------------------------------------------

Primary         1,284    307,783,723      97.74      7.980       357        80.09      658
Second Home        22      5,159,137       1.64      8.474       358        80.09      683
Investment         15      1,961,319       0.62      9.128       357        85.95      640
---------------------------------------------------------------------------------------------
Total:          1,321    314,904,178     100.00      7.996       357        80.13      658
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                    Mortgage
                                                     Pool by
                                      Aggregate     Aggregate   Weighted   Weighted    Weighted
                            Number     Cut-off       Cut-off     Average    Average    Average    Weighted
                             of         Date          Date       Gross     Remaining   Combined   Average
                           Mortgage   Principal     Principal   Interest     Term      Original     FICO
     Property Type          Loans     Balance ($)    Balance    Rate (%)   (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      1,028    237,960,025      75.57      7.978       357       80.18        655
2-4 Family                      88     27,423,404       8.71      8.125       357       79.86        671
Condo                          112     25,236,713       8.01      8.072       357       80.12        667
Planned Unit Development        93     24,284,036       7.71      7.938       356       79.93        659
----------------------------------------------------------------------------------------------------------
Total:                       1,321    314,904,178     100.00      7.996       357       80.13        658
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                  Aggregate     Aggregate   Weighted    Weighted    Weighted
                        Number     Cut-off       Cut-off     Average    Average     Average    Weighted
                         of         Date          Date        Gross     Remaining   Combined   Average
                       Mortgage   Principal     Principal   Interest      Term      Original     FICO
   Loan Purpose         Loans     Balance ($)    Balance     Rate (%)   (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Purchase                 1,101    260,438,527      82.70      8.016        357        80.20       661
Refinance--Cashout         192     49,430,826      15.70      7.915        356        79.77       646
Refinance--Rate Term        28      5,034,826       1.60      7.733        356        79.82       643
-------------------------------------------------------------------------------------------------------
Total:                   1,321    314,904,178     100.00      7.996        357        80.13       658
-------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                   Aggregate     Aggregate   Weighted    Weighted    Weighted
                         Number     Cut-off       Cut-off    Average      Average    Average    Weighted
                          of         Date          Date       Gross      Remaining   Combined    Average
                        Mortgage   Principal     Principal   Interest      Term      Original     FICO
 Documentation Level      Loans    Balance ($)    Balance     Rate (%)   (months)      LTV       Score
--------------------------------------------------------------------------------------------------------

Stated Documentation        787    202,998,618      64.46      8.148        357        80.01       671
Full Documentation          487     97,827,729      31.07      7.731        357        80.40       634
Limited Documentation        47     14,077,831       4.47      7.634        356        79.93       637
--------------------------------------------------------------------------------------------------------
Total:                    1,321    314,904,178     100.00      7.996        357        80.13       658
--------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                        Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number     Cut-off       Cut-off    Average     Average    Average    Weighted
                  of         Date         Date      Gross      Remaining   Combined    Average
               Mortgage   Principal     Principal   Interest     Term      Original    FICO
Credit Score     Loans    Balance ($)    Balance    Rate (%)   (months)      LTV      Score
----------------------------------------------------------------------------------------------

500--524            10        934,676       0.30     10.533       357       79.60        512
525--549            18      2,112,298       0.67      9.686       357       83.55        537
550--574            29      3,346,879       1.06      9.584       357       82.21        562
575--599            66     11,150,010       3.54      8.393       357       81.74        589
600--624           248     56,082,257      17.81      8.041       357       80.29        614
625--649           324     74,536,069      23.67      8.050       357       80.13        636
650--674           267     69,017,564      21.92      7.953       357       79.76        661
675--699           155     42,139,436      13.38      7.845       356       79.91        685
700--724            97     25,672,444       8.15      7.777       357       79.92        711
725--749            55     14,209,930       4.51      7.806       357       80.10        735
750--774            34      9,664,048       3.07      7.798       357       80.09        760
775--799            16      5,414,619       1.72      7.588       357       80.00        782
800 +                2        623,948       0.20      7.135       353       80.00        806
----------------------------------------------------------------------------------------------
Total:           1,321    314,904,178     100.00      7.996       357       80.13        658
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 502
Maximum: 809
Non-Zero Weighted Average: 658

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET SIMULTANEOUS SECONDS                                     1,321 records
                                                           Balance: $314,904,178
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest     Term      Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             296     67,844,094      21.54     8.288        357        80.20       663
6                               9      2,351,625       0.75     7.936        357        78.31       682
12                            100     30,726,706       9.76     8.152        357        79.76       669
24                            674    165,829,721      52.66     7.815        357        80.13       656
30                              3        528,053       0.17     9.097        358        83.07       632
36                            233     46,385,693      14.73     8.092        357        80.31       653
60                              6      1,238,287       0.39     8.286        357        80.00       618
---------------------------------------------------------------------------------------------------------
Total:                      1,321    314,904,178     100.00     7.996        357        80.13       658
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

LIEN POSITION



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average
          Lien            Mortgage    Principal    Principal   Interest     Term      Original     FICO
        Position            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

1st Lien                    1,321    314,904,178     100.00     7.996        357        80.13       658
---------------------------------------------------------------------------------------------------------
Total:                      1,321    314,904,178     100.00     7.996        357        80.13       658
---------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date         Date        Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Interest Only Term      Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             970    209,990,246     66.68      8.116        357        80.21       653
24                              1        210,400      0.07      8.250        358        80.00       628
36                              2        444,000      0.14      7.937        358        80.00       638
60                            346    103,980,846     33.02      7.752        357        79.96       669
120                             2        278,686      0.09      7.752        358        80.00       645
---------------------------------------------------------------------------------------------------------
Total:                      1,321    314,904,178    100.00      7.996        357        80.13       658
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
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there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
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notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATE                                                    4,207 records
                                                           Balance: $834,934,301
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                   % of
                                                                 Mortgage
                                                                 Pool by
                                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                          of         Date         Date        Gross    Remaining   Combined    Average
Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest     Term      Original     FICO
            Properties                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------------------------

Alabama                                     20      1,519,188      0.18       9.329        343       81.08      558
Alaska                                       1        133,713      0.02       9.150        356       80.00      659
Arizona                                    175     31,983,040      3.83       8.512        353       78.87      612
Arkansas                                    11      1,463,672      0.18       9.051        358       81.69      590
California                                 915    271,051,190     32.46       8.166        347       80.11      641
Colorado                                    55      8,053,445      0.96       8.508        347       81.52      630
Connecticut                                 74     14,903,474      1.78       8.554        356       78.40      616
Delaware                                    10      1,743,122      0.21       8.938        353       80.69      621
District of Columbia                         7      2,015,943      0.24       7.838        357       74.39      640
Florida                                    666    119,157,019     14.27       8.545        350       79.54      622
Georgia                                     92     13,333,788      1.60       8.939        356       82.98      614
Hawaii                                      27     11,337,657      1.36       8.095        357       78.34      652
Idaho                                       24      3,303,212      0.40       9.198        358       85.33      612
Illinois                                   323     57,253,943      6.86       8.729        351       81.62      622
Indiana                                     47      4,368,331      0.52       9.271        354       85.90      593
Iowa                                        13      1,436,424      0.17       9.099        354       78.52      602
Kansas                                      19      2,186,016      0.26       9.111        348       76.18      588
Kentucky                                    11        933,526      0.11       8.681        346       82.57      593
Louisiana                                   21      2,482,711      0.30       8.809        353       83.67      608
Maine                                        8      1,601,769      0.19       8.332        357       89.72      657
Maryland                                   115     25,717,947      3.08       8.335        356       78.32      613
Massachusetts                               90     20,615,447      2.47       8.671        355       81.80      617
Michigan                                   125     13,436,421      1.61       9.272        354       82.68      594
Minnesota                                   20      3,885,830      0.47       8.431        355       81.04      627
Mississippi                                  6        525,541      0.06      10.289        342       90.47      570
Missouri                                    66      7,492,887      0.90       9.323        356       84.41      596
Montana                                      1        297,455      0.04      10.150        359       73.46      566
Nebraska                                     4        323,119      0.04       9.080        358       87.25      612
Nevada                                      93     19,876,786      2.38       8.152        350       81.56      636
New Hampshire                                6      1,140,538      0.14       8.679        357       82.39      639
New Jersey                                  78     20,673,940      2.48       8.901        357       77.01      607
New Mexico                                  15      2,654,555      0.32       8.607        357       84.27      607
New York                                   139     41,732,227      5.00       8.075        356       76.69      650
North Carolina                              41      4,797,170      0.57       9.013        356       81.62      615
North Dakota                                 4        438,790      0.05       9.379        358       92.38      588
Ohio                                        50      4,958,808      0.59       9.482        350       84.45      596
Oklahoma                                    12      1,193,942      0.14       8.964        351       82.49      640
Oregon                                      48      8,388,711      1.00       8.274        355       79.82      606
Pennsylvania                               125     15,389,417      1.84       8.798        355       81.23      608
Rhode Island                                74     15,231,725      1.82       8.545        357       79.23      617
South Carolina                               9        699,965      0.08       9.491        357       84.47      642
South Dakota                                 1         85,158      0.01       8.950        357       63.19      514
Tennessee                                   64      7,215,692      0.86       9.170        356       82.74      609
Texas                                      267     26,645,529      3.19       8.714        343       81.65      615
Utah                                        15      2,950,694      0.35       8.559        357       80.61      630
Vermont                                      2        201,986      0.02       7.412        357       71.05      597
Virginia                                    99     17,526,643      2.10       8.716        353       78.29      608
Washington                                  87     16,283,977      1.95       8.239        351       80.51      606
Wisconsin                                   30      3,942,375      0.47       8.739        349       82.91      622
Wyoming                                      2        349,843      0.04       8.195        359       75.02      569
----------------------------------------------------------------------------------------------------------------------
Total:                                   4,207    834,934,301    100.00       8.458        351       80.13      626
----------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



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to you is conditioned on the securities and the underlying transaction having
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is not satisfied in any material respect, we will notify you, and neither the
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there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
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and it cannot be used by any taxpayer, for the purpose of avoiding penalties
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the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
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documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
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Alternatively, the depositor or any underwriter or any dealer participating in
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     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

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been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 2,137
Aggregate Principal Balance ($): 456,501,438
Weighted Average Current Mortgage Rate (%): 8.630
Non-Zero Weighted Average Margin (%): 6.445
Non-Zero Weighted Average Maximum Rate (%): 15.224
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 350
Weighted Average Combined Original LTV (%): 80.07
% First Liens: 95.49
% Owner Occupied: 92.03
% Purchase: 51.23
% Full Doc: 0.00
Non-Zero Weighted Average Credit Score: 641

ORIGINATOR



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date         Date        Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
Originator                         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Accredited                           275     60,106,369      13.17      8.412       357        76.80       645
Chapel                                12      2,933,597       0.64      8.062       349        77.07       620
Encore                               130     38,523,330       8.44      8.697       355        78.81       641
First Banc                            38      6,757,122       1.48      8.720       338        81.29       616
First Horizon                         54     11,882,443       2.60      9.632       357        82.83       642
First NLC                          1,049    194,581,094      42.62      8.591       346        80.65       639
Flex Point                             7      1,834,618       0.40      9.014       356        73.60       627
Funding America                       18      3,068,556       0.67      8.673       355        82.60       652
Lenders Direct                        23      4,814,082       1.05      8.483       346        79.73       615
Lime Financial                        25      8,184,410       1.79      8.388       346        83.57       649
Mandalay                              22      3,413,326       0.75      8.736       293        88.40       685
Master Financial                     116     25,919,562       5.68      8.868       333        84.74       644
Maxim                                  5        450,098       0.10     10.272       325        87.46       616
New Century                          255     65,895,089      14.43      8.640       358        80.04       646
Quick Loan                            13      4,513,317       0.99      7.984       356        72.44       607
Rose Mortgage                         95     23,624,426       5.18      8.806       356        78.43       632
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date         Date        Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
Product With IO Term               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed--10 Year                         3        201,206       0.04      9.549       118        72.57       609
Fixed--15 Year                         6        492,613       0.11      9.197       176        73.84       649
Fixed--20 Year                        12      1,090,927       0.24      8.229       237        74.17       668
Fixed--25 Year                         1         49,640       0.01     11.300       298        70.00       592
Fixed--30 Year                       185     24,411,069       5.35      9.063       357        77.04       638
Balloon--15/30                       251     16,711,404       3.66     11.665       176        99.79       661
Balloon--30/40                        20      4,401,476       0.96      8.007       358        72.86       641
ARM--2 Year/6 Month
   Balloon 30/40                     441    126,294,286      27.67      8.382       357        79.65       639
ARM--3 Year/6 Month
   Balloon 30/40                     107     24,143,185       5.29      8.557       357        80.34       634
ARM--1 Year/6 Month                    2        542,838       0.12      7.742       352        84.95       602
ARM--2 Year/6 Month                  592    127,016,868      27.82      8.842       357        79.60       629
ARM--3 Year/6 Month                  210     35,969,258       7.88      8.769       357        77.28       614
ARM--5 Year/6 Month                    9      1,636,220       0.36      8.762       357        78.50       625
Dual Amort--10/40--2
   Year/6 Month                        2        805,870       0.18      7.275       352        74.85       626
Interest Only ARM--2
   Year/6 Month--24 mo.
   IO term                             1        210,400       0.05      8.250       358        80.00       628
Interest Only ARM--3
   Year/6 Month--36 mo.
   IO term                             2        411,500       0.09      8.195       357        75.77       611
Interest Only Fixed--30
   Year--60 mo. IO term                8      2,564,635       0.56      7.959       357        79.47       661
Interest Only ARM--2
   Year/6 Month--60 mo.
   IO term                           233     74,464,820      16.31      8.036       357        79.75       668
Interest Only ARM--3
   Year/6 Month--60 mo.
   IO term                            49     14,491,224       3.17      7.984       357        81.94       675
Interest Only ARM--5
   Year/6 Month--60 mo.
   IO term                             1        180,000       0.04      7.500       357        80.00       700
Interest Only ARM--3
   Year/6 Month--120 mo.
   IO term                             1         92,000       0.02      7.250       359        80.00       652
Interest Only ARM--5
   Year/6 Month--120 mo.
   IO term                             1        320,000       0.07      8.000       357        80.00       656
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date         Date        Gross    Remaining   Combined    Average
Range of Gross Interest          Mortgage    Principal    Principal   Interest     Term      Original     FICO
Rates (%)                          Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

5.000--5.999                           1        270,882       0.06      5.990       350         90.00      614
6.000--6.999                          66     19,069,359       4.18      6.795       354         73.36      681
7.000--7.999                         530    147,864,163      32.39      7.657       357         78.10      664
8.000--8.999                         645    152,516,686      33.41      8.538       356         79.38      636
9.000--9.999                         430     90,069,447      19.73      9.493       356         81.40      614
10.000--10.999                       195     26,119,051       5.72     10.496       331         84.54      606
11.000--11.999                       162     13,849,188       3.03     11.529       239         91.84      627
12.000--12.999                        77      5,359,225       1.17     12.454       250         97.93      641
13.000--13.999                        29      1,275,104       0.28     13.415       232         99.62      636
14.000--14.999                         2        108,333       0.02     14.151       257        100.00      637
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350         80.07      641
----------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 14.240
Weighted Average: 8.630

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date         Date        Gross    Remaining   Combined    Average
Range of Cut-off Date            Mortgage    Principal    Principal   Interest     Term      Original     FICO
Principal Balance ($)              Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

1--25,000                             18        373,740       0.08     11.106       288        99.99       672
25,001--50,000                       120      4,741,224       1.04     11.712       233        97.31       647
50,001--75,000                       178     11,161,199       2.44     10.841       262        90.88       641
75,001--100,000                      178     15,659,888       3.43      9.800       310        84.99       638
100,001--125,000                     170     19,117,030       4.19      9.392       327        81.19       635
125,001--150,000                     181     24,981,276       5.47      8.903       350        77.31       630
150,001--175,000                     150     24,209,466       5.30      8.718       353        76.74       628
175,001--200,000                     179     33,763,061       7.40      8.666       356        78.27       632
200,001--225,000                     153     32,477,794       7.11      8.536       357        78.74       641
225,001--250,000                     137     32,538,347       7.13      8.618       356        79.34       626
250,001--275,000                      87     22,767,036       4.99      8.388       357        79.49       636
275,001--300,000                      94     27,069,477       5.93      8.410       357        79.05       634
300,001--325,000                      87     27,138,184       5.94      8.359       357        78.17       636
325,001--350,000                      69     23,290,335       5.10      8.338       357        80.20       645
350,001--375,000                      47     17,003,577       3.72      8.195       357        78.74       656
375,001--400,000                      60     23,393,126       5.12      8.148       357        79.79       654
400,001--425,000                      46     19,053,337       4.17      8.394       357        81.28       641
425,001--450,000                      34     14,918,631       3.27      8.097       357        80.80       642
450,001--475,000                      24     11,109,869       2.43      8.207       357        79.67       657
475,001--500,000                      36     17,698,267       3.88      8.295       357        79.78       654
500,001--750,000                      83     49,155,519      10.77      8.378       357        81.25       651
750,001--1,000,000                     6      4,881,055       1.07      8.630       355        81.55       682
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 1,000,000
Average: 213,618

STATED ORIGINAL TERM (MONTHS)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of         Date         Date        Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
----------------------------------------------------------------------------------------------------------------

120                                    3        201,206       0.04      9.549       118        72.57       609
180                                  257     17,204,017       3.77     11.594       176        99.05       661
240                                   12      1,090,927       0.24      8.229       237        74.17       668
300                                    1         49,640       0.01     11.300       298        70.00       592
360                                1,864    437,955,648      95.94      8.514       357        79.35       640
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date          Date       Gross    Remaining   Combined   Average
 Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest     Term      Original     FICO
           (months)                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

109--120                                 3        201,206       0.04      9.549       118        72.57       609
169--180                               257     17,204,017       3.77     11.594       176        99.05       661
229--240                                12      1,090,927       0.24      8.229       237        74.17       668
289--300                                 1         49,640       0.01     11.300       298        70.00       592
349--360                             1,864    437,955,648      95.94      8.514       357        79.35       640
------------------------------------------------------------------------------------------------------------------
Total:                               2,137    456,501,438     100.00      8.630       350        80.07       641
------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 350

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
 Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

10.01--15.00                              1       149,735       0.03      6.625       358        14.63      668
15.01--20.00                              2       359,256       0.08      8.722       356        18.18      555
20.01--25.00                              4       760,612       0.17      7.516       335        23.83      596
25.01--30.00                              3       298,969       0.07      7.581       283        26.94      639
30.01--35.00                              6     1,062,011       0.23      7.376       358        32.65      651
35.01--40.00                              9     2,086,175       0.46      8.241       357        38.61      613
40.01--45.00                             10     1,938,696       0.42      8.044       358        42.09      608
45.01--50.00                             19     3,391,712       0.74      8.484       357        47.67      601
50.01--55.00                             24     4,604,608       1.01      8.686       356        52.58      574
55.01--60.00                             33     5,648,094       1.24      8.038       354        58.21      596
60.01--65.00                             56    11,290,362       2.47      8.798       357        63.56      579
65.01--70.00                             85    19,517,924       4.28      8.976       357        68.82      587
70.01--75.00                            118    26,243,965       5.75      8.713       355        73.83      585
75.01--80.00                            997   253,862,492      55.61      8.203       357        79.86      658
80.01--85.00                            185    41,420,128       9.07      8.829       356        84.55      619
85.01--90.00                            196    47,155,703      10.33      9.098       356        89.57      635
90.01--95.00                             62    14,488,768       3.17      9.477       352        94.59      657
95.01--100.00                           327    22,222,228       4.87     11.476       223        99.97      664
------------------------------------------------------------------------------------------------------------------
Total:                                2,137   456,501,438     100.00      8.630       350        80.07      641
------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.07

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date         Date        Gross    Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)        Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       486     49,922,970      10.94      9.771       291        84.29      648
<= 3.500                                14      2,914,032       0.64      7.426       357        76.69      668
3.501--4.000                            10      2,564,538       0.56      7.283       357        78.87      675
4.001--4.500                            26      6,983,480       1.53      7.566       358        77.10      663
4.501--5.000                            63     16,719,402       3.66      8.114       357        80.03      663
5.001--5.500                           174     50,084,629      10.97      8.511       356        80.78      653
5.501--6.000                           216     53,670,032      11.76      8.632       356        78.98      638
6.001--6.500                           345     88,234,251      19.33      8.472       357        80.49      647
6.501--7.000                           254     63,920,782      14.00      8.310       357        78.24      634
7.001--7.500                           457     95,932,998      21.01      8.601       357        79.23      629
7.501--8.000                            61     16,826,283       3.69      8.844       357        79.72      625
8.001--8.500                            24      7,176,244       1.57      9.215       357        80.30      601
8.501--9.000                             4      1,080,237       0.24      9.403       356        91.16      621
9.001--9.500                             2        415,588       0.09      9.370       358        80.00      639
9.501--10.000                            1         55,974       0.01     12.999       358        80.00      593
------------------------------------------------------------------------------------------------------------------
Total:                               2,137    456,501,438     100.00      8.630       350        80.07      641
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.999
Non-Zero Weighted Average: 6.445

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates    Mortgage    Principal    Principal   Interest      Term     Original     FICO
             (%)                     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       486     49,922,970      10.94      9.771       291        84.29       648
5.501--6.000                             5      1,391,445       0.30      7.968       352        82.61       621
6.001--6.500                            10      2,661,602       0.58      6.821       354        73.91       672
6.501--7.000                            48     14,296,473       3.13      6.871       356        77.08       671
7.001--7.500                           134     39,719,878       8.70      7.326       357        77.80       671
7.501--8.000                           361    100,691,835      22.06      7.821       357        78.60       660
8.001--8.500                           260     68,406,179      14.98      8.297       357        79.56       647
8.501--9.000                           323     73,741,597      16.15      8.795       357        79.80       628
9.001--9.500                           200     46,636,573      10.22      9.282       357        81.47       624
9.501--10.000                          174     36,369,320       7.97      9.794       357        81.33       598
10.001 -10.500                          67     12,315,531       2.70     10.273       357        82.58       586
10.501--11.000                          47      7,324,782       1.60     10.759       357        81.67       596
11.001--11.500                          10      1,555,163       0.34     11.155       356        68.11       552
11.501--12.000                           4        452,590       0.10     11.806       357        68.66       522
12.001--12.500                           2        485,416       0.11     12.108       354        88.29       614
12.501--13.000                           6        530,084       0.12     12.838       358        90.78       654
------------------------------------------------------------------------------------------------------------------
Total:                               2,137    456,501,438     100.00      8.630       350        80.07       641
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.480

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date          Date       Gross    Remaining   Combined    Average
Range of Maximum Mortgage Rates    Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                    Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       486     49,922,970      10.94      9.771       291        84.29      648
<= 12.500                               12      4,275,257       0.94      6.831       354        71.62      665
12.501--13.000                          25      8,248,616       1.81      7.530       356        80.32      670
13.001--13.500                          28      9,290,860       2.04      7.748       356        78.08      664
13.501--14.000                          94     28,312,019       6.20      7.738       356        77.35      648
14.001--14.500                         161     47,081,030      10.31      7.680       357        78.35      663
14.501--15.000                         351     94,873,637      20.78      7.963       357        78.86      657
15.001--15.500                         251     63,112,328      13.83      8.445       357        80.06      642
15.501--16.000                         294     64,304,855      14.09      8.863       357        80.17      627
16.001--16.500                         175     39,086,097       8.56      9.311       357        81.58      626
16.501--17.000                         151     30,892,959       6.77      9.825       357        80.59      596
17.001--17.500                          52      9,405,818       2.06     10.266       358        81.83      580
17.501--18.000                          41      5,603,676       1.23     10.839       357        82.92      596
18.001--18.500                           8      1,085,963       0.24     11.193       356        73.27      557
18.501--19.000                           1         39,964       0.01     11.850       357       100.00      628
19.001--19.500                           2        485,416       0.11     12.108       354        88.29      614
19.501--20.000                           5        479,972       0.11     12.870       358        91.39      666
------------------------------------------------------------------------------------------------------------------
Total:                               2,137    456,501,438     100.00      8.630       350        80.07      641
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.200
Maximum: 19.999
Non-Zero Weighted Average: 15.224

INITIAL PERIODIC CAP (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of         Date          Date       Gross    Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Initial Periodic Cap (%)         Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       486     49,922,970      10.94      9.771        291     84.29        648
1.000                                    2        473,448       0.10      8.810        358     85.68        640
1.500                                  283     64,962,386      14.23      8.566        357     78.51        640
2.000                                  335     93,011,300      20.37      8.604        357     79.33        646
3.000                                1,029    247,719,335      54.26      8.428        357     79.90        637
5.000                                    1        320,000       0.07      8.000        357     80.00        656
6.000                                    1         92,000       0.02      7.250        359     80.00        652
------------------------------------------------------------------------------------------------------------------
Total:                               2,137    456,501,438     100.00      8.630        350     80.07        641
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.531

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  486     49,922,970      10.94      9.771       291        84.29       648
1.000                             422    117,391,173      25.72      8.634       356        80.04       634
1.500                           1,220    285,653,451      62.57      8.438       357        79.42       642
2.000                               9      3,533,844       0.77      7.872       352        74.92       677
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.360

MONTHS TO NEXT RATE ADJUSTMENT



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
       Months to Next         Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Rate Adjustment           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  486     49,922,970      10.94      9.771       291        84.29       648
4                                   2        542,838       0.12      7.742       352        84.95       602
13                                  1        148,392       0.03      7.715       349        80.00       688
14                                  8      2,986,661       0.65      7.119       350        79.86       687
15                                 12      4,130,457       0.90      7.996       351        76.76       659
16                                 17      4,162,736       0.91      8.685       352        77.57       610
17                                 27      8,339,072       1.83      8.328       353        81.92       639
18                                 32      7,770,922       1.70      8.635       354        80.43       627
19                                 77     20,970,933       4.59      8.453       355        80.09       634
20                                178     49,181,723      10.77      8.551       356        79.69       640
21                                332     89,598,416      19.63      8.515       357        79.76       639
22                                523    126,878,970      27.79      8.463       358        79.46       645
23                                 61     14,333,961       3.14      8.564       359        79.50       648
24                                  1        290,000       0.06      7.700       360        71.08       622
26                                  1        343,599       0.08      7.350       350        79.45       609
27                                  1        620,450       0.14      8.750       351        80.00       629
28                                  1         91,129       0.02      9.250       352        80.00       628
29                                  1         67,233       0.01      8.940       353        90.00       657
30                                  2        398,019       0.09      8.347       354        88.05       607
31                                 10      2,491,579       0.55      8.832       355        82.35       598
32                                 30      5,874,392       1.29      8.412       356        80.36       645
33                                127     25,539,477       5.59      8.578       357        79.39       621
34                                186     37,995,182       8.32      8.516       358        78.41       641
35                                 10      1,686,107       0.37      8.892       359        80.58       617
55                                  2        750,831       0.16      8.819       355        76.48       578
56                                  1        125,744       0.03      9.400       356        86.90       605
57                                  3        576,402       0.13      8.175       357        80.66       664
58                                  3        395,258       0.09      8.125       358        73.67       648
59                                  2        287,984       0.06      8.750       359        85.00       725
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 23

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
  Geographic Distribution     Mortgage    Principal    Principal   Interest      Term     Original     FICO
  of Mortgaged Properties       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------------

California                        587    173,926,946      38.10      8.352       346        80.26       649
Florida                           390     70,761,933      15.50      8.774       349        79.89       634
Illinois                          181     33,017,339       7.23      8.930       351        81.45       634
New York                           85     26,531,326       5.81      8.244       357        77.10       661
Arizona                           102     17,745,191       3.89      8.743       352        80.14       627
Texas                             112     11,472,448       2.51      8.913       343        81.35       637
Nevada                             58     11,420,585       2.50      8.549       346        82.34       646
Rhode Island                       53     10,753,482       2.36      8.780       357        78.54       626
New Jersey                         39     10,699,414       2.34      9.101       357        76.39       622
Massachusetts                      40      9,468,534       2.07      9.024       353        80.41       627
Maryland                           40      8,851,195       1.94      8.785       355        81.93       641
Virginia                           46      8,748,785       1.92      8.939       350        77.44       625
Hawaii                             17      7,954,223       1.74      8.231       357        78.31       658
Connecticut                        27      6,679,753       1.46      8.779       356        79.37       625
Michigan                           55      5,811,414       1.27      9.485       352        80.52       610
Other                             305     42,658,870       9.34      9.029       353        81.18       632
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 45

OCCUPANCY



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Occupancy              Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
-------------------------------------------------------------------------------------------------------------

Primary                         1,946    420,098,972      92.03      8.571       349        79.86       639
Investment                        158     28,121,069       6.16      9.380       357        82.12       654
Second Home                        33      8,281,397       1.81      9.097       355        83.74       663
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Property Type            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Single Family Residence         1,700    348,880,825      76.42      8.605       349        80.27       638
2-4 Family                        188     50,997,670      11.17      8.739       350        78.65       647
Condo                             142     30,210,516       6.62      8.761       350        81.40       653
Planned Unit Development          107     26,412,427       5.79      8.600       351        78.67       646
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Loan Purpose            Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Purchase                        1,163    233,880,805      51.23      8.589       345        82.64       667
Refinance--Cashout                900    208,848,377      45.75      8.665       355        77.26       613
Refinance--Rate Term               74     13,772,256       3.02      8.805       348        79.11       619
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                          % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Documentation Level         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Stated Documentation            2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------
Total:                          2,137    456,501,438     100.00      8.630       350        80.07       641
-------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

CREDIT SCORE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Credit Score              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

500--524                              65     12,713,809       2.79      9.756       356        69.41       513
525--549                             109     23,837,318       5.22      9.423       357        71.33       538
550--574                             120     23,907,214       5.24      9.080       357        74.98       563
575--599                             171     35,478,496       7.77      8.983       356        79.33       587
600--624                             286     63,520,523      13.91      8.735       350        80.69       613
625--649                             503     98,207,081      21.51      8.724       347        81.83       637
650--674                             384     82,657,748      18.11      8.394       346        81.39       661
675--699                             232     53,365,950      11.69      8.243       347        81.38       686
700--724                             116     27,236,019       5.97      8.106       349        81.23       710
725--749                              79     16,990,221       3.72      8.231       352        82.73       735
750--774                              47     12,089,296       2.65      8.078       349        81.25       760
775--799                              21      5,718,396       1.25      7.963       350        81.61       783
800 +                                  4        779,367       0.17      7.657       332        83.99       806
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 641

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                    588    115,245,479      25.25      9.030       351        80.97       640
6                                     11      2,891,604       0.63      8.357       357        77.75       652
12                                   144     43,038,343       9.43      8.416       355        78.29       659
24                                   888    210,258,884      46.06      8.419       352        79.97       639
30                                     5      1,010,989       0.22      9.260       357        79.13       612
36                                   483     81,599,805      17.88      8.721       339        80.32       637
48                                     1        145,964       0.03      8.500       359        36.50       529
60                                    17      2,310,370       0.51      8.708       352        75.57       625
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET STATED DOCUMENTATION                                     2,137 records
                                                           Balance: $456,501,438
--------------------------------------------------------------------------------

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Lien Position             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1st Lien                           1,814    435,923,582      95.49      8.486       356        79.14       640
2nd Lien                             323     20,577,857       4.51     11.679       208        99.81       662
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                  1,841    363,766,860      79.69      8.784       348        80.08       634
24                                     1        210,400       0.05      8.250       358        80.00       628
36                                     2        411,500       0.09      8.195       357        75.77       611
60                                   291     91,700,679      20.09      8.025       357        80.09       669
120                                    2        412,000       0.09      7.833       357        80.00       655
----------------------------------------------------------------------------------------------------------------
Total:                             2,137    456,501,438     100.00      8.630       350        80.07       641
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 5 ZIPS                                                  36 records
                                                            Balance: $13,006,931
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 36
Aggregate Principal Balance ($): 13,006,931
Weighted Average Current Mortgage Rate (%): 8.114
Non-Zero Weighted Average Margin (%): 5.953
Non-Zero Weighted Average Maximum Rate (%): 14.485
Weighted Average Stated Original Term (months): 355
Weighted Average Stated Remaining Term (months): 352
Weighted Average Combined Original LTV (%): 80.65
% First Liens: 97.30
% Owner Occupied: 95.20
% Purchase: 44.05
% Full Doc: 25.21
Non-Zero Weighted Average Credit Score: 645

ORIGINATOR




                                                               % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average      Average   Weighted
                                       of          Date         Date       Gross    Remaining    Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term      Original     FICO
   Originator                         Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
--------------------------------------------------------------------------------------------------------------------

Accredited                              3        1,209,541       9.30      8.230       358        80.20        640
Chapel                                  1          352,000       2.71      8.450       353        80.00        634
Encore                                  7        3,040,253      23.37      7.866       356        82.93        652
First Banc                              3          729,638       5.61      8.537       337        76.31        580
First NLC                              12        3,963,358      30.47      8.014       345        80.46        672
Lenders Direct                          2          604,020       4.64      8.763       354        73.07        613
Master Financial                        5        2,067,125      15.89      7.869       355        82.10        636
New Century                             2          741,732       5.70      8.891       358        88.04        641
Quick Loan                              1          299,265       2.30      8.500       356        60.00        537
--------------------------------------------------------------------------------------------------------------------
Total:                                 36       13,006,931     100.00      8.114       352        80.65        645
--------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM




                                                               % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average      Average   Weighted
                                       of          Date         Date       Gross    Remaining    Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term      Original     FICO
        Product with IO term          Loans    Balance ($)    Balance    Rate (%)    (months)       LTV       Score
--------------------------------------------------------------------------------------------------------------------

Fixed--30 Year                          1          394,621       3.03      7.000       357        69.40        684
Balloon--15/30                          4          350,951       2.70     11.230       176       100.00        637
ARM--2 Year/6 Month Balloon 30/40       7        2,847,457      21.89      7.487       356        81.52        657
ARM--3 Year/6 Month Balloon 30/40       2          894,124       6.87      8.087       358        81.29        649
ARM--2 Year/6 Month                    10        3,817,657      29.35      8.910       356        78.73        587
Interest Only ARM--2 Year/6             9        3,841,520      29.53      7.846       356        81.65        685
Month--60 mo. IO term
Interest Only ARM--3 Year/6             3          860,600       6.62      7.119       357        78.36        662
Month--60 mo. IO term
--------------------------------------------------------------------------------------------------------------------
Total:                                 36       13,006,931     100.00      8.114       352        80.65        645
--------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 5 ZIPS                                                  36 records
                                                            Balance: $13,006,931
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)




                                                              % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------------

6.000--6.999                            6        2,152,014      16.55      6.624       356        79.85       659
7.000--7.999                           13        5,186,146      39.87      7.598       357        80.00       661
8.000--8.999                            7        2,960,030      22.76      8.394       356        79.07       654
9.000--9.999                            6        2,186,379      16.81      9.679       351        80.98       575
10.000--10.999                          2          310,195       2.38     10.923       311        96.30       663
11.000--11.999                          2          212,167       1.63     11.675       176       100.00       649
--------------------------------------------------------------------------------------------------------------------
Total:                                 36       13,006,931     100.00      8.114       352        80.65       645
--------------------------------------------------------------------------------------------------------------------


Minimum: 6.000
Maximum: 11.790
Weighted Average: 8.114

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)




                                                              % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original      FICO
            Balances ($)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------------

50,001--75,000                          1           58,321       0.45      9.940       177       100.00       620
75,001--100,000                         2          177,770       1.37     11.291       177       100.00       630
100,001--125,000                        1          114,860       0.88     11.790       176       100.00       657
225,001--250,000                        2          463,332       3.56      8.828       357        87.44       693
275,001--300,000                        3          870,321       6.69      7.344       356        67.17       587
300,001--325,000                        4        1,231,908       9.47      7.978       355        77.84       616
325,001--350,000                        3        1,016,214       7.81      9.000       357        76.98       578
350,001--375,000                        2          711,760       5.47      7.965       356        76.33       640
375,001--400,000                        5        1,946,412      14.96      7.373       357        77.22       671
400,001--425,000                        1          424,000       3.26      8.120       357        80.00       758
425,001--450,000                        2          892,158       6.86      8.753       356        85.77       597
450,001--475,000                        2          906,842       6.97      8.074       356        79.86       670
475,001--500,000                        4        1,942,514      14.93      7.108       356        81.71       701
500,001--750,000                        4        2,250,520      17.30      8.769       357        86.45       622
--------------------------------------------------------------------------------------------------------------------
Total:                                 36       13,006,931     100.00      8.114       352        80.65       645
--------------------------------------------------------------------------------------------------------------------


Minimum: 58,321
Maximum: 700,739
Average: 361,304

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 5 ZIPS                                                  36 records
                                                            Balance: $13,006,931
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)




                                                            % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original      FICO
 Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

180                                   4          350,951       2.70     11.230       176       100.00       637
360                                  32       12,655,980      97.30      8.027       356        80.11       645
-----------------------------------------------------------------------------------------------------------------
Total:                               36       13,006,931     100.00      8.114       352        80.65       645
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 355

RANGE OF STATED REMAINING TERMS (MONTHS)




                                                            % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original      FICO
             (months)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                              4          350,951       2.70     11.230       176       100.00       637
349--360                             32       12,655,980      97.30      8.027       356        80.11       645
-----------------------------------------------------------------------------------------------------------------
Total:                               36       13,006,931     100.00      8.114       352        80.65       645
-----------------------------------------------------------------------------------------------------------------


Minimum: 176
Maximum: 358
Weighted Average: 352

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)




                                                            % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original      FICO
            Ratios (%)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

55.01--60.00                          1          299,265       2.30      8.500       356        60.00       537
65.01--70.00                          4        1,310,765      10.08      8.108       357        67.96       596
70.01--75.00                          2          643,816       4.95      7.269       357        72.72       623
75.01--80.00                         15        5,898,242      45.35      7.777       356        79.43       674
80.01--85.00                          5        2,110,691      16.23      8.168       358        84.32       622
85.01--90.00                          4        2,163,470      16.63      8.379       356        88.62       635
90.01--95.00                          1          229,732       1.77     10.900       358        95.00       679
95.01--100.00                         4          350,951       2.70     11.230       176       100.00       637
-----------------------------------------------------------------------------------------------------------------
Total:                               36       13,006,931     100.00      8.114       352        80.65       645
-----------------------------------------------------------------------------------------------------------------


Minimum: 60.00
Maximum: 100.00
Weighted Average: 80.65

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 5 ZIPS                                                  36 records
                                                            Balance: $13,006,931
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 5          745,572       5.73      8.991       272        83.80       662
3.501--4.000                     1          359,760       2.77      7.490       358        72.73       646
4.001--4.500                     1          340,000       2.61      7.875       358        85.00       657
4.501--5.000                     2          835,642       6.42      7.932       357        79.85       665
5.001--5.500                     9        3,987,680      30.66      7.916       356        83.87       645
5.501--6.000                     3        1,095,567       8.42      8.123       356        79.16       641
6.001--6.500                     7        2,336,285      17.96      8.163       356        80.76       633
6.501--7.000                     4        1,653,619      12.71      8.094       357        75.17       613
7.001--7.500                     3        1,303,447      10.02      8.040       357        79.06       709
8.001--8.500                     1          349,359       2.69      9.815       357        78.65       541
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.990
Maximum: 8.250
Non-Zero Weighted Average: 5.953

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Range of Minimum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Rates (%)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 5          745,572       5.73      8.991       272        83.80       662
5.501--6.000                     2          787,645       6.06      6.661       355        86.17       706
6.001--6.500                     1          287,000       2.21      6.490       357        69.16       632
6.501--7.000                     4        1,379,100      10.60      6.871       355        78.50       650
7.001--7.500                     5        1,871,147      14.39      7.402       357        78.60       666
7.501--8.000                     6        2,618,647      20.13      7.814       357        82.61       648
8.001--8.500                     6        2,450,250      18.84      8.270       356        78.41       660
8.501--9.000                     1          509,781       3.92      8.990       358        82.26       625
9.001--9.500                     2          775,670       5.96      9.271       356        78.24       573
9.501--10.000                    3        1,352,388      10.40      9.902       356        81.74       575
10.501--11.000                   1          229,732       1.77     10.900       358        95.00       679
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 10.900
Non-Zero Weighted Average: 8.012

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 5 ZIPS                                                  36 records
                                                            Balance: $13,006,931
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Range of Maximum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Rates (%)              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 5          745,572       5.73      8.991       272        83.80       662
<= 12.500                        3        1,056,970       8.13      6.399       356        79.69       655
12.501--13.000                   2          839,200       6.45      7.736       356        80.00       707
13.001--13.500                   1          443,343       3.41      8.250       357        85.00       592
13.501--14.000                   3        1,095,044       8.42      6.840       355        80.00       664
14.001--14.500                   7        2,522,413      19.39      7.679       356        76.59       646
14.501--15.000                   6        2,781,917      21.39      8.376       357        84.97       630
15.001--15.500                   4        1,682,496      12.94      8.396       357        77.37       681
15.501--16.000                   1          509,781       3.92      8.990       358        82.26       625
16.001--16.500                   1          448,815       3.45      9.250       355        86.54       601
16.501--17.000                   2          651,648       5.01      9.808       356        72.86       528
17.501--18.000                   1          229,732       1.77     10.900       358        95.00       679
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 17.900
Non-Zero Weighted Average: 14.485

INITIAL PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Initial Periodic Cap (%)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 5          745,572       5.73      8.991       272        83.80       662
1.500                            3        1,209,541       9.30      8.230       358        80.20       640
2.000                           10        4,104,304      31.55      7.995       357        83.62       647
3.000                           18        6,947,514      53.41      8.069       356        78.63       642
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.517

SUBSEQUENT PERIODIC CAP (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Subsequent Periodic          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Cap (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 5          745,572       5.73      8.991       272        83.80       662
1.000                           18        7,011,837      53.91      8.034       356        79.82       631
1.500                           13        5,249,522      40.36      8.095       357        81.29       661
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 5 ZIPS                                                  36 records
                                                            Balance: $13,006,931
--------------------------------------------------------------------------------

Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.214

MONTHS TO NEXT RATE ADJUSTMENT



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Months to Next Rate          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Adjustment                 Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 5          745,572       5.73      8.991       272        83.80       662
17                               3        1,130,831       8.69      7.571       353        80.00       653
19                               2          751,105       5.77      9.471       355        78.34       566
20                              10        4,101,062      31.53      7.863       356        81.30       666
21                               7        3,022,698      23.24      8.310       357        79.87       631
22                               4        1,500,939      11.54      8.282       358        81.41       627
33                               3          904,944       6.96      6.737       357        76.56       672
34                               2          849,781       6.53      8.544       358        83.36       638
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 17
Maximum: 34
Non-Zero Weighted Average: 22

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                      36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 1

OCCUPANCY



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined   Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Occupancy            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Primary                         34       12,382,578      95.20      8.097       351        80.74       643
Investment                       2          624,353       4.80      8.435       357        78.82       682
------------------------------------------------------------------------------------------------------------
Total:                          36       13,006,931     100.00      8.114       352        80.65       645
------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                         36 records
TERMSHEET TOP 5 ZIPS                                        Balance: $13,006,931
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type         Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       20       7,372,927      56.68      8.225         354       80.52      624
2-4 Family                    10       4,100,100      31.52      8.060         352       80.43      668
Planned Unit Development       2         839,200       6.45      7.736         356       80.00      707
Condo                          4         694,704       5.34      7.708         320       84.00      648
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose          Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Refinance--Cashout            17       6,882,191      52.91      8.286         357       80.55      608
Purchase                      18       5,730,118      44.05      7.983         345       81.54      686
Refinance--Rate Term           1         394,621       3.03      7.000         357       69.40      684
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

Stated Documentation          22       8,115,878      62.40      8.500         352       80.43      640
Full Documentation             9       3,278,595      25.21      7.386         352       81.52      657
Limited Documentation          5       1,612,458      12.40      7.650         349       79.95      646
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                         36 records
TERMSHEET TOP 5 ZIPS                                        Balance: $13,006,931
--------------------------------------------------------------------------------

CREDIT SCORE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Credit Score          Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

500--524                       1         302,289       2.32      9.800         355       66.16      514
525--549                       3         975,479       7.50      9.239         357       68.97      537
575--599                       3       1,126,845       8.66      7.796         357       79.04      590
600--624                       9       3,407,868      26.20      8.525         349       86.01      618
625--649                       6       2,082,948      16.01      7.918         347       78.74      633
650--674                       2         454,860       3.50      8.864         312       88.79      657
675--699                       4       1,392,697      10.71      7.778         357       79.47      685
700--724                       6       2,359,945      18.14      7.215         356       81.41      709
750--774                       2         904,000       6.95      8.117         356       80.00      764
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 514
Maximum: 770
Non-Zero Weighted Average: 645

PREPAYMENT PENALTY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

0                              1         229,732       1.77     10.900         358       95.00      679
12                             2         668,055       5.14      7.283         356       76.90      666
24                            23       9,144,397      70.30      8.209         355       79.89      640
36                            10       2,964,747      22.79      7.792         341       82.71      653
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 26

LIEN POSITION



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
          Lien             Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Position            Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

1st Lien                      32      12,655,980      97.30      8.027         356       80.11      645
2nd Lien                       4         350,951       2.70     11.230         176      100.00      637
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



                                                                  MORGAN STANLEY
IXIS 2006-HE3                                                         36 records
TERMSHEET TOP 5 ZIPS                                        Balance: $13,006,931
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                              of          Date         Date      Gross     Remaining   Combined   Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Interest Only Term       Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
----------------------------------------------------------------------------------------------------------

0                             24       8,304,811      63.85      8.341         349       80.42      624
60                            12       4,702,120      36.15      7.713         356       81.05      681
----------------------------------------------------------------------------------------------------------
Total:                        36      13,006,931     100.00      8.114         352       80.65      645
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 75
Aggregate Principal Balance ($): 24,149,941
Weighted Average Current Mortgage Rate (%): 8.115
Non-Zero Weighted Average Margin (%): 6.067
Non-Zero Weighted Average Maximum Rate (%): 14.627
Weighted Average Stated Original Term (months): 353
Weighted Average Stated Remaining Term (months): 349
Weighted Average Combined Original LTV (%): 80.27
% First Liens: 95.96
% Owner Occupied: 96.59
% Purchase: 49.66
% Full Doc: 28.14
Non-Zero Weighted Average Credit Score: 645

ORIGINATOR



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of          Date         Date       Gross    Remaining   Combined    Average
                                      Mortgage    Principal    Principal   Interest      Term     Original     FICO
             Originator                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Accredited                                8        2,695,106      11.16      8.046       358        79.59       652
Chapel                                    1          352,000       1.46      8.450       353        80.00       634
Encore                                    7        3,040,253      12.59      7.866       356        82.93       652
First Banc                                6        1,676,945       6.94      8.408       348        78.67       579
First NLC                                27        7,898,297      32.71      8.077       346        80.51       658
Funding America                           2          378,862       1.57      7.559       355        83.99       740
Lenders Direct                            2          604,020       2.50      8.763       354        73.07       613
Mandalay                                  1           85,839       0.36     10.850       175       100.00       777
Master Financial                         10        3,854,688      15.96      8.118       349        82.66       636
New Century                               7        2,557,459      10.59      7.915       357        82.50       670
Quick Loan                                2          573,834       2.38      8.859       356        60.21       531
Rose Mortgage                             2          432,637       1.79      8.789       273        63.06       574
---------------------------------------------------------------------------------------------------------------------
Total:                                   75       24,149,941     100.00      8.115       349        80.27       645
---------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                  % of
                                                               Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average      Average   Average    Weighted
                                         of         Date          Date      Gross     Remaining   Combined    Average
                                      Mortgage     Principal   Principal   Interest      Term     Original     FICO
      Product with IO term              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                            1          200,106       0.83      6.800       179        55.00       609
Fixed--30 Year                            5        1,146,465       4.75      8.707       356        80.44       629
Balloon--15/30                            9          793,522       3.29     11.425       176       100.00       653
Balloon--30/40                            1          351,488       1.46      7.990       355        80.00       699
ARM--2 Year/6 Month Balloon 30/40        16        6,023,094      24.94      7.624       357        80.54       651
ARM--3 Year/6 Month Balloon 30/40         4        1,529,494       6.33      8.039       357        80.75       622
ARM--2 Year/6 Month                      17        5,584,392      23.12      8.695       356        75.85       596
ARM--3 Year/6 Month                       1          381,696       1.58      9.240       356        85.00       533
Interest Only Fixed--30 Year--60
mo. IO term                               1          336,000       1.39      7.875       358        80.00       674
Interest Only ARM--2 Year/6
Month--60 mo. IO term                    16        6,547,086      27.11      7.743       356        82.06       686
Interest Only ARM--3 Year/6
Month--60 mo. IO term                     4        1,256,600       5.20      7.255       358        78.88       669
---------------------------------------------------------------------------------------------------------------------
Total:                                   75       24,149,941     100.00      8.115       349        80.27       645
---------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                  % of
                                                                Mortgage
                                                                Pool by
                                                  Aggregate    Aggregate   Weighted    Weighted   Weighted
                                       Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                         of          Date         Date       Gross     Remaining  Combined    Average
                                      Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Range of Gross Interest Rates (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------------------

6.000--6.999                             12        4,123,145      17.07      6.724       347        78.71       672
7.000--7.999                             28       10,405,672      43.09      7.653       357        79.69       665
8.000--8.999                             15        5,398,519      22.35      8.498       357        79.44       627
9.000--9.999                              8        2,842,644      11.77      9.579       352        79.54       565
10.000--10.999                            4          628,565       2.60     10.757       308        87.07       635
11.000--11.999                            8          751,396       3.11     11.656       220       100.00       652
---------------------------------------------------------------------------------------------------------------------
Total:                                   75       24,149,941     100.00      8.115       349        80.27       645
---------------------------------------------------------------------------------------------------------------------


Minimum: 6.000
Maximum: 11.990
Weighted Average: 8.115

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                    % of
                                                 Mortgage
                                                  Pool by
                                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                                      Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                        of          Date         Date      Gross     Remaining   Combined   Average
Range of Cut-off Date Principal      Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)                Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------------

50,001--75,000                             3        200,987       0.83     11.150       177       100.00       638
75,001--100,000                            5        416,497       1.72     11.193       209       100.00       679
100,001--125,000                           2        221,695       0.92     11.771       262       100.00       646
125,001--150,000                           1        136,841       0.57     11.990       176       100.00       643
175,001--200,000                           2        399,309       1.65      8.070       358        48.67       604
200,001--225,000                           2        418,345       1.73      7.739       272        59.35       558
225,001--250,000                           4        925,943       3.83      9.002       357        81.21       649
250,001--275,000                           3        801,512       3.32      8.509       357        70.08       571
275,001--300,000                           3        870,321       3.60      7.344       356        67.17       587
300,001--325,000                          12      3,740,139      15.49      7.855       356        80.55       632
325,001--350,000                           8      2,670,479      11.06      8.024       358        80.11       647
350,001--375,000                           4      1,414,920       5.86      7.930       356        78.15       655
375,001--400,000                           7      2,724,108      11.28      7.660       357        78.71       653
400,001--425,000                           3      1,245,500       5.16      8.434       357        83.29       687
425,001--450,000                           3      1,325,240       5.49      8.471       356        83.89       607
450,001--475,000                           2        906,842       3.76      8.074       356        79.86       670
475,001--500,000                           6      2,933,380      12.15      7.078       356        82.16       703
500,001--750,000                           5      2,797,884      11.59      8.616       357        85.19       626
--------------------------------------------------------------------------------------------------------------------
Total:                                    75     24,149,941     100.00      8.115       349        80.27       645
--------------------------------------------------------------------------------------------------------------------


Minimum: 58,321
Maximum: 700,739
Average: 321,999

STATED ORIGINAL TERM (MONTHS)



                                                                 % of
                                                               Mortgage
                                                               Pool by
                                                 Aggregate     Aggregate  Weighted    Weighted   Weighted
                                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                         of         Date         Date       Gross    Remaining   Combined    Average
                                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------------------------

180                                     10          993,627       4.11     10.493       177        90.94       644
360                                     65       23,156,314      95.89      8.013       357        79.81       645
--------------------------------------------------------------------------------------------------------------------
Total:                                  75       24,149,941     100.00      8.115       349        80.27       645
--------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 353

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                              % of
                                            Mortgage
                                            Pool by
                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Range of Stated      of          Date         Date       Gross    Remaining   Combined   Average
   Remaining      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Terms (months)     Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------

169--180             10          993,627       4.11     10.493       177        90.94       644
349--360             65       23,156,314      95.89      8.013       357        79.81       645
-------------------------------------------------------------------------------------------------
Total:               75       24,149,941     100.00      8.115       349        80.27       645
-------------------------------------------------------------------------------------------------


Minimum: 175
Maximum: 358
Weighted Average: 349

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                % of
                                              Mortgage
                                              Pool by
                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
Range of Combined      of          Date         Date       Gross    Remaining   Combined   Average
   Original LTV     Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Ratios (%)       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------

30.01--35.00            1          199,537       0.83      7.340       357        31.75       673
50.01--55.00            1          200,106       0.83      6.800       179        55.00       609
55.01--60.00            1          299,265       1.24      8.500       356        60.00       537
60.01--65.00            2          492,809       2.04      8.962       357        61.72       519
65.01--70.00            7        1,998,012       8.27      8.499       357        68.20       574
70.01--75.00            2          643,816       2.67      7.269       357        72.72       623
75.01--80.00           34       12,589,009      52.13      7.695       356        79.73       669
80.01--85.00            7        2,798,248      11.59      8.383       357        84.48       610
85.01--90.00            8        3,723,389      15.42      8.203       356        88.68       651
90.01--95.00            1          229,732       0.95     10.900       358        95.00       679
95.01--100.00          11          976,019       4.04     11.427       210       100.00       658
---------------------------------------------------------------------------------------------------
Total:                 75       24,149,941     100.00      8.115       349        80.27       645
---------------------------------------------------------------------------------------------------


Minimum: 31.75
Maximum: 100.00
Weighted Average: 80.27

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average    Weighted
                      of          Date         Date       Gross    Remaining   Combined    Average
Range of Gross     Mortgage    Principal    Principal   Interest      Term     Original      FICO
 Margins (%)        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Fixed Rate Loans      17        2,827,580      11.71      9.147       293        84.02       649
3.501--4.000           2          685,693       2.84      7.209       358        76.19       683
4.001--4.500           2          658,000       2.72      7.694       358        82.58       679
4.501--5.000           5        2,167,760       8.98      7.917       356        79.94       648
5.001--5.500           9        3,987,680      16.51      7.916       356        83.87       645
5.501--6.000          10        3,364,897      13.93      7.745       356        80.27       652
6.001--6.500           9        3,227,285      13.36      7.925       357        81.48       661
6.501--7.000          12        3,872,965      16.04      8.086       357        72.46       601
7.001--7.500           6        2,215,026       9.17      8.021       357        81.29       688
7.501--8.000           1          381,696       1.58      9.240       356        85.00       533
8.001--8.500           2          761,359       3.15      9.369       357        79.38       602
--------------------------------------------------------------------------------------------------
Total:                75       24,149,941     100.00      8.115       349        80.27       645
--------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.899
Maximum: 8.250
Non-Zero Weighted Average: 6.067

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined   Average
 Range of Minimum    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Mortgage Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans        17        2,827,580      11.71      9.147       293        84.02       649
5.501--6.000             2          787,645       3.26      6.661       355        86.17       706
6.001--6.500             1          287,000       1.19      6.490       357        69.16       632
6.501--7.000             9        3,150,125      13.04      6.852       356        79.34       675
7.001--7.500             8        2,883,685      11.94      7.357       357        76.80       689
7.501--8.000            15        5,801,333      24.02      7.787       357        81.18       651
8.001--8.500             9        3,434,261      14.22      8.273       356        79.31       637
8.501--9.000             6        1,964,258       8.13      8.891       357        79.67       609
9.001--9.500             4        1,431,935       5.93      9.259       356        76.63       553
9.501--10.000            3        1,352,388       5.60      9.902       356        81.74       575
10.501--11.000           1          229,732       0.95     10.900       358        95.00       679
----------------------------------------------------------------------------------------------------
Total:                  75       24,149,941     100.00      8.115       349        80.27       645
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 10.900
Non-Zero Weighted Average: 7.950

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined   Average
 Range of Maximum    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Mortgage Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans        17        2,827,580      11.71      9.147       293        84.02       649
<= 12.500                3        1,056,970       4.38      6.399       356        79.69       655
12.501--13.000           2          839,200       3.47      7.736       356        80.00       707
13.001--13.500           1          443,343       1.84      8.250       357        85.00       592
13.501--14.000           8        2,866,070      11.87      6.838       356        80.00       683
14.001--14.500          10        3,534,950      14.64      7.563       357        75.69       671
14.501--15.000          16        6,182,843      25.60      8.069       357        81.65       637
15.001--15.500           8        2,941,076      12.18      8.437       357        77.18       632
15.501--16.000           5        1,746,018       7.23      8.928       357        81.71       621
16.001--16.500           2          830,511       3.44      9.245       355        85.83       570
16.501--17.000           2          651,648       2.70      9.808       356        72.86       528
17.501--18.000           1          229,732       0.95     10.900       358        95.00       679
----------------------------------------------------------------------------------------------------
Total:                  75       24,149,941     100.00      8.115       349        80.27       645
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.000
Maximum: 17.900
Non-Zero Weighted Average: 14.627

INITIAL PERIODIC CAP (%)



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
Initial Periodic   Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Cap (%)         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Fixed Rate Loans      17        2,827,580      11.71      9.147       293        84.02       649
1.500                  8        2,677,403      11.09      7.925       357        79.58       648
2.000                 15        5,979,316      24.76      7.938       357        83.24       649
3.000                 35       12,665,643      52.45      8.008       356        78.18       641
--------------------------------------------------------------------------------------------------
Total:                75       24,149,941     100.00      8.115       349        80.27       645
--------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.531

SUBSEQUENT PERIODIC CAP (%)



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
   Subsequent      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Periodic Cap (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Fixed Rate Loans      17        2,827,580      11.71      9.147       293        84.02       649
1.000                 28       10,683,503      44.24      8.013       356        79.72       628
1.500                 30       10,638,858      44.05      7.944       357        79.83       661
--------------------------------------------------------------------------------------------------
Total:                75       24,149,941     100.00      8.115       349        80.27       645
--------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.249

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

MONTHS TO NEXT RATE ADJUSTMENT



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                       Number     Cut-off      Cut-off    Average     Average     Average   Weighted
                         of        Date          Date      Gross     Remaining   Combined   Average
Months to Next Rate   Mortgage   Principal    Principal   Interest      Term     Original     FICO
     Adjustment         Loans   Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

Fixed Rate Loans          17      2,827,580      11.71      9.147        293       84.02       649
17                         4      1,449,128       6.00      7.413        353       80.00       651
19                         4      1,372,910       5.68      8.738        355       81.41       619
20                        14      5,986,874      24.79      7.823        356       81.58       658
21                        13      4,841,375      20.05      8.271        357       76.82       630
22                        14      4,504,284      18.65      7.895        358       79.46       656
31                         1        319,568       1.32      8.250        355       80.00       533
32                         1        381,696       1.58      9.240        356       85.00       533
33                         3        904,944       3.75      6.737        357       76.56       672
34                         4      1,561,582       6.47      8.119        358       81.83       649
----------------------------------------------------------------------------------------------------
Total:                    75     24,149,941     100.00      8.115        349       80.27       645
----------------------------------------------------------------------------------------------------


Non-Zero Minimum: 17
Maximum: 34
Non-Zero Weighted Average: 22

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                of         Date          Date      Gross     Remaining   Combined   Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

California                      67       21,880,252      90.60      8.119        350       80.70       644
New York                         8        2,269,690       9.40      8.080        341       76.18       651
------------------------------------------------------------------------------------------------------------
Total:                          75       24,149,941     100.00      8.115        349       80.27       645
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 2

OCCUPANCY



                                         % of
                                       Mortgage
                                       Pool by
                         Aggregate    Aggregate   Weighted    Weighted   Weighted
              Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                of         Date          Date      Gross     Remaining   Combined   Average
             Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Occupancy     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------

Primary         72       23,326,051      96.59      8.113        349       80.73       643
Investment       3          823,891       3.41      8.170        357       67.42       680
--------------------------------------------------------------------------------------------
Total:          75       24,149,941     100.00      8.115        349       80.27       645
--------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of         Date          Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       56       17,602,103      72.89      8.206        349       80.66       635
2-4 Family                    10        4,100,100      16.98      8.060        352       80.43       668
Planned Unit Development       4        1,357,034       5.62      7.470        355       72.91       688
Condo                          5        1,090,704       4.52      7.651        334       82.54       661
----------------------------------------------------------------------------------------------------------
Total:                        75       24,149,941     100.00      8.115        349       80.27       645
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of         Date          Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Purchase                  41       11,991,886      49.66      7.950        344       82.12       677
Refinance--Cashout        32       11,268,434      46.66      8.374        354       78.43       603
Refinance--Rate Term       2          889,621       3.68      7.056        358       78.69       734
------------------------------------------------------------------------------------------------------
Total:                    75       24,149,941     100.00      8.115        349       80.27       645
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of         Date          Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Stated Documentation       49      15,246,338      63.13      8.355        349       80.57       649
Full Documentation         20       6,795,280      28.14      7.772        349       79.71       635
Limited Documentation       6       2,108,324       8.73      7.482        350       79.96       644
------------------------------------------------------------------------------------------------------
Total:                     75      24,149,941     100.00      8.115        349       80.27       645
------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of         Date          Date       Gross    Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

500--524           4        1,050,041       4.35      9.079       357        64.98       518
525--549           7        2,109,046       8.73      9.187       356        73.33       536
575--599           4        1,463,660       6.06      7.841       357        81.56       591
600--624          13        4,299,959      17.81      8.451       339        84.31       618
625--649          17        5,591,542      23.15      8.058       346        81.97       636
650--674           8        1,972,412       8.17      8.396       341        77.83       663
675--699           7        2,467,972      10.22      7.747       357        79.70       688
700--724           8        3,003,877      12.44      7.211       356        81.11       710
725--749           2          378,862       1.57      7.559       355        83.99       740
750--774           4        1,726,730       7.15      7.564       357        81.75       766
775--799           1           85,839       0.36     10.850       175       100.00       777
----------------------------------------------------------------------------------------------
Total:            75       24,149,941     100.00      8.115       349        80.27       645
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 512
Maximum: 777
Non-Zero Weighted Average: 645

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                             of         Date          Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

0                             3          825,503       3.42      8.785       358        80.68       646
12                           11        3,559,474      14.74      8.009       347        78.94       660
24                           44       15,324,007      63.45      8.081       353        79.72       647
36                           17        4,440,957      18.39      8.193       337        83.17       622
---------------------------------------------------------------------------------------------------------
Total:                       75       24,149,941     100.00      8.115       349        80.27       645
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 24

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
              of          Date         Date       Gross    Remaining   Combined    Average
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------

1st Lien      64       23,173,922      95.96      7.976       355        79.44       644
2nd Lien      11          976,019       4.04     11.427       210       100.00       658
------------------------------------------------------------------------------------------
Total:        75       24,149,941     100.00      8.115       349        80.27       645
------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET TOP 10 ZIPS                                                 75 records
                                                            Balance: $24,149,941
--------------------------------------------------------------------------------

INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

0                       54       16,010,256      66.30      8.340        345       79.66       625
60                      21        8,139,686      33.70      7.673        357       81.48       683
----------------------------------------------------------------------------------------------------
Total:                  75       24,149,941     100.00      8.115        349       80.27       645
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 3,838
Aggregate Principal Balance ($): 646,001,394
Weighted Average Current Mortgage Rate (%): 8.568
Non-Zero Weighted Average Margin (%): 6.411
Non-Zero Weighted Average Maximum Rate (%): 15.193
Weighted Average Stated Original Term (months): 352
Weighted Average Stated Remaining Term (months): 349
Weighted Average Combined Original LTV (%): 79.80
%First Liens: 95.48
%Owner Occupied: 92.24
%Purchase: 41.37
%Full Doc: 43.74
Non-Zero Weighted Average Credit Score: 621

ORIGINATOR



                                                                % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Accredited                              482     83,324,676      12.90      8.600       356        77.09       614
Chapel                                   17      3,080,194       0.48      7.888       349        76.33       608
Encore                                  261     50,621,102       7.84      8.368       355        77.11       614
First Banc                               64     10,675,245       1.65      8.397       339        79.96       606
First Horizon                           192     27,403,767       4.24      9.125       357        84.14       615
First NLC                             1,740    274,761,743      42.53      8.597       347        80.79       623
Flex Point                               19      3,950,528       0.61      8.960       356        69.61       603
Funding America                          47      5,058,637       0.78      9.086       350        81.69       625
Lenders Direct                           46      6,765,698       1.05      8.684       321        80.64       623
Lime Financial                           47      7,189,869       1.11      8.444       332        85.11       643
Mandalay                                 32      4,493,760       0.70      8.783       294        85.23       672
Master Financial                        174     29,756,093       4.61      8.881       321        84.20       635
Maxim                                    14      1,307,680       0.20      9.421       328        85.84       616
New Century                             517     98,152,114      15.19      8.318       358        79.36       628
Quick Loan                               30      6,774,060       1.05      8.271       356        70.15       574
Rose Mortgage                           156     32,686,227       5.06      8.545       356        77.07       611
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80       621
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Product with IO term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                            7        496,311       0.08      8.252       117        64.85       631
Fixed--15 Year                           23      1,940,686       0.30      8.448       177        69.52       634
Fixed--20 Year                           24      1,990,559       0.31      8.449       237        75.91       634
Fixed--25 Year                            3        245,515       0.04      8.559       298        84.90       622
Fixed--30 Year                          481     57,873,384       8.96      8.711       357        78.35       618
Balloon--15/30                          354     23,914,670       3.70     11.437       176        99.11       657
Balloon--30/40                           59     10,780,320       1.67      8.082       357        78.07       614
ARM--2 Year/6 Month Balloon 30/40       651    141,523,151      21.91      8.265       357        79.53       622
ARM--2 Year/6 Month Balloon 30/50         1        203,935       0.03      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40       197     37,231,455       5.76      8.462       357        80.10       613
ARM--1 Year/6 Month                       2        542,838       0.08      7.742       352        84.95       602
ARM--2 Year/6 Month                   1,135    193,380,777      29.94      8.716       357        78.57       609
ARM--3 Year/6 Month                     481     74,372,924      11.51      8.934       357        78.60       592
ARM--5 Year/6 Month                      12      1,990,884       0.31      8.472       357        76.09       631
Dual Amort--10/40--2 Year/6 Month         2        343,117       0.05      7.178       352        67.90       632
Interest Only ARM--2 Year/6
   Month--24 mo. IO term                  2        431,400       0.07      7.225       358        79.45       606
Interest Only ARM--3 Year/6
   Month--36 mo. IO term                  3        639,500       0.10      7.938       358        77.28       631
Interest Only Fixed--30 Year--60
   mo. IO term                           10      2,608,735       0.40      7.493       357        74.68       653
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                313     77,449,214      11.99      7.783       357        80.29       657
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                 69     16,128,994       2.50      7.826       357        80.84       669
Interest Only ARM--5 Year/6
   Month--60 mo. IO term                  4        825,900       0.13      7.223       358        74.02       676
Interest Only Fixed--30 Year--120
   mo. IO term                            1        331,000       0.05      6.750       357        79.95       638
Interest Only ARM--2 Year/6
   Month--120 mo. IO term                 1        186,686       0.03      8.000       358        80.00       641
Interest Only ARM--3 Year/6
   Month--120 mo. IO term                 1         92,000       0.01      7.250       359        80.00       652
Interest Only ARM--5 Year/6
   Month--120 mo. IO term                 2        477,439       0.07      8.188       357        83.29       646
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80       621
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                 % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

5.000--5.999                              4      1,142,614       0.18      5.897       356        68.44      662
6.000--6.999                            219     48,113,331       7.45      6.747       354        74.21      655
7.000--7.999                            973    204,408,397      31.64      7.623       356        78.34      644
8.000--8.999                          1,131    203,573,430      31.51      8.540       356        79.08      616
9.000--9.999                            757    117,464,302      18.18      9.542       354        80.84      588
10.000--10.999                          382     44,136,195       6.83     10.511       331        85.22      586
11.000--11.999                          234     19,223,609       2.98     11.523       253        90.95      616
12.000--12.999                           99      6,193,599       0.96     12.456       237        98.59      634
13.000--13.999                           37      1,637,585       0.25     13.410       219        99.71      628
14.000--14.999                            2        108,333       0.02     14.151       257       100.00      637
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80      621
-------------------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.568

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

1--25,000                               31         673,662       0.10     11.023       269        99.81      650
25,001--50,000                         217       8,609,762       1.33     11.184       254        93.39      633
50,001--75,000                         368      23,374,011       3.62     10.133       297        85.80      619
75,001--100,000                        411      36,041,776       5.58      9.306       326        82.48      613
100,001--125,000                       446      50,423,050       7.81      9.043       339        79.89      607
125,001--150,000                       401      55,346,959       8.57      8.770       351        78.26      608
150,001--175,000                       353      57,212,084       8.86      8.643       353        77.83      611
175,001--200,000                       344      64,684,246      10.01      8.466       356        78.47      617
200,001--225,000                       279      59,356,344       9.19      8.352       357        79.43      626
225,001--250,000                       241      57,191,618       8.85      8.343       357        78.87      620
250,001--275,000                       183      47,999,943       7.43      8.193       357        79.91      619
275,001--300,000                       163      46,951,780       7.27      8.179       356        79.05      623
300,001--325,000                       131      40,901,155       6.33      8.122       357        79.24      626
325,001--350,000                       109      36,783,058       5.69      8.248       357        80.75      631
350,001--375,000                        78      28,168,660       4.36      8.110       357        79.36      649
375,001--400,000                        83      32,283,287       5.00      8.097       357        80.32      643
-------------------------------------------------------------------------------------------------------------------
Total:                               3,838     646,001,394     100.00      8.568       349        79.80      621
-------------------------------------------------------------------------------------------------------------------


Minimum: 14,774
Maximum: 399,900
Average: 168,317

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

120                                       7        496,311       0.08      8.252       117        64.85      631
180                                     377     25,855,356       4.00     11.213       176        96.89      656
240                                      24      1,990,559       0.31      8.449       237        75.91      634
300                                       3        245,515       0.04      8.559       298        84.90      622
360                                   3,427    617,413,652      95.57      8.458       357        79.11      619
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80      621
-------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 352

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
 Range of Stated Remaining Terms    Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

109--120                                  7        496,311       0.08      8.252       117        64.85      631
169--180                                377     25,855,356       4.00     11.213       176        96.89      656
229--240                                 24      1,990,559       0.31      8.449       237        75.91      634
289--300                                  3        245,515       0.04      8.559       298        84.90      622
337--348                                  1         73,261       0.01     10.240       348        99.97      615
349--360                              3,426    617,340,392      95.56      8.458       357        79.10      619
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80      621
-------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 349

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
 Range of Combined Original LTV     Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

10.01--15.00                              1        149,735       0.02      6.625       358        14.63      668
15.01--20.00                              4        430,264       0.07      8.793       356        18.12      550
20.01--25.00                              7      1,072,051       0.17      7.404       327        23.60      599
25.01--30.00                              7        789,898       0.12      7.722       328        27.12      614
30.01--35.00                              8      1,258,495       0.19      7.747       358        32.73      636
35.01--40.00                             18      2,742,611       0.42      8.758       357        38.32      587
40.01--45.00                             39      6,037,573       0.93      8.033       354        42.50      587
45.01--50.00                             48      7,555,973       1.17      8.191       357        47.94      602
50.01--55.00                             52      9,112,755       1.41      8.376       350        52.91      580
55.01--60.00                             71     11,414,763       1.77      8.033       350        57.92      591
60.01--65.00                            116     20,238,207       3.13      8.719       355        63.34      574
65.01--70.00                            183     32,850,023       5.09      8.732       355        68.84      575
70.01--75.00                            264     47,148,288       7.30      8.568       354        73.90      573
75.01--80.00                          1,541    298,401,994      46.19      8.148       356        79.86      638
80.01--85.00                            400     68,976,837      10.68      8.718       356        84.54      603
85.01--90.00                            395     69,146,257      10.70      8.860       356        89.62      622
90.01--95.00                            178     31,540,815       4.88      9.006       354        94.71      642
95.01--100.00                           506     37,134,856       5.75     10.972       244        99.92      651
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80      621
-------------------------------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 79.80

RANGE OF GROSS MARGINS (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                       of          Date         Date      Gross     Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

ixed Rate Loans                         962    100,181,180      15.51      9.243       306        82.92      628
<= 3.500                                 23      4,716,794       0.73      7.651       357        75.16      656
3.501--4.000                             15      3,242,299       0.50      7.333       358        78.54      683
4.001--4.500                             32      7,139,466       1.11      7.690       358        76.37      637
4.501--5.000                             99     21,725,790       3.36      8.113       357        78.81      647
5.001--5.500                            275     58,448,007       9.05      8.309       356        80.31      627
5.501--6.000                            522     94,453,103      14.62      8.411       357        79.26      617
6.001--6.500                            633    119,528,597      18.50      8.240       357        80.35      628
6.501--7.000                            417     82,844,127      12.82      8.421       357        77.25      611
7.001--7.500                            747    130,632,351      20.22      8.765       357        79.28      610
7.501--8.000                             72     15,233,301       2.36      8.972       357        79.86      608
8.001--8.500                             30      5,994,616       0.93      9.270       357        76.48      565
8.501--9.000                              6      1,197,254       0.19      9.409       356        89.60      610
9.001--9.500                              4        608,535       0.09     10.003       357        81.06      607
9.501--10.000                             1         55,974       0.01     12.999       358        80.00      593
-------------------------------------------------------------------------------------------------------------------
Total:                                3,838    646,001,394     100.00      8.568       349        79.80      621
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.411

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

Non-Zero Minimum: 2.200
Maximum: 9.999
Non-Zero Weighted Average: 6.411

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      962    100,181,180      15.51      9.243       306        82.92       628
5.501--6.000                            9      2,568,473       0.40      7.021       354        75.81       654
6.001--6.500                           40      9,147,536       1.42      6.556       356        75.92       649
6.501--7.000                          146     31,674,233       4.90      6.868       357        76.20       652
7.001--7.500                          288     64,102,659       9.92      7.331       357        78.39       650
7.501--8.000                          569    120,472,169      18.65      7.817       357        78.92       639
8.001--8.500                          413     82,154,260      12.72      8.282       357        79.49       627
8.501--9.000                          526     95,982,863      14.86      8.801       357        78.99       607
9.001--9.500                          289     49,141,459       7.61      9.308       357        80.26       596
9.501--10.000                         320     53,269,393       8.25      9.793       357        80.59       578
10.001 -10.500                        129     17,288,039       2.68     10.285       357        82.74       566
10.501--11.000                        103     14,387,998       2.23     10.777       357        83.74       573
11.001--11.500                         25      3,609,194       0.56     11.207       357        72.33       548
11.501--12.000                         10      1,308,419       0.20     11.772       358        74.81       535
12.001--12.500                          3        183,435       0.03     12.236       358        86.57       568
12.501--13.000                          6        530,084       0.08     12.838       358        90.78       654
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80       621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.700
Maximum: 12.999
Non-Zero Weighted Average: 8.435

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest     Term      Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      962    100,181,180      15.51      9.243       306        82.92      628
<= 12.500                              40      9,937,169       1.54      6.887       355        75.84      641
12.501--13.000                         64     13,530,363       2.09      7.452       356        78.39      628
13.001--13.500                         85     19,284,615       2.99      7.356       356        77.53      634
13.501--14.000                        216     47,664,726       7.38      7.461       357        76.24      636
14.001--14.500                        296     64,310,466       9.96      7.570       357        78.33      647
14.501--15.000                        531    109,458,764      16.94      7.954       357        79.14      639
15.001--15.500                        383     74,103,989      11.47      8.386       357        79.57      624
15.501--16.000                        484     86,254,886      13.35      8.875       357        79.39      607
16.001--16.500                        253     41,756,636       6.46      9.346       357        81.02      597
16.501--17.000                        285     47,365,218       7.33      9.823       357        80.66      575
17.001--17.500                        112     15,453,521       2.39     10.325       357        81.91      563
17.501--18.000                         92     12,477,295       1.93     10.838       357        83.97      572
18.001--18.500                         21      2,692,761       0.42     11.216       357        76.37      546
18.501--19.000                          5        521,670       0.08     11.794       358        90.79      563
19.001--19.500                          3        183,435       0.03     12.236       358        86.57      568
19.501--20.000                          5        479,972       0.07     12.870       358        91.39      666
23.501--24.000                          1        344,727       0.05      8.350       356        80.00      596
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 10.990
Maximum: 23.690
Non-Zero Weighted Average: 15.193

INITIAL PERIODIC CAP (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Initial Periodic Cap (%)         Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      962    100,181,180      15.51      9.243       306        82.92      628
1.000                                   4        977,783       0.15      8.117       357        86.17      632
1.500                                 488     89,634,105      13.88      8.547       357        78.39      616
2.000                                 643    127,684,424      19.77      8.322       357        78.48      622
3.000                               1,737    326,767,778      50.58      8.466       357        79.72      619
5.000                                   2        477,439       0.07      8.188       357        83.29      646
6.000                                   2        278,686       0.04      7.752       358        80.00      645
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.519

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Subsequent Periodic Cap (%)       Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      962    100,181,180      15.51      9.243       306        82.92      628
1.000                                 792    155,414,612      24.06      8.463       356        79.21      614
1.500                               2,073    388,324,127      60.11      8.437       357        79.31      622
2.000                                  11      2,081,475       0.32      8.496       354        65.24      590
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.360

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      962    100,181,180      15.51      9.243       306        82.92      628
4                                       2        542,838       0.08      7.742       352        84.95      602
13                                      1        148,392       0.02      7.715       349        80.00      688
14                                      9      1,758,326       0.27      7.393       350        79.95      635
15                                     20      3,455,485       0.53      7.658       351        77.31      618
16                                     35      5,854,242       0.91      8.277       352        76.38      605
17                                     44      8,691,812       1.35      8.138       353        78.65      623
18                                     62     11,628,492       1.80      8.204       354        79.14      622
19                                    126     25,497,513       3.95      8.319       355        78.26      618
20                                    315     64,108,755       9.92      8.349       356        78.44      618
21                                    518    102,984,768      15.94      8.460       357        79.60      620
22                                    838    163,775,285      25.35      8.404       358        79.53      629
23                                    135     25,073,210       3.88      8.452       359        79.69      613
24                                      2        542,000       0.08      8.514       360        75.23      609
26                                      1        343,599       0.05      7.350       350        79.45      609
28                                      3        449,585       0.07      8.433       352        82.12      617
29                                      1         67,233       0.01      8.940       353        90.00      657
30                                      7      1,092,442       0.17      8.513       354        83.14      584
31                                     20      3,603,923       0.56      8.785       355        79.45      581
32                                     61     10,327,601       1.60      8.714       356        77.80      603
33                                    273     45,499,597       7.04      8.719       357        80.15      602
34                                    366     64,239,402       9.94      8.597       358        78.91      615
35                                     19      2,841,491       0.44      8.677       359        78.27      607
54                                      1        163,942       0.03      6.950       354        55.00      686
55                                      2        750,831       0.12      8.819       355        76.48      578
56                                      1        125,744       0.02      9.400       356        86.90      605
57                                      4        794,402       0.12      8.340       357        84.54      678
58                                      6      1,015,340       0.16      7.287       358        70.90      642
59                                      4        443,963       0.07      8.500       359        80.83      699
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 59
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
   Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Mortgaged Properties          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

California                            676    148,953,758      23.06      8.296       340        78.75      636
Florida                               647    108,304,132      16.77      8.586       350        79.61      621
Illinois                              316     54,030,776       8.36      8.759       351        81.73      619
Arizona                               167     27,768,326       4.30      8.540       353        79.02      614
Texas                                 267     26,645,529       4.12      8.714       343        81.65      615
New York                              104     24,411,344       3.78      8.100       355        73.52      642
Maryland                              110     23,070,161       3.57      8.424       356        78.20      612
Nevada                                 91     18,712,786       2.90      8.203       349        81.66      633
Massachusetts                          83     17,176,070       2.66      8.626       355        80.79      617
Washington                             86     15,882,919       2.46      8.219       350        80.27      606
New Jersey                             69     15,845,795       2.45      8.945       357        76.84      605
Virginia                               95     15,641,130       2.42      8.725       352        78.09      605
Pennsylvania                          124     14,957,813       2.32      8.798       355        81.27      607
Rhode Island                           72     14,323,607       2.22      8.646       357        79.19      615
Michigan                              124     12,996,765       2.01      9.304       354        82.77      596
Other                                 807    107,280,483      16.61      8.837       354        81.64      612
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 50

OCCUPANCY



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Occupancy              Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Primary                             3,512    595,853,365      92.24      8.530       349        79.61      618
Investment                            278     40,829,110       6.32      9.059       356        81.82      651
Second Home                            48      9,318,919       1.44      8.846       355        83.22      658
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

PROPERTY TYPE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Property Type            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Single Family Residence             3,165    523,545,274      81.04      8.567       349        79.97      618
2-4 Family                            235     45,332,849       7.02      8.680       348        77.03      634
Condo                                 251     40,437,547       6.26      8.584       348        81.12      639
Planned Unit Development              187     36,685,724       5.68      8.428       350        79.26      625
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Loan Purpose             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Refinance--Cashout                   1,930    344,794,594     53.37      8.537       354        76.86      598
Purchase                             1,693    267,229,619     41.37      8.636       342        83.53      652
Refinance--Rate Term                   215     33,977,180      5.26      8.353       351        80.30      611
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Documentation Level         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

Stated Documentation                1,906    338,884,760      52.46      8.737       347        79.81      637
Full Documentation                  1,782    282,539,048      43.74      8.367       352        79.56      602
Limited Documentation                 150     24,577,585       3.80      8.555       343        82.39      614
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80      621
-----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

CREDIT SCORE



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Credit Score            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

500--524                              271     42,563,376       6.59      9.574       356        71.72       512
525--549                              308     50,990,091       7.89      9.245       357        73.07       537
550--574                              334     55,126,342       8.53      9.014       357        77.31       562
575--599                              423     68,007,567      10.53      8.736       354        79.93       588
600--624                              668    113,558,662      17.58      8.401       349        81.07       612
625--649                              735    118,541,139      18.35      8.427       346        81.70       637
650--674                              484     85,537,819      13.24      8.248       345        81.94       661
675--699                              295     52,661,917       8.15      8.171       343        81.56       686
700--724                              148     27,733,560       4.29      8.017       344        82.10       710
725--749                               96     17,076,503       2.64      8.096       351        83.43       735
750--774                               47      8,170,020       1.26      8.230       345        83.46       758
775--799                               23      5,058,538       0.78      8.066       339        81.32       784
800 +                                   6        975,860       0.15      7.833       323        86.00       807
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80       621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 621

PREPAYMENT PENALTY TERM



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Prepayment Penalty Term        Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

0                                   1,126    177,809,512      27.52      8.838       350        80.62       618
6                                      12      2,270,752       0.35      8.523       358        75.65       634
12                                    183     41,416,288       6.41      8.373       352        76.85       639
24                                  1,494    275,847,593      42.70      8.357       352        79.66       623
30                                      7      1,406,947       0.22      9.452       357        82.36       609
36                                    956    139,241,458      21.55      8.675       342        80.18       618
48                                      1        145,964       0.02      8.500       359        36.50       529
60                                     59      7,862,880       1.22      8.849       353        76.52       580
-----------------------------------------------------------------------------------------------------------------
Total:                              3,838    646,001,394     100.00      8.568       349        79.80       621
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     11



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 400K BALANCES                                      3,838 records
                                                           Balance: $646,001,394
--------------------------------------------------------------------------------

LIEN POSITION



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
       Lien          Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Position         Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

1st Lien                3,378   616,827,605      95.48      8.430       356        78.87        619
2nd Lien                  460    29,173,789       4.52     11.483       208        99.52        657
----------------------------------------------------------------------------------------------------
Total:                  3,838   646,001,394     100.00      8.568       349        79.80        621
----------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                        of         Date          Date      Gross     Remaining   Combined   Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------------

0                      3,432    546,830,526     84.65       8.712        348       79.73       614
24                         2        431,400      0.07       7.225        358       79.45       606
36                         3        639,500      0.10       7.938        358       77.28       631
60                       396     97,012,843     15.02       7.777        357       80.18       659
120                        5      1,087,125      0.17       7.638        357       81.43       643
----------------------------------------------------------------------------------------------------
Total:                 3,838    646,001,394    100.00       8.568        349       79.80       621
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     12



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 730
Aggregate Principal Balance ($): 124,068,434
Weighted Average Current Mortgage Rate (%): 9.339
Non-Zero Weighted Average Margin (%): 6.652
Non-Zero Weighted Average Maximum Rate (%): 15.993
Weighted Average Stated Original Term (months): 359
Weighted Average Stated Remaining Term (months): 356
Weighted Average Combined Original LTV (%): 73.61
% First Liens: 99.94
% Owner Occupied: 97.88
% Purchase: 8.96
% Full Doc: 60.47
Non-Zero Weighted Average Credit Score: 531

ORIGINATOR



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
          Originator                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Accredited                             154      23,752,770      19.14      9.426       356        76.31       523
Chapel                                   4         766,103       0.62      8.198       351        64.97       522
Encore                                  60      10,971,110       8.84      9.142       356        69.48       536
First Banc                              14       2,570,411       2.07      8.694       347        69.07       523
First Horizon                           42       4,995,557       4.03      9.942       356        81.09       539
First NLC                              253      41,364,338      33.34      9.420       357        74.92       534
Flex Point                               8       1,565,989       1.26      9.466       356        59.87       530
Funding America                          7         794,154       0.64      9.122       355        67.47       532
Lenders Direct                           8       1,815,791       1.46      9.095       354        73.70       531
Lime Financial                           5         982,286       0.79      9.725       357        82.20       543
Mandalay                                 1         144,693       0.12      7.875       353        29.59       548
Master Financial                        19       4,415,422       3.56      9.176       356        74.84       527
Maxim                                    2         499,564       0.40      8.473       357        80.00       550
New Century                             98      17,360,447      13.99      9.234       358        71.48       531
Quick Loan                              13       2,804,577       2.26      8.717       357        60.27       527
Rose Mortgage                           42       9,265,221       7.47      9.473       357        73.40       532
-------------------------------------------------------------------------------------------------------------------
Total:                                 730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
       Product with IO term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                           2          86,724       0.07     10.378       178        72.51       540
Fixed--20 Year                           3         245,555       0.20      9.919       239        77.31       524
Fixed--30 Year                          92      12,049,899       9.71      9.710       357        74.14       531
Balloon--15/30                           2         163,090       0.13      8.553       176        77.54       512
Balloon--30/40                          12       1,690,208       1.36      9.272       358        77.83       525
ARM--2 Year/6 Month Balloon 30/40      118      27,129,611      21.87      9.002       357        73.36       532
ARM--3 Year/6 Month Balloon 30/40       39       6,937,842       5.59      9.248       357        78.34       536
ARM--2 Year/6 Month                    292      49,115,262      39.59      9.369       357        72.04       531
ARM--3 Year/6 Month                    167      26,106,252      21.04      9.499       357        75.06       529
ARM--5 Year/6 Month                      1          78,667       0.06      9.200       358        75.00       529
Interest Only ARM--2 Year/6              2         465,325       0.38      8.706       355        69.40       537
Month--60 mo. IO term
-------------------------------------------------------------------------------------------------------------------
Total:                                 730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                             4         849,835       0.68      6.649       356        63.57       529
7.000--7.999                            58      12,862,717      10.37      7.777       355        68.38       538
8.000--8.999                           197      36,416,206      29.35      8.664       357        71.96       533
9.000--9.999                           288      49,413,309      39.83      9.607       356        75.39       529
10.000--10.999                         143      18,829,100      15.18     10.504       357        76.67       527
11.000--11.999                          36       5,499,973       4.43     11.372       355        71.67       529
12.000--12.999                           4         197,294       0.16     12.290       358        80.07       530
-------------------------------------------------------------------------------------------------------------------
Total:                                 730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.190
Maximum: 12.530
Weighted Average: 9.339

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
 Range of Cut-off Date Principal    Mortgage    Principal    Principal   Interest      Term     Original      FICO
           Balances ($)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

25,001--50,000                          19         807,816       0.65     10.189       328        68.61       529
50,001--75,000                          66       4,226,854       3.41     10.071       353        73.28       528
75,001--100,000                         85       7,336,639       5.91      9.650       357        76.23       531
100,001--125,000                       103      11,735,094       9.46      9.460       354        74.14       529
125,001--150,000                       103      14,177,992      11.43      9.503       357        72.95       532
150,001--175,000                        80      12,982,648      10.46      9.485       357        72.55       532
175,001--200,000                        71      13,464,900      10.85      9.212       357        72.83       528
200,001--225,000                        40       8,531,401       6.88      9.206       357        71.30       534
225,001--250,000                        40       9,492,035       7.65      9.385       357        72.65       531
250,001--275,000                        31       8,094,138       6.52      9.219       357        74.95       532
275,001--300,000                        25       7,227,885       5.83      9.205       357        73.93       530
300,001--325,000                        18       5,632,921       4.54      8.748       356        68.55       533
325,001--350,000                        14       4,732,092       3.81      9.093       357        75.85       528
350,001--375,000                         5       1,821,462       1.47      9.579       357        76.72       530
375,001--400,000                         9       3,489,413       2.81      8.895       356        76.68       529
400,001--425,000                         6       2,483,499       2.00      9.093       357        76.40       536
425,001--450,000                         4       1,775,142       1.43      8.670       358        74.68       534
450,001--475,000                         1         467,227       0.38      8.999       357        61.58       508
475,001--500,000                         2         982,389       0.79      8.553       357        79.20       529
500,001--750,000                         8       4,606,887       3.71      9.553       357        78.44       536
-------------------------------------------------------------------------------------------------------------------
Total:                                 730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------------


Minimum: 26,276
Maximum: 647,690
Average: 169,957

STATED ORIGINAL TERM (MONTHS)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original      FICO
  Stated Original Term (months)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

180                                      4         249,814       0.20      9.186       177        75.79       522
240                                      3         245,555       0.20      9.919       239        77.31       524
360                                    723     123,573,064      99.60      9.338       357        73.60       531
-------------------------------------------------------------------------------------------------------------------
Total:                                 730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 359

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
      Range of Stated         Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Remaining Terms (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

169--180                           4         249,814       0.20      9.186       177        75.79       522
229--240                           3         245,555       0.20      9.919       239        77.31       524
349--360                         723     123,573,064      99.60      9.338       357        73.60       531
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Minimum: 176
Maximum: 359
Weighted Average: 356

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                          % of
                                                       Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
 Range of Combined Original   Mortgage    Principal    Principal   Interest      Term     Original     FICO
      LTV  Ratios (%)           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

15.01--20.00                       3         270,557       0.22      8.967       356        18.09       525
20.01--25.00                       2         460,110       0.37      7.595       357        24.66       524
25.01--30.00                       2         219,609       0.18      8.225       355        28.17       549
30.01--35.00                       2         238,569       0.19      9.900       359        34.36       522
35.01--40.00                       7         799,492       0.64      9.058       358        37.95       530
40.01--45.00                      15       2,135,838       1.72      9.256       356        42.51       527
45.01--50.00                      13       1,966,739       1.59      9.036       357        47.74       533
50.01--55.00                      26       4,293,629       3.46      9.100       356        52.84       528
55.01--60.00                      24       3,494,264       2.82      8.707       355        58.31       529
60.01--65.00                      55       9,964,890       8.03      9.403       356        63.29       526
65.01--70.00                      95      17,868,212      14.40      9.386       355        69.03       530
70.01--75.00                     128      25,005,084      20.15      9.108       357        74.11       528
75.01--80.00                     189      31,134,397      25.09      9.431       357        79.66       531
80.01--85.00                     127      20,128,303      16.22      9.604       356        84.68       534
85.01--90.00                      32       4,939,169       3.98      9.360       357        89.90       550
90.01--95.00                       7         826,399       0.67     10.535       357        94.62       551
95.01--100.00                      3         323,175       0.26     10.131       334        99.69       538
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 73.61

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Range of Gross Margins (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      14,235,476      11.47      9.653       352        74.66       530
<= 3.500                           1         224,800       0.18      9.990       358        75.00       546
4.001--4.500                       5         968,069       0.78      7.971       358        63.24       526
4.501--5.000                      13       2,320,291       1.87      8.831       356        73.34       529
5.001--5.500                      43       8,259,030       6.66      8.928       357        73.82       536
5.501--6.000                     111      20,080,705      16.19      9.204       357        73.38       530
6.001--6.500                     115      19,399,054      15.64      9.152       357        76.16       534
6.501--7.000                     114      21,797,865      17.57      9.357       357        71.30       527
7.001--7.500                     177      28,619,846      23.07      9.503       357        73.28       533
7.501--8.000                      19       4,094,806       3.30      9.821       356        75.07       528
8.001--8.500                      18       3,799,091       3.06      9.328       356        73.78       531
8.501--9.000                       1          76,455       0.06     11.875       358        75.00       546
9.001--9.500                       2         192,947       0.16     11.366       356        83.34       537
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.420
Maximum: 9.490
Non-Zero Weighted Average: 6.652

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
 Range of Minimum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Rates (%)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      14,235,476      11.47      9.653       352        74.66       530
5.501--6.000                       1         399,345       0.32      9.050       353        80.00       540
6.001--6.500                       4         539,597       0.43      8.141       352        71.79       535
6.501--7.000                       3         660,024       0.53      6.781       358        61.83       524
7.001--7.500                      12       2,376,136       1.92      7.661       357        71.20       543
7.501--8.000                      46      10,541,415       8.50      7.874       357        68.38       537
8.001--8.500                      38       8,539,323       6.88      8.342       357        74.49       540
8.501--9.000                     126      23,572,167      19.00      8.806       357        71.08       532
9.001--9.500                      98      17,780,630      14.33      9.358       357        73.71       531
9.501--10.000                    146      26,435,383      21.31      9.803       357        75.91       527
10.001 -10.500                    61       7,981,253       6.43     10.303       357        76.42       526
10.501--11.000                    55       7,260,367       5.85     10.777       357        78.02       528
11.001--11.500                    18       2,499,528       2.01     11.201       357        69.90       531
11.501--12.000                     8       1,086,487       0.88     11.748       358        69.66       525
12.001--12.500                     2         111,192       0.09     12.104       358        77.88       528
12.501--13.000                     1          50,111       0.04     12.530       357        85.00       542
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.000
Maximum: 12.530
Non-Zero Weighted Average: 9.273

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
 Range of Maximum Mortgage    Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Rates (%)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      14,235,476      11.47      9.653       352        74.66       530
<= 12.500                          3         579,949       0.47      6.649       355        60.52       529
12.501--13.000                     7       1,234,300       0.99      7.831       356        70.68       537
13.001--13.500                    10       2,585,651       2.08      7.954       357        77.36       546
13.501--14.000                    20       4,608,725       3.71      8.158       357        63.69       532
14.001--14.500                    17       3,263,664       2.63      8.255       356        68.34       537
14.501--15.000                    53      10,647,308       8.58      8.326       357        71.16       537
15.001--15.500                    47       9,762,911       7.87      8.834       357        72.76       538
15.501--16.000                   121      22,533,913      18.16      8.980       357        71.85       532
16.001--16.500                    81      14,314,752      11.54      9.417       357        75.09       531
16.501--17.000                   134      24,149,920      19.46      9.843       357        75.80       525
17.001--17.500                    55       7,480,630       6.03     10.354       357        75.86       525
17.501--18.000                    51       6,450,831       5.20     10.892       357        78.00       527
18.001--18.500                    15       1,809,474       1.46     11.217       357        74.06       526
18.501--19.000                     3         299,738       0.24     11.723       358        83.96       547
19.001--19.500                     2         111,192       0.09     12.104       358        77.88       528
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.650
Maximum: 19.125
Non-Zero Weighted Average: 15.993

INITIAL PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Initial Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      14,235,476      11.47      9.653       352        74.66       530
1.500                            133      23,057,445      18.58      9.430       357        76.07       525
2.000                            135      24,388,080      19.66      9.119       357        70.33       532
3.000                            351      62,387,433      50.28      9.320       357        73.75       533
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.463

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 111      14,235,476      11.47      9.653       352        74.66       530
1.000                            191      35,023,472      28.23      9.143       356        72.65       534
1.500                            423      73,727,562      59.42      9.373       357        74.08       530
2.000                              5       1,081,924       0.87      9.209       353        58.93       522
-------------------------------------------------------------------------------------------------------------
Total:                           730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.345

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest     Term      Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                    111      14,235,476      11.47      9.653       352        74.66       530
14                                    3         529,589       0.43      9.060       350        74.73       518
15                                    5         913,786       0.74      8.976       351        69.74       531
16                                    6       1,126,260       0.91      9.190       352        60.66       526
17                                   10       1,526,818       1.23      9.279       353        68.11       531
18                                   11       2,267,050       1.83      9.577       354        72.50       520
19                                   20       3,668,563       2.96      9.141       355        70.01       532
20                                   63      11,553,828       9.31      9.096       356        71.58       534
21                                  106      21,291,409      17.16      9.359       357        73.92       532
22                                  147      26,843,865      21.64      9.232       358        72.42       531
23                                   41       6,989,029       5.63      9.077       359        74.30       531
30                                    2         297,692       0.24      8.974       354        73.64       524
31                                   11       2,047,652       1.65      8.905       355        74.24       533
32                                   19       2,840,223       2.29      9.175       356        72.50       530
33                                   78      12,749,860      10.28      9.468       357        76.01       530
34                                   91      14,245,824      11.48      9.528       358        76.03       531
35                                    5         862,841       0.70     10.111       359        82.31       535
58                                    1          78,667       0.06      9.200       358        75.00       529
----------------------------------------------------------------------------------------------------------------
Total:                              730     124,068,434     100.00      9.339       356        73.61       531
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 58
Non-Zero Weighted Average: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                      Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

California                       84      22,441,641      18.09      8.890       357        68.93       528
Florida                         123      20,844,116      16.80      9.109       357        71.25       531
Illinois                         45       7,816,208       6.30      9.334       355        77.56       533
Arizona                          39       7,578,144       6.11      9.614       357        73.90       529
New Jersey                       25       5,586,698       4.50      9.914       357        73.45       525
Maryland                         25       5,545,027       4.47      9.127       357        70.81       529
Texas                            53       5,361,606       4.32      9.701       354        79.65       530
Michigan                         33       4,200,679       3.39      9.595       356        77.93       538
Washington                       20       4,125,208       3.32      9.014       357        75.95       528
Connecticut                      19       3,762,015       3.03      9.444       357        72.13       535
Virginia                         23       3,415,933       2.75      9.553       357        71.05       531
Pennsylvania                     28       3,257,463       2.63      9.894       357        78.43       530
Rhode Island                     16       3,257,187       2.63      9.497       357        73.02       532
Massachusetts                    15       3,009,640       2.43      9.438       357        70.18       535
New York                         12       2,962,792       2.39      8.845       357        72.61       535
Other                           170      20,904,076      16.85      9.665       356        77.97       533
------------------------------------------------------------------------------------------------------------
Total:                          730     124,068,434     100.00      9.339       356        73.61       531
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 43

OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                 of          Date         Date       Gross    Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------

Primary          710     121,435,428      97.88      9.321       356        73.69       531
Investment        17       1,896,427       1.53     10.356       356        66.23       534
Second Home        3         736,578       0.59      9.696       358        79.60       537
---------------------------------------------------------------------------------------------
Total:           730     124,068,434     100.00      9.339       356        73.61       531
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number     Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       628     102,751,549      82.82      9.320       356        73.87       531
Planned Unit Development       38       8,485,851       6.84      9.387       357        73.12       528
2-4 Family                     32       7,289,367       5.88      9.429       357        70.35       531
Condo                          32       5,541,667       4.47      9.501       357        73.86       534
----------------------------------------------------------------------------------------------------------
Total:                        730     124,068,434     100.00      9.339       356        73.61       531
----------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Refinance--Cashout        590     105,145,125      84.75      9.264       357        72.37       530
Purchase                   90      11,115,297       8.96      9.949       356        82.06       537
Refinance--Rate Term       50       7,808,011       6.29      9.484       353        78.31       537
------------------------------------------------------------------------------------------------------
Total:                    730     124,068,434     100.00      9.339       356        73.61       531
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                 Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Full Documentation         491      75,022,503      60.47      9.283       356        75.00       530
Stated Documentation       217      44,734,437      36.06      9.463       357        71.17       534
Limited Documentation       22       4,311,494       3.48      9.022       357        74.82       525
-------------------------------------------------------------------------------------------------------
Total:                     730     124,068,434     100.00      9.339       356        73.61       531
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

500--524          279      46,441,483      37.43      9.545        356       71.85        512
525--549          314      53,891,969      43.44      9.290        357       73.26        537
550--574          137      23,734,982      19.13      9.047        357       77.86        554
----------------------------------------------------------------------------------------------
Total:            730     124,068,434     100.00      9.339        356       73.61        531
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 559
Non-Zero Weighted Average: 531

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 560 FICO                                             730 records
                                                           Balance: $124,068,434
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Prepayment Penalty Term        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                   221      35,960,312      28.98      9.539       356        73.97       531
6                                     4         809,254       0.65     10.008       357        77.85       529
12                                   26       5,586,597       4.50      9.149       357        74.99       532
24                                  258      48,001,013      38.69      9.146       357        71.84       532
30                                    1         282,470       0.23      9.790       356        64.32       534
36                                  191      30,085,914      24.25      9.415       357        75.27       531
48                                    1         145,964       0.12      8.500       359        36.50       529
60                                   28       3,196,909       2.58      9.427       351        79.48       519
----------------------------------------------------------------------------------------------------------------
Total:                              730     124,068,434     100.00      9.339       356        73.61       531
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 29

LIEN POSITION



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
             Lien                Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Position                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

1st Lien                            728     123,996,911      99.94      9.338       356        73.60       531
2nd Lien                              2          71,523       0.06     11.118       254       100.00       500
----------------------------------------------------------------------------------------------------------------
Total:                              730     124,068,434     100.00      9.339       356        73.61       531
----------------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted   Weighted    Weighted
                                  Number      Cut-off     Cut-off      Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Interest Only Term           Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

0                                   728     123,603,109      99.62      9.341       356        73.63       531
60                                    2         465,325       0.38      8.706       355        69.40       537
----------------------------------------------------------------------------------------------------------------
Total:                              730     124,068,434     100.00      9.339       356        73.61       531
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,399
Aggregate Principal Balance ($): 248,042,468
Weighted Average Current Mortgage Rate (%): 9.036
Non-Zero Weighted Average Margin (%): 6.616
Non-Zero Weighted Average Maximum Rate (%): 15.695
Weighted Average Stated Original Term (months): 359
Weighted Average Stated Remaining Term (months): 356
Weighted Average Combined Original LTV (%): 76.50
% First Liens: 99.64
% Owner Occupied: 96.36
% Purchase: 13.42
% Full Doc: 57.17
Non-Zero Weighted Average Credit Score: 556

ORIGINATOR



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                          of         Date          Date      Gross     Remaining   Combined   Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Originator          Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------

Accredited                232      37,053,664     14.94      9.225         355      75.74       542
Chapel                      7       1,315,069      0.53      8.152         351      70.67       546
Encore                    116      23,806,240      9.60      8.782         356      75.50       561
First Banc                 22       3,733,525      1.51      8.589         349      72.85       541
First Horizon              79      10,957,700      4.42      9.692         357      84.17       562
First NLC                 576      98,255,841     39.61      9.042         356      78.35       561
Flex Point                 11       2,134,678      0.86      9.670         356      61.18       543
Funding America            17       1,633,174      0.66      9.504         355      75.30       561
Lenders Direct             15       2,316,646      0.93      9.233         341      75.10       545
Lime Financial             10       2,330,543      0.94      9.281         357      86.87       566
Mandalay                    5       1,051,733      0.42      8.385         340      74.69       576
Master Financial           40       9,005,664      3.63      8.988         348      79.45       557
Maxim                       8       1,160,039      0.47      9.047         345      83.61       574
New Century               163      31,246,711     12.60      8.904         358      72.72       554
Quick Loan                 23       5,038,714      2.03      8.491         357      65.71       548
Rose Mortgage              75      17,002,528      6.85      8.965         357      74.15       555
------------------------------------------------------------------------------------------------------
Total:                  1,399     248,042,468    100.00      9.036         356      76.50       556
------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                       of          Date         Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Product with IO term           Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed--10 Year                           2         116,510      0.05      10.185       117        67.17      593
Fixed--15 Year                           6         425,170      0.17       9.290       177        77.71      571
Fixed--20 Year                           7         561,363      0.23       9.233       238        75.75      558
Fixed--25 Year                           2         173,488      0.07       9.123       298        80.71      596
Fixed--30 Year                         170      21,213,227      8.55       9.373       357        75.65      552
Balloon--15/30                          13         841,074      0.34      11.975       175        95.64      573
Balloon--30/40                          26       4,368,374      1.76       8.733       357        80.59      562
ARM--2 Year/6 Month Balloon 30/40      264      64,340,762     25.94       8.702       357        76.77      561
ARM--3 Year/6 Month Balloon 30/40       91      17,804,784      7.18       8.952       357        79.27      562
ARM--1 Year/6 Month                      1         274,325      0.11       7.500       352        80.00      596
ARM--2 Year/6 Month                    515      88,844,804     35.82       9.156       357        75.25      553
ARM--3 Year/6 Month                    283      43,678,810     17.61       9.302       357        77.04      549
ARM--5 Year/6 Month                      3         829,499      0.33       8.855       355        76.34      573
Interest Only ARM--2 Year/6
Month--24 mo. IO term                    1         221,000      0.09       6.250       358        78.93      585
Interest Only Fixed--30 Year--60
mo. IO term                              1         227,000      0.09       6.750       356        56.75      584
Interest Only ARM--2 Year/6
Month--60 mo. IO term                   12       3,342,879      1.35       7.457       355        78.57      580
Interest Only ARM--3 Year/6
Month--60 mo. IO term                    2         779,400      0.31       7.666       357        77.72      583
-------------------------------------------------------------------------------------------------------------------
Total:                               1,399     248,042,468    100.00       9.036       356        76.50      556
-------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                       of          Date         Date      Gross     Remaining   Combined   Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)    Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
-------------------------------------------------------------------------------------------------------------------

6.000--6.999                            27       5,866,594      2.37       6.708       357        71.68      578
7.000--7.999                           180      41,774,304     16.84       7.733       356        74.11      570
8.000--8.999                           460      85,706,313     34.55       8.597       356        75.46      560
9.000--9.999                           448      77,102,464     31.08       9.586       356        77.85      548
10.000--10.999                         217      29,389,095     11.85      10.494       356        80.62      546
11.000--11.999                          51       7,332,744      2.96      11.367       353        73.20      543
12.000--12.999                           9         555,406      0.22      12.429       267        90.91      564
13.000--13.999                           7         315,547      0.13      13.453       174       100.00      595
-------------------------------------------------------------------------------------------------------------------
Total:                               1,399     248,042,468    100.00       9.036       356        76.50      556
-------------------------------------------------------------------------------------------------------------------


Minimum: 6.100
Maximum: 13.750
Weighted Average: 9.036

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
 Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

1--25,000                                4         96,153       0.04     11.538       309       100.00       591
25,001--50,000                          37      1,565,075       0.63     10.311       309        76.01       558
50,001--75,000                         118      7,572,320       3.05      9.868       349        74.56       551
75,001--100,000                        165     14,338,309       5.78      9.486       352        79.06       555
100,001--125,000                       189     21,422,611       8.64      9.267       353        77.39       553
125,001--150,000                       179     24,747,691       9.98      9.261       356        75.94       553
150,001--175,000                       154     24,983,483      10.07      9.139       357        74.64       556
175,001--200,000                       122     22,960,583       9.26      9.050       357        75.50       550
200,001--225,000                        81     17,242,739       6.95      8.902       357        75.56       558
225,001--250,000                        85     20,128,858       8.12      8.915       357        74.08       557
250,001--275,000                        58     15,224,895       6.14      8.844       357        77.48       555
275,001--300,000                        47     13,557,360       5.47      8.818       357        75.32       552
300,001--325,000                        43     13,463,491       5.43      8.729       357        75.19       559
325,001--350,000                        26      8,778,630       3.54      8.790       357        77.21       551
350,001--375,000                        11      3,972,566       1.60      9.473       357        76.38       556
375,001--400,000                        17      6,632,611       2.67      8.843       356        79.30       555
400,001--425,000                        14      5,789,855       2.33      8.852       357        81.27       563
425,001--450,000                        13      5,750,336       2.32      8.280       357        79.43       567
450,001--475,000                         5      2,295,863       0.93      8.049       357        77.25       563
475,001--500,000                         9      4,374,205       1.76      8.416       357        83.02       580
500,001--750,000                        22     13,144,833       5.30      8.906       357        78.41       565
------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00      9.036       356        76.50       556
------------------------------------------------------------------------------------------------------------------


Minimum: 22,327
Maximum: 749,516
Average: 177,300

STATED ORIGINAL TERM (MONTHS)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Stated Original Term (months)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

120                                      2        116,510       0.05     10.185       117       67.17        593
180                                     19      1,266,244       0.51     11.073       176       89.62        573
240                                      7        561,363       0.23      9.233       238       75.75        558
300                                      2        173,488       0.07      9.123       298       80.71        596
360                                  1,369    245,924,863      99.15      9.024       357       76.43        556
------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00      9.036       356       76.50        556
------------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 359

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
 Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

109--120                                 2        116,510       0.05     10.185       117       67.17        593
169--180                                19      1,266,244       0.51     11.073       176       89.62        573
229--240                                 7        561,363       0.23      9.233       238       75.75        558
289--300                                 2        173,488       0.07      9.123       298       80.71        596
349--360                             1,369    245,924,863      99.15      9.024       357       76.43        556
------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00      9.036       356       76.50        556
------------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 356

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
 Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

15.01--20.00                             4        430,264       0.17      8.793       356       18.12        550
20.01--25.00                             2        460,110       0.19      7.595       357       24.66        524
25.01--30.00                             2        219,609       0.09      8.225       355       28.17        549
30.01--35.00                             2        238,569       0.10      9.900       359       34.36        522
35.01--40.00                            13      1,716,769       0.69      9.186       357       38.65        557
40.01--45.00                            23      3,460,705       1.40      8.659       356       42.35        547
45.01--50.00                            20      3,285,965       1.32      8.802       357       47.77        550
50.01--55.00                            33      5,947,845       2.40      8.890       357       52.86        542
55.01--60.00                            40      6,021,389       2.43      8.466       351       57.95        550
60.01--65.00                            86     15,539,482       6.26      9.140       356       63.42        543
65.01--70.00                           136     24,741,672       9.97      9.142       356       68.80        544
70.01--75.00                           199     39,131,364      15.78      8.838       356       74.12        546
75.01--80.00                           399     72,028,870      29.04      8.849       357       79.60        560
80.01--85.00                           221     38,230,865      15.41      9.321       356       84.70        555
85.01--90.00                           144     27,102,563      10.93      9.101       356       89.67        577
90.01--95.00                            36      5,602,828       2.26      9.909       357       94.54        579
95.01--100.00                           39      3,883,600       1.57     10.626       323       99.97        583
------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00      9.036       356       76.50        556
------------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 76.50

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       227     27,926,206      11.26      9.327       345       76.90        556
<= 3.500                                 3        522,137       0.21     10.264       356       70.66        572
3.501--4.000                             1        410,000       0.17      6.990       358       78.10        575
4.001--4.500                             9      2,073,992       0.84      7.951       357       66.87        548
4.501--5.000                            23      4,391,257       1.77      8.735       356       73.89        554
5.001--5.500                            96     20,254,624       8.17      8.672       356       78.60        563
5.501--6.000                           218     40,549,502      16.35      9.023       357       77.15        557
6.001--6.500                           199     36,516,637      14.72      8.854       357       77.82        556
6.501--7.000                           199     39,315,152      15.85      9.027       357       73.01        550
7.001--7.500                           357     61,011,427      24.60      9.126       357       76.77        558
7.501--8.000                            35      7,544,223       3.04      9.320       357       77.39        553
8.001--8.500                            27      6,887,102       2.78      9.294       356       78.45        554
8.501--9.000                             2        391,286       0.16      9.876       358       87.06        587
9.001--9.500                             2        192,947       0.08     11.366       356       83.34        537
9.501--10.000                            1         55,974       0.02     12.999       358       80.00        593
------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00      9.036       356       76.50        556
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 3.000
Maximum: 9.999
Non-Zero Weighted Average: 6.616

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                      of          Date         Date       Gross    Remaining   Combined    Average
 Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       227     27,926,206      11.26      9.327       345       76.90        556
5.501--6.000                             1        399,345       0.16      9.050       353       80.00        540
6.001--6.500                             9      1,754,254       0.71      6.848       355       71.45        573
6.501--7.000                            19      4,053,250       1.63      6.854       357       72.73        575
7.001--7.500                            37      7,924,974       3.20      7.442       357       74.59        571
7.501--8.000                           137     33,343,238      13.44      7.848       357       74.37        569
8.001--8.500                           130     28,056,272      11.31      8.300       357       75.42        567
8.501--9.000                           239     45,462,906      18.33      8.815       357       75.09        554
9.001--9.500                           163     30,445,306      12.27      9.336       357       77.00        553
9.501--10.000                          218     38,634,636      15.58      9.803       357       78.37        543
10.001 -10.500                         103     14,471,918       5.83     10.308       357       81.14        550
10.501--11.000                          79     10,654,589       4.30     10.775       357       81.66        546
11.001--11.500                          24      3,429,843       1.38     11.207       357       71.93        545
11.501--12.000                           9      1,268,454       0.51     11.770       358       74.01        532
12.001--12.500                           2        111,192       0.04     12.104       358       77.88        528
12.501--13.000                           2        106,086       0.04     12.777       358       82.36        569
------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00      9.036       356       76.50        556
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6.000
Maximum: 12.999
Non-Zero Weighted Average: 8.986

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                              Aggregate     Aggregate    Weighted   Weighted    Weighted
                                    Number     Cut-off       Cut-off     Average     Average     Average   Weighted
                                      of        Date           Date       Gross     Remaining   Combined    Average
 Range of Maximum Mortgage Rates   Mortgage    Principal     Principal   Interest     Term      Original     FICO
            (%)                     Loans      Balance($)    Balance     Rate (%)   (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       227     27,926,206      11.26       9.327       345        76.90       556
<= 12.500                               12      2,727,585       1.10       7.024       356        70.54       571
12.501--13.000                          19      4,274,409       1.72       7.646       356        78.74       574
13.001--13.500                          23      5,614,614       2.26       7.794       356        77.56       567
13.501--14.000                          50     11,685,195       4.71       7.947       357        71.94       562
14.001--14.500                          54     11,399,759       4.60       7.953       356        72.30       568
14.501--15.000                         138     30,872,449      12.45       8.148       357        74.96       567
15.001--15.500                         125     26,365,445      10.63       8.628       357        76.04       564
15.501--16.000                         224     41,987,242      16.93       8.949       357        75.56       554
16.001--16.500                         144     25,512,704      10.29       9.386       357        77.96       554
16.501--17.000                         195     34,266,740      13.81       9.842       357        78.01       541
17.001--17.500                          89     12,701,601       5.12      10.348       357        79.72       548
17.501--18.000                          71      9,201,509       3.71      10.851       357        82.20       544
18.001--18.500                          20      2,513,410       1.01      11.217       357        76.11       542
18.501--19.000                           4        481,706       0.19      11.790       358        90.02       558
19.001--19.500                           2        111,192       0.04      12.104       358        77.88       528
19.501--20.000                           1         55,974       0.02      12.999       358        80.00       593
23.501--24.000                           1        344,727       0.14       8.350       356        80.00       596
-------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00       9.036       356        76.50       556
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.100
Maximum: 23.690
Non-Zero Weighted Average: 15.695

INITIAL PERIODIC CAP (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                              Aggregate     Aggregate    Weighted   Weighted    Weighted
                                    Number     Cut-off       Cut-off     Average     Average     Average   Weighted
                                      of        Date           Date       Gross     Remaining   Combined    Average
                                   Mortgage    Principal     Principal   Interest     Term      Original     FICO
  Initial Periodic Cap (%)          Loans      Balance($)    Balance     Rate (%)   (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       227     27,926,206      11.26       9.327        345       76.90       556
1.500                                  210     37,404,165      15.08       9.204        357       75.95       545
2.000                                  244     49,305,136      19.88       8.771        357       73.94       558
3.000                                  718    133,406,961      53.78       9.025        357       77.51       558
-------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00       9.036        356       76.50       556
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.521

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                               % of
                                                             Mortgage
                                                             Pool by
                                              Aggregate     Aggregate    Weighted   Weighted    Weighted
                                    Number     Cut-off       Cut-off     Average     Average     Average   Weighted
                                      of        Date           Date       Gross     Remaining   Combined    Average
                                   Mortgage    Principal     Principal   Interest     Term      Original     FICO
  Subsequent Periodic Cap (%)       Loans      Balance($)    Balance     Rate (%)   (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       227     27,926,206      11.26       9.327       345        76.90       556
1.000                                  363     71,229,992      28.72       8.898       356        76.59       559
1.500                                  803    147,704,380      59.55       9.046       357        76.51       555
2.000                                    6      1,181,890       0.48       9.102       353        60.71       528
-------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00       9.036       356        76.50       556
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

MONTHS TO NEXT RATE ADJUSTMENT



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate    Weighted   Weighted    Weighted
                                    Number     Cut-off       Cut-off     Average     Average     Average   Weighted
                                      of        Date           Date       Gross     Remaining   Combined    Average
                                   Mortgage    Principal     Principal   Interest     Term      Original     FICO
  Months to Next Rate Adjustment    Loans      Balance($)    Balance     Rate (%)   (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                       227     27,926,206      11.26       9.327        345       76.90       556
4                                        1        274,325       0.11       7.500        352       80.00       596
14                                       4        697,793       0.28       8.591        350       76.00       535
15                                       7      1,192,739       0.48       8.485        351       72.14       545
16                                      15      2,519,960       1.02       8.717        352       69.00       558
17                                      16      3,134,013       1.26       8.741        353       77.21       561
18                                      24      4,502,181       1.82       9.204        354       73.85       555
19                                      55     11,238,612       4.53       8.810        355       75.37       565
20                                     125     25,245,348      10.18       8.915        356       76.33       560
21                                     205     41,977,163      16.92       8.972        357       76.87       556
22                                     279     55,254,183      22.28       8.916        358       75.85       556
23                                      61     10,735,453       4.33       9.030        359       75.03       547
24                                       1        252,000       0.10       9.450        360       80.00       593
28                                       1        167,671       0.07       8.625        352       80.00       574
30                                       4        577,839       0.23       8.592        354       78.38       555
31                                      15      2,557,864       1.03       8.918        355       75.85       544
32                                      32      5,401,838       2.18       8.961        356       75.72       554
33                                     155     25,810,005      10.41       9.127        357       78.71       554
34                                     159     25,906,243      10.44       9.313        358       77.38       553
35                                      10      1,841,534       0.74       9.365        359       75.52       557
55                                       2        750,831       0.30       8.819        355       76.48       578
58                                       1         78,667       0.03       9.200        358       75.00       529
-------------------------------------------------------------------------------------------------------------------
Total:                               1,399    248,042,468     100.00       9.036        356       76.50       556
-------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 58
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                     % of
                                                                  Mortgage
                                                                   Pool by
                                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                            of          Date         Date       Gross    Remaining   Combined    Average
  Geographic Distribution of Mortgaged   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Properties                  Loans      Balance($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------------------

California                                   170     49,853,521      20.10      8.593       355        74.26       558
Florida                                      224     38,669,868      15.59      8.853       356        74.09       555
Illinois                                     107     18,721,046       7.55      9.162       355        80.05       559
Arizona                                       67     12,896,774       5.20      9.205       357        75.72       550
Maryland                                      44      9,641,631       3.89      8.916       357        72.66       550
Texas                                         99      9,523,490       3.84      9.441       348        80.46       553
New Jersey                                    40      9,314,623       3.76      9.524       357        75.18       547
New York                                      34      9,307,118       3.75      8.514       356        73.24       566
Massachusetts                                 31      7,415,653       2.99      9.476       357        77.96       562
Michigan                                      64      7,283,646       2.94      9.539       356        80.58       556
Virginia                                      42      6,861,853       2.77      9.156       357        74.33       557
Pennsylvania                                  59      6,813,741       2.75      9.336       355        79.74       557
Washington                                    33      6,801,672       2.74      8.768       357        78.55       548
Connecticut                                   27      5,567,730       2.24      9.103       357        73.42       550
Rhode Island                                  25      5,080,980       2.05      9.163       357        74.58       547
Other                                        333     44,289,122      17.86      9.332       355        80.00       559
------------------------------------------------------------------------------------------------------------------------
Total:                                     1,399    248,042,468     100.00      9.036       356        76.50       556
------------------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 47

OCCUPANCY



                                                                     % of
                                                                  Mortgage
                                                                   Pool by
                                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                            of          Date         Date       Gross    Remaining   Combined    Average
                                         Mortgage    Principal    Principal   Interest      Term     Original     FICO
              Occupancy                   Loans      Balance($)    Balance    Rate (%)    (months)     LTV        Score
------------------------------------------------------------------------------------------------------------------------

Primary                                    1,342    239,012,077      96.36      9.020       356        76.62       555
Investment                                    49      7,144,621       2.88      9.459       357        72.34       572
Second Home                                    8      1,885,769       0.76      9.370       357        77.04       567
------------------------------------------------------------------------------------------------------------------------
Total:                                     1,399     48,042,468     100.00      9.036       356        76.50       556
------------------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                                     % of
                                                                  Mortgage
                                                                   Pool by
                                                     Aggregate    Aggregate   Weighted    Weighted   Weighted
                                          Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                            of          Date         Date       Gross    Remaining   Combined    Average
                                         Mortgage    Principal    Principal   Interest     Term      Original     FICO
              Property Type                Loans     Balance($)    Balance    Rate (%)   (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------------

Single Family Residence                    1,216    209,078,587      84.29      9.024       356        77.10       556
2-4 Family                                    68     15,627,941       6.30      9.026       357        70.08       559
Planned Unit Development                      62     14,510,569       5.85      9.078       355        75.36       550
Condo                                         53      8,825,371       3.56      9.247       355        75.50       553
------------------------------------------------------------------------------------------------------------------------
Total:                                     1,399    248,042,468     100.00      9.036       356        76.50       556
------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                          1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Refinance--Cashout       1,065    200,342,715      80.77      8.952       356        74.98       554
Purchase                   246     33,297,840      13.42      9.473       353        84.31       569
Refinance--Rate Term        88     14,401,913       5.81      9.187       354        79.56       556
------------------------------------------------------------------------------------------------------
Total:                   1,399    248,042,468     100.00      9.036       356        76.50       556
------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                           of          Date         Date       Gross    Remaining   Combined    Average
                        Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------

Full Documentation          881    141,799,548      57.17      8.910       355        77.33       554
Stated Documentation        465     95,936,837      38.68      9.219       356        74.94       559
Limited Documentation        53     10,306,083       4.15      9.054       353        79.59       557
-------------------------------------------------------------------------------------------------------
Total:                    1,399    248,042,468     100.00      9.036       356        76.50       556
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

500--524           279     46,441,483      18.72      9.545       356        71.85       512
525--549           314     53,891,969      21.73      9.290       357        73.26       537
550--574           349     62,693,438      25.28      8.943       357        77.64       562
575--599           457     85,015,577      34.27      8.664       354        80.25       588
----------------------------------------------------------------------------------------------
Total:           1,399    248,042,468     100.00      9.036       356        76.50       556
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 599
Non-Zero Weighted Average: 556

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 600 FICO                                           1,399 records
                                                           Balance: $248,042,468
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                  of          Date         Date       Gross    Remaining   Combined    Average
 Prepayment    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------

0                  426     71,112,901      28.67      9.334       355        77.36       555
6                    5        962,086       0.39      9.846       358        75.61       535
12                  52     13,623,470       5.49      8.685       356        76.37       563
24                 520     99,877,517      40.27      8.811       356        75.36       557
30                   2        492,233       0.20     10.216       356        79.52       558
36                 354     57,246,192      23.08      9.096       355        77.55       555
48                   1        145,964       0.06      8.500       359        36.50       529
60                  39      4,582,106       1.85      9.305       351        76.33       538
----------------------------------------------------------------------------------------------
Total:           1,399    248,042,468     100.00      9.036       356        76.50       556
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 28

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
              of          Date         Date       Gross    Remaining   Combined    Average
  Lien     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------

1st Lien     1,381    247,154,128      99.64      9.024       356        76.41       556
2nd Lien        18        888,340       0.36     12.375       209       100.00       581
------------------------------------------------------------------------------------------
Total:       1,399    248,042,468     100.00      9.036       356        76.50       556
------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
----------------------------------------------------------------------------------------------------

0                      1,383    243,472,188      98.16      9.066       356        76.48       556
24                         1        221,000       0.09      6.250       358        78.93       585
60                        15      4,349,279       1.75      7.458       356        77.28       581
----------------------------------------------------------------------------------------------------
Total:                 1,399    248,042,468     100.00      9.036       356        76.50       556
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 1,955
Aggregate Principal Balance ($): 358,961,610
Weighted Average Current Mortgage Rate (%): 8.823
Non-Zero Weighted Average Margin (%): 6.510
Non-Zero Weighted Average Maximum Rate (%): 15.455
Weighted Average Stated Original Term (months): 357
Weighted Average Stated Remaining Term (months): 354
Weighted Average Combined Original LTV (%): 78.00
% First Liens: 98.92
% Owner Occupied: 95.55
% Purchase: 20.64
% Full Doc: 56.23
Non-Zero Weighted Average Credit Score: 572

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                    Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                      of          Date         Date       Gross    Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
--------------------------------------------------------------------------------------------------

Accredited             279     46,456,247      12.94      9.074       356        76.07       556
Chapel                   8      1,473,395       0.41      8.087       352        71.67       552
Encore                 175     38,193,222      10.64      8.601       356        77.35       580
First Banc              34      7,219,150       2.01      8.259       350        76.13       575
First Horizon          117     16,515,286       4.60      9.490       356        84.42       578
First NLC              776    134,406,873      37.44      8.883       354        79.21       574
Flex Point              14      2,790,420       0.78      9.608       356        64.65       558
Funding America         26      2,600,735       0.72      9.334       355        79.33       579
Lenders Direct          23      4,153,920       1.16      8.716       341        77.50       572
Lime Financial          16      2,967,889       0.83      9.228       350        87.14       576
Mandalay                 8      1,630,445       0.45      8.109       332        79.65       589
Master Financial        68     15,529,153       4.33      8.739       342        81.70       579
Maxim                    9      1,211,977       0.34      9.168       338        84.32       576
New Century            280     56,105,180      15.63      8.546       358        76.63       578
Quick Loan              24      5,332,554       1.49      8.437       357        67.32       551
Rose Mortgage           98     22,375,165       6.23      8.744       356        75.48       569
--------------------------------------------------------------------------------------------------
Total:               1,955    358,961,610     100.00      8.823       354        78.00       572
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                             % of
                                                           Mortgage
                                                           Pool by
                                              Aggregate   Aggregate  Weighted   Weighted  Weighted
                                    Number     Cut-off     Cut-off    Average   Average    Average  Weighted
                                      of         Date        Date      Gross   Remaining  Combined  Average
                                   Mortgage   Principal   Principal  Interest     Term    Original    FICO
       Product with IO term         Loans    Balance ($)   Balance   Rate (%)   (months)     LTV     Score
------------------------------------------------------------------------------------------------------------

Fixed--10 Year                           4       256,124      0.07     9.066       117      64.69      606
Fixed--15 Year                          12       982,528      0.27     8.713       178      75.06      593
Fixed--20 Year                           9       679,084      0.19     9.106       238      77.01      567
Fixed--25 Year                           2       173,488      0.05     9.123       298      80.71      596
Fixed--30 Year                         227    27,651,486      7.70     9.239       357      77.50      566
Balloon--15/30                          49     3,233,988      0.90    11.728       176      97.26      601
Balloon--30/40                          35     6,310,433      1.76     8.415       357      80.53      577
ARM--2 Year/6 Month Balloon 30/40      369    90,295,454     25.15     8.582       357      78.07      574
ARM--3 Year/6 Month Balloon 30/40      119    23,277,687      6.48     8.719       357      79.53      573
ARM--1 Year/6 Month                      2       542,838      0.15     7.742       352      84.95      602
ARM--2 Year/6 Month                    682   121,398,037     33.82     8.977       357      76.39      568
ARM--3 Year/6 Month                    329    50,977,422     14.20     9.232       357      77.78      558
ARM--5 Year/6 Month                      6     1,153,823      0.32     8.911       356      76.62      583
Dual Amort--10/40--2 Year/6 Month        1       207,635      0.06     7.490       352      60.00      615
Interest Only ARM--2 Year/6              1       221,000      0.06     6.250       358      78.93      585
Month--24 mo. IO term
Interest Only ARM--3 Year/6              2       411,500      0.11     8.195       357      75.77      611
Month--36 mo. IO term
Interest Only Fixed--30 Year--60         2       527,000      0.15     6.887       356      67.14      599
mo. IO term
Interest Only ARM--2 Year/6             91    27,248,583      7.59     7.798       356      81.88      607
Month--60 mo. IO term
Interest Only ARM--3 Year/6             13     3,413,499      0.95     7.831       356      80.43      600
Month--60 mo. IO term
------------------------------------------------------------------------------------------------------------
Total:                               1,955   358,961,610    100.00     8.823       354      78.00      572
------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                              % of
                                            Mortgage
                                            Pool by
                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                  Number       Cut-off      Cut-off     Average    Average     Average   Weighted
   Range of         of           Date         Date       Gross    Remaining   Combined   Average
Gross Interest   Mortgage     Principal    Principal   Interest      Term     Original     FICO
  Rates (%)       Loans      Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------

5.000--5.999          1         270,882       0.08      5.990       350        90.00       614
6.000--6.999         56      13,117,916       3.65      6.708       354        72.39       595
7.000--7.999        362      84,288,759      23.48      7.650       356        76.74       590
8.000--8.999        640     121,814,126      33.94      8.576       356        77.15       574
9.000--9.999        538      94,043,515      26.20      9.556       356        79.12       559
10.000--10.999      247      34,052,628       9.49     10.488       355        82.03       555
11.000--11.999       80       9,325,038       2.60     11.418       327        78.42       557
12.000--12.999       22       1,649,302       0.46     12.335       260        93.30       595
13.000--13.999        9         399,445       0.11     13.436       174       100.00       600
----------------------------------------------------------------------------------------------
Total:            1,955     358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 13.850
Weighted Average: 8.823

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)             Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

1--25,000                               8        189,512       0.05     11.030       265        99.35       601
25,001--50,000                         63      2,561,881       0.71     10.726       289        83.94       578
50,001--75,000                        160     10,284,032       2.86      9.827       337        77.36       566
75,001--100,000                       222     19,363,471       5.39      9.305       347        79.57       569
100,001--125,000                      257     29,077,624       8.10      9.128       350        77.84       568
125,001--150,000                      222     30,607,065       8.53      9.110       355        76.66       564
150,001--175,000                      204     33,124,578       9.23      9.007       356        75.91       568
175,001--200,000                      166     31,252,599       8.71      8.828       357        76.05       566
200,001--225,000                      116     24,677,785       6.87      8.639       355        76.87       574
225,001--250,000                      121     28,689,296       7.99      8.695       357        76.45       572
250,001--275,000                       87     22,910,685       6.38      8.497       357        78.44       573
275,001--300,000                       72     20,806,302       5.80      8.550       357        78.43       572
300,001--325,000                       58     18,118,678       5.05      8.504       357        77.23       572
325,001--350,000                       42     14,189,722       3.95      8.670       357        78.73       573
350,001--375,000                       22      7,938,075       2.21      8.833       357        79.35       582
375,001--400,000                       29     11,241,832       3.13      8.549       357        80.01       576
400,001--425,000                       20      8,237,652       2.29      8.703       357        82.18       578
425,001--450,000                       17      7,522,299       2.10      8.146       357        79.39       576
450,001--475,000                       10      4,596,433       1.28      8.061       357        78.08       587
475,001--500,000                       18      8,758,335       2.44      8.261       356        81.74       594
500,001--750,000                       40     24,031,070       6.69      8.723       357        80.88       585
750,001--1,000,000                      1        782,684       0.22      9.200       358        90.00       612
-----------------------------------------------------------------------------------------------------------------
Total:                              1,955    358,961,610     100.00      8.823       354        78.00       572
-----------------------------------------------------------------------------------------------------------------


Minimum: 22,327
Maximum: 782,684
Average: 183,612

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                          Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of         Date          Date       Gross    Remaining   Combined    Average
                                Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------------

120                                   4        256,124       0.07      9.066       117        64.69       606
180                                  61      4,216,516       1.17     11.025       176        92.09       599
240                                   9        679,084       0.19      9.106       238        77.01       567
300                                   2        173,488       0.05      9.123       298        80.71       596
360                               1,879    353,636,399      98.52      8.796       357        77.84       572
---------------------------------------------------------------------------------------------------------------
Total:                            1,955    358,961,610     100.00      8.823       354        78.00       572
---------------------------------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 357

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)               Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

109--120                                4        256,124      0.07       9.066       117        64.69       606
169--180                               61      4,216,516      1.17      11.025       176        92.09       599
229--240                                9        679,084      0.19       9.106       238        77.01       567
289--300                                2        173,488      0.05       9.123       298        80.71       596
337--348                                1         73,261      0.02      10.240       348        99.97       615
349--360                            1,878    353,563,138     98.50       8.795       357        77.84       572
-----------------------------------------------------------------------------------------------------------------
Total:                              1,955    358,961,610    100.00       8.823       354        78.00       572
-----------------------------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 354

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                     of         Date          Date      Gross     Remaining   Combined    Average
Range of Combined Original LTV    Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Ratios (%)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------------

15.01--20.00                            4        430,264       0.12      8.793       356        18.12       550
20.01--25.00                            3        580,110       0.16      7.627       357        24.25       544
25.01--30.00                            4        444,136       0.12      8.161       356        27.05       578
30.01--35.00                            3        495,622       0.14      8.391       358        32.81       572
35.01--40.00                           14      1,856,716       0.52      9.204       357        38.75       561
40.01--45.00                           30      4,408,042       1.23      8.471       357        42.61       561
45.01--50.00                           28      4,449,865       1.24      8.607       357        47.90       564
50.01--55.00                           41      7,371,628       2.05      8.621       352        52.96       556
55.01--60.00                           52      7,961,007       2.22      8.352       350        57.98       564
60.01--65.00                          100     17,938,571       5.00      8.952       354        63.42       551
65.01--70.00                          150     28,364,108       7.90      9.010       356        68.84       552
70.01--75.00                          227     45,224,798      12.60      8.727       356        74.11       554
75.01--80.00                          608    117,319,634      32.68      8.524       356        79.69       579
80.01--85.00                          284     51,900,236      14.46      9.072       356        84.67       570
85.01--90.00                          236     48,697,591      13.57      8.987       356        89.57       591
90.01--95.00                           74     13,335,563       3.72      9.150       356        94.47       596
95.01--100.00                          97      8,183,720       2.28     10.631       292        99.89       597
-----------------------------------------------------------------------------------------------------------------
Total:                              1,955    358,961,610     100.00      8.823       354        78.00       572
-----------------------------------------------------------------------------------------------------------------


Minimum: 16.97
Maximum: 100.00
Weighted Average: 78.00

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of         Date          Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 340     39,814,130      11.09      9.262       334        79.31       572
<= 3.500                           4        793,018       0.22      8.804       354        77.27       587
3.501--4.000                       3        684,142       0.19      7.633       358        76.39       588
4.001--4.500                      12      2,582,005       0.72      7.897       358        67.78       560
4.501--5.000                      34      7,523,132       2.10      8.526       357        75.16       578
5.001--5.500                     158     37,836,840      10.54      8.502       356        80.10       585
5.501--6.000                     311     60,164,124      16.76      8.773       357        78.65       573
6.001--6.500                     325     62,247,471      17.34      8.500       357        79.29       578
6.501--7.000                     246     49,735,957      13.86      8.855       357        73.97       563
7.001--7.500                     436     76,443,939      21.30      8.990       357        77.49       568
7.501--8.000                      47     11,036,207       3.07      9.162       356        78.56       571
8.001--8.500                      32      8,903,580       2.48      9.236       356        80.32       566
8.501--9.000                       4        948,143       0.26      9.501       357        88.79       603
9.001--9.500                       2        192,947       0.05     11.366       356        83.34       537
9.501--10.000                      1         55,974       0.02     12.999       358        80.00       593
------------------------------------------------------------------------------------------------------------
Total:                         1,955    358,961,610     100.00      8.823       354        78.00       572
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 9.999
Non-Zero Weighted Average: 6.510

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                        % of
                                                      Mortgage
                                                      Pool by
                                        Aggregate    Aggregate   Weighted    Weighted   Weighted
                             Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                               of         Date          Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage   Mortgage    Principal    Principal   Interest      Term     Original     FICO
        Rates (%)            Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-----------------------------------------------------------------------------------------------------------

Fixed Rate Loans                340     39,814,130      11.09      9.262       334        79.31       572
5.501--6.000                      3      1,155,323       0.32      7.881       351        81.08       587
6.001--6.500                     18      3,733,923       1.04      6.694       356        78.24       592
6.501--7.000                     44     10,813,468       3.01      6.860       356        73.54       596
7.001--7.500                    100     22,998,759       6.41      7.352       356        77.54       597
7.501--8.000                    236     55,761,991      15.53      7.831       357        76.23       585
8.001--8.500                    201     42,870,721      11.94      8.293       357        77.52       582
8.501--9.000                    319     63,604,112      17.72      8.809       357        76.75       569
9.001--9.500                    200     38,969,765      10.86      9.313       357        78.98       565
9.501--10.000                   253     44,920,305      12.51      9.797       357        79.23       552
10.001 -10.500                  117     16,905,444       4.71     10.301       357        82.31       559
10.501--11.000                   85     11,905,570       3.32     10.772       357        82.73       552
11.001--11.500                   25      3,609,194       1.01     11.207       357        72.33       548
11.501--12.000                    9      1,268,454       0.35     11.770       358        74.01       532
12.001--12.500                    3        524,365       0.15     12.061       355        84.47       593
12.501--13.000                    2        106,086       0.03     12.777       358        82.36       569
-----------------------------------------------------------------------------------------------------------
Total:                        1,955    358,961,610     100.00      8.823       354        78.00       572
-----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 12.999
Non-Zero Weighted Average: 8.755

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
   Range of Maximum Mortgage     Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Rates (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     340     39,814,130      11.09      9.262       334        79.31       572
<= 12.500                             23      5,858,953       1.63      6.947       355        73.81       592
12.501--13.000                        34      7,692,648       2.14      7.640       356        79.45       591
13.001--13.500                        40      9,883,010       2.75      7.646       356        80.63       585
13.501--14.000                        91     21,344,228       5.95      7.729       356        73.35       583
14.001--14.500                       115     25,990,609       7.24      7.747       356        76.42       592
14.501--15.000                       221     51,156,759      14.25      8.090       357        76.49       583
15.001--15.500                       193     39,948,938      11.13      8.537       357        77.93       579
15.501--16.000                       295     57,646,140      16.06      8.919       357        77.48       568
16.001--16.500                       170     31,201,008       8.69      9.359       357        79.54       564
16.501--17.000                       225     39,159,589      10.91      9.828       357        78.85       549
17.001--17.500                       102     15,055,172       4.19     10.334       357        81.22       557
17.501--18.000                        76     10,110,893       2.82     10.846       357        82.96       550
18.001--18.500                        21      2,692,761       0.75     11.216       357        76.37       546
18.501--19.000                         4        481,706       0.13     11.790       358        90.02       558
19.001--19.500                         3        524,365       0.15     12.061       355        84.47       593
19.501--20.000                         1         55,974       0.02     12.999       358        80.00       593
23.501--24.000                         1        344,727       0.10      8.350       356        80.00       596
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.100
Maximum: 23.690
Non-Zero Weighted Average: 15.455

INITIAL PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off       Cut-off    Average    Average     Average   Weighted
                                    of         Date          Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Initial Periodic Cap (%)        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     340     39,814,130      11.09      9.262       334        79.31       572
1.000                                  1        264,335       0.07      8.025       356        95.00       616
1.500                                279     52,398,078      14.60      8.925       357        76.84       564
2.000                                388     82,772,110      23.06      8.543       357        76.75       579
3.000                                947    183,712,957      51.18      8.825       357        78.59       572
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 3.000
Non-Zero Weighted Average: 2.493

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     340     39,814,130      11.09      9.262       334        79.31       572
1.000                                511    107,230,915      29.87      8.673       356        78.13       576
1.500                              1,097    210,527,040      58.65      8.816       357        77.80       571
2.000                                  7      1,389,525       0.39      8.861       353        60.61       541
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.334

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     340     39,814,130      11.09      9.262       334        79.31       572
4                                      2        542,838       0.15      7.742       352        84.95       602
14                                     5        968,675       0.27      7.864       350        79.91       557
15                                    12      2,381,402       0.66      8.079       351        75.45       577
16                                    22      4,059,007       1.13      8.260       352        73.32       578
17                                    26      5,982,417       1.67      8.478       353        81.12       582
18                                    35      7,844,000       2.19      8.771       354        78.19       580
19                                    81     18,053,464       5.03      8.599       355        76.56       582
20                                   196     43,237,682      12.05      8.624       356        77.95       581
21                                   273     59,100,856      16.46      8.783       357        77.95       572
22                                   407     82,295,521      22.93      8.721       358        77.52       574
23                                    86     15,195,687       4.23      8.746       359        77.17       565
24                                     1        252,000       0.07      9.450       360        80.00       593
26                                     1        343,599       0.10      7.350       350        79.45       609
28                                     1        167,671       0.05      8.625       352        80.00       574
30                                     6        975,858       0.27      8.492       354        82.32       576
31                                    16      3,091,668       0.86      8.906       355        78.30       555
32                                    38      6,592,165       1.84      8.907       356        77.27       564
33                                   181     29,881,554       8.32      9.022       357        79.24       562
34                                   207     34,731,979       9.68      9.067       358        78.14       567
35                                    13      2,295,615       0.64      9.002       359        73.12       568
55                                     2        750,831       0.21      8.819       355        76.48       578
56                                     1        125,744       0.04      9.400       356        86.90       605
57                                     1         76,402       0.02     10.500       357        85.00       615
58                                     2        200,845       0.06      8.342       358        67.54       575
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4
Maximum: 58
Non-Zero Weighted Average: 24

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
  Geographic Distribution of     Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

California                           281     84,011,218      23.40      8.409       353        76.92       579
Florida                              311     54,907,271      15.30      8.742       355        75.75       571
Illinois                             152     26,438,870       7.37      9.049       354        81.16       574
Arizona                               80     16,024,545       4.46      9.034       356        77.06       562
New York                              53     15,567,094       4.34      8.491       354        75.09       583
Texas                                141     13,346,625       3.72      9.144       345        80.45       569
Maryland                              60     12,834,195       3.58      8.731       357        75.15       565
Massachusetts                         44     10,592,107       2.95      9.064       357        79.33       577
New Jersey                            43      9,985,861       2.78      9.468       357        75.94       552
Virginia                              57      9,910,060       2.76      8.929       357        75.66       573
Pennsylvania                          79      9,580,080       2.67      9.101       356        80.62       572
Washington                            47      9,464,256       2.64      8.523       355        79.36       565
Michigan                              81      9,134,813       2.54      9.486       356        81.94       567
Nevada                                34      7,416,798       2.07      8.315       354        78.95       587
Rhode Island                          34      7,054,876       1.97      8.737       357        75.59       565
Other                                458     62,692,941      17.47      9.148       355        80.56       571
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 49

OCCUPANCY



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Occupancy               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Primary                            1,856    342,977,817      95.55      8.799       354        78.13       572
Investment                            83     12,826,304       3.57      9.376       356        74.77       588
Second Home                           16      3,157,489       0.88      9.121       356        76.81       584
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Property Type             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Single Family Residence            1,682    300,258,845      83.65      8.815       354        78.50       572
2-4 Family                            96     23,387,893       6.52      8.880       356        73.29       575
Planned Unit Development              92     21,744,977       6.06      8.702       355        76.36       569
Condo                                 85     13,569,895       3.78      9.085       351        77.73       573
----------------------------------------------------------------------------------------------------------------
Total:                             1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                  % of
                                                Mortgage
                                                Pool by
                                  Aggregate    Aggregate   Weighted    Weighted  Weighted
                       Number      Cut-off      Cut-off    Average     Average    Average   Weighted
                         of         Date          Date      Gross     Remaining  Combined   Average
                      Mortgage    Principal    Principal   Interest      Term    Original     FICO
Loan Purpose           Loans     Balance ($)    Balance    Rate (%)    (months)     LTV      Score
----------------------------------------------------------------------------------------------------

Refinance--Cashout      1,358    262,009,969      72.99      8.803        356     76.29        567
Purchase                  466     74,103,521      20.64      8.948        350     83.41        591
Refinance--Rate Term      131     22,848,120       6.37      8.648        354     80.12        577
----------------------------------------------------------------------------------------------------
Total:                  1,955    358,961,610     100.00      8.823        354     78.00        572
----------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted  Weighted
                         Number      Cut-off      Cut-off    Average     Average    Average   Weighted
                           of         Date          Date      Gross     Remaining  Combined   Average
                        Mortgage    Principal    Principal   Interest      Term    Original     FICO
Documentation Level      Loans     Balance ($)    Balance    Rate (%)    (months)     LTV      Score
------------------------------------------------------------------------------------------------------

Full Documentation         1,220   201,837,540      56.23      8.640       354       78.66       570
Stated Documentation         649   139,349,715      38.82      9.088       355       76.71       575
Limited Documentation         86    17,774,354       4.95      8.824       350       80.68       579
------------------------------------------------------------------------------------------------------
Total:                     1,955   358,961,610     100.00      8.823       354       78.00       572
------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                           % of
                                         Mortgage
                                         Pool by
                           Aggregate    Aggregate   Weighted    Weighted   Weighted
                Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                  of         Date          Date      Gross     Remaining   Combined   Average
               Mortgage    Principal    Principal   Interest      Term     Original     FICO
Credit Score    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
----------------------------------------------------------------------------------------------

500--524           279     46,441,483      12.94      9.545       356        71.85       512
525--549           314     53,891,969      15.01      9.290       357        73.26       537
550--574           349     62,693,438      17.47      8.943       357        77.64       562
575--599           457     85,015,577      23.68      8.664       354        80.25       588
600--624           556    110,919,142      30.90      8.347       351        81.36       609
----------------------------------------------------------------------------------------------
Total:           1,955    358,961,610     100.00      8.823       354        78.00       572
----------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 619
Non-Zero Weighted Average: 572

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
TERMSHEET UNDER 620 FICO                                           1,955 records
                                                           Balance: $358,961,610
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of         Date          Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             581     98,673,408      27.49      9.140       354        78.78       570
6                               5        962,086       0.27      9.846       358        75.61       535
12                             80     21,559,028       6.01      8.621       355        76.89       580
24                            771    154,567,313      43.06      8.590       355        77.44       576
30                              4        840,285       0.23      9.912       357        81.65       579
36                            467     76,463,451      21.30      8.891       354        78.56       568
48                              1        145,964       0.04      8.500       359        36.50       529
60                             46      5,750,074       1.60      9.168       352        77.18       552
---------------------------------------------------------------------------------------------------------
Total:                      1,955    358,961,610     100.00      8.823       354        78.00       572
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 27

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off    Average     Average     Average  Weighted
              of         Date          Date      Gross     Remaining   Combined  Average
Lien       Mortgage    Principal    Principal   Interest      Term     Original    FICO
Position    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV     Score
-----------------------------------------------------------------------------------------

1st Lien     1,887    355,093,565      98.92      8.790       356        77.76      572
2nd Lien        68      3,868,046       1.08     11.855       214        99.81      604
-----------------------------------------------------------------------------------------
Total:       1,955    358,961,610     100.00      8.823       354        78.00      572
-----------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted  Weighted
                      Number      Cut-off      Cut-off    Average     Average    Average   Weighted
                        of         Date          Date      Gross     Remaining  Combined   Average
                     Mortgage    Principal    Principal   Interest      Term    Original     FICO
Interest Only Term    Loans     Balance ($)    Balance    Rate (%)    (months)     LTV      Score
---------------------------------------------------------------------------------------------------

0                      1,846    327,140,028      91.14      8.924       354       77.67       569
24                         1        221,000       0.06      6.250       358       78.93       585
36                         2        411,500       0.11      8.195       357       75.77       611
60                       106     31,189,083       8.69      7.786       356       81.48       606
---------------------------------------------------------------------------------------------------
Total:                 1,955    358,961,610     100.00      8.823       354       78.00       572
---------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



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IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 132
Aggregate Principal Balance ($): 11,994,359
Weighted Average Current Mortgage Rate (%): 9.368
Non-Zero Weighted Average Margin (%): 6.737
Non-Zero Weighted Average Maximum Rate (%): 16.231
Weighted Average Stated Original Term (months): 356
Weighted Average Stated Remaining Term (months): 353
Weighted Average Combined Original LTV (%): 85.29
% First Liens: 98.33
% Owner Occupied: 81.39
% Purchase: 45.75
% Full Doc: 64.32
Non-Zero Weighted Average Credit Score: 602

ORIGINATOR



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                      of          Date         Date      Gross     Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            Originator               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Accredited                             14       1,507,708      12.57      9.407       357        80.30       578
Chapel                                  1          59,072       0.49     10.250       353        75.00       509
Encore                                  4         314,911       2.63      9.261       356        79.43       572
First Banc                              1         117,203       0.98      8.950       354        70.00       506
First Horizon                          13       1,344,576      11.21      9.789       355        90.08       642
First NLC                              68       6,081,086      50.70      9.416       349        86.42       602
Lenders Direct                          1          59,228       0.49      9.550       355        95.00       754
Lime Financial                          3         198,117       1.65      9.200       356        83.63       601
Master Financial                        3         325,359       2.71      8.993       356        92.36       570
Maxim                                   1          59,908       0.50      9.375       357        80.00       543
New Century                            21       1,851,260      15.43      8.934       358        83.28       610
Rose Mortgage                           2          75,932       0.63     10.160       358        84.00       648
------------------------------------------------------------------------------------------------------------------
Total:                                132      11,994,359     100.00      9.368       353        85.29       602
------------------------------------------------------------------------------------------------------------------


PRODUCT WITH IO TERM



                                                               % of
                                                             Mortgage
                                                             Pool by
                                               Aggregate    Aggregate   Weighted    Weighted   Weighted
                                    Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                                      of         Date          Date      Gross     Remaining   Combined    Average
                                   Mortgage    Principal    Principal   Interest      Term     Original     FICO
     Product with IO term            Loans    Balance ($)    Balance    Rate (%)    (months)       LTV      Score
------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                          1         147,366       1.23      9.500       177        90.00       575
Fixed--25 Year                          1          72,027       0.60      7.200       298        95.00       684
Fixed--30 Year                         18       1,371,612      11.44      9.294       357        86.35       589
Balloon--15/30                          3         103,406       0.86     12.985       176        99.99       649
Balloon--30/40                          2         165,399       1.38      9.246       357        89.94       638
ARM--2 Year/6 Month Balloon 30/40       9         858,657       7.16      8.837       356        86.82       576
ARM--3 Year/6 Month Balloon 30/40       4         446,333       3.72      8.985       357        84.23       583
ARM--2 Year/6 Month                    55       5,156,555      42.99      9.418       357        85.21       615
ARM--3 Year/6 Month                    37       3,430,604      28.60      9.504       357        84.03       593
Interest Only ARM--2 Year/6
   Month--60 mo. IO term                1         128,000       1.07      8.575       359        80.00       653
Interest Only ARM--3 Year/6
   Month--60 mo. IO term                1         114,400       0.95      8.400       358        80.00       598
------------------------------------------------------------------------------------------------------------------
Total:                                132      11,994,359     100.00      9.368       353        85.29       602
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

RANGE OF GROSS INTEREST RATES (%)



                                                                % of
                                                              Mortgage
                                                               Pool by
                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of         Date          Date       Gross    Remaining   Combined    Average
                                    Mortgage    Principal    Principal   Interest      Term     Original     FICO
Range of Gross Interest Rates (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------------

7.000--7.999                             9         964,213       8.04      7.722       353         86.47      625
8.000--8.999                            42       4,663,360      38.88      8.626       357         84.55      608
9.000--9.999                            43       3,722,115      31.03      9.509       350         85.05      604
10.000--10.999                          24       1,850,647      15.43     10.485       357         84.72      563
11.000--11.999                           4         200,033       1.67     11.201       357         84.66      553
12.000--12.999                           7         512,859       4.28     12.804       333         91.44      650
13.000--13.999                           3          81,131       0.68     13.370       285        100.00      636
-------------------------------------------------------------------------------------------------------------------
Total:                                 132      11,994,359     100.00      9.368       353         85.29      602
-------------------------------------------------------------------------------------------------------------------


Minimum: 7.200
Maximum: 13.440
Weighted Average: 9.368

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                % of
                                                             Mortgage
                                                              Pool by
                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                     Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                       of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal     Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Balances ($)                 Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
-------------------------------------------------------------------------------------------------------------------

1--25,000                                3          60,625       0.51     12.054       289       100.00       670
25,001--50,000                          10         393,162       3.28     11.523       320        94.58       647
50,001--75,000                          39       2,493,538      20.79      9.753       355        84.08       600
75,001--100,000                         34       2,929,883      24.43      9.187       357        84.57       601
100,001--125,000                        25       2,740,038      22.84      9.282       357        84.90       586
125,001--150,000                         9       1,234,565      10.29      8.736       336        82.88       603
150,001--175,000                         8       1,268,050      10.57      8.501       357        88.91       627
175,001--200,000                         2         373,022       3.11      9.396       358        82.50       562
225,001--250,000                         1         244,987       2.04     12.975       358        95.00       685
250,001--275,000                         1         256,488       2.14      8.500       358        80.00       587
-------------------------------------------------------------------------------------------------------------------
Total:                                 132      11,994,359     100.00      9.368       353        85.29       602
-------------------------------------------------------------------------------------------------------------------


Minimum: 15,194
Maximum: 256,488
Average: 90,866

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

STATED ORIGINAL TERM (MONTHS)



                                                            % of
                                                         Mortgage
                                                          Pool by
                                            Aggregate    Aggregate   Weighted    Weighted   Weighted
                                 Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                   of          Date         Date       Gross    Remaining   Combined   Average
                                Mortgage    Principal    Principal   Interest     Term      Original     FICO
Stated Original Term (months)    Loans     Balance ($)    Balance    Rate (%)    (months)     LTV       Score
---------------------------------------------------------------------------------------------------------------

180                                  4         250,772       2.09     10.937       177        94.12      605
300                                  1          72,027       0.60      7.200       298        95.00      684
360                                127      11,671,560      97.31      9.347       357        85.04      602
---------------------------------------------------------------------------------------------------------------
Total:                             132      11,994,359     100.00      9.368       353        85.29      602
---------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 356

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate    Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average     Average     Average   Weighted
                                     of          Date         Date       Gross     Remaining   Combined   Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest       Term     Original     FICO
           (months)                 Loans    Balance ($)    Balance    Rate (%)     (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

169--180                               4         250,772       2.09      10.937       177        94.12       605
289--300                               1          72,027       0.60       7.200       298        95.00       684
349--360                             127      11,671,560      97.31       9.347       357        85.04       602
------------------------------------------------------------------------------------------------------------------
Total:                               132      11,994,359     100.00       9.368       353        85.29       602
------------------------------------------------------------------------------------------------------------------


Minimum: 173
Maximum: 359
Weighted Average: 353

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                            % of
                                                          Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off     Cut-off      Average    Average     Average   Weighted
                                    of          Date       Date        Gross     Remaining   Combined    Average
Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Ratios (%)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

65.01--70.00                          3         229,081       1.91      9.844       355        70.00       512
70.01--75.00                          8         742,289       6.19      9.017       357        74.44       539
75.01--80.00                         47       4,657,151      38.83      9.082       357        79.97       607
80.01--85.00                         18       1,494,089      12.46      9.885       357        84.70       582
85.01--90.00                         30       2,736,804      22.82      9.363       347        90.00       608
90.01--95.00                         12       1,165,330       9.72      9.708       353        94.49       646
95.01--100.00                        14         969,614       8.08      9.704       337        99.31       614
----------------------------------------------------------------------------------------------------------------
Total:                              132      11,994,359     100.00      9.368       353        85.29       602
----------------------------------------------------------------------------------------------------------------


Minimum: 70.00
Maximum: 100.00
Weighted Average: 85.29

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                         % of
                                                      Mortgage
                                                       Pool by
                                        Aggregate     Aggregate   Weighted    Weighted   Weighted
                              Number    Cut-off        Cut-off     Average    Average     Average   Weighted
                                of      Date             Date       Gross    Remaining   Combined    Average
                             Mortgage   Principal     Principal   Interest      Term     Original     FICO
Range of Gross Margins (%)    Loans     Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                 25       1,859,809      15.51      9.430        330       88.05      599
4.501--5.000                      2         263,238       2.19      7.994        357       84.57      563
5.001--5.500                      5         447,112       3.73      9.310        357       86.45      628
5.501--6.000                     17       1,456,577      12.14      9.145        357       86.71      608
6.001--6.500                     28       2,956,647      24.65      9.321        358       84.79      608
6.501--7.000                      4         333,956       2.78      9.061        356       78.22      581
7.001--7.500                     46       4,210,141      35.10      9.493        357       84.51      602
7.501--8.000                      1          71,739       0.60     10.000        355       80.00      577
8.001--8.500                      1         117,203       0.98      8.950        354       70.00      506
8.501--9.000                      1         157,981       1.32      8.950        352      100.00      646
9.001--9.500                      1          63,982       0.53     12.125        359       80.00      548
9.501--10.000                     1          55,974       0.47     12.999        358       80.00      593
------------------------------------------------------------------------------------------------------------
Total:                          132      11,994,359     100.00      9.368        353       85.29      602
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 4.990
Maximum: 9.999
Non-Zero Weighted Average: 6.737

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
               (%)                  Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      25       1,859,809      15.51      9.430       330       88.05        599
7.001--7.500                           1         162,742       1.36      7.200       358       95.88        608
7.501--8.000                           6         628,163       5.24      7.913       357       84.10        617
8.001--8.500                          15       1,752,000      14.61      8.375       358       81.95        608
8.501--9.000                          20       2,201,733      18.36      8.816       356       86.14        621
9.001--9.500                          18       1,347,831      11.24      9.259       357       83.81        613
9.501--10.000                         19       1,791,785      14.94      9.733       357       85.03        594
10.001--10.500                        11         807,025       6.73     10.215       357       83.32        562
10.501--11.000                        11         949,440       7.92     10.742       357       85.91        561
11.001--11.500                         1          52,426       0.44     11.100       356       70.00        502
12.001--12.500                         1          63,982       0.53     12.125       359       80.00        548
12.501--13.000                         4         377,423       3.15     12.923       358       91.76        666
-----------------------------------------------------------------------------------------------------------------
Total:                               132      11,994,359     100.00      9.368       353       85.29        602
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 7.200
Maximum: 12.999
Non-Zero Weighted Average: 9.356

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                            % of
                                                           Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average    Average    Weighted
                                     of          Date         Date       Gross    Remaining   Combined   Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                  Loans     Balance ($)    Balance    Rate (%)    (months)       LTV      Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      25       1,859,809      15.51      9.430       330        88.05        599
13.501--14.000                         2         230,834       1.92      8.271       356        87.10        583
14.001--14.500                         2         235,694       1.97      7.881       357        92.51        635
14.501--15.000                         6         584,965       4.88      8.065       357        81.38        617
15.001--15.500                        20       2,086,206      17.39      8.526       357        81.64        607
15.501--16.000                        20       2,150,336      17.93      8.912       356        86.49        621
16.001--16.500                        14       1,115,548       9.30      9.387       357        84.01        600
16.501--17.000                        18       1,720,046      14.34      9.721       357        85.24        595
17.001--17.500                         9         632,151       5.27     10.207       357        84.70        568
17.501--18.000                        10         884,938       7.38     10.741       358        85.98        564
18.001--18.500                         1          52,426       0.44     11.100       356        70.00        502
19.001--19.500                         1          63,982       0.53     12.125       359        80.00        548
19.501--20.000                         4         377,423       3.15     12.923       358        91.76        666
----------------------------------------------------------------------------------------------------------------
Total:                               132      11,994,359     100.00      9.368       353        85.29        602
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 13.800
Maximum: 19.999
Non-Zero Weighted Average: 16.231

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                        Aggregate   Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                              of          Date         Date      Gross     Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)     LTV        Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               25      1,859,809       15.51      9.430       330        88.05      599
1.500                          18      1,826,124       15.22      9.330       357        83.15      587
2.000                          16      1,406,274       11.72      9.038       358        80.20      596
3.000                          73      6,902,152       57.54      9.428       357        86.15      608
----------------------------------------------------------------------------------------------------------
Total:                        132     11,994,359      100.00      9.368       353        85.29      602
----------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.591

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
  Subsequent Periodic Cap (%)      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     25       1,859,809      15.51      9.430       330        88.05       599
1.000                                28       2,667,867      22.24      9.498       357        86.48       611
1.500                                79       7,466,682      62.25      9.306       357        84.17       600
----------------------------------------------------------------------------------------------------------------
Total:                              132      11,994,359     100.00      9.368       353        85.29       602
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 1.500
Non-Zero Weighted Average: 1.368

MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     25       1,859,809      15.51      9.430       330        88.05       599
16                                    1         157,981       1.32      8.950       352       100.00       646
17                                    2         177,277       1.48      9.250       353        78.33       564
18                                    2         204,528       1.71      9.099       354        74.27       556
19                                    5         433,804       3.62      9.211       355        89.08       620
20                                   11         988,176       8.24      9.451       356        85.98       580
21                                   18       1,638,927      13.66      9.013       357        85.31       602
22                                   21       2,133,036      17.78      9.563       358        85.29       635
23                                    5         409,484       3.41      9.350       359        82.96       607
29                                    1          67,233       0.56      8.940       353        90.00       657
31                                    3         264,121       2.20      9.891       355        85.34       580
32                                    4         374,757       3.12      8.953       356        84.38       648
33                                   12       1,027,247       8.56      9.391       357        85.61       582
34                                   21       2,202,755      18.36      9.449       358        82.70       586
35                                    1          55,225       0.46      9.875       359        85.00       592
----------------------------------------------------------------------------------------------------------------
Total:                              132      11,994,359     100.00      9.368       353        85.29       602
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 16
Maximum: 35
Non-Zero Weighted Average: 26

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

Michigan                         42       3,667,849      30.58      9.247       357        83.33       589
Ohio                             24       2,356,361      19.65      9.868       341        86.41       608
Tennessee                        17       1,863,042      15.53      9.263       357        87.56       620
Indiana                          22       1,840,756      15.35      9.299       352        88.03       597
Texas                             4         458,469       3.82      8.830       357        83.70       596
Pennsylvania                      5         421,928       3.52      9.117       358        84.66       620
Illinois                          5         363,446       3.03      9.395       346        84.86       605
New York                          6         320,000       2.67      9.608       357        82.35       629
North Carolina                    2         260,919       2.18      9.637       358        80.00       589
Florida                           2         230,554       1.92      8.384       355        77.56       551
South Carolina                    2         139,151       1.16      9.579       357        86.38       683
Mississippi                       1          71,882       0.60      9.050       357        90.00       623
------------------------------------------------------------------------------------------------------------
Total:                          132      11,994,359     100.00      9.368       353        85.29       602
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 12

OCCUPANCY



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Occupancy             Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

Primary                      102       9,761,678      81.39      9.202       352        85.04       593
Investment                    30       2,232,681      18.61     10.093       357        86.35       645
----------------------------------------------------------------------------------------------------------
Total:                       132      11,994,359     100.00      9.368       353        85.29       602
---------------------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
       Property Type        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

Single Family Residence      118      10,796,023      90.01      9.335       352        85.37       601
2-4 Family                    11         912,976       7.61      9.719       357        84.02       606
Condo                          3         285,359       2.38      9.498       358        86.16       658
---------------------------------------------------------------------------------------------------------
Total:                       132      11,994,359     100.00      9.368       353        85.29       602
---------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

LOAN PURPOSE



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Loan Purpose          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

Purchase                      65       5,487,817      45.75      9.640       354        85.24        619
Refinance--Cashout            55       5,204,724      43.39      9.230       351        84.35        584
Refinance--Rate Term          12       1,301,818      10.85      8.775       357        89.20        609
---------------------------------------------------------------------------------------------------------
Total:                       132      11,994,359     100.00      9.368       353        85.29        602
---------------------------------------------------------------------------------------------------------


DOCUMENTATION LEVEL



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                             of          Date         Date       Gross    Remaining   Combined    Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Documentation Level      Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
---------------------------------------------------------------------------------------------------------

Full Documentation            81      7,714,180       64.32      9.146       353        86.03       585
Stated Documentation          47      3,848,376       32.08      9.873       352        84.26       638
Limited Documentation          4        431,802        3.60      8.835       358        81.05       592
---------------------------------------------------------------------------------------------------------
Total:                       132     11,994,359      100.00      9.368       353        85.29       602
---------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average     Average    Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
                             Mortgage    Principal    Principal   Interest      Term     Original     FICO
         Credit Score          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

500--524                         12       1,068,182       8.91      9.926       357        78.24       510
525--549                         13       1,186,135       9.89      9.426       357        79.03       539
550--574                         16       1,456,279      12.14      9.608       357        87.21       562
575--599                         18       1,891,391      15.77      9.195       343        86.81       587
600--624                         24       2,484,014      20.71      8.985       357        86.00       612
625--649                         23       1,673,735      13.95      9.517       348        87.64       638
650--674                         14       1,096,440       9.14      9.034       357        87.14       658
675--699                          5         595,048       4.96     10.386       350        87.99       685
700--724                          5         393,948       3.28      9.074       347        84.78       714
750--774                          2         149,187       1.24      8.609       356        85.96       761
------------------------------------------------------------------------------------------------------------
Total:                          132      11,994,359     100.00      9.368       353        85.29       602
------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 502
Maximum: 765
Non-Zero Weighted Average: 602

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--CONFIDENTIAL ZIP CODES                                   132 records
                                                            Balance: $11,994,359
--------------------------------------------------------------------------------

PREPAYMENT PENALTY TERM



                                                      % of
                                                    Mortgage
                                                    Pool by
                                      Aggregate    Aggregate   Weighted    Weighted   Weighted
                           Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                             of          Date         Date      Gross     Remaining   Combined   Average
                          Mortgage    Principal    Principal   Interest      Term     Original     FICO
Prepayment Penalty Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV      Score
---------------------------------------------------------------------------------------------------------

0                             20       1,431,783      11.94     10.404       350        87.58       618
12                             2         200,637       1.67      8.735       357        82.48       644
24                            56       5,351,485      44.62      9.112       355        85.43       606
30                             1         186,195       1.55      8.990       358        80.00       616
36                            48       4,243,532      35.38      9.341       350        85.28       597
60                             5         580,726       4.84      9.702       357        81.00       549
---------------------------------------------------------------------------------------------------------
Total:                       132      11,994,359     100.00      9.368       353        85.29       602
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 60
Non-Zero Weighted Average: 31

LIEN POSITION



                                       % of
                                     Mortgage
                                     Pool by
                       Aggregate    Aggregate   Weighted    Weighted   Weighted
            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
              of          Date         Date       Gross    Remaining   Combined    Average
 Lien      Mortgage    Principal    Principal   Interest      Term     Original     FICO
Position     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------

1st Lien      125      11,793,912      98.33      9.312       354        85.04       602
2nd Lien        7         200,447       1.67     12.658       264        99.99       640
------------------------------------------------------------------------------------------
Total:        132      11,994,359     100.00      9.368       353        85.29       602
------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                 % of
                                               Mortgage
                                               Pool by
                                 Aggregate    Aggregate   Weighted    Weighted   Weighted
                      Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                        of          Date         Date       Gross    Remaining   Combined    Average
                     Mortgage    Principal    Principal   Interest      Term     Original     FICO
Interest Only Term     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------

0                       130      11,751,959      97.98      9.386       353        85.40       602
60                        2         242,400       2.02      8.492       359        80.00       627
-----------------------------------------------------------------------------------------------------
Total:                  132      11,994,359     100.00      9.368       353        85.29       602
-----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



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to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
characteristics described in these materials. Our obligation to sell securities
to you is conditioned on the securities and the underlying transaction having
the characteristics described in these materials. If we determine that condition
is not satisfied in any material respect, we will notify you, and neither the
issuing entity nor the underwriters will have any obligation to you to deliver
all or any portion of the securities which you have committed to purchase, and
there will be no liability between us as a consequence of the non-delivery.

                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

This material has been prepared for information purposes to support the
promotion or marketing of the transaction or matters addressed herein. This is
not a research report and was not prepared by the Morgan Stanley research
department. It was prepared by Morgan Stanley sales, trading, banking or other
non-research personnel. This material was not intended or written to be used,
and it cannot be used by any taxpayer, for the purpose of avoiding penalties
that may be imposed on the taxpayer under U.S. federal tax laws. Each taxpayer
should seek advice based on the taxpayers particular circumstances from an
independent tax advisor. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and other
documents the depositor has filed with the SEC for more complete information
about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

     IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of the
email communication to which this material is attached are not applicable to
these materials and should be disregarded. Such legends, disclaimers or other
notices have been automatically generated as a result of these materials having
been sent via Bloomberg or another email system.



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

SUMMARY STATISTICS

Number of Mortgage Loans: 226
Aggregate Principal Balance ($): 58,721,980
Weighted Average Current Mortgage Rate (%): 8.170
Non-Zero Weighted Average Margin (%): 6.191
Non-Zero Weighted Average Maximum Rate (%): 14.507
Weighted Average Stated Original Term (months): 348
Weighted Average Stated Remaining Term (months): 345
Weighted Average Combined Original LTV (%): 81.99
% First Liens: 92.78
% Owner Occupied: 95.56
% Purchase: 54.02
% Full Doc: 33.41
Non-Zero Weighted Average Credit Score: 644

ORIGINATOR



                                               % of
                                             Mortgage
                                             Pool by
                               Aggregate    Aggregate   Weighted   Weighted    Weighted
                    Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                      of         Date          Date      Gross     Remaining   Combined   Average
                   Mortgage    Principal    Principal   Interest     Term      Original     FICO
   Originator       Loans     Balance ($)    Balance    Rate (%)   (months)      LTV       Score
--------------------------------------------------------------------------------------------------

Accredited              6       2,006,923       3.42      8.148       358        77.55      620
Encore                 29      10,106,950      17.21      7.957       356        82.27      650
First Banc             17       3,953,377       6.73      8.048       344        81.88      608
First NLC              86      20,561,781      35.02      8.066       341        81.24      645
Flex Point              2         606,909       1.03      8.349       356        72.35      607
Funding America         6       1,057,583       1.80      8.628       355        85.81      666
Lenders Direct          3         550,893       0.94      9.060       271        89.05      688
Lime Financial          5         916,045       1.56      7.455       334        82.50      652
Mandalay               11       1,469,876       2.50      8.577       279        89.94      705
Master Financial       33       7,842,111      13.35      8.306       337        82.34      638
New Century            24       8,269,471      14.08      8.561       357        82.79      647
Quick Loan              4       1,380,061       2.35      7.793       356        80.92      634
--------------------------------------------------------------------------------------------------
Total:                226      58,721,980     100.00      8.170       345        81.99      644
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      1



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

PRODUCT WITH IO TERM



                                                                               % of
                                                                             Mortgage
                                                                              Pool by
                                                                Aggregate    Aggregate   Weighted    Weighted   Weighted
                                                     Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                                       of         Date          Date      Gross     Remaining   Combined   Average
                                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
                Product with IO term                 Loans     Balance ($)    Balance    Rate (%)   (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------------------------

Fixed--15 Year                                           1          81,146       0.14     11.790       175       100.00       634
Fixed--30 Year                                          11       1,535,330       2.61      8.736       356        73.90       626
Balloon--15/30                                          50       3,683,537       6.27     11.229       175        99.91       666
Balloon--30/40                                           2         878,092       1.50      7.447       357        83.00       679
ARM--2 Year/6 Month Balloon 30/40                       67      21,277,449      36.23      7.835       357        80.41       641
ARM--2 Year/6 Month Balloon 30/50                        1         203,935       0.35      8.450       357        80.00       625
ARM--3 Year/6 Month Balloon 30/40                        5       1,390,066       2.37      8.124       357        75.52       615
ARM--2 Year/6 Month                                     27       9,140,816      15.57      8.534       356        80.35       618
ARM--3 Year/6 Month                                      4       1,465,687       2.50      8.412       357        84.18       573
ARM--5 Year/6 Month                                      1         163,942       0.28      6.950       354        55.00       686
Interest Only Fixed--30 Year--60 mo. IO term             1         488,000       0.83      7.150       357        78.71       644
Interest Only ARM--2 Year/6 Month--60 mo. IO term       49      16,472,982      28.05      7.792       356        82.62       663
Interest Only ARM--3 Year/6 Month--60 mo. IO term        7       1,940,999       3.31      7.432       356        79.18       651
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                                 226      58,721,980     100.00      8.170       345        81.99       644
-----------------------------------------------------------------------------------------------------------------------------------


RANGE OF GROSS INTEREST RATES (%)



                                                                              % of
                                                                             Mortgage
                                                                              Pool by
                                                                Aggregate    Aggregate   Weighted   Weighted    Weighted
                                                     Number      Cut-off      Cut-off    Average     Average    Average    Weighted
                                                       of         Date          Date      Gross     Remaining   Combined   Average
                                                    Mortgage    Principal    Principal   Interest     Term      Original     FICO
           Range of Gross Interest Rates (%)         Loans     Balance ($)    Balance    Rate (%)   (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------------------------

5.000--5.999                                             1         270,882       0.46      5.990       350        90.00       614
6.000--6.999                                            25       7,801,859      13.29      6.754       356        77.31       673
7.000--7.999                                            75      24,003,217      40.88      7.588       356        80.68       643
8.000--8.999                                            55      16,722,549      28.48      8.389       357        80.21       629
9.000--9.999                                            14       4,950,634       8.43      9.530       348        87.10       636
10.000--10.999                                          18       1,856,871       3.16     10.504       242        95.17       690
11.000--11.999                                          29       2,348,490       4.00     11.472       225        95.64       644
12.000--12.999                                           9         767,478       1.31     12.186       197       100.00       640
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                                 226      58,721,980     100.00      8.170       345        81.99       644
-----------------------------------------------------------------------------------------------------------------------------------


Minimum: 5.990
Maximum: 12.450
Weighted Average: 8.170

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      2



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Cut-off Date Principal   Mortgage    Principal    Principal   Interest      Term     Original     FICO
          Balances ($)              Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

25,001--50,000                         6         240,922       0.41     10.951       175        98.59        662
50,001--75,000                        26       1,674,795       2.85     11.270       183       100.00        653
75,001--100,000                       17       1,470,742       2.50     11.018       206        95.40        685
100,001--125,000                       6         657,525       1.12     11.585       205       100.00        665
125,001--150,000                       4         562,293       0.96      9.071       307        72.50        615
150,001--175,000                       7       1,106,451       1.88      7.963       356        68.13        604
175,001--200,000                       5         936,682       1.60      7.510       356        72.53        647
200,001--225,000                      13       2,754,430       4.69      7.957       357        79.52        643
225,001--250,000                      14       3,337,513       5.68      8.031       357        76.25        636
250,001--275,000                      20       5,243,544       8.93      7.713       357        77.80        615
275,001--300,000                      17       4,879,364       8.31      7.930       357        78.89        630
300,001--325,000                      20       6,258,266      10.66      7.823       356        81.85        647
325,001--350,000                      15       5,064,373       8.62      7.848       356        80.66        639
350,001--375,000                      12       4,320,103       7.36      7.890       356        81.03        674
375,001--400,000                      10       3,893,025       6.63      8.040       357        81.60        654
400,001--425,000                       7       2,862,174       4.87      7.772       356        86.04        662
425,001--450,000                       6       2,636,445       4.49      8.344       356        86.68        618
450,001--475,000                       7       3,220,613       5.48      8.006       356        82.82        652
475,001--500,000                       6       2,912,552       4.96      7.447       356        81.71        637
500,001--750,000                       8       4,690,167       7.99      8.486       357        85.07        653
-----------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00      8.170       345        81.99        644
-----------------------------------------------------------------------------------------------------------------


Minimum: 30,314
Maximum: 716,517
Average: 259,832

STATED ORIGINAL TERM (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
Stated Original Term (months)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

180                                   51       3,764,683       6.41     11.241       175       99.91        666
360                                  175      54,957,297      93.59      7.959       356       80.76        642
-----------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00      8.170       345       81.99        644
-----------------------------------------------------------------------------------------------------------------


Minimum: 180
Maximum: 360
Weighted Average: 348

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      3



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

RANGE OF STATED REMAINING TERMS (MONTHS)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Stated Remaining Terms   Mortgage    Principal    Principal   Interest      Term     Original     FICO
            (months)                Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

169--180                              51       3,764,683       6.41     11.241       175       99.91        666
349--360                             175      54,957,297      93.59      7.959       356       80.76        642
-----------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00      8.170       345       81.99        644
-----------------------------------------------------------------------------------------------------------------


Minimum: 169
Maximum: 359
Weighted Average: 345

RANGE OF COMBINED ORIGINAL LTV RATIOS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
 Range of Combined Original LTV   Mortgage    Principal    Principal   Interest      Term     Original     FICO
           Ratios (%)               Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

20.01--25.00                           1          89,730       0.15      7.500       356        24.66       683
40.01--45.00                           3         519,337       0.88      6.958       357        42.11       635
45.01--50.00                           2         299,059       0.51      8.117       354        48.04       577
50.01--55.00                           3         573,604       0.98      7.751       357        54.80       607
60.01--65.00                           3         736,671       1.25      8.842       357        61.51       519
65.01--70.00                           7       1,896,456       3.23      8.391       357        69.77       577
70.01--75.00                           8       2,537,573       4.32      7.716       357        74.61       611
75.01--80.00                         105      32,967,862      56.14      7.745       356        79.80       654
80.01--85.00                          12       5,062,784       8.62      8.075       356        84.48       632
85.01--90.00                          17       6,591,217      11.22      8.172       355        89.75       634
90.01--95.00                          10       3,238,993       5.52      8.967       357        94.79       655
95.01--100.00                         55       4,208,694       7.17     11.270       196       100.00       665
-----------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00      8.170       345        81.99       644
-----------------------------------------------------------------------------------------------------------------


Minimum: 24.66
Maximum: 100.00
Weighted Average: 81.99

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      4



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

RANGE OF GROSS MARGINS (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
                                  Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Range of Gross Margins (%)       Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      65       6,666,105      11.35      9.865       254        90.14       657
<= 3.500                               2         530,882       0.90      6.480       353        85.10       645
3.501--4.000                           1         359,760       0.61      7.490       358        72.73       646
4.001--4.500                           1         340,000       0.58      7.875       358        85.00       657
4.501--5.000                          10       2,949,420       5.02      7.956       357        76.45       659
5.001--5.500                          36      13,038,245      22.20      7.806       356        82.97       655
5.501--6.000                          21       5,948,873      10.13      7.875       356        78.05       639
6.001--6.500                          32      11,120,738      18.94      7.977       357        83.53       652
6.501--7.000                          19       6,024,078      10.26      7.909       356        79.84       623
7.001--7.500                          26       7,854,490      13.38      7.977       357        79.58       638
7.501--8.000                           9       2,296,095       3.91      8.483       357        77.20       612
8.001--8.500                           3       1,161,045       1.98      8.983       355        76.40       562
8.501--9.000                           1         432,250       0.74      9.650       358        95.00       629
-----------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00      8.170       345        81.99       644
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 2.250
Maximum: 8.700
Non-Zero Weighted Average: 6.191

RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate   Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                     of          Date         Date       Gross    Remaining   Combined    Average
Range of Minimum Mortgage Rates   Mortgage    Principal    Principal   Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      65       6,666,105      11.35      9.865       254        90.14       657
5.501--6.000                           2         572,612       0.98      6.904       352        84.73       666
6.001--6.500                           4       1,421,533       2.42      6.357       355        77.81       681
6.501--7.000                          19       5,719,309       9.74      6.844       356        77.35       668
7.001--7.500                          29       8,817,177      15.02      7.284       356        81.48       644
7.501--8.000                          39      13,473,595      22.94      7.801       357        81.29       643
8.001--8.500                          36      11,518,465      19.62      8.244       356        81.33       637
8.501--9.000                          18       4,852,359       8.26      8.739       357        77.56       609
9.001--9.500                           5       2,204,967       3.75      9.205       356        81.02       644
9.501--10.000                          7       2,916,693       4.97      9.824       357        89.78       633
10.501--11.000                         1         229,732       0.39     10.900       358        95.00       679
11.001--11.500                         1         329,432       0.56     11.250       355        69.92       585
-----------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00      8.170       345        81.99       644
-----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 5.750
Maximum: 11.250
Non-Zero Weighted Average: 7.941

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      5



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % of
                                                            Mortgage
                                                            Pool by
                                              Aggregate    Aggregate    Weighted    Weighted   Weighted
                                   Number      Cut-off      Cut-off     Average     Average     Average   Weighted
                                     of          Date         Date       Gross     Remaining   Combined    Average
Range of Maximum Mortgage Rates   Mortgage    Principal    Principal    Interest      Term     Original     FICO
              (%)                   Loans    Balance ($)    Balance     Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                      65       6,666,105      11.35       9.865       254        90.14       657
<= 12.500                             10       2,957,765       5.04       6.697       355        76.39       653
12.501--13.000                        10       3,942,514       6.71       7.726       356        83.03       645
13.001--13.500                         9       3,157,999       5.38       7.754       355        83.40       667
13.501--14.000                        19       5,800,430       9.88       7.237       356        80.15       661
14.001--14.500                        27       8,058,370      13.72       7.469       356        82.16       649
14.501--15.000                        32      10,980,346      18.70       7.970       357        80.54       644
15.001--15.500                        30       9,553,627      16.27       8.259       357        80.31       626
15.501--16.000                        14       3,437,594       5.85       8.730       357        75.86       594
16.001--16.500                         2       1,392,112       2.37       9.168       355        81.97       663
16.501--17.000                         6       2,215,954       3.77       9.771       357        89.71       637
17.501--18.000                         1         229,732       0.39      10.900       358        95.00       679
18.001--18.500                         1         329,432       0.56      11.250       355        69.92       585
------------------------------------------------------------------------------------------------------------------
Total:                               226      58,721,980     100.00       8.170       345        81.99       644
------------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 11.100
Maximum: 18.250
Non-Zero Weighted Average: 14.507

INITIAL PERIODIC CAP (%)



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
Initial Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Fixed Rate Loans               65       6,666,105      11.35      9.865       254       90.14       657
1.500                          14       5,067,787       8.63      8.571       357       79.81       642
2.000                          54      18,310,708      31.18      8.087       356       82.96       644
3.000                          93      28,677,379      48.84      7.758       356       79.86       641
---------------------------------------------------------------------------------------------------------
Total:                        226      58,721,980     100.00      8.170       345       81.99       644
---------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.500
Maximum: 3.000
Non-Zero Weighted Average: 2.502

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      6



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

SUBSEQUENT PERIODIC CAP (%)



                                                          % of
                                                        Mortgage
                                                        Pool by
                                          Aggregate    Aggregate   Weighted    Weighted   Weighted
                               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                 of          Date         Date       Gross    Remaining   Combined    Average
                              Mortgage    Principal    Principal   Interest      Term     Original     FICO
Subsequent Periodic Cap (%)     Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
-------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                  65       6,666,105      11.35      9.865       254        90.14       657
1.000                             76      24,368,372      41.50      7.848       355        81.54       641
1.500                             84      27,237,503      46.38      8.059       357        80.27       643
2.000                              1         450,000       0.77      7.190       352        90.00       653
-------------------------------------------------------------------------------------------------------------
Total:                           226      58,721,980     100.00      8.170       345        81.99       644
-------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.270


MONTHS TO NEXT RATE ADJUSTMENT



                                                             % of
                                                           Mortgage
                                                           Pool by
                                             Aggregate    Aggregate   Weighted    Weighted   Weighted
                                  Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                    of          Date         Date       Gross    Remaining   Combined    Average
                                 Mortgage    Principal    Principal   Interest      Term     Original     FICO
Months to Next Rate Adjustment     Loans    Balance ($)    Balance    Rate (%)    (months)       LTV      Score
----------------------------------------------------------------------------------------------------------------

Fixed Rate Loans                     65       6,666,105      11.35      9.865       254        90.14       657
14                                    2         634,879       1.08      6.282       350        84.27       726
16                                    2         688,693       1.17      7.488       352        86.08       633
17                                    8       2,835,512       4.83      7.373       353        82.05       650
18                                    6       2,303,600       3.92      8.089       354        81.05       602
19                                   11       3,113,699       5.30      8.254       355        82.13       642
20                                   42      14,316,068      24.38      7.791       356        81.47       650
21                                   33      10,829,118      18.44      8.214       357        80.55       646
22                                   38      11,666,464      19.87      8.077       358        79.85       640
23                                    2         707,149       1.20      8.045       359        91.44       648
26                                    1         343,599       0.59      7.350       350        79.45       609
31                                    2         513,673       0.87      8.099       355        80.00       574
33                                    7       2,156,971       3.67      7.517       357        80.37       636
34                                    5       1,537,684       2.62      8.619       358        82.56       606
35                                    1         244,825       0.42      7.750       359        54.54       619
54                                    1         163,942       0.28      6.950       354        55.00       686
----------------------------------------------------------------------------------------------------------------
Total:                              226      58,721,980     100.00      8.170       345        81.99       644
----------------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 14
Maximum: 54
Non-Zero Weighted Average: 22

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      7



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                         % of
                                                       Mortgage
                                                       Pool by
                                         Aggregate    Aggregate   Weighted    Weighted   Weighted
                              Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                                of          Date         Date       Gross    Remaining   Combined    Average
Geographic Distribution of   Mortgage    Principal    Principal   Interest      Term     Original     FICO
   Mortgaged Properties        Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------------

California                      226      58,721,980     100.00      8.170       345        81.99       644
------------------------------------------------------------------------------------------------------------
Total:                          226      58,721,980     100.00      8.170       345        81.99       644
------------------------------------------------------------------------------------------------------------


Number of States/District of Columbia Represented: 1


OCCUPANCY



                                          % of
                                        Mortgage
                                        Pool by
                          Aggregate    Aggregate   Weighted   Weighted    Weighted
               Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                 of         Date          Date       Gross    Remaining   Combined    Average
              Mortgage    Principal    Principal   Interest      Term     Original     FICO
 Occupancy      Loans    Balance ($)    Balance    Rate (%)   (months)       LTV       Score
---------------------------------------------------------------------------------------------

Primary          216      56,112,326      95.56      8.131       344        81.78       642
Investment         8       2,018,326       3.44      9.005       354        85.88       665
Second Home        2         591,328       1.01      9.012       357        88.91       700
---------------------------------------------------------------------------------------------
Total:           226      58,721,980     100.00      8.170       345        81.99       644
---------------------------------------------------------------------------------------------


PROPERTY TYPE



                                                       % of
                                                     Mortgage
                                                     Pool by
                                       Aggregate    Aggregate   Weighted    Weighted   Weighted
                            Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                              of          Date         Date       Gross    Remaining   Combined    Average
                           Mortgage    Principal    Principal   Interest      Term     Original     FICO
      Property Type          Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
----------------------------------------------------------------------------------------------------------

Single Family Residence       191      50,403,737      85.83      8.187       345        81.72       641
Planned Unit Development       14       4,341,245       7.39      8.104       343        85.19       661
Condo                          18       3,477,118       5.92      7.976       339        81.74       665
2-4 Family                      3         499,879       0.85      8.363       327        83.25       636
----------------------------------------------------------------------------------------------------------
Total:                        226      58,721,980     100.00      8.170       345        81.99       644
----------------------------------------------------------------------------------------------------------


LOAN PURPOSE



                                                   % of
                                                 Mortgage
                                                 Pool by
                                   Aggregate    Aggregate   Weighted    Weighted   Weighted
                        Number      Cut-off      Cut-off     Average    Average     Average   Weighted
                          of          Date         Date       Gross    Remaining   Combined    Average
                       Mortgage    Principal    Principal   Interest      Term     Original     FICO
    Loan Purpose         Loans    Balance ($)    Balance    Rate (%)    (months)      LTV       Score
------------------------------------------------------------------------------------------------------

Purchase                  145      31,720,145      54.02      8.338       335        82.94       662
Refinance--Cashout         80      26,541,085      45.20      7.967       356        80.63       623
Refinance--Rate Term        1         460,750       0.78      8.250       355        95.00       622
------------------------------------------------------------------------------------------------------
Total:                    226      58,721,980     100.00      8.170       345        81.99       644
------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      8



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

DOCUMENTATION LEVEL



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted   Weighted    Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
 Documentation Level     Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------

Stated Documentation       135      34,216,307      58.27      8.442       343        83.00       653
Full Documentation          73      19,618,690      33.41      7.770       350        79.65       627
Limited Documentation       18       4,886,983       8.32      7.865       337        84.32       643
-------------------------------------------------------------------------------------------------------
Total:                     226      58,721,980     100.00      8.170       345        81.99       644
-------------------------------------------------------------------------------------------------------


CREDIT SCORE



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted    Weighted   Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
     Credit Score        Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------

500--524                     9       2,506,533       4.27      8.760       357        70.60       514
525--549                     3         717,257       1.22      7.963       355        71.73       537
550--574                     5       1,148,444       1.96      7.720       357        77.49       568
575--599                    17       5,854,351       9.97      8.147       353        81.34       591
600--624                    32       8,569,231      14.59      8.366       346        82.50       616
625--649                    56      13,579,028      23.12      8.071       341        82.86       636
650--674                    48      11,837,040      20.16      8.185       343        83.45       662
675--699                    30       7,423,475      12.64      8.148       341        82.61       685
700--724                    13       4,250,809       7.24      7.817       354        82.27       712
725--749                     6       1,498,989       2.55      8.431       342        82.64       733
750--774                     3         718,723       1.22      8.389       330        83.00       753
775--799                     1          85,839       0.15     10.850       175       100.00       777
800 +                        3         532,261       0.91      7.565       293        86.32       808
-------------------------------------------------------------------------------------------------------
Total:                     226      58,721,980     100.00      8.170       345        81.99       644
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 500
Maximum: 809
Non-Zero Weighted Average: 644

PREPAYMENT PENALTY TERM



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted   Weighted    Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined   Average
 Prepayment Penalty     Mortgage    Principal    Principal   Interest     Term      Original     FICO
       Term              Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------

0                           14       4,240,451       7.22      9.422       350        83.38       677
12                          10       3,556,377       6.06      8.277       352        83.48       653
24                         151      41,011,099      69.84      8.026       347        82.10       642
36                          51       9,914,053      16.88      8.190       330        80.42       632
-------------------------------------------------------------------------------------------------------
Total:                     226      58,721,980     100.00      8.170       345        81.99       644
-------------------------------------------------------------------------------------------------------


Non-Zero Minimum: 12
Maximum: 36
Non-Zero Weighted Average: 25

--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                      9



IXIS 2006-HE3                                                     MORGAN STANLEY
VANDERBILT--RIVERSIDE & SAN BERNARDINO                               226 records
                                                            Balance: $58,721,980
--------------------------------------------------------------------------------

LIEN POSITION



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted   Weighted    Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
    Lien Position        Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------

1st Lien                   170      54,479,330      92.78      7.928       356        80.59       642
2nd Lien                    56       4,242,650       7.22     11.272       196        99.92       665
-------------------------------------------------------------------------------------------------------
Total:                     226      58,721,980     100.00      8.170       345        81.99       644
-------------------------------------------------------------------------------------------------------


INTEREST ONLY TERM



                                                    % of
                                                  Mortgage
                                                  Pool by
                                    Aggregate    Aggregate   Weighted   Weighted    Weighted
                         Number      Cut-off      Cut-off    Average     Average     Average   Weighted
                           of          Date         Date      Gross     Remaining   Combined   Average
                        Mortgage    Principal    Principal   Interest     Term      Original     FICO
  Interest Only Term     Loans     Balance ($)    Balance    Rate (%)   (months)       LTV      Score
-------------------------------------------------------------------------------------------------------

0                          169      39,819,999      67.81      8.374       339        81.91       635
60                          57      18,901,981      32.19      7.738       356        82.17       661
-------------------------------------------------------------------------------------------------------
Total:                     226      58,721,980     100.00      8.170       345        81.99       644
-------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.
--------------------------------------------------------------------------------


15-Aug-06                                                                     10



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
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perform or seek to perform investment banking services for the issuers of the
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is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted. Unless otherwise set forth in this
material, any securities referred to in this material may not have been
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not be offered or sold absent an exemption therefrom. Recipients are required to
comply with any legal or contractual restrictions on their purchase, holding,
sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
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making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
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recipients should determine, in consultation with their own investment, legal,
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as the legal, tax, regulatory and accounting characteristics and consequences,
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making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
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The value of and income from investments may vary because of changes in interest
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conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
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material impact on any projections or estimates. Other events not taken into
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the presentation and/or calculation of any projections or estimates, and Morgan
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--------------------------------------------------------------------------------
(c) 2005 Morgan Stanley
--------------------------------------------------------------------------------

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
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CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
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ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
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MULTIPLE PROPERTY BORROWERS

BORROWER     CURRENT
  NAME       BALANCE     OCCUPANCY   LIEN
--------   -----------   ---------   ----
A          $ 77,309.69   P           1
A          $ 74,609.17   I           1
B          $ 38,231.17   I           1
B          $ 38,231.17   I           1
C          $ 79,800.64   I           1
C          $ 78,202.62   I           1
D          $ 46,621.95   I           1
D          $ 67,857.68   I           1
E          $213,125.65   I           1
E          $314,831.46   I           1
F          $127,938.66   I           1
F          $127,938.66   I           1
F          $159,923.35   I           1



TERM SHEET DISCLAIMER

This material was prepared by sales, trading or other non-research personnel of
one of the following: Morgan Stanley & Co. Incorporated, Morgan Stanley & Co.
International Limited, Morgan Stanley Japan Limited and/or Morgan Stanley Dean
Witter Asia Limited (together with their affiliates, hereinafter "Morgan
Stanley"). This material was not produced by a Morgan Stanley research analyst,
although it may refer to a Morgan Stanley research analyst or research report.
Unless otherwise indicated, these views (if any) are the author's and may differ
from those of the Morgan Stanley fixed income or equity research department or
others in the firm.

This material was prepared by or in conjunction with Morgan Stanley trading
desks that may deal as principal in or own or act as market maker or liquidity
provider for the securities/instruments (or related derivatives) mentioned
herein. The trading desk may have accumulated a position in the subject
securities/instruments based on the information contained herein. Trading desk
materials are not independent of the proprietary interests of Morgan Stanley,
which may conflict with your interests. Morgan Stanley may also perform or seek
to perform investment banking services for the issuers of the securities and
instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to by of any offer to buy or sell any security or instrument in any jurisdiction
where the offer, solicitation or sale is not permitted. Unless otherwise set
forth in this material, the securities referred to in this material may not have
been registered under the U.S. Securities Act of 1933, as amended, and, if not,
may not be offered or sold absent an exemption therefrom. Recipients are
required to comply with any legal or contractual restrictions on their purchase,
holding, sale, exercise of rights or performance of obligations under any
securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
distribution to market professionals and institutional investor clients only.
Other recipients should seek independent financial advice prior to making any
investment decision based on this material. This material does not provide
individually tailored investment advice or offer tax, regulatory, accounting or
legal advice. Prior to entering into any proposed transaction, recipients should
determine, in consultation with their own investment, legal, tax, regulatory and
accounting advisors, the economic risks and merits, as well as the legal, tax,
regulatory and accounting characteristics and consequences, of the transaction.
You should consider this material as only a single factor in making an
investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
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treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
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In the UK, this communication is directed in the UK to those persons who are
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service marks contained herein are the property of their respective owners.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

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*    OLTV SHOULD INCLUDE FIRST MORTGAGE BALANCE ON THE PROPERTY AT THE TIME OF
     ORIGINATION

*    COLTV SHOULD INCLUDE FIRST MORTGAGE BALANCE AND ANY ADDITIONAL MORTGAGES ON
     THE PROPERTY (WHETHER IN THIS COLLATERAL POOL OR NOT) AT THE TIME OF
     ORIGINATION

*    FRONT END DTI SHOULD INCLUDE ONLY FIRST MORTGAGE EXPENSES (P AND I,
     PROPERTY TAXES AND INSURANCE)

*    BACK END DTI SHOULD INCLUDE ALL MORTGAGE EXPENSES AND ALL OTHER DEBT

*    EACH LINE ITEM'S "DEAL PERCENTAGE" SHOULD REFLECT ITS RESPECTIVE RELATIVE
     PERCENTAGE OF THE DEAL.

*    CELLS CORRESPONDING TO, FOR INSTANCE, THE IO ROW AND THE IO COLUMN, SHOULD
     EQUAL 100%, NOT ITS RESPECTIVE RELATIVE PERCENTAGE OF THE DEAL.

*    FOR EXAMPLE THE PURCHASE ROW AND OWNER OCCUPIED COLUMN INTERSECTION SHOULD
     EQUAL THE PERCENTAGE OF PURCHASE LOANS THAT ARE OWNER OCCUPIED.



Deal                                            Loan                    Deal                                  Front    Back
Name            Loan Characteristics           Number     Balance    Percentage   WAC  WALA FICO  OLTV COLTV End DTI End DTI
---- ----------------------------------------- ------ -------------- ---------- ------ ---- ---- ----- ----- ------- -------

                    Aggregated                  4,207    834,934,301   100.00    8.458   3   626 77.35 87.42  34.60   42.79
                    Rate 9.5-10                   471  76,554,416.61     9.17    9.771   3   580 79.23 83.65  32.95   42.89
                 RATE 10.001-10.5                 178  23,779,928.59     2.85   10.296   3   580 77.51 85.45  33.38   42.96
                  RATE 10.501-11                  203  22,321,439.78     2.67   10.779   3   596 69.28 87.32  31.51   41.51
                 RATE 11.001-11.5                  91   9,173,712.03     1.10   11.262   4   606 47.79 86.61  34.92   41.94
              RATE greater than 11.5              277  18,847,589.45     2.26   12.156   4   624 30.64 96.05  36.30   43.86
                    LB <=50,000                   248   9,283,423.98     1.11   11.173   4   634 33.03 94.07  29.37   40.37
                  LB 50,001-100K                  779  59,415,786.74     7.12    9.631   3   615 65.19 87.63  30.22   40.03
                    LB 100-200K                 1,544 227,666,338.69    27.27    8.712   3   611 75.76 84.62  32.61   41.94
                    LB 200-300k                   866 211,499,684.51    25.33    8.275   3   622 79.25 86.60  35.52   43.44
                   LB 300K-400K                   404 139,336,159.89    16.69    8.143   3   636 79.92 88.26  36.02   43.71
                   LB 400K-500k                   219  98,185,275.90    11.76    8.045   3   640 80.96 91.87  37.38   43.91
                    LB 500-600k                    89  48,760,140.16     5.84    8.053   3   645 81.49 90.48  37.12   43.16
                    LB 600-700k                    34  21,963,801.28     2.63    8.136   3   653 81.37 88.54  35.84   42.48
                    LB 700-800k                    19  14,142,152.37     1.69    8.468   4   653 82.74 90.34  34.99   42.90
                    LB 800-900k                     2   1,704,621.74     0.20    8.431   3   646 84.37 84.37   9.80   37.07
                    LB 900-1MM                      3   2,976,915.90     0.36    7.537   3   653 78.54 78.54  28.64   42.20
                     LB > 1MM
                      FICO NA
                     FICO <500                     13   1,982,483.00     0.24    9.838   3   500 69.30 72.18  35.85   43.10
                   FICO 501-525                   283  46,812,637.21     5.61    9.520   3   513 71.83 72.15  36.11   42.49
                   FICO 526-550                   307  53,224,357.81     6.37    9.286   3   538 73.50 74.08  35.34   41.95
                   FICO 551-575                   350  63,624,535.15     7.62    8.907   3   563 77.39 78.21  35.60   42.39
                   FICO 576-600                   475  87,827,158.56    10.52    8.655   3   589 79.39 83.01  35.58   42.59
                   FICO 601-625                   732 149,278,722.76    17.88    8.350   3   613 78.67 88.66  34.35   42.56
                   FICO 626-650                   813 158,857,154.36    19.03    8.327   3   637 77.24 90.76  33.77   43.12
                   FICO 651-700                   873 191,344,866.17    22.92    8.110   3   671 77.42 93.08  34.12   43.23
                       >700                       361  81,982,386.14     9.82    7.986   3   735 78.68 95.11  34.57   42.72
                      LTV 80                    1,535 359,477,637.55    43.05    8.083   3   646 80.00 95.44  35.15   43.37
                     LTV 80-85                    437  87,800,198.45    10.52    8.668   3   606 84.51 85.32  34.13   42.14
                   LTV 85.01-90                   449  98,133,687.14    11.75    8.684   3   627 89.43 90.05  33.30   43.00
                   LTV 90.01-95                   194  39,254,352.82     4.70    8.969   3   643 93.36 94.78  30.36   42.79
                   LTV 95.01-100                  508  38,338,430.39     4.59   10.898   4   652 41.27 99.87  35.46   43.50
                     LTV >100
                     2nd Home                      53     12,666,712     1.52    8.902   3   652 81.84 90.21  13.48   43.72
                  Invest Property                 294     49,653,254     5.95    9.026   3   652 81.84 82.28  19.35   39.87
                     2nd lien                     460     29,173,789     3.49   11.483   4   657 20.01 99.52  36.26   43.71
               Simultaneous Seconds             1,321    314,904,178    37.72    7.996   3   658 80.13 99.45  35.47   43.83
                    Stated Doc                  2,137    456,501,438    54.68    8.630   3   641 76.47 88.68  35.30   43.49
                      No Doc
                      Limited                     173     35,981,758     4.31    8.300   4   619 77.57 89.68  30.28   39.66
                     Purchase                   1,871    357,138,841    42.77    8.464   3   656 77.11 97.07  34.45   43.36
                     Cash Out                   2,110    437,916,030    52.45    8.465   3   603 77.26 79.91  34.88   42.40
                  Refi-Rate Term                  226     39,879,430     4.78    8.331   3   614 80.53 83.39  32.86   41.84
                    2-4 Family                    300     78,056,397     9.35    8.502   3   645 75.46 85.03  35.36   42.95
                       Condo                      270     52,023,168     6.23    8.519   3   641 77.52 90.31  32.72   42.52
                       Fixed                      982    110,194,672    13.20    9.118   3   631 61.64 84.42  33.88   41.85
                        Arm                     3,225    724,739,629    86.80    8.358   3   625 79.74 87.88  34.71   42.93
                  Back DTI 45-50                1,392    295,759,293    35.42    8.489   3   629 77.93 89.73  38.15   47.69
                  Back DTI 50-55                  368     74,787,971     8.96    8.473   3   609 77.40 85.12  42.28   52.26
                   Back DTI > 55                   26      7,028,257     0.84    8.008   3   625 77.50 88.88  47.32   57.78
                        IO                        531    162,508,006    19.46    7.762   3   659 80.60 93.24  35.83   43.27
                       Cali                       915    271,051,190    32.46    8.166   4   641 75.72 89.50  36.64   43.43
                      N Cali                      276     81,660,268     9.78    8.138   3   641 76.22 90.08  36.27   43.39
                      S Cali                      639    189,390,922    22.68    8.178   4   641 75.51 89.25  36.81   43.45
                        NY                        139     41,732,227     5.00    8.075   3   650 76.09 84.02  36.35   42.92
                        FL                        666    119,157,019    14.27    8.545   3   622 76.41 85.79  34.21   42.90
                      Georgia                      92     13,333,788     1.60    8.939   3   614 82.06 90.97  31.39   40.62
                       Ohio                        50      4,958,808     0.59    9.482   3   596 83.94 90.18  28.72   41.65
                     Maryland                     115     25,717,947     3.08    8.335   3   613 76.93 83.24  35.04   41.93
                    40 yr Loans                 1,070    273,546,325    32.76    8.245   3   625 80.02 88.13  35.90   43.45
            Purchase Loans w/Simul 2nds         1,101    260,438,527    31.19    8.016   3   661 80.20 99.71  35.74   43.91
      Stated Doc Purchase Loans w/Simul 2nds      687    175,298,931    21.00    8.138   3   673 80.10 99.67  36.73   44.36
          IO Purchase Loans w/Simul 2nds          298     88,050,118    10.55    7.776   4   671 79.91 99.72  36.02   44.22
     Stated Doc IO Purchase Loans w/Simul 2nds    179     54,534,045     6.53    8.018   3   681 79.89 99.70  36.90   44.47
                   FICO Std Dev                 59.49
                    LTV Std Dev                 12.46


Deal                                            Loan   Full  Primary Single          Simultaneous         Init  Subs  Life
Name            Loan Characteristics           Number   Doc   Owner  Family Purchase     2nds       IO    Cap   Cap   Cap
---- ----------------------------------------- ------ ------ ------- ------ -------- ------------ ------ ----- ----- -----

                    Aggregated                  4,207  41.02   92.54  78.06   42.77      37.72     19.46 2.501 1.347 6.713
                    Rate 9.5-10                   471  39.29   85.69  78.63   26.92      11.97      4.67 2.496 1.342 6.721
                 RATE 10.001-10.5                 178  38.73   80.48  82.66   38.14       8.64      2.61 2.524 1.336 6.688
                  RATE 10.501-11                  203  38.74   87.49  81.57   50.24       7.55      0.46 2.511 1.323 6.690
                 RATE 11.001-11.5                  91  39.14   95.55  69.50   53.57       5.34        -- 2.374 1.349 6.702
              RATE greater than 11.5              277  19.02   95.34  77.22   80.39       0.93        -- 2.759 1.155 6.576
                    LB <=50,000                   248  37.18   92.24  85.25   74.94       1.05        -- 2.704 1.214 6.832
                  LB 50,001-100K                  779  51.88   88.40  85.40   48.91      21.25      1.60 2.566 1.384 6.834
                    LB 100-200K                 1,544  51.76   91.56  82.27   37.78      31.71      8.46 2.517 1.372 6.758
                    LB 200-300k                   866  42.02   93.91  79.67   39.92      37.42     20.39 2.538 1.355 6.725
                   LB 300K-400K                   404  30.11   92.51  79.15   44.18      42.73     26.57 2.479 1.345 6.749
                   LB 400K-500k                   219  29.59   95.31  74.42   50.50      55.08     33.10 2.533 1.322 6.623
                    LB 500-600k                    89  32.53   96.48  67.81   45.79      46.97     35.39 2.363 1.308 6.649
                    LB 600-700k                    34  32.80   90.92  55.68   52.80      38.26     40.83 2.494 1.230 6.573
                    LB 700-800k                    19  26.23   78.72  47.25   26.64      42.01     11.00 2.129 1.373 6.428
                    LB 800-900k                     2 100.00   50.16     --   49.84         --     50.16 2.000 1.249 5.997
                    LB 900-1MM                      3  66.41  100.00  66.79   33.21         --     33.59 2.332 1.166 6.664
                     LB > 1MM
                      FICO NA
                     FICO <500                     13  84.89  100.00 100.00    3.61         --        -- 2.710 1.407 6.691
                   FICO 501-525                   283  67.61   97.93  81.70    6.16       2.25      0.46 2.336 1.365 6.744
                   FICO 526-550                   307  52.16   98.35  81.83    9.49       4.01        -- 2.524 1.345 6.688
                   FICO 551-575                   350  56.66   96.86  87.35   12.10       5.23      1.04 2.555 1.342 6.692
                   FICO 576-600                   475  54.62   93.72  84.18   23.47      15.38      5.52 2.581 1.326 6.678
                   FICO 601-625                   732  50.32   94.13  81.62   39.77      37.68     24.19 2.453 1.332 6.693
                   FICO 626-650                   813  33.89   91.09  74.45   52.70      46.50     22.05 2.518 1.349 6.702
                   FICO 651-700                   873  25.51   89.88  73.57   59.23      58.46     31.21 2.535 1.358 6.733
                       >700                       361  23.88   86.97  70.26   78.55      64.54     31.64 2.420 1.363 6.779
                      LTV 80                    1,535  33.59   96.07  75.44   68.69      78.66     28.17 2.481 1.368 6.784
                     LTV 80-85                    437  47.64   87.74  83.43   14.43       5.79     14.31 2.366 1.340 6.653
                   LTV 85.01-90                   449  46.88   85.72  78.24   26.82       6.01     17.99 2.617 1.293 6.612
                   LTV 90.01-95                   194  59.42   76.58  82.54   39.42       2.56     15.66 2.516 1.277 6.681
                   LTV 95.01-100                  508  35.71   99.13  81.30   77.80         --      0.86 2.913 1.297 6.820
                     LTV >100
                     2nd Home                      53  34.62      --  58.11   69.54      40.73     14.23 2.199 1.347 6.745
                  Invest Property                 294  35.11      --  59.85   43.32       3.95      3.59 2.423 1.315 6.590
                     2nd lien                     460  22.77   99.38  77.58   87.82         --        --    --    --    --
               Simultaneous Seconds             1,321  31.07   97.74  75.57   82.70     100.00     33.32 2.527 1.379 6.820
                    Stated Doc                  2,137     --   92.03  76.42   51.23      44.47     20.31 2.531 1.360 6.734
                      No Doc
                      Limited                     173     --   88.61  77.77   46.02      39.12     25.71 2.622 1.343 6.851
                     Purchase                   1,871  29.88   91.51  73.16  100.00      72.92     26.62 2.517 1.360 6.796
                     Cash Out                   2,110  48.31   93.28  81.94      --      11.29     14.25 2.478 1.336 6.647
                  Refi-Rate Term                  226  60.70   93.51  79.42      --      12.63     12.58 2.616 1.343 6.652
                    2-4 Family                    300  31.73   79.65     --   46.77      35.13     16.92 2.410 1.329 6.577
                       Condo                      270  38.86   88.06     --   64.02      48.51     26.09 2.390 1.345 6.729
                       Fixed                      982  50.05   94.66  80.97   32.33       9.62      4.37    --    --    --
                        Arm                     3,225  39.64   92.21  77.62   44.36      41.99     21.76 2.501 1.347 6.713
                  Back DTI 45-50                1,392  36.31   93.55  79.51   46.10      43.94     21.14 2.592 1.353 6.704
                  Back DTI 50-55                  368  60.99   89.87  78.71   36.63      31.15     12.53 2.548 1.364 6.635
                   Back DTI > 55                   26  63.33   92.97  66.36   43.69      43.36      9.11 2.449 1.265 6.604
                        IO                        531  37.24   97.79  75.87   58.50      64.56    100.00 2.547 1.341 6.737
                       Cali                       915  30.43   93.29  79.64   52.76      47.41     32.79  2.52  1.32  6.65
                      N Cali                      276  20.06   93.69  90.83   57.47      52.71     33.47  2.59  1.40  6.81
                      S Cali                      639  34.90   93.12  74.81   50.73      45.12     32.49  2.49  1.29  6.58
                        NY                        139  33.61   95.45  53.39   46.87      38.19     17.12  2.07  1.27  6.50
                        FL                        666  37.77   89.69  74.06   47.15      32.69     16.12  2.70  1.35  6.79
                      Georgia                      92  60.86   90.80  86.24   39.24      41.37     16.79  2.42  1.39  6.87
                       Ohio                        50  69.66   84.75  89.71   31.47      30.25      9.90  2.32  1.32  6.74
                     Maryland                     115  62.66   95.99  84.06   18.94      26.54     26.95  2.60  1.36  6.55
                    40 yr Loans                 1,070  39.62   94.42  77.31   41.00      41.51        --  2.38  1.38  6.74
            Purchase Loans w/Simul 2nds         1,101  28.24   97.50  74.36  100.00     100.00     33.81  2.52  1.38  6.82
      Stated Doc Purchase Loans w/Simul 2nds      687     --   97.51  74.49  100.00     100.00     31.11  2.55  1.40  6.83
          IO Purchase Loans w/Simul 2nds          298  31.02   98.56  73.02  100.00     100.00    100.00  2.55  1.36  6.80
     Stated Doc IO Purchase Loans w/Simul 2nds    179     --   98.70  75.57  100.00     100.00    100.00  2.65  1.39  6.81
                   FICO Std Dev
                    LTV Std Dev




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about the depositor, issuing trust and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the depositor or any underwriter or any dealer participating in
the offering will arrange to send you the prospectus if you request it by
calling toll-free 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of this
e-mail or at the bottom of the e-mail communication to which this material may
have been attached are not applicable to these materials and should be
disregarded. Such legends, disclaimers or other notices have been automatically
generated as a result of these materials having been sent via Bloomberg or
another email system.



MORGAN STANLEY
IXIS 2006-HE3 TERMSHEET
SIMULTANEOUS SECONDS
1,321 RECORDS
BALANCE: 314,904,178

TABLE OF CONTENTS

1. Credit Score
2. Documentation Level
3. Product Type

1. CREDIT SCORE



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
CREDIT SCORE                                            LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------                                          --------  -----------  ---------  --------  ---------  --------  --------

500 - 524                                                   10      934,676       0.30    10.533        357     93.76       512
525 - 549                                                   18    2,112,298       0.67     9.686        357     98.42       537
550 - 574                                                   29    3,346,879       1.06     9.584        357     95.03       562
575 - 599                                                   66   11,150,010       3.54     8.393        357     99.70       589
600 - 624                                                  248   56,082,257      17.81     8.041        357     99.64       614
625 - 649                                                  324   74,536,069      23.67     8.050        357     99.71       636
650 - 674                                                  267   69,017,564      21.92     7.953        357     99.27       661
675 - 699                                                  155   42,139,436      13.38     7.845        356     99.43       685
700 - 724                                                   97   25,672,444       8.15     7.777        357     99.54       711
725 - 749                                                   55   14,209,930       4.51     7.806        357     99.37       735
750 - 774                                                   34    9,664,048       3.07     7.798        357     99.54       760
775 - 799                                                   16    5,414,619       1.72     7.588        357     99.57       782
800 +                                                        2      623,948       0.20     7.135        353    100.00       806
                                                         -----  -----------     ------     -----        ---    ------       ---
TOTAL:                                                   1,321  314,904,178     100.00     7.996        357     99.45       658
                                                         =====  ===========     ======     =====        ===    ======       ===


Non-Zero Minimum: 502
Maximum: 809
Non-Zero Weighted Average: 658

2. DOCUMENTATION LEVEL



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
DOCUMENTATION LEVEL                                     LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
-------------------                                   --------  -----------  ---------  --------  ---------  --------  --------

Stated Documentation                                       787  202,998,618      64.46     8.148        357     99.35       671
Full Documentation                                         487   97,827,729      31.07     7.731        357     99.61       634
Limited Documentation                                       47   14,077,831       4.47     7.634        356     99.79       637
                                                         -----  -----------     ------     -----        ---     -----       ---
TOTAL:                                                   1,321  314,904,178     100.00     7.996        357     99.45       658
                                                         =====  ===========     ======     =====        ===     =====       ===


3. PRODUCT TYPE



                                                                                % OF
                                                                              MORTGAGE
                                                                              POOL BY
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED  WEIGHTED
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE    AVERAGE  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  COMBINED   AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM    ORIGINAL    FICO
PRODUCT TYPE                                            LOANS   BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV      SCORE
------------                                          --------  -----------  ---------  --------  ---------  --------  --------

Fixed - 15 Year                                              1       99,889       0.03     7.600        177    100.00       692
Fixed - 20 Year                                              1       64,343       0.02     7.390        237     89.78       661
Fixed - 30 Year                                             40    5,526,545       1.75     8.224        357     96.76       636
Balloon - 30/40                                             12    3,383,348       1.07     8.200        357     99.04       651
ARM - 2 Year/6 Month Balloon 30/40                         339   94,312,708      29.95     7.919        357     99.71       660
ARM - 2 Year/6 Month Balloon 30/50                           1      203,935       0.06     8.450        357    100.00       625
ARM - 3 Year/6 Month Balloon 30/40                          69   15,725,710       4.99     8.092        357     99.39       655
ARM - 2 Year/6 Month                                       384   71,468,096      22.70     8.227        357     99.40       649
ARM - 3 Year/6 Month                                       120   18,540,490       5.89     8.670        357     99.16       636
ARM - 5 Year/6 Month                                         2      529,701       0.17     8.402        356     86.28       587
Dual Amort - 10/40 - 2 Year/6 Month                          1      135,481       0.04     6.700        351    100.00       657
Interest Only ARM - 2 Year/6 Month - 24 mo. IO term          1      210,400       0.07     8.250        358    100.00       628
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term          2      444,000       0.14     7.937        358    100.00       638
Interest Only Fixed - 30 Year - 60 mo. IO term               5    1,527,800       0.49     8.103        357     94.90       663
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term        289   89,020,300      28.27     7.744        356     99.61       667
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term         51   13,252,746       4.21     7.770        357     99.66       681
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term          1      180,000       0.06     7.500        357    100.00       700
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term         1      186,686       0.06     8.000        358     95.00       641
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term         1       92,000       0.03     7.250        359    100.00       652
                                                         -----  -----------     ------     -----        ---    ------       ---
TOTAL:                                                   1,321  314,904,178     100.00     7.996        357     99.45       658
                                                         =====  ===========     ======     =====        ===    ======       ===




This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.

TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



       CUSIP OR ISIN                        --
          BBERG ID                          --
         DEAL NAME               IXIS 2006-HE3
        ISSUER NAME             Morgan Stanley
        PARENT NAME                         --
           SECTOR                           --
        SETTLE DATE                         --
        COUPON TYPE                         --
        TRANCHE SIZE                        --
     COLLATERAL BALANCE         834,934,301.16
    ORIGINAL # OF LOANS                  4,207
     AVG. LOAN BALANCE              198,463.11
        INITIAL WAC                      8.458
        INITIAL WAM                        354
          REM. WAM                         351
       WAL (CALL/MTY)                       --
     WINDOW (CALL/MTY)                      --
   PUBLIC RATINGS MOODY'S                   --
     PUBLIC RATINGS S&P                     --
    PUBLIC RATINGS FITCH                    --
  DERIVED RATINGS MOODY'S                   --
    DERIVED RATINGS S&P
   DERIVED RATINGS FITCH
       PRICING SPEED
          WA FICO                          626
           < 500                         0.00%
           < 550                        12.02%
            <575                        19.53%
           < 600                        29.71%
           > 650                        32.74%
           > 700                         9.82%
           WA DTI                        42.79
           > 40%                        73.09%
           > 45%                        45.22%
          WA CLTV                        80.13
           WA LTV                        77.35
            > 80                        31.56%
            > 90                         9.29%
            % IO                        19.46%
          IO FICO                          659
     IO WITH FICO <575                   0.06%
          IO TERM                           60
         IO TERM %                          --
           IO LTV                        80.60
       % 15 YR FIXED                     0.23%
        %30 YR FIXED                     8.01%
         % BALLOONS                     35.54%
           40 YR                         0.00%
        2/28 HYBRIDS                    68.72%
        3/27 HYBRIDS                    17.44%
        5/25 HYBRIDS                     0.47%
      <= 1/29 HYBRIDS                    0.07%
         % 2ND LIEN                      3.49%
       % SILENT 2NDS                    34.70%
           NEGAM?                        0.00%
            1.1                             --
            1.25                            --
         MI COMPANY                         --
       MI COVERAGE %                     0.00%
       SINGLE FAMILY                    78.06%
         2-4 FAMILY                      9.35%
           CONDO                         6.23%
           CO-OP                         0.00%
            PUD                          6.36%
             MH                          0.00%
           OWNER                        92.54%
        SECOND HOME                      1.52%
          INVESTOR                       5.95%
            REFI                         4.78%
          CASH OUT                      52.45%
          PURCHASE                      42.77%
          FULL DOC                      41.02%
        REDUCED DOC                     58.98%
           NO DOC                        0.00%
          STATE 1                           CA
         % STATE 1                      32.46%
          STATE 2                           FL
         % STATE 2                      14.27%
          STATE 3                           IL
         % STATE 3                       6.86%
           SUB %                            --
        INITIAL OC %                        --
TARGET OC % BEFORE STEPDOWN                 --
 TARGET OC % AFTER STEPDOWN                 --
         OTHER CE%                          --
         TOTAL CE %                         --
  INITIAL EXCESS INTEREST                   --
        ORIGNATORS 1                 First NLC
       % ORIGNATORS 1                   39.01%
        ORIGNATORS 2               New Century
       % ORIGNATORS 2                   16.42%
        ORIGNATORS 3                Accredited
       % ORIGNATORS 3                   12.16%
       ISSUER CONTACT                       --
       ISSUER NUMBER                        --
        SERVICERS 1                      Saxon
       % SERVICERS 1                    94.04%
        SERVICERS 2           Master Financial
       % SERVICERS 2                     5.96%
      MASTER SERVICER                       --
          TRUSTEE                           --
    CREDIT RISK MANAGER                     --
        UNDERWRITER                         --
        DERIVATIVES                         --
      CREDIT COMMENTS                       --
       DEAL ACCEPTED?
        INTEX STRESS                        --
         TERM SHEET                         --
        HARD PROSSUP                        --
       ELECT. PROSSUP                       --

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                   ALL RECORDS
                                  4,207 RECORDS
                              BALANCE: 834,934,301

TABLE OF CONTENTS

     1. Credit Score

1. CREDIT SCORE



                                              % OF
                                            MORTGAGE
                                            POOL BY
                             AGGREGATE     AGGREGATE       AVG.      WEIGHTED   WEIGHTED
                NUMBER        CUT-OFF       CUT-OFF      CUT-OFF      AVERAGE    AVERAGE   WEIGHTED
                  OF           DATE           DATE         DATE        GROSS    COMBINED    AVERAGE     % OF         % OF
               MORTGAGE      PRINCIPAL     PRINCIPAL    PRINCIPAL    INTEREST   ORIGINAL     FICO      SILENT        FULL
CREDIT SCORE     LOANS      BALANCE ($)     BALANCE    BALANCE ($)   RATE (%)      LTV       SCORE    SECONDS   DOCUMENTATION
------------   --------   --------------   ---------   -----------   --------   --------   --------   -------   -------------

500 - 524           279    46,441,482.87        5.56    166,456.93      9.545      71.85        512      2.01           68.27
525 - 549           314    53,891,969.19        6.45    171,630.48      9.290      73.26        537      3.92           52.78
550 - 574           349    62,693,438.49        7.51    179,637.36      8.943      77.64        562      5.34           56.36
575 - 599           457    85,015,577.28       10.18    186,029.71      8.664      80.25        588     12.24           54.48
600 - 624           736   149,312,831.30       17.88    202,870.69      8.344      81.30        613     35.29           51.18
625 - 649           818   160,006,051.51       19.16    195,606.42      8.336      81.71        636     41.84           34.36
650 - 674           549   117,558,717.97       14.08    214,132.46      8.166      81.69        661     53.24           25.35
675 - 699           336    75,361,493.27        9.03    224,290.16      8.038      81.41        686     52.49           26.16
700 - 724           169    38,491,750.68        4.61    227,761.84      7.991      82.65        710     63.15           25.35
725 - 749           106    22,546,021.41        2.70    212,698.32      8.079      83.03        735     57.98           24.41
750 - 774            60    14,673,823.77        1.76    244,563.73      7.960      81.70        760     60.16           14.48
775 - 799            28     7,965,283.59        0.95    284,474.41      7.705      80.53        783     61.45           28.21
800 +                 6       975,859.83        0.12    162,643.31      7.833      86.00        807      0.00           12.17
                  -----   --------------      ------    ----------      -----      -----        ---     -----           -----
TOTAL:            4,207   834,934,301.16      100.00    198,463.11      8.458      80.13        626     34.70           41.02
                  =====   ==============      ======    ==========      =====      =====        ===     =====           =====


Non-Zero Minimum: 500
Maximum: 814
Non-Zero Weighted Average: 626

This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



                                 MORGAN STANLEY
                             IXIS 2006-HE3 TERMSHEET
                                   ALL RECORDS
                                  4,207 RECORDS
                              BALANCE: 834,934,301

TABLE OF CONTENTS

1. Total

1. TOTAL



                                                                      % OF
                                                                    MORTGAGE
                                                                    POOL BY
                                                    AGGREGATE      AGGREGATE   WEIGHTED                            WEIGHTED
                                       NUMBER        CUT-OFF        CUT-OFF    AVERAGE    WEIGHTED     AVERAGE      AVERAGE
                                         OF            DATE           DATE      GROSS      AVERAGE    PRINCIPAL    COMBINED
                                      MORTGAGE      PRINCIPAL      PRINCIPAL   INTEREST     FICO       BALANCE     ORIGINAL
TOTAL                                   LOANS      BALANCE ($)      BALANCE    RATE (%)     SCORE    OUTSTANDING      LTV
-----                                 --------   ---------------   ---------   --------   --------   -----------   --------

1st Lien, Loud Second in Deal              104   $ 25,196,978.14        3.02      7.821        663   $242,278.64      80.09
1st Lien, Silent Second not in Deal      1,217   $289,707,200.16       34.70      8.011        658   $238,050.29      80.13
1st Lien, Standalone                     2,426   $490,856,333.93       58.79      8.575        604   $202,331.55      78.98
2nd Lien, Loud First in Deal               104   $  6,240,161.50        0.75     11.537        662   $ 60,001.55      99.93
2nd Lien, Standalone                       356   $ 22,933,627.43        2.75     11.469        656   $ 64,420.30      99.40
                                         -----   ---------------      ------      -----        ---   -----------      -----
TOTAL:                                   4,207   $834,934,301.16      100.00      8.458        626   $198,463.11      80.13
                                         =====   ===============      ======      =====        ===   ===========      =====


                                       WEIGHTED
                                        AVERAGE
                                       COMBINED      PERCENT
                                       ORIGINAL      FULL OR
                                        SILENT     ALTERNATIVE   PERCENT
TOTAL                                 SECOND LTV       DOC          IO
-----                                 ----------   -----------   -------
1st Lien, Loud Second in Deal              80.09         19.87     36.78
1st Lien, Silent Second not in Deal        99.41         32.04     33.01
1st Lien, Standalone                       78.98         48.48     11.73
2nd Lien, Loud First in Deal               99.93         19.29      0.00
2nd Lien, Standalone                       99.40         23.71      0.00
                                           -----         -----     -----
TOTAL:                                     86.82         41.02     19.46
                                           =====         =====     =====

This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.





% of collateral with silent seconds:   34.70
CLTV of loans with silent seconds:     80.13




                % of Total      Avg                                                 % 2nd             %
TYPE            Collateral   Loan Size    WAC   FICO   LTV    CLTV   DTI    % IO    Lien    % ARM  Full Doc  % N/O/O  % MI
----            ----------  ----------  ------  ----  -----  -----  -----  ------  ------  ------  --------  -------  ----

IO                 19.46    306,041.44   7.762   659  80.60  80.60  43.27  100.00    0.00   97.04    37.24      2.21  0.00
Amortizers         45.00    166,682.66   8.722   611  77.62  78.79  42.02    0.00    1.46   82.24    44.72     11.54  0.00
   ARMs            37.00    180,889.94   8.734   609  78.95  78.95  42.27    0.00    0.00  100.00    42.11     12.32  0.00
   Fixed            7.99    122,239.37   8.667   621  71.46  78.06  40.88    0.00    8.24    0.00    56.81      7.91  0.00
Balloons           35.54    208,666.37   8.506   627  75.24  81.57  43.48    0.00    7.98   86.98    38.39      5.19  0.00
2nd Lien            3.49     63,421.28  11.483   657  20.01  99.52  43.71    0.00  100.00    0.00    22.77      0.62  0.00
N/O/O               7.46    179,596.44   9.001   652  81.84  82.07  40.65    5.75    0.29   90.56    35.01    100.00  0.00
2-4 Family          9.35    260,187.99   8.502   645  75.46  78.31  42.95   16.92    3.57   84.29    31.73     20.35  0.00
MH
All Collateral    100.00    198,463.11   8.458   626  77.35  80.13  42.79   19.46    3.49   86.80    41.02      7.46  0.00


Notes:

N/O/O is all 2nd Home and Investment Properties

Balloons includes 40-year amortizers with 30-year final

MI is lender-paid mortgage insurance

CLTV only for loans in pool



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
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This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
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Recipients are required to comply with any legal or contractual restrictions on
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The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
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clients. Other recipients should seek independent investment advice prior to
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accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
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your account representative.

The value of and income from investments may vary because of changes in interest
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securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
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Certain assumptions may have been made for modeling purposes only to simplify
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In the UK, this communication is directed in the UK to those persons who are
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sophisticated institutional investors as defined under the Foreign Broker Dealer
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This material may not be sold or redistributed without the prior written consent
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IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
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classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
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another email system.





                                   CLTV   CLTV             %             %      %
                   % OF   AVERAGE  ABOVE  ABOVE  % FULL  OWNER   AVE   BELOW  ABOVE         AVE   DTI >
                   POOL     LTV     80%    90%     DOC    OCC    WAC    100K   500K  % IO   DTI    45%
                  -----   -------  -----  -----  ------  -----  -----  -----  -----  ----  -----  -----

A FICO below 600  29.71%   76.50   30.16   3.82   57.17  96.36  9.036   9.50   5.30  1.84  42.39  44.15
  FICO below 580  21.11%   74.85   25.39   1.83   57.88  97.56  9.197   9.70   4.67  0.67  42.31  43.20
  FICO below 560  14.86%   73.61   21.13   0.93   60.47  97.88  9.339   9.97   3.71  0.38  42.29  43.34




                                   FICO  FICO                                                       DTI              CLTV
                                   LESS  LESS            %              %      %                  GREATER   CLTV   GREATER
                  % OF   AVERAGE   THAN  THAN  % FULL  OWNER    AVE   BELOW  ABOVE          AVE     THAN   ABOVE    THAN
                  POOL     LTV     600    575    DOC    OCC     WAC    100K   500K   % IO   DTI     45%     80%     90%
                 -----   -------  -----  ----  ------  -----  ------  -----  -----  -----  -----  -------  ------  -------

B LTV above 85%  21.05%    92.94  20.82  7.45   47.24  86.61   9.231  17.83  11.94  13.73  43.06    48.46  100.00    44.16
  LTV above 90%   9.29%    97.23  12.23  3.16   47.70  87.72   9.923  31.52   4.75   8.35  43.14    49.98  100.00   100.00
  LTV above 95%   4.59%    99.87  10.13  1.53   35.71  99.13  10.898  56.76   3.14   0.86  43.50    48.64  100.00   100.00




                                   FICO   FICO                                                       DTI            CLTV
                                   LESS   LESS            %             %      %                  GREATER   CLTV  GREATER
                  % OF   AVERAGE   THAN   THAN  % FULL  OWNER   AVE   BELOW  ABOVE          AVE     THAN   ABOVE    THAN
                  POOL     LTV     600     575    DOC    OCC    WAC    100K   500K   % IO   DTI     45%     80%     90%
                 -----   -------  -----  -----  ------  -----  -----  -----  -----  -----  -----  -------  -----  -------

C DTI > 40%      73.09%    80.60  28.45  18.39   37.81  93.75  8.457   6.65  10.80  20.22  46.50    61.87  31.27     9.79
  DTI > 45%      45.22%    80.85  29.01  18.62   41.70  92.81  8.477   6.76  10.18  19.21  48.79   100.00  31.74    10.27
  DTI > 50%       9.80%    79.48  38.25  26.94   61.19  90.14  8.433   6.50   9.46  12.23  52.73   100.00  30.80     8.47


Average DTI   42.79



                                      FICO   FICO                                                         DTI            CLTV
                                      LESS   LESS            %              %      %                   GREATER   CLTV  GREATER
                     % OF   AVERAGE   THAN   THAN  % FULL  OWNER   AVE    BELOW  ABOVE           AVE     THAN   ABOVE    THAN
                     POOL     LTV     600     575    DOC    OCC    WAC    100K    500K   % IO    DTI     45%     80%     90%
                    -----   -------  -----  -----  ------  -----  -----  ------  -----  ------  -----  -------  -----  -------

D Non Owner Occ      7.46%   82.07   14.49   6.17   35.01   0.00  9.001   12.22  12.15    5.75  40.65   43.54   55.04    15.29
  Stated Docs       54.68%   80.07   21.02  13.24    0.00  92.03  8.630    7.00  11.84   20.31  43.49   45.06   27.45     8.04
  Loans below 100k   8.23%   85.14   34.31  23.52   49.89  88.92  9.840  100.00   0.00    1.39  40.08   37.14   55.08    35.60
  IO Loans          19.46%   80.60    2.81   0.29   37.24  97.79  7.762    0.59  18.24  100.00  43.27   44.63   22.58     3.99


E When do IOs reset



MONTHS TO NEXT RESET (ARMS ONLY)   COUNT   BALANCE ($)   % OF BALANCE    WAC    REMAINING TERM   WA CLTV   WA FICO
--------------------------------   -----   -----------   ------------   -----   --------------   -------   -------

12 -  17                              36    12,744,903          1.53%   7.836              352     81.78       656
18 -  23                             388   119,961,335         14.37%   7.772              357     80.66       658
24 -  29                               3     1,055,179          0.13%   8.337              351     79.82       622
30 -  35                              82    22,038,765          2.64%   7.747              357     80.58       667
54 -  59                               7     1,895,839          0.23%   7.240              358     77.91       676
                                     ---   -----------         -----    -----              ---     -----       ---
TOTAL:                               516   157,696,021         18.89%   7.771              357     80.70       659
                                     ===   ===========         =====    =====              ===     =====       ===


F Is DTI off current mortgage rate for IO N/A

G Summary of pool per grades



CREDIT GRADE   COUNT   BALANCE ($)   % OF BALANCE     WAC    REMAINING TERM   WA LTV   WA FICO
------------   -----   -----------   ------------   ------   --------------   ------   -------

No Grade          49     7,281,637          0.87%    8.641              339    79.79       592
A                731   141,780,607         16.98%    8.243              350    80.11       653
Ax                 8     1,588,238          0.19%    9.610              358    78.32       616
A1                33     5,306,841          0.64%    8.651              304    85.38       669
AA               653   164,329,245         19.68%    8.097              356    81.06       637
AA 80/20           2       103,978          0.01%   11.448              188   100.00       629
AAA               66    16,566,063          1.98%    7.798              358    81.31       708
AA+                9     2,237,814          0.27%    8.034              359    86.01       659
AX                22     3,162,812          0.38%    8.899              358    83.16       604
A-               728   126,354,520         15.13%    8.486              345    81.26       629
A+               811   173,510,269         20.78%    8.373              349    81.51       643
B                339    62,526,285          7.49%    8.934              356    77.99       576
B-               177    28,883,582          3.46%    8.920              357    78.54       563
B+               200    36,063,252          4.32%    8.472              349    81.72       609
C                181    31,482,279          3.77%    9.564              357    70.70       540
C-                10     1,751,071          0.21%   10.371              357    66.52       545
C+               128    21,364,772          2.56%    9.455              357    74.26       537
D                 10     1,877,880          0.22%   10.593              357    62.85       560
Tier 1            38     6,082,442          0.73%    8.258              320    81.36       654
Tier 2             5     1,529,042          0.18%    8.853              342    84.06       570
Tier 3             2       210,259          0.03%    8.836              354    73.89       554
Tier 4             5       941,414          0.11%    9.279              354    68.04       541
               -----   -----------        ------    ------              ---   ------       ---
Total:         4,207   834,934,301        100.00%    8.458              351    80.13       626
               =====   ===========        ======    ======              ===   ======       ===



H What are top 10 cities and average strats for each



TOP 10 CITIES OF OVERALL POOL   LOANS   BALANCE ($)   BALANCE (%)   RATE (%)   (MONTHS)    LTV    SCORE
-----------------------------   -----   -----------   -----------   --------   --------   -----   -----

Chicago                           103    19,614,507         2.35%      8.672        351   79.96     629
Corona                             17     6,206,774         0.74%      8.222        348   82.58     658
Las Vegas                          73    15,177,706         1.82%      8.187        348   81.22     639
Los Angeles                        61    23,310,338         2.79%      8.052        350   78.09     645
Miami                              87    16,759,565         2.01%      8.411        345   78.07     626
Orlando                            30     5,477,533         0.66%      8.390        354   80.08     612
Phoenix                            67    10,435,216         1.25%      8.287        352   78.59     628
Riverside                          20     5,536,129         0.66%      8.288        347   81.35     653
Sacramento                         25     6,895,218         0.83%      7.968        355   83.03     645
San Jose                           15     6,520,393         0.78%      7.948        346   81.02     650
                                  ---   -----------        -----       -----        ---   -----     ---
Total:                            498   115,933,379        13.89%      8.273        349   79.81     637
                                  ===   ===========        =====       =====        ===   =====     ===


I What % of pool are LTV above 90% and stated doc, IO, FICO below 600 or NOO?



                                                          % STATED                % NON-OWNER   % FICO LESS
LTV > 90   LOANS   BALANCE ($)   % OF BALANCE  RATE (%)    DOCTYPE   % IO LOANS     OCCUPIED      THAN 600
--------   -----   -----------   ------------  --------   --------   ----------   -----------   -----------

             702    77,592,783          9.29%     9.923      47.31         8.35         12.28         12.23


J What is max LTv fo stated income and minimum FICO for stated income?

  MAX LTV, STATED INC.    100.00
  MIN FICO, STATED INC.      500

K What is min FICO for loans above 90% LTV

  Min Fico for ltv greater than 90: 500

L Seasoning hisotry - any over 3m? YES

M Excess spread?

N what is available funds cap schedule at forwards +200, fixed prepay at 50%
CPR, ARM pay at 125% CPR

     Please specify as part of the strats, silent seconds, second liens, MH,

O



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exercise of options or other rights in securities/instruments transactions. Past
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The asset-backed securities referred to in these materials are being offered
when, as and if issued. In particular, you are advised that asset-backed
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revision (including, among other things, the possibility that one or more
classes of securities may be split, combined or eliminated), at any time prior
to issuance or availability of a final prospectus. As a result, you may commit
to purchase securities that have characteristics that may change, and you are
advised that all or a portion of the securities may not be issued that have the
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efc6-1020_forms3a.txt



                                                                  IXIS 2006-HE3
                                                                 ---------------
Principal Balance of Statistical Loan Group
   (Initial mortgage pool if Prefund exists)                     $834,934,301.16

SELLERS (OVER 5%)
First NLC                                                                  39.01
New Century                                                                16.42
Accredited                                                                 12.16
Encore                                                                      9.80
Master Financial                                                            5.96
Rose Mortgage                                                               5.07

SERVICERS (OVER 5%)
Saxon                                                                      94.04
Master Financial                                                            5.96

FIXED/FLOATING
FRM Percentage                                                             13.20
ARM Percentage                                                             86.80

IO Percentage                                                              19.46
Wtd Avg IO Term                                                               60

Wtd Avg Current Mortgage Rate (%)                                          8.458
Non-Zero Wtd Avg Margin (%)                                                6.361
Wtd Avg Initial Cap (%)                                                    2.501
Wtd Avg Periodic Cap (%)                                                   1.347

LIEN COMPOSITION
% 1st Lien                                                                 96.51
% 2nd Lien                                                                  3.49

Non-Zero Wtd Avg FICO                                                        626
% FICO below 600 (inc. N/A)                                                29.71
% FICO below 550 (inc. N/A)                                                12.02

Wtd Avg Comb Orig LTV                                                      80.13
% LTV > 80                                                                 31.56
% LTV > 90                                                                  9.29
% LTV > 95                                                                  4.59

% Silent Seconds                                                           34.70
CLTV including all simultaneous liens (%)                                  86.82

DOCUMENTATION LEVEL
% Full Documentation                                                       41.02
% Stated Documentation                                                     54.68
% Limited Documentation                                                     4.31
% No Documentation                                                          0.00

% Owner Occupied                                                           92.54

LOAN PURPOSE
% Cashout Refinance                                                        52.45
% Purchase                                                                 42.77
% Rate Term Refinance                                                       4.78

STATE CONCENTRATION (OVER 5%)
CA                                                                         32.46
FL                                                                         14.27
IL                                                                          6.86
NY                                                                          5.00

% Prepay Penalty                                                           74.01
Wtd Avg Std Orig Term (mths)                                                 354
Wtd Avg Std Rem Term (mths)                                                  351
WALA (mths)                                                                    3

This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
nonresearch personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading or other non-research personnel of
one of the following: Morgan Stanley & Co. Incorporated, Morgan Stanley & Co.
International Limited, Morgan Stanley Japan Limited and/or Morgan Stanley Dean
Witter Asia Limited (together with their affiliates, hereinafter "Morgan
Stanley"). This material was not produced by a Morgan Stanley research analyst,
although it may refer to a Morgan Stanley research analyst or research report.
Unless otherwise indicated, these views (if any) are the author's and may differ
from those of the Morgan Stanley fixed income or equity research department or
others in the firm.

This material was prepared by or in conjunction with Morgan Stanley trading
desks that may deal as principal in or own or act as market maker or liquidity
provider for the securities/instruments (or related derivatives) mentioned
herein. The trading desk may have accumulated a position in the subject
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[LOGO]

STRATS REQUEST INTRODUCTION

This workbook has four data sheets for data input: One Structure sheet and three
Collateral sheets. The Structure sheet is for the structure of the offered
notes, input cells are highlighted and an example sheet is shown.

The collateral sheets are for the assets underlying the deal, input cells are
highlighted. With the exception of the summary statistics table each cell should
contain the weighted percentage of deals that answer the given criteria, e.g.
what % are owner occupied, what % have FICO of 640-659 and are IO. The
Collateral Total sheet is for the entire deal, with the other sheets for the
individual groups.



[LOGO]

DEAL STRUCTURE REQUEST SHEET

Deal launched Date
Originator
Servicer
Collateral
Size in USD

Structure:

Tranche name   Rating: Moodys/S&P   Size (M$)  Spread   WAL   Credit Enhacement

Excess spread
Reserve fund
Max reserve fund

Example:

Deal launched Date   Tuesday, March 01, 2005
Originator                    XXXXX
Servicer                       YYYY
Collateral                   Resi B&C
Size in USD                500,000,000

Structure:



Tranche name   Rating: Moodys/S&P   Size (M$)   Spread      WAL      Credit Enhacement
------------   ------------------   ---------   ------   ---------   -----------------

A1             AAA/AAA                    200                    1              60.00%
A2             AAA/AAA                    140                    3              32.00%
A3             AAA/AAA                     50            6.23/9.66              22.00%
               AAA/AAA                                                          22.00%
               AAA/AAA                                                          22.00%
M1             Aa2/AA                      55                    5              11.00%
M2             A2/A                        30                    5               5.00%
M3             A3/A-                        5                  4.6               4.00%
B1             Baa1/BBB+                    5                  4.6               3.00%
B2             Baa2/BBB                     5                  4.5               2.00%
B3             Baa3/BBB-                    5                  4.3               1.00%
B4             Ba1/BB+                      5                                    0.00%
               N/A


Excess spread      3.92%
Reserve fund       2.65%
Max reserve fund      0%



                       TOTAL POOL STATISTICS REQUEST SHEET
LTV/FICO MATRIX


                                                   LTV
             -------------------------------------------------------------------------------
             60 and below   61-65   66-70  71-75  76-80  81-85  86-90  91-95  96-100  Total
             ------------   -----   -----  -----  -----  -----  -----  -----  ------  -----

FIXED
FICO
   350-479                                                                              0.00%
   480-499                                                                              0.00%
   500-519           0.54%   0.52%  0.19%  0.95%   0.59%  0.89% 0.00%  0.00%   0.06%    3.74%
   520-539           0.22%   0.30%  0.56%  0.56%   1.89%  0.85% 0.28%  0.15%   0.00%    4.81%
   540-559           0.68%   0.34%  0.81%  0.47%   0.49%  0.98% 0.61%  0.00%   0.00%    4.37%
   560-579           0.81%   0.19%  0.28%  0.49%   1.13%  0.33% 0.99%  0.20%   0.27%    4.70%
   580-599           0.72%   0.20%  0.93%  0.77%   1.04%  0.61% 1.89%  0.31%   1.26%    7.73%
   600-619           0.90%   0.13%  0.12%  0.54%   2.41%  1.58% 1.14%  1.09%   2.88%   10.79%
   620-639           1.18%   0.79%  0.46%  1.28%   4.34%  1.73% 1.66%  0.58%   7.58%   19.60%
   640-659           1.24%   0.25%  0.38%  0.65%   4.64%  0.52% 0.94%  0.73%   5.78%   15.13%
   660-679           1.47%   0.00%  0.37%  0.40%   2.44%  1.56% 1.66%  0.11%   3.35%   11.37%
   680-699           0.66%   0.00%  0.82%  0.49%   2.10%  0.36% 0.21%  0.42%   2.82%    7.88%
   700-719           0.33%   0.00%  0.36%  0.07%   0.26%  1.44% 0.00%  0.04%   1.35%    3.84%
   720-739           0.44%   0.00%  0.00%  0.00%   1.17%  0.00% 0.35%  0.07%   0.96%    2.98%
   740-759           0.00%   0.00%  0.61%  0.00%   0.00%  0.00% 0.26%  0.04%   0.29%    1.20%
   760-779           0.00%   0.00%  0.00%  0.00%   0.00%  0.00% 0.00%  0.04%   0.36%    0.40%
   780-799           0.00%   0.00%  0.00%  0.41%   0.59%  0.00% 0.00%  0.00%   0.25%    1.25%
   800-850           0.00%   0.00%  0.00%  0.00%   0.00%  0.00% 0.00%  0.00%   0.21%    0.21%
                     ----    ----   ----   ----   -----  -----  ----   ----   -----   ------
   Total             9.18%   2.72%  5.88%  7.07%  23.09% 10.86% 9.98%  3.78%  27.44%  100.00%
                     ====    ====   ====   ====   =====  =====  ====   ====   =====   ======

ARM
FICO
   NA                                                                                   0.00%
   350-479                                                                              0.00%
   480-499                                                                              0.00%
   500-519           0.57%   0.42%  0.61%  1.15%   1.19%  0.53%  0.03% 0.00%  0.00%     4.50%
   520-539           0.63%   0.57%  1.08%  0.86%   1.04%  0.77%  0.01% 0.00%  0.00%     4.97%
   540-559           0.49%   0.21%  0.54%  1.13%   1.61%  1.07%  0.50% 0.09%  0.03%     5.69%
   560-579           0.38%   0.52%  0.33%  1.09%   1.88%  1.18%  0.89% 0.19%  0.03%     6.48%
   580-599           0.48%   0.19%  0.43%  0.67%   3.44%  1.18%  1.73% 0.39%  0.23%     8.74%
   600-619           0.72%   0.31%  0.48%  0.76%   5.88%  1.65%  2.81% 0.90%  0.15%    13.66%
   620-639           0.43%   0.21%  0.38%  0.83%   9.80%  1.59%  1.77% 1.11%  0.03%    16.14%
   640-659           0.51%   0.10%  0.03%  0.16%   8.95%  1.25%  1.72% 0.56%  0.14%    13.42%
   660-679           0.07%   0.11%  0.20%  0.27%   6.57%  0.42%  1.25% 0.52%  0.10%     9.52%
   680-699           0.08%   0.09%  0.18%  0.19%   4.61%  0.52%  0.71% 0.26%  0.07%     6.71%
   700-719           0.03%   0.04%  0.00%  0.03%   2.96%  0.07%  0.21% 0.45%  0.20%     3.98%
   720-739           0.00%   0.00%  0.00%  0.00%   1.86%  0.12%  0.17% 0.18%  0.10%     2.43%
   740-759           0.03%   0.00%  0.02%  0.00%   1.44%  0.06%  0.07% 0.20%  0.02%     1.84%
   760-779           0.00%   0.00%  0.00%  0.00%   1.15%  0.04%  0.12% 0.00%  0.00%     1.32%
   780-799           0.00%   0.00%  0.00%  0.07%   0.39%  0.03%  0.02% 0.00%  0.00%     0.51%
   800-850           0.00%   0.00%  0.00%  0.00%   0.09%  0.00%  0.02% 0.00%  0.00%     0.10%
                     ----    ----   ----   ----   -----  -----  ----   ----   -----   ------
   Total             4.42%   2.77%  4.29%  7.21%  52.86% 10.46% 12.02% 4.84%  1.12%   100.00%
                     ====    ====   ====   ====   =====  =====  ====   ====   =====   ======


CLTV/FICO MATRIX



                                               CLTV (INCLUDING SILENT SECONDS)
            -----------------------------------------------------------------------------------------------------
            0 and below  61-65  66-70  71-75  76-80  81-85  86-90  91-95  96-100  101-105  106-110  110+   Total
            -----------  -----  -----  -----  -----  -----  -----  -----  ------  -------  -------  ----   -----

FIXED
FICO
   350-479                                                                                                   0.00%
   480-499                                                                                                   0.00%
   500-519        0.54%  0.52%  0.19%  0.95%   0.43%  0.89%  0.16% 0.00%   0.06%    0.00%    0.00%  0.00%    3.74%
   520-539        0.22%  0.30%  0.56%  0.56%   1.79%  0.85%  0.33% 0.00%   0.19%    0.00%    0.00%  0.00%    4.81%
   540-559        0.68%  0.34%  0.81%  0.47%   0.49%  0.98%  0.61% 0.00%   0.00%    0.00%    0.00%  0.00%    4.37%
   560-579        0.81%  0.19%  0.28%  0.40%   1.13%  0.33%  1.08% 0.20%   0.27%    0.00%    0.00%  0.00%    4.70%
   580-599        0.72%  0.20%  0.93%  0.77%   0.94%  0.61%  1.89% 0.31%   1.35%    0.00%    0.00%  0.00%    7.73%
   600-619        0.90%  0.13%  0.12%  0.54%   0.75%  1.58%  1.14% 1.09%   4.54%    0.00%    0.00%  0.00%   10.79%
   620-639        1.18%  0.79%  0.46%  1.28%   2.90%  1.73%  1.66% 0.69%   8.91%    0.00%    0.00%  0.00%   19.60%
   640-659        1.24%  0.25%  0.38%  0.65%   2.77%  0.52%  1.03% 1.27%   7.02%    0.00%    0.00%  0.00%   15.13%
   660-679        1.11%  0.00%  0.37%  0.70%   1.27%  1.56%  1.72% 0.43%   4.20%    0.00%    0.00%  0.00%   11.37%
   680-699        0.66%  0.00%  0.82%  0.49%   1.69%  0.36%  0.21% 0.42%   3.23%    0.00%    0.00%  0.00%    7.88%
   700-719        0.33%  0.00%  0.36%  0.00%   0.26%  1.44%  0.00% 0.04%   1.42%    0.00%    0.00%  0.00%    3.84%
   720-739        0.44%  0.00%  0.00%  0.00%   0.52%  0.00%  0.27% 0.59%   1.17%    0.00%    0.00%  0.00%    2.98%
   740-759        0.00%  0.00%  0.61%  0.00%   0.00%  0.00%  0.26% 0.04%   0.29%    0.00%    0.00%  0.00%    1.20%
   760-779        0.00%  0.00%  0.00%  0.00%   0.00%  0.00%  0.00% 0.04%   0.36%    0.00%    0.00%  0.00%    0.40%
   780-799        0.00%  0.00%  0.00%  0.41%   0.59%  0.00%  0.00% 0.00%   0.25%    0.00%    0.00%  0.00%    1.25%
   800-850        0.00%  0.00%  0.00%  0.00%   0.00%  0.00%  0.00% 0.00%   0.21%    0.00%    0.00%  0.00%    0.21%
                  ----   ----   ----   ----   -----  -----  -----  ----   -----     ----     ----   ----   ------
   Total          8.82%  2.72%  5.88%  7.22%  15.54% 10.86% 10.36% 5.13%  33.48%    0.00%    0.00%  0.00%  100.00%
                  ====   ====   ====   ====   =====  =====  =====  ====   =====     ====     ====   ====   ======

ARM
FICO
   N/A                                                                                                       0.00%
   350-479                                                                                                   0.00%
   480-499                                                                                                   0.00%
   500-519        0.57%  0.42%  0.61%  1.14%   1.11%  0.55%  0.03% 0.03%   0.03%  0.00%    0.00%    0.00%    4.50%
   520-539        0.63%  0.57%  1.08%  0.86%   0.99%  0.68%  0.03% 0.01%   0.12%  0.00%    0.00%    0.00%    4.97%
   540-559        0.49%  0.21%  0.54%  1.13%   1.46%  1.03%  0.44% 0.11%   0.28%  0.00%    0.00%    0.00%    5.69%
   560-579        0.35%  0.52%  0.33%  1.07%   1.81%  1.15%  0.74% 0.21%   0.30%  0.00%    0.00%    0.00%    6.48%
   580-599        0.48%  0.19%  0.43%  0.67%   2.29%  1.16%  1.61% 0.42%   1.49%  0.00%    0.00%    0.00%    8.74%
   600-619        0.72%  0.31%  0.48%  0.73%   1.69%  1.52%  2.67% 1.09%   4.45%  0.00%    0.00%    0.00%   13.66%
   620-639        0.43%  0.21%  0.35%  0.82%   2.25%  1.47%  1.77% 1.30%   7.53%  0.00%    0.00%    0.00%   16.14%
   640-659        0.51%  0.10%  0.03%  0.16%   1.85%  1.19%  1.84% 0.94%   6.79%  0.00%    0.00%    0.00%   13.42%
   660-679        0.07%  0.11%  0.20%  0.17%   0.87%  0.42%  1.30% 0.76%   5.62%  0.00%    0.00%    0.00%    9.52%
   680-699        0.08%  0.09%  0.13%  0.12%   0.79%  0.42%  0.73% 0.57%   3.80%  0.00%    0.00%    0.00%    6.71%
   700-719        0.03%  0.04%  0.00%  0.03%   0.19%  0.05%  0.28% 0.61%   2.75%  0.00%    0.00%    0.00%    3.98%
   720-739        0.00%  0.00%  0.00%  0.00%   0.27%  0.12%  0.17% 0.25%   1.62%  0.00%    0.00%    0.00%    2.43%
   740-759        0.03%  0.00%  0.02%  0.00%   0.22%  0.02%  0.07% 0.24%   1.23%  0.00%    0.00%    0.00%    1.84%
   760-779        0.00%  0.00%  0.00%  0.00%   0.18%  0.04%  0.12% 0.15%   0.82%  0.00%    0.00%    0.00%    1.32%
   780-799        0.00%  0.00%  0.00%  0.07%   0.07%  0.03%  0.02% 0.00%   0.32%  0.00%    0.00%    0.00%    0.51%
   800-850        0.00%  0.00%  0.00%  0.00%   0.09%  0.00%  0.02% 0.00%   0.00%  0.00%    0.00%    0.00%    0.10%
                  ----   ----   ----   ----   -----  -----  -----  ----   -----     ----     ----   ----   ------
   Total          4.39%  2.77%  4.20%  6.97%  16.14%  9.84% 11.84% 6.71%  37.14%  0.00%    0.00%    0.00%  100.00%
                  ====   ====   ====   ====   =====  =====  =====  ====   =====     ====     ====   ====   ======




            IO
          -----

FICO
350-479
480-499
500-519    0.13%
520-539
540-559    0.15%
560-579    0.44%
580-599    2.09%
600-619   16.77%
620-639   18.85%
640-659   19.14%
660-679   14.40%
680-699   11.25%
700-719    6.26%
720-739    3.90%
740-759    2.45%
760-779    2.88%
780-799    0.89%
800-850    0.38%




          MORTGAGE INSURANCE
          ------------------

FICO
350-479
480-499
500-519
520-539
540-559
560-579
580-599
600-619
620-639
640-659
660-679
680-699
700-719
720-739
740-759
760-779
780-799
800-850




         MORTGAGE INSURANCE
         ------------------

LTV
<60
61-65
66-70
71-75
76-80
81-85
86-90
91-95
96-100
100+


DTI/FICO MATRIX



                                                              DTI
             ----------------------------------------------------------------------------------------------------
              <20   20-24.9   25-29.9   30-34.9   35-39.9   40-44.9   45-49.9   50-54.9   55-59.9    60+    TOTAL
             ----   -------   -------   -------   -------   -------   -------   -------   -------   ----   ------

PRODUCT
FIXED
FICO RANGE                                                                                                   0.00%
300-500                                                                                                      0.00%
500-550      0.34%     0.39%     0.57%     0.66%     2.26%     2.23%     3.53%     1.38%     0.00%  0.00%   11.37%
550-575      0.19%     0.21%     0.64%     0.23%     1.04%     1.23%     1.21%     0.42%     0.00%  0.00%    5.17%
575-600      0.00%     0.40%     0.49%     0.34%     1.14%     3.47%     1.58%     1.38%     0.00%  0.00%    8.80%
600-620      0.61%     0.18%     0.52%     0.68%     1.46%     1.50%     4.68%     1.16%     0.00%  0.00%   10.79%
620-650      0.42%     0.50%     2.02%     2.30%     3.74%     6.02%    10.09%     2.16%     0.20%  0.00%   27.45%
650-680      0.47%     0.40%     0.35%     0.57%     2.49%     6.15%     6.77%     1.28%     0.17%  0.00%   18.65%
680-700      1.06%     0.50%     0.43%     0.73%     1.03%     2.77%     1.13%     0.22%     0.00%  0.00%    7.88%
700-750      0.19%     0.45%     0.00%     0.49%     0.59%     2.32%     2.80%     0.17%     0.04%  0.00%    7.06%
750-800      0.00%     0.00%     0.00%     0.59%     0.04%     1.37%     0.34%     0.27%     0.00%  0.00%    2.61%
800-900      0.00%     0.00%     0.00%     0.00%     0.00%     0.06%     0.15%     0.00%     0.00%  0.00%    0.21%
             ----      ----      ----      ----     -----     -----     -----      ----      ----   ----   ------
TOTAL        3.29%     3.04%     5.03%     6.59%    13.80%    27.11%    32.28%     8.46%     0.41%  0.00%  100.00%
             ====      ====      ====      ====     =====     =====     =====      ====      ====   ====   ======
ARM
N/A                                                                                                       0.00%
300-500                                                                                                      0.00%
500-550      0.28%     0.48%     0.44%     0.97%     1.62%     3.09%     3.48%     1.53%     0.24%  0.00%   12.11%
550-575      0.13%     0.18%     0.24%     0.86%     0.83%     2.17%     2.46%     0.97%     0.03%  0.00%    7.86%
575-600      0.19%     0.22%     0.52%     0.86%     1.11%     2.53%     3.87%     1.05%     0.03%  0.00%   10.39%
600-620      0.31%     0.40%     0.48%     0.91%     2.19%     2.97%     4.93%     1.30%     0.16%  0.00%   13.66%
620-650      0.33%     0.10%     0.66%     1.69%     2.87%     6.35%     8.83%     2.17%     0.21%  0.00%   23.20%
650-680      0.34%     0.27%     0.48%     0.66%     1.79%     4.63%     6.60%     0.93%     0.17%  0.00%   15.88%
680-700      0.06%     0.09%     0.19%     0.29%     0.63%     2.69%     2.11%     0.48%     0.16%  0.00%    6.71%
700-750      0.20%     0.00%     0.47%     0.25%     0.92%     2.40%     2.59%     0.49%     0.03%  0.00%    7.35%
750-800      0.02%     0.02%     0.13%     0.10%     0.38%     1.08%     0.94%     0.06%     0.00%  0.00%    2.73%
800-900      0.00%     0.00%     0.00%     0.00%     0.00%     0.04%     0.07%     0.00%     0.00%  0.00%    0.10%
             ----      ----      ----      ----     -----     -----     -----      ----      ----   ----   ------
TOTAL        1.86%     1.75%     3.60%     6.60%    12.34%    27.96%    35.89%     8.98%     1.02%  0.00%  100.00%
             ====      ====      ====      ====     =====     =====     =====      ====      ====   ====   ======


LOAN SIZE / FICO MATRIX



          <50  50-100  100-150  150-100  200-250  250-300  300-350  350-400  400-450  450-500  500-550  550-600  600-650  650-700
         ----  ------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------  -------

FICO
350-479
480-499
500-519  0.03%  0.45%    0.92%    1.05%    0.65%    0.45%    0.39%    0.09%    0.10%    0.12%    0.00%    0.07%    0.08%    0.00%
520-539  0.03%  0.41%    1.11%    1.03%    0.57%    0.80%    0.38%    0.41%    0.15%    0.00%    0.06%    0.00%    0.00%    0.00%
540-559  0.03%  0.53%    1.08%    1.09%    0.94%    0.59%    0.47%    0.14%    0.25%    0.06%    0.07%    0.21%    0.08%    0.00%
560-579  0.02%  0.55%    0.99%    1.05%    1.03%    0.72%    0.88%    0.27%    0.20%    0.11%    0.13%    0.14%    0.00%    0.08%
580-599  0.09%  0.69%    1.44%    1.52%    1.29%    0.89%    0.54%    0.37%    0.67%    0.52%    0.13%    0.21%    0.00%    0.16%
600-619  0.13%  0.93%    1.62%    1.97%    1.92%    1.79%    1.21%    1.03%    0.51%    0.80%    0.25%    0.35%    0.45%    0.08%
620-639  0.32%  1.16%    1.77%    1.88%    2.26%    2.23%    1.38%    0.81%    1.38%    1.26%    0.82%    0.41%    0.22%    0.08%
640-659  0.17%  0.97%    1.56%    1.46%    1.67%    1.47%    1.28%    1.29%    1.43%    0.86%    0.44%    0.21%    0.22%    0.08%
660-679  0.12%  0.53%    0.92%    1.36%    1.61%    0.95%    1.08%    0.77%    0.91%    0.52%    0.43%    0.28%    0.00%    0.17%
680-699  0.07%  0.37%    0.57%    0.91%    0.77%    0.49%    0.65%    0.99%    0.20%    0.29%    0.31%    0.62%    0.08%    0.17%
700-719  0.04%  0.18%    0.17%    0.52%    0.56%    0.36%    0.50%    0.50%    0.15%    0.40%    0.06%    0.21%    0.22%    0.08%
720-739  0.03%  0.15%    0.21%    0.40%    0.35%    0.23%    0.19%    0.32%    0.00%    0.28%    0.12%    0.07%    0.08%    0.08%
740-759  0.01%  0.10%    0.21%    0.23%    0.19%    0.26%    0.19%    0.18%    0.16%    0.06%    0.00%    0.07%    0.00%    0.00%
760-779  0.01%  0.04%    0.07%    0.09%    0.05%    0.03%    0.12%    0.09%    0.10%    0.23%    0.12%    0.00%    0.07%    0.08%
780-799  0.01%  0.03%    0.03%    0.04%    0.10%    0.07%    0.04%    0.09%    0.00%    0.06%    0.06%    0.00%    0.00%    0.08%
800-850  0.00%  0.03%    0.01%    0.00%    0.00%    0.03%    0.00%    0.04%    0.00%    0.00%    0.00%    0.00%    0.00%    0.00%
         ----   ----    -----    -----    -----    -----     ----     ----     ----     ----     ----     ----     ----     ----
Total:   1.11%  7.12%   12.67%   14.60%   13.96%   11.37%    9.30%    7.38%    6.20%    5.56%    3.01%    2.83%    1.50%    1.13%
         ====   ====    =====    =====    =====    =====     ====     ====     ====     ====     ====     ====     ====     ====


                                              TOTAL POOL STATISTICS



   GEOGRAPHIC DISTRIBUTION
----------------------------
State                    %
-----                  -----

California             32.46%
Florida                14.27%
New York                5.00%
New Jersey              2.48%
Nevada                  2.38%
Texas                   3.19%
Illinois                6.86%
Washington              1.95%
Maryland                3.08%
Massachusetts           2.47%
Arizona                 3.83%
Colorado                0.96%
Oregon                  1.00%
Connecticut             1.78%
Georgia                 1.60%
North Carolina          0.57%
Alaska                  0.02%
Alabama                 0.18%
Arkansas                0.18%
Delaware                0.21%
Hawaii                  1.36%
Idaho                   0.40%
Indiana                 0.52%
Iowa                    0.17%
Kansas                  0.26%
Kentucky                0.11%
Louisiana               0.30%
Maine                   0.19%
Michigan                1.61%
Minnesota               0.47%
Mississippi             0.06%
Missouri                0.90%
Montana                 0.04%
Nebraska                0.04%
New Hampshire           0.14%
New Mexico              0.32%
North Dakota            0.05%
Ohio                    0.59%
Oklahoma                0.14%
Pennsylvania            1.84%
Rhode Island            1.82%
South Carolina          0.08%
South Dakota            0.01%
Tennessee               0.86%
Utah                    0.35%
Vermont                 0.02%
Virginia                2.10%
West Virginia
Wisconsin               0.47%
Wyoming                 0.04%
District of Columbia    0.24%




        DOCUMENTATION
-----------------------------
                          %
                        -----

Full Documentation      41.02%
Stated Documentation    54.68%
Reduced Documentation    4.31%
No documentation




     OCCUPANCY STATUS
--------------------------
                       %
                     -----

Primary Residence    92.54%
Second / Vacation     1.52%
Non Owner Occupied    5.95%




DISTRIBUTION BY PROPERTY TYPE
-----------------------------
                          %
                       ------

One                    76.71%
2-4 Unit                9.35%
Pud detached            6.36%
Condo                   6.23%
Pud attached
Modular Home
Manufactured Housing
Town house              1.35%




      REPAYMENT TYPE
-------------------------
                      %
                    -----

2 year ARM          52.82%
2 year ARM IO       15.89%
3 Year ARM          14.67%
3 Year ARM IO        2.77%
25 Lib 1M/IO/10YR
5 Year ARM           0.24%
5 Year ARM IO        0.23%
15/30 Balloon        2.86%
30/40 Balloon        1.76%
Other Fixed          7.99%
Other IO             0.58%
Other ARM            0.18%




PREPAY PENALTY
--------------
           %
         -----

1 year    8.16%
2 year   44.64%
3 year   19.66%
other     1.55%
none     25.99%




% Mortgage Insurance
% Silent 2nds          34.70%
IO WA Credit Score       659
IO WA LTV              80.60%




  RATE TYPE
-------------
          %
        -----

Fixed   13.20%
ARM     86.80%




  BORROWER TYPE
----------------
             %
           -----

1st Lien   96.51%
2nd lien    3.49%




      MORTGAGE PURPOSE
---------------------------
                        %
                      -----

Purchase              42.77%
Rate/Term refinance    4.78%
Equity refinance      52.45%




             SUMMARY STATISTICS
--------------------------------------------

Number of loans                        4,207
Total principal balance       834,934,301.16
Average outstanding balance       198,463.11
Largest outstanding balance     1,000,000.00
WA LTV                                 80.13%
LTV >90%                                9.29%
WA Remaining Term (Months)               351
WA Seasoning (months)                      3
WA Credit Score                          626
WA Net Mortgage Rate                   7.938
WA Neg Am limit




           AFC
------------------------
                     %
                   -----

           1.00%    0.12%
           1.50%   13.62%
           1.53%
           2.00%   22.89%
           2.15%
           2.50%
           3.00%   50.09%
           3.10%
           3.59%
           5.00%    0.06%
           6.00%    0.03%
NA or fixed rate   13.20%




      CONFORMING
----------------------
                   %
                 -----

Conforming       81.55%
Non-conforming   18.45%




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1. By Loan Type                           please use more rows if there are
                                          other type of loans









                                          No. of Mortgage Loans   Principal Balance   % of Principal Balance   Wt. Avg. Gross Coupon
                                          ---------------------   -----------------   ----------------------   ---------------------

ARM - 6 Month
ARM - 1 Year/6 Month                                  2                  542,838                0.07                    7.742
ARM - 2 Year/6 Month                              1,203              227,698,738               27.27                    8.687
ARM - 3 Year/6 Month                                488               77,786,208                9.32                    8.903
ARM - 5 Year/6 Month                                 12                1,990,884                0.24                    8.472
ARM - 10 Year/6 Month
ARM - 10 Year/1 Year
ARM - 2 Year/6 Month - Balloon - 30/40              789              213,147,286               25.53                    8.242
ARM - 3 Year/6 Month - Balloon - 30/40              211               44,732,369                5.36                    8.383
ARM - 2 Year/6 Month - Balloon - 30/50                1                  203,935                0.02                    8.450
ARM - 10 Year/6 Month - Balloon - 30/40
ARM - 10 Year/1 Year - Balloon - 30/40
Interest Only Arm - 2 Year/6 Month                  424              132,706,238               15.89                    7.778
Interest Only Arm - 3 Year/6 Month                   85               23,093,944                2.77                    7.774
Interest Only Arm - 5 Year/6 Month                    7                1,895,839                0.23                    7.240
Interest Only Arm - 10 Year/1 Year
Interest Only Arm - 10 Year/6 Month
Dual Amort - 10/40 - 2 Year/6 Month                   3                  941,351                0.11                    7.192
Fixed                                               982              110,194,672               13.20                    9.118
                                                  -----              -----------              ------                   ------
Total:                                            4,207              834,934,301              100.00                    8.458
                                                  =====              ===========              ======                   ======


                                                                                       FICO
                                                   ---------------------------------------------------------------------------
                                                    LESS
                                                    THAN
                                                     OR
                                                    EQUAL
                                           % ARM   TO 500   500.1-525   525.1-550   550.1-575   575.1-600    >600     Wt. Avg.
                                          ------   ------   ---------   ---------   ---------   ---------   -------   --------

ARM - 6 Month
ARM - 1 Year/6 Month                      100.00       -          -           -           -       50.54       49.46      602
ARM - 2 Year/6 Month                      100.00    0.57       8.17        9.26        9.61       12.15       60.23      614
ARM - 3 Year/6 Month                      100.00    0.38      12.76       16.15       12.47       14.81       43.43      592
ARM - 5 Year/6 Month                      100.00       -          -        3.95       18.78       18.93       58.34      631
ARM - 10 Year/6 Month
ARM - 10 Year/1 Year
ARM - 2 Year/6 Month - Balloon - 30/40    100.00    0.15       5.01        4.50        8.99       12.20       69.16      626
ARM - 3 Year/6 Month - Balloon - 30/40    100.00       -       4.38        6.42       12.84       16.49       59.87      616
ARM - 2 Year/6 Month - Balloon - 30/50    100.00       -          -           -           -           -      100.00      625
ARM - 10 Year/6 Month - Balloon - 30/40
ARM - 10 Year/1 Year - Balloon - 30/40
Interest Only Arm - 2 Year/6 Month        100.00       -       0.16           -        0.50        2.31       97.03      658
Interest Only Arm - 3 Year/6 Month        100.00       -          -           -           -        6.75       93.25      665
Interest Only Arm - 5 Year/6 Month        100.00       -          -           -           -           -      100.00      676
Interest Only Arm - 10 Year/1 Year
Interest Only Arm - 10 Year/6 Month
Dual Amort - 10/40 - 2 Year/6 Month       100.00       -          -           -           -           -      100.00      631
Fixed                                       0.00    0.06       4.92        6.39        5.53        9.07       74.02      631
                                          ------    ----      -----       -----       -----       -----     -------      ---
Total:                                     86.80    0.24       5.61        6.37        7.62       10.52       69.64      626
                                          ======    ====      =====       =====       =====       =====     =======      ===


                                                    Effective Combined LTV (includes silent seconds)
                                          --------------------------------------------------------------------
                                           LESS
                                           THAN
                                            OR
                                          EQUAL
                                          TO 80   80.01-85   85.01-90   90.01-95   95.01-100   >100   Wt. Avg.
                                          -----   --------   --------   --------   ---------   ----   --------

ARM - 6 Month
ARM - 1 Year/6 Month                      50.54         -      49.46          -           -      -      84.95
ARM - 2 Year/6 Month                      41.81     10.12      13.41       6.80       27.86      -      84.49
ARM - 3 Year/6 Month                      48.91     15.22       9.38       5.03       21.46      -      82.69
ARM - 5 Year/6 Month                      48.77     37.09       6.32          -        7.82      -      78.70
ARM - 10 Year/6 Month
ARM - 10 Year/1 Year
ARM - 2 Year/6 Month - Balloon - 30/40    32.15      8.64      11.77       7.24       40.20      -      88.22
ARM - 3 Year/6 Month - Balloon - 30/40    37.62     12.26      12.68       4.20       33.25      -      86.28
ARM - 2 Year/6 Month - Balloon - 30/50        -         -          -          -      100.00      -     100.00
ARM - 10 Year/6 Month - Balloon - 30/40
ARM - 10 Year/1 Year - Balloon - 30/40
Interest Only Arm - 2 Year/6 Month        16.95      6.58      11.76       7.97       56.74      -      92.81
Interest Only Arm - 3 Year/6 Month        23.49     12.71       4.67       4.82       54.31      -      91.22
Interest Only Arm - 5 Year/6 Month        64.32      6.38       8.30      11.50        9.49      -      79.81
Interest Only Arm - 10 Year/1 Year
Interest Only Arm - 10 Year/6 Month
Dual Amort - 10/40 - 2 Year/6 Month       85.61         -          -          -       14.39      -      78.47
Fixed                                     40.18     10.86      10.36       5.13       33.48      -      84.25
                                          -----     -----      -----      -----      ------     --     ------
Total:                                    35.22      9.97      11.64       6.50       36.66      -      86.82
                                          =====     =====      =====      =====      ======     ==     ======


                                                       Debt-to-Income Ratio                   Documentation
                                          ----------------------------------------------   ------------------
                                           LESS
                                           THAN
                                            OR
                                           EQUAL
                                           TO 45   45.01-50   50.01-55    >55   Wt. Avg.   % Full   % Limited   % Refinancing
                                          ------   --------   --------   ----   --------   ------   ---------   -------------

ARM - 6 Month
ARM - 1 Year/6 Month                           -    100.00          -       -     47.25         -         -         50.54
ARM - 2 Year/6 Month                       57.68     32.05       9.33    0.94     42.07     39.42      4.79         57.53
ARM - 3 Year/6 Month                       51.53     35.30      12.82    0.35     42.71     51.23      2.53         73.19
ARM - 5 Year/6 Month                       82.09     17.91          -       -     42.15     17.81         -         82.41
ARM - 10 Year/6 Month
ARM - 10 Year/1 Year
ARM - 2 Year/6 Month - Balloon - 30/40     50.44     39.22       9.57    0.77     43.39     37.24      3.51         56.23
ARM - 3 Year/6 Month - Balloon - 30/40     54.77     31.70       9.27    4.25     43.87     43.25      2.78         66.05
ARM - 2 Year/6 Month - Balloon - 30/50         -         -     100.00       -     51.37    100.00         -             -
ARM - 10 Year/6 Month - Balloon - 30/40
ARM - 10 Year/1 Year - Balloon - 30/40
Interest Only Arm - 2 Year/6 Month         55.08     38.99       5.45    0.48     43.34     37.14      6.59         37.39
Interest Only Arm - 3 Year/6 Month         55.27     37.52       7.20       -     43.21     32.89      2.19         52.65
Interest Only Arm - 5 Year/6 Month         72.31     27.69          -       -     42.51     73.63         -         73.63
Interest Only Arm - 10 Year/1 Year
Interest Only Arm - 10 Year/6 Month
Dual Amort - 10/40 - 2 Year/6 Month            -     36.45      63.55       -     49.84     14.39         -         85.61
Fixed                                      59.03     32.10       8.46    0.41     41.85     50.05      4.65         67.67
                                          ------    ------     ------    ----     -----    ------      ----         -----
Total:                                     54.78     35.42       8.96    0.84     42.79     41.02      4.31         57.23
                                          ======    ======     ======    ====     =====    ======      ====         =====






                                                       Owner Occupancy
                                          ----------------------------------------
                                          % Owner Occupied   % Investor Properties
                                          ----------------   ---------------------

ARM - 6 Month
ARM - 1 Year/6 Month                           100.00                    -
ARM - 2 Year/6 Month                            85.20                12.10
ARM - 3 Year/6 Month                            95.00                 4.44
ARM - 5 Year/6 Month                            75.77                24.23
ARM - 10 Year/6 Month
ARM - 10 Year/1 Year
ARM - 2 Year/6 Month - Balloon - 30/40          93.53                 4.60
ARM - 3 Year/6 Month - Balloon - 30/40          97.08                 2.92
ARM - 2 Year/6 Month - Balloon - 30/50         100.00                    -
ARM - 10 Year/6 Month - Balloon - 30/40
ARM - 10 Year/1 Year - Balloon - 30/40
Interest Only Arm - 2 Year/6 Month              98.25                 0.49
Interest Only Arm - 3 Year/6 Month              95.90                 3.53
Interest Only Arm - 5 Year/6 Month             100.00                    -
Interest Only Arm - 10 Year/1 Year
Interest Only Arm - 10 Year/6 Month
Dual Amort - 10/40 - 2 Year/6 Month            100.00                    -
Fixed                                           94.66                 5.07
                                               ------                -----
Total:                                          92.54                 5.95
                                               ======                =====






                                                           IO Loan Distribution
                                          -----------------------------------------------------
                                          24mth IO   36mth IO   60mth IO   84mth IO   120mth IO
                                          --------   --------   --------   --------   ---------

ARM - 6 Month
ARM - 1 Year/6 Month                            -          -          -        -            -
ARM - 2 Year/6 Month                            -          -          -        -            -
ARM - 3 Year/6 Month                            -          -          -        -            -
ARM - 5 Year/6 Month                            -          -          -        -            -
ARM - 10 Year/6 Month
ARM - 10 Year/1 Year
ARM - 2 Year/6 Month - Balloon - 30/40          -          -          -        -            -
ARM - 3 Year/6 Month - Balloon - 30/40          -          -          -        -            -
ARM - 2 Year/6 Month - Balloon - 30/50          -          -          -        -            -
ARM - 10 Year/6 Month - Balloon - 30/40
ARM - 10 Year/1 Year - Balloon - 30/40
Interest Only Arm - 2 Year/6 Month           0.33          -      99.53        -         0.14
Interest Only Arm - 3 Year/6 Month              -       2.77      96.83        -         0.40
Interest Only Arm - 5 Year/6 Month              -          -      74.82        -        25.18
Interest Only Arm - 10 Year/1 Year
Interest Only Arm - 10 Year/6 Month
Dual Amort - 10/40 - 2 Year/6 Month             -          -          -        -            -
Fixed                                           -          -       4.07        -         0.30
                                           ------     ------     ------        -        -----
Total:                                       0.05       0.08      19.21        -         0.13
                                           ======     ======     ======        =        =====


2. By Original IO Term                    please use more rows if there are
                                          other type of IO products









                                          No. of Mortgage Loans   Principal Balance   % of Principal Balance   Wt. Avg. Gross Coupon
                                          ---------------------   -----------------   ----------------------   ---------------------

None                                              3,676              672,426,295               80.54                    8.626
24 months                                             2                  431,400                0.05                    7.225
36 months                                             3                  639,500                0.08                    7.938
60 months                                           521              160,349,981               19.21                    7.764
84 months
120 months                                            5                1,087,125                0.13                    7.638


                                                                                       FICO
                                                   ---------------------------------------------------------------------------
                                                    LESS
                                                    THAN
                                                     OR
                                                    EQUAL
                                           % ARM   TO 500   500.1-525   525.1-550   550.1-575   575.1-600    >600     Wt. Avg.
                                          ------   ------   ---------   ---------   ---------   ---------   -------   --------

None                                       84.33    0.29       6.93        7.92        9.36       12.34       63.16      618
24 months                                 100.00       -          -           -           -       51.23       48.77      606
36 months                                 100.00       -          -           -           -           -      100.00      631
60 months                                  97.21       -       0.13           -        0.41        2.89       96.57      659
84 months
120 months                                 69.55       -          -           -           -           -      100.00      643


                                                    Effective Combined LTV (includes silent seconds)
                                          --------------------------------------------------------------------
                                           LESS
                                           THAN
                                            OR
                                          EQUAL
                                          TO 80   80.01-85   85.01-90   90.01-95   95.01-100   >100   Wt. Avg.
                                          -----   --------   --------   --------   ---------   ----   --------

None                                      38.91     10.63      11.88       6.23       32.35      -      85.55
24 months                                 51.23         -          -          -       48.77      -      89.21
36 months                                 30.57         -          -          -       69.43      -      91.16
60 months                                 19.55      7.35      10.70       7.62       54.77      -      92.15
84 months
120 months                                59.88         -      14.48      17.17        8.46      -      85.70


                                                       Debt-to-Income Ratio                   Documentation
                                          ----------------------------------------------   ------------------
                                           LESS
                                           THAN
                                            OR
                                          EQUAL
                                          TO 45    45.01-50   50.01-55    >55   Wt. Avg.   % Full   % Limited   % Refinancing
                                          ------   --------   --------   ----   --------   ------   ---------   -------------

None                                       54.63     34.69       9.73    0.95     42.67     41.93      3.98         61.03
24 months                                 100.00         -          -       -     29.07     51.23         -         51.23
36 months                                 100.00         -          -       -     39.93     35.65         -         64.35
60 months                                  54.89     38.87       5.84    0.40     43.32     37.04      5.77         41.36
84 months
120 months                                 82.83     17.17         -       -      41.93     62.10         -         44.93






                                                       Owner Occupancy
                                          ----------------------------------------
                                          % Owner Occupied   % Investor Properties
                                          ----------------   ---------------------

None                                            91.27                 7.12
24 months                                      100.00                    -
36 months                                      100.00                    -
60 months                                       97.88                 1.11
84 months
120 months                                      82.83                    -






                                                           IO Loan Distribution
                                          -----------------------------------------------------
                                          24mth IO   36mth IO   60mth IO   84mth IO   120mth IO
                                          --------   --------   --------   --------   ---------

None                                            -          -          -        -            -
24 months                                  100.00          -          -        -            -
36 months                                       -     100.00          -        -            -
60 months                                       -          -     100.00        -            -
84 months
120 months                                      -          -          -        -       100.00


3. By Occupancy Status







                      No. of Mortgage Loans   Principal Balance   % of Principal Balance   Wt. Avg. Gross Coupon    % ARM
                      ---------------------   -----------------   ----------------------   ---------------------   ------

Owner Occupied                3,860              772,614,335               92.54                    8.414           86.50
2nd Homes                        53               12,666,712                1.52                    8.902           97.66
Investor Properties             294               49,653,254                5.95                    9.026           88.75


                                                           FICO
                      ------------------------------------------------------------------------------
                      Less than                                                   Greater
                       or Equal                                                     than
                        to 500    500.1-525   525.1-550   550.1-575   575.1-600     600     Wt. Avg.
                      ---------   ---------   ---------   ---------   ---------   -------   --------

Owner Occupied           0.26        5.93        6.78        7.98       10.65      68.40       624
2nd Homes                  --        1.89          --        5.12        7.87      85.11       652
Investor Properties        --        1.47        1.77        2.71        9.10      84.95       652


                                    Effective Combined LTV (includes silent seconds)
                      ---------------------------------------------------------------------------
                      Less than                                                Greater
                       or Equal                                                  than
                        to 80     80.01-85   85.01-90   90.01-95   95.01-100     100     Wt. Avg.
                      ---------   --------   --------   --------   ---------   -------   --------

Owner Occupied          35.13        9.52      10.72       5.70      38.92          --     87.06
2nd Homes               27.82        4.17      14.26      16.72      37.04          --     90.21
Investor Properties     38.53       18.47      25.33      16.30       1.38          --     82.28


                                      Debt-to-Income Ratio                      Documentation
                      ----------------------------------------------------   ------------------
                      Less than                         Greater
                       or Equal                           than
                        to 45     45.01-50   50.01-55     >55     Wt. Avg.   % Full   % Limited   % Refinancing
                      ---------   --------   --------   -------   --------   ------   ---------   -------------

Owner Occupied          54.64       35.81       8.70      0.85      42.96     41.50      4.13         57.70
2nd Homes               40.34       43.55      15.19      0.91      43.72     34.62        --         30.46
Investor Properties     60.57       27.28      11.38      0.76      39.87     35.11      8.25         56.68




                                   Owner Occupancy                                IO Loan Distribution
                      ----------------------------------------   -----------------------------------------------------
                      % Owner Occupied   % Investor Properties   24mth IO   36mth IO   60mth IO   84mth IO   120mth IO
                      ----------------   ---------------------   --------   --------   --------   --------   ---------

Owner Occupied             100.00                    --            0.06       0.08       20.31       --         0.12
2nd Homes                      --                    --              --         --       12.76       --         1.47
Investor Properties            --                100.00              --         --        3.59       --           --


4. By Documentation







                     No. of Mortgage Loans   Principal Balance   % of Principal Balance   Wt. Avg. Gross Coupon    % ARM
                     ---------------------   -----------------   ----------------------   ---------------------   ------

Full Doc                     1,897              342,451,104               41.02                   8.246            83.90
Limited Doc                    173               35,981,758                4.31                   8.300            85.76
Stated Doc                   2,137              456,501,438               54.68                   8.630            89.06
No Ratio
No Income No Asset
No Documentation


                                                         FICO
                     ------------------------------------------------------------------------------
                     Less than                                                   Greater
                      or Equal                                                     than
                       to 500    500.1-525   525.1-550   550.1-575   575.1-600     600     Wt. Avg.
                     ---------   ---------   ---------   ---------   ---------   -------   --------

Full Doc                0.49        9.24        8.11       10.53       14.01      57.63      607
Limited Doc             0.36        6.20        3.53        9.90        9.81      70.19      619
Stated Doc              0.04        2.83        5.30        5.26        7.96      78.61      641
No Ratio
No Income No Asset
No Documentation


                                   Effective Combined LTV (includes silent seconds)
                     ---------------------------------------------------------------------------
                     Less than                                                Greater
                      or Equal                                                 than
                       to 80     80.01-85   85.01-90   90.01-95   95.01-100     100     Wt. Avg.
                     ---------   --------   --------   --------   ---------   -------   --------

Full Doc               37.68       11.99      12.83      8.08       29.42        --       85.23
Limited Doc            28.33       12.25      13.82      5.65       39.94        --       88.83
Stated Doc             33.92        8.28      10.58      5.38       41.84        --       87.86
No Ratio
No Income No Asset
No Documentation


                                     Debt-to-Income Ratio                      Documentation
                     ----------------------------------------------------   ------------------
                     Less than                         Greater
                      or Equal                           than
                       to 45     45.01-50   50.01-55     55      Wt. Avg.   % Full   % Limited   % Refinancing
                     ---------   --------   --------   -------   --------   ------   ---------   -------------

Full Doc               54.02       31.36      13.32      1.30      42.19    100.00         --        68.84
Limited Doc            59.93       33.05       6.72      0.30      39.66        --     100.00        53.98
Stated Doc             54.94       38.66       5.86      0.54      43.49        --         --        48.77
No Ratio
No Income No Asset
No Documentation




                                  Owner Occupancy                                IO Loan Distribution
                     ----------------------------------------   -----------------------------------------------------
                     % Owner Occupied   % Investor Properties   24mth IO   36mth IO   60mth IO   84mth IO   120mth IO
                     ----------------   ---------------------   --------   --------   --------   --------   ---------

Full Doc                   93.63                 5.09             0.06       0.07       17.34       --         0.20
Limited Doc                88.61                11.39               --         --       25.71       --           --
Stated Doc                 92.03                 6.16             0.05       0.09       20.09       --         0.09
No Ratio
No Income No Asset
No Documentation


5. Debt-to-Income Ratio Distribution







                 No. of Mortgage Loans   Principal Balance   % of Principal Balance   Wt. Avg. Gross Coupon
                 ---------------------   -----------------   ----------------------   ---------------------

<=30                       409               64,801,458                7.76                    8.528
30.01-35.00                319               55,348,836                6.63                    8.476
35.01-40.00                574              104,558,477               12.52                    8.412
40.01-45.00              1,119              232,650,008               27.86                    8.425
45.01-50.00              1,392              295,759,293               35.42                    8.489
50.01-55.00                368               74,787,971                8.96                    8.473
55.01-60.00                 26                7,028,257                0.84                    8.008
>60.00
Wt. Avg. DTI =           42.79


                                                                FICO
                          -------------------------------------------------------------------------------
                          Less than                                                    Greater
                           or Equal                                                     than
                  % ARM     to 500    500.1-525   525.1-550   550.1-575   575.1-600      600     Wt. Avg.
                 ------   ---------   ---------   ---------   ---------   ---------   --------   --------

<=30              80.70      0.20        9.41        5.93        8.06       12.63       63.77       620
30.01-35.00       86.88        --        4.17       10.44       11.08       12.76       61.54       615
35.01-40.00       85.26      0.29        4.69        8.73        6.83        9.26       70.19       623
40.01-45.00       87.16      0.18        4.70        5.99        7.81        9.31       72.00       634
45.01-50.00       88.04      0.34        4.66        5.02        6.56       10.56       72.87       629
50.01-55.00       87.54      0.17       10.58        7.11        9.80       13.07       59.27       609
55.01-60.00       93.57        --       12.46        5.43        2.93        3.30       75.88       625
>60.00
Wt. Avg. DTI =


                               Effective Combined LTV (includes silent seconds)
                 ---------------------------------------------------------------------------
                 Less than                                                Greater
                  or Equal                                                  than
                   to 80     80.01-85   85.01-90   90.01-95   95.01-100     100     Wt. Avg.
                 ---------   --------   --------   --------   ---------   -------   --------

<=30               45.04       11.66      10.75      10.19      22.36       --        82.86
30.01-35.00        49.92       10.57      16.64       3.87      19.00       --        80.86
35.01-40.00        40.12       11.41      11.64       3.97      32.85       --        85.58
40.01-45.00        32.12       10.81       9.97       5.90      41.20       --        87.77
45.01-50.00        29.41        9.14      11.37       7.68      42.40       --        88.94
50.01-55.00        40.95        7.71      14.77       6.61      29.97       --        84.90
55.01-60.00        42.00          --      14.06         --      43.93       --        88.33
>60.00
Wt. Avg. DTI =


                                 Debt-to-Income Ratio                      Documentation
                 ----------------------------------------------------   ------------------
                 Less than                         Greater
                  or Equal                           than
                   to 45     45.01-50   50.01-55      55     Wt. Avg.   % Full   % Limited   % Refinancing
                 ---------   --------   --------   -------   --------   ------   ---------   -------------

<=30               100.00         --         --         --     23.47     57.28      8.32         66.55
30.01-35.00        100.00         --         --         --     32.76     46.45      8.29         69.15
35.01-40.00        100.00         --         --         --     37.74     46.77      4.07         60.20
40.01-45.00        100.00         --         --         --     42.78     31.49      3.15         52.74
45.01-50.00            --     100.00         --         --     47.69     36.31      4.02         53.90
50.01-55.00            --         --     100.00         --     52.26     60.99      3.23         63.37
55.01-60.00            --         --         --     100.00     57.78     63.33      1.53         56.31
>60.00
Wt. Avg. DTI =




                              Owner Occupancy                                IO Loan Distribution
                 ----------------------------------------   -----------------------------------------------------
                 % Owner Occupied   % Investor Properties   24mth IO   36mth IO   60mth IO   84mth IO   120mth IO
                 ----------------   ---------------------   --------   --------   --------   --------   ---------

<=30                   84.44                13.44             0.34         --       11.23       --         0.49
30.01-35.00            90.47                 8.89               --       0.35       15.73       --           --
35.01-40.00            91.58                 6.51             0.20         --       20.93       --         0.32
40.01-45.00            95.26                 4.14               --       0.19       21.55       --         0.11
45.01-50.00            93.55                 4.58               --         --       21.08       --         0.06
50.01-55.00            89.87                 7.56               --         --       12.53       --           --
55.01-60.00            92.97                 5.38               --         --        9.11       --           --
>60.00
Wt. Avg. DTI =


6. Silent Seconds







                                      No. of Mortgage Loans   Principal Balance   % of Principal Balance   Wt. Avg. Gross Coupon
                                      ---------------------   -----------------   ----------------------   ---------------------

Yes                                           1,217              289,707,200              34.70                    8.011
Effective Combined LTV (taking into
account the silent seconds) =                                                             99.41


                                                                                   FICO
                                              ------------------------------------------------------------------------------
                                              Less than                                                   Greater
                                               or Equal                                                    than
                                      % ARM     to 500    500.1-525   525.1-550   550.1-575   575.1-600     600     Wt. Avg.
                                      -----   ---------   ---------   ---------   ---------   ---------   -------   --------

Yes                                   96.66      --          0.36        0.74        1.15        4.41      93.35       658
Effective Combined LTV (taking into
account the silent seconds) =


                                                    Effective Combined LTV (includes silent seconds)
                                      ---------------------------------------------------------------------------
                                      Less than                                                Greater
                                       or Equal                                                 than
                                        to 80     80.01-85   85.01-90   90.01-95   95.01-100     100     Wt. Avg.
                                      ---------   --------   --------   --------   ---------   -------   --------

Yes                                      0.22       0.20       1.63       5.53       92.42        --       99.41
Effective Combined LTV (taking into
account the silent seconds) =


                                                       Debt-to-Income Ratio                     Documentation
                                      ----------------------------------------------------   ------------------
                                      Less than                         Greater
                                       or Equal                           than
                                        to 45     45.01-50   50.01-55      55     Wt. Avg.   % Full   % Limited   % Refinancing
                                      ---------   --------   --------   -------   --------   ------   ---------   -------------

Yes                                     50.44       40.84      7.74       0.98      43.90     32.04      4.33         18.39
Effective Combined LTV (taking into
account the silent seconds) =




                                                   Owner Occupancy
                                      ----------------------------------------
                                      % Owner Occupied   % Investor Properties
                                      ----------------   ---------------------

Yes                                         97.54                 0.68
Effective Combined LTV (taking into
account the silent seconds) =




                                                      IO Loan Distribution
                                      -----------------------------------------------------
                                      24mth IO   36mth IO   60mth IO   84mth IO   120mth IO
                                      --------   --------   --------   --------   ---------

Yes                                     0.07       0.15       32.69       --         0.10
Effective Combined LTV (taking into
account the silent seconds) =


7. Credit Grades

please use originator's grades



                                                                                                 FICO
                                                                  ------------------------------------------------------------------
               No. of                  % of     Wt. Avg.          Less than
              Mortgage   Principal   Principal    Gross            or Equal                                                     Wt.
                Loans     Balance     Balance    Coupon    % ARM    to 500   500.1-525  525.1-550  550.1-575  575.1-600   >600  Avg.
              --------  -----------  ---------  --------  ------  ---------  ---------  ---------  ---------  ---------  -----  ----

NG                  49    7,281,637       0.87     8.641   87.95         --      12.98      16.65      12.04      13.11   45.21  592
A                  731  141,780,607      16.98     8.243   84.54       0.03       6.08       4.40       4.24       5.71   79.55  653
Ax                   8    1,588,238       0.19     9.610  100.00       6.92       4.73         --         --      25.45   62.90  616
A1                  33    5,306,841       0.64     8.651   68.57         --         --       2.73         --      15.09   82.19  669
AA                 653  164,329,245      19.68     8.097   92.88         --       1.31       2.76       5.71       8.99   81.23  637
AA 80/20             2      103,978       0.01    11.448    0.00         --         --         --         --         --  100.00  629
AAA                 66   16,566,063       1.98     7.798  100.00         --         --         --         --         --  100.00  708
AA+                  9    2,237,814       0.27     8.034   65.97         --         --         --         --         --  100.00  659
AX                  22    3,162,812       0.38     8.899   84.01         --       5.73         --      21.64      23.76   48.87  604
A-                 728  126,354,520      15.13     8.486   81.51         --       3.37       2.39       1.58       1.20   91.47  629
A+                 811  173,510,269      20.78     8.373   84.08         --       2.37       3.25       5.35       7.85   81.17  643
B                  339   62,526,285       7.49     8.934   88.95       0.25      10.14       8.36       9.35      64.74    7.16  576
B-                 177   28,883,582       3.46     8.920   89.12         --         --       3.80      91.92       4.02    0.26  563
B+                 200   36,063,252       4.32     8.472   86.36       0.08         --         --         --       5.18   94.74  609
C                  181   31,482,279       3.77     9.564   91.67       5.23      54.74      13.19       6.69       6.94   13.22  540
C-                  10    1,751,071       0.21    10.371  100.00         --      35.39      31.33       9.98      23.30      --  545
C+                 128   21,364,772       2.56     9.455   90.20         --       4.10      95.59       0.31         --      --  537
D                   10    1,877,880       0.22    10.593   67.11         --      23.37      28.85      13.14      16.02   18.61  560
Tier 1              38    6,082,442       0.73     8.258   79.23         --         --         --         --       8.23   91.77  654
Tier 2               5    1,529,042       0.18     8.853   93.50         --      19.82      26.12      11.11         --   42.95  570
Tier 3               2      210,259       0.03     8.836  100.00         --      53.13         --         --         --   46.87  554
Tier 4               5      941,414       0.11     9.279  100.00         --      58.03       5.30      25.02         --   11.64  541
                  ----  -----------     ------    ------  ------       ----      -----      -----      -----      -----  ------  ---
Total:            4207  834934301.2     100.00     8.458   86.80       0.24       5.61       6.37       7.62      10.52   69.64  626
                  ====  ===========     ======    ======  ======       ====      =====      =====      =====      =====  ======  ===


                       Effective Combined LTV (includes silent seconds)                        Debt-to-Income Ratio
              ------------------------------------------------------------------  ---------------------------------------------
              Less than                                                           Less than
               or Equal                                                            or Equal
                to 80    80.01-85  85.01-90  90.01-95  95.01-100  >100  Wt. Avg.    to 45    45.01-50  50.01-55   >55  Wt. Avg.
              ---------  --------  --------  --------  ---------  ----  --------  ---------  --------  --------  ----  --------

NG                59.35      5.12      5.33      2.40      27.80    --     83.94      50.77     34.51     12.03  2.69     43.70
A                 28.93     13.37      5.64      6.34      45.73    --     88.81      58.73     34.83      5.80  0.64     42.43
Ax                31.72        --     50.58        --      17.70    --     84.88      15.65     84.35        --    --     45.07
A1                23.41        --     21.70      3.62      51.27    --     90.65      45.20     44.66     10.14    --     45.19
AA                25.72      7.25     16.56      9.89      40.57    --     89.13      52.86     37.98      8.10  1.07     42.80
AA 80/20             --        --        --        --     100.00    --    100.00      28.09     71.91        --    --     43.47
AAA                1.36      4.34      4.92      6.38      83.00    --     97.91      66.34     25.22      8.44    --     41.61
AA+               22.61     16.63     38.69     22.07         --    --     86.01      48.50     41.85        --  9.65     45.92
AX                28.55     22.09     13.16      9.24      26.95    --     87.52      80.72     19.28        --    --     37.05
A-                28.29      7.36      7.00      5.59      51.75    --     90.28      42.62     46.14     11.08  0.15     44.27
A+                29.72     10.48     14.13      8.17      37.50    --     88.16      65.68     26.62      5.98  1.72     42.07
B                 61.58     12.61     13.88      4.15       7.78    --     78.76      54.38     34.56     10.83  0.24     42.41
B-                52.75     18.18     20.67      1.77       6.63    --     79.73      51.34     29.11     19.55     -     42.88
B+                28.12      9.65     19.92      5.43      36.88    --     87.82      45.54     41.91     11.53  1.02     42.90
C                 93.72      4.55      1.06      0.44       0.23    --     70.90      45.44     36.33     18.00  0.23     42.51
C-                93.36      6.64        --        --         --    --     66.52      66.62      6.64     26.74    --     41.22
C+                74.68     19.03      3.37      0.38       2.54    --     74.69      54.44     32.19     12.50  0.87     43.34
D                100.00        --        --        --         --    --     62.85      69.58     30.42        --    --     41.63
Tier 1            16.09      8.52     11.03      4.85      59.50    --     91.31      56.81     40.58      2.60    --     43.85
Tier 2            57.05        --     36.45        --       6.50    --     84.06      32.62     36.45     30.93    --     47.29
Tier 3            53.13        --     46.87        --         --    --     73.89     100.00        --        --    --     24.69
Tier 4           100.00        --        --        --         --    --     68.04      62.59     32.11      5.30    --     41.60
                 ------     -----     -----     -----     ------   ---    ------     ------     -----     -----  ----     -----
Total:            35.22      9.97     11.64      6.50      36.66    --     86.82      54.78     35.42      8.96  0.84     42.79
                 ======     =====     =====     =====     ======   ===    ======     ======     =====     =====  ====     =====



                                                   Owner Occupancy
                Documentation                   --------------------                 IO Loan Distribution
              -----------------                  % Owner  % Investor  ------------------------------------------------
              % Full  % Limited  % Refinancing  Occupied  Properties  24mth IO  36mth IO  60mth IO  84mth IO  120mth IO
              ------  ---------  -------------  --------  ----------  --------  --------  --------  --------  ---------

NG             36.60       8.55          54.87     91.52        7.08        --        --     16.43        --       4.39
A              26.40       6.45          48.28     92.10        7.25        --        --     26.22        --         --
Ax             34.73         --          45.66     29.35       31.91        --        --        --        --         --
A1             31.49       4.19          38.33     92.90        7.10        --        --     35.95        --         --
AA             45.04       3.29          53.17     89.64        7.69      0.13      0.14     25.08        --         --
AA 80/20       28.09         --             --    100.00          --        --        --        --        --         --
AAA            32.57         --          10.51     83.34        0.60        --        --     34.69        --         --
AA+            21.96         --         100.00    100.00          --        --        --     12.31        --         --
AX             62.24         --          59.05     85.80        6.38        --        --      8.67        --         --
A-             30.05       3.42          46.06     95.72        4.11      0.17        --     19.37        --         --
A+             43.93       2.33          49.66     90.34        8.06        --        --     21.75        --       0.44
B              53.24       5.19          86.92     93.42        6.33        --        --      1.70        --         --
B-             62.48       3.82          88.07     99.23        0.77        --        --        --        --         --
B+             41.03      11.65          74.01     98.63        1.37        --      1.14     20.67        --         --
C              70.17       3.94          95.05     96.38        1.70        --        --        --        --         --
C-            100.00         --         100.00    100.00          --        --        --        --        --         --
C+             49.39       2.47          94.18     98.49        1.51        --        --        --        --         --
D              78.21         --         100.00    100.00          --        --        --        --        --         --
Tier 1         25.31      31.18          37.57     94.90        5.10        --        --     30.12        --         --
Tier 2         19.82         --          93.50    100.00          --        --        --        --        --         --
Tier 3        100.00         --         100.00    100.00          --        --        --        --        --         --
Tier 4            --         --         100.00    100.00          --        --        --        --        --         --
              ------      -----         ------    ------       -----      ----      ----     -----       ---       ----
Total:         41.02       4.31          57.23     92.54        5.95      0.05      0.08     19.21                 0.13
              ======      =====         ======    ======       =====      ====      ====     =====       ===       ====


8. Others



                                                                                                FICO
                                                                -------------------------------------------------------------------
               No. of                 % of     Wt. Avg.         Less than
              Mortgage   Principal  Principal    Gross           or Equal                                                      Wt.
                Loans     Balance    Balance    Coupon   % ARM    to 500   500.1-525  525.1-550  550.1-575  575.1-600   >600   Avg.
              --------  ----------  ---------  --------  -----  ---------  ---------  ---------  ---------  ---------  -----  -----

Manufactured
   Housing
2nd Lien           460  29,173,789       3.49    11.483   0.00       0.25         --         --       0.40       3.03  96.32    657


                       Effective Combined LTV (includes silent seconds)                        Debt-to-Income Ratio
              ------------------------------------------------------------------  ---------------------------------------------
              Less than                                                           Less than
               or Equal                                                            or Equal
                to 80    80.01-85  85.01-90  90.01-95  95.01-100  >100  Wt. Avg.    to 45    45.01-50  50.01-55   >55  Wt. Avg.
              ---------  --------  --------  --------  ---------  ----  --------  ---------  --------  --------  ----  --------

Manufactured
   Housing
2nd Lien           1.02        --      0.52      2.16      96.29    --     99.52      50.42     42.30      6.47  0.81     43.71



                                                   Owner Occupancy
                Documentation                   --------------------                 IO Loan Distribution
              -----------------                  % Owner  % Investor  ------------------------------------------------
              % Full  % Limited  % Refinancing  Occupied  Properties  24mth IO  36mth IO  60mth IO  84mth IO  120mth IO
              ------  ---------  -------------  --------  ----------  --------  --------  --------  --------  ---------

Manufactured
   Housing
2nd Lien       22.77       6.70          12.18     99.38        0.12        --        --        --        --         --


9. Loss Coverage Levels

these are not the credit enhancement levels found in termsheet



            S&P LEVELS output for different ratings   Moody's Loss Coverage levels for different ratings
            ---------------------------------------   --------------------------------------------------

Aaa/AAA
Aa1/AA+
Aa2/AA
Aa3/AA-
A1/A+
A2/A
A3/A-
Baa1/BBB+
Baa2/BBB
Baa3/BBB-
Ba2/BB
B2/B




TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS
FOR THIS OFFERING OF ASSET-BACKED SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



SUBPRIME TEMPLATE

ORIGINAL LOAN BALANCE

Avg Balance   198,738.59
< $50,000           1.02%
50-100              6.95%
100-150            12.60%
150-200            14.19%
200-250            14.46%
250-300            10.75%
300-350             9.87%
350-400             7.01%
400-600            17.84%
600-800             4.75%
800-1m              0.44%
>=1m+               0.12%

LTVS AND CLTVS

           LTV     CLTV
           (%)     (%)
          -----   -----
<50%       5.83    2.33
50-60%     2.42    2.42
60-70%     5.84    5.84
70-75%     5.23    5.27
75-80%     9.52    9.52
80-85%    46.42   46.42
85-90%     9.91    9.93
90-95%     9.89    9.91
95-100%    3.95    4.17
100+%      0.99    4.18

FICO

Wtd. Avg.      626
NA
<500
500-550     12.22%
551-600     18.14%
601-625     17.88%
626-650     19.03%
651-700     22.92%
701-750      7.14%
>750         2.68%

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
market counterparties or intermediate customers (as defined in the UK Financial
Services Authority's rules). In Japan, this communication is directed to the
sophisticated institutional investors as defined under the Foreign Broker Dealer
Law of Japan and the ordinances thereunder. The trademarks and service marks
contained herein are the property of their respective owners.

This material may not be sold or redistributed without the prior written consent
of Morgan Stanley.

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
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                              MORGAN STANLEY
                         IXIS 2006-HE3 TERMSHEET
                                 IO LOANS
                               531 RECORDS
                           BALANCE: 162,508,006

TABLE OF CONTENTS

1. Summary Statistics
2. Originator
3. Product Type
4. Range of Gross Interest Rates (%)
5. Range of Cut-off Date Principal Balances($)
6. Stated Original Term (months)
7. Range of Stated Remaining Terms (months)
8. Range of Combined Original SS LTV Ratios (%)
9. Range of Gross Margins (%)
10. Range of Minimum Mortgage Rates (%)
11. Range of Maximum Mortgage Rates (%)
12. Initial Periodic Cap (%)
13. Subsequent Periodic Cap (%)
14. Months to Next Rate Adjustment
15. Geographic Distribution of Mortgaged Properties
16. Occupancy
17. Property Type
18. Loan Purpose
19. Documentation Level
20. Credit Score
21. Prepayment Penalty Term
22. Lien Position
23. Interest Only Term

1. SUMMARY STATISTICS

Number of Mortgage Loans: 531
Aggregate Principal Balance ($): 162,508,006
Weighted Average Current Mortgage Rate (%): 7.762
Non-Zero Weighted Average Margin (%): 6.280
Non-Zero Weighted Average Maximum Rate (%): 14.508
Weighted Average Stated Original Term (months): 360
Weighted Average Stated Remaining Term (months): 357
Weighted Average Combined Original LTV (%): 80.60
% First Liens: 100.00
% Owner Occupied: 97.79
% Purchase: 58.50
% Full Doc: 37.24
Non-Zero Weighted Average Credit Score: 659

2. ORIGINATOR



                                            % OF
                                          MORTGAGE
                                          POOL BY                        WEIGHTED
                             AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                   NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                     OF         DATE        DATE     GROSS    REMAINING  ORIGINAL  AVERAGE
                  MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM       SS       FICO
ORIGINATOR         LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
----------        --------  -----------  ---------  --------  ---------  --------  --------

First NLC              212   61,420,801      37.80     7.898        357     92.53       664
New Century            107   31,578,149      19.43     7.566        358     93.96       651
Encore                  37   13,880,070       8.54     7.604        355     89.11       665
Accredited              49   13,082,792       8.05     7.589        358     92.50       671
Master Financial        32   11,908,630       7.33     7.740        355     94.19       663
Rose Mortgage           19    6,950,000       4.28     7.702        357     81.61       637
First Banc              19    5,514,935       3.39     7.688        354     90.66       633
First Horizon           16    5,181,741       3.19     8.844        357     93.44       664
Lime Financial          12    4,453,000       2.74     7.554        355     98.24       657
Mandalay                 7    1,907,952       1.17     7.687        354     85.38       673
Chapel                   6    1,885,075       1.16     7.535        351    100.00       652
Lenders Direct           5    1,831,996       1.13     7.821        353     96.61       648
Funding America          4    1,241,600       0.76     7.255        355     84.32       664
Quick Loan               3      933,500       0.57     7.240        357     77.18       642
Flex Point               3      737,764       0.45     8.152        355     72.49       607
                       ---  -----------     ------     -----        ---     -----       ---
TOTAL:                 531  162,508,006     100.00     7.762        357     92.10       659
                       ===  ===========     ======     =====        ===     =====       ===


3. PRODUCT TYPE



                                                                               % OF
                                                                             MORTGAGE
                                                                              POOL BY                        WEIGHTED
                                                                 AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                                       NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE   COMBINED  WEIGHTED
                                                         OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                                                      MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
PRODUCT TYPE                                           LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
------------                                          --------  -----------  ---------  --------  ---------  --------  --------

Interest Only ARM - 2 Year/6 Month - 24 mo. IO term          2      431,400       0.27     7.225        358     89.21       606
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term          3      639,500       0.39     7.938        358     91.16       631
Interest Only Fixed - 30 Year - 60 mo. IO term              14    4,480,985       2.76     7.527        357     81.52       657
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term        421  132,088,152      81.28     7.780        356     92.82       658
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term         81   22,362,444      13.76     7.772        357     91.19       666
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term          5    1,418,400       0.87     6.921        358     78.64       686
Interest Only Fixed - 30 Year - 120 mo. IO term              1      331,000       0.20     6.750        357     79.95       638
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term         1      186,686       0.11     8.000        358     95.00       641
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term         1       92,000       0.06     7.250        359    100.00       652
Interest Only ARM - 5 Year/6 Month - 120 mo. IO term         2      477,439       0.29     8.188        357     83.29       646
                                                           ---  -----------     ------     -----        ---     -----       ---
TOTAL:                                                     531  162,508,006     100.00     7.762        357     92.10       659
                                                           ===  ===========     ======     =====        ===     =====       ===


4. RANGE OF GROSS INTEREST RATES (%)



                                                            % OF
                                                           MORTGAGE
                                                           POOL BY                        WEIGHTED
                                              AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                    NUMBER     CUT-OFF     CUT-OFF    AVERAGE   AVERAGE   COMBINED  WEIGHTED
                                      OF         DATE       DATE      GROSS    REMAINING  ORIGINAL  AVERAGE
                                   MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM       SS       FICO
RANGE OF GROSS INTEREST RATES (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
---------------------------------  --------  -----------  ---------  --------  ---------  --------  ---------

5.000 - 5.999                             2      572,938       0.35     5.804        358     74.79       673
6.000 - 6.999                            85   25,390,729      15.62     6.734        357     88.53       663
7.000 - 7.999                           265   85,140,149      52.39     7.538        356     92.55       660
8.000 - 8.999                           137   38,660,074      23.79     8.421        357     93.33       657
9.000 - 9.999                            39   11,629,803       7.16     9.326        357     93.22       650
10.000 - 10.999                           3    1,114,313       0.69    10.145        358     93.51       646
                                        ---  -----------     ------    ------        ---     -----       ---
TOTAL:                                  531  162,508,006     100.00     7.762        357     92.10       659
                                        ===  ===========     ======    ======        ===     =====       ===


Minimum: 5.700
Maximum: 10.965
Weighted Average: 7.762

5. RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)



                                                                        % OF
                                                                      MORTGAGE
                                                                      POOL BY                        WEIGHTED
                                                         AGGREGATE   AGGREGATE  WEIGHTED  WEIGHTED    AVERAGE
                                               NUMBER     CUT-OFF     CUT-OFF   AVERAGE   AVERAGE    COMBINED  WEIGHTED
                                                 OF         DATE        DATE      GROSS   REMAINING  ORIGINAL   AVERAGE
                                              MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
RANGE OF CUT-OFF DATE PRINCIPAL BALANCES ($)   LOANS    BALANCE ($)   BALANCE   RATE (%)  (MONTHS)      LTV     SCORE
--------------------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

50,000.01 - 75,000.00                                1       72,800       0.04     9.590        357    100.00       630
75,000.01 - 100,000.00                              10      878,879       0.54     7.859        357     93.46       627
100,000.01 - 125,000.00                             16    1,804,208       1.11     8.123        357     81.48       660
125,000.01 - 150,000.00                             20    2,755,396       1.70     7.876        356     94.86       658
150,000.01 - 175,000.00                             25    4,068,308       2.50     7.825        357     93.95       672
175,000.01 - 200,000.00                             57   10,629,953       6.54     7.965        357     92.80       663
200,000.01 - 225,000.00                             51   10,935,227       6.73     7.805        357     88.66       650
225,000.01 - 250,000.00                             49   11,602,322       7.14     7.736        357     91.70       648
250,000.01 - 275,000.00                             40   10,544,077       6.49     7.794        357     94.07       663
275,000.01 - 300,000.00                             35   10,052,404       6.19     7.531        357     88.56       645
300,000.01 - 325,000.00                             22    6,868,380       4.23     7.480        357     89.81       667
325,000.01 - 350,000.00                             26    8,802,686       5.42     7.845        356     92.52       657
350,000.01 - 375,000.00                             30   10,848,988       6.68     7.877        357     93.64       663
375,000.01 - 400,000.00                             27   10,507,241       6.47     7.696        357     95.89       673
400,000.01 - 425,000.00                             21    8,648,929       5.32     7.662        356     93.66       660
425,000.01 - 450,000.00                             16    7,033,524       4.33     7.660        356     95.78       640
450,000.01 - 475,000.00                             11    5,076,400       3.12     7.613        357     92.65       670
475,000.01 - 500,000.00                             24   11,743,210       7.23     7.769        356     91.79       659
500,000.01 - 750,000.00                             46   26,225,078      16.14     7.744        356     91.32       659
750,000.01 - 1,000,000.00                            4    3,409,996       2.10     8.239        354     88.92       688
                                                   ---  -----------     ------     -----        ---     -----       ---
TOTAL:                                             531  162,508,006     100.00     7.762        357     92.10       659
                                                   ===  ===========     ======     =====        ===     =====       ===


Minimum: 72,800
Maximum: 1,000,000
Average: 306,041

6. STATED ORIGINAL TERM (MONTHS)



                                                         % OF
                                                       MORTGAGE
                                                        POOL BY                       WEIGHTED
                                          AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                  OF         DATE       DATE      GROSS    REMAINING  ORIGINAL  AVERAGE
                               MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM       SS       FICO
STATED ORIGINAL TERM (MONTHS)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-----------------------------  --------  -----------  ---------  --------  ---------  --------  --------

360                                 531  162,508,006     100.00     7.762        357     92.10       659
                                    ---  -----------     ------     -----        ---     -----       ---
TOTAL:                              531  162,508,006     100.00     7.762        357     92.10       659
                                    ===  ===========     ======     =====        ===     =====       ===


Minimum: 360
Maximum: 360
Weighted Average: 360

7. RANGE OF STATED REMAINING TERMS (MONTHS)



                                                                    % OF
                                                                  MORTGAGE
                                                                  POOL BY                        WEIGHTED
                                                     AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                           NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                             OF         DATE        DATE      GROSS   REMAINING  ORIGINAL   AVERAGE
                                          MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST     TERM       SS       FICO
RANGE OF STATED REMAINING TERMS (MONTHS)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
----------------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

349 - 360                                      531  162,508,006     100.00     7.762        357     92.10       659
                                               ---  -----------     ------     -----        ---     -----       ---
TOTAL:                                         531  162,508,006     100.00     7.762        357     92.10       659
                                               ===  ===========     ======     =====        ===     =====       ===


Minimum: 350
Maximum: 359
Weighted Average: 357

8. RANGE OF COMBINED ORIGINAL SS LTV RATIOS (%)



                                                                       % OF
                                                                     MORTGAGE
                                                                      POOL BY                        WEIGHTED
                                                         AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                               NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                                 OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                                              MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
RANGE OF COMBINED ORIGINAL SS LTV RATIOS (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
--------------------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

20.01 - 25.00                                        1      120,000       0.07     7.750        358     22.64      619
35.01 - 40.00                                        3      980,000       0.60     7.540        357     39.09      638
40.01 - 45.00                                        1      220,000       0.14     6.300        358     41.90      711
50.01 - 55.00                                        6    1,302,051       0.80     7.568        356     52.05      617
55.01 - 60.00                                        4      690,000       0.42     6.902        357     57.85      623
60.01 - 65.00                                        7    1,753,635       1.08     6.908        357     64.13      647
65.01 - 70.00                                        7    2,156,635       1.33     7.427        357     69.82      626
70.01 - 75.00                                       11    3,722,659       2.29     7.462        357     73.18      630
75.01 - 80.00                                       71   21,473,146      13.21     7.479        357     79.45      660
80.01 - 85.00                                       38   11,792,073       7.26     7.903        357     84.19      644
85.01 - 90.00                                       45   17,316,339      10.66     8.024        356     89.25      639
90.01 - 95.00                                       38   12,409,934       7.64     8.044        357     94.83      666
95.01 - 100.00                                     299   88,571,534      54.50     7.775        357     99.94      667
                                                   ---   ----------     ------     -----        ---     -----      ---
TOTAL:                                             531  162,508,006     100.00     7.762        357     92.10      659
                                                   ===  ===========     ======     =====        ===     =====      ===


Minimum: 22.64
Maximum: 100.00
Weighted Average: 92.10

9. RANGE OF GROSS MARGINS (%)



                                                     % OF
                                                   MORTGAGE
                                                    POOL BY                        WEIGHTED
                                       AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                             NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                               OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                            MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
RANGE OF GROSS MARGINS (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
--------------------------  --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                  15    4,811,985       2.96     7.474        357     81.42       655
<= 3.500                           8    1,956,186       1.20     7.151        358     81.33       668
3.501 - 4.000                      8    2,289,223       1.41     6.944        358     91.44       669
4.001 - 4.500                     10    3,096,596       1.91     7.505        358     95.19       676
4.501 - 5.000                     25    7,106,379       4.37     7.814        357     97.12       682
5.001 - 5.500                     57   20,129,793      12.39     7.585        355     90.93       665
5.501 - 6.000                     77   23,334,920      14.36     7.638        356     90.62       663
6.001 - 6.500                    139   43,001,176      26.46     7.533        357     93.68       650
6.501 - 7.000                     55   16,123,002       9.92     7.704        357     91.15       661
7.001 - 7.500                    106   30,298,114      18.64     8.113        357     92.06       662
7.501 - 8.000                     19    5,841,424       3.59     8.675        356     94.65       647
8.001 - 8.500                     10    3,995,829       2.46     9.066        357     96.61       629
8.501 - 9.000                      2      523,379       0.32     9.580        357     95.87       629
                                 ---  -----------     ------     -----        ---     -----       ---
TOTAL:                           531  162,508,006     100.00     7.762        357     92.10       659
                                 ===  ===========     ======     =====        ===     =====       ===


Non-Zero Minimum: 2.200
Maximum: 9.000
Non-Zero Weighted Average: 6.280

10. RANGE OF MINIMUM MORTGAGE RATES (%)



                                                              % OF
                                                            MORTGAGE
                                                             POOL BY                        WEIGHTED
                                                AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                      NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                        OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                                     MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
RANGE OF MINIMUM MORTGAGE RATES (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-----------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                           15    4,811,985       2.96     7.474        357     81.42       655
5.501 - 6.000                               4    1,294,035       0.80     7.205        354     87.92       646
6.001 - 6.500                              19    6,204,932       3.82     6.373        357     84.74       674
6.501 - 7.000                              71   21,585,871      13.28     6.887        356     90.81       655
7.001 - 7.500                             114   35,085,333      21.59     7.290        356     92.43       658
7.501 - 8.000                             141   45,497,813      28.00     7.801        357     93.22       663
8.001 - 8.500                              79   22,676,987      13.95     8.273        357     93.91       663
8.501 - 9.000                              49   13,537,434       8.33     8.739        357     92.77       649
9.001 - 9.500                              23    7,512,953       4.62     9.200        357     94.73       659
9.501 - 10.000                             14    3,577,063       2.20     9.727        357     91.79       638
10.001 -10.500                              1      620,100       0.38    10.100        358     90.00       606
10.501 - 11.000                             1      103,500       0.06    10.965        358     90.00       675
                                          ---  -----------     ------    ------        ---     -----       ---
TOTAL:                                    531  162,508,006     100.00     7.762        357     92.10       659
                                          ===  ===========     ======    ======        ===     =====       ===


Non-Zero Minimum: 5.700
Maximum: 10.965
Non-Zero Weighted Average: 7.759

11. RANGE OF MAXIMUM MORTGAGE RATES (%)



                                                              % OF
                                                            MORTGAGE
                                                             POOL BY                        WEIGHTED
                                                AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                      NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                        OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                                     MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
RANGE OF MAXIMUM MORTGAGE RATES (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-----------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                           15    4,811,985       2.96     7.474        357     81.42       655
<= 12.500                                  14    5,475,480       3.37     6.769        356     80.96       655
12.501 - 13.000                            27    9,368,688       5.77     7.344        356     90.76       661
13.001 - 13.500                            34   10,506,022       6.46     7.007        356     89.98       661
13.501 - 14.000                            70   20,030,314      12.33     7.118        356     91.04       654
14.001 - 14.500                           101   31,259,393      19.24     7.404        357     93.36       660
14.501 - 15.000                           120   38,407,919      23.63     7.822        356     93.17       663
15.001 - 15.500                            71   19,711,476      12.13     8.288        357     94.47       666
15.501 - 16.000                            43   12,039,123       7.41     8.764        357     93.29       648
16.001 - 16.500                            21    6,846,269       4.21     9.188        356     94.92       660
16.501 - 17.000                            13    3,327,738       2.05     9.726        357     94.81       644
17.001 - 17.500                             1      620,100       0.38    10.100        358     90.00       606
17.501 - 18.000                             1      103,500       0.06    10.965        358     90.00       675
                                          ---  -----------     ------     -----        ---     -----       ---
TOTAL:                                    531  162,508,006     100.00     7.762        357     92.10       659
                                          ===  ===========     ======     =====        ===     =====       ===


Non-Zero Minimum: 11.200
Maximum: 17.965
Non-Zero Weighted Average: 14.508

12. INITIAL PERIODIC CAP (%)



                                                   % OF
                                                 MORTGAGE
                                                  POOL BY                        WEIGHTED
                                     AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                           NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                             OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                          MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
INITIAL PERIODIC CAP (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
------------------------  --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                15    4,811,985       2.96     7.474        357     81.42       655
1                                1      240,000       0.15     6.850        357     77.42       636
1.5                             66   18,723,501      11.52     7.472        357     94.45       656
2                              139   44,657,885      27.48     7.643        357     90.65       656
3                              306   93,318,510      57.42     7.893        356     92.94       662
5                                2      477,439       0.29     8.188        357     83.29       646
6                                2      278,686       0.17     7.752        358     96.65       645
                               ---  -----------     ------     -----        ---     -----       ---
TOTAL:                         531  162,508,006     100.00     7.762        357     92.10       659
                               ===  ===========     ======     =====        ===     =====       ===


Non-Zero Minimum: 1.000
Maximum: 6.000
Non-Zero Weighted Average: 2.547

13. SUBSEQUENT PERIODIC CAP (%)



                                                      % OF
                                                    MORTGAGE
                                                     POOL BY                        WEIGHTED
                                        AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                              NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                             MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
SUBSEQUENT PERIODIC CAP (%)   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
---------------------------  --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                   15    4,811,985       2.96     7.474        357     81.42       655
1                                 155   52,550,308      32.34     7.749        355     91.00       654
1.5                               356  102,862,031      63.30     7.777        357     93.04       661
2                                   5    2,283,682       1.41     8.006        352     97.62       706
                                  ---  -----------     ------     -----        ---     -----       ---
TOTAL:                            531  162,508,006     100.00     7.762        357     92.10       659
                                  ===  ===========     ======     =====        ===     =====       ===


Non-Zero Minimum: 1.000
Maximum: 2.000
Non-Zero Weighted Average: 1.341

14. MONTHS TO NEXT RATE ADJUSTMENT



                                                         % OF
                                                       MORTGAGE
                                                        POOL BY                        WEIGHTED
                                           AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                 NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                   OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                                MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
MONTHS TO NEXT RATE ADJUSTMENT   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

Fixed Rate Loans                      15    4,811,985       2.96     7.474        357     81.42       655
14                                     4    1,847,998       1.14     7.148        350     96.06       742
15                                     9    3,143,018       1.93     8.131        351     94.57       645
16                                     7    2,439,172       1.50     7.939        352     88.79       647
17                                    16    5,314,715       3.27     7.853        353     95.70       636
18                                    16    4,944,068       3.04     7.358        354     95.96       625
19                                    28    9,474,053       5.83     7.584        355     90.13       661
20                                    75   25,058,768      15.42     7.742        356     93.27       654
21                                   110   33,830,828      20.82     7.848        357     91.11       659
22                                   147   43,146,619      26.55     7.816        358     93.55       662
23                                    12    3,507,000       2.16     7.812        359     94.85       667
26                                     1      343,599       0.21     7.350        350     79.45       609
27                                     1      620,450       0.38     8.750        351     99.99       629
28                                     1       91,129       0.06     9.250        352    100.00       628
30                                     1      243,000       0.15     8.000        354     90.00       601
31                                     1      384,000       0.24     8.475        355     94.81       703
32                                     8    2,383,726       1.47     7.717        356     93.85       666
33                                    19    5,498,451       3.38     7.609        357     86.77       649
34                                    49   13,015,038       8.01     7.818        358     92.48       674
35                                     4      514,550       0.32     6.936        359     88.61       679
57                                     3      718,000       0.44     8.110        357     89.50       685
58                                     3    1,056,839       0.65     6.576        358     73.06       672
59                                     1      121,000       0.07     7.875        359     81.21       651
                                     ---  -----------     ------     -----        ---    ------       ---
TOTAL:                               531  162,508,006     100.00     7.762        357     92.10       659
                                     ===  ===========     ======     =====        ===    ======       ===


Non-Zero Minimum: 14
Maximum: 59
Non-Zero Weighted Average: 23

15. GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES



                                                                          % OF
                                                                        MORTGAGE
                                                                         POOL BY                        WEIGHTED
                                                            AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                                                  NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                                                    OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                                                 MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-----------------------------------------------  --------  -----------  ---------  --------  ---------  --------  --------

California                                            238   88,869,828      54.69     7.719        356     93.00       661
Florida                                                81   19,208,898      11.82     7.944        357     90.54       663
Arizona                                                34    7,671,777       4.72     7.985        356     90.01       644
New York                                               17    7,143,948       4.40     7.856        358     88.73       665
Maryland                                               23    6,929,870       4.26     7.617        357     89.30       655
Nevada                                                 25    6,428,958       3.96     7.498        357     93.15       661
Illinois                                               18    4,271,021       2.63     7.901        358     91.61       669
Hawaii                                                  6    3,164,746       1.95     7.767        356     95.29       666
Georgia                                                10    2,238,317       1.38     8.156        357     95.93       657
Rhode Island                                            8    2,176,550       1.34     7.378        358     93.40       631
Virginia                                                7    1,835,150       1.13     7.728        358     94.44       654
New Jersey                                              6    1,792,809       1.10     7.639        357     73.24       637
Massachusetts                                           5    1,612,750       0.99     8.305        357     91.64       630
Washington                                              8    1,525,967       0.94     7.254        357     93.82       652
Colorado                                                8    1,216,549       0.75     7.980        356     97.74       653
Other                                                  37    6,420,867       3.95     7.758        357     92.74       653
                                                      ---  -----------     ------     -----        ---     -----       ---
TOTAL:                                                531  162,508,006     100.00     7.762        357     92.10       659
                                                      ===  ===========     ======     =====        ===     =====       ===


Number of States/District of Columbia Represented: 34

16. OCCUPANCY



                                      % OF
                                    MORTGAGE
                                     POOL BY                        WEIGHTED
                        AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
              NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
             MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
OCCUPANCY     LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
---------    --------  -----------  ---------  --------  ---------  --------  --------

Primary           516  158,921,980      97.79     7.746        357     92.18       658
Second Home         8    1,802,826       1.11     8.564        358     97.46       707
Investment          7    1,783,200       1.10     8.371        357     79.71       663
                  ---  -----------     ------     -----        ---     -----       ---
TOTAL:            531  162,508,006     100.00     7.762        357     92.10       659
                  ===  ===========     ======     =====        ===     =====       ===


17. PROPERTY TYPE



                                                   % OF
                                                 MORTGAGE
                                                  POOL BY                        WEIGHTED
                                     AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                           NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                             OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                          MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
PROPERTY TYPE              LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-------------             --------  -----------  ---------  --------  ---------  --------  --------

Single Family Residence        411  123,298,597      75.87     7.756        357     92.03       657
Condo                           46   13,573,339       8.35     7.741        356     92.49       663
2-4 Family                      33   13,208,820       8.13     7.972        357     91.97       676
Planned Unit Development        41   12,427,250       7.65     7.628        356     92.47       655
                               ---  -----------     ------     -----        ---     -----       ---
TOTAL:                         531  162,508,006     100.00     7.762        357     92.10       659
                               ===  ===========     ======     =====        ===     =====       ===


18. LOAN PURPOSE



                                                % OF
                                              MORTGAGE
                                               POOL BY                        WEIGHTED
                                  AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                        NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                          OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                       MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
LOAN PURPOSE            LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
------------           --------  -----------  ---------  --------  ---------  --------  --------

Purchase                    320   95,071,849      58.50     7.802        356     97.06       670
Refinance - Cashout         193   62,419,618      38.41     7.728        357     85.17       642
Refinance - Rate Term        18    5,016,539       3.09     7.430        357     84.23       653
                            ---  -----------     ------     -----        ---     -----       ---
TOTAL:                      531  162,508,006     100.00     7.762        357     92.10       659
                            ===  ===========     ======     =====        ===     =====       ===


19. DOCUMENTATION LEVEL



                                                % OF
                                              MORTGAGE
                                               POOL BY                        WEIGHTED
                                  AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                        NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                          OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                       MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
DOCUMENTATION LEVEL     LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-------------------    --------  -----------  ---------  --------  ---------  --------  --------

Stated Documentation        296   92,734,579      57.06     8.025        357     91.86       668
Full Documentation          208   60,521,993      37.24     7.396        357     92.09       646
Limited Documentation        27    9,251,435       5.69     7.520        356     94.59       650
                            ---  -----------     ------     -----        ---     -----       ---
TOTAL:                      531  162,508,006     100.00     7.762        357     92.10       659
                            ===  ===========     ======     =====        ===     =====       ===


20. CREDIT SCORE



                                       % OF
                                     MORTGAGE
                                      POOL BY                        WEIGHTED
                         AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
               NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                 OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
              MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
CREDIT SCORE   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
------------  --------  -----------  ---------  --------  ---------  --------  --------

500 - 524            1      216,000       0.13     7.500        359     90.00       519
550 - 574            1      249,325       0.15     9.750        351     51.55       553
575 - 599           14    4,104,955       2.53     7.251        356     81.68       586
600 - 624          120   36,833,314      22.67     7.863        356     91.08       613
625 - 649          117   34,552,231      21.26     7.784        357     90.25       637
650 - 674          112   35,014,895      21.55     7.769        357     92.05       661
675 - 699           78   24,286,113      14.94     7.775        357     94.39       685
700 - 724           40   11,756,963       7.23     7.630        357     97.08       711
725 - 749           24    6,839,742       4.21     7.500        357     94.75       735
750 - 774           15    5,052,000       3.11     7.912        357     96.41       763
775 - 799            7    2,978,520       1.83     7.641        356     95.41       782
800 +                2      623,948       0.38     7.135        353     80.00       806
                   ---  -----------     ------     -----        ---     -----       ---
TOTAL:             531  162,508,006     100.00     7.762        357     92.10       659
                   ===  ===========     ======     =====        ===     =====       ===


Non-Zero Minimum: 519
Maximum: 809
Non-Zero Weighted Average: 659

21. PREPAYMENT PENALTY TERM



                                                  % OF
                                                MORTGAGE
                                                 POOL BY                        WEIGHTED
                                    AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                          NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                            OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                         MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
PREPAYMENT PENALTY TERM   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
-----------------------  --------  -----------  ---------  --------  ---------  --------  --------

0                              96   31,006,377      19.08     8.141        357     92.95       669
6                               4    1,146,600       0.71     7.843        358     95.23       695
12                             42   14,888,521       9.16     7.876        357     91.56       653
24                            292   89,169,622      54.87     7.664        356     92.29       655
30                              1      180,000       0.11     8.350        358    100.00       677
36                             93   25,508,986      15.70     7.598        357     90.96       661
60                              3      607,900       0.37     6.666        358     72.50       661
                              ---  -----------     ------     -----        ---    ------       ---
TOTAL:                        531  162,508,006     100.00     7.762        357     92.10       659
                              ===  ===========     ======     =====        ===    ======       ===


Non-Zero Minimum: 6
Maximum: 60
Non-Zero Weighted Average: 25

22. LIEN POSITION



                                   % OF
                                 MORTGAGE
                                  POOL BY                        WEIGHTED
                     AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
           NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
             OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
          MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
LIEN       LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
----      --------  -----------  ---------  --------  ---------  --------  --------

1st Lien       531  162,508,006     100.00     7.762        357     92.10       659
               ---  -----------     ------     -----        ---     -----       ---
TOTAL:         531  162,508,006     100.00     7.762        357     92.10       659
               ===  ===========     ======     =====        ===     =====       ===


23. INTEREST ONLY TERM



                                             % OF
                                           MORTGAGE
                                            POOL BY                        WEIGHTED
                               AGGREGATE   AGGREGATE  WEIGHTED   WEIGHTED   AVERAGE
                     NUMBER     CUT-OFF     CUT-OFF   AVERAGE    AVERAGE   COMBINED  WEIGHTED
                       OF         DATE        DATE      GROSS   REMAINING  ORIGINAL  AVERAGE
                    MORTGAGE   PRINCIPAL   PRINCIPAL  INTEREST    TERM        SS       FICO
INTEREST ONLY TERM   LOANS    BALANCE ($)   BALANCE   RATE (%)   (MONTHS)     LTV     SCORE
------------------  --------  -----------  ---------  --------  ---------  --------  --------

24                         2      431,400       0.27     7.225        358     89.21       606
36                         3      639,500       0.39     7.938        358     91.16       631
60                       521  160,349,981      98.67     7.764        357     92.15       659
120                        5    1,087,125       0.67     7.638        357     85.70       643
                         ---  -----------     ------     -----        ---     -----       ---
TOTAL:                   531  162,508,006     100.00     7.762        357     92.10       659
                         ===  ===========     ======     =====        ===     =====       ===


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                                  IXIS 2006-HE3
                                      TOTAL

Total Number of Loans                                                     4,207
Total Loan Balance                                                  834,934,301
Average Loan Balance                                                    198,463
WA CLTV (w/o Silent Seconds)                                              80.13
WAC                                                                       8.458
WA FICO                                                                     626
WALA                                                                          3
WAM                                                                         351
Fxd Rate                                                                  13.20
IOs                                                                       19.46
MH                                                                           --
1st Lien                                                                  96.51
2nd Lien                                                                   3.49
Occupancy--OO                                                             92.54
Doc Type--Full/Alternative                                                41.02
Stated Doc                                                                54.68
Cash Out Refi                                                             52.45
Purchase                                                                  42.77

Loans with silent seconds :
% of Portfolio w/ SS                                                      34.70%
$ amount                                                            289,707,200
# of First Liens w/  SS                                                   1,217
CLTV of Total Portfolo (that includes silent 2nds)                        86.82

California                                                                32.46%
Prepay Penalties                                                          74.01%
Pre-Funding Balance
Expected Final Pool                                                 834,934,301

                                  MORTGAGE RATE

                      Balance
                  --------------
 5.500 -  5.999     1,142,613.61     0.14%
 6.000 -  6.499    13,046,234.71     1.56%
 6.500 -  6.999    55,647,990.83     6.66%
 7.000 -  7.499    92,592,459.05    11.09%
 7.500 -  7.999   195,760,939.80    23.45%
 8.000 -  8.499   116,576,497.72    13.96%
 8.500 -  8.999   139,645,819.04    16.73%
 9.000 -  9.499    69,844,659.94     8.37%
 9.500 -  9.999    74,586,518.50     8.93%
10.000 - 10.499    22,841,411.57     2.74%
10.500 - 10.999    24,565,873.69     2.94%
11.000 - 11.499     8,967,843.62     1.07%
11.500 - 11.999    11,362,749.09     1.36%
12.000 - 12.499     3,804,739.79     0.46%
12.500 - 12.999     2,802,032.26     0.34%
13.000 - 13.499     1,098,336.49     0.13%
13.500 - 13.999       539,248.38     0.06%
14.000 - 14.499       108,333.07     0.01%
16.500 - 16.999
17.000 >=
                  --------------   ------
                     834,934,301   100.00%
                  ==============   ======

                                  Gross Margin

                      Balance
                  --------------
0.000 - 0.499     110,194,671.80    13.20%
2.000 - 2.499       1,822,898.29     0.22%
2.500 - 2.999       1,118,425.69     0.13%
3.000 - 3.499       2,087,136.97     0.25%
3.500 - 3.999       4,433,056.22     0.53%
4.000 - 4.499       8,182,530.65     0.98%
4.500 - 4.999      16,709,894.97     2.00%
5.000 - 5.499      98,754,357.11    11.83%
5.500 - 5.999     113,582,518.08    13.60%
6.000 - 6.499     165,585,870.98    19.83%
6.500 - 6.999     108,401,417.14    12.98%
7.000 - 7.499      78,169,455.56     9.36%
7.500 - 7.999     107,678,483.35    12.90%
8.000 - 8.499      12,980,605.19     1.55%
8.500 - 8.999       4,477,340.65     0.54%
9.000 - 9.499         699,664.27     0.08%
9.500 - 9.999          55,974.24     0.01%
                  --------------   ------
                     834,934,301   100.00%
                  ==============   ======

                                ARM Maximum Rate

                       Balance
                   --------------
<= 12.500           17,265,869.10     2.07%
12.501 - 13.000     23,768,285.98     2.85%
13.001 - 13.500     29,105,054.84     3.49%
13.501 - 14.000     64,577,386.39     7.73%
14.001 - 14.500     90,057,162.95    10.79%
14.501 - 15.000    154,283,390.94    18.48%
15.001 - 15.500     98,102,007.74    11.75%
15.501 - 16.000    104,486,318.85    12.51%
16.001 - 16.500     56,049,693.18     6.71%
16.501 - 17.000     52,923,223.63     6.34%
17.001 - 17.500     17,008,201.21     2.04%
17.501 - 18.000     12,477,295.47     1.49%
18.001 - 18.500      2,692,761.27     0.32%
18.501 - 19.000        521,669.80     0.06%
19.001 - 19.500        596,608.23     0.07%
19.501 - 20.000        479,972.48     0.06%
23.501 - 24.000        344,727.30     0.04%
FIXED RATE LOANS   110,194,671.80    13.20%
                   --------------   ------
                      834,934,301   100.00%
                   ==============   ======

                                ARM Minimum Rate

                       Balance
                   --------------
5.501 -   6.000      3,539,484.96     0.42%
6.001 -   6.500     13,346,398.25     1.60%
6.501 -   7.000     47,361,242.00     5.67%
7.001 -   7.500     89,903,723.30    10.77%
7.501 -   8.000    172,884,806.02    20.71%
8.001 -   8.500    110,806,182.87    13.27%
8.501 -   9.000    118,049,760.85    14.14%
9.001 -   9.500     66,980,183.76     8.02%
9.501 -  10.000     60,876,414.56     7.29%
10.001 - 10.500     20,121,967.95     2.41%
10.501 - 11.000     14,825,159.73     1.78%
11.001 - 11.500      3,609,194.46     0.43%
11.501 - 12.000      1,308,418.59     0.16%
12.001 - 12.500        596,608.23     0.07%
12.501 - 13.000        530,083.83     0.06%
FIXED RATE LOANS   110,194,671.80    13.20%
                   --------------   ------
                      834,934,301   100.00%
                   ==============   ======

                             Unpaid % of Pool by
                             Principal Principal
INITIAL CAP (%)             Balance ($)Balance %
---------------           -----------------------
FIXED RATE LOANS          110,194,671.80    13.20%
                   1.00       977,782.63     0.12%
                   1.50   113,700,175.45    13.62%
                   2.00   191,102,925.81    22.89%
                   3.00   418,202,620.47    50.09%
                   5.00       477,439.00     0.06%
                   6.00       278,686.00     0.03%
                          --------------   ------
                             834,934,301   100.00%
                          ==============   ======

                            Unpaid % of Pool by
                            Principal Principal
PERIODIC CAP (%)            Balance ($)Balance %
----------------          -----------------------
FIXED RATE LOANS          110,194,671.80    13.20%
                   1.00   226,572,419.94    27.14%
                   1.50   493,139,917.33    59.06%
                   2.00     5,027,292.09     0.60%
                          --------------   ------
                             834,934,301   100.00%
                          ==============   ======

                           CLTV's (w/o Silent Seconds)

                     Balance
                 --------------
      <= 50.00    20,566,599.52     2.46%
50.01 -  55.00     9,792,664.38     1.17%
55.01 -  60.00    11,824,392.72     1.42%
60.01 -  65.00    23,050,855.01     2.76%
65.01 -  70.00    37,536,121.93     4.50%
70.01 -  75.00    60,082,262.23     7.20%
75.01 -  80.00   408,554,736.57    48.93%
80.01 -  85.00    87,800,198.45    10.52%
85.01 -  90.00    98,133,687.14    11.75%
90.01 -  95.00    39,254,352.82     4.70%
95.01 - 100.00    38,338,430.39     4.59%
                    ===========   ======
                    834,934,301   100.00%
                    -----------   ------

                                  CREDIT SCORES

                Balance
            --------------
500 - 519    36,716,796.92     4.40%
520 - 539    41,290,028.10     4.95%
540 - 559    46,061,608.83     5.52%
560 - 579    52,146,596.99     6.25%
580 - 599    71,827,436.99     8.60%
600 - 619   110,919,142.47    13.28%
620 - 639   138,573,730.76    16.60%
640 - 659   113,919,673.59    13.64%
660 - 679    81,518,012.90     9.76%
680 - 699    57,308,534.33     6.86%
700 - 719    33,073,182.79     3.96%
720 - 739    20,895,225.41     2.50%
740 - 759    14,662,300.61     1.76%
>= 760       16,022,030.47     1.92%
            --------------   ------
               834,934,301   100.00%
            ==============   ======

DTI                     UPB           %
---               --------------   ------
0                   3,583,945.23     0.43%
0.001  - 10.000     2,572,665.44     0.31%
10.001 - 15.000     4,053,408.45     0.49%
15.001 - 20.000     6,891,373.19     0.83%
20.001 - 25.000    16,047,340.10     1.92%
25.001 - 30.000    31,652,725.51     3.79%
30.001 - 35.000    55,348,836.09     6.63%
35.001 - 40.000   104,558,477.41    12.52%
40.001 - 45.000   232,650,007.86    27.86%
45.001 - 50.000   295,759,293.23    35.42%
50.001 - 55.000    74,787,971.48     8.96%
55.001 - 60.000     7,028,257.17     0.84%
                  --------------   ------
                     834,934,301   100.00%
                  ==============   ======

                                  LOAN BALANCE

                        BALANCE
                        % of Pool
ORIGINAL PRINCIPAL   Unpaid Principal
BALANCE ($)             Balance ($)
------------------   ----------------
1 - 50,000              9,142,478.82      1.09%
50,001 -  100,000      59,315,814.89      7.10%
100,001 - 150,000     105,969,864.41     12.69%
150,001 - 200,000     121,737,407.00     14.58%
200,001 - 250,000     116,498,113.07     13.95%
250,001 - 300,000      95,201,555.73     11.40%
300,001 - 350,000      76,984,830.32      9.22%
350,001 - 400,000      61,952,337.38      7.42%
400,001 - 450,000      52,167,193.22      6.25%
450,001 - 500,000      46,417,074.87      5.56%
500,001 - 550,000      25,101,206.67      3.01%
550,001 - 600,000      23,658,933.49      2.83%
600,001 - 650,000      12,537,504.36      1.50%
650,001 - 700,000       9,426,296.92      1.13%
700,001 - 750,000      10,261,097.32      1.23%
750,001 - 800,000       3,881,055.05      0.46%
800,001 - 850,000         849,621.74      0.10%
850,001 >=              3,831,915.90      0.46%
                      --------------    ------
                         834,934,301    100.00%
                      ==============    ======

                                 OCCUPANCY TYPES

                  Balance
              --------------
PRIMARY       772,614,335.34    92.54%
INVESTMENT     49,653,254.04     5.95%
SECOND HOME    12,666,711.78     1.52%
              --------------   ------
                 834,934,301   100.00%
              ==============   ======

                                    LOAN TERM

                Balance         %
            --------------   ------
0 - 60
61 - 120        496,311.23     0.06%
121 - 180    25,855,356.08     3.10%
181 - 240     1,990,559.09     0.24%
241 - 300       245,515.20     0.03%
301 - 360   806,346,559.56    96.58%
361 - 420
421 - 480
            --------------   ------
               834,934,301   100.00%
            ==============   ======

                                  LOAN PURPOSE

                         Balance
                     --------------
PURCHASE             357,138,841.16    42.77%
REFI (CASHOUT)       437,916,029.78    52.45%
DEBT CONSOLIDATION
HOME IMPROVEMENT
REFI (RATE TERM)      39,879,430.22     4.78%
                     --------------   ------
                        834,934,301   100.00%
                     ==============   ======

                                  PRODUCT TYPE

                 Balance
             --------------
FIXED RATE   110,194,671.80    13.20%
FLOATING     724,739,629.36    86.80%
             --------------   ------
                834,934,301   100.00%
             ==============   ======

                                  INTEREST ONLY

             Balance
          --------------
2YR IO        431,400.00     0.05%
3YR IO        639,500.00     0.08%
5YR IO    160,349,980.87    19.21%
7YR IO
10YR IO     1,087,125.00     0.13%
NON IO    672,426,295.29    80.54%
          --------------   ------
             834,934,301   100.00%
          ==============   ======

                                  HYBRID TYPES

               Balance
           --------------
1/29 ARM       542,838.36     0.07%
2/28 ARM   574,697,548.20    68.83%
3/27 ARM   145,612,520.09    17.44%
5/25 ARM     3,886,722.71     0.47%
FIXED      110,194,671.80    13.20%
           --------------   ------
              834,934,301   100.00%
           ==============   ======

                                  PROPERTY TYPE

                           Balance
                       --------------
SINGLE FAMILY          640,465,570.39    76.71%
PUD                     53,080,620.23     6.36%
2-4 FAMILY              78,056,396.73     9.35%
CONDO                   52,023,168.45     6.23%
MANUFACTURED HOUSING
TOWNHOUSE               11,308,545.36     1.35%
                       --------------   ------
                          834,934,301   100.00%
                       ==============   ======

                                  DOCUMENTATION

                       Balance
                   --------------
FULL/ALTERNATIVE   342,451,104.45    41.02%
REDUCED             35,981,758.43     4.31%
STATED             456,501,438.28    54.68%
NO DOC
                   --------------   ------
                      834,934,301   100.00%
                   ==============   ======

                                  LIEN PRIORITY

             Balance
         --------------
FIRST    805,760,512.23    96.51%
SECOND    29,173,788.93     3.49%
         --------------   ------
            834,934,301   100.00%
         ==============   ======

                               MORTGAGE INSURANCE

MORTGAGE INSURANCE
NOT INSURED
COVERAGE DOWN TO:
                     ---   ----
                      0    0.00%
                     ===   ====

ORIGINATOR         SERVICER
----------         --------
Accredited         Saxon
Chapel             Master Financial
Encore
First Banc
First Horizon
First NLC
Flex Point
Funding America
Lenders Direct
Lime Financial
Mandalay
Master Financial
Maxim
New Century
Quick Loan
Rose Mortgage

                         GEOGRAPHIC DISTRIBUTION-STATES

STATE                      Balance
-----                  --------------
ALABAMA                  1,519,188.40     0.18%
ALASKA                     133,712.98     0.02%
ARIZONA                 31,983,040.45     3.83%
ARKANSAS                 1,463,671.58     0.18%
CALIFORNIA             271,051,189.84    32.46%
COLORADO                 8,053,444.97     0.96%
CONNECTICUT             14,903,474.26     1.78%
DELAWARE                 1,743,122.48     0.21%
DISTRICT OF COLUMBIA     2,015,942.53     0.24%
FLORIDA                119,157,018.56    14.27%
GEORGIA                 13,333,788.34     1.60%
HAWAII                  11,337,657.06     1.36%
IDAHO                    3,303,211.77     0.40%
ILLINOIS                57,253,943.39     6.86%
INDIANA                  4,368,330.96     0.52%
IOWA                     1,436,424.37     0.17%
KANSAS                   2,186,015.79     0.26%
KENTUCKY                   933,525.57     0.11%
LOUISIANA                2,482,710.79     0.30%
MAINE                    1,601,768.99     0.19%
MARYLAND                25,717,947.22     3.08%
MASSACHUSETTS           20,615,446.77     2.47%
MICHIGAN                13,436,420.95     1.61%
MINNESOTA                3,885,829.99     0.47%
MISSISSIPPI                525,541.04     0.06%
MISSOURI                 7,492,887.28     0.90%
MONTANA                    297,455.05     0.04%
NEBRASKA                   323,119.45     0.04%
NEVADA                  19,876,786.01     2.38%
NEW HAMPSHIRE            1,140,538.41     0.14%
NEW JERSEY              20,673,940.41     2.48%
NEW MEXICO               2,654,554.65     0.32%
NEW YORK                41,732,227.21     5.00%
NORTH CAROLINA           4,797,169.64     0.57%
NORTH DAKOTA               438,789.85     0.05%
OHIO                     4,958,808.03     0.59%
OKLAHOMA                 1,193,942.44     0.14%
OREGON                   8,388,711.24     1.00%
PENNSYLVANIA            15,389,416.62     1.84%
RHODE ISLAND            15,231,724.63     1.82%
SOUTH CAROLINA             699,964.84     0.08%
SOUTH DAKOTA                85,157.70     0.01%
TENNESSEE                7,215,691.93     0.86%
TEXAS                   26,645,529.27     3.19%
UTAH                     2,950,694.25     0.35%
VERMONT                    201,985.53     0.02%
VIRGINIA                17,526,643.12     2.10%
WASHINGTON              16,283,977.29     1.95%
WEST VIRGINIA
WISCONSIN                3,942,374.63     0.47%
WYOMING                    349,842.63     0.04%
                       --------------   ------
                          834,934,301   100.00%
                       ==============   ======

                          GEOGRAPHIC DISTRIBUTION-MSAS



MSA                                                        Balance      Percentage
---                                                    --------------   ----------

Unknown                                                 49,474,247.96       5.93%
Abilene-TX                                                  79,858.00       0.01%
Albany-Schenectady-Troy-NY                                 936,901.60       0.11%
Albuquerque-NM                                           2,303,276.89       0.28%
Allentown-Bethlehem-Easton-PA                            1,209,568.52       0.14%
Altoona-PA                                                  78,137.56       0.01%
Amarillo-TX                                                143,787.45       0.02%
Anniston-AL                                                121,419.50       0.01%
Appleton-Oshkosh-Neenah-WI                                 110,604.75       0.01%
Asheville-NC                                               536,261.65       0.06%
Athens-GA                                                  165,600.00       0.02%
Atlanta-GA                                               9,904,025.53       1.19%
Augusta-Aiken-GA                                           100,864.09       0.01%
Austin-San Marcos-TX                                     1,784,110.40       0.21%
Bakersfield-CA                                           6,837,895.22       0.82%
Bangor-ME                                                   75,494.44       0.01%
Barnstable-Yarmouth-MA                                     823,489.88       0.10%
Baton Rouge-LA                                           1,022,153.45       0.12%
Beaumont-Port Arthur-TX                                    276,423.95       0.03%
Bellingham-WA                                              640,494.26       0.08%
Benton Harbor-MI                                           187,740.80       0.02%
Biloxi-Gulfport-Pascagoula-MS                              111,936.88       0.01%
Birmingham-AL                                              678,626.52       0.08%
Boise City-ID                                            2,155,294.43       0.26%
Boston-Worcester-Lawrence-MA-NH-ME-CT                   17,370,893.72       2.08%
Brownsville-Harlingen-San Benito-TX                        216,391.87       0.03%
Bryan-College Station-TX                                   154,805.65       0.02%
Buffalo-Niagara Falls-NY                                   468,761.95       0.06%
Burlington-VT                                               73,985.53       0.01%
Cedar Rapids-IA                                             45,656.05       0.01%
Charlottesville-VA                                         985,070.80       0.12%
Charlotte-Gastonia-Rock Hill-NC-SC                         645,295.81       0.08%
Chattanooga-TN-GA                                          359,978.58       0.04%
Cheyenne-WY                                                279,919.79       0.03%
Chicago-Gary-Kenosha-IL-IN-WI                           54,465,245.66       6.52%
Chico-Paradise-CA                                          777,612.29       0.09%
Cincinnati-Hamilton-OH-KY-IN                             1,814,639.07       0.22%
Clarksville-Hopkinsville-TN-KY                             249,953.03       0.03%
Cleveland-Akron-OH                                       1,220,811.68       0.15%
Colorado Springs-CO                                      2,075,290.04       0.25%
Columbia-SC                                                 79,922.63       0.01%
Columbus-GA-AL                                             225,881.43       0.03%
Columbus-OH                                              1,009,145.60       0.12%
Corpus Christi-TX                                          450,347.85       0.05%
Dalla-Fort Worth-TX                                      9,726,160.77       1.16%
Davenport-Moline-Rock Island-IA-IL                         246,340.17       0.03%
Daytona Beach-FL                                         4,041,038.03       0.48%
Dayton-Springfield-OH                                      141,044.09       0.02%
Decatur-AL                                                  54,897.98       0.01%
Decatur-IL                                                 203,787.89       0.02%
Denver-Boulder-Greeley-CO                                4,855,669.54       0.58%
Des Moines-IA                                              744,977.05       0.09%
Detroit-Ann Arbor-Flint-MI                               8,467,961.40       1.01%
Dothan-AL                                                   57,867.82       0.01%
Dover-DE                                                   834,581.31       0.10%
El Paso-TX                                                 745,835.72       0.09%
Enid-OK                                                     50,251.36       0.01%
Erie-PA                                                    162,377.45       0.02%
Eugene-Springfield-OR                                      327,725.37       0.04%
Fargo-Moorhead-ND-MN                                       239,756.81       0.03%
Fayetteville-Springdale-Rogers-AR                           22,329.62       0.00%
Florence-SC                                                 98,800.00       0.01%
Fort Collins-Loveland-CO                                   179,812.50       0.02%
Fort Myers-Cape Coral-FL                                 7,622,939.53       0.91%
Fort Pierce-Port St. Lucie-FL                            3,735,315.24       0.45%
Fort Smith-AR-OK                                            37,965.67       0.00%
Fort Wayne-IN                                               75,287.22       0.01%
Fresno-CA                                                6,804,663.53       0.81%
Glens Falls-NY                                             127,902.89       0.02%
Grand Junction-CO                                          169,242.15       0.02%
Grand Rapids-Muskegon-Holland-MI                         1,605,360.61       0.19%
Green Bay-WI                                               419,131.07       0.05%
Greensboro-Winston-Salem-High Point-NC                     871,760.96       0.10%
Greenville-Spartanburg-Anderson-SC                         311,273.29       0.04%
Harrisburg-Lebanon-Carlisle-PA                             502,842.89       0.06%
Hartford-CT                                              3,933,793.89       0.47%
Hickory-Morganton-Lenoir-NC                                130,447.92       0.02%
Honolulu-HI                                              5,631,696.34       0.67%
Houma-LA                                                   182,885.81       0.02%
Houston-Galveston-Brazoria-TX                            8,398,491.32       1.01%
Huntsville-AL                                               75,924.94       0.01%
Indianapolis-IN                                          1,715,606.23       0.21%
Jacksonville-FL                                          4,156,761.77       0.50%
Jacksonville-NC                                            110,958.23       0.01%
Jackson-MI                                                 373,333.46       0.04%
Jackson-MS                                                 278,790.86       0.03%
Jackson-TN                                                 612,537.32       0.07%
Janesville-Beloit-WI                                       100,702.51       0.01%
Johnson City-Kingsport-Bristol-TN-VA                       595,679.64       0.07%
Johnstown-PA                                                95,891.12       0.01%
Joplin-MO                                                  295,639.35       0.04%
Kalamazoo-Battle Creek-MI                                  283,422.46       0.03%
Kansas City-MO-KS                                        3,742,238.45       0.45%
Killeen-Temple-TX                                          367,412.79       0.04%
Knoxville-TN                                               732,604.82       0.09%
Kokomo-IN                                                   52,425.70       0.01%
La Crosse-WI-MN                                             84,190.83       0.01%
Lafayette-IN                                               103,761.83       0.01%
Lake Charles-LA                                             92,755.44       0.01%
Lakeland-Winter Haven-FL                                 3,080,051.94       0.37%
Lancaster-PA                                               102,025.69       0.01%
Lansing-East Lansing-MI                                    766,145.30       0.09%
Laredo-TX                                                  100,904.73       0.01%
Las Vegas-NV-AZ                                         18,505,571.49       2.22%
Lawrence-KS                                                109,883.08       0.01%
Lima-OH                                                     49,937.25       0.01%
Lincoln-NE                                                 124,423.01       0.01%
Little Rock-North Little Rock-AR                         1,015,417.77       0.12%
Los Angeles-Riverside-Orange County-CA                 162,863,484.63      19.51%
Louisville-KY-IN                                           363,225.45       0.04%
Lubbock-TX                                                 210,894.70       0.03%
Lynchburg-VA                                               127,129.45       0.02%
Macon-GA                                                   310,463.94       0.04%
Madison-WI                                                  79,497.13       0.01%
Mansfield-OH                                               108,698.71       0.01%
McAllen-Edinburg-Mission-TX                                180,497.78       0.02%
Medford-Ashland-OR                                         418,909.31       0.05%
Melbourne-Titusville-Palm Bay-FL                         2,291,329.60       0.27%
Memphis-TN-AR-MS                                         2,633,424.59       0.32%
Merced-CA                                                1,683,307.76       0.20%
Miami-Fort Lauderdale-FL                                47,575,143.56       5.70%
Milwaukee-Racine-WI                                      1,777,926.57       0.21%
Minneapolis-St. Paul-MN-WI                               2,742,354.96       0.33%
Mobile-AL                                                  162,647.29       0.02%
Modesto-CA                                               5,867,735.74       0.70%
Naples-FL                                                3,956,035.94       0.47%
Nashville-TN                                             1,531,897.38       0.18%
New Haven-West Haven-Bridgeport-CT                       7,860,646.28       0.94%
New London-Norwich-CT-RI                                 1,860,811.73       0.22%
New Orleans-LA                                             350,367.63       0.04%
New York-Northern New Jersey-Long Island-NY-NJ-CT-PA    53,487,008.08       6.41%
Norfolk-Virginia Beach-Newport News-VA-NC                5,172,411.67       0.62%
Ocala-FL                                                 1,163,182.49       0.14%
Odessa-Midland-TX                                          231,773.01       0.03%
Oklahoma City-OK                                           660,843.98       0.08%
Omaha-NE-IA                                                286,616.40       0.03%
Orlando-FL                                              12,693,794.57       1.52%
Pensacola-FL                                               699,836.88       0.08%
Peoria-Pekin-IL                                             32,341.37       0.00%
Philadelphia-Wilmington-Atlantic City-PA-NJ-DE-MD       12,306,212.15       1.47%
Phoenix-Mesa-AZ                                         27,461,015.22       3.29%
Pittsburgh-PA                                            2,532,494.60       0.30%
Portland-ME                                                801,177.11       0.10%
Portland-Salem-OR-WA                                     6,602,442.77       0.79%
Providence-Fall River-Warwick-RI-MA                     14,271,213.31       1.71%
Provo-Orem-UT                                              146,796.77       0.02%
Pueblo-CO                                                  276,890.63       0.03%
Punta Gorda-FL                                           1,861,841.34       0.22%
Raleigh-Durham-Chapel Hill-NC                              834,310.72       0.10%
Reading-PA                                                 507,407.73       0.06%
Redding-CA                                                 439,317.45       0.05%
Reno-NV                                                    480,361.01       0.06%
Richland-Kennewick-Pasco-WA                                202,350.15       0.02%
Richmond-Petersburg-VA                                   2,885,373.28       0.35%
Roanoke-VA                                                 255,926.30       0.03%
Rochester-NY                                                98,375.66       0.01%
Rockford-IL                                              1,461,971.58       0.18%
Sacramento-Yolo-CA                                      15,862,493.03       1.90%
Saginaw-Bay City-Midland-MI                                415,342.53       0.05%
Salinas-CA                                                 220,000.00       0.03%
Salt Lake City-Ogden-UT                                  1,707,275.77       0.20%
San Angelo-TX                                              172,853.35       0.02%
San Antonio-TX                                           1,023,641.03       0.12%
San Diego-CA                                            11,437,783.25       1.37%
San Francisco-Oakland-San Jose-CA                       40,135,940.15       4.81%
San Luis Obispo-Atascadero-Paso Robles-CA                  294,879.63       0.04%
Santa Barbara-Santa-Maria-Lompoc-CA                      1,316,917.40       0.16%
Santa Fe-NM                                                 93,624.55       0.01%
Sarasota-Bradenton-FL                                    2,658,873.09       0.32%
Savannah-GA                                                503,635.00       0.06%
Scranton-Wilkes Barre-Hazleton-PA                          622,324.73       0.07%
Seattle-Tacoma-Bremerton-WA                             11,859,886.03       1.42%
Sharon-PA                                                  454,442.27       0.05%
Sherman-Denison-TX                                          67,893.42       0.01%
Shreveport-Bossier City-LA                                 359,146.91       0.04%
Sioux Falls-SD                                              85,157.70       0.01%
South Bend-IN                                              451,732.66       0.05%
Spokane-WA                                                 698,185.89       0.08%
Springfield-IL                                             147,972.27       0.02%
Springfield-MA                                           2,611,375.54       0.31%
Springfield-MO                                             351,838.95       0.04%
Stockton-Lodi-CA                                         7,317,168.73       0.88%
St. Louis-MO-IL                                          3,617,876.45       0.43%
Syracuse-NY                                                492,281.12       0.06%
Tallahassee-FL                                             220,004.94       0.03%
Tampa-St. Petersburg-Clearwater-FL                      14,334,896.32       1.72%
Terre Haute-IN                                              77,928.75       0.01%
Toledo-OH                                                   69,819.59       0.01%
Topeka-KS                                                  222,590.09       0.03%
Tucson-AZ                                                2,201,683.29       0.26%
Tulsa-OK                                                   482,847.10       0.06%
Tyler-TX                                                   368,705.39       0.04%
Utica-Rome-NY                                               59,911.10       0.01%
Victoria-TX                                                172,817.11       0.02%
Visalia-Tulare-Porterville-CA                            3,153,095.98       0.38%
Waco-TX                                                    229,437.94       0.03%
Washington-Baltimore-DC-MD-VA-WV                        33,521,095.42       4.01%
Wausau-WI                                                  131,840.91       0.02%
West Palm Beach-Boca Raton-FL                            7,302,130.21       0.87%
Wichita Falls-TX                                           228,973.00       0.03%
Wichita-KS                                                 294,343.25       0.04%
Williamsport-PA                                            215,346.10       0.03%
Wilmington-NC                                              364,067.43       0.04%
York-PA                                                    269,392.53       0.03%
Youngstown-Warren-OH                                       397,326.68       0.05%
Yuba City-CA                                               251,865.28       0.03%
Yuma-AZ                                                    358,888.96       0.04%
                                                       --------------     ------
                                                          834,934,301     100.00%
                                                       ==============     ======


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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         PLEASE DO NOT ALTER THIS PAGE. IT IS CUT DIRECTLY INTO A MODEL.



LTV                                   FIXED RATE $       2/28 $          3-37 $         5/25 $         Other
---                                  --------------  --------------  --------------  ------------  ------------

    Below 70                          19,588,488.52   63,555,753.89   18,790,756.67    627,999.15    207,635.33
 70.01 to 75                           7,795,752.11   40,003,160.67   11,830,724.10    452,625.35            --
 75.01 to 80                          25,447,536.96  309,414,322.41   70,865,307.37  1,819,528.76  1,008,041.07
 80.01 to 85                          11,963,704.97   54,266,844.33   21,084,262.51    485,386.64            --
 85.01 to 90                          11,002,531.16   71,871,686.32   14,707,773.47    283,182.81    268,513.38
 90.01 to 95                           4,164,622.67   30,324,415.10    4,547,315.05    218,000.00            --
95.01 to 100                          30,232,035.41    4,320,014.06    3,786,380.92            --            --
 100.01 plus




FICO

 below 549                            12,532,799.15   61,004,550.49   26,717,435.26     78,667.16            --
550 to 574                             5,699,854.34   40,763,451.43   15,856,174.53    373,958.19            --
575 to 599                             9,693,552.32   54,981,442.74   19,689,384.00    376,873.24    274,324.98
600 to 624                            18,474,761.33  109,846,446.97   20,191,149.92    324,324.37    476,148.71
625 to 649                            23,663,178.97  109,617,011.15   25,472,565.48    655,061.21    598,234.70
650 to 674                            17,998,477.39   82,821,692.73   16,162,066.46    441,000.00    135,481.39
675 to 699                            11,242,559.50   53,770,220.57    9,592,271.40    756,441.80            --
  700 plus                            10,889,488.80   60,951,380.70   11,931,473.04    880,396.74            --




Property Type:

     Single-Family                    89,228,603.68  439,388,267.39  118,962,798.95  2,917,891.28  1,276,554.45
               PUD                     4,365,541.53   42,472,548.59    5,816,894.78    218,000.00    207,635.33
             Condo                     4,336,498.30   37,987,839.37    9,698,830.78            --            --
    3+ Family Det.                     3,485,988.36   18,147,218.68    4,935,713.10            --            --
Manufactured House
             Other                     8,778,039.93   35,760,322.75    6,198,282.48    750,831.43            --




Purpose:

Purchase                              35,629,176.08  273,281,934.75   46,973,580.04    850,155.52    403,994.77
Refinance rate/term                   10,387,059.93   20,150,820.65    9,184,110.64    157,439.00            --
Cash Out Refi (COF) Below  70 LTV     17,228,783.71   59,218,588.11   15,788,588.90    627,999.15    207,635.33
COF with  LTV  70.01 to 75             6,889,670.17   33,787,446.18   11,085,106.79    452,625.35            --
COF with  LTV  75.01 to 80            16,291,057.26   82,835,229.69   31,597,269.93    969,373.24    872,559.68
COF with  LTV  80.01 to 85             9,233,637.20   41,863,193.67   16,249,237.82    485,386.64            --
COF with  LTV  85.01 to 90             8,147,823.34   47,108,166.36   10,024,564.00    125,743.81            --
COF with  LTV  90.01 TO 95             2,253,792.95   15,067,040.38    2,822,031.37    218,000.00            --
COF with  LTV  95.01 to 100            4,133,671.16      443,776.99    1,888,030.60            --            --
COF with   LTV  100.01 plus
Other




MH Stratification

Total Balance                                       0
                                          -----------
% Pool Balance                                   0.00
Ave. FICO                                           0
Ave. LTV                                            0
% Full Docs                                         -




SILENT SECONDS STRATIFICATION

Total Balance                             289,707,200
                                          -----------
% Pool Balance                                  34.70
Ave. FICO                                         658
Ave. LTV                                        80.13
% Full Docs                                     32.04




SECOND LIEN STRATIFICATION

Total Balance                              29,173,789
                                          -----------
% Pool Balance                                   3.49
Ave. FICO                                         657
Ave. LTV                                        99.52
% Full Docs                                     22.77




LTV ABOVE 90 STRATIFICATION

Total Balance                              77,592,783
                                          -----------
% Pool Balance                                   9.29
Ave. FICO                                         648
Ave. LTV                                        97.23
% Full Docs                                     47.70




OCCUPANCY STATUS:

Owner Occupied                       104,310,697.32  523,948,872.39  139,466,249.88  3,404,325.97  1,484,189.78
Investment                             5,587,027.66   38,005,728.00    5,578,101.64    482,396.74            --
Second Home                              296,946.82   11,801,596.39      568,168.57            --            --
Other




LOAN BALANCE

           Below 50,000                8,153,426.89      718,564.21      376,453.66     34,979.22            --
   50,000.01 to 100,000               26,948,786.45   21,164,181.07   11,147,749.63    155,069.59            --
  100,000.01 to 150,000               22,879,476.20   56,463,895.21   25,634,250.24    656,906.15    135,481.39
  150,000.01 to 200,000               15,635,354.24   74,802,948.30   30,606,490.64    851,536.32            --
  200,000.01 to 400,000               26,564,136.01  260,825,574.59   61,099,928.68  1,595,731.43    750,473.69
  400,000.01 to 500,000                4,426,799.47   87,057,802.01    6,700,674.42            --            --
  500,000.01 to 600,000                4,935,933.06   36,209,870.77    6,423,601.63    592,500.00    598,234.70
600,000.01 to 1,000,000                  650,759.48   36,513,360.62    3,623,371.19            --            --
 1,000,000.01 and above




LOAN TERM

> 30 Years
  30 Years                            81,606,930.20  573,756,196.78  145,612,520.09  3,886,722.71  1,484,189.78
  20 Years                             1,990,559.09              --              --            --            --
  15 Years                            25,855,356.08              --              --            --            --
     Other                               741,826.43              --              --            --            --




DOCUMENTATION TYPE

                 Full Documentation   55,149,259.33  218,624,841.42   66,791,019.30  1,750,503.01    135,481.39
              Limited Documentation    5,122,442.72   27,144,981.87    3,714,333.84            --            --
      Stated Docs with LTV below 70    9,819,851.31   32,449,789.92    8,508,699.45    122,178.13    207,635.33
  Stated Docs with LTV  70.01 to 75    1,856,195.56   19,391,598.34    4,543,545.52    452,625.35            --
 Stated Docs with LTV   75.01 to 80   10,297,179.23  196,151,842.34   45,469,624.93  1,071,285.77    872,559.68
 Stated Docs with LTV   80.01 to 85    3,821,629.61   28,729,734.69    8,504,376.97    364,386.64            --
 Stated Docs with LTV   85.01 to 90    2,961,673.57   38,014,664.44    5,785,108.22    125,743.81    268,513.38
 Stated Docs with LTV   90.01 to 95    1,052,627.21   11,628,443.87    1,807,696.60            --            --
Stated Docs with LTV   95.01 to 100   20,113,813.26    1,620,299.89      488,115.26            --            --
  Stated Docs with LTV above 100.01
                              Other




LIEN STATUS

                           1st Lien   81,020,882.87  573,756,196.78  145,612,520.09  3,886,722.71  1,484,189.78
    Second Liens with LTV below  85      298,367.60              --              --            --            --
 Second Liens with LTV  85.01 to 90      151,074.80              --              --            --            --
 Second Liens with LTV  90.01 to 95      631,539.14              --              --            --            --
Second Liens with LTV  95.01 to 100   28,092,807.39              --              --            --            --
Second Liens with LTV  above 100.01




INTEREST ONLY

Dollar of Mortgage Type                4,811,984.77  132,706,238.28   23,093,943.82  1,895,839.00            --
Ave. FICO                                       655             658             665           676            --
Ave. LTV                                      77.31           80.76           80.55         77.91            --
% Stated Docs                                 53.30%
% Full Docs                                   46.70%


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



TERM SHEET DISCLAIMER

This material was prepared by sales, trading, banking or other non-research
personnel of one of the following: Morgan Stanley & Co. Incorporated, Morgan
Stanley & Co. International Limited, Morgan Stanley Japan Limited and/or Morgan
Stanley Dean Witter Asia Limited (together with their affiliates, hereinafter
"Morgan Stanley"). This material was not produced by a Morgan Stanley research
analyst, although it may refer to a Morgan Stanley research analyst or research
report. Unless otherwise indicated, these views (if any) are the author's and
may differ from those of the Morgan Stanley fixed income or equity research
department or others in the firm.

This material may have been prepared by or in conjunction with Morgan Stanley
trading desks that may deal as principal in or own or act as market maker or
liquidity provider for the securities/instruments (or related derivatives)
mentioned herein. The trading desk may have accumulated a position in the
subject securities/instruments based on the information contained herein.
Trading desk materials are not independent of the proprietary interests of
Morgan Stanley, which may conflict with your interests. Morgan Stanley may also
perform or seek to perform investment banking services for the issuers of the
securities and instruments mentioned herein.

The information contained in this material is subject to change, completion or
amendment from time to time, and the information in this material supersedes
information in any other communication relating to the securities referred to in
this material.

This material is not a solicitation to participate in any trading strategy, and
is not an offer to sell any security or instrument or a solicitation of an offer
to buy or sell any security or instrument in any jurisdiction where the offer,
solicitation or sale is not permitted.

Unless otherwise set forth in this material, any securities referred to in this
material may not have been registered under the U.S. Securities Act of 1933, as
amended, and, if not, may not be offered or sold absent an exemption therefrom.
Recipients are required to comply with any legal or contractual restrictions on
their purchase, holding, sale, exercise of rights or performance of obligations
under any securities/instruments transaction.

The securities/instruments discussed in this material may not be suitable for
all investors. This material has been prepared and issued by Morgan Stanley for
intended distribution to market professionals and institutional investor
clients. Other recipients should seek independent investment advice prior to
making any investment decision based on this material. This material does not
provide individually tailored investment advice or offer tax, regulatory,
accounting or legal advice. Prior to entering into any proposed transaction,
recipients should determine, in consultation with their own investment, legal,
tax, regulatory and accounting advisors, the economic risks and merits, as well
as the legal, tax, regulatory and accounting characteristics and consequences,
of the transaction. You should consider this material as only a single factor in
making an investment decision.

Options are not for everyone. Before purchasing or writing options, investors
should understand the nature and extent of their rights and obligations and be
aware of the risks involved, including the risks pertaining to the business and
financial condition of the issuer and the security/instrument. A secondary
market may not exist for these securities. For Morgan Stanley customers who are
purchasing or writing exchange-traded options, please review the publication
'Characteristics and Risks of Standardized Options,' which is available from
your account representative.

The value of and income from investments may vary because of changes in interest
rates, foreign exchange rates, default rates, prepayment rates,
securities/instruments prices, market indexes, operational or financial
conditions of companies or other factors. There may be time limitations on the
exercise of options or other rights in securities/instruments transactions. Past
performance is not necessarily a guide to future performance. Estimates of
future performance are based on assumptions that may not be realized. Actual
events may differ from those assumed and changes to any assumptions may have a
material impact on any projections or estimates. Other events not taken into
account may occur and may significantly affect the projections or estimates.
Certain assumptions may have been made for modeling purposes only to simplify
the presentation and/or calculation of any projections or estimates, and Morgan
Stanley does not represent that any such assumptions will reflect actual future
events. Accordingly, there can be no assurance that estimated returns or
projections will be realized or that actual returns or performance results will
not materially differ from those estimated herein. Some of the information
contained in this document may be aggregated data of transactions in securities
or other financial instruments executed by Morgan Stanley that has been compiled
so as not to identify the underlying transactions of any particular customer.

Notwithstanding anything herein to the contrary, Morgan Stanley and each
recipient hereof agree that they (and their employees, representatives, and
other agents) may disclose to any and all persons, without limitation of any
kind from the commencement of discussions, the U.S. federal and state income tax
treatment and tax structure of the transaction and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to
the tax treatment and tax structure. For this purpose, "tax structure" is
limited to facts relevant to the U.S. federal and state income tax treatment of
the transaction and does not include information relating to the identity of the
parties, their affiliates, agents or advisors

In the UK, this communication is directed in the UK to those persons who are
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DEAL NAME IXIS 2006-HE3

                                        ARM           FRM        TOTAL/AVG.
                                    -----------   -----------   -----------
Percentage Bal                            86.80%        13.20%       100.00%
Deal Balance                        724,739,629   110,194,672   834,934,301
All-in Severity
WAM                                         357           311           351
WALA                                          3             3             3
WAC                                       8.358%        9.118%        8.458%
Lag
CLTV (incl all simultaneous 2nds)         87.88%        84.42%        87.42%
CLTV                                      79.74%        82.69%        80.13%
Loan Balance                            224,725       112,215       198,463
Non-Full Doc%                             60.36%        49.95%        58.98%
DTI                                       42.93%        41.85%        42.79%
IO%                                       21.76%         4.37%        19.46%
Second Lien%                               0.00%        26.47%         3.49%
Silent Seconds%                           38.64%         8.78%        34.70%
FICO                                        625           631           626
1st Quartile                                544           542           544
2nd Quartile                                605           607           606
3rd Quartile                                640           639           640
4th Quartile                                697           694           697
Property Type
Single Family%                            77.62%        80.97%        78.06%
PUD%                                       6.72%         3.96%         6.36%
2-4 Unit%                                  9.08%        11.13%         9.35%
Condo%                                     6.58%         3.94%         6.23%
MH%                                        0.00%         0.00%         0.00%
Occupancy Type
Owner Occupied                            92.21%        94.66%        92.54%
2nd Home                                   1.71%         0.27%         1.52%
Investor Prop                              6.08%         5.07%         5.95%
Loan Purpose
Purchase                                  44.36%        32.33%        42.77%
Cash-Out                                  51.57%        58.24%        52.45%
Rate-Reduction                             4.07%         9.43%         4.78%

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
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WINCHESTER CAPITAL - HEL / RESI B&C -                  (WINCHESTER CAPITAL LOGO)
STRATIFICATION TABLES

1. FICO
2. LTV
3. DTI
4. Occupancy Type
5. WAC
6. IO Type
7. Loan Documentation Type
8. Others
9. Credit Grades
10. Top 10 Cities

1. FICO








FICO                            WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
----                            ------  -----  ----------  ------------------  ---------  --------------  ------

581 & Above                        649     82       3,166          205,829.99      78.05  651,657,744.08   8.257
561 - 580                          571     78         298          190,618.79       6.80   56,804,400.06   8.837
541 - 560                          551     76         269          173,533.77       5.59   46,680,583.46   9.088
521 - 540                          530     72         235          173,960.07       4.90   40,880,616.22   9.412
520 & Below                        510     72         239          162,807.35       4.66   38,910,957.34   9.522
                                   ---    ---       -----          ----------     ------  --------------   -----
TOTAL:                             626     80       4,207          198,463.11     100.00  834,934,301.16   8.458
                                   ===    ===       =====          ==========     ======  ==============   =====


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
FICO                             below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
----                            -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

581 & Above                        0.00     0.00     0.00     0.00   100.00    75.79     12.96      5.55       5.69     0.00
561 - 580                          0.00     0.00     0.00   100.00     0.00    79.51     14.92      3.99       1.59     0.00
541 - 560                          0.00     0.00   100.00     0.00     0.00    88.24      9.80      1.42       0.54     0.00
521 - 540                          0.00   100.00     0.00     0.00     0.00    98.63      0.97      0.40       0.00     0.00
520 & Below                      100.00     0.00     0.00     0.00     0.00    99.26      0.56      0.00       0.18     0.00
                                 ------   ------   ------   ------   ------    -----     -----      ----       ----     ----
TOTAL:                             4.66     4.90     5.59     6.80    78.05    78.95     11.75      4.70       4.59     0.00
                                 ======   ======   ======   ======   ======    =====     =====      ====       ====     ====

                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
FICO                              below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
----                            --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

581 & Above                         1.27     2.68     3.94      86.38      4.43   0.86    0.46     36.22   59.41     4.37
561 - 580                           0.37     3.01     5.26      87.70      3.67   0.00    0.00     52.82   42.17     5.01
541 - 560                           0.55     2.97     5.99      89.10      1.39   0.00    0.00     57.70   39.13     3.17
521 - 540                           0.59     3.06     5.39      90.97      0.00   0.00    0.00     56.38   40.39     3.23
520 & Below                         0.80     4.08     6.20      87.28      1.62   0.00    0.00     67.87   27.27     4.86
                                    ----     ----     ----      -----      ----   ----    ----     -----   -----     ----
TOTAL:                              1.11     2.80     4.32      86.89      3.86   0.67    0.36     41.02   54.68     4.31
                                    ====     ====     ====      =====      ====   ====    ====     =====   =====     ====


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

FICO                            2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
----                            ------  ------  ------  ------  -------  --------  --------

581 & Above                       0.07    0.10   24.28    0.00     0.17     45.67      8.79
561 - 580                         0.00    0.00    2.94    0.00     0.00     43.46     11.28
541 - 560                         0.00    0.00    0.53    0.00     0.00     44.18     13.03
521 - 540                         0.00    0.00    0.00    0.00     0.00     37.65     11.89
520 & Below                       0.00    0.00    0.56    0.00     0.00     49.46     18.40
                                  ----    ----   -----    ----     ----     -----     -----
TOTAL:                            0.05    0.08   19.21    0.00     0.13     45.22      9.80
                                  ====    ====   =====    ====     ====     =====     =====


2. LTV








LTV                             WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
---                             ------  -----  ----------  ------------------  ---------  --------------  ------

80.00 & Below                      626     76       2,619          218,177.79      68.44  571,407,632.36   8.188
80.01 - 85.00                      606     85         437          200,915.79      10.52   87,800,198.45   8.668
85.01 - 90.00                      627     90         449          218,560.55      11.75   98,133,687.14   8.684
90.01 - 95.00                      643     95         194          202,342.02       4.70   39,254,352.82   8.969
95.01 - 100.00                     652    100         508           75,469.35       4.59   38,338,430.39  10.898
                                   ---    ---       -----          ----------     ------  --------------  ------
TOTAL:                             626     80       4,207          198,463.11     100.00  834,934,301.16   8.458
                                   ===    ===       =====          ==========     ======  ==============  ======


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
LTV                              below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
---                             -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

80.00 & Below                      5.90     5.89     5.66     6.33    76.22   100.00      0.00      0.00       0.00     0.00
80.01 - 85.00                      5.60     7.60    10.07    10.21    66.52   100.00      0.00      0.00       0.00     0.00
85.01 - 90.00                      0.22     0.40     4.66     8.63    86.08     0.00    100.00      0.00       0.00     0.00
90.01 - 95.00                      0.00     0.42     1.69     5.77    92.13     0.00      0.00    100.00       0.00     0.00
95.01 - 100.00                     0.19     0.00     0.66     2.36    96.80     0.00      0.00      0.00     100.00     0.00
                                   ----     ----    -----    -----    -----   ------    ------    ------     ------     ----
TOTAL:                             4.66     4.90     5.59     6.80    78.05    78.95     11.75      4.70       4.59     0.00
                                   ====     ====    =====    =====    =====   ======    ======    ======     ======     ====


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
LTV                               below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
---                             --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

80.00 & Below                       0.24     1.80     3.36      90.06      3.77   0.42    0.35     38.08   57.96     3.95
80.01 - 85.00                       0.48     1.83     5.09      87.11      4.60   0.88    0.00     47.64   47.18     5.18
85.01 - 90.00                       0.34     1.89     4.79      84.83      4.69   2.46    1.01     46.88   48.05     5.07
90.01 - 95.00                       1.10     3.29     2.48      89.59      3.55   0.00    0.00     59.42   36.91     3.67
95.01 - 100.00                     17.50    21.79    17.47      41.57      1.67   0.00    0.00     35.71   57.96     6.33
                                   -----    -----    -----      -----      ----   ----    ----     -----   -----     ----
TOTAL:                              1.11     2.80     4.32      86.89      3.86   0.67    0.36     41.02   54.68     4.31
                                   =====    =====    =====      =====      ====   ====    ====     =====   =====     ====


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

LTV                             2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
---                             ------  ------  ------  ------  -------  --------  --------

80.00 & Below                     0.08    0.11   21.67    0.00     0.16     45.11      9.91
80.01 - 85.00                     0.00    0.00   14.31    0.00     0.00     39.50      7.11
85.01 - 90.00                     0.00    0.00   17.83    0.00     0.16     47.26     12.26
90.01 - 95.00                     0.00    0.00   15.66    0.00     0.00     51.28     11.25
95.01 - 100.00                    0.00    0.00    0.86    0.00     0.00     48.64      6.55
                                  ----    ----   -----    ----     ----     -----     -----
TOTAL:                            0.05    0.08   19.21    0.00     0.13     45.22      9.80
                                  ====    ====   =====    ====     ====     =====     =====


3. DTI








DTI                             WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
---                             ------  -----  ----------  ------------------  ---------  --------------  ------

<= 39.999                          620     79       1,301          172,562.70      26.89  224,504,076.65   8.462
40.000 - 44.999                    634     80       1,118          207,973.25      27.85  232,514,090.37   8.425
45.000 - 49.999                    629     81       1,391          212,558.05      35.41  295,668,243.94   8.488
50.000 - 54.999                    610     80         369          201,587.67       8.91   74,385,848.61   8.482
55.000 >=                          619     79          28          280,787.20       0.94    7,862,041.59   7.994
                                   ---    ---       -----          ----------     ------  --------------   -----
TOTAL:                             626     80       4,207          198,463.11     100.00  834,934,301.16   8.458
                                   ===    ===       =====          ==========     ======  ==============   =====


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
DTI                              below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
---                             -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

<= 39.999                          4.84     6.53     6.54     7.27    74.83    79.30     12.73      4.28       3.69     0.00
40.000 - 44.999                    3.78     4.66     4.89     6.80    79.87    81.03      9.97      4.10       4.91     0.00
45.000 - 49.999                    4.09     3.56     4.92     6.18    81.25    77.66     11.61      5.27       5.46     0.00
50.000 - 54.999                    9.07     5.06     7.64     8.62    69.62    75.98     14.85      6.11       3.06     0.00
55.000 >=                          5.22    14.01     5.11     0.00    75.67    84.42     12.57      0.00       3.00     0.00
                                   ----    -----     ----     ----    -----    -----     -----      ----       ----     ----
TOTAL:                             4.66     4.90     5.59     6.80    78.05    78.95     11.75      4.70       4.59     0.00
                                   ====    =====     ====     ====    =====    =====     =====      ====       ====     ====


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
DTI                               below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
---                             --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

<= 39.999                           1.69     4.34     6.50      81.58      4.25   0.76    0.89     49.77   43.89     6.34
40.000 - 44.999                     0.88     2.41     3.19      89.74      3.12   0.67    0.00     31.51   65.33     3.15
45.000 - 49.999                     0.95     2.16     3.73      88.13      4.25   0.79    0.00     36.17   59.80     4.02
50.000 - 54.999                     0.82     2.12     3.81      90.42      2.83   0.00    0.00     60.78   35.97     3.25
55.000 >=                           0.62     0.92     2.20      74.15      9.53   0.00   12.57     67.22   31.41     1.37
                                    ----     ----     ----      -----      ----   ----   -----     -----   -----     ----
TOTAL:                              1.11     2.80     4.32      86.89      3.86   0.67    0.36     41.02   54.68     4.31
                                    ====     ====     ====      =====      ====   ====   =====     =====   =====     ====


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

DTI                             2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
---                             ------  ------  ------  ------  -------  --------  --------

<= 39.999                         0.19    0.09   16.87    0.00     0.29      0.00      0.00
40.000 - 44.999                   0.00    0.19   21.57    0.00     0.11      0.00      0.00
45.000 - 49.999                   0.00    0.00   21.02    0.00     0.06     99.88      0.00
50.000 - 54.999                   0.00    0.00   12.32    0.00     0.00    100.00     99.42
55.000 >=                         0.00    0.00   13.02    0.00     0.00    100.00    100.00
                                  ----    ----   -----    ----     ----    ------    ------
TOTAL:                            0.05    0.08   19.21    0.00     0.13     45.22      9.80
                                  ====    ====   =====    ====     ====    ======    ======


4. OCCUPANCY TYPE








OCCUPANCY TYPE                  WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
--------------                  ------  -----  ----------  ------------------  ---------  --------------  ------

Primary Residence                  624     80       3,860          200,159.15      92.54  772,614,335.34   8.414
Investment Property                652     82         294          168,888.62       5.95   49,653,254.04   9.026
Second Home                        652     83          53          238,994.56       1.52   12,666,711.78   8.902
                                   ---    ---       -----          ----------     ------  --------------   -----
TOTAL:                             626     80       4,207          198,463.11     100.00  834,934,301.16   8.458
                                   ===    ===       =====          ==========     ======  ==============   =====


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
OCCUPANCY TYPE                   below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
--------------                  -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

Primary Residence                  4.98     5.19     5.86     7.14    76.84    80.30     10.89      3.89       4.92     0.00
Investment Property                0.40     1.56     1.86     3.05    93.13    59.56     25.82     14.62       0.00     0.00
Second Home                        1.89     0.00     3.92     1.20    92.98    72.72      9.40     15.25       2.64     0.00
                                   ----     ----     ----     ----    -----    -----     -----     -----       ----     ----
TOTAL:                             4.66     4.90     5.59     6.80    78.05    78.95     11.75      4.70       4.59     0.00
                                   ====     ====     ====     ====    =====    =====     =====     =====       ====     ====


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
OCCUPANCY TYPE                    below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
--------------                  --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

Primary Residence                   1.11     2.65     4.15      87.57      3.62   0.51    0.39     41.50   54.37     4.13
Investment Property                 1.27     5.35     7.83      78.22      5.78   1.55    0.00     35.11   56.63     8.25
Second Home                         0.72     2.03     0.70      79.07     10.78   6.71    0.00     34.62   65.38     0.00
                                    ----     ----     ----      -----     -----   ----    ----     -----   -----     ----
TOTAL:                              1.11     2.80     4.32      86.89      3.86   0.67    0.36     41.02   54.68     4.31
                                    ====     ====     ====      =====     =====   ====    ====     =====   =====     ====


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

OCCUPANCY TYPE                  2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
--------------                  ------  ------  ------  ------  -------  --------  --------

Primary Residence                 0.06    0.08   20.31    0.00     0.12     45.36      9.54
Investment Property               0.00    0.00    3.59    0.00     0.00     39.43     12.15
Second Home                       0.00    0.00   12.76    0.00     1.47     59.66     16.11
                                  ----    ----   -----    ----     ----     -----     -----
TOTAL:                            0.05    0.08   19.21    0.00     0.13     45.22      9.80
                                  ====    ====   =====    ====     ====     =====     =====


5. WAC








WAC                             WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
---                             ------  -----  ----------  ------------------  ---------  --------------  ------

<= 6.999                           660     76         264          264,533.48       8.36   69,836,839.15   6.714
7.000 - 7.999                      646     79       1,139          253,163.65      34.54  288,353,398.85   7.616
8.000 - 8.999                      620     80       1,232          207,972.66      30.69  256,222,316.76   8.530
9.000 - 9.999                      595     81         809          178,530.50      17.30  144,431,178.44   9.514
10.000 - 10.999                    588     85         388          122,183.72       5.68   47,407,285.26  10.501
11.000 >=                          617     92         375           76,488.75       3.44   28,683,282.70  11.843
                                   ---    ---       -----          ----------     ------  --------------  ------
TOTAL:                             626     80       4,207          198,463.11     100.00  834,934,301.16   8.458
                                   ===    ===       =====          ==========     ======  ==============  ======


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
WAC                              below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
---                             -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

<= 6.999                           0.36     0.39     0.47     1.36    97.43    94.26      4.95      0.39       0.41     0.00
7.000 - 7.999                      0.91     1.23     2.46     3.44    91.97    87.21      9.18      3.18       0.42     0.00
8.000 - 8.999                      3.67     4.63     6.51    10.20    74.99    81.13     12.59      4.69       1.58     0.00
9.000 - 9.999                     12.07    11.46    11.02     9.68    55.78    70.50     18.19      8.35       2.96     0.00
10.000 - 10.999                   16.29    12.71    10.72    10.27    50.01    54.15     18.27      9.44      18.15     0.00
11.000 >=                          5.13     9.16     5.57     3.41    76.73    22.76      3.50      4.37      69.37     0.00
                                  -----    -----    -----    -----    -----    -----     -----      ----      -----     ----
TOTAL:                             4.66     4.90     5.59     6.80    78.05    78.95     11.75      4.70       4.59     0.00
                                  =====    =====    =====    =====    =====    =====     =====      ====      =====     ====


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
WAC                               below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
---                             --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

<= 6.999                            0.00     0.10     0.88      93.75      3.85   0.00    1.42     64.90   27.69     7.41
7.000 - 7.999                       0.03     0.66     2.14      91.82      4.44   0.57    0.34     44.16   51.28     4.56
8.000 - 8.999                       0.25     1.69     4.11      88.78      3.85   0.94    0.39     36.78   59.53     3.70
9.000 - 9.999                       1.07     3.48     6.11      84.44      3.82   1.08    0.00     34.18   62.36     3.46
10.000 - 10.999                     3.88    11.55    11.86      69.84      2.87   0.00    0.00     39.93   55.10     4.97
11.000 >=                          17.98    22.93    14.95      44.14      0.00   0.00    0.00     25.33   71.79     2.88
                                   -----    -----    -----      -----      ----   ----    ----     -----   -----     ----
TOTAL:                              1.11     2.80     4.32      86.89      3.86   0.67    0.36     41.02   54.68     4.31
                                   =====    =====    =====      =====      ====   ====    ====     =====   =====     ====


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

WAC                             2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
---                             ------  ------  ------  ------  -------  --------  --------

<= 6.999                          0.32    0.00   36.39    0.00     0.47     45.43     12.05
7.000 - 7.999                     0.00    0.15   29.35    0.00     0.03     44.63      9.28
8.000 - 8.999                     0.08    0.08   14.66    0.00     0.26     43.76      9.41
9.000 - 9.999                     0.00    0.00    8.05    0.00     0.00     49.42     11.07
10.000 - 10.999                   0.00    0.00    2.35    0.00     0.00     40.47      8.92
11.000 >=                         0.00    0.00    0.00    0.00     0.00     50.40      8.12
                                  ----    ----   -----    ----     ----     -----     -----
TOTAL:                            0.05    0.08   19.21    0.00     0.13     45.22      9.80
                                  ====    ====   =====    ====     ====     =====     =====


6. IO TYPE








IO TYPE                         WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
-------                         ------  -----  ----------  ------------------  ---------  --------------  ------

0                                  618     80       3,676          182,923.37      80.54  672,426,295.29   8.626
2 Yr IO                            606     79           2          215,700.00       0.05      431,400.00   7.225
3 Yr IO                            631     77           3          213,166.67       0.08      639,500.00   7.938
5 Yr IO                            659     81         521          307,773.48      19.21  160,349,980.87   7.764
7 Yr IO
                                   ---    ---       -----          ----------      -----  --------------   -----
10 Yr IO                           643     81           5          217,425.00       0.13    1,087,125.00   7.638
                                   ===    ===       =====          ==========      =====  ==============   =====


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                540 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
IO TYPE                          below   540-580  580-620  620-660   above   & below  85.01-90  90.01-95  95.01-100  100.01+
-------                         -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

0                                 11.83    15.10    22.60    27.95    22.51    77.46     11.97      4.92       5.65     0.00
2 Yr IO                            0.00     0.00    51.23    48.77     0.00   100.00      0.00      0.00       0.00     0.00
3 Yr IO                            0.00     0.00    64.35     0.00    35.65   100.00      0.00      0.00       0.00     0.00
5 Yr IO                            0.13     1.20    19.19    37.28    42.19    85.05     10.91      3.83       0.21     0.00
7 Yr IO
                                  -----    -----    -----   ------    -----   ------     -----      ----       ----     ----
10 Yr IO                           0.00     0.00     0.00   100.00     0.00    85.52     14.48      0.00       0.00     0.00
                                  =====    =====    =====   ======    =====   ======     =====      ====       ====     ====


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
IO TYPE                           below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
-------                         --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

0                                   1.38     3.47     5.23      85.70      3.46   0.47    0.29     41.93   54.10     3.98
2 Yr IO                             0.00     0.00     0.00     100.00      0.00   0.00    0.00     51.23   48.77     0.00
3 Yr IO                             0.00     0.00     0.00     100.00      0.00   0.00    0.00     35.65   64.35     0.00
5 Yr IO                             0.00     0.05     0.49      91.74      5.59   1.50    0.62     37.04   57.19     5.77
7 Yr IO
                                    ----     ----     ----     ------      ----   ----    ----     -----   -----     ----
10 Yr IO                            0.00     0.00     8.46      91.54      0.00   0.00    0.00     62.10   37.90     0.00
                                    ====     ====     ====     ======      ====   ====    ====     =====   =====     ====


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

IO TYPE                         2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
-------                         ------  ------  ------  ------  -------  --------  --------

0                                 0.00    0.00    0.00    0.00     0.00     45.37     10.68
2 Yr IO                         100.00    0.00    0.00    0.00     0.00      0.00      0.00
3 Yr IO                           0.00  100.00    0.00    0.00     0.00      0.00      0.00
5 Yr IO                           0.00    0.00  100.00    0.00     0.00     45.11      6.24
7 Yr IO
                                ------  ------  ------    ----   ------     -----     -----
10 Yr IO                          0.00    0.00    0.00    0.00   100.00     17.17      0.00
                                ======  ======  ======    ====   ======     =====     =====


7. DOCTYPE








DOCTYPE                         WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
-------                         ------  -----  ----------  ------------------  ---------  --------------  ------

3- Stated doc                      641     80       2,137          213,617.89      54.68  456,501,438.28   8.630
5- Full doc 2yr W2/tax returns     607     80       1,897          180,522.46      41.02  342,451,104.45   8.246
4- Limited                         619     82         173          207,987.04       4.31   35,981,758.43   8.300
1- Full doc 1yr W2
Light 6 mos bk stmt
No Documentations


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
DOCTYPE                          below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
-------                         -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

3- Stated doc                      2.32     3.62     4.00     5.25    84.81    81.63     10.33      3.17       4.87     0.00
5- Full doc 2yr W2/tax returns     7.71     6.73     7.87     8.76    68.93    75.76     13.43      6.81       4.00     0.00
4- Limited                         5.26     3.67     4.12     7.90    79.06    75.43     13.82      4.01       6.74     0.00
1- Full doc 1yr W2
Light 6 mos bk stmt
No Documentations


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
DOCTYPE                           below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
-------                         --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

3- Stated doc                       1.12     2.44     3.43      87.42      4.51   0.85    0.22      0.00  100.00     0.00
5- Full doc 2yr W2/tax returns      1.01     3.40     5.60      85.73      3.19   0.50    0.58    100.00    0.00     0.00
4- Limited                          1.99     1.61     3.31      91.10      1.99   0.00    0.00      0.00    0.00   100.00
1- Full doc 1yr W2
Light 6 mos bk stmt
No Documentations


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

DOCTYPE                         2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
-------                         ------  ------  ------  ------  -------  --------  --------

3- Stated doc                     0.05    0.09   20.09    0.00     0.09     45.06      6.40
5- Full doc 2yr W2/tax returns    0.06    0.07   17.34    0.00     0.20     45.98     14.62
4- Limited                        0.00    0.00   25.71    0.00     0.00     40.07      7.02
1- Full doc 1yr W2
Light 6 mos bk stmt
No Documentations


8. OTHERS








OTHERS                          WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
------                          ------  -----  ----------  ------------------  ---------  --------------  ------

Manufactured Housing
2nd Lien                           657    100         460           63,421.28       3.49   29,173,788.93  11.483
< 100K                             618     85       1,027           66,893.10       8.23   68,699,210.72   9.840
> 650K                             657     81          38          743,420.71       3.38   28,249,986.93   8.160
Ohio                               596     84          50           99,176.16       0.59    4,958,808.03   9.482
Nevada                             636     82          93          213,728.88       2.38   19,876,786.01   8.152
North CA                           641     80         276          295,870.54       9.78   81,660,268.11   8.138
South CA                           641     80         639          296,386.42      22.68  189,390,921.73   8.178
Top 10 Loans                       670     82          10          856,259.27       1.03    8,562,592.69   8.240


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
                                -------------------------------------------  -----------------------------------------------
                                520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
OTHERS                           below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
------                          -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

Manufactured Housing
2nd Lien                           0.25     0.00     0.00     0.62    99.14     1.02      0.52      2.16      96.29     0.00
< 100K                             6.28     5.37     6.46     7.14    74.74    54.38     10.02      3.92      31.68     0.00
> 650K                             0.00     0.00     0.00     7.37    92.63    80.19     17.16      2.65       0.00     0.00
Ohio                               7.84     3.67    15.64    11.38    61.48    62.41     19.38     14.80       3.41     0.00
Nevada                             0.00     1.41     4.54     6.60    87.46    78.01      8.82      8.94       4.23     0.00
North CA                           1.80     3.82     2.10     5.24    87.04    81.43     10.16      2.98       5.44     0.00
South CA                           3.55     2.56     2.48     3.64    87.77    79.60     10.41      4.21       5.78     0.00
Top 10 Loans                       0.00     0.00     0.00     0.00   100.00    60.32     39.68      0.00       0.00     0.00


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
                                --------------------------------------------------------------  -------------------------
                                $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
OTHERS                            below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
------                          --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

Manufactured Housing
2nd Lien                           24.18    28.61    18.74      28.47      0.00   0.00    0.00     22.77   70.54     6.70
< 100K                             13.51    34.02    52.46       0.00      0.00   0.00    0.00     49.89   46.49     3.62
> 650K                              0.00     0.00     0.00       0.00     69.69  19.77   10.54     40.49   56.98     2.54
Ohio                                2.61    19.31    24.02      54.06      0.00   0.00    0.00     69.66   27.50     2.84
Nevada                              1.18     3.09     0.47      91.96      3.30   0.00    0.00     34.80   57.46     7.74
North CA                            0.21     1.06     1.28      90.74      5.66   1.04    0.00     20.06   74.05     5.88
South CA                            0.42     1.30     1.77      85.71      8.61   1.68    0.52     34.90   59.90     5.20
Top 10 Loans                        0.00     0.00     0.00       0.00      0.00  65.23   34.77     43.00   57.00     0.00


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
                                ---------------------------------------  ------------------

OTHERS                          2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
------                          ------  ------  ------  ------  -------  --------  --------

Manufactured Housing
2nd Lien                          0.00    0.00    0.00    0.00     0.00     49.58      7.28
< 100K                            0.00    0.00    1.25    0.00     0.13     37.14      7.74
> 650K                            0.00    0.00   24.04    0.00     0.00     44.36     11.43
Ohio                              0.00    0.00    9.90    0.00     0.00     44.40     14.17
Nevada                            1.11    0.00   31.23    0.00     0.00     47.79     17.54
North CA                          0.00    0.00   33.47    0.00     0.00     47.39      7.22
South CA                          0.00    0.11   32.21    0.00     0.17     47.00     10.81
Top 10 Loans                      0.00    0.00   39.82    0.00     0.00     38.80     11.54


9. CREDIT GRADES






CREDIT GRADES
please use Relevant
Credit Grades of Originator     WAFICO  WALTV  Loan Count  $ Avge Loan Amount  % of Pool   Agg $ Balance    WAC
---------------------------     ------  -----  ----------  ------------------  ---------  --------------  ------

NG                                 592     80          49          148,604.84       0.87    7,281,637.22   8.641
A                                  653     80         731          193,954.32      16.98  141,780,606.54   8.243
Ax                                 616     78           8          198,529.77       0.19    1,588,238.12   9.610
A1                                 669     85          33          160,813.36       0.64    5,306,840.77   8.651
AA                                 637     81         653          251,652.75      19.68  164,329,244.63   8.097
AA 80/20                           629    100           2           51,988.88       0.01      103,977.75  11.448
AAA                                708     81          66          251,000.96       1.98   16,566,063.46   7.798
AA+                                659     86           9          248,646.02       0.27    2,237,814.15   8.034
AX                                 604     83          22          143,764.19       0.38    3,162,812.20   8.899
A-                                 629     81         728          173,563.90      15.13  126,354,520.09   8.486
A+                                 643     82         811          213,946.08      20.78  173,510,269.25   8.373
B                                  576     78         339          184,443.32       7.49   62,526,284.72   8.934
B-                                 563     79         177          163,184.08       3.46   28,883,581.85   8.920
B+                                 609     82         200          180,316.26       4.32   36,063,251.50   8.472
C                                  540     71         181          173,935.24       3.77   31,482,278.85   9.564
C-                                 545     67          10          175,107.10       0.21    1,751,070.96  10.371
C+                                 537     74         128          166,912.28       2.56   21,364,771.87   9.455
D                                  560     63          10          187,787.96       0.22    1,877,879.60  10.593
Tier 1                             654     81          38          160,064.27       0.73    6,082,442.25   8.258
Tier 2                             570     84           5          305,808.36       0.18    1,529,041.80   8.853
Tier 3                             554     74           2          105,129.69       0.03      210,259.38   8.836
Tier 4                             541     68           5          188,282.84       0.11      941,414.20   9.279


                                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                --------------------------------------------------------------------------------------------
                                                    FICO                                           LTV
CREDIT GRADES                   -------------------------------------------  -----------------------------------------------
please use Relevant             520 and                             581 and  85% LTV     LTV       LTV       LTV       LTV
Credit Grades of Originator      below   521-540  541-560  561-580   above   & below  85.01-90  90.01-95  95.01-100  100.01+
---------------------------     -------  -------  -------  -------  -------  -------  --------  --------  ---------  -------

NG                                11.30    14.83    13.69     5.10    55.08    86.82      3.43      2.40       7.34     0.00
A                                  4.67     3.97     2.64     4.19    84.53    86.49      5.40      3.04       5.07     0.00
Ax                                11.65     0.00     0.00     0.00    88.35    88.16     11.84      0.00       0.00     0.00
A1                                 0.00     0.00     2.73    13.48    83.79    50.65     21.70      0.00      27.65     0.00
AA                                 0.99     1.65     3.48     4.76    89.12    73.96     16.75      8.02       1.27     0.00
AA 80/20                           0.00     0.00     0.00     0.00   100.00     0.00      0.00      0.00     100.00     0.00
AAA                                0.00     0.00     0.00     0.00   100.00    88.70      4.92      6.38       0.00     0.00
AA+                                0.00     0.00     0.00     0.00   100.00    39.24     38.69     22.07       0.00     0.00
AX                                 3.63     2.10     9.42    12.21    72.63    72.46     13.16      9.24       5.15     0.00
A-                                 2.94     2.21     1.69     0.70    92.46    81.53      6.79      2.87       8.81     0.00
A+                                 2.09     2.28     3.89     3.62    88.12    73.35     13.79      6.86       5.99     0.00
B                                  7.47     7.65     6.65    24.19    54.04    77.31     15.37      4.27       3.05     0.00
B-                                 0.00     0.92    36.14    60.22     2.73    75.36     24.06      0.58       0.00     0.00
B+                                 0.08     0.00     0.00     0.00    99.92    67.80     21.86      3.65       6.70     0.00
C                                 50.37    17.75     7.21     5.27    19.40    99.50      0.50      0.00       0.00     0.00
C-                                25.97    21.81    28.92     0.00    23.30   100.00      0.00      0.00       0.00     0.00
C+                                 0.62    58.59    40.48     0.31     0.00    96.14      3.86      0.00       0.00     0.00
D                                 17.57    22.27    25.52     8.65    25.98   100.00      0.00      0.00       0.00     0.00
Tier 1                             0.00     0.00     0.00     0.00   100.00    74.09     11.03      0.97      13.90     0.00
Tier 2                            19.82    26.12    11.11     0.00    42.95    57.05     36.45      0.00       6.50     0.00
Tier 3                            53.13     0.00     0.00     0.00    46.87    53.13     46.87      0.00       0.00     0.00
Tier 4                            32.11    31.22    25.02     0.00    11.64   100.00      0.00      0.00       0.00     0.00


                                                            PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------------------------------------
                                                          LOAN AMOUNT                                 DOCUMENTATION
CREDIT GRADES                   --------------------------------------------------------------  -------------------------
please use Relevant             $50K and  $50.01-  $75.01-  $100.01 -  $600.01-  $750-                    Stated  Limited
Credit Grades of Originator       below     75K      100K     $600K      750K     900K  >$900K  Full Doc    Doc     Doc
---------------------------     --------  -------  -------  ---------  --------  -----  ------  --------  ------  -------

NG                                  4.84     5.74     7.15      82.28      0.00   0.00    0.00     36.60   54.85     8.55
A                                   1.64     2.54     3.70      90.71      1.41   0.00    0.00     26.40   67.16     6.45
Ax                                  0.00     0.00    15.65      45.61     38.74   0.00    0.00     34.73   65.27     0.00
A1                                  1.42     5.82    14.86      77.90      0.00   0.00    0.00     31.49   64.32     4.19
AA                                  0.26     1.51     2.10      84.53      8.72   2.88    0.00     45.04   51.66     3.29
AA 80/20                           28.09    71.91     0.00       0.00      0.00   0.00    0.00     28.09   71.91     0.00
AAA                                 0.00     0.71     1.12      94.45      3.72   0.00    0.00     32.57   67.43     0.00
AA+                                 0.00     0.00     0.00     100.00      0.00   0.00    0.00     21.96   78.04     0.00
AX                                  1.52     3.99     7.74      86.76      0.00   0.00    0.00     62.24   37.76     0.00
A-                                  2.40     4.30     6.05      85.69      1.57   0.00    0.00     30.05   66.53     3.42
A+                                  0.96     2.98     3.06      85.83      4.97   0.49    1.72     43.93   53.74     2.33
B                                   0.36     2.44     6.60      86.12      4.48   0.00    0.00     53.24   41.57     5.19
B-                                  0.00     3.66     9.52      86.82      0.00   0.00    0.00     62.48   33.70     3.82
B+                                  1.75     2.63     6.75      85.40      3.48   0.00    0.00     41.03   47.32    11.65
C                                   0.28     4.15     3.11      92.45      0.00   0.00    0.00     70.17   25.88     3.94
C-                                  0.00     0.00     0.00     100.00      0.00   0.00    0.00    100.00    0.00     0.00
C+                                  0.00     2.82     8.22      88.96      0.00   0.00    0.00     49.39   48.13     2.47
D                                   0.00     0.00     0.00     100.00      0.00   0.00    0.00     78.21   21.79     0.00
Tier 1                              5.30     3.72     2.59      88.39      0.00   0.00    0.00     25.31   43.51    31.18
Tier 2                              0.00     0.00     6.50      93.50      0.00   0.00    0.00     19.82   80.18     0.00
Tier 3                              0.00     0.00    46.87      53.13      0.00   0.00    0.00    100.00    0.00     0.00
Tier 4                              5.30     0.00     0.00      94.70      0.00   0.00    0.00      0.00  100.00     0.00


                                             PERCENTAGE OF AGGREGATE COLLATERAL
                                -----------------------------------------------------------
                                             INTEREST ONLY                       DTI
CREDIT GRADES                   ---------------------------------------  ------------------
please use Relevant
Credit Grades of Originator     2yr IO  3yr IO  5yr IO  7yr IO  10yr IO  DTI > 45  DTI > 50
---------------------------     ------  ------  ------  ------  -------  --------  --------

NG                                0.00    0.00   16.43    0.00     4.39     49.23     14.71
A                                 0.00    0.00   26.22    0.00     0.00     41.27      6.44
Ax                                0.00    0.00    0.00    0.00     0.00     84.35      0.00
A1                                0.00    0.00   35.95    0.00     0.00     54.80     10.14
AA                                0.13    0.14   25.08    0.00     0.00     47.14      9.16
AA 80/20                          0.00    0.00    0.00    0.00     0.00     71.91      0.00
AAA                               0.00    0.00   34.69    0.00     0.00     33.66      8.44
AA+                               0.00    0.00   12.31    0.00     0.00     51.50      9.65
AX                                0.00    0.00    8.67    0.00     0.00     19.28      0.00
A-                                0.17    0.00   19.37    0.00     0.00     57.38     11.24
A+                                0.00    0.00   21.75    0.00     0.44     34.32      7.70
B                                 0.00    0.00    1.70    0.00     0.00     45.62     11.07
B-                                0.00    0.00    0.00    0.00     0.00     48.66     19.55
B+                                0.00    1.14   20.67    0.00     0.00     54.46     12.55
C                                 0.00    0.00    0.00    0.00     0.00     54.56     18.23
C-                                0.00    0.00    0.00    0.00     0.00     33.38     26.74
C+                                0.00    0.00    0.00    0.00     0.00     45.56     13.37
D                                 0.00    0.00    0.00    0.00     0.00     30.42      0.00
Tier 1                            0.00    0.00   30.12    0.00     0.00     43.19      2.60
Tier 2                            0.00    0.00    0.00    0.00     0.00     67.38     30.93
Tier 3                            0.00    0.00    0.00    0.00     0.00      0.00      0.00
Tier 4                            0.00    0.00    0.00    0.00     0.00     37.41      5.30


10.  TOP 10 MSAS



                                                   $ Avge                                                 Wtd
                                          Loan      Loan       % of                            Wtd Avg    AVg
Top 10 MSA                               Count     Amount      Pool    Agg $ Balance    WAC      LTV     FICO
----------                               -----   ----------   -----   --------------   -----   -------   ------

Los Angeles-Riverside-Orange County-CA     517   315,016.41   19.51   162,863,484.63   8.181     80.41   641.31
Chicago-Gary-Kenosha-IL-IN-WI              301   180,947.66    6.52    54,465,245.66   8.733     81.54   622.48
New York-Northern New Jersey-Long
   Island-NY-NJ-CT-PA                      160   334,293.80    6.41    53,487,008.08   8.247     76.35   641.53
Unknown                                    330   149,921.96    5.93    49,474,247.96   8.753     80.07   609.65
Miami-Fort Lauderdale-FL                   246   193,394.89    5.70    47,575,143.56   8.477     78.92   627.44
San Francisco-Oakland-San Jose-CA          105   382,247.05    4.81    40,135,940.15   7.967     78.26   648.53
Washington-Baltimore-DC-MD-VA-WV           141   237,738.27    4.01    33,521,095.42   8.353     77.22   615.40
Phoenix-Mesa-AZ                            145   189,386.31    3.29    27,461,015.22   8.505     79.17   614.40
Las Vegas-NV-AZ                             87   212,707.72    2.22    18,505,571.49   8.143     81.44   637.64
Boston-Worcester-Lawrence-MA-NH-ME-CT       73   237,957.45    2.08    17,370,893.72   8.710     80.64   615.42
Other                                    2,102   157,028.86   39.53   330,074,655.27   8.608     81.06   618.00


This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.



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IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------

Summary Statistics
--------------------------------------------------------------------------------
Number of Mortgage Loans: 4,207
Total Current Balance: 834,934,301.16
Weighted Average Coupon: 8.458
Weighted Average Seasoning: 3.1
Wtd/Avg/Comb/Orig/LTV: 80.13
Wtd/Avg/Comb/Orig/Simultaneous/Second/LTV: 87.42
Wtd/Avg/Comb/Orig/True/SS/LTV: 86.82
% Cash-out Refinance: 52.4
% Full Documentation: 41.0
% Owner Occupied: 92.5
% First Lien: 96.5
% Loans with Prepay Penalty (using term): 74.0
% IO Loans: 19.5
Wtd/Avg/FICO: 626
Maximum Balance: 1,000,000.00
Minimum Balance: 14,773.89
Average Current Balance: 198,463.11
Total Original Balance: 836,093,239.30
Weighted Average Net Coupon: 7.938
Maximum Coupon: 14.240
Minimum Coupon: 5.700
Weighted Average Margin: 6.361
Weighted Average Maximum Rate: 15.071
Weighted Average Months to Roll: 23
Weighted Average Original Term: 354.0
Weighted Average Stated Remaining Term: 350.8
Weighted Average Stated Remaining Term- ARM: 356.9
Weighted Average Stated Remaining Term- FR: 311.0
Weighted Average Calculated Remaining Term: 395.3
Weighted Average Original LTV: 77.35
Weighted Average Current LTV: 77.26
Top 5 States: CA(32%),FL(14%),IL(7%),NY(5%),AZ(4%)
% Fixed: 13.2
Wtd/Avg/DTI: 42.79
% Section 32: 0.00
% Alt B High: 7.23
% Alt B Low: 22.69
% Alt B Ineligible: 70.08
% 40 yr Amort: 32.76

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 1 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------

Non Interest Only Arm
--------------------------------------------------------------------------------
COLLATERAL CHARACTERISTICS:
Principal Balance of Statistical Loan Group: 567,043,608.26
Pool Type:
% IO: 0.00
-Conforming Percentage: 84.66
-Non Conforming Percentage: 15.34
-Conforming Balance: 480,064,725.15
-Non Conforming Balance: 86,978,883.11
-Group 1 Percentage: 0.00
-Group 2 Percentage: 0.00
-Group 1 Balance: 0.00
-Group 2 Balance: 0.00
Number of Loans: 2709
Fixed/Floating:
-FRM Percentage: 0.00
-ARM Percentage: 100.00
-FRM Balance: 0.00
-ARM Balance: 567,043,608.26
Wtd Avg Coupon: 8.521
Wtd Avg Margin: 6.384
Wtd Avg Max Rate: 15.228
Wtd Avg Orig Term (mths): 360.00
Wtd Avg Std Rem Term (mths): 356.99
% Owner Occupied: 90.62
State Concentration (TOP 3): CA(28%),FL(15%),IL(8%)
Lien Composition:
% 1st Lien: 100.00
% 2nd Lien: 0.00
% 2-4 Family: 9.39
% Cashout Refinance: 55.65
% Purchase: 40.03
% Rate Term Refinance: 4.32
% Full Documentation: 40.39
% Stated Documentation: 55.80
% Limited Documentation: 3.81
% Other: 0.00
Wtd Avg FICO: 615.8
% FICO below 600 (inc. N/A): 38.05
% FICO below 550 (inc. N/A): 15.45
% FICO below 500 (inc. N/A): 0.00
% Prepay Penalty: 72.46
Wtd Avg Comb Orig LTV: 79.48
% CLTV > 80: 29.97
% CLTV > 90: 6.48
% CLTV > 95: 1.37
% CLTV > 100: 0.00
Wtd Avg Comb True Simultaneous Second Orig LTV: 86.28
% CLTV > 80: 63.69
% CLTV > 90: 41.07
% CLTV > 95: 34.52
% CLTV > 100: 0.00
% Alt B High: 6.10
% Alt B Low: 19.07
% Alt B Ineligible: 74.83
% 40 yr Amort: 45.64

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 2 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------

Interest only ARM
--------------------------------------------------------------------------------
COLLATERAL CHARACTERISTICS:
Principal Balance of Statistical Loan Group: 157,696,021.10
Pool Type:
% IO: 100.00
-Conforming Percentage: 69.73
-Non Conforming Percentage: 30.27
-Conforming Balance: 109,957,889.01
-Non Conforming Balance: 47,738,132.09
-Group 1 Percentage: 0.00
-Group 2 Percentage: 0.00
-Group 1 Balance: 0.00
-Group 2 Balance: 0.00
Number of Loans: 516
Fixed/Floating:
-FRM Percentage: 0.00
-ARM Percentage: 100.00
-FRM Balance: 0.00
-ARM Balance: 157,696,021.10
Wtd Avg Coupon: 7.771
Wtd Avg Margin: 6.280
Wtd Avg Max Rate: 14.508
Wtd Avg Orig Term (mths): 360.00
Wtd Avg Std Rem Term (mths): 356.56
% Owner Occupied: 97.93
State Concentration (TOP 3): CA(56%),FL(12%),AZ(5%)
Lien Composition:
% 1st Lien: 100.00
% 2nd Lien: 0.00
% 2-4 Family: 7.96
% Cashout Refinance: 36.88
% Purchase: 59.94
% Rate Term Refinance: 3.18
% Full Documentation: 36.95
% Stated Documentation: 57.18
% Limited Documentation: 5.87
% Other: 0.00
Wtd Avg FICO: 659.1
% FICO below 600 (inc. N/A): 2.75
% FICO below 550 (inc. N/A): 0.14
% FICO below 500 (inc. N/A): 0.00
% Prepay Penalty: 81.09
Wtd Avg Comb Orig LTV: 80.70
% CLTV > 80: 22.97
% CLTV > 90: 4.11
% CLTV > 95: 0.21
% CLTV > 100: 0.00
Wtd Avg Comb True Simultaneous Second Orig LTV: 93.60
% CLTV > 80: 87.40
% CLTV > 90: 69.25
% CLTV > 95: 61.70
% CLTV > 100: 0.00
% Alt B High: 11.29
% Alt B Low: 38.38
% Alt B Ineligible: 50.33
% 40 yr Amort: 0.00

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 3 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------

1st Lien Fixed
--------------------------------------------------------------------------------
COLLATERAL CHARACTERISTICS:
Principal Balance of Statistical Loan Group: 81,020,882.87
Pool Type:
% IO: 5.94
-Conforming Percentage: 91.59
-Non Conforming Percentage: 8.41
-Conforming Balance: 74,205,751.03
-Non Conforming Balance: 6,815,131.84
-Group 1 Percentage: 0.00
-Group 2 Percentage: 0.00
-Group 1 Balance: 0.00
-Group 2 Balance: 0.00
Number of Loans: 522
Fixed/Floating:
-FRM Percentage: 100.00
-ARM Percentage: 0.00
-FRM Balance: 81,020,882.87
-ARM Balance: 0.00
Wtd Avg Coupon: 8.266
Wtd Avg Margin: 0.000
Wtd Avg Max Rate: 0.000
Wtd Avg Orig Term (mths): 351.18
Wtd Avg Std Rem Term (mths): 348.13
% Owner Occupied: 92.96
State Concentration (TOP 3): CA(14%),NY(13%),FL(12%)
Lien Composition:
% 1st Lien: 100.00
% 2nd Lien: 0.00
% 2-4 Family: 11.70
% Cashout Refinance: 75.08
% Purchase: 12.35
% Rate Term Refinance: 12.57
% Full Documentation: 59.87
% Stated Documentation: 36.22
% Limited Documentation: 3.91
% Other: 0.00
Wtd Avg FICO: 621.7
% FICO below 600 (inc. N/A): 33.37
% FICO below 550 (inc. N/A): 15.38
% FICO below 500 (inc. N/A): 0.00
% Prepay Penalty: 71.35
Wtd Avg Comb Orig LTV: 76.64
% CLTV > 80: 35.16
% CLTV > 90: 7.00
% CLTV > 95: 2.64
% CLTV > 100: 0.00
Wtd Avg Comb True Simultaneous Second Orig LTV: 78.98
% CLTV > 80: 46.87
% CLTV > 90: 18.20
% CLTV > 95: 12.01
% CLTV > 100: 0.00
% Alt B High: 5.40
% Alt B Low: 7.73
% Alt B Ineligible: 86.87
% 40 yr Amort: 18.17

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 4 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------

2nd Lien
--------------------------------------------------------------------------------
COLLATERAL CHARACTERISTICS:
Principal Balance of Statistical Loan Group: 29,173,788.93
Pool Type:
% IO: 0.00
-Conforming Percentage: 57.20
-Non Conforming Percentage: 42.80
-Conforming Balance: 16,687,363.56
-Non Conforming Balance: 12,486,425.37
-Group 1 Percentage: 0.00
-Group 2 Percentage: 0.00
-Group 1 Balance: 0.00
-Group 2 Balance: 0.00
Number of Loans: 460
Fixed/Floating:
-FRM Percentage: 100.00
-ARM Percentage: 0.00
-FRM Balance: 29,173,788.93
-ARM Balance: 0.00
Wtd Avg Coupon: 11.483
Wtd Avg Margin: 0.000
Wtd Avg Max Rate: 0.000
Wtd Avg Orig Term (mths): 212.19
Wtd Avg Std Rem Term (mths): 208.02
% Owner Occupied: 99.38
State Concentration (TOP 3): CA(52%),FL(16%),IL(6%)
Lien Composition:
% 1st Lien: 0.00
% 2nd Lien: 100.00
% 2-4 Family: 9.56
% Cashout Refinance: 11.47
% Purchase: 87.82
% Rate Term Refinance: 0.70
% Full Documentation: 22.77
% Stated Documentation: 70.54
% Limited Documentation: 6.70
% Other: 0.00
Wtd Avg FICO: 657.4
% FICO below 600 (inc. N/A): 3.04
% FICO below 550 (inc. N/A): 0.25
% FICO below 500 (inc. N/A): 0.00
% Prepay Penalty: 73.36
Wtd Avg Comb Orig LTV: 99.52
% CLTV > 80: 98.98
% CLTV > 90: 98.46
% CLTV > 95: 96.29
% CLTV > 100: 0.00
Wtd Avg Comb True Simultaneous Second Orig LTV: 99.52
% CLTV > 80: 98.98
% CLTV > 90: 98.46
% CLTV > 95: 96.29
% CLTV > 100: 0.00
% Alt B High: 12.27
% Alt B Low: 49.68
% Alt B Ineligible: 38.05
% 40 yr Amort: 0.00

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 5 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                        Wtd
                          Number                  % of                                          Wtd     Avg
Combined                    of        Total      Total   Average     Total       Wtd     Wtd    Avg     Mos   Pct
Original                 Mortgage    Current    Current  Current    Original     Avg     Avg    Max     to    2nd
Loan-to-Value Ratio (%)    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll   Lien
------------------------------------------------------------------------------------------------------------------

<= 50.00                     133    20,566,600     2.46  154,636   20,603,344   8.107   6.304  14.744   24    0.00
50.01 - 60.00                125    21,617,057     2.59  172,936   21,658,369   8.145   6.279  14.858   24    0.00
60.01 - 70.00                314    60,586,977     7.26  192,952   60,808,430   8.669   6.502  15.311   24    0.00
70.01 - 75.00                288    60,082,262     7.20  208,619   60,171,424   8.471   6.599  15.136   24    0.50
75.01 - 80.00              1,759   408,554,737    48.93  232,265  408,985,962   8.082   6.312  14.867   23    0.00
80.01 - 85.00                437    87,800,198    10.52  200,916   87,920,854   8.668   6.339  15.361   24    0.00
85.01 - 90.00                449    98,133,687    11.75  218,561   98,255,369   8.684   6.398  15.303   23    0.15
90.01 - 95.00                194    39,254,353     4.70  202,342   39,293,988   8.969   6.337  15.658   23    1.61
95.01 - 100.00               508    38,338,430     4.59   75,469   38,395,500  10.898   6.425  16.070   26   73.28
------------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
------------------------------------------------------------------------------------------------------------------


                                            Wtd       Wtd
                                            Avg       Avg
                                 Wtd       Comb       Comb
                                 Avg       Orig       Orig
Combined                         Comb  Simultaneous   True    Pct     Pct   Pct
Original                  Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Loan-to-Value Ratio (%)  Fixed   LTV       LTV        LTV    Refi     Doc   Occ   Ratio  Score
----------------------------------------------------------------------------------------------

<= 50.00                 29.16  40.99      41.47     41.47    89.7   49.1   92.0  39.87   598
50.01 - 60.00            19.06  55.64      55.81     55.81    91.7   52.6   89.8  41.48   588
60.01 - 70.00            15.63  66.78      67.05     67.05    90.4   44.5   92.2  41.58   578
70.01 - 75.00            12.98  73.95      74.66     74.66    86.9   52.4   95.6  42.35   580
75.01 - 80.00             6.23  79.84      94.25     93.03    32.4   33.7   95.9  43.26   643
80.01 - 85.00            13.63  84.51      85.32     85.32    77.3   47.6   87.7  42.14   606
85.01 - 90.00            11.21  89.55      90.05     90.02    66.7   46.9   85.7  43.00   627
90.01 - 95.00            10.61  94.65      94.78     94.78    51.9   59.4   76.6  42.79   643
95.01 - 100.00           78.86  99.87      99.87     99.87    16.9   35.7   99.1  43.50   652
----------------------------------------------------------------------------------------------
Total:                   13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
----------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 80.13
***Does Not Include Silent Seconds





                                                                                                        Wtd
Combined                  Number                  % of                                           Wtd    Avg
Original                    of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos   Pct
Loan-to-Value Ratio (%)  Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to    2nd
Simultaneous Seconds      Loans      Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll  Lien
-----------------------------------------------------------------------------------------------------------------

<= 50.00                     132    20,167,125    2.42   152,781   20,203,344   8.107   6.304  14.744   24   0.00
50.01 - 60.00                124    21,383,518    2.56   172,448   21,424,369   8.145   6.264  14.854   24   0.00
60.01 - 70.00                312    59,989,842    7.18   192,275   60,210,830   8.681   6.536  15.321   24   0.00
70.01 - 75.00                280    58,446,358    7.00   208,737   58,533,624   8.465   6.598  15.136   24   0.51
75.01 - 80.00                525   109,142,126   13.07   207,890  109,284,179   8.475   6.422  15.201   25   0.00
80.01 - 85.00                412    83,279,910    9.97   202,136   83,394,899   8.637   6.348  15.332   25   0.00
85.01 - 90.00                427    96,959,378   11.61   227,071   97,080,869   8.634   6.354  15.240   23   0.16
90.01 - 95.00                256    54,684,766    6.55   213,612   54,737,379   8.627   6.295  15.355   23   1.15
95.01 - 100.00             1,739   330,881,279   39.63   190,271  331,223,747   8.328   6.296  14.844   23   8.49
-----------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301  100.00   198,463  836,093,239   8.458   6.361  15.071   23   3.49
-----------------------------------------------------------------------------------------------------------------


                                            Wtd       Wtd
                                            Avg       Avg
                                 Wtd       Comb       Comb
Combined                         Avg       Orig       Orig
Original                         Comb  Simultaneous   True    Pct     Pct   Pct
Loan-to-Value Ratio (%)   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Simultaneous Seconds     Fixed   LTV       LTV        LTV     Refi    Doc   Occ   Ratio  Score
----------------------------------------------------------------------------------------------

<= 50.00                 27.76  40.82      40.82     40.82    89.5   50.1   91.8  39.78   597
50.01 - 60.00            19.27  55.60      55.60     55.60    92.7   53.1   89.7  41.40   588
60.01 - 70.00            15.79  66.75      66.75     66.75    91.3   44.6   92.2  41.57   577
70.01 - 75.00            13.62  73.77      73.99     73.99    88.7   53.3   95.5  42.39   578
75.01 - 80.00            14.84  79.53      79.53     79.53    78.2   41.1   89.5  41.76   598
80.01 - 85.00            14.37  84.46      84.49     84.49    81.9   49.3   88.4  42.07   604
85.01 - 90.00            11.77  89.05      89.52     89.52    69.7   45.1   85.2  42.96   628
90.01 - 95.00            10.33  90.38      94.71     94.60    48.4   50.9   81.3  42.94   650
95.01 - 100.00           11.43  82.46      99.95     98.46    13.8   31.9   98.4  43.78   657
----------------------------------------------------------------------------------------------
Total:                   13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
----------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 87.42

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 6 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                        Wtd
Combined                  Number                  % of                                           Wtd    Avg
Original                    of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos   Pct
Loan-to-Value Ratio (%)  Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to    2nd
True Silent Seconds       Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
-----------------------------------------------------------------------------------------------------------------

<= 50.00                     132    20,167,125     2.42  152,781   20,203,344   8.107   6.304  14.744   24   0.00
50.01 - 60.00                124    21,383,518     2.56  172,448   21,424,369   8.145   6.264  14.854   24   0.00
60.01 - 70.00                312    59,989,842     7.18  192,275   60,210,830   8.681   6.536  15.321   24   0.00
70.01 - 75.00                280    58,446,358     7.00  208,737   58,533,624   8.465   6.598  15.136   24   0.51
75.01 - 80.00                628   134,073,219    16.06  213,492  134,238,759   8.355   6.426  15.072   24   0.00
80.01 - 85.00                412    83,279,910     9.97  202,136   83,394,899   8.637   6.348  15.332   25   0.00
85.01 - 90.00                428    97,225,263    11.64  227,162   97,347,269   8.630   6.351  15.236   23   0.16
90.01 - 95.00                254    54,268,770     6.50  213,657   54,320,779   8.636   6.296  15.367   23   1.16
95.01 - 100.00             1,637   306,100,296    36.66  186,989  306,419,367   8.369   6.283  14.868   23   9.18
-----------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
-----------------------------------------------------------------------------------------------------------------


                                           Wtd        Wtd
                                           Avg        Avg
                                  Wtd      Comb       Comb
Combined                          Avg      Orig       Orig
Original                         Comb  Simultaneous   True    Pct     Pct   Pct
Loan-to-Value Ratio (%)   Pct    Orig    Second        SS   Cashout  Full  Owner   Back  FICO
True Silent Seconds      Fixed   LTV       LTV        LTV    Refi     Doc   Occ   Ratio  Score
----------------------------------------------------------------------------------------------

<= 50.00                 27.76  40.82     40.82      40.82    89.5   50.1   91.8  39.78   597
50.01 - 60.00            19.27  55.60     55.60      55.60    92.7   53.1   89.7   41.4   588
60.01 - 70.00            15.79  66.75     66.75      66.75    91.3   44.6   92.2  41.57   577
70.01 - 75.00            13.62  73.77     73.99      73.99    88.7   53.3   95.5  42.39   578
75.01 - 80.00            12.77  79.62     83.32      79.62    64.4   37.0   91.5  41.99   610
80.01 - 85.00            14.37  84.46     84.49      84.49    81.9   49.3   88.4  42.07   604
85.01 - 90.00            11.74  89.05     89.55      89.52    69.5   45.2   85.2  42.97   629
90.01 - 95.00            10.41  90.46     94.71      94.71    48.8   51.0   81.2  42.90   650
95.01 - 100.00           12.05  82.65     99.95      99.95    14.6   32.9   98.2  43.85   657
----------------------------------------------------------------------------------------------
Total:                   13.20  80.13     87.42      86.82    52.4   41.0   92.5  42.79   626
----------------------------------------------------------------------------------------------


Minimum: 14.63
Maximum: 100.00
Weighted Average: 86.82





                                                                                                       Wtd
                          Number                 % of                                           Wtd    Avg
                            of        Total      Total   Average     Total       Wtd     Wtd    Avg    Mos    Pct
FICO                     Mortgage    Current    Current  Current    Original     Avg     Avg    Max     to    2nd
Score                     Loans      Balance    Balance  Balance    Balance    Coupon  Margin  Rate    Roll   Lien
------------------------------------------------------------------------------------------------------------------

500 - 525                    296    48,795,120    5.84   164,848   48,860,011   9.533   6.668  16.248   24    0.15
526 - 550                    307    53,224,358    6.37   173,369   53,295,521   9.286   6.718  15.920   25    0.00
551 - 575                    350    63,624,535    7.62   181,784   63,712,090   8.907   6.529  15.572   25    0.19
576 - 600                    475    87,827,159   10.52   184,899   87,958,727   8.655   6.575  15.294   24    1.01
601 - 625                    732   149,278,723   17.88   203,933  149,592,463   8.350   6.302  14.926   23    3.36
626 - 650                    813   158,857,154   19.03   195,396  159,050,889   8.327   6.388  14.851   23    5.53
651 - 675                    548   117,092,099   14.02   213,672  117,213,620   8.167   6.260  14.774   23    5.63
676 - 700                    325    74,252,767    8.89   228,470   74,337,586   8.019   6.037  14.588   23    4.86
701 - 725                    172    37,861,129    4.53   220,123   37,904,992   8.016   5.957  14.705   24    5.00
726 - 750                     99    21,728,446    2.60   219,479   21,749,505   8.042   6.089  14.785   23    3.60
751 - 775                     58    14,175,457    1.70   244,404   14,190,606   7.992   6.228  14.728   23    3.78
776 - 800                     26     7,241,494    0.87   278,519    7,250,430   7.664   6.154  14.259   23    9.06
801 >=                         6       975,860    0.12   162,643      976,800   7.833   6.288  13.684   18   23.89
------------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301  100.00   198,463  836,093,239   8.458   6.361  15.071   23    3.49
------------------------------------------------------------------------------------------------------------------


                                              Wtd        Wtd
                                              Avg        Avg
                                    Wtd      Comb       Comb
                                    Avg      Orig       Orig
                                   Comb  Simultaneous   True    Pct     Pct   Pct
FICO                        Pct    Orig    Second        SS   Cashout  Full  Owner   Back  FICO
Score                      Fixed   LTV       LTV         LTV    Refi    Doc   Occ   Ratio  Score
------------------------------------------------------------------------------------------------

500 - 525                  11.26  71.84      72.15     72.15    89.5   68.3   98.0  42.52   512
526 - 550                  13.23  73.50      74.08     74.08    83.7   52.2   98.4  41.95   538
551 - 575                   9.58  77.54      78.21     78.21    81.5   56.7   96.9  42.39   563
576 - 600                  11.38  80.19      83.01     82.84    71.2   54.6   93.7  42.59   589
601 - 625                  12.39  81.36      88.66     88.20    53.7   50.3   94.1  42.56   613
626 - 650                  14.86  81.66      90.76     89.83    43.4   33.9   91.1  43.12   637
651 - 675                  15.39  81.90      93.40     92.18    39.8   25.7   90.4  43.36   662
676 - 700                  14.22  81.32      92.57     92.06    32.9   25.1   89.1  43.02   687
701 - 725                  12.79  82.87      95.63     94.83    21.9   25.3   88.4  42.65   712
726 - 750                  13.54  82.94      95.11     94.20    15.2   26.1   81.3  42.98   737
751 - 775                   9.93  81.64      94.44     93.35    18.7   13.8   86.8  42.46   762
776 - 800                  20.23  80.58      93.22     91.78     9.3   31.0   95.1  42.41   784
801 >=                     23.89  86.00      98.78     86.00    33.3   12.2  100.0  45.68   807
-----------------------------------------------------------------------------------------------
Total:                     13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-----------------------------------------------------------------------------------------------


Minimum: 500
Maximum: 814
Non Zero Weighted Average: 626.0





                                                                                                       Wtd
                          Number                 % of                                            Wtd   Avg
                            of        Total      Total   Average     Total      Wtd      Wtd     Avg   Mos    Pct
                         Mortgage    Current    Current  Current    Original    Avg      Avg     Max    to    2nd
Occupancy                 Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
-----------------------------------------------------------------------------------------------------------------

Primary                    3,860   772,614,335   92.54   200,159  773,563,938   8.414   6.356  15.021   24   3.75
Investment                   294    49,653,254    5.95   168,889   49,849,716   9.026   6.481  15.677   23   0.07
Second Home                   53    12,666,712    1.52   238,995   12,679,585   8.902   6.229  15.625   22   1.16
-----------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301  100.00   198,463  836,093,239   8.458   6.361  15.071   23   3.49
-----------------------------------------------------------------------------------------------------------------


                                           Wtd        Wtd
                                           Avg        Avg
                                 Wtd      Comb        Comb
                                 Avg      Orig        Orig
                                 Comb  Simultaneous   True    Pct     Pct   Pct
                          Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Occupancy                Fixed   LTV       LTV        LTV     Refi    Doc   Occ   Ratio  Score
-----------------------------------------------------------------------------------------------

Primary                  13.50  79.97     87.70      87.06    52.9   41.5  100.0  42.96   624
Investment               11.25  81.90     82.28      82.28    51.5   35.1    0.0  39.87   652
Second Home               2.34  82.77     90.21      90.21    30.5   34.6    0.0  43.72   652
-----------------------------------------------------------------------------------------------
Total:                   13.20  80.13     87.42      86.82    52.4   41.0   92.5  42.79   626
-----------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 7 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                      Wtd
                        Number                 % of                                            Wtd    Avg
                          of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos   Pct
                       Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to    2nd
Purpose                  Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
---------------------------------------------------------------------------------------------------------------

Refinance - Cashout      2,110   437,916,030    52.45  207,543  438,636,868   8.465   6.408  15.121   24   0.76
Purchase                 1,871   357,138,841    42.77  190,881  357,515,021   8.464   6.297  15.019   23   7.17
Refinance - Rate Term      226    39,879,430     4.78  176,458   39,941,351   8.331   6.457  15.005   25   0.51
---------------------------------------------------------------------------------------------------------------
Total:                   4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
---------------------------------------------------------------------------------------------------------------


                                          Wtd       Wtd
                                          Avg       Avg
                               Wtd       Comb       Comb
                               Avg       Orig       Orig
                               Comb  Simultaneous   True    Pct     Pct   Pct
                        Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Purpose                Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
--------------------------------------------------------------------------------------------

Refinance - Cashout    14.66  77.84      79.91     79.87   100.0   48.3   93.3  42.40   603
Purchase                9.98  82.85      97.07     95.74     0.0   29.9   91.5  43.36   656
Refinance - Rate Term  26.05  80.94      83.39     83.30     0.0   60.7   93.5  41.84   614
--------------------------------------------------------------------------------------------
Total:                 13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
--------------------------------------------------------------------------------------------






                                                                                                      Wtd
                        Number                  % of                                           Wtd    Avg
                          of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos   Pct
                       Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to    2nd
Documentation Level      Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
---------------------------------------------------------------------------------------------------------------

Stated Documentation     2,137   456,501,438    54.68  213,618  457,138,009   8.630   6.445  15.224   23   4.51
Full Documentation       1,897   342,451,104    41.02  180,522  342,912,312   8.246   6.251  14.861   24   1.94
Limited Documentation      173    35,981,758     4.31  207,987   36,042,919   8.300   6.277  15.007   22   5.43
---------------------------------------------------------------------------------------------------------------
Total:                   4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
---------------------------------------------------------------------------------------------------------------


                                         Wtd        Wtd
                                         Avg        Avg
                               Wtd       Comb       Comb
                               Avg       Orig       Orig
                               Comb  Simultaneous   True    Pct     Pct    Pct
                        Pct    Orig     Second       SS   Cashout   Full  Owner   Back   FICO
Documentation Level    Fixed   LTV       LTV        LTV     Refi    Doc    Occ   Ratio  Score
---------------------------------------------------------------------------------------------

Stated Documentation   10.94  80.07      88.68     87.86    45.7     0.0   92.0  43.49   641
Full Documentation     16.10  80.02      85.51     85.23    61.8   100.0   93.6  42.19   607
Limited Documentation  14.24  81.92      89.68     88.83    48.7     0.0   88.6  39.66   619
---------------------------------------------------------------------------------------------
Total:                 13.20  80.13      87.42     86.82    52.4    41.0   92.5  42.79   626
---------------------------------------------------------------------------------------------






                                                                                                        Wtd
                           Number                 % of                                            Wtd   Avg
                             of        Total      Total   Average     Total      Wtd      Wtd     Avg   Mos   Pct
                          Mortgage    Current    Current  Current    Original    Avg      Avg     Max    to   2nd
Documentation Level TAPE   Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
------------------------------------------------------------------------------------------------------------------

Stated Documentation        2,123   453,264,145    54.29  213,502  453,895,189   8.631   6.449  15.222   23   4.54
Full                        1,897   342,451,104    41.02  180,522  342,912,312   8.246   6.251  14.861   24   1.94
Limited                       128    26,642,707     3.19  208,146   26,685,519   8.201   6.480  14.871   21   5.57
Alternative                    28     5,605,923     0.67  200,212    5,611,550   8.802   5.734  15.721   26   2.94
Lite                           17     3,733,128     0.45  219,596    3,745,850   8.254   5.727  14.875   21   8.19
No Documentation               14     3,237,293     0.39  231,235    3,242,820   8.450   5.686  15.603   28   0.00
------------------------------------------------------------------------------------------------------------------
Total:                      4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
------------------------------------------------------------------------------------------------------------------


                                            Wtd        Wtd
                                            Avg        Avg
                                  Wtd       Comb       Comb
                                  Avg       Orig       Orig
                                  Comb  Simultaneous   True    Pct     Pct    Pct
                           Pct    Orig     Second       SS   Cashout   Full  Owner   Back   FICO
Documentation Level TAPE  Fixed   LTV       LTV        LTV     Refi    Doc    Occ   Ratio  Score
------------------------------------------------------------------------------------------------

Stated Documentation      10.76  80.11      88.74     87.92    45.7     0.0   92.0  43.49   640
Full                      16.10  80.02      85.51     85.23    61.8   100.0   93.6  42.19   607
Limited                   15.54  82.39      90.58     89.87    45.1     0.0   87.0  39.44   626
Alternative               12.06  78.77      83.58     83.21    71.6     0.0   88.8  38.59   578
Lite                       8.19  83.24      92.44     89.84    39.8     0.0  100.0  42.87   625
No Documentation          35.88  75.03      79.61     79.61    48.9     0.0  100.0   0.00   690
------------------------------------------------------------------------------------------------
Total:                    13.20  80.13      87.42     86.82    52.4    41.0   92.5  42.79   626
------------------------------------------------------------------------------------------------






                                                                                                       Wtd
                          Number                  % of                                           Wtd   Avg
                            of        Total      Total   Average     Total       Wtd     Wtd     Avg   Mos   Pct
                         Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to   2nd
Documentation Level S&P   Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
-----------------------------------------------------------------------------------------------------------------

V                          2,137   456,501,438    54.68  213,618  457,138,009   8.630   6.445  15.224   23   4.51
Z                          1,612   277,297,293    33.21  172,021  277,688,480   8.333   6.337  15.029   25   2.38
Y                            360    79,360,279     9.50  220,445   79,448,734   7.991   5.900  14.344   22   1.37
X                             98    21,775,291     2.61  222,197   21,818,017   8.151   6.607  15.046   22   4.21
-----------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
-----------------------------------------------------------------------------------------------------------------


                                            Wtd       Wtd
                                            Avg       Avg
                                 Wtd       Comb       Comb
                                 Avg       Orig       Orig
                                 Comb  Simultaneous   True    Pct     Pct   Pct
                          Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Documentation Level S&P  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
----------------------------------------------------------------------------------------------

V                        10.94  80.07      88.68     87.86   45.7    0.0   92.0  43.49   641
Z                        17.72  80.11      85.49     85.15   61.7   99.9   94.1  42.25   605
Y                         9.53  80.02      86.32     86.19   60.2   82.0   91.3  41.64   617
X                        16.41  82.05      89.66     88.66   46.8    1.4   88.0  39.18   625
---------------------------------------------------------------------------------------------
Total:                   13.20  80.13      87.42     86.82   52.4   41.0   92.5  42.79   626
---------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 8 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                           Wtd
                              Number                  % of                                           Wtd   Avg
                                of        Total      Total   Average     Total       Wtd     Wtd     Avg   Mos   Pct
                             Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to   2nd
Documentation Level Moody's   Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
---------------------------------------------------------------------------------------------------------------------

1                              1,672   291,464,974    34.91  174,321  291,883,292   8.307   6.285  14.914   24   2.25
2                                220    48,829,263     5.85  221,951   48,894,877   8.118   6.136  14.814   22   0.78
3                                178    38,138,626     4.57  214,262   38,177,062   7.995   6.190  14.688   22   4.33
4                              1,847   403,749,671    48.36  218,598  404,317,144   8.645   6.518  15.250   23   4.19
5                                290    52,751,767     6.32  181,903   52,820,865   8.513   5.846  15.013   23   6.93
---------------------------------------------------------------------------------------------------------------------
Total:                         4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
---------------------------------------------------------------------------------------------------------------------


                                                Wtd       Wtd
                                                Avg       Avg
                                     Wtd       Comb       Comb
                                     Avg       Orig       Orig
                                     Comb  Simultaneous   True    Pct     Pct   Pct
                              Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Documentation Level Moody's  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
--------------------------------------------------------------------------------------------------

1                            17.76  80.09      85.33     85.01    63.6   99.9   94.2  42.34   605
2                            12.03  79.52      82.51     82.43    84.5   67.0   90.9  40.35   606
3                             6.91  81.93      94.62     93.81     6.6   48.9   88.1  40.96   636
4                            10.30  79.82      88.04     87.18    51.7    0.0   91.6  43.51   638
5                            15.79  82.01      93.52     93.09     0.0    0.0   95.0  43.27   661
--------------------------------------------------------------------------------------------------
Total:                       13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
--------------------------------------------------------------------------------------------------






                                                                                        Wtd
           Number                 % of                                           Wtd    Avg
             of        Total      Total   Average      Total      Wtd     Wtd    Avg    Mos     Pct
Lien      Mortgage    Current    Current  Current    Original     Avg     Avg    Max     to     2nd
Position    Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
----------------------------------------------------------------------------------------------------

1st Lien    3,747   805,760,512    96.51  215,042  806,873,104   8.349   6.361  15.071   23     0.00
2nd Lien      460    29,173,789     3.49   63,421   29,220,135  11.483   0.000   0.000    0   100.00
----------------------------------------------------------------------------------------------------
Total:      4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23     3.49
----------------------------------------------------------------------------------------------------


                             Wtd        Wtd
                             Avg        Avg
                   Wtd       Comb       Comb
                   Avg       Orig       Orig
                   Comb  Simultaneous   True    Pct     Pct   Pct
Lien        Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Position   Fixed   LTV       LTV        LTV     Refi    Doc   Occ   Ratio  Score
--------------------------------------------------------------------------------

1st Lien   10.06  79.43     86.98      86.36    53.9   41.7   92.3  42.75   625
2nd Lien  100.00  99.52     99.52      99.52    11.5   22.8   99.4  43.71   657
--------------------------------------------------------------------------------
Total:     13.20  80.13     87.42      86.82    52.4   41.0   92.5  42.79   626
--------------------------------------------------------------------------------






                                                                                                        Wtd
                          Number                 % of                                            Wtd    Avg
                            of        Total      Total   Average     Total      Wtd     Wtd      Avg    Mos   Pct
                         Mortgage    Current    Current  Current   Original     Avg     Avg      Max    to    2nd
Prepayment Penalty Term    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll  Lien
-----------------------------------------------------------------------------------------------------------------

0                          1,199   216,979,403    25.99  180,967  217,381,743   8.805   6.198  15.408   24   3.58
6                             15     3,489,711     0.42  232,647    3,492,550   8.529   4.908  15.412   21   0.00
12                           237    68,168,035     8.16  287,629   68,255,630   8.285   6.178  14.953   22   1.73
24                         1,682   372,728,763    44.64  221,599  373,169,048   8.235   6.420  14.850   21   2.43
30                             7     1,406,947     0.17  200,992    1,408,450   9.452   7.202  16.561   31   0.00
36                         1,007   164,152,599    19.66  163,012  164,366,995   8.550   6.592  15.238   31   6.81
48                             1       145,964     0.02  145,964      146,000   8.500   0.000   0.000    0   0.00
60                            59     7,862,880     0.94  133,269    7,872,824   8.849   5.531  15.813   33   0.00
-----------------------------------------------------------------------------------------------------------------
Total:                     4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23   3.49
-----------------------------------------------------------------------------------------------------------------


                                             Wtd       Wtd
                                             Avg       Avg
                                  Wtd       Comb       Comb
                                  Avg       Orig       Orig
                                  Comb  Simultaneous   True    Pct     Pct   Pct
                           Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Prepayment Penalty Term   Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
-----------------------------------------------------------------------------------------------

0                         14.28  80.89      86.87     86.60    56.6   42.9   91.1  42.82   624
6                          0.00  77.65      91.69     91.69    44.6   17.1  100.0  43.09   639
12                        16.36  78.59      87.31     86.54    46.3   33.1   94.0  42.90   646
24                         3.22  80.10      88.76     87.93    47.5   38.9   92.2  42.87   628
30                        32.87  82.36      88.14     88.14    48.2   14.9   84.9  46.23   609
36                        30.76  80.08      85.47     84.98    59.5   46.3   94.7  42.54   619
48                       100.00  36.50      36.50     36.50   100.0    0.0  100.0  43.94   529
60                        63.14  76.52      79.67     79.67    83.6   65.0   87.7  41.38   580
-----------------------------------------------------------------------------------------------
Total:                    13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-----------------------------------------------------------------------------------------------


Minimum: 0.000
Maximum: 60.000
Weighted Average: 19.421
Non-Zero Weighted Average: 26.240

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                  Page 9 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                                   Wtd
                              Number                   % of                                                 Wtd    Avg
                                of         Total       Total    Average      Total       Wtd       Wtd      Avg    Mos     Pct
                             Mortgage     Current     Current   Current     Original     Avg       Avg      Max     to     2nd
Property Type                 Loans       Balance     Balance   Balance     Balance     Coupon   Margin     Rate   Roll   Lien
-------------------------------------------------------------------------------------------------------------------------------

Single Family Residence        3,421    651,774,116     78.06   190,522   652,717,941    8.460    6.438   15.102    24     3.47
2-4 Family                       300     78,056,397      9.35   260,188    78,157,763    8.502    6.185   15.040    23     3.57
Planned Unit Development         216     53,080,620      6.36   245,744    53,145,713    8.308    5.876   14.753    22     2.86
Condo                            270     52,023,168      6.23   192,678    52,071,823    8.519    6.191   15.075    23     4.30
-------------------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301    100.00   198,463   836,093,239    8.458    6.361   15.071    23     3.49
-------------------------------------------------------------------------------------------------------------------------------


                                                 Wtd         Wtd
                                                 Avg         Avg
                                      Wtd        Comb        Comb
                                      Avg        Orig        Orig
                                      Comb   Simultaneous    True     Pct      Pct    Pct
                              Pct     Orig      Second        SS    Cashout   Full   Owner    Back   FICO
Property Type                Fixed    LTV        LTV         LTV     Refi      Doc    Occ    Ratio   Score
----------------------------------------------------------------------------------------------------------

Single Family Residence      13.69   80.29      87.34       86.78     55.1    42.2    94.3   42.86    622
2-4 Family                   15.71   78.31      85.03       84.57     49.0    31.7    79.6   42.95    645
Planned Unit Development      8.22   80.00      89.01       88.68     46.5    42.5    94.1   41.86    628
Condo                         8.34   80.96      90.31       88.86     31.1    38.9    88.1   42.52    641
----------------------------------------------------------------------------------------------------------
Total:                       13.20   80.13      87.42       86.82     52.4    41.0    92.5   42.79    626
----------------------------------------------------------------------------------------------------------






                                                                                                                   Wtd
                              Number                   % of                                                 Wtd    Avg
                                of         Total       Total    Average      Total       Wtd       Wtd      Avg    Mos     Pct
                             Mortgage     Current     Current   Current     Original     Avg       Avg      Max     to     2nd
Conforming Balance            Loans       Balance     Balance   Balance     Balance     Coupon   Margin     Rate   Roll   Lien
-------------------------------------------------------------------------------------------------------------------------------

Non-Conforming Balance           378    154,018,572     18.45   407,457   154,167,953    8.347    6.159   14.701    22     8.11
Conforming Balance             3,829    680,915,729     81.55   177,831   681,925,286    8.483    6.407   15.155    24     2.45
-------------------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301    100.00   198,463   836,093,239    8.458    6.361   15.071    23     3.49
-------------------------------------------------------------------------------------------------------------------------------


                                                 Wtd         Wtd
                                                 Avg         Avg
                                      Wtd        Comb        Comb
                                      Avg        Orig        Orig
                                      Comb   Simultaneous    True     Pct      Pct    Pct
                              Pct     Orig      Second        SS    Cashout   Full   Owner    Back   FICO
Conforming Balance           Fixed    LTV        LTV         LTV     Refi      Doc    Occ    Ratio   Score
----------------------------------------------------------------------------------------------------------

Non-Conforming Balance       12.53   82.80      91.52       90.73     46.5    33.5    95.0   43.03    643
Conforming Balance           13.35   79.53      86.49       85.94     53.8    42.7    92.0   42.73    622
----------------------------------------------------------------------------------------------------------
Total:                       13.20   80.13      87.42       86.82     52.4    41.0    92.5   42.79    626
----------------------------------------------------------------------------------------------------------






                                                                                                                   Wtd
                              Number                   % of                                                 Wtd    Avg
                                of         Total       Total    Average      Total       Wtd       Wtd      Avg    Mos     Pct
                             Mortgage     Current     Current   Current     Original     Avg       Avg      Max     to     2nd
Current Mortgage Rates (%)     Loans      Balance     Balance   Balance     Balance     Coupon   Margin     Rate   Roll    Lien
-------------------------------------------------------------------------------------------------------------------------------

5.501 - 6.000                      6      1,933,824      0.23   322,304     1,944,938    5.939    4.435   11.672    27     0.00
6.001 - 6.500                     53     15,591,177      1.87   294,173    15,611,586    6.349    5.759   12.906    24     0.00
6.501 - 7.000                    227     59,692,990      7.15   262,965    59,777,144    6.870    5.761   13.537    23     0.00
7.001 - 7.500                    393    100,369,862     12.02   255,394   100,496,834    7.313    6.056   14.039    23     0.00
7.501 - 8.000                    753    187,090,723     22.41   248,460   187,309,595    7.816    6.218   14.515    23     0.00
8.001 - 8.500                    547    122,485,395     14.67   223,922   122,642,390    8.289    6.536   15.010    23     0.02
8.501 - 9.000                    683    131,747,423     15.78   192,895   132,029,365    8.796    6.494   15.544    24     0.26
9.001 - 9.500                    372     73,221,097      8.77   196,831    73,314,407    9.288    6.752   16.015    24     0.28
9.501 - 10.000                   424     68,679,140      8.23   161,979    68,756,502    9.802    6.605   16.537    25     3.03
10.001 - 10.500                  178     23,779,929      2.85   133,595    23,807,762   10.296    6.735   16.979    24     8.42
10.501 - 11.000                  203     22,321,440      2.67   109,958    22,345,807   10.779    6.775   17.464    26    21.30
11.001 - 11.500                   91      9,173,712      1.10   100,810     9,187,804   11.262    6.750   17.909    22    47.78
11.501 - 12.000                  145     10,941,267      1.31    75,457    10,954,248   11.777    6.532   18.060    22    79.44
12.001 >=                        132      7,906,322      0.95    59,896     7,914,858   12.681    6.401   19.362    22    84.69
-------------------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301    100.00   198,463   836,093,239    8.458    6.361   15.071    23     3.49
-------------------------------------------------------------------------------------------------------------------------------


                                                  Wtd         Wtd
                                                  Avg         Avg
                                       Wtd       Comb        Comb
                                       Avg       Orig        Orig
                                      Comb   Simultaneous    True     Pct      Pct    Pct
                              Pct     Orig      Second        SS    Cashout   Full   Owner    Back   FICO
Current Mortgage Rates (%)   Fixed     LTV        LTV         LTV    Refi      Doc    Occ    Ratio   Score
----------------------------------------------------------------------------------------------------------

5.501 - 6.000                 0.00   76.47      79.23       79.23     86.2    86.0   100.0   42.48    684
6.001 - 6.500                18.80   74.49      81.25       80.78     67.6    82.7    98.0   41.66    664
6.501 - 7.000                20.66   76.33      86.04       85.03     49.7    59.8    97.7   43.38    656
7.001 - 7.500                10.64   78.30      88.64       87.73     45.7    50.0    97.0   42.39    652
7.501 - 8.000                 7.07   79.30      89.56       88.63     47.4    40.3    94.9   43.07    642
8.001 - 8.500                 9.33   79.83      89.01       88.30     52.9    36.9    94.5   42.57    631
8.501 - 9.000                10.25   79.57      85.33       84.95     59.2    36.4    90.7   42.49    610
9.001 - 9.500                 7.48   81.30      86.07       85.72     57.0    29.5    85.9   43.07    607
9.501 - 10.000               11.06   81.60      83.72       83.63     67.5    39.3    85.4   43.15    580
10.001 - 10.500              15.38   84.26      85.45       85.45     55.4    38.7    80.5   42.96    580
10.501 - 11.000              33.09   86.27      87.32       87.32     46.6    38.7    87.5   41.51    596
11.001 - 11.500              60.66   86.01      86.61       86.61     38.6    39.1    95.6   41.94    606
11.501 - 12.000              88.04   94.40      94.56       94.56     20.8    23.5    97.8   44.04    619
12.001 >=                    85.75   98.11      98.11       98.11     15.3    12.9    91.9   43.61    631
----------------------------------------------------------------------------------------------------------
Total:                       13.20   80.13      87.42       86.82     52.4    41.0    92.5   42.79    626
----------------------------------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 14.240
Weighted Average: 8.458

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 10 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                                   Wtd
                              Number                   % of                                                Wtd     Avg
                                of         Total       Total    Average      Total       Wtd       Wtd     Avg     Mos     Pct
Original Mortgage Loan       Mortgage     Current     Current   Current     Original     Avg       Avg     Max      to     2nd
Principal Balance ($)         Loans       Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll    Lien
--------------------------------------------------------------------------------------------------------------------------------

0.01 - 20,000.00                   8        134,745      0.02    16,843       134,950   11.582    0.000    0.000     0    100.00
20,000.01 - 40,000.00            129      4,074,831      0.49    31,588     4,080,858   11.466    6.240   17.595    28     88.60
40,000.01 - 60,000.00            246     12,575,274      1.51    51,119    12,596,532   10.667    6.554   16.374    23     52.58
60,000.01 - 80,000.00            325     23,055,914      2.76    70,941    23,098,396    9.784    6.655   16.120    25     25.25
80,000.01 - 100,000.00           316     28,617,529      3.43    90,562    28,672,157    9.297    6.670   15.864    26     16.38
100,000.01 - 150,000.00          849    105,969,864     12.69   124,817   106,136,756    8.898    6.493   15.559    25      6.29
150,000.01 - 200,000.00          697    121,737,407     14.58   174,659   122,022,597    8.547    6.429   15.280    25      1.10
200,000.01 - 250,000.00          520    116,498,113     13.95   224,035   116,633,831    8.353    6.404   15.102    24      0.00
250,000.01 - 300,000.00          347     95,201,556     11.40   274,356    95,318,269    8.184    6.472   14.921    23      0.31
300,000.01 - 400,000.00          403    138,937,168     16.64   344,757   139,086,233    8.145    6.242   14.928    23      0.00
400,000.01 - 500,000.00          220     98,584,268     11.81   448,110    98,682,237    8.043    6.361   14.685    21      0.00
500,000.01 - 600,000.00           89     48,760,140      5.84   547,867    48,802,103    8.053    5.991   14.670    23      0.00
600,000.01 - 700,000.00           34     21,963,801      2.63   645,994    21,980,943    8.136    6.193   14.767    22      0.00
700,000.01 - 800,000.00           19     14,142,152      1.69   744,324    14,163,128    8.468    5.979   14.896    20      0.00
800,000.01 - 900,000.00            2      1,704,622      0.20   852,311     1,705,000    8.431    5.748   14.428    21      0.00
900,000.01 - 1,000,000.00          3      2,976,916      0.36   992,305     2,979,250    7.537    6.167   14.201    25      0.00
--------------------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301    100.00   198,463   836,093,239    8.458    6.361   15.071    23      3.49
--------------------------------------------------------------------------------------------------------------------------------


                                                   Wtd         Wtd
                                                   Avg         Avg
                                        Wtd       Comb        Comb
                                        Avg       Orig        Orig
                                       Comb   Simultaneous    True     Pct      Pct     Pct
Original Mortgage Loan         Pct     Orig      Second        SS    Cashout    Full   Owner   Back     FICO
Principal Balance ($)         Fixed     LTV        LTV         LTV    Refi      Doc     Occ    Ratio   Score
------------------------------------------------------------------------------------------------------------

0.01 - 20,000.00             100.00   99.99      99.99       99.99     11.3      0.0   100.0   41.22    671
20,000.01 - 40,000.00         92.70   96.61      96.61       96.61     12.8     32.7    95.3   40.13    639
40,000.01 - 60,000.00         69.18   89.46      91.17       91.17     31.8     44.9    86.6   39.60    628
60,000.01 - 80,000.00         47.52   83.76      87.53       87.41     46.9     52.3    87.8   40.35    613
80,000.01 - 100,000.00        39.96   82.72      86.83       86.50     43.6     52.9    89.9   40.11    615
100,000.01 - 150,000.00       21.68   79.04      84.76       84.27     54.3     54.4    92.4   41.14    607
150,000.01 - 200,000.00       12.84   78.17      84.53       83.93     57.0     49.6    90.8   42.62    614
200,000.01 - 250,000.00        8.36   79.15      86.17       85.45     55.0     40.2    92.2   43.52    623
250,000.01 - 300,000.00        6.47   79.49      87.10       86.39     55.0     44.2    96.1   43.33    621
300,000.01 - 400,000.00        7.67   79.89      88.26       87.86     53.0     30.2    92.5   43.73    636
400,000.01 - 500,000.00        4.49   81.00      91.87       90.86     47.4     29.5    95.3   43.89    640
500,000.01 - 600,000.00       10.12   81.49      90.48       89.59     49.5     32.5    96.5   43.16    645
600,000.01 - 700,000.00        2.96   81.37      88.54       87.91     44.4     32.8    90.9   42.48    653
700,000.01 - 800,000.00        0.00   82.74      90.34       90.34     68.1     26.2    78.7   42.90    653
800,000.01 - 900,000.00        0.00   84.37      84.37       84.37     50.2    100.0    50.2   37.07    646
900,000.01 - 1,000,000.00      0.00   78.54      78.54       78.54     66.8     66.4   100.0   42.20    653
------------------------------------------------------------------------------------------------------------
Total:                        13.20   80.13      87.42       86.82     52.4     41.0    92.5   42.79    626
------------------------------------------------------------------------------------------------------------


Minimum: 14,800.00
Maximum: 1,000,000.00
Average: 198,738.59
Total: 836,093,239.30





                                                                                                                   Wtd
                              Number                   % of                                                Wtd     Avg
                                of         Total       Total    Average      Total       Wtd       Wtd     Avg     Mos     Pct
Current Mortgage Loan        Mortgage     Current     Current   Current     Original     Avg       Avg     Max      to     2nd
Principal Balance ($)         Loans       Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll    Lien
--------------------------------------------------------------------------------------------------------------------------------

0.01 - 20,000.00                   8        134,745      0.02    16,843       134,950   11.582    0.000    0.000     0    100.00
20,000.01 - 40,000.00            129      4,074,831      0.49    31,588     4,080,858   11.466    6.240   17.595    28     88.60
40,000.01 - 60,000.00            247     12,616,336      1.51    51,078    12,761,032   10.662    6.547   16.369    23     52.41
60,000.01 - 80,000.00            325     23,055,914      2.76    70,941    23,098,396    9.784    6.655   16.120    25     25.25
80,000.01 - 100,000.00           318     28,817,384      3.45    90,621    28,873,757    9.286    6.662   15.859    26     16.27
100,000.01 - 150,000.00          847    105,770,009     12.67   124,876   105,935,156    8.900    6.495   15.560    25      6.30
150,000.01 - 200,000.00          697    121,896,330     14.60   174,887   122,058,347    8.549    6.429   15.284    25      1.10
200,000.01 - 250,000.00          520    116,547,962     13.96   224,131   116,683,981    8.348    6.404   15.098    24      0.00
250,000.01 - 300,000.00          346     94,951,722     11.37   274,427    95,067,869    8.186    6.472   14.921    23      0.31
300,000.01 - 400,000.00          404    139,336,160     16.69   344,891   139,486,733    8.143    6.242   14.924    23      0.00
400,000.01 - 500,000.00          219     98,185,276     11.76   448,335    98,281,737    8.045    6.361   14.690    21      0.00
500,000.01 - 600,000.00           89     48,760,140      5.84   547,867    48,802,103    8.053    5.991   14.670    23      0.00
600,000.01 - 700,000.00           34     21,963,801      2.63   645,994    21,980,943    8.136    6.193   14.767    22      0.00
700,000.01 - 800,000.00           19     14,142,152      1.69   744,324    14,163,128    8.468    5.979   14.896    20      0.00
800,000.01 - 900,000.00            2      1,704,622      0.20   852,311     1,705,000    8.431    5.748   14.428    21      0.00
900,000.01 - 1,000,000.00          3      2,976,916      0.36   992,305     2,979,250    7.537    6.167   14.201    25      0.00
--------------------------------------------------------------------------------------------------------------------------------
Total:                         4,207    834,934,301    100.00   198,463   836,093,239    8.458    6.361   15.071    23      3.49
--------------------------------------------------------------------------------------------------------------------------------


                                                   Wtd         Wtd
                                                   Avg         Avg
                                        Wtd       Comb        Comb
                                        Avg       Orig        Orig
                                       Comb   Simultaneous    True     Pct      Pct      Pct
Current Mortgage Loan          Pct     Orig      Second        SS    Cashout    Full    Owner   Back    FICO
Principal Balance ($)         Fixed     LTV        LTV         LTV    Refi      Doc      Occ   Ratio   Score
------------------------------------------------------------------------------------------------------------

0.01 - 20,000.00             100.00   99.99      99.99       99.99     11.3      0.0   100.0   41.22    671
20,000.01 - 40,000.00         92.70   96.61      96.61       96.61     12.8     32.7    95.3   40.13    639
40,000.01 - 60,000.00         68.96   89.40      91.10       91.10     32.0     44.8    86.3   39.62    628
60,000.01 - 80,000.00         47.52   83.76      87.53       87.41     46.9     52.3    87.8   40.35    613
80,000.01 - 100,000.00        40.03   82.70      86.93       86.59     43.7     52.9    90.0   40.04    615
100,000.01 - 150,000.00       21.63   79.04      84.73       84.24     54.3     54.4    92.3   41.16    607
150,000.01 - 200,000.00       12.83   78.17      84.52       83.92     56.9     49.5    90.9   42.61    614
200,000.01 - 250,000.00        8.57   79.16      86.22       85.50     55.2     40.4    92.2   43.53    623
250,000.01 - 300,000.00        6.23   79.49      87.06       86.35     54.9     44.1    96.0   43.32    621
300,000.01 - 400,000.00        7.65   79.92      88.26       87.87     53.1     30.1    92.5   43.71    636
400,000.01 - 500,000.00        4.51   80.96      91.87       90.86     47.2     29.6    95.3   43.91    640
500,000.01 - 600,000.00       10.12   81.49      90.48       89.59     49.5     32.5    96.5   43.16    645
600,000.01 - 700,000.00        2.96   81.37      88.54       87.91     44.4     32.8    90.9   42.48    653
700,000.01 - 800,000.00        0.00   82.74      90.34       90.34     68.1     26.2    78.7   42.90    653
800,000.01 - 900,000.00        0.00   84.37      84.37       84.37     50.2    100.0    50.2   37.07    646
900,000.01 - 1,000,000.00      0.00   78.54      78.54       78.54     66.8     66.4   100.0   42.20    653
------------------------------------------------------------------------------------------------------------
Total:                        13.20   80.13      87.42       86.82     52.4     41.0    92.5   42.79    626
------------------------------------------------------------------------------------------------------------


Minimum: 14,773.89
Maximum: 1,000,000.00
Average: 198,463.11

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 11 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                       % of Total  Average     Total
Original Loan-to-Value     Number of    Total Current    Current   Current    Original   Wtd Avg
Ratio (%)               Mortgage Loans     Balance       Balance   Balance    Balance     Coupon
------------------------------------------------------------------------------------------------

<= 50.00                      593         49,740,388       5.96     83,879   49,823,479   10.087
50.01 - 60.00                 125         21,617,057       2.59    172,936   21,658,369    8.145
60.01 - 70.00                 314         60,586,977       7.26    192,952   60,808,430    8.669
70.01 - 75.00                 287         59,783,895       7.16    208,306   59,871,424    8.470
75.01 - 80.00               1,759        408,554,737      48.93    232,265  408,985,962    8.082
80.01 - 85.00                 437         87,800,198      10.52    200,916   87,920,854    8.668
85.01 - 90.00                 446         97,982,612      11.74    219,692   98,103,869    8.680
90.01 - 95.00                 181         38,622,814       4.63    213,386   38,661,388    8.933
95.01 - 100.00                 65         10,245,623       1.23    157,625   10,259,465    9.193
------------------------------------------------------------------------------------------------
Total:                      4,207        834,934,301     100.00    198,463  836,093,239    8.458
------------------------------------------------------------------------------------------------


                                 Wtd Avg  Wtd Avg                       Wtd Avg   Wtd Avg Comb Orig
Original Loan-to-Value  Wtd Avg    Max     Mos to  Pct 2nd             Comb Orig     Simultaneous
Ratio (%)                Margin    Rate     Roll     Lien   Pct Fixed     LTV         Second LTV
---------------------------------------------------------------------------------------------------

<= 50.00                 6.304    14.744     24     58.65     70.71      75.32          75.52
50.01 - 60.00            6.279    14.858     24      0.00     19.06      55.64          55.81
60.01 - 70.00            6.502    15.311     24      0.00     15.63      66.78          67.05
70.01 - 75.00            6.599    15.136     24      0.00     12.54      73.96          74.68
75.01 - 80.00            6.312    14.867     23      0.00      6.23      79.84          94.25
80.01 - 85.00            6.339    15.361     24      0.00     13.63      84.51          85.32
85.01 - 90.00            6.398    15.303     23      0.00     11.07      89.55          90.05
90.01 - 95.00            6.337    15.658     23      0.00      9.15      94.64          94.78
95.01 - 100.00           6.425    16.070     26      0.00     20.88      99.53          99.53
---------------------------------------------------------------------------------------------------
Total:                   6.361    15.071     23      3.49     13.20      80.13          87.42
---------------------------------------------------------------------------------------------------


                          Wtd Avg
Original Loan-to-Value   Comb Orig   Pct Cashout     Pct    Pct Owner
Ratio (%)               True SS LTV      Refi     Full Doc     Occ     Back Ratio  FICO Score
---------------------------------------------------------------------------------------------

<= 50.00                   75.52         43.8       33.7       96.3      42.13         633
50.01 - 60.00              55.81         91.7       52.6       89.8      41.48         588
60.01 - 70.00              67.05         90.4       44.5       92.2      41.58         578
70.01 - 75.00              74.68         86.8       52.1       95.6      42.34         579
75.01 - 80.00              93.03         32.4       33.7       95.9      43.26         643
80.01 - 85.00              85.32         77.3       47.6       87.7      42.14         606
85.01 - 90.00              90.02         66.6       47.0       85.7      42.99         627
90.01 - 95.00              94.78         51.8       59.9       76.5      42.80         643
95.01 - 100.00             99.53         38.0       73.5       97.2      42.91         642
---------------------------------------------------------------------------------------------
Total:                     86.82         52.4       41.0       92.5      42.79         626
---------------------------------------------------------------------------------------------


Minimum: 8.42
Maximum: 100.00
Weighted Average by Current Balance: 77.35



                         Number                 % of
                           of        Total      Total   Average     Total
Current Loan-to-Value   Mortgage    Current    Current  Current    Original   Wtd  Avg
Ratio (%)                 Loans     Balance    Balance  Balance    Balance     Coupon
--------------------------------------------------------------------------------------

<= 50.00                    594    49,781,450     5.96   83,807   49,987,979   10.086
50.01 - 60.00               127    21,898,359     2.62  172,428   21,943,369    8.143
60.01 - 70.00               311    60,264,613     7.22  193,777   60,358,930    8.672
70.01 - 75.00               288    60,103,254     7.20  208,692   60,191,424    8.475
75.01 - 80.00             1,758   408,235,377    48.89  232,216  408,665,962    8.081
80.01 - 85.00               437    87,800,198    10.52  200,916   87,920,854    8.668
85.01 - 90.00               446    97,982,612    11.74  219,692   98,103,869    8.680
90.01 - 95.00               181    38,622,814     4.63  213,386   38,661,388    8.933
95.01 - 100.00               65    10,245,623     1.23  157,625   10,259,465    9.193
--------------------------------------------------------------------------------------
Total:                    4,207   834,934,301   100.00  198,463  836,093,239    8.458
--------------------------------------------------------------------------------------


                                                                                   Wtd Avg
                                           Wtd Avg                    Wtd Avg     Comb Orig
Current Loan-to-Value   Wtd Avg   Wtd Avg   Mos to    Pct      Pct   Comb Orig  Simultaneous
Ratio (%)                Margin  Max Rate    Roll   2nd Lien  Fixed     LTV      Second LTV
--------------------------------------------------------------------------------------------

<= 50.00                 6.303    14.747      24      58.60   70.65    75.31        75.51
50.01 - 60.00            6.276    14.859      24       0.00   19.19    55.71        55.87
60.01 - 70.00            6.504    15.312      24       0.00   15.58    66.80        67.08
70.01 - 75.00            6.604    15.144      24       0.00   12.47    73.97        74.68
75.01 - 80.00            6.311    14.866      23       0.00    6.23    79.84        94.26
80.01 - 85.00            6.339    15.361      24       0.00   13.63    84.51        85.32
85.01 - 90.00            6.398    15.303      23       0.00   11.07    89.55        90.05
90.01 - 95.00            6.337    15.658      23       0.00    9.15    94.64        94.78
95.01 - 100.00           6.425    16.070      26       0.00   20.88    99.53        99.53
--------------------------------------------------------------------------------------------
Total:                   6.361    15.071      23       3.49   13.20    80.13        87.42
--------------------------------------------------------------------------------------------


                         Wtd Avg
                        Comb Orig    Pct
 Current Loan-to-Value   True SS   Cashout    Pct        Pct      Back   FICO
       Ratio (%)           LTV       Refi   Full Doc  Owner Occ  Ratio  Score
-----------------------------------------------------------------------------

<= 50.00                  75.51      43.9     33.6       96.2    42.13   633
50.01 - 60.00             55.87      91.8     52.8       89.5    41.59   587
60.01 - 70.00             67.08      90.4     44.4       92.4    41.54   578
70.01 - 75.00             74.68      86.9     51.8       95.6    42.33   579
75.01 - 80.00             93.05      32.4     33.7       95.9    43.27   644
80.01 - 85.00             85.32      77.3     47.6       87.7    42.14   606
85.01 - 90.00             90.02      66.6     47.0       85.7    42.99   627
90.01 - 95.00             94.78      51.8     59.9       76.5    42.80   643
95.01 - 100.00            99.53      38.0     73.5       97.2    42.91   642
-----------------------------------------------------------------------------
Total:                    86.82      52.4     41.0       92.5    42.79   626
-----------------------------------------------------------------------------


Minimum: 8.41
Maximum: 100.00
Weighted Average: 77.26



                                          % of
                 Number of     Total      Total   Average     Total
                  Mortgage    Current    Current  Current    Original   Wtd Avg  Wtd Avg
Adjustment Type    Loans      Balance    Balance  Balance    Balance     Coupon   Margin
----------------------------------------------------------------------------------------

Fixed Rate           982    110,194,672    13.20  112,215  110,406,421   9.118    0.000
ARM                3,225    724,739,629    86.80  224,725  725,686,818   8.358    6.361
----------------------------------------------------------------------------------------
Total:             4,207    834,934,301   100.00  198,463  836,093,239   8.458    6.361
----------------------------------------------------------------------------------------


                                                                       Wtd Avg
                                                          Wtd Avg     Comb Orig
                  Wtd Avg    Wtd Avg    Pct 2nd    Pct   Comb Orig  Simultaneous
Adjustment Type  Max Rate  Mos to Roll    Lien    Fixed    LTV       Second LTV
--------------------------------------------------------------------------------

Fixed Rate         0.000         0       26.47   100.00    82.69        84.42
ARM               15.071        23        0.00     0.00    79.74        87.88
--------------------------------------------------------------------------------
Total:            15.071        23        3.49    13.20    80.13        87.42
--------------------------------------------------------------------------------



                   Wtd Avg      Pct
                  Comb Orig   Cashout    Pct        Pct      Back   FICO
Adjustment Type  True SS LTV    Refi   Full Doc  Owner Occ  Ratio  Score
------------------------------------------------------------------------

Fixed Rate          84.25       58.2     50.0       94.7    41.85   631
ARM                 87.21       51.6     39.6       92.2    42.93   625
------------------------------------------------------------------------
Total:              86.82       52.4     41.0       92.5    42.79   626
------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 12 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------




                                                      Number of     Total     % of Total  Average     Total
                                                       Mortgage    Current     Current    Current    Original   Wtd Avg
Product                                                 Loans      Balance     Balance    Balance    Balance     Coupon
-----------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                             7        496,311      0.06     70,902      505,900    8.252
Fixed - 15 Year                                            23      1,940,686      0.23     84,378    1,957,950    8.448
Fixed - 20 Year                                            24      1,990,559      0.24     82,940    1,999,670    8.449
Fixed - 25 Year                                             3        245,515      0.03     81,838      246,000    8.559
Fixed - 30 Year                                           489     62,069,627      7.43    126,932   62,194,565    8.684
Interest Only Fixed - 30 Year                              15      4,811,985      0.58    320,799    4,812,050    7.474
Balloon - 15/30                                           354     23,914,670      2.86     67,556   23,951,647   11.437
Balloon - 30/40                                            67     14,725,319      1.76    219,781   14,738,639    7.933
ARM - 1 Year/6 Month                                        2        542,838      0.07    271,419      546,000    7.742
ARM - 2 Year/6 Month                                    1,203    227,698,738     27.27    189,276  228,284,081    8.687
ARM - 3 Year/6 Month                                      488     77,786,208      9.32    159,398   77,907,353    8.903
ARM - 5 Year/6 Month                                       12      1,990,884      0.24    165,907    1,995,430    8.472
ARM - 2 Year/6 Month - Balloon - 30/40                    789    213,147,286     25.53    270,149  213,339,670    8.242
ARM - 3 Year/6 Month - Balloon - 30/40                    211     44,732,369      5.36    212,002   44,764,789    8.383
ARM - 2 Year/6 Month - Balloon - 30/50                      1        203,935      0.02    203,935      204,000    8.450
Interest Only Arm - 2 Year/6 Month                        424    132,706,238     15.89    312,986  132,709,106    7.778
Interest Only Arm - 3 Year/6 Month                         85     23,093,944      2.77    271,693   23,096,250    7.774
Interest Only Arm - 5 Year/6 Month                          7      1,895,839      0.23    270,834    1,895,939    7.240
Dual Amort - 10/40 - 2 Year/6 Month                         3        941,351      0.11    313,784      944,200    7.192
-----------------------------------------------------------------------------------------------------------------------
Total:                                                  4,207    834,934,301    100.00    198,463  836,093,239    8.458
-----------------------------------------------------------------------------------------------------------------------



                                                                                                           Wtd Avg
                                                      Wtd Avg  Wtd Avg Max    Wtd Avg    Pct 2nd    Pct     Comb
Product                                                Margin      Rate     Mos to Roll    Lien    Fixed  Orig LTV
------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                        0.000       0.000          0        0.00   100.00    64.85
Fixed - 15 Year                                        0.000       0.000          0        9.69   100.00    69.52
Fixed - 20 Year                                        0.000       0.000          0        6.99   100.00    75.91
Fixed - 25 Year                                        0.000       0.000          0        0.00   100.00    84.90
Fixed - 30 Year                                        0.000       0.000          0        8.33   100.00    78.47
Interest Only Fixed - 30 Year                          0.000       0.000          0        0.00   100.00    77.31
Balloon - 15/30                                        0.000       0.000          0       99.00   100.00    99.11
Balloon - 30/40                                        0.000       0.000          0        0.00   100.00    78.80
ARM - 1 Year/6 Month                                   5.250      13.753          4        0.00     0.00    84.95
ARM - 2 Year/6 Month                                   6.337      15.268         21        0.00     0.00    79.02
ARM - 3 Year/6 Month                                   6.928      15.881         33        0.00     0.00    78.83
ARM - 5 Year/6 Month                                   5.968      14.493         57        0.00     0.00    76.09
ARM - 2 Year/6 Month - Balloon - 30/40                 6.220      14.936         21        0.00     0.00    80.12
ARM - 3 Year/6 Month - Balloon - 30/40                 6.513      15.383         33        0.00     0.00    80.00
ARM - 2 Year/6 Month - Balloon - 30/50                 5.250      13.450         21        0.00     0.00    80.00
Interest Only Arm - 2 Year/6 Month                     6.278      14.496         20        0.00     0.00    80.76
Interest Only Arm - 3 Year/6 Month                     6.416      14.641         33        0.00     0.00    80.55
Interest Only Arm - 5 Year/6 Month                     4.733      13.736         58        0.00     0.00    77.91
Dual Amort - 10/40 - 2 Year/6 Month                    5.358      12.777         16        0.00     0.00    75.59
------------------------------------------------------------------------------------------------------------------
Total:                                                 6.361      15.071         23        3.49    13.20    80.13
------------------------------------------------------------------------------------------------------------------

                                                        Wtd Avg Comb
                                                            Orig        Wtd Avg      Pct               Pct
                                                        Simultaneous   Comb Orig   Cashout  Pct Full  Owner   Back   FICO
Product                                                  Second LTV   True SS LTV    Refi      Doc     Occ   Ratio  Score
-------------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                             64.85        64.85       86.1      43.0    83.6  41.82    631
Fixed - 15 Year                                             70.55        70.55       76.1      73.4    97.4  39.55    634
Fixed - 20 Year                                             76.51        76.51       56.7      45.2   100.0  42.81    634
Fixed - 25 Year                                             84.90        84.90      100.0      79.8   100.0  41.39    622
Fixed - 30 Year                                             80.16        80.05       72.9      56.7    91.7  40.85    620
Interest Only Fixed - 30 Year                               81.42        81.42       88.7      46.7    93.5  41.74    655
Balloon - 15/30                                             99.11        99.11        8.7      22.8    99.4  43.93    657
Balloon - 30/40                                             83.03        82.26       63.0      64.7    98.9  42.76    627
ARM - 1 Year/6 Month                                        84.95        84.95       50.5       0.0   100.0  47.25    602
ARM - 2 Year/6 Month                                        84.99        84.49       52.9      39.4    85.2  42.07    614
ARM - 3 Year/6 Month                                        83.13        82.69       66.1      51.2    95.0  42.71    592
ARM - 5 Year/6 Month                                        78.70        78.70       82.4      17.8    75.8  42.15    631
ARM - 2 Year/6 Month - Balloon - 30/40                      88.81        88.22       53.8      37.2    93.5  43.39    626
ARM - 3 Year/6 Month - Balloon - 30/40                      86.79        86.28       58.9      43.2    97.1  43.87    616
ARM - 2 Year/6 Month - Balloon - 30/50                     100.00       100.00        0.0     100.0   100.0  51.37    625
Interest Only Arm - 2 Year/6 Month                          94.04        92.81       34.0      37.1    98.2  43.34    658
Interest Only Arm - 3 Year/6 Month                          92.19        91.22       50.8      32.9    95.9  43.21    665
Interest Only Arm - 5 Year/6 Month                          79.81        79.81       65.3      73.6   100.0  42.51    676
Dual Amort - 10/40 - 2 Year/6 Month                         78.47        78.47       85.6      14.4   100.0  49.84    631
-------------------------------------------------------------------------------------------------------------------------
Total:                                                      87.42        86.82       52.4      41.0    92.5  42.79    626
-------------------------------------------------------------------------------------------------------------------------





                                                      Number of     Total     % of Total  Average     Total
                                                       Mortgage    Current     Current    Current    Original   Wtd Avg
Product with IO term                                    Loans      Balance     Balance    Balance    Balance     Coupon
-----------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                             7        496,311      0.06     70,902      505,900    8.252
Fixed - 15 Year                                            23      1,940,686      0.23     84,378    1,957,950    8.448
Fixed - 20 Year                                            24      1,990,559      0.24     82,940    1,999,670    8.449
Fixed - 25 Year                                             3        245,515      0.03     81,838      246,000    8.559
Fixed - 30 Year                                           489     62,069,627      7.43    126,932   62,194,565    8.684
Balloon - 15/30                                           354     23,914,670      2.86     67,556   23,951,647   11.437
Balloon - 30/40                                            67     14,725,319      1.76    219,781   14,738,639    7.933
ARM - 2 Year/6 Month Balloon 30/40                        789    213,147,286     25.53    270,149  213,339,670    8.242
ARM - 2 Year/6 Month Balloon 30/50                          1        203,935      0.02    203,935      204,000    8.450
ARM - 3 Year/6 Month Balloon 30/40                        211     44,732,369      5.36    212,002   44,764,789    8.383
ARM - 1 Year/6 Month                                        2        542,838      0.07    271,419      546,000    7.742
ARM - 2 Year/6 Month                                    1,203    227,698,738     27.27    189,276  228,284,081    8.687
ARM - 3 Year/6 Month                                      488     77,786,208      9.32    159,398   77,907,353    8.903
ARM - 5 Year/6 Month                                       12      1,990,884      0.24    165,907    1,995,430    8.472
Dual Amort - 10/40 - 2 Year/6 Month                         3        941,351      0.11    313,784      944,200    7.192
Interest Only ARM - 2 Year/6 Month - 24 mo. IO term         2        431,400      0.05    215,700      431,400    7.225
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term         3        639,500      0.08    213,167      639,500    7.938
Interest Only Fixed - 30 Year - 60 mo. IO term             14      4,480,985      0.54    320,070    4,481,050    7.527
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term       421    132,088,152     15.82    313,749  132,091,020    7.780
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term        81     22,362,444      2.68    276,080   22,364,750    7.772
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term         5      1,418,400      0.17    283,680    1,418,500    6.921
Interest Only Fixed - 30 Year - 120 mo. IO term             1        331,000      0.04    331,000      331,000    6.750
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term        1        186,686      0.02    186,686      186,686    8.000
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term        1         92,000      0.01     92,000       92,000    7.250
Interest Only ARM - 5 Year/6 Month - 120 mo. IO term        2        477,439      0.06    238,720      477,439    8.188
-----------------------------------------------------------------------------------------------------------------------
Total:                                                  4,207    834,934,301    100.00    198,463  836,093,239    8.458
-----------------------------------------------------------------------------------------------------------------------



                                                                                                             Wtd Avg
                                                        Wtd Avg  Wtd Avg Max    Wtd Avg    Pct 2nd    Pct      Comb
Product with IO term                                     Margin      Rate     Mos to Roll    Lien    Fixed  Orig LTV
--------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                          0.000       0.000          0        0.00   100.00    64.85
Fixed - 15 Year                                          0.000       0.000          0        9.69   100.00    69.52
Fixed - 20 Year                                          0.000       0.000          0        6.99   100.00    75.91
Fixed - 25 Year                                          0.000       0.000          0        0.00   100.00    84.90
Fixed - 30 Year                                          0.000       0.000          0        8.33   100.00    78.47
Balloon - 15/30                                          0.000       0.000          0       99.00   100.00    99.11
Balloon - 30/40                                          0.000       0.000          0        0.00   100.00    78.80
ARM - 2 Year/6 Month Balloon 30/40                       6.220      14.936         21        0.00     0.00    80.12
ARM - 2 Year/6 Month Balloon 30/50                       5.250      13.450         21        0.00     0.00    80.00
ARM - 3 Year/6 Month Balloon 30/40                       6.513      15.383         33        0.00     0.00    80.00
ARM - 1 Year/6 Month                                     5.250      13.753          4        0.00     0.00    84.95
ARM - 2 Year/6 Month                                     6.337      15.268         21        0.00     0.00    79.02
ARM - 3 Year/6 Month                                     6.928      15.881         33        0.00     0.00    78.83
ARM - 5 Year/6 Month                                     5.968      14.493         57        0.00     0.00    76.09
Dual Amort - 10/40 - 2 Year/6 Month                      5.358      12.777         16        0.00     0.00    75.59
Interest Only ARM - 2 Year/6 Month - 24 mo. IO term      6.757      14.225         22        0.00     0.00    79.45
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term      6.958      14.938         34        0.00     0.00    77.28
Interest Only Fixed - 30 Year - 60 mo. IO term           0.000       0.000          0        0.00   100.00    77.12
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term      6.281      14.497         20        0.00     0.00    80.77
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term      6.418      14.638         33        0.00     0.00    80.65
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term      4.946      13.921         58        0.00     0.00    76.10
Interest Only Fixed - 30 Year - 120 mo. IO term          0.000       0.000          0        0.00   100.00    79.95
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term     3.000      14.000         22        0.00     0.00    80.00
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term     2.250      13.250         35        0.00     0.00    80.00
Interest Only ARM - 5 Year/6 Month - 120 mo. IO term     4.102      13.188         57        0.00     0.00    83.29
--------------------------------------------------------------------------------------------------------------------
Total:                                                   6.361      15.071         23        3.49    13.20    80.13
--------------------------------------------------------------------------------------------------------------------


                                                        Wtd Avg Comb
                                                            Orig       Wtd Avg       Pct               Pct
                                                        Simultaneous  Comb Orig    Cashout  Pct Full  Owner   Back   FICO
Product with IO term                                      Second LTV  True SS LTV    Refi      Doc     Occ   Ratio  Score
-------------------------------------------------------------------------------------------------------------------------

Fixed - 10 Year                                             64.85        64.85       86.1      43.0    83.6  41.82    631
Fixed - 15 Year                                             70.55        70.55       76.1      73.4    97.4  39.55    634
Fixed - 20 Year                                             76.51        76.51       56.7      45.2   100.0  42.81    634
Fixed - 25 Year                                             84.90        84.90      100.0      79.8   100.0  41.39    622
Fixed - 30 Year                                             80.16        80.05       72.9      56.7    91.7  40.85    620
Balloon - 15/30                                             99.11        99.11        8.7      22.8    99.4  43.93    657
Balloon - 30/40                                             83.03        82.26       63.0      64.7    98.9  42.76    627
ARM - 2 Year/6 Month Balloon 30/40                          88.81        88.22       53.8      37.2    93.5  43.39    626
ARM - 2 Year/6 Month Balloon 30/50                         100.00       100.00        0.0     100.0   100.0  51.37    625
ARM - 3 Year/6 Month Balloon 30/40                          86.79        86.28       58.9      43.2    97.1  43.87    616
ARM - 1 Year/6 Month                                        84.95        84.95       50.5       0.0   100.0  47.25    602
ARM - 2 Year/6 Month                                        84.99        84.49       52.9      39.4    85.2  42.07    614
ARM - 3 Year/6 Month                                        83.13        82.69       66.1      51.2    95.0  42.71    592
ARM - 5 Year/6 Month                                        78.70        78.70       82.4      17.8    75.8  42.15    631
Dual Amort - 10/40 - 2 Year/6 Month                         78.47        78.47       85.6      14.4   100.0  49.84    631
Interest Only ARM - 2 Year/6 Month - 24 mo. IO term         89.21        89.21       51.2      51.2   100.0  29.07    606
Interest Only ARM - 3 Year/6 Month - 36 mo. IO term         91.16        91.16       64.3      35.7   100.0  39.93    631
Interest Only Fixed - 30 Year - 60 mo. IO term              81.52        81.52       87.8      42.8    93.0  42.09    657
Interest Only ARM - 2 Year/6 Month - 60 mo. IO term         94.06        92.82       34.0      37.0    98.4  43.38    658
Interest Only ARM - 3 Year/6 Month - 60 mo. IO term         92.19        91.19       50.6      32.9    95.8  43.30    666
Interest Only ARM - 5 Year/6 Month - 60 mo. IO term         78.64        78.64       87.3      87.3   100.0  42.26    686
Interest Only Fixed - 30 Year - 120 mo. IO term             79.95        79.95      100.0     100.0   100.0  37.02    638
Interest Only ARM - 2 Year/6 Month - 120 mo. IO term        95.00        95.00        0.0     100.0     0.0  46.89    641
Interest Only ARM - 3 Year/6 Month - 120 mo. IO term       100.00       100.00        0.0       0.0   100.0  44.60    652
Interest Only ARM - 5 Year/6 Month - 120 mo. IO term        83.29        83.29        0.0      33.0   100.0  44.81    646
-------------------------------------------------------------------------------------------------------------------------
Total:                                                      87.42        86.82       52.4      41.0    92.5  42.79    626
-------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 13 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                                                Wtd
                  Number                  % of                                           Wtd    Avg
                    of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos    Pct
                 Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to     2nd
Index Type         Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
----------------------------------------------------------------------------------------------------------

Fixed Rate           982   110,194,672    13.20  112,215  110,406,421   9.118   0.000   0.000    0   26.47
Libor - 6 Month    3,225   724,739,629    86.80  224,725  725,686,818   8.358   6.361  15.071   23    0.00
----------------------------------------------------------------------------------------------------------
Total:             4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
----------------------------------------------------------------------------------------------------------


                                     Wtd        Wtd
                                     Avg        Avg
                           Wtd      Comb       Comb
                           Avg      Orig       Orig
                          Comb  Simultaneous   True    Pct     Pct   Pct
                   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Index Type        Fixed    LTV       LTV        LTV    Refi    Doc   Occ   Ratio  Score
---------------------------------------------------------------------------------------

Fixed Rate       100.00  82.69      84.42     84.25    58.2   50.0   94.7  41.85   631
Libor - 6 Month    0.00  79.74      87.88     87.21    51.6   39.6   92.2  42.93   625
---------------------------------------------------------------------------------------
Total:            13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
---------------------------------------------------------------------------------------




                                                                                                Wtd
                  Number                  % of                                           Wtd    Avg
                    of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos    Pct
                 Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to     2nd
Balloon            Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
----------------------------------------------------------------------------------------------------------

Balloon            1,422   296,723,578    35.54  208,666  296,998,745   8.506   6.270  15.012   23    7.98
Non-Balloon        2,785   538,210,723    64.46  193,253  539,094,494   8.432   6.411  15.103   24    1.02
----------------------------------------------------------------------------------------------------------
Total:             4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
----------------------------------------------------------------------------------------------------------


                                     Wtd        Wtd
                                     Avg        Avg
                           Wtd      Comb       Comb
                           Avg      Orig       Orig
                          Comb  Simultaneous   True    Pct     Pct   Pct
                   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Balloon           Fixed    LTV       LTV        LTV    Refi    Doc   Occ   Ratio  Score
---------------------------------------------------------------------------------------

Balloon           13.02  81.57      89.05     88.52    51.4   38.4   94.8  43.48   627
Non-Balloon       13.29  79.34      86.52     85.89    53.0   42.5   91.3  42.40   625
---------------------------------------------------------------------------------------
Total:            13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
---------------------------------------------------------------------------------------






                                                                                                Wtd
                  Number                  % of                                           Wtd    Avg
                    of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos    Pct
                 Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to     2nd
Original Term      Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
----------------------------------------------------------------------------------------------------------

61 - 120               7       496,311     0.06   70,902      505,900   8.252   0.000   0.000    0    0.00
121 - 180            377    25,855,356     3.10   68,582   25,909,597  11.213   0.000   0.000    0   92.30
181 - 240             24     1,990,559     0.24   82,940    1,999,670   8.449   0.000   0.000    0    6.99
241 - 300              3       245,515     0.03   81,838      246,000   8.559   0.000   0.000    0    0.00
301 - 360          3,796   806,346,560    96.58  212,420  807,432,072   8.370   6.361  15.071   23    0.64
----------------------------------------------------------------------------------------------------------
Total:             4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
----------------------------------------------------------------------------------------------------------


                                     Wtd        Wtd
                                     Avg        Avg
                           Wtd      Comb       Comb
                           Avg      Orig       Orig
                          Comb  Simultaneous   True    Pct     Pct   Pct
                   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Original Term     Fixed    LTV       LTV        LTV    Refi    Doc   Occ   Ratio  Score
---------------------------------------------------------------------------------------

61 - 120         100.00  64.85      64.85     64.85     86.1  43.0    83.6 41.82   631
121 - 180        100.00  96.89      96.97     96.97     13.8  26.6    99.3 43.63   656
181 - 240        100.00  75.91      76.51     76.51     56.7  45.2   100.0 42.81   634
241 - 300        100.00  84.90      84.90     84.90    100.0  79.8   100.0 41.39   622
301 - 360         10.12  79.61      87.15     86.54     53.6  41.5    92.3 42.76   625
---------------------------------------------------------------------------------------
Total:            13.20  80.13      87.42     86.82     52.4  41.0    92.5 42.79   626
---------------------------------------------------------------------------------------


Minimum: 120
Maximum: 360
Weighted Average: 354.0





                                                                                                Wtd
                  Number                  % of                                           Wtd    Avg
                    of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos    Pct
Interest         Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to     2nd
Only Term          Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
----------------------------------------------------------------------------------------------------------

0                  3,676   672,426,295    80.54  182,923  673,579,894   8.626   6.384  15.228   24    4.34
24                     2       431,400     0.05  215,700      431,400   7.225   6.757  14.225   22    0.00
36                     3       639,500     0.08  213,167      639,500   7.938   6.958  14.938   34    0.00
60                   521   160,349,981    19.21  307,773  160,355,320   7.764   6.288  14.512   23    0.00
120                    5     1,087,125     0.13  217,425    1,087,125   7.638   3.605  13.396   46    0.00
----------------------------------------------------------------------------------------------------------
Total:             4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
----------------------------------------------------------------------------------------------------------


                                     Wtd        Wtd
                                     Avg        Avg
                           Wtd      Comb       Comb
                           Avg      Orig       Orig
                          Comb  Simultaneous   True    Pct     Pct   Pct
Interest           Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Only Term         Fixed    LTV       LTV        LTV    Refi    Doc   Occ   Ratio  Score
---------------------------------------------------------------------------------------

0                 15.67  80.02      86.01     85.55    55.8   41.9   91.3  42.67   618
24                 0.00  79.45      89.21     89.21    51.2   51.2  100.0  29.07   606
36                 0.00  77.28      91.16     91.16    64.3   35.7  100.0  39.93   631
60                 2.79  80.61      93.31     92.15    38.3   37.0   97.9  43.32   659
120               30.45  81.43      85.70     85.70    30.4   62.1   82.8  41.93   643
---------------------------------------------------------------------------------------
Total:            13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
---------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 14 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                Wtd
                  Number                  % of                                           Wtd    Avg
                    of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos    Pct
                 Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to     2nd
Seasoning          Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
----------------------------------------------------------------------------------------------------------

 0                     2       542,000     0.06  271,000      542,000   8.514   6.701  14.514   24    0.00
 1                   196    39,070,474     4.68  199,339   39,084,393   8.478   6.010  15.269   25    0.16
 2                 1,522   309,225,630    37.04  203,171  309,459,531   8.422   6.447  15.347   25    1.13
 3                 1,264   238,861,468    28.61  188,973  239,284,007   8.499   6.545  15.114   24    3.59
 4                   629   131,346,951    15.73  208,819  131,550,869   8.467   6.137  14.444   21    4.97
 5                   292    55,355,979     6.63  189,575   55,465,197   8.620   6.106  14.912   21   10.81
 6                   118    21,495,847     2.57  182,168   21,552,290   8.608   6.213  15.047   19    9.33
 7                    74    16,027,384     1.92  216,586   16,064,402   8.192   6.198  14.898   17    4.85
 8                    56    10,385,884     1.24  185,462   10,423,249   8.314   5.983  14.537   16    7.50
 9                    36     8,323,881     1.00  231,219    8,347,268   8.127   6.058  14.650   16    8.98
10                    15     3,977,689     0.48  265,179    3,996,900   7.377   5.965  13.732   15    3.52
11                     2       247,855     0.03  123,927      249,484   8.983   5.500  14.715   13   40.13
12                     1        73,261     0.01   73,261       73,650  10.240   0.000   0.000    0    0.00
----------------------------------------------------------------------------------------------------------
Total:             4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
----------------------------------------------------------------------------------------------------------


                                     Wtd        Wtd
                                     Avg        Avg
                           Wtd      Comb       Comb
                           Avg      Orig       Orig
                          Comb  Simultaneous   True     Pct     Pct    Pct
                   Pct    Orig     Second       SS    Cashout  Full   Owner   Back   FICO
Seasoning         Fixed    LTV       LTV        LTV     Refi    Doc    Occ   Ratio  Score
-----------------------------------------------------------------------------------------

 0                 0.00  75.23      75.23      75.23    53.5    46.5  100.0  44.86   609
 1                10.22  79.18      84.76      84.63    61.5    48.1   92.5  41.86   620
 2                 8.58  79.58      87.58      87.17    48.6    39.6   90.7  42.71   628
 3                17.20  80.44      87.03      86.16    56.2    39.1   92.8  43.29   623
 4                14.95  80.22      87.10      86.46    56.0    47.3   93.4  42.43   627
 5                21.14  81.45      88.13      86.92    48.0    39.6   95.4  42.59   627
 6                16.12  81.30      88.91      88.91    49.9    51.1   97.5  41.78   619
 7                 8.80  81.90      92.81      92.81    49.3    37.6   98.3  43.00   633
 8                 9.22  80.55      83.98      83.98    60.5    35.4   90.4  43.26   619
 9                13.44  78.99      92.50      92.50    32.6    26.1   96.0  43.41   645
10                 3.52  80.57      94.12      92.29    30.0    12.8  100.0  44.10   668
11                40.13  88.03     100.00     100.00     0.0     0.0  100.0  40.62   683
12               100.00  99.97      99.97      99.97     0.0   100.0  100.0  32.30   615
-----------------------------------------------------------------------------------------
Total:            13.20  80.13      87.42      86.82    52.4    41.0   92.5  42.79   626
-----------------------------------------------------------------------------------------


Minimum: 0
Maximum: 12
Weighted Average: 3.1



                                                                                                   Wtd
                     Number                  % of                                           Wtd    Avg
                       of        Total      Total   Average      Total      Wtd     Wtd     Avg    Mos    Pct
Remaining Term      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to     2nd
to Stated Maturity    Loans     Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll   Lien
-------------------------------------------------------------------------------------------------------------

61 - 120                 7        496,311     0.06   70,902      505,900   8.252   0.000   0.000    0    0.00
121 - 180              377     25,855,356     3.10   68,582   25,909,597  11.213   0.000   0.000    0   92.30
181 - 240               24      1,990,559     0.24   82,940    1,999,670   8.449   0.000   0.000    0    6.99
241 - 300                3        245,515     0.03   81,838      246,000   8.559   0.000   0.000    0    0.00
301 - 360            3,796    806,346,560    96.58  212,420  807,432,072   8.370   6.361  15.071   23    0.64
-------------------------------------------------------------------------------------------------------------
Total:               4,207    834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23    3.49
-------------------------------------------------------------------------------------------------------------


                                        Wtd        Wtd
                                        Avg        Avg
                              Wtd      Comb       Comb
                              Avg      Orig       Orig
                             Comb  Simultaneous   True    Pct     Pct   Pct
Remaining Term        Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
to Stated Maturity   Fixed    LTV       LTV        LTV    Refi    Doc   Occ   Ratio  Score
------------------------------------------------------------------------------------------

61 - 120            100.00  64.85      64.85     64.85    86.1   43.0   83.6  41.82   631
121 - 180           100.00  96.89      96.97     96.97    13.8   26.6   99.3  43.63   656
181 - 240           100.00  75.91      76.51     76.51    56.7   45.2  100.0  42.81   634
241 - 300           100.00  84.90      84.90     84.90   100.0   79.8  100.0  41.39   622
301 - 360            10.12  79.61      87.15     86.54    53.6   41.5   92.3  42.76   625
------------------------------------------------------------------------------------------
Total:               13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
------------------------------------------------------------------------------------------


Minimum: 117
Maximum: 360
Weighted Average: 350.8

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 15 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                          Wtd
                   Number                   % of                                                 Wtd      Avg
                    of           Total      Total    Average     Total         Wtd      Wtd      Avg      Mos
Calculated        Mortgage      Current    Current   Current     Original      Avg      Avg      Max      to
Remaining Term     Loans        Balance    Balance   Balance     Balance     Coupon   Margin     Rate    Roll
-------------------------------------------------------------------------------------------------------------

1 - 60                  1         41,062     0.00     41,062       164,500    8.875    5.875    15.875    21
61 - 120                7        496,311     0.06     70,902       505,900    8.252    0.000     0.000     0
121 - 180              23      1,940,686     0.23     84,378     1,957,950    8.448    0.000     0.000     0
181 - 240               4      1,990,559     0.24     82,940     1,999,670    8.449    0.000     0.000     0
241 - 300               3        245,515     0.03     81,838       246,000    8.559    0.000     0.000     0
301 - 360            3,078    56,469,908    66.65    180,789   557,227,921    8.563    6.413    15.108    24
421 - 480            1,070   273,546,325    32.76    255,651   273,787,298    8.245    6.268    15.005    23
481 >=                   1       203,935     0.02    203,935       204,000    8.450    5.250    13.450    21
-------------------------------------------------------------------------------------------------------------
Total:               4,207   834,934,301   100.00    198,463   836,093,239    8.458    6.361    15.071    23
-------------------------------------------------------------------------------------------------------------


                                               Wtd         Wtd
                                               Avg         Avg
                                   Wtd        Comb        Comb
                                   Avg        Orig        Orig
                   Pct            Comb    Simultaneous    True      Pct       Pct    Pct
Calculated         2nd     Pct     Orig      Second        SS     Cashout    Full   Owner    Back    FICO
Remaining Term    Lien    Fixed    LTV         LTV         LTV     Refi      Doc    Occ     Ratio   Score
---------------------------------------------------------------------------------------------------------

1 - 60            0.00     0.00   70.00       70.00       70.00    100.0      0.0     0.0   44.58    621
61 - 120          0.00   100.00   64.85       64.85       64.85     86.1     43.0    83.6   41.82    631
121 - 180         9.69   100.00   69.52       70.55       70.55     76.1     73.4    97.4   39.55    634
181 - 240         6.99   100.00   75.91       76.51       76.51     56.7     45.2   100.0   42.81    634
241 - 300         0.00   100.00   84.90       84.90       84.90    100.0     79.8   100.0   41.39    622
301 - 360         5.18    16.32   80.25       87.19       86.58     50.7     41.5    91.6   42.46    627
421 - 480         0.00     5.38   80.02       88.13       87.55     55.3     39.6    94.4   43.45    625
481 >=            0.00     0.00   80.00      100.00      100.00      0.0    100.0   100.0   51.37    625
---------------------------------------------------------------------------------------------------------
Total:            3.49    13.20   80.13       87.42       86.82     52.4     41.0    92.5   42.79    626
---------------------------------------------------------------------------------------------------------


Minimum: 36
Maximum: 597
Weighted Average: 395.3





                                                                                                     Wtd
               Number                    % of                                                Wtd     Avg
                 of         Total       Total    Average     Total         Wtd      Wtd      Avg     Mos
              Mortgage     Current     Current   Current    Original       Avg      Avg      Max     to
Origination    Loans       Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll
--------------------------------------------------------------------------------------------------------

2005-08              1        73,261      0.01    73,261        73,650   10.240    0.000    0.000     0
2005-09              2       247,855      0.03   123,927       249,484    8.983    5.500   14.715    13
2005-10             14     3,854,883      0.46   275,349     3,872,900    7.401    5.951   13.769    15
2005-11             37     8,552,532      1.02   231,150     8,578,268    8.104    6.000   14.621    16
2005-12             57    10,691,318      1.28   187,567    10,728,749    8.255    6.031   14.496    16
2006-01             72    15,496,955      1.86   215,235    15,533,474    8.221    6.148   14.934    17
2006-02            127    23,879,417      2.86   188,027    23,941,728    8.559    6.236   15.021    20
2006-03            294    55,434,136      6.64   188,551    55,538,817    8.638    6.089   14.916    20
2006-04            664   139,039,974     16.65   209,398   139,252,298    8.468    6.162   14.450    22
2006-05          1,239   232,071,086     27.80   187,305   232,484,841    8.492    6.574   15.130    24
2006-06          1,547   315,431,268     37.78   203,899   315,663,838    8.423    6.426   15.352    25
2006-07            153    30,161,615      3.61   197,135    30,175,193    8.539    5.947   15.240    25
--------------------------------------------------------------------------------------------------------
Total:           4,207   834,934,301    100.00   198,463   836,093,239    8.458    6.361   15.071    23
--------------------------------------------------------------------------------------------------------


                                            Wtd         Wtd
                                            Avg         Avg
                                 Wtd        Comb        Comb
                                 Avg        Orig        Orig
                Pct             Comb   Simultaneous    True      Pct      Pct     Pct
                2nd     Pct     Orig      Second        SS     Cashout    Full   Owner    Back    FICO
Origination    Lien    Fixed    LTV        LTV          LTV      Refi     Doc     Occ    Ratio   Score
------------------------------------------------------------------------------------------------------

2005-08        0.00   100.00   99.97       99.97       99.97      0.0    100.0   100.0   32.30    615
2005-09       40.13    40.13   88.03      100.00      100.00      0.0      0.0   100.0   40.62    683
2005-10        3.63     3.63   80.59       93.93       92.04     31.0     10.0   100.0   44.23    669
2005-11        8.74    13.08   78.01       90.93       90.93     35.5     26.9    96.2   43.57    642
2005-12        7.28     8.95   81.14       84.88       84.88     59.5     38.3    90.7   43.37    624
2006-01        5.01     9.11   82.10       93.23       93.23     50.5     37.8    98.3   43.20    631
2006-02        8.68    17.20   80.11       87.16       87.05     52.6     50.9    98.1   41.54    615
2006-03       10.81    20.33   81.58       88.28       87.01     47.9     40.0    95.3   42.47    628
2006-04        4.74    14.77   80.21       86.83       86.28     58.6     48.3    93.9   42.61    625
2006-05        3.63    17.42   80.52       87.33       86.43     54.9     38.2    92.7   43.30    623
2006-06        1.11     8.36   79.47       87.29       86.89     49.5     40.1    90.7   42.64    628
2006-07        0.20    12.24   80.12       86.72       86.55     51.2     43.7    90.3   41.96    626
------------------------------------------------------------------------------------------------------
Total:         3.49    13.20   80.13       87.42       86.82     52.4     41.0    92.5   42.79    626
------------------------------------------------------------------------------------------------------


Minimum: 2005-08-10
Maximum: 2006-07-31
Weighted Average: 2006-05-12

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 16 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                 Wtd
           Number                    % of                                                Wtd     Avg
First        of         Total       Total    Average      Total        Wtd      Wtd      Avg     Mos
Payment   Mortgage     Current     Current   Current    Original       Avg      Avg      Max     to
Date        Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll
----------------------------------------------------------------------------------------------------

2005-10          1        73,261     0.01     73,261        73,650   10.240    0.000    0.000     0
2005-11          2       247,855     0.03    123,927       249,484    8.983    5.500   14.715    13
2005-12         15     3,977,689     0.48    265,179     3,996,900    7.377    5.965   13.732    15
2006-01         36     8,323,881     1.00    231,219     8,347,268    8.127    6.058   14.650    16
2006-02         56    10,385,884     1.24    185,462    10,423,249    8.314    5.983   14.537    16
2006-03         75    16,143,968     1.93    215,253    16,181,402    8.196    6.194   14.896    17
2006-04        118    21,634,461     2.59    183,343    21,691,290    8.605    6.235   15.054    19
2006-05        293    55,475,313     6.64    189,336    55,584,197    8.621    6.092   14.907    21
2006-06        628   131,084,292    15.70    208,733   131,287,869    8.468    6.141   14.446    21
2006-07      1,263   238,749,596    28.60    189,034   239,172,007    8.498    6.544   15.113    24
2006-08      1,522   309,225,630    37.04    203,171   309,459,531    8.422    6.447   15.347    25
2006-09        196    39,070,474     4.68    199,339    39,084,393    8.478    6.010   15.269    25
2006-10          2       542,000     0.06    271,000       542,000    8.514    6.701   14.514    24
----------------------------------------------------------------------------------------------------
Total:       4,207   834,934,301   100.00    198,463   836,093,239    8.458    6.361   15.071    23
----------------------------------------------------------------------------------------------------


                                        Wtd         Wtd
                                        Avg         Avg
                            Wtd        Comb        Comb
                            Avg        Orig        Orig
First      Pct              Comb   Simultaneous    True      Pct      Pct     Pct
Payment    2nd      Pct     Orig      Second        SS     Cashout    Full   Owner    Back    FICO
Date       Lien    Fixed    LTV        LTV          LTV      Refi     Doc     Occ    Ratio   Score
--------------------------------------------------------------------------------------------------

2005-10    0.00   100.00   99.97       99.97       99.97      0.0    100.0   100.0   32.30    615
2005-11   40.13    40.13   88.03      100.00      100.00      0.0      0.0   100.0   40.62    683
2005-12    3.52     3.52   80.57       94.12       92.29     30.0     12.8   100.0   44.10    668
2006-01    8.98    13.44   78.99       92.50       92.50     32.6     26.1    96.0   43.41    645
2006-02    7.50     9.22   80.55       83.98       83.98     60.5     35.4    90.4   43.26    619
2006-03    4.81     8.74   81.96       92.79       92.79     49.0     38.0    97.6   42.96    633
2006-04    9.27    16.02   81.24       88.80       88.80     49.6     50.2    98.1   41.89    619
2006-05   10.92    21.23   81.47       88.25       86.93     47.9     39.5    95.4   42.58    627
2006-06    4.92    14.93   80.20       87.06       86.46     56.2     47.4    93.4   42.43    627
2006-07    3.59    17.20   80.44       87.04       86.16     56.2     39.2    92.8   43.29    623
2006-08    1.13     8.58   79.58       87.58       87.17     48.6     39.6    90.7   42.71    628
2006-09    0.16    10.22   79.18       84.76       84.63     61.5     48.1    92.5   41.86    620
2006-10    0.00     0.00   75.23       75.23       75.23     53.5     46.5   100.0   44.86    609
--------------------------------------------------------------------------------------------------
Total:     3.49    13.20   80.13       87.42       86.82     52.4     41.0    92.5   42.79    626
--------------------------------------------------------------------------------------------------


Minimum: 2005-10-01
Maximum: 2006-10-01
Weighted Average: 2006-06-27






                 Number                   % of                                                 Wtd
                   of         Total       Total    Average      Total        Wtd      Wtd      Avg
                Mortgage     Current     Current   Current     Original      Avg      Avg      Max
Maturity Date     Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate
---------------------------------------------------------------------------------------------------

2016                  7        496,311     0.06     70,902       505,900    8.252    0.000    0.000
2020                 10        957,334     0.11     95,733       961,582    9.959    0.000    0.000
2021                367     24,898,022     2.98     67,842    24,948,015   11.261    0.000    0.000
2025                  1         29,209     0.00     29,209        29,500   11.700    0.000    0.000
2026                 23      1,961,350     0.23     85,276     1,970,170    8.401    0.000    0.000
2031                  3        245,515     0.03     81,838       246,000    8.559    0.000    0.000
2035                 43     11,636,142     1.39    270,608    11,676,220    7.743    6.018   14.336
2036              3,753    794,710,417    95.18    211,753   795,755,852    8.379    6.366   15.082
---------------------------------------------------------------------------------------------------
Total:            4,207    834,934,301   100.00    198,463   836,093,239    8.458    6.361   15.071
---------------------------------------------------------------------------------------------------


                                                       Wtd         Wtd
                                                       Avg         Avg
                 Wtd                       Wtd        Comb        Comb
                 Avg                       Avg        Orig        Orig
                 Mos     Pct              Comb    Simultaneous    True      Pct      Pct     Pct
                 to      2nd      Pct     Orig       Second         SS    Cashout    Full   Owner   Back     FICO
Maturity Date   Roll    Lien     Fixed     LTV         LTV         LTV     Refi      Doc     Occ    Ratio   Score
-----------------------------------------------------------------------------------------------------------------

2016              0      0.00   100.00    64.85       64.85       64.85     86.1     43.0    83.6   41.82    631
2020              0    100.00   100.00    90.59       90.59       90.59     46.0     48.2   100.0   42.22    726
2021              0     92.00   100.00    97.14       97.22       97.22     12.5     25.8    99.2   43.68    653
2025              0    100.00   100.00   100.00      100.00      100.00      0.0    100.0   100.0   36.03    615
2026              0      5.60   100.00    75.55       76.16       76.16     57.5     44.4   100.0   42.91    634
2031              0      0.00   100.00    84.90       84.90       84.90    100.0     79.8   100.0   41.39    622
2035             16      0.00     3.82    78.85       93.40       92.77     29.8     19.5    97.2   43.63    647
2036             24      0.65    10.21    79.62       87.06       86.44     54.0     41.8    92.2   42.75    625
-----------------------------------------------------------------------------------------------------------------
Total:           23      3.49    13.20    80.13       87.42       86.82     52.4     41.0    92.5   42.79    626
-----------------------------------------------------------------------------------------------------------------


Minimum: 2016-06-01
Maximum: 2036-09-01
Weighted Average: 2035-11-26





                                                                                                Wtd
           Number                 % of                                                  Wtd     Avg
Paid         of         Total      Total    Average      Total        Wtd      Wtd      Avg     Mos
Thru      Mortgage     Current    Current   Current    Original       Avg      Avg      Max     to
Date        Loans      Balance    Balance   Balance     Balance     Coupon   Margin    Rate    Roll
---------------------------------------------------------------------------------------------------

2006-09     4,207    834,934,301   100.00   198,463   836,093,239    8.458    6.361   15.071    23
---------------------------------------------------------------------------------------------------
Total:      4,207    834,934,301   100.00   198,463   836,093,239    8.458    6.361   15.071    23
---------------------------------------------------------------------------------------------------


                                      Wtd        Wtd
                                      Avg        Avg
                          Wtd        Comb        Comb
                          Avg        Orig        Orig
Paid       Pct            Comb   Simultaneous    True     Pct      Pct    Pct
Thru       2nd    Pct     Orig      Second        SS    Cashout   Full   Owner    Back    FICO
Date      Lien   Fixed    LTV        LTV         LTV      Refi     Doc    Occ    Ratio   Score
----------------------------------------------------------------------------------------------

2006-09   3.49   13.20   80.13      87.42       86.82     52.4    41.0    92.5   42.79    626
----------------------------------------------------------------------------------------------
Total:    3.49   13.20   80.13      87.42       86.82     52.4    41.0    92.5   42.79    626
----------------------------------------------------------------------------------------------


Minimum: 2006-09-01
Maximum: 2006-09-01
Weighted Average: 2006-09-01

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 17 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                     Wtd
                       Number                 % of                                            Wtd    Avg
Geographic               of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
Distribution          Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
by State                Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

Alabama                    20     1,519,188     0.18   75,959    1,521,525   9.329   6.231  16.388   22
Alaska                      1       133,713     0.02  133,713      134,000   9.150   6.500  15.150   20
Arizona                   175    31,983,040     3.83  182,760   32,015,551   8.512   6.746  15.349   24
Arkansas                   11     1,463,672     0.18  133,061    1,465,544   9.051   6.588  16.065   25
California                915   271,051,190    32.46  296,231  271,331,931   8.166   6.331  14.653   22
Colorado                   55     8,053,445     0.96  146,426    8,062,530   8.508   6.055  15.117   25
Connecticut                74    14,903,474     1.78  201,398   14,926,643   8.554   6.454  14.846   24
Delaware                   10     1,743,122     0.21  174,312    1,744,950   8.938   6.666  15.428   26
District of Columbia        7     2,015,943     0.24  287,992    2,019,920   7.838   5.017  14.527   25
Florida                   666   119,157,019    14.27  178,914  119,323,093   8.545   6.630  15.235   25
Georgia                    92    13,333,788     1.60  144,932   13,473,990   8.939   6.562  15.723   25
Hawaii                     27    11,337,657     1.36  419,913   11,348,209   8.095   6.310  14.965   22
Idaho                      24     3,303,212     0.40  137,634    3,306,335   9.198   6.287  16.423   23
Illinois                  323    57,253,943     6.86  177,257   57,325,394   8.729   5.606  15.382   24
Indiana                    47     4,368,331     0.52   92,943    4,375,510   9.271   6.371  15.971   23
Iowa                       13     1,436,424     0.17  110,494    1,439,140   9.099   5.939  14.980   20
Kansas                     19     2,186,016     0.26  115,053    2,189,100   9.111   6.430  15.739   23
Kentucky                   11       933,526     0.11   84,866      934,875   8.681   6.248  15.220   23
Louisiana                  21     2,482,711     0.30  118,224    2,487,015   8.809   6.888  15.598   26
Maine                       8     1,601,769     0.19  200,221    1,604,093   8.332   6.138  14.597   22
Maryland                  115    25,717,947     3.08  223,634   25,745,240   8.335   6.413  14.882   24
Massachusetts              90    20,615,447     2.47  229,061   20,645,114   8.671   6.165  15.321   25
Michigan                  125    13,436,421     1.61  107,491   13,458,764   9.272   6.844  16.092   25
Minnesota                  20     3,885,830     0.47  194,291    3,891,260   8.431   6.070  14.903   22
Mississippi                 6       525,541     0.06   87,590      526,250  10.289   6.300  15.850   23
Missouri                   66     7,492,887     0.90  113,529    7,503,690   9.323   6.802  16.364   25
Montana                     1       297,455     0.04  297,455      297,500  10.150   6.300  17.150   23
Nebraska                    4       323,119     0.04   80,780      323,450   9.080   6.239  15.837   22
Nevada                     93    19,876,786     2.38  213,729   19,898,057   8.152   6.308  14.691   21
New Hampshire               6     1,140,538     0.14  190,090    1,142,470   8.679   5.721  15.173   21
New Jersey                 78    20,673,940     2.48  265,051   20,698,288   8.901   6.564  15.749   24
New Mexico                 15     2,654,555     0.32  176,970    2,658,220   8.607   5.729  15.308   22
New York                  139    41,732,227     5.00  300,232   41,784,254   8.075   5.660  14.706   23
North Carolina             41     4,797,170     0.57  117,004    4,803,600   9.013   7.154  16.134   27
North Dakota                4       438,790     0.05  109,697      439,240   9.379   5.978  16.379   22
Ohio                       50     4,958,808     0.59   99,176    4,966,254   9.482   6.497  16.268   24
Oklahoma                   12     1,193,942     0.14   99,495    1,196,005   8.964   6.101  15.785   22
Oregon                     48     8,388,711     1.00  174,765    8,397,379   8.274   6.453  15.124   27
Pennsylvania              125    15,389,417     1.84  123,115   15,413,229   8.798   6.594  15.675   26
Rhode Island               74    15,231,725     1.82  205,834   15,248,980   8.545   6.777  14.836   25
South Carolina              9       699,965     0.08   77,774      700,725   9.491   6.316  16.193   21
South Dakota                1        85,158     0.01   85,158       85,300   8.950   0.000   0.000    0
Tennessee                  64     7,215,692     0.86  112,745    7,225,985   9.170   6.632  16.164   24
Texas                     267    26,645,529     3.19   99,796   26,705,460   8.714   6.596  15.670   27
Utah                       15     2,950,694     0.35  196,713    2,954,670   8.559   6.397  15.314   26
Vermont                     2       201,986     0.02  100,993      203,000   7.412   6.028  14.412   21
Virginia                   99    17,526,643     2.10  177,037   17,550,583   8.716   6.569  15.216   26
Washington                 87    16,283,977     1.95  187,172   16,302,850   8.239   6.494  14.907   25
Wisconsin                  30     3,942,375     0.47  131,412    3,948,075   8.739   6.507  15.361   23
Wyoming                     2       349,843     0.04  174,921      350,000   8.195   6.310  15.195   23
-------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
-------------------------------------------------------------------------------------------------------


                                                Wtd       Wtd
                                                Avg       Avg
                                     Wtd       Comb       Comb
                                     Avg       Orig       Orig
Geographic              Pct           Comb  Simultaneous   True    Pct     Pct    Pct
Distribution            2nd    Pct    Orig     Second       SS   Cashout   Full  Owner   Back   FICO
by State               Lien   Fixed   LTV        LTV       LTV     Refi    Doc    Occ   Ratio  Score
---------------------------------------------------------------------------------------------------

Alabama               2.91   45.51  81.08      81.46     81.46    64.0    69.9   84.3  36.46   558
Alaska                0.00    0.00  80.00      90.00     90.00     0.0     0.0  100.0  47.44   659
Arizona               1.90    7.49  78.87      85.50     85.10    60.9    39.3   97.5  42.12   612
Arkansas              1.53    4.12  81.69      95.42     95.42     8.7    67.1  100.0  41.76   590
California            5.54    9.76  80.11      89.50     88.57    44.2    30.4   93.3  43.43   641
Colorado              5.35   17.96  81.52      91.03     90.75    55.9    56.2   87.7  42.23   630
Connecticut           2.11   13.92  78.40      83.98     83.24    58.4    54.3   99.2  44.29   616
Delaware              2.12    2.12  80.69      89.29     89.29    89.1    26.6   94.3  45.60   621
District of Columbia  0.00    0.00  74.39      79.46     79.46    74.6    51.8   86.5  40.24   640
Florida               3.91   12.26  79.54      85.79     85.24    51.3    37.8   89.7  42.90   622
Georgia               1.14   11.21  82.98      90.97     90.97    57.2    60.9   90.8  40.62   614
Hawaii                0.55    5.60  78.34      87.55     87.55    58.3    25.0   85.6  45.18   652
Idaho                 0.00   17.89  85.33      88.53     88.53    54.9    55.8   73.1  40.05   612
Illinois              3.05   12.48  81.62      88.15     87.62    58.1    36.7   92.0  43.86   622
Indiana               2.24   27.81  85.90      91.84     91.84    49.2    80.8   93.5  40.87   593
Iowa                  1.15    6.35  78.52      79.71     79.71    38.0    59.3  100.0  40.65   602
Kansas                0.00   14.68  76.18      81.53     81.53    67.3    82.6   94.9  37.64   588
Kentucky              1.58    5.97  82.57      87.56     87.56    56.7    79.2  100.0  41.70   593
Louisiana             2.12   39.30  83.67      85.40     85.40    67.9    69.6   95.2  38.66   608
Maine                 0.00    0.00  89.72      89.72     89.72    53.5    47.7   54.4  42.30   657
Maryland              1.74   10.06  78.32      83.24     82.74    73.5    62.7   96.0  41.93   613
Massachusetts         1.90   13.90  81.80      87.30     87.30    72.8    51.7   94.1  44.17   617
Michigan              1.76   15.33  82.68      89.01     88.49    54.9    53.6   91.8  39.81   594
Minnesota             0.70   11.89  81.04      88.30     88.30    52.4    33.1   80.8  45.95   627
Mississippi           8.29   78.70  90.47      92.03     92.03    21.3    78.7  100.0  46.66   570
Missouri              0.83   17.55  84.41      89.57     89.57    60.1    76.4   86.9  38.14   596
Montana               0.00    0.00  73.46      73.46     73.46   100.0     0.0  100.0  35.37   566
Nebraska              8.34    8.34  87.25      94.67     94.67    61.5    46.8  100.0  36.79   612
Nevada                4.74   10.44  81.56      91.37     90.88    43.3    34.8   90.0  43.93   636
New Hampshire         0.00   29.82  82.39      92.52     92.52    28.8    43.6  100.0  42.44   639
New Jersey            0.42   15.30  77.01      79.53     79.53    72.4    46.6   96.8  43.48   607
New Mexico            3.53    6.81  84.27      91.40     91.40    60.3    64.7   95.4  41.68   607
New York              0.76   25.21  76.69      84.02     83.60    51.0    33.6   95.4  42.92   650
North Carolina        1.10   24.72  81.62      89.81     89.81    48.8    53.3   82.7  40.12   615
North Dakota          0.00    0.00  92.38      95.87     95.87    27.9   100.0  100.0  41.89   588
Ohio                  0.64   24.32  84.45      90.18     90.18    49.0    69.7   84.7  41.65   596
Oklahoma              0.00   22.87  82.49      92.72     92.72    33.8    55.9   95.8  40.32   640
Oregon                0.53    4.01  79.82      85.92     85.50    70.8    66.7   95.0  40.79   606
Pennsylvania          1.29   17.55  81.23      85.53     85.17    58.9    59.1   92.2  40.06   608
Rhode Island          3.27   10.21  79.23      85.74     84.57    65.9    29.4   96.8  42.97   617
South Carolina        0.00   17.98  84.47      91.20     91.20    18.0    55.7   59.9  39.98   642
South Dakota          0.00  100.00  63.19      63.19     63.19   100.0   100.0  100.0  33.19   514
Tennessee             0.00   11.36  82.74      89.06     89.06    45.5    59.3   81.8  40.69   609
Texas                 3.76   39.66  81.65      87.02     86.18    35.8    53.3   91.5  40.49   615
Utah                  0.00    4.97  80.61      84.93     84.93    30.0    48.2   79.6  38.44   630
Vermont               0.00    0.00  71.05      83.72     83.72    36.6   100.0  100.0  43.80   597
Virginia              2.57   15.28  78.29      83.62     83.21    62.9    50.1   95.0  43.44   608
Washington            4.63   10.06  80.51      87.69     86.61    65.6    63.3   96.3  42.60   606
Wisconsin             4.82   14.37  82.91      92.14     91.10    48.4    60.3   91.0  39.26   622
Wyoming               0.00    0.00  75.02      75.02     75.02   100.0   100.0  100.0  49.70   569
---------------------------------------------------------------------------------------------------
Total:                3.49   13.20  80.13      87.42     86.82    52.4    41.0   92.5  42.79   626
---------------------------------------------------------------------------------------------------


Number of States Represented: 50

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 18 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                                                     Wtd
                       Number                 % of                                            Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
Northern-Southern     Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
California              Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

California-Northern      276     81,660,268    30.13  295,871   81,729,134   8.138   6.586  14.822   22
California-Southern      639    189,390,922    69.87  296,386  189,602,797   8.178   6.217  14.577   22
--------------------------------------------------------------------------------------------------------
Total:                   915    271,051,190   100.00  296,231  271,331,931   8.166   6.331  14.653   22
--------------------------------------------------------------------------------------------------------


                                               Wtd       Wtd
                                               Avg       Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
                       Pct          Comb  Simultaneous   True    Pct     Pct   Pct
Northern-Southern      2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
California            Lien  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

California-Northern   4.39   7.35  79.72      90.08     89.05    39.6   20.1   93.7  43.39   641
California-Southern   6.04  10.80  80.28      89.25     88.36    46.2   34.9   93.1  43.45   641
-------------------------------------------------------------------------------------------------
Total:                5.54   9.76  80.11      89.50     88.57    44.2   30.4   93.3  43.43   641
-------------------------------------------------------------------------------------------------






                                                                                                     Wtd
                       Number                 % of                                            Wtd    Avg
Geographic               of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
Distribution         Mortgage    Current    Current  Current   Original      Avg     Avg     Max    to
by Balance              Loans     Balance    Balance  Balance    Balance    Coupon  Margin    Rate  Roll
--------------------------------------------------------------------------------------------------------

California                915   271,051,190    32.46  296,231  271,331,931   8.166   6.331  14.653   22
Florida                   666   119,157,019    14.27  178,914  119,323,093   8.545   6.630  15.235   25
Illinois                  323    57,253,943     6.86  177,257   57,325,394   8.729   5.606  15.382   24
New York                  139    41,732,227     5.00  300,232   41,784,254   8.075   5.660  14.706   23
Arizona                   175    31,983,040     3.83  182,760   32,015,551   8.512   6.746  15.349   24
Texas                     267    26,645,529     3.19   99,796   26,705,460   8.714   6.596  15.670   27
Maryland                  115    25,717,947     3.08  223,634   25,745,240   8.335   6.413  14.882   24
New Jersey                 78    20,673,940     2.48  265,051   20,698,288   8.901   6.564  15.749   24
Massachusetts              90    20,615,447     2.47  229,061   20,645,114   8.671   6.165  15.321   25
Nevada                     93    19,876,786     2.38  213,729   19,898,057   8.152   6.308  14.691   21
Other                   1,346   200,227,232    23.98  148,757  200,620,858   8.741   6.497  15.406   25
--------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------------


                                               Wtd       Wtd
                                               Avg       Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
Geographic             Pct          Comb  Simultaneous   True    Pct     Pct   Pct
Distribution           2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
by Balance            Lien  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

California            5.54   9.76  80.11      89.50     88.57    44.2   30.4   93.3  43.43   641
Florida               3.91  12.26  79.54      85.79     85.24    51.3   37.8   89.7  42.90   622
Illinois              3.05  12.48  81.62      88.15     87.62    58.1   36.7   92.0  43.86   622
New York              0.76  25.21  76.69      84.02     83.60    51.0   33.6   95.4  42.92   650
Arizona               1.90   7.49  78.87      85.50     85.10    60.9   39.3   97.5  42.12   612
Texas                 3.76  39.66  81.65      87.02     86.18    35.8   53.3   91.5  40.49   615
Maryland              1.74  10.06  78.32      83.24     82.74    73.5   62.7   96.0  41.93   613
New Jersey            0.42  15.30  77.01      79.53     79.53    72.4   46.6   96.8  43.48   607
Massachusetts         1.90  13.90  81.80      87.30     87.30    72.8   51.7   94.1  44.17   617
Nevada                4.74  10.44  81.56      91.37     90.88    43.3   34.8   90.0  43.93   636
Other                 1.97  13.89  81.05      87.40     87.02    57.9   54.9   91.3  41.70   612
-------------------------------------------------------------------------------------------------
Total:                3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------------


Number of States Represented: 50





                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
Top 10 City           Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Concentrations          Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

Los Angeles CA             61    23,310,338     2.79  382,137   23,338,050   8.052   6.213  14.355   22
Chicago IL                103    19,614,507     2.35  190,432   19,639,830   8.672   5.468  15.380   23
Miami FL                   87    16,759,565     2.01  192,639   16,786,759   8.411   6.698  15.161   25
Las Vegas NV               73    15,177,706     1.82  207,914   15,191,480   8.187   6.443  14.704   22
Phoenix AZ                 67    10,435,216     1.25  155,749   10,445,810   8.287   6.799  15.167   25
Sacramento CA              25     6,895,218     0.83  275,809    6,900,710   7.968   6.930  14.803   22
San Jose CA                15     6,520,393     0.78  434,693    6,525,450   7.948   6.602  14.418   21
Orlando FL                 30     5,477,533     0.66  182,584    5,487,021   8.390   6.530  15.106   22
Brooklyn NY                14     5,448,071     0.65  389,148    5,453,500   8.085   5.370  14.392   22
Corona CA                  15     5,446,977     0.65  363,132    5,451,450   8.369   5.894  14.431   21
Other                   3,717   719,848,777    86.22  193,664  720,873,179   8.488   6.376  15.110   24
--------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------------


                                               Wtd       Wtd
                                               Avg       Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
                       Pct          Comb  Simultaneous   True    Pct     Pct   Pct
Top 10 City            2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Concentrations        Lien  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

Los Angeles CA        4.32   9.32  78.09      86.80     86.08    55.2   33.2   86.2  42.04   645
Chicago IL            3.10  10.50  79.96      85.93     85.50    57.2   35.7   83.7  43.29   629
Miami FL              6.01  12.98  78.07      84.31     83.86    51.3   43.6   96.9  45.16   626
Las Vegas NV          5.72   9.84  81.22      91.45     90.81    41.2   29.7   90.8  43.71   639
Phoenix AZ            2.72   5.34  78.59      85.76     85.44    65.0   35.4   96.5  43.64   628
Sacramento CA         1.00   8.69  83.03      94.60     94.60    36.0   21.5   90.8  46.07   645
San Jose CA           5.26   5.26  81.02      92.02     90.44    35.5   19.1  100.0  44.65   650
Orlando FL            2.63  10.78  80.08      84.73     84.73    59.3   47.3   87.6  41.10   612
Brooklyn NY           0.00  14.72  73.37      85.51     85.51    36.0   19.6   89.2  40.25   650
Corona CA             5.73   5.73  84.09      93.88     93.88    39.8   47.3  100.0  42.09   647
Other                 3.41  13.77  80.23      87.37     86.75    52.8   42.1   92.8  42.70   624
-------------------------------------------------------------------------------------------------
Total:                3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 19 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                               Wtd
                 Number                  % of                                          Wtd     Avg
Top 5              of        Total      Total   Average     Total      Wtd     Wtd     Avg     Mos
Zip Code        Mortgage    Current    Current  Current    Original    Avg     Avg     Max     to
Concentrations   Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------

92509                10     3,070,691     0.37  307,069    3,075,300   7.670   5.428  14.180   24
92880                 5     2,647,581     0.32  529,516    2,649,200   8.488   5.759  14.615   21
90011                 7     2,517,424     0.30  359,632    2,520,700   9.015   6.206  15.242   23
90044                 6     2,479,037     0.30  413,173    2,481,900   7.346   6.443  13.725   20
90650                 8     2,292,199     0.27  286,525    2,295,200   8.116   6.109  14.854   23
Other             4,171   821,927,370    98.44  197,058  823,070,939   8.464   6.368  15.081   24
--------------------------------------------------------------------------------------------------
Total:            4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------


                                                   Wtd
                                                    Avg
                              Wtd                  Comb
                              Avg     Wtd Avg      Orig
Top 5           Pct           Comb   Comb Orig     True    Pct     Pct   Pct
Zip Code        2nd    Pct    Orig  Simultaneous    SS   Cashout  Full  Owner   Back   FICO
Concentrations  Lien  Fixed   LTV    Second LTV    LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------

92509           1.90   1.90  79.79      88.89     87.36    45.1    9.3   92.5  41.15   654
92880           0.00   0.00  85.00      91.84     91.84    65.7   54.2  100.0  37.19   638
90011           4.56   4.56  80.85      83.65     83.65    81.5    0.0  100.0  43.78   596
90044           0.00   0.00  81.12      93.06     93.06    43.4   31.1  100.0  44.10   702
90650           7.76  24.97  76.02      85.54     82.73    27.4   34.3   82.8  38.88   632
Other           3.51  13.32  80.12      87.40     86.81    52.4   41.3   92.5  42.81   626
-------------------------------------------------------------------------------------------
Total:          3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------






                                                                                               Wtd
                 Number                 % of                                            Wtd    Avg
                   of        Total      Total   Average     Total      Wtd     Wtd      Avg    Mos
Number of       Mortgage    Current    Current  Current    Original    Avg     Avg      Max     to
Units             Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------

1                 3,907   756,877,904    90.65  193,724  757,935,476   8.454   6.379  15.074   23
2                   205    51,487,477     6.17  251,158   51,550,137   8.364   6.095  14.993   24
3                    62    15,850,883     1.90  255,659   15,871,401   8.980   6.497  15.445   25
4                    33    10,718,038     1.28  324,789   10,736,225   8.454   6.163  14.709   22
--------------------------------------------------------------------------------------------------
Total:            4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------


                                                   Wtd
                                                   Avg
                               Wtd                Comb
                              Avg     Wtd Avg     Orig
                 Pct          Comb   Comb Orig    True     Pct     Pct   Pct
Number of        2nd   Pct    Orig  Simultaneous   SS    Cashout  Full  Owner   Back  FICO
Units           Lien  Fixed   LTV    Second LTV    LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------

1               3.49  12.94  80.32      87.67     87.05    52.8   42.0   93.9  42.77   624
2               2.02  17.05  77.08      83.81     83.45    51.9   34.8   82.3  42.42   638
3               8.24  17.48  82.70      90.15     89.30    43.5   22.7   81.5  45.19   659
4               4.15   6.68  77.76      83.35     82.95    43.3   30.4   64.3  42.15   655
-------------------------------------------------------------------------------------------
Total:          3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------




                                                                                              Wtd
                 Number                  % of                                           Wtd   Avg
                   of        Total      Total   Average     Total      Wtd      Wtd     Avg   Mos
                Mortgage    Current    Current  Current    Original    Avg      Avg     Max    to
 Back Ratio      Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------

<= 0.00              16     3,583,945     0.43  223,997    3,589,540   8.469   5.740  15.523   27
0.01 - 5.00           5       932,510     0.11  186,502      935,200   8.166   5.574  14.435   20
5.01 - 10.00         11     1,640,156     0.20  149,105    1,642,080   8.365   6.161  15.377   21
10.01 - 15.00        24     4,053,408     0.49  168,892    4,060,720   8.159   6.322  15.088   23
15.01 - 20.00        50     6,891,373     0.83  137,827    6,904,219   8.503   6.388  15.080   23
20.01 - 25.00       111    16,047,340     1.92  144,571   16,069,155   8.724   6.570  15.427   25
25.01 - 30.00       192    31,652,726     3.79  164,858   31,693,519   8.507   6.349  15.122   24
30.01 - 35.00       319    55,348,836     6.63  173,507   55,419,039   8.476   6.373  15.026   24
35.01 - 40.00       574   104,558,477    12.52  182,158  104,695,855   8.412   6.302  15.081   23
40.01 - 45.00     1,119   232,650,008    27.86  207,909  233,057,365   8.425   6.189  15.091   23
45.01 - 50.00     1,392   295,759,293    35.42  212,471  296,100,005   8.489   6.474  15.056   23
50.01 - 55.00       368    74,787,971     8.96  203,228   74,888,279   8.473   6.539  15.034   24
55.01 - 60.00        26     7,028,257     0.84  270,318    7,038,264   8.008   6.131  14.553   25
--------------------------------------------------------------------------------------------------
Total:            4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------


                               Wtd
                               Avg     Wtd Avg      Wtd Avg
                  Pct         Comb    Comb Orig       Comb      Pct     Pct   Pct
                  2nd   Pct   Orig   Simultaneous  Orig True  Cashout  Full  Owner   Back   FICO
Back Ratio       Lien  Fixed   LTV    Second LTV     SS LTV     Refi    Doc   Occ   Ratio  Score
------------------------------------------------------------------------------------------------

<= 0.00          1.95  34.36  75.90      81.59       81.59      46.1    0.0  100.0   0.00   688
0.01 - 5.00     14.24  26.24  82.84      94.21       82.84      12.0   71.1   83.1   2.00   624
5.01 - 10.00     0.00   8.91  74.42      80.27       80.27      62.5   40.2   90.8   7.70   593
10.01 - 15.00    0.00  32.32  78.68      86.49       86.49      61.2   73.6   74.3  12.47   633
15.01 - 20.00    1.19   9.99  73.59      75.84       75.84      77.2   56.9   77.7  18.00   597
20.01 - 25.00    2.45  20.86  80.30      82.61       81.97      64.6   61.5   80.6  22.73   602
25.01 - 30.00    2.32  17.50  79.32      85.13       84.65      54.3   60.1   87.1  27.89   625
30.01 - 35.00    1.92  13.12  77.42      81.13       80.86      62.4   46.4   90.5  32.76   615
35.01 - 40.00    3.46  14.74  79.73      86.05       85.58      56.2   46.8   91.6  37.74   623
40.01 - 45.00    3.70  12.84  80.20      88.41       87.77      49.0   31.5   95.3  42.78   634
45.01 - 50.00    4.17  11.96  81.23      89.73       88.94      49.2   36.3   93.6  47.69   629
50.01 - 55.00    2.52  12.46  79.41      85.12       84.90      57.7   61.0   89.9  52.26   609
55.01 - 60.00    3.36   6.43  80.21      88.88       88.33      56.3   63.3   93.0  57.78   625
------------------------------------------------------------------------------------------------
Total:           3.49  13.20  80.13      87.42       86.82      52.4   41.0   92.5  42.79   626
------------------------------------------------------------------------------------------------


Minimum: 1.78
Maximum: 59.92
Weighted Average: 42.79

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 20 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                                              Wtd
                 Number                  % of                                           Wtd   Avg
                   of        Total      Total   Average     Total       Wtd    Wtd      Avg   Mos
                Mortgage    Current    Current  Current    Original     Avg    Avg      Max    to
Credit Grade      Loans     Balance    Balance  Balance    Balance    Coupon  Margin    Rate  Roll
--------------------------------------------------------------------------------------------------

                     49     7,281,637     0.87  148,605    7,292,018   8.641   6.358  14.575   26
A                   731   141,780,607    16.98  193,954  142,058,349   8.243   6.501  15.106   25
Ax                    8     1,588,238     0.19  198,530    1,589,940   9.610   6.282  16.610   22
A1                   33     5,306,841     0.64  160,813    5,324,200   8.651   6.074  13.590   17
AA                  653   164,329,245    19.68  251,653  164,523,638   8.097   5.883  14.373   21
AA 80/20              2       103,978     0.01   51,989      104,500  11.448   0.000   0.000    0
AAA                  66    16,566,063     1.98  251,001   16,575,403   7.798   6.094  14.798   23
AA+                   9     2,237,814     0.27  248,646    2,238,700   8.034   6.730  14.061   23
AX                   22     3,162,812     0.38  143,764    3,166,284   8.899   6.131  15.939   22
A-                  728   126,354,520    15.13  173,564  126,491,337   8.486   6.940  15.200   25
A+                  811   173,510,269    20.78  213,946  173,744,780   8.373   5.710  14.889   22
B                   339    62,526,285     7.49  184,443   62,617,233   8.934   6.844  15.667   26
B-                  177    28,883,582     3.46  163,184   28,920,705   8.920   7.190  15.827   27
B+                  200    36,063,252     4.32  180,316   36,111,395   8.472   7.158  15.338   25
C                   181    31,482,279     3.77  173,935   31,522,418   9.564   6.752  16.185   25
C-                   10     1,751,071     0.21  175,107    1,753,050  10.371   5.883  16.938   22
C+                  128    21,364,772     2.56  166,912   21,394,454   9.455   7.232  16.438   28
D                    10     1,877,880     0.22  187,788    1,880,100  10.593   6.654  16.617   21
Tier 1               38     6,082,442     0.73  160,064    6,097,522   8.258   5.750  14.752   19
Tier 2                5     1,529,042     0.18  305,808    1,531,884   8.853   6.000  15.712   19
Tier 3                2       210,259     0.03  105,130      211,000   8.836   6.250  15.836   18
Tier 4                5       941,414     0.11  188,283      944,330   9.279   6.500  16.279   18
--------------------------------------------------------------------------------------------------
Total:            4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------


                                  Wtd
                                  Avg      Wtd Avg     Wtd Avg
                  Pct             Comb     Comb Orig    Comb       Pct     Pct    Pct
                  2nd     Pct    Orig   Simultaneous  Orig True  Cashout   Full  Owner   Back   FICO
Credit Grade     Lien    Fixed    LTV    Second LTV     SS LTV    Refi     Doc    Occ   Ratio  Score
----------------------------------------------------------------------------------------------------

                  8.04   12.05   79.79      85.06        83.94     50.2    36.6   91.5  43.70   592
A                 3.96   15.46   80.11      89.63        88.81     45.9    26.4   92.1  42.43   653
Ax                0.00    0.00   78.32      84.88        84.88     45.7    34.7   29.4  45.07   616
A1               27.65   31.43   85.38      92.98        90.65     38.3    31.5   92.9  45.19   669
AA                0.97    7.12   81.06      89.35        89.13     48.5    45.0   89.6  42.80   637
AA 80/20        100.00  100.00  100.00     100.00       100.00      0.0    28.1  100.0  43.47   629
AAA               0.00    0.00   81.31      97.91        97.91      6.6    32.6   83.3  41.61   708
AA+               0.00   34.03   86.01      86.01        86.01     87.7    22.0  100.0  45.92   659
AX                0.00   15.99   83.16      87.52        87.52     48.5    62.2   85.8  37.05   604
A-                7.54   18.49   81.26      91.67        90.28     41.1    30.0   95.7  44.27   629
A+                4.56   15.92   81.51      89.02        88.16     45.8    43.9   90.3  42.07   643
B                 0.00   11.05   77.99      78.76        78.76     82.4    53.2   93.4  42.41   576
B-                0.00   10.88   78.54      79.73        79.73     76.6    62.5   99.2  42.88   563
B+                3.47   13.64   81.72      87.82        87.82     62.8    41.0   98.6  42.90   609
C                 0.00    8.33   70.70      70.90        70.90     86.1    70.2   96.4  42.51   540
C-                0.00    0.00   66.52      66.52        66.52     93.4   100.0  100.0  41.22   545
C+                0.00    9.80   74.26      74.69        74.69     89.1    49.4   98.5  43.34   537
D                 0.00   32.89   62.85      62.85        62.85    100.0    78.2  100.0  41.63   560
Tier 1           16.67   20.77   81.36      91.31        91.31     37.6    25.3   94.9  43.85   654
Tier 2            6.50    6.50   84.06      84.06        84.06     93.5    19.8  100.0  47.29   570
Tier 3            0.00    0.00   73.89      73.89        73.89    100.0   100.0  100.0  24.69   554
Tier 4            0.00    0.00   68.04      68.04        68.04    100.0     0.0  100.0  41.60   541
----------------------------------------------------------------------------------------------------
Total:            3.49   13.20   80.13      87.42        86.82     52.4    41.0   92.5  42.79   626
----------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 21 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                                                Wtd
                                                  Number                  % of                                           Wtd    Avg
                                                    of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                                                 Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Prepayment Penalty                                 Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
-----------------------------------------------------------------------------------------------------------------------------------

2 yr - 6 mo int->20%balance                        1,083   274,196,924    32.84  253,183  274,515,455   8.105   6.321  14.664   21
No Prepayment Penalty                              1,199   216,979,403    25.99  180,967  217,381,743   8.805   6.198  15.408   24
3 yr - 6 mo int->20%balance                          344    66,630,424     7.98  193,693   66,720,258   8.346   6.204  14.584   29
3 yr - 5% balance                                    337    52,696,249     6.31  156,369   52,762,627   8.495   7.071  15.434   33
2 yr - 5% unpaid prin/orig balance                   246    44,540,887     5.33  181,061   44,586,468   8.374   7.141  15.292   22
1 yr - 6 mo int->20%balance                          110    36,162,534     4.33  328,750   36,214,883   8.406   6.500  14.787   21
2 yr - 2% unpaid prin/orig balance                   106    17,121,230     2.05  161,521   17,144,525   8.777   6.512  15.128   21
3 yr - 2% balance                                     89    12,072,214     1.45  135,643   12,087,624   9.185   7.022  16.146   32
3 yr - 5% unpaid prin/orig balance->10%balance        69    11,856,910     1.42  171,839   11,867,123   8.838   5.946  15.835   33
1 yr - 5% unpaid prin/orig balance->10%balance        34    10,698,727     1.28  314,668   10,710,445   7.722   4.946  14.937   22
2 yr - 2%-1% unpaid prin/orig
   balance->20%balance                                74    10,419,683     1.25  140,807   10,431,126   8.904   6.082  15.904   22
3 yr - 1% balance                                     92    10,205,605     1.22  110,930   10,221,800   9.099   6.919  16.098   29
1 yr - 5% unpaid prin/orig balance                    37     9,569,790     1.15  258,643    9,579,730   8.036   5.353  15.266   24
1 yr - 2% unpaid prin/orig balance                    43     9,477,532     1.14  220,408    9,489,750   8.638   6.810  15.268   27
2 yr - 1% unpaid prin/orig balance                    67     8,352,746     1.00  124,668    8,365,930   9.116   6.623  15.813   21
2 yr - 2% unpaid prin/orig balance->20%balance        18     3,734,973     0.45  207,499    3,738,710   8.347   6.350  15.172   22
2 yr - 5% unpaid prin/orig balance->10%balance        19     3,419,564     0.41  179,977    3,423,460   8.522   5.731  15.461   21
2 yr - 2 mo int->33.3%balance                         11     2,532,194     0.30  230,199    2,536,420   8.120   5.971  14.647   21
3 yr - 3%-2%-1% unpaid prin/orig
   balance->20%balance                                18     2,437,606     0.29  135,423    2,440,518   8.489   5.950  15.031   57
5 yr - 5% balance                                     18     2,238,289     0.27  124,349    2,241,250   9.006   5.655  15.910   41
.5 yr - 5% unpaid prin/orig balance->10%balance       11     2,053,945     0.25  186,722    2,055,550   8.367   4.012  15.367   22
2 yr - 2%-1% balance                                  16     1,983,007     0.24  123,938    1,990,100   8.780   6.091  14.659   19
2 yr - 3%-2% balance                                  13     1,908,127     0.23  146,779    1,910,454   8.995   6.363  16.111   22
5 yr - 5% unpaid prin/orig balance->10%balance        15     1,902,699     0.23  126,847    1,904,850   8.766   5.484  15.765   37
3 yr - 3%-2%-1% balance                               14     1,664,203     0.20  118,872    1,666,860   9.555   7.358  17.279   34
3 yr - 5%-4%-3% balance                               15     1,652,231     0.20  110,149    1,655,465   8.583   7.085  14.989   34
5 yr - 6 mo int->20%balance                            7     1,561,372     0.19  223,053    1,562,650   8.174   4.521  15.021   35
2 yr - 6 mo int                                        6     1,481,553     0.18  246,925    1,484,300   7.878   6.000  13.878   20
2.5 yr - 1% balance                                    7     1,406,947     0.17  200,992    1,408,450   9.452   7.202  16.561   31
3 yr - Lessor of 2% or 2 mo int                        7     1,317,870     0.16  188,267    1,320,650   7.753   5.644  13.241   21
5 yr - 1% balance                                     13     1,295,481     0.16   99,652    1,297,420   9.614   6.639  16.711   28
3 yr - 2 mo int->33.3%balance                          3     1,036,158     0.12  345,386    1,037,200   7.271   3.827  14.279   34
2 yr - Lessor of 2% or 2 mo int                        6     1,025,820     0.12  170,970    1,027,050   8.952   6.273  15.655   22
.5yr - 6 mo int->20%balance                            2       807,804     0.10  403,902      808,000   8.819   5.819  15.314   21
2 yr - 5%-4% balance                                   6       795,022     0.10  132,504      796,450   8.960   6.648  15.393   21
.5 yr - 5% unpaid prin/orig balance                    2       627,962     0.08  313,981      629,000   8.684   6.666  15.684   19
1 yr - 3% unpaid prin/orig balance->10%balance         1       535,188     0.06  535,188      535,188   7.590   4.590  14.590   22
2 yr - 1% unpaid prin/orig balance->20%balance         7       531,458     0.06   75,923      532,350   9.482   6.900  16.482   21
3 yr - 2% unpaid prin/orig balance->20%balance         4       519,465     0.06  129,866      520,700   8.562   7.057  17.054   33
5 yr - 1% unpaid prin/orig balance->10%balance         4       450,245     0.05  112,561      451,154   8.856   5.303  15.587   24
2 yr - 3 mo int                                        2       442,677     0.05  221,339      443,050  10.259   6.209  17.259   22
3 yr - 6 mo int                                        1       440,000     0.05  440,000      440,000   6.950   5.200  12.950   19
5 yr - 2% balance                                      2       414,796     0.05  207,398      415,500   8.521   6.699  16.699   34
3 yr - 1% unpaid prin/orig balance->20%balance         4       406,388     0.05  101,597      407,100   9.178   6.554  15.979   31
1 yr - 1% unpaid prin/orig balance                     4       391,859     0.05   97,965      392,124   9.875   6.381  16.452   27
1 yr - 2% unpaid prin/orig balance->20%balance         2       387,062     0.05  193,531      387,450   9.168   6.011  14.867   22
1 yr - 3% unpaid prin/orig balance                     2       297,778     0.04  148,889      298,160   8.392   6.681  15.392   21
3 yr - 2 mo int->20%balance                            2       279,347     0.03  139,674      279,750   9.429   0.000   0.000    0
1 yr - 2 mo int->33.3%balance                          1       248,000     0.03  248,000      248,000   7.990   6.740  13.990   21
3 yr - 1% unpaid prin/orig balance->10%balance         2       247,567     0.03  123,784      247,920   9.016   6.611  16.016   24
3 yr - 3%-3%-2% balance                                2       244,076     0.03  122,038      244,300  10.871   0.000   0.000    0
3 yr - 3% balance                                      2       238,025     0.03  119,012      238,450   9.491   7.500  16.491   27
1 yr - 3% unpaid prin/orig balance->20%balance         2       225,281     0.03  112,641      225,500   9.586   6.270  16.586   22
1 yr - 2% unpaid prin/orig balance->10%balance         1       174,284     0.02  174,284      174,400   7.500   4.500  14.500   22
2 yr - 2% unpaid prin/orig balance->10%balance         1       163,007     0.02  163,007      163,200   8.625   5.625  15.625   22
3 yr - 3 mo int                                        1       158,436     0.02  158,436      158,650   7.990   0.000   0.000    0
4 yr - 5% unpaid prin/orig balance->10%balance         1       145,964     0.02  145,964      146,000   8.500   0.000   0.000    0
2 yr - 3% unpaid prin/orig balance                     1        79,891     0.01   79,891       80,000   7.925   6.050  14.925   22
2 yr - 2%-1% unpaid prin/orig balance                  1        49,824     0.01   49,824       50,000   8.750   5.800  14.750   18
-----------------------------------------------------------------------------------------------------------------------------------
Total:                                             4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
-----------------------------------------------------------------------------------------------------------------------------------


                                                                           Wtd         Wtd
                                                                           Avg         Avg
                                                                 Wtd       Comb       Comb
                                                                 Avg       Orig       Orig
                                                  Pct            Comb  Simultaneous   True     Pct     Pct    Pct
                                                  2nd     Pct    Orig     Second       SS    Cashout   Full  Owner   Back   FICO
Prepayment Penalty                                Lien   Fixed   LTV        LTV        LTV    Refi     Doc    Occ   Ratio  Score
--------------------------------------------------------------------------------------------------------------------------------

2 yr - 6 mo int->20%balance                       2.95    3.39  79.94      89.18      88.30    46.6    36.5   93.0  43.08   632
No Prepayment Penalty                             3.58   14.28  80.89      86.87      86.60    56.6    42.9   91.1  42.82   624
3 yr - 6 mo int->20%balance                      12.64   38.69  79.67      85.18      84.69    55.5    39.8   95.2  41.96   631
3 yr - 5% balance                                 3.69   20.92  79.29      84.83      84.07    61.5    49.9   96.8  43.78   614
2 yr - 5% unpaid prin/orig balance                1.47    2.60  80.52      87.68      86.56    52.0    33.1   92.3  43.85   622
1 yr - 6 mo int->20%balance                       2.32   12.73  79.81      87.52      86.42    49.9    38.1   91.0  43.45   643
2 yr - 2% unpaid prin/orig balance                0.96    5.07  79.70      83.43      83.12    75.4    56.6   92.9  41.53   602
3 yr - 2% balance                                 4.44   33.94  81.53      85.87      85.70    65.8    54.1   95.9  43.07   600
3 yr - 5% unpaid prin/orig balance->10%balance    0.00    7.08  79.28      86.50      86.50    54.7    28.3   90.2  42.71   611
1 yr - 5% unpaid prin/orig balance->10%balance    0.00   28.15  77.36      87.40      87.40    33.0    23.2   97.2  43.06   678
2 yr - 2%-1% unpaid prin/orig
   balance->20%balance                            0.00    0.00  83.70      89.24      89.24    28.2    67.0   76.9  40.24   615
3 yr - 1% balance                                 1.69   27.20  83.55      88.95      88.55    59.6    58.4   88.0  40.52   606
1 yr - 5% unpaid prin/orig balance                0.00   30.29  73.90      83.96      83.96    45.3    28.6   97.3  41.94   657
1 yr - 2% unpaid prin/orig balance                3.10    6.22  78.83      87.69      86.33    54.4    22.0   97.1  42.65   623
2 yr - 1% unpaid prin/orig balance                0.00    0.00  82.21      92.42      92.07    37.5    57.9   90.8  40.72   601
2 yr - 2% unpaid prin/orig balance->20%balance    0.00    0.00  78.73      93.07      91.76    16.7    45.2   95.8  41.15   622
2 yr - 5% unpaid prin/orig balance->10%balance    0.00    5.26  76.79      88.26      88.26    36.9    30.7   95.2  43.17   622
2 yr - 2 mo int->33.3%balance                     0.00    0.00  74.75      78.79      78.79    77.6    58.1   77.7  41.10   612
3 yr - 3%-2%-1% unpaid prin/orig
   balance->20%balance                            0.00   84.67  85.58      87.82      87.82    69.6    95.5   87.0  39.39   624
5 yr - 5% balance                                 0.00   89.41  77.70      77.70      77.70    92.0    71.1   73.9  41.53   566
.5 yr - 5% unpaid prin/orig balance->10%balance   0.00    0.00  76.25      92.20      92.20    45.4    18.6  100.0  43.35   647
2 yr - 2%-1% balance                              7.10   18.37  78.08      84.29      84.29    50.5    49.4   85.1  40.05   618
2 yr - 3%-2% balance                              0.00    6.77  81.29      94.73      94.73     8.4    69.1  100.0  42.46   604
5 yr - 5% unpaid prin/orig balance->10%balance    0.00   78.40  73.98      75.87      75.87    78.4    54.2   87.0  41.83   583
3 yr - 3%-2%-1% balance                           0.00   61.61  75.07      75.93      75.93    53.6    68.3   88.7  38.46   564
3 yr - 5%-4%-3% balance                           4.45   69.11  85.57      87.29      87.29    72.5    69.8  100.0  40.93   622
5 yr - 6 mo int->20%balance                       0.00   37.17  72.15      78.71      78.71    67.2    53.3  100.0  43.95   612
2 yr - 6 mo int                                   0.00    0.00  83.18      96.23      92.37    12.7    24.3  100.0  38.99   643
2.5 yr - 1% balance                               0.00   32.87  82.36      88.14      88.14    48.2    14.9   84.9  46.23   609
3 yr - Lessor of 2% or 2 mo int                   2.06   22.94  82.34      87.80      87.80    87.9    32.4   90.0  48.29   630
5 yr - 1% balance                                 0.00   36.91  81.51      83.36      83.36    85.8    78.6   89.6  37.83   562
3 yr - 2 mo int->33.3%balance                     0.00   28.23  76.08      76.08      76.08   100.0    80.2   80.2  38.16   642
2 yr - Lessor of 2% or 2 mo int                   0.00    0.00  79.63      85.62      85.62    43.0    35.0   55.2  42.54   618
.5yr - 6 mo int->20%balance                       0.00    0.00  82.08      91.98      91.98    50.5     0.0  100.0  42.27   642
2 yr - 5%-4% balance                              0.00    0.00  82.81      82.81      82.81    85.0    71.0   85.0  37.40   601
.5 yr - 5% unpaid prin/orig balance               0.00    0.00  76.55      89.64      89.64    34.5    34.5  100.0  43.30   611
1 yr - 3% unpaid prin/orig balance->10%balance    0.00    0.00  80.00     100.00     100.00     0.0   100.0  100.0  38.01   624
2 yr - 1% unpaid prin/orig balance->20%balance    0.00    0.00  76.58      79.28      79.28    86.5    74.3   78.7  33.45   575
3 yr - 2% unpaid prin/orig balance->20%balance    0.00   68.76  84.91      88.15      88.15    49.8   100.0  100.0  43.64   629
5 yr - 1% unpaid prin/orig balance->10%balance    0.00   27.95  77.57      83.78      83.78   100.0    77.5  100.0  38.04   567
2 yr - 3 mo int                                   0.00    0.00  86.55      86.55      86.55    34.5    34.5   65.5  33.17   573
3 yr - 6 mo int                                   0.00    0.00  80.00     100.00     100.00   100.0     0.0  100.0  46.15   661
5 yr - 2% balance                                 0.00   69.29  81.54      95.39      95.39   100.0    69.3  100.0  43.52   593
3 yr - 1% unpaid prin/orig balance->20%balance    0.00   27.96  84.33      84.33      84.33    60.7    74.9   74.9  33.78   601
1 yr - 1% unpaid prin/orig balance               12.26   12.26  82.45      88.65      88.65    56.7    87.7  100.0  39.58   550
1 yr - 2% unpaid prin/orig balance->20%balance    0.00    0.00  96.24      96.24      96.24    35.0    35.0  100.0  31.46   569
1 yr - 3% unpaid prin/orig balance                0.00    0.00  80.00     100.00     100.00     0.0    47.2  100.0  30.62   651
3 yr - 2 mo int->20%balance                       0.00  100.00  89.70      89.70      89.70   100.0    71.5  100.0  45.10   611
1 yr - 2 mo int->33.3%balance                     0.00    0.00  80.00     100.00     100.00     0.0   100.0  100.0  51.82   645
3 yr - 1% unpaid prin/orig balance->10%balance    0.00    0.00  80.00      90.96      90.96   100.0     0.0  100.0  43.13   609
3 yr - 3%-3%-2% balance                           0.00  100.00  93.31      99.97      99.97     0.0    66.9   66.9  44.77   602
3 yr - 3% balance                                 0.00    0.00  87.42      87.42      87.42    51.7    51.7  100.0  39.77   588
1 yr - 3% unpaid prin/orig balance->20%balance    0.00    0.00  86.80      86.80      86.80    64.1    35.9  100.0  41.38   555
1 yr - 2% unpaid prin/orig balance->10%balance    0.00    0.00  80.00     100.00     100.00     0.0     0.0  100.0  43.76   709
2 yr - 2% unpaid prin/orig balance->10%balance    0.00    0.00  85.00      85.00      85.00   100.0   100.0  100.0  49.31   591
3 yr - 3 mo int                                   0.00  100.00  95.00      95.00      95.00   100.0   100.0  100.0  46.68   659
4 yr - 5% unpaid prin/orig balance->10%balance    0.00  100.00  36.50      36.50      36.50   100.0     0.0  100.0  43.94   529
2 yr - 3% unpaid prin/orig balance                0.00    0.00  80.00     100.00     100.00     0.0   100.0  100.0  38.10   617
2 yr - 2%-1% unpaid prin/orig balance             0.00    0.00  40.00      40.00      40.00     0.0   100.0  100.0  30.14   513
--------------------------------------------------------------------------------------------------------------------------------
Total:                                            3.49   13.20  80.13      87.42      86.82    52.4    41.0   92.5  42.79   626
--------------------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 22 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                              Wtd
                Number                  % of                                           Wtd    Avg
                  of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
               Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Section 32       Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
-------------------------------------------------------------------------------------------------

Not High Cost    4,207   834,934,301   100.00  198,463  836,093,239   8.458  6.361   15.071   23
-------------------------------------------------------------------------------------------------
Total:           4,207   834,934,301   100.00  198,463  836,093,239   8.458  6.361   15.071   23
-------------------------------------------------------------------------------------------------


                                                  Wtd     Wtd
                                                  Avg     Avg
                                       Wtd        Comb    Comb
                                       Avg        Orig    Orig
                Pct          Comb  Simultaneous   True    Pct     Pct   Pct
                2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Section 32     Lien  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
------------------------------------------------------------------------------------------

Not High Cost  3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
------------------------------------------------------------------------------------------
Total:         3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
------------------------------------------------------------------------------------------






                                                                                               Wtd
                 Number                  % of                                           Wtd    Avg
                   of        Total      Total   Average     Total       Wtd    Wtd      Avg    Mos
                Mortgage    Current    Current  Current    Original     Avg    Avg      Max    to
Margin (%)        Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------

2.001 - 2.500        10     2,168,710     0.30  216,871    2,178,200   7.133   2.360  13.966   27
2.501 - 3.000         7     1,680,245     0.23  240,035    1,682,128   7.550   2.836  14.058   34
3.001 - 3.500         7     1,405,885     0.19  200,841    1,407,850   8.180   3.427  15.019   23
3.501 - 4.000        18     4,504,815     0.62  250,268    4,508,512   7.217   3.908  14.217   24
4.001 - 4.500        36     9,094,630     1.25  252,629    9,101,218   7.637   4.355  14.637   26
4.501 - 5.000       116    30,291,468     4.18  261,133   30,325,373   8.038   4.931  14.974   23
5.001 - 5.500       344    95,334,837    13.15  277,136   95,481,961   8.176   5.288  14.125   21
5.501 - 6.000       576   122,740,938    16.94  213,092  123,012,760   8.386   5.908  15.003   23
6.001 - 6.500       724   167,240,991    23.08  230,996  167,389,470   8.150   6.245  15.035   23
6.501 - 7.000       459   103,652,115    14.30  225,822  103,776,124   8.366   6.861  15.036   23
7.001 - 7.500       788   150,498,041    20.77  190,987  150,654,600   8.672   7.399  15.655   26
7.501 - 8.000        86    21,804,371     3.01  253,539   21,824,733   8.951   7.803  15.908   23
8.001 - 8.500        41    11,563,246     1.60  282,030   11,581,470   9.203   8.288  16.148   21
8.501 - 9.000         8     2,094,826     0.29  261,853    2,097,300   9.457   8.730  16.457   22
9.001 - 9.500         4       608,535     0.08  152,134      609,120  10.003   9.234  17.003   24
9.501 - 10.000        1        55,974     0.01   55,974       56,000  12.999   9.999  19.999   34
--------------------------------------------------------------------------------------------------
Total:            3,225   724,739,629   100.00  224,725  725,686,818   8.358   6.361  15.071   23
--------------------------------------------------------------------------------------------------


                                        Wtd        Wtd
                                        Avg        Avg
                              Wtd       Comb       Comb
                              Avg       Orig       Orig
                 Pct          Comb  Simultaneous   True    Pct     Pct   Pct
                 2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Margin (%)      Lien  Fixed   LTV       LTV        LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------

2.001 - 2.500   0.00   0.00  75.59      91.16     91.16    41.2   22.5  100.0  43.42   662
2.501 - 3.000   0.00   0.00  79.37      87.76     87.76    36.2   47.4   88.9  43.16   651
3.001 - 3.500   0.00   0.00  70.82      81.27     81.27    81.8   75.3  100.0  42.08   649
3.501 - 4.000   0.00   0.00  79.02      92.09     92.09    42.3   43.1  100.0  44.19   671
4.001 - 4.500   0.00   0.00  77.15      88.43     88.43    47.5   23.2   99.2  42.14   646
4.501 - 5.000   0.00   0.00  79.70      92.36     90.73    29.8   42.8   97.6  41.88   650
5.001 - 5.500   0.00   0.00  80.87      88.47     87.93    54.5   40.8   92.3  43.04   638
5.501 - 6.000   0.00   0.00  79.77      86.93     86.16    54.9   49.3   91.7  42.83   622
6.001 - 6.500   0.00   0.00  80.74      89.56     89.22    44.9   44.2   89.7  42.38   633
6.501 - 7.000   0.00   0.00  77.75      84.39     83.71    61.3   34.8   91.6  42.61   617
7.001 - 7.500   0.00   0.00  79.37      87.49     86.52    52.1   33.2   94.7  43.71   613
7.501 - 8.000   0.00   0.00  79.99      89.85     89.22    50.4   22.2   88.3  43.62   613
8.001 - 8.500   0.00   0.00  80.07      86.20     86.20    67.6   25.4   95.0  43.77   585
8.501 - 9.000   0.00   0.00  91.91      93.88     93.88    31.8   33.4   59.1  47.62   635
9.001 - 9.500   0.00   0.00  81.06      94.72     94.72     0.0   31.7   89.5  49.40   607
9.501 - 10.000  0.00   0.00  80.00      80.00     80.00     0.0    0.0    0.0  42.33   593
-------------------------------------------------------------------------------------------
Total:          0.00   0.00  79.74      87.88     87.21    51.6   39.6   92.2  42.93   625
-------------------------------------------------------------------------------------------


Minimum: 2.200
Maximum: 9.999
Weighted Average: 6.361





                                                                                                         Wtd
                           Number                  % of                                           Wtd    Avg
                             of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                          Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Initial Periodic Cap (%)    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
------------------------------------------------------------------------------------------------------------

1.000                           4       977,783     0.13  244,446      979,050   8.117   6.171  14.117   21
1.500                         536   113,700,175    15.69  212,127  113,939,492   8.478   5.604  15.478   24
2.000                         759   191,102,926    26.37  251,783  191,294,115   8.244   5.986  14.507   22
3.000                       1,922   418,202,620    57.70  217,587  418,718,037   8.379   6.744  15.223   24
5.000                           2       477,439     0.07  238,720      477,439   8.188   4.102  13.188   57
6.000                           2       278,686     0.04  139,343      278,686   7.752   2.752  13.752   26
------------------------------------------------------------------------------------------------------------
Total:                      3,225   724,739,629   100.00  224,725  725,686,818   8.358   6.361  15.071   23
------------------------------------------------------------------------------------------------------------


                                                  Wtd        Wtd
                                                  Avg        Avg
                                        Wtd       Comb       Comb
                                        Avg       Orig       Orig
                           Pct          Comb  Simultaneous   True    Pct     Pct   Pct
                           2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Initial Periodic Cap (%)  Lien  Fixed   LTV       LTV        LTV     Refi    Doc   Occ   Ratio  Score
-----------------------------------------------------------------------------------------------------

1.000                     0.00   0.00  86.17      86.17     86.17    80.0   51.6   80.0  41.66   632
1.500                     0.00   0.00  78.71      87.50     87.50    52.7   38.6   91.1  42.35   621
2.000                     0.00   0.00  79.43      86.37     86.32    54.3   49.1   89.4  42.28   630
3.000                     0.00   0.00  80.14      88.67     87.54    50.0   35.6   93.9  43.38   624
5.000                     0.00   0.00  83.29      83.29     83.29     0.0   33.0  100.0  44.81   646
6.000                     0.00   0.00  80.00      96.65     96.65     0.0   67.0   33.0  46.13   645
-----------------------------------------------------------------------------------------------------
Total:                    0.00   0.00  79.74      87.88     87.21    51.6   39.6   92.2  42.93   625
-----------------------------------------------------------------------------------------------------


Minimum: 1.000
Maximum: 6.000
Weighted Average: 2.501

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 23 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                         Wtd                   Wtd
                    Number                    % of                                               Wtd     Avg                   Avg
                      of         Total       Total    Average      Total       Wtd      Wtd      Avg     Mos    Pct            Comb
                   Mortgage     Current     Current   Current    Original      Avg      Avg      Max     to     2nd    Pct     Orig
Periodic Cap (%)    Loans       Balance     Balance   Balance     Balance    Coupon   Margin    Rate    Roll   Lien   Fixed    LTV
-----------------------------------------------------------------------------------------------------------------------------------

1.000                  929    226,572,420     31.26   243,889   226,919,994   8.360    5.952   14.459    21    0.00    0.00   80.12
1.500                2,280    493,139,917     68.04   216,289   493,724,658   8.360    6.558   15.353    25    0.00    0.00   79.62
2.000                   16      5,027,292      0.69   314,206     5,042,166   8.097    5.426   15.042    17    0.00    0.00   74.50
-----------------------------------------------------------------------------------------------------------------------------------
Total:               3,225    724,739,629    100.00   224,725   725,686,818   8.358    6.361   15.071    23    0.00    0.00   79.74
-----------------------------------------------------------------------------------------------------------------------------------


                        Wtd        Wtd
                        Avg        Avg
                       Comb        Comb
                       Orig        Orig
                   Simultaneous    True     Pct      Pct    Pct
                      Second        SS    Cashout   Full   Owner    Back    FICO
Periodic Cap (%)        LTV        LTV      Refi     Doc    Occ    Ratio   Score
--------------------------------------------------------------------------------

1.000                  86.66      85.75    55.0     43.6    91.0   42.55    624
1.500                  88.47      87.91    50.1     38.1    92.8   43.08    626
2.000                  84.63      84.63    45.6     13.1    93.6   44.37    646
--------------------------------------------------------------------------------
Total:                 87.88      87.21    51.6     39.6    92.2   42.93    625
--------------------------------------------------------------------------------


Minimum: 1.000
Maximum: 2.000
Weighted Average: 1.347





                                                                                                         Wtd                   Wtd
                    Number                    % of                                               Wtd     Avg                   Avg
                      of         Total       Total    Average       Total       Wtd      Wtd     Avg     Mos    Pct            Comb
Lifetime           Mortgage     Current     Current   Current     Original      Avg      Avg     Max     to     2nd    Pct     Orig
Rate Cap (%)         Loans      Balance     Balance   Balance      Balance    Coupon   Margin   Rate    Roll   Lien   Fixed    LTV
-----------------------------------------------------------------------------------------------------------------------------------

2.000                   1         116,630      0.02   116,630       116,910    9.700   5.250   11.700    19    0.00    0.00   90.00
4.200                   1         128,835      0.02   128,835       129,000   10.200   5.990   14.400    21    0.00    0.00   52.65
4.300                   1         432,814      0.06   432,814       433,500    7.700   5.250   12.000    19    0.00    0.00   85.00
5.000                 246      65,810,555      9.08   267,523    65,910,280    8.270   5.431   13.270    21    0.00    0.00   79.39
5.090                   1         121,655      0.02   121,655       122,000    8.900   5.990   13.990    19    0.00    0.00   78.71
5.100                   1         199,730      0.03   199,730       200,000    8.250   5.250   13.350    19    0.00    0.00   80.00
5.240                   1         149,717      0.02   149,717       150,000    8.360   5.990   13.600    21    0.00    0.00   52.26
5.620                   1         175,540      0.02   175,540       176,000    8.180   5.700   13.800    20    0.00    0.00   80.00
5.900                   1         315,688      0.04   315,688       316,000    9.500   6.990   15.400    22    0.00    0.00   80.00
5.910                   1         229,692      0.03   229,692       230,000    9.990   6.990   15.900    21    0.00    0.00   71.88
5.950                   1         178,689      0.02   178,689       179,200    7.750   6.500   13.700    20    0.00    0.00   80.00
6.000                 317      75,445,124     10.41   237,997    75,570,165    8.343   6.507   14.343    21    0.00    0.00   77.63
7.000               2,649     580,550,112     80.10   219,158   581,267,593    8.369   6.449   15.369    24    0.00    0.00   80.07
7.200                   1         303,200      0.04   303,200       303,200    6.700   5.800   13.900    19    0.00    0.00   80.00
7.500                   1         236,922      0.03   236,922       237,370    8.350   5.000   15.850    33    0.00    0.00   75.84
15.340                  1         344,727      0.05   344,727       345,600    8.350   6.990   23.690    20    0.00    0.00   80.00
-----------------------------------------------------------------------------------------------------------------------------------
Total:              3,225     724,739,629    100.00   224,725   725,686,818    8.358   6.361   15.071    23    0.00    0.00   79.74
-----------------------------------------------------------------------------------------------------------------------------------


                        Wtd         Wtd
                        Avg         Avg
                       Comb        Comb
                       Orig        Orig
                   Simultaneous    True      Pct      Pct     Pct
Lifetime              Second        SS     Cashout    Full    Owner   Back    FICO
Rate Cap (%)            LTV         LTV      Refi     Doc     Occ    Ratio   Score
----------------------------------------------------------------------------------

2.000                   95.00      95.00      0.0      0.0   100.0   34.85    591
4.200                   52.65      52.65    100.0      0.0   100.0   17.41    500
4.300                   85.00      85.00    100.0    100.0   100.0   47.09    562
5.000                   84.38      84.38     62.8     48.9    88.7   43.03    629
5.090                   78.71      78.71    100.0      0.0   100.0   36.91    594
5.100                   80.00      80.00    100.0    100.0   100.0   46.00    577
5.240                   52.26      52.26    100.0    100.0   100.0   55.38    520
5.620                  100.00     100.00    100.0    100.0   100.0   42.50    604
5.900                   80.00      80.00      0.0      0.0     0.0   44.59    551
5.910                   71.88      71.88    100.0      0.0   100.0   38.68    540
5.950                   80.00      80.00      0.0      0.0   100.0   45.22    582
6.000                   83.42      81.97     65.7     38.3    92.0   42.96    613
7.000                   88.87      88.24     48.4     38.8    92.7   42.91    627
7.200                  100.00      80.00      0.0      0.0   100.0   46.83    740
7.500                   75.84      75.84    100.0    100.0   100.0   49.95    580
15.340                 100.00     100.00    100.0      0.0   100.0   39.16    596
---------------------------------------------------------------------------------
Total:                  87.88      87.21     51.6     39.6    92.2   42.93    625
---------------------------------------------------------------------------------


Minimum: 2.000
Maximum: 15.340
Weighted Average: 6.713

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 24 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                          Wtd                   Wtd
                    Number                   % of                                                 Wtd     Avg                   Avg
                      of         Total       Total    Average      Total        Wtd     Wtd       Avg     Mos    Pct            Comb
Maximum Mortgage   Mortgage     Current     Current   Current     Original      Avg     Avg       Max     to     2nd    Pct     Orig
Rates (%)            Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll   Lien   Fixed    LTV
------------------------------------------------------------------------------------------------------------------------------------

10.501 - 11.000          3      1,090,005      0.15   363,335     1,092,900    5.997   5.250    10.997    20    0.00    0.00   78.88
11.001 - 11.500          7      2,242,097      0.31   320,300     2,244,200    6.297   5.303    11.297    22    0.00    0.00   73.19
11.501 - 12.000         17      5,208,115      0.72   306,360     5,223,888    6.948   5.293    11.875    20    0.00    0.00   76.51
12.001 - 12.500         27      8,725,652      1.20   323,172     8,742,824    7.164   5.375    12.299    20    0.00    0.00   76.19
12.501 - 13.000         84     23,768,286      3.28   282,956    23,802,118    7.531   5.419    12.865    21    0.00    0.00   80.70
13.001 - 13.500        104     29,105,055      4.02   279,856    29,143,896    7.372   5.780    13.327    22    0.00    0.00   79.07
13.501 - 14.000        250     64,577,386      8.91   258,310    64,661,558    7.435   5.921    13.841    23    0.00    0.00   77.48
14.001 - 14.500        346     90,057,163     12.43   260,281    90,157,312    7.562   6.193    14.314    23    0.00    0.00   79.18
14.501 - 15.000        619    154,283,391     21.29   249,246   154,442,022    7.944   6.313    14.809    23    0.00    0.00   79.26
15.001 - 15.500        430     98,102,008     13.54   228,144    98,209,960    8.415   6.633    15.283    24    0.00    0.00   80.11
15.501 - 16.000        519    104,486,319     14.42   201,322   104,720,951    8.868   6.556    15.796    24    0.00    0.00   79.87
16.001 - 16.500        280     56,049,693      7.73   200,177    56,116,982    9.320   6.839    16.286    24    0.00    0.00   81.65
16.501 - 17.000        296     52,923,224      7.30   178,795    52,975,848    9.824   6.679    16.787    25    0.00    0.00   81.01
17.001 - 17.500        115     17,008,201      2.35   147,897    17,024,030   10.313   6.853    17.269    25    0.00    0.00   82.49
17.501 - 18.000         92     12,477,295      1.72   135,623    12,487,495   10.838   6.926    17.779    27    0.00    0.00   83.97
18.001 - 18.500         21      2,692,761      0.37   128,227     2,695,535   11.216   6.869    18.216    23    0.00    0.00   76.37
18.501 - 19.000          5        521,670      0.07   104,334       521,950   11.794   6.879    18.794    24    0.00    0.00   90.79
19.001 - 19.500          4        596,608      0.08   149,152       597,550   12.107   6.167    19.107    21    0.00    0.00   86.35
19.501 - 20.000          5        479,972      0.07    95,994       480,200   12.870   6.736    19.870    23    0.00    0.00   91.39
23.501 - 24.000          1        344,727      0.05   344,727       345,600    8.350   6.990    23.690    20    0.00    0.00   80.00
------------------------------------------------------------------------------------------------------------------------------------
Total:               3,225    724,739,629    100.00   224,725   725,686,818    8.358   6.361    15.071    23    0.00    0.00   79.74
-----------------------------------------------------------------------------------------------------------------------------------


                        Wtd         Wtd
                        Avg         Avg
                       Comb        Comb
                       Orig        Orig
                   Simultaneous    True      Pct      Pct     Pct
Maximum Mortgage      Second        SS     Cashout    Full   Owner    Back    FICO
Rates (%)               LTV         LTV      Refi     Doc     Occ    Ratio   Score
----------------------------------------------------------------------------------

10.501 - 11.000         78.88      78.88    100.0    100.0   100.0   42.28    708
11.001 - 11.500         73.19      73.19    100.0     79.8   100.0   37.81    621
11.501 - 12.000         84.23      84.23     66.1     60.4    92.1   44.32    644
12.001 - 12.500         83.11      82.28     63.0     69.7    84.7   44.98    649
12.501 - 13.000         88.81      87.77     56.0     59.1    94.6   42.87    643
13.001 - 13.500         87.05      86.05     60.0     62.9    98.4   42.84    641
13.501 - 14.000         86.50      85.38     51.0     50.9    95.8   43.69    638
14.001 - 14.500         90.09      89.42     44.0     42.4    96.4   42.43    650
14.501 - 15.000         90.33      89.41     42.5     34.8    94.7   43.13    640
15.001 - 15.500         89.89      88.98     48.4     32.5    93.5   42.56    628
15.501 - 16.000         86.35      85.96     56.7     34.2    90.2   42.75    610
16.001 - 16.500         86.83      86.68     53.9     26.1    84.8   43.28    610
16.501 - 17.000         83.36      83.24     69.2     38.5    86.7   43.52    576
17.001 - 17.500         83.58      83.58     57.8     41.1    81.7   42.88    567
17.501 - 18.000         85.37      85.37     51.0     50.2    79.0   40.53    572
18.001 - 18.500         78.13      78.13     70.6     59.7    91.1   40.41    546
18.501 - 19.000         90.79      90.79     14.7     92.3    85.3   41.85    563
19.001 - 19.500         86.35      86.35     77.2     18.6    89.3   41.67    598
19.501 - 20.000         91.39      91.39      0.0      0.0     0.0   39.57    666
23.501 - 24.000        100.00     100.00    100.0      0.0   100.0   39.16    596
---------------------------------------------------------------------------------
Total:                  87.88      87.21     51.6     39.6    92.2   42.93    625
---------------------------------------------------------------------------------


Minimum: 10.990
Maximum: 23.690
Weighted Average: 15.071





                                                                                                          Wtd                   Wtd
                    Number                   % of                                                 Wtd     Avg                   Avg
                      of         Total       Total    Average      Total        Wtd      Wtd      Avg     Mos    Pct            Comb
Minimum Mortgage   Mortgage     Current     Current   Current     Original      Avg      Avg      Max     to     2nd    Pct     Orig
Rates (%)            Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll   Lien   Fixed    LTV
------------------------------------------------------------------------------------------------------------------------------------

5.501 - 6.000           11      3,539,485      0.49   321,771     3,552,885    7.012    5.060   13.319    22    0.00    0.00   77.92
6.001 - 6.500           48     13,346,398      1.84   278,050    13,362,066    6.478    5.790   13.053    24    0.00    0.00   77.24
6.501 - 7.000          178     47,361,242      6.53   266,074    47,417,714    6.864    5.761   13.537    23    0.00    0.00   77.63
7.001 - 7.500          339     89,903,723     12.40   265,203    90,003,568    7.318    6.059   14.047    23    0.00    0.00   78.90
7.501 - 8.000          672    172,884,806     23.85   257,269   173,072,761    7.815    6.221   14.513    23    0.00    0.00   79.31
8.001 - 8.500          468    110,806,183     15.29   236,765   110,938,886    8.288    6.537   15.010    23    0.00    0.00   80.04
8.501 - 9.000          568    118,049,761     16.29   207,834   118,303,874    8.798    6.495   15.543    24    0.00    0.00   79.54
9.001 - 9.500          323     66,980,184      9.24   207,369    67,063,004    9.289    6.760   16.017    24    0.00    0.00   81.07
9.501 - 10.000         335     60,876,415      8.40   181,721    60,940,628    9.794    6.604   16.536    25    0.00    0.00   81.25
10.001 - 10.500        134     20,121,968      2.78   150,164    20,141,913   10.291    6.735   16.979    24    0.00    0.00   83.25
10.501 - 11.000        104     14,825,160      2.05   142,550    14,838,648   10.774    6.774   17.461    26    0.00    0.00   83.34
11.001 - 11.500         25      3,609,194      0.50   144,368     3,613,702   11.207    6.750   17.909    22    0.00    0.00   72.33
11.501 - 12.000         10      1,308,419      0.18   130,842     1,309,270   11.772    6.532   18.060    22    0.00    0.00   74.81
12.001 - 12.500          4        596,608      0.08   149,152       597,550   12.107    6.167   19.107    21    0.00    0.00   86.35
12.501 - 13.000          6        530,084      0.07    88,347       530,350   12.838    6.666   19.649    23    0.00    0.00   90.78
------------------------------------------------------------------------------------------------------------------------------------
Total:               3,225    724,739,629    100.00   224,725   725,686,818    8.358    6.361   15.071    23    0.00    0.00   79.74
------------------------------------------------------------------------------------------------------------------------------------


                        Wtd       Wtd
                        Avg       Avg
                       Comb       Comb
                       Orig       Orig
                   Simultaneous   True      Pct     Pct     Pct
Minimum Mortgage      Second       SS     Cashout   Full   Owner    Back    FICO
Rates (%)               LTV       LTV       Refi    Doc     Occ    Ratio   Score
-------------------------------------------------------------------------------

5.501 - 6.000           85.28     85.28     63.6    47.0   100.0   42.51    655
6.001 - 6.500           84.95     84.41     65.9    80.1    98.9   42.29    653
6.501 - 7.000           89.46     88.18     43.4    61.0    99.1   43.81    653
7.001 - 7.500           90.14     89.16     43.7    49.1    96.9   42.42    653
7.501 - 8.000           90.03     89.03     45.2    38.3    94.7   43.23    642
8.001 - 8.500           89.80     89.02     49.9    34.9    95.0   42.76    631
8.501 - 9.000           85.78     85.39     56.7    33.6    90.5   42.72    612
9.001 - 9.500           86.01     85.80     55.8    26.4    85.0   43.27    607
9.501 - 10.000          83.55     83.45     68.1    37.3    85.2   43.37    579
10.001 - 10.500         84.60     84.60     57.3    35.3    77.6   42.89    573
10.501 - 11.000         84.70     84.70     55.0    46.5    81.8   41.26    574
11.001 - 11.500         73.65     73.65     78.1    56.9    93.3   39.21    548
11.501 - 12.000         74.81     74.81     54.9    65.4    94.2   39.31    535
12.001 - 12.500         86.35     86.35     77.2    18.6    89.3   41.67    598
12.501 - 13.000         90.78     90.78      9.5     0.0     0.0   39.35    654
-------------------------------------------------------------------------------
Total:                  87.88     87.21     51.6    39.6    92.2   42.93    625
-------------------------------------------------------------------------------


Minimum: 5.700
Maximum: 12.999
Weighted Average: 8.349

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 25 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                                  Wtd
                             Number                    % of                                                Wtd     Avg
                               of         Total       Total    Average      Total        Wtd      Wtd      Avg     Mos
                            Mortgage     Current     Current   Current     Original      Avg      Avg      Max     to
Next Rate Adjustment Date     Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll
----------------------------------------------------------------------------------------------------------------------

2007-01                           2        542,838     0.07    271,419       546,000    7.742    5.250   13.753     4
2007-10                           1        148,392     0.02    148,392       149,600    7.715    5.500   14.715    13
2007-11                          12      3,494,254     0.48    291,188     3,512,400    7.277    5.927   13.770    14
2007-12                          26      6,584,989     0.91    253,269     6,602,120    7.927    5.922   14.640    15
2008-01                          40      8,436,065     1.16    210,902     8,465,913    8.076    5.966   14.539    16
2008-02                          56     14,549,041     2.01    259,804    14,579,289    8.065    6.192   14.893    17
2008-03                          72     16,774,090     2.31    232,973    16,817,717    8.271    6.193   15.034    18
2008-04                         153     39,062,976     5.39    255,314    39,130,806    8.217    6.009   14.837    19
2008-05                         382     98,158,578    13.54    256,960    98,297,525    8.269    6.037   14.325    20
2008-06                         601    145,622,579    20.09    242,300   145,901,144    8.365    6.450   14.955    21
2008-07                         927    210,101,065    28.99    226,646   210,249,088    8.349    6.394   15.295    22
2008-08                         148     31,223,519     4.31    210,970    31,233,455    8.422    6.069   15.232    23
2008-09                           2        542,000     0.07    271,000       542,000    8.514    6.701   14.514    24
2008-11                           1        343,599     0.05    343,599       344,000    7.350    6.350   13.350    26
2008-12                           1        620,450     0.09    620,450       620,450    8.750    7.500   14.750    27
2009-01                           3        449,585     0.06    149,862       450,450    8.433    7.187   15.433    28
2009-02                           2        183,816     0.03     91,908       184,500    8.781    6.358   15.147    30
2009-03                           7      1,231,055     0.17    175,865     1,234,150    8.473    6.966   15.473    30
2009-04                          20      3,882,529     0.54    194,126     3,891,285    8.820    6.940   15.820    31
2009-05                          66     13,235,533     1.83    200,538    13,257,415    8.445    6.918   15.347    32
2009-06                         285     51,260,009     7.07    179,860    51,323,962    8.601    6.843   15.570    33
2009-07                         379     70,994,603     9.80    187,321    71,049,763    8.550    6.626   15.540    34
2009-08                          20      3,411,339     0.47    170,567     3,412,418    8.606    5.551   15.579    35
2011-03                           1        163,942     0.02    163,942       165,000    6.950    5.000   13.950    54
2011-04                           2        750,831     0.10    375,416       753,000    8.819    5.990   13.819    55
2011-05                           1        125,744     0.02    125,744       126,000    9.400    5.250   14.400    56
2011-06                           4        794,402     0.11    198,601       794,500    8.340    4.482   14.534    57
2011-07                           7      1,607,840     0.22    229,691     1,608,719    6.997    5.569   13.680    58
2011-08                           4        443,963     0.06    110,991       444,150    8.500    5.324   15.500    59
----------------------------------------------------------------------------------------------------------------------
Total:                        3,225    724,739,629   100.00    224,725   725,686,818    8.358    6.361   15.071    23
----------------------------------------------------------------------------------------------------------------------


                                                        Wtd         Wtd
                                                        Avg         Avg
                                            Wtd        Comb        Comb
                                            Avg        Orig        Orig
                             Pct            Comb   Simultaneous    True      Pct      Pct     Pct
                             2nd    Pct     Orig       Second       SS     Cashout    Full   Owner    Back    FICO
Next Rate Adjustment Date   Lien   Fixed    LTV         LTV         LTV      Refi     Doc     Occ    Ratio   Score
------------------------------------------------------------------------------------------------------------------

2007-01                     0.00    0.00   84.95       84.95       84.95     50.5      0.0   100.0   47.25    602
2007-10                     0.00    0.00   80.00      100.00      100.00      0.0      0.0   100.0   41.18    688
2007-11                     0.00    0.00   79.98       95.39       93.31     22.9     14.5   100.0   44.24    671
2007-12                     0.00    0.00   77.50       92.69       92.69     29.6     25.6    95.0   42.82    634
2008-01                     0.00    0.00   78.89       82.90       82.90     66.9     38.0    90.5   43.70    616
2008-02                     0.00    0.00   81.10       93.12       93.12     47.9     35.6    98.2   43.46    632
2008-03                     0.00    0.00   80.07       89.49       89.49     50.8     48.4    97.8   41.62    619
2008-04                     0.00    0.00   79.87       88.53       86.95     49.4     38.7    95.7   42.90    627
2008-05                     0.00    0.00   79.57       87.65       86.95     56.5     45.6    92.4   42.40    628
2008-06                     0.00    0.00   79.81       88.07       86.92     50.0     32.3    90.8   43.67    627
2008-07                     0.00    0.00   79.87       89.02       88.58     43.5     36.4    89.0   42.69    631
2008-08                     0.00    0.00   80.42       86.83       86.68     57.7     52.7    92.5   41.82    622
2008-09                     0.00    0.00   75.23       75.23       75.23     53.5     46.5   100.0   44.86    609
2008-11                     0.00    0.00   79.45       79.45       79.45    100.0      0.0   100.0   43.37    609
2008-12                     0.00    0.00   80.00       99.99       99.99      0.0      0.0   100.0   47.27    629
2009-01                     0.00    0.00   82.12       86.18       86.18     79.7     37.3    57.6   32.31    617
2009-02                     0.00    0.00   90.00       90.00       90.00     36.6     63.4    36.6   36.47    650
2009-03                     0.00    0.00   81.84       83.29       83.29     58.1     46.9   100.0   41.17    581
2009-04                     0.00    0.00   80.86       83.79       83.79     63.6     42.4    94.7   40.62    583
2009-05                     0.00    0.00   79.05       84.70       84.02     62.6     51.8    99.2   43.53    618
2009-06                     0.00    0.00   79.96       85.73       85.06     67.4     48.4    97.8   43.56    603
2009-07                     0.00    0.00   79.19       86.16       85.65     56.9     44.3    93.8   43.15    618
2009-08                     0.00    0.00   75.77       80.00       80.00     65.6     33.9   100.0   39.86    600
2011-03                     0.00    0.00   55.00       55.00       55.00    100.0    100.0   100.0   39.68    686
2011-04                     0.00    0.00   76.48       79.24       79.24    100.0      0.0   100.0   42.63    578
2011-05                     0.00    0.00   86.90       86.90       86.90    100.0      0.0   100.0   44.39    605
2011-06                     0.00    0.00   84.54       89.07       89.07     37.1     27.4   100.0   45.31    678
2011-07                     0.00    0.00   73.88       75.82       75.82     68.4     75.4    87.9   42.04    663
2011-08                     0.00    0.00   80.83       80.83       80.83    100.0     35.1    35.1   39.91    699
------------------------------------------------------------------------------------------------------------------
Total:                      0.00    0.00   79.74       87.88       87.21     51.6     39.6    92.2   42.93    625
------------------------------------------------------------------------------------------------------------------


Minimum: 2007-01-01
Maximum: 2011-08-01
Weighted Average: 2008-08-15

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 26 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                                   Wtd
                             Number                    % of                                                Wtd     Avg
                               of         Total       Total    Average      Total        Wtd      Wtd      Avg     Mos
Months to Next Rate         Mortgage     Current     Current   Current     Original      Avg      Avg      Max     to
Adjustment                    Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll
----------------------------------------------------------------------------------------------------------------------

4                                 2        542,838     0.07    271,419       546,000    7.742    5.250   13.753     4
13                                1        148,392     0.02    148,392       149,600    7.715    5.500   14.715    13
14                               12      3,494,254     0.48    291,188     3,512,400    7.277    5.927   13.770    14
15                               26      6,584,989     0.91    253,269     6,602,120    7.927    5.922   14.640    15
16                               40      8,436,065     1.16    210,902     8,465,913    8.076    5.966   14.539    16
17                               56     14,549,041     2.01    259,804    14,579,289    8.065    6.192   14.893    17
18                               72     16,774,090     2.31    232,973    16,817,717    8.271    6.193   15.034    18
19                              152     38,763,362     5.35    255,022    38,830,806    8.221    6.015   14.839    19
20                              382     98,346,319    13.57    257,451    98,485,525    8.264    6.034   14.322    20
21                              602    145,734,452    20.11    242,084   146,013,144    8.367    6.451   14.957    21
22                              927    210,101,065    28.99    226,646   210,249,088    8.349    6.394   15.295    22
23                              148     31,223,519     4.31    210,970    31,233,455    8.422    6.069   15.232    23
24                                2        542,000     0.07    271,000       542,000    8.514    6.701   14.514    24
26                                1        343,599     0.05    343,599       344,000    7.350    6.350   13.350    26
27                                1        620,450     0.09    620,450       620,450    8.750    7.500   14.750    27
28                                3        449,585     0.06    149,862       450,450    8.433    7.187   15.433    28
29                                1         67,233     0.01     67,233        67,500    8.940    7.500   15.940    29
30                                7      1,092,442     0.15    156,063     1,095,150    8.513    6.706   15.406    30
31                               21      4,137,727     0.57    197,035     4,147,285    8.794    6.974   15.794    31
32                               66     13,235,533     1.83    200,538    13,257,415    8.445    6.918   15.347    32
33                              285     51,260,009     7.07    179,860    51,323,962    8.601    6.843   15.570    33
34                              379     70,994,603     9.80    187,321    71,049,763    8.550    6.626   15.540    34
35                               20      3,411,339     0.47    170,567     3,412,418    8.606    5.551   15.579    35
54                                1        163,942     0.02    163,942       165,000    6.950    5.000   13.950    54
55                                2        750,831     0.10    375,416       753,000    8.819    5.990   13.819    55
56                                1        125,744     0.02    125,744       126,000    9.400    5.250   14.400    56
57                                4        794,402     0.11    198,601       794,500    8.340    4.482   14.534    57
58                                7      1,607,840     0.22    229,691     1,608,719    6.997    5.569   13.680    58
59                                4        443,963     0.06    110,991       444,150    8.500    5.324   15.500    59
----------------------------------------------------------------------------------------------------------------------
Total:                        3,225    724,739,629   100.00    224,725   725,686,818    8.358    6.361   15.071    23
----------------------------------------------------------------------------------------------------------------------


                                                        Wtd         Wtd
                                                        Avg         Avg
                                            Wtd        Comb        Comb
                                            Avg        Orig        Orig
                             Pct            Comb   Simultaneous    True      Pct      Pct     Pct
Months to Next Rate          2nd    Pct     Orig       Second       SS     Cashout    Full   Owner    Back    FICO
Adjustment                  Lien   Fixed    LTV         LTV         LTV      Refi     Doc     Occ    Ratio   Score
------------------------------------------------------------------------------------------------------------------

4                           0.00    0.00   84.95       84.95       84.95     50.5      0.0   100.0   47.25    602
13                          0.00    0.00   80.00      100.00      100.00      0.0      0.0   100.0   41.18    688
14                          0.00    0.00   79.98       95.39       93.31     22.9     14.5   100.0   44.24    671
15                          0.00    0.00   77.50       92.69       92.69     29.6     25.6    95.0   42.82    634
16                          0.00    0.00   78.89       82.90       82.90     66.9     38.0    90.5   43.70    616
17                          0.00    0.00   81.10       93.12       93.12     47.9     35.6    98.2   43.46    632
18                          0.00    0.00   80.07       89.49       89.49     50.8     48.4    97.8   41.62    619
19                          0.00    0.00   79.87       88.44       87.01     49.8     39.0    95.6   42.87    627
20                          0.00    0.00   79.57       87.69       86.93     56.3     45.5    92.4   42.41    628
21                          0.00    0.00   79.81       88.07       86.91     50.1     32.3    90.8   43.67    627
22                          0.00    0.00   79.87       89.02       88.58     43.5     36.4    89.0   42.69    631
23                          0.00    0.00   80.42       86.83       86.68     57.7     52.7    92.5   41.82    622
24                          0.00    0.00   75.23       75.23       75.23     53.5     46.5   100.0   44.86    609
26                          0.00    0.00   79.45       79.45       79.45    100.0      0.0   100.0   43.37    609
27                          0.00    0.00   80.00       99.99       99.99      0.0      0.0   100.0   47.27    629
28                          0.00    0.00   82.12       86.18       86.18     79.7     37.3    57.6   32.31    617
29                          0.00    0.00   90.00       90.00       90.00    100.0      0.0   100.0   35.39    657
30                          0.00    0.00   83.14       84.77       84.77     65.5     63.6    89.3   38.88    584
31                          0.00    0.00   80.81       83.55       83.55     59.6     39.8    95.0   41.15    584
32                          0.00    0.00   79.05       84.70       84.02     62.6     51.8    99.2   43.53    618
33                          0.00    0.00   79.96       85.73       85.06     67.4     48.4    97.8   43.56    603
34                          0.00    0.00   79.19       86.16       85.65     56.9     44.3    93.8   43.15    618
35                          0.00    0.00   75.77       80.00       80.00     65.6     33.9   100.0   39.86    600
54                          0.00    0.00   55.00       55.00       55.00    100.0    100.0   100.0   39.68    686
55                          0.00    0.00   76.48       79.24       79.24    100.0      0.0   100.0   42.63    578
56                          0.00    0.00   86.90       86.90       86.90    100.0      0.0   100.0   44.39    605
57                          0.00    0.00   84.54       89.07       89.07     37.1     27.4   100.0   45.31    678
58                          0.00    0.00   73.88       75.82       75.82     68.4     75.4    87.9   42.04    663
59                          0.00    0.00   80.83       80.83       80.83    100.0     35.1    35.1   39.91    699
------------------------------------------------------------------------------------------------------------------
Total:                      0.00    0.00   79.74       87.88       87.21     51.6     39.6    92.2   42.93    625
------------------------------------------------------------------------------------------------------------------


Minimum: 4
Maximum: 59
Weighted Average: 23.5





                                                                                                                   Wtd
                             Number                    % of                                                Wtd     Avg
                               of         Total       Total    Average      Total        Wtd      Wtd      Avg     Mos
                            Mortgage     Current     Current   Current     Original      Avg      Avg      Max     to
True Silent Seconds           Loans      Balance     Balance   Balance     Balance     Coupon   Margin    Rate    Roll
----------------------------------------------------------------------------------------------------------------------

No                            2,990    545,227,101    65.30    182,350   546,103,841    8.696    6.413   15.223    24
Yes                           1,217    289,707,200    34.70    238,050   289,989,398    8.011    6.278   14.830    23
----------------------------------------------------------------------------------------------------------------------
Total:                        4,207    834,934,301   100.00    198,463   836,093,238    8.458    6.361   15.071    23
----------------------------------------------------------------------------------------------------------------------


                                                        Wtd         Wtd
                                                        Avg         Avg
                                            Wtd        Comb        Comb
                                            Avg        Orig        Orig
                             Pct            Comb   Simultaneous    True      Pct      Pct     Pct
                             2nd    Pct     Orig       Second       SS     Cashout    Full   Owner    Back    FICO
True Silent Seconds         Lien   Fixed    LTV         LTV         LTV      Refi     Doc     Occ    Ratio   Score
------------------------------------------------------------------------------------------------------------------

No                          5.35   18.44   80.13       81.05       80.13     71.4     45.8    89.9   42.19    609
Yes                         0.00    3.34   80.13       99.41       99.41     16.7     32.0    97.5   43.90    658
------------------------------------------------------------------------------------------------------------------
Total:                      3.49   13.20   80.13       87.42       86.82     52.4     41.0    92.5   42.79    626
------------------------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 27 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Simultaneous Seconds   Loans      Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

No                      2,886   520,030,123    62.28  180,191  520,882,861   8.738   6.412  15.261   24
Yes                     1,321   314,904,178    37.72  238,383  315,210,378   7.996   6.290  14.809   23
--------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------------


                                               Wtd       Wtd
                                               Avg       Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
                       Pct          Comb  Simultaneous   True    Pct     Pct   Pct
                       2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Simultaneous Seconds  Lien  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

No                    5.61  19.15  80.13      80.13     80.13    74.7   47.0   89.4  42.15   607
Yes                   0.00   3.37  80.13      99.45     97.87    15.7   31.1   97.7  43.83   658
-------------------------------------------------------------------------------------------------
Total:                3.49  13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------------






                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Stand Alone Seconds     Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

No                      3,851   812,000,674    97.25  210,854  813,120,174   8.373   6.361  15.071   23
Yes                       356    22,933,627     2.75   64,420   22,973,065  11.469   0.000   0.000    0
--------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------------


                                                  Wtd       Wtd
                                                  Avg       Avg
                                       Wtd       Comb       Comb
                                       Avg       Orig       Orig
                        Pct            Comb  Simultaneous   True    Pct     Pct   Pct
                        2nd     Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
Stand Alone Seconds    Lien    Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
----------------------------------------------------------------------------------------------------

No                      0.77   10.75  79.59      87.08     86.47    53.6   41.5   92.3  42.75   625
Yes                   100.00  100.00  99.40      99.40     99.40    13.3   23.7   99.2  43.90   656
----------------------------------------------------------------------------------------------------
Total:                  3.49   13.20  80.13      87.42     86.82    52.4   41.0   92.5  42.79   626
----------------------------------------------------------------------------------------------------






                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
Initial Periodic Cap  Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
For Non IO 2-28s(%)     Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

1.000                       3       737,783     0.32  245,928      739,050   8.529   6.210  14.529   21
1.500                     180    32,305,748    14.19  179,476   32,486,528   8.752   5.641  15.752   21
2.000                     303    60,295,794    26.48  198,996   60,416,932   8.577   5.964  14.623   21
3.000                     717   134,359,413    59.01  187,391  134,641,571   8.721   6.672  15.446   21
--------------------------------------------------------------------------------------------------------
Total:                  1,203   227,698,738   100.00  189,276  228,284,081   8.687   6.337  15.268   21
--------------------------------------------------------------------------------------------------------


                                               Wtd       Wtd
                                               Avg       Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
                       Pct          Comb  Simultaneous   True    Pct     Pct   Pct
Initial Periodic Cap   2nd   Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
For Non IO 2-28s(%)   Lien  Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

1.000                 0.00   0.00  89.02      89.02     89.02    73.5   35.8   73.5  41.80   631
1.500                 0.00   0.00  78.01      85.37     85.37    61.1   37.2   91.2  42.18   612
2.000                 0.00   0.00  77.94      83.74     83.74    52.0   45.5   82.3  41.69   625
3.000                 0.00   0.00  79.69      85.43     84.59    51.2   37.2   85.1  42.22   610
-------------------------------------------------------------------------------------------------
Total:                0.00   0.00  79.02      84.99     84.49    52.9   39.4   85.2  42.07   614
-------------------------------------------------------------------------------------------------


Minimum: 1.000
Maximum: 3.000
Weighted Average: 2.516





                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
30-40 Product           Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

Fixed Rate                 67    14,725,319     5.38  219,781   14,738,639   7.933   0.000   0.000    0
ARM                     1,003   258,821,006    94.62  258,047  259,048,659   8.263   6.268  15.005   23
--------------------------------------------------------------------------------------------------------
Total:                  1,070   273,546,325   100.00  255,651  273,787,298   8.245   6.268  15.005   23
--------------------------------------------------------------------------------------------------------


                                                Wtd       Wtd
                                                Avg       Avg
                                     Wtd       Comb       Comb
                                     Avg       Orig       Orig
                       Pct           Comb  Simultaneous   True    Pct     Pct   Pct
                       2nd    Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
30-40 Product         Lien   Fixed   LTV        LTV       LTV     Refi    Doc   Occ   Ratio  Score
--------------------------------------------------------------------------------------------------

Fixed Rate            0.00  100.00  78.80      83.03     82.26    63.0   64.7   98.9  42.76   627
ARM                   0.00    0.00  80.09      88.42     87.85    54.8   38.2   94.2  43.49   624
--------------------------------------------------------------------------------------------------
Total:                0.00    5.38  80.02      88.13     87.55    55.3   39.6   94.4  43.45   625
--------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 28 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------





                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
All Loans Except      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
30-40 Product           Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

Fixed Rate                915    95,469,353    17.01  104,338   95,667,782   9.300   0.000   0.000    0
ARM                     2,222   465,918,623    82.99  209,684  466,638,159   8.411   6.413  15.107   24
--------------------------------------------------------------------------------------------------------
Total:                  3,137   561,387,976   100.00  178,957  562,305,941   8.562   6.413  15.107   24
--------------------------------------------------------------------------------------------------------


                                                Wtd         Wtd
                                                Avg         Avg
                                      Wtd       Comb       Comb
                                      Avg       Orig       Orig
                       Pct            Comb  Simultaneous   True    Pct     Pct   Pct
All Loans Except       2nd     Pct    Orig     Second       SS   Cashout  Full  Owner   Back   FICO
30-40 Product          Lien   Fixed   LTV        LTV        LTV    Refi    Doc   Occ   Ratio  Score
---------------------------------------------------------------------------------------------------

Fixed Rate            30.56  100.00  83.29      84.63     84.56    57.5   47.8   94.0  41.70   632
ARM                    0.00    0.00  79.55      87.57     86.86    49.8   40.4   91.1  42.61   626
---------------------------------------------------------------------------------------------------
Total:                 5.20   17.01  80.19      87.07     86.47    51.1   41.7   91.6  42.46   627
---------------------------------------------------------------------------------------------------






                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Bankruptcy Month        Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

No Bankruptcy           3,942   791,177,183    94.76  200,705  792,283,134   8.451   6.363  15.062   23
Current Bankruptcy         28     4,774,760     0.57  170,527    4,780,670   9.001   6.405  15.474   25
1-12                      133    21,998,350     2.63  165,401   22,025,557   8.731   6.311  15.286   24
13-24                     102    16,423,393     1.97  161,014   16,441,378   8.358   6.291  15.177   25
37-48                       1       411,280     0.05  411,280      412,500   6.690   6.000  13.690   17
49-60                       1       149,335     0.02  149,335      150,000   7.600   7.350  14.600   18
--------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------------


                                              Wtd         Wtd
                                              Avg         Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
                       Pct          Comb  Simultaneous   True    Pct      Pct   Pct
                       2nd   Pct    Orig     Second       SS   Cashout   Full  Owner   Back   FICO
Bankruptcy Month      Lien  Fixed   LTV       LTV        LTV     Refi     Doc   Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

No Bankruptcy         3.63  13.03  80.20      87.66     87.04    51.6    39.2   92.2  42.87   627
Current Bankruptcy    0.00   9.87  73.90      75.14     75.14    95.4    88.0  100.0  36.88   573
1-12                  1.22  15.59  78.84      82.38     82.09    67.3    69.9   98.0  42.66   596
13-24                 0.97  19.54  80.67      86.75     86.53    57.1    75.0   97.1  40.63   609
37-48                 0.00   0.00  75.00      75.00     75.00   100.0   100.0  100.0  50.49   679
49-60                 0.00   0.00  74.63      74.63     74.63   100.0   100.0  100.0  42.47   595
-------------------------------------------------------------------------------------------------
Total:                3.49  13.20  80.13      87.42     86.82    52.4    41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------------


*    Not including 99 months (Moody's uses the 99 months as a default code for
     no bankruptcy)





                                                                                                     Wtd
                       Number                  % of                                           Wtd    Avg
                         of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                      Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Foreclosure Months      Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
--------------------------------------------------------------------------------------------------------

No Foreclosure          4,173   828,508,071    99.23  198,540  829,657,439   8.454   6.359  15.065   23
Current Foreclosure         1       108,968     0.01  108,968      109,000  11.850   6.990  17.850   23
1-12                       13     2,335,451     0.28  179,650    2,338,800   9.395   7.039  16.171   27
13-24                      20     3,981,812     0.48  199,091    3,988,000   8.787   6.405  15.623   24
--------------------------------------------------------------------------------------------------------
Total:                  4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
--------------------------------------------------------------------------------------------------------


                                              Wtd         Wtd
                                              Avg         Avg
                                    Wtd       Comb       Comb
                                    Avg       Orig       Orig
                       Pct          Comb  Simultaneous   True    Pct     Pct    Pct
                       2nd   Pct    Orig     Second       SS   Cashout   Full  Owner   Back   FICO
Foreclosure Months    Lien  Fixed   LTV       LTV        LTV     Refi    Doc    Occ   Ratio  Score
-------------------------------------------------------------------------------------------------

No Foreclosure        3.51  13.17  80.21      87.55     86.94    52.3    40.9   92.5  42.78   626
Current Foreclosure   0.00   0.00  54.50      54.50     54.50   100.0   100.0  100.0  24.29   522
1-12                  0.00   5.23  64.26      64.26     64.26    76.4    62.0  100.0  46.92   559
13-24                 1.95  23.42  73.63      75.54     75.54    77.3    53.0   94.0  42.28   592
-------------------------------------------------------------------------------------------------
Total:                3.49  13.20  80.13      87.42     86.82    52.4    41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------------


*    Not including 99 months (Moody's uses the 99 months as a default code for
     no foreclosure)

--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 29 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                                                 Wtd
                   Number                 % of                                            Wtd    Avg
                     of        Total      Total   Average     Total       Wtd     Wtd     Avg    Mos
                  Mortgage    Current    Current  Current    Original     Avg     Avg     Max    to
Originator          Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
----------------------------------------------------------------------------------------------------

First NLC           1,845   325,712,321    39.01  176,538  326,101,280   8.498   7.095  15.344   26
New Century           588   137,056,286    16.42  233,089  137,159,118   8.259   6.208  15.248   22
Accredited            519   101,528,933    12.16  195,624  101,755,205   8.489   5.384  15.520   26
Encore                319    81,834,599     9.80  256,535   81,979,556   8.270   5.449  13.388   20
Master Financial      212    49,777,061     5.96  234,797   49,862,119   8.506   5.485  15.136   19
Rose Mortgage         176    42,303,604     5.07  240,361   42,356,569   8.536   6.690  14.572   22
First Horizon         201    32,183,570     3.85  160,117   32,216,353   9.156   6.092  16.248   22
Lime Financial         58    12,714,290     1.52  219,212   12,727,500   8.393   6.171  14.118   21
First Banc             68    12,579,754     1.51  184,996   12,597,966   8.293   6.854  14.638   22
Lenders Direct         50     8,763,158     1.05  175,263    8,784,736   8.485   5.908  15.162   18
Quick Loan             33     8,487,809     1.02  257,206    8,506,250   8.186   6.743  14.294   20
Funding America        49     5,970,602     0.72  121,849    5,985,565   8.789   5.923  14.156   19
Mandalay               34     5,413,209     0.65  159,212    5,431,000   8.633   6.086  13.594   17
Flex Point             21     4,867,974     0.58  231,808    4,875,189   8.896   6.206  15.172   24
Chapel                 19     3,993,794     0.48  210,200    4,005,674   7.759   6.312  13.696   15
Maxim                  15     1,747,337     0.21  116,489    1,749,160   9.151   5.509  15.150   21
----------------------------------------------------------------------------------------------------
Total:              4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
----------------------------------------------------------------------------------------------------


                                 Wtd
                                 Avg      Wtd Avg     Wtd Avg
                   Pct          Comb     Comb Orig     Comb       Pct     Pct   Pct
                   2nd    Pct   Orig   Simultaneous  Orig True  Cashout  Full  Owner  Back    FICO
Originator        Lien   Fixed   LTV    Second LTV    SS LTV      Refi    Doc   Occ   Ratio  Score
--------------------------------------------------------------------------------------------------

First NLC          4.93  14.96  80.80      88.83       87.96      50.1   35.0   95.2  43.55   626
New Century        0.47   1.97  80.03      88.37       88.37      46.8   50.7   87.2  42.23   631
Accredited         0.00  16.96  77.27      85.03       85.03      59.1   35.6   93.9  41.90   621
Encore             0.13  12.50  78.88      83.79       83.79      64.0   49.4   90.0  42.77   628
Master Financial  11.37  15.43  83.97      92.63       90.81      38.9   43.2   97.5  42.07   638
Rose Mortgage      2.51  20.28  77.92      80.36       79.27      79.8   42.6   92.1  43.01   613
First Horizon      0.00  15.66  84.05      88.63       88.63      41.4   61.1   79.7  40.28   623
Lime Financial     7.72  11.54  84.47      95.40       92.52      26.9   15.7   96.8  43.84   640
First Banc         6.58  11.95  79.62      86.91       86.22      38.6   43.0   96.4  42.62   615
Lenders Direct    12.71  15.55  80.22      87.12       87.12      55.5   23.4   96.5  43.75   624
Quick Loan         0.00  11.81  72.46      72.46       72.46     100.0   46.8   90.9  42.28   588
Funding America   16.59  34.80  81.43      89.74       87.30      28.2   46.3   93.7  41.04   631
Mandalay          27.11  30.81  85.28      93.11       90.83      37.6   32.8   93.0  45.24   667
Flex Point         0.00  12.29  70.12      70.12       70.12      85.3   62.3   80.2  42.96   598
Chapel             1.20   1.20  77.17      91.00       91.00      40.5   26.5  100.0  44.49   617
Maxim             12.01  16.48  84.37      92.88       88.22      47.5   62.0   95.5  39.18   600
--------------------------------------------------------------------------------------------------
Total:             3.49  13.20  80.13      87.42       86.82      52.4   41.0   92.5  42.79   626
--------------------------------------------------------------------------------------------------




                                                                                                 Wtd
                   Number                 % of                                            Wtd    Avg
                     of        Total      Total   Average      Total      Wtd    Wtd      Avg    Mos
                  Mortgage    Current    Current  Current    Original     Avg    Avg      Max     to
Servicer           Loans      Balance    Balance  Balance     Balance   Coupon  Margin   Rate   Roll
----------------------------------------------------------------------------------------------------

Master Financial      212    49,777,061     5.96  234,797   49,862,119   8.506   5.485  15.136   19
Saxon               3,995   785,157,240    94.04  196,535  786,231,120   8.455   6.415  15.067   24
----------------------------------------------------------------------------------------------------
Total:              4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
----------------------------------------------------------------------------------------------------


                                  Wtd
                                  Avg     Wtd Avg     Wtd Avg
                   Pct           Comb    Comb Orig     Comb       Pct     Pct   Pct
                   2nd    Pct    Orig  Simultaneous  Orig True  Cashout  Full  Owner   Back   FICO
Servicer           Lien  Fixed    LTV   Second LTV    SS LTV      Refi    Doc   Occ   Ratio  Score
--------------------------------------------------------------------------------------------------

Master Financial  11.37  15.43  83.97      92.63       90.81      38.9   43.2   97.5  42.07   638
Saxon              2.99  13.06  79.89      87.09       86.57      53.3   40.9   92.2  42.83   625
--------------------------------------------------------------------------------------------------
Total:             3.49  13.20  80.13      87.42       86.82      52.4   41.0   92.5  42.79   626
--------------------------------------------------------------------------------------------------




                                                                                          Wtd
             Number                 % of                                            Wtd   Avg
               of        Total      Total   Average     Total       Wtd     Wtd     Avg   Mos
First Time  Mortgage    Current    Current  Current   Original      Avg     Avg     Max    to
Home Buyer    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
----------------------------------------------------------------------------------------------

N             3,090   636,412,349    76.22  205,959  637,368,816   8.448   6.353  15.073   24
Y             1,117   198,521,952    23.78  177,728  198,724,423   8.493   6.387  15.064   23
----------------------------------------------------------------------------------------------
Total:        4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
----------------------------------------------------------------------------------------------


                          Wtd
                          Avg     Wtd Avg      Wtd Avg
            Pct           Comb   Comb Orig      Comb       Pct    Pct    Pct
First Time  2nd    Pct    Orig  Simultaneous  Orig True  Cashout  Full  Owner  Back    FICO
Home Buyer  Lien  Fixed   LTV    Second LTV    SS LTV      Refi   Doc    Occ   Ratio  Score
-------------------------------------------------------------------------------------------

N           2.12  13.95  79.31      84.21       83.88      68.1   44.7   90.8  42.49   618
Y           7.89  10.80  82.76      97.70       96.24       2.3   29.3   98.0  43.72   651
-------------------------------------------------------------------------------------------
Total:      3.49  13.20  80.13      87.42       86.82      52.4   41.0   92.5  42.79   626
-------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 30 of 32



IXIS 2006-HE3 TERMSHEET                                           MORGAN STANLEY
ALL RECORDS                                                        4,207 records
                                                            Balance: 834,934,301
--------------------------------------------------------------------------------



                                                                                              Wtd
                Number                 % of                                            Wtd    Avg
                  of        Total      Total   Average     Total       Wtd    Wtd      Avg    Mos
               Mortgage    Current    Current  Current    Original     Avg    Avg      Max     to
Cash Reserves    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
-------------------------------------------------------------------------------------------------

Not Available
   (blank)           2       198,378     0.02   99,189      198,616   8.602   6.181  15.602   22
Not Available
   (zero)        2,048   397,027,368    47.55  193,861  397,590,370   8.506   6.464  15.142   24
1 Month            211    44,628,414     5.35  211,509   44,677,649   8.239   6.404  15.043   23
2 Months           168    35,982,554     4.31  214,182   36,029,412   8.379   6.229  15.061   22
2 - 4              258    59,499,835     7.13  230,620   59,554,916   8.173   6.287  14.902   22
4 - 10             591   131,785,232    15.78  222,987  131,912,487   8.265   6.288  14.928   23
30+                929   165,812,520    19.86  178,485  166,129,790   8.676   6.232  15.105   23
-------------------------------------------------------------------------------------------------
Total:           4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
-------------------------------------------------------------------------------------------------


                               Wtd
                               Avg     Wtd Avg     Wtd Avg
                Pct           Comb    Comb Orig     Comb       Pct     Pct   Pct
                2nd    Pct    Orig  Simultaneous  Orig True  Cashout  Full  Owner  Back    FICO
Cash Reserves   Lien  Fixed   LTV    Second LTV    SS LTV      Refi    Doc   Occ   Ratio  Score
-----------------------------------------------------------------------------------------------

Not Available
   (blank)      0.00   0.00  80.00     100.00       100.00      0.0   33.9  100.0  35.45   626
Not Available
   (zero)       1.43  16.73  77.96      80.21        80.15     88.4   48.4   94.1  42.74   602
1 Month         0.56   7.14  79.94      92.58        92.06     32.2   51.2   97.9  43.07   627
2 Months        1.95   8.46  80.28      91.50        89.74     39.8   41.6   95.5  43.87   631
2 - 4           1.88   8.79  81.60      94.99        93.47     30.1   34.1   97.6  43.81   646
4 - 10          3.21   5.87  81.57      96.58        95.04     18.0   28.5   95.4  43.31   652
30+            10.36  14.82  83.68      92.40        91.83     10.1   33.0   82.7  41.81   653
-----------------------------------------------------------------------------------------------
Total:          3.49  13.20  80.13      87.42        86.82     52.4   41.0   92.5  42.79   626
-----------------------------------------------------------------------------------------------


Minimum: 0.00
Maximum: 2549.02
Weighted Average by Current Balance: 15.93



                                                                                              Wtd
                Number                 % of                                            Wtd    Avg
                  of        Total      Total   Average     Total       Wtd    Wtd      Avg    Mos
Historical     Mortgage    Current    Current  Current   Original      Avg    Avg      Max    to
Delinquencies    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
-------------------------------------------------------------------------------------------------

0 X 30           3,149   631,216,730    75.60  200,450  632,097,411   8.336   6.307  14.943   23
1 X 30             293    61,284,694     7.34  209,163   61,365,089   8.617   6.483  15.298   24
1 X 60             121    23,742,872     2.84  196,222   23,781,039   9.181   6.577  15.666   24
1 X 90              61    14,031,910     1.68  230,031   14,057,275   9.273   6.929  15.848   25
10 X 90              1       164,809     0.02  164,809      165,000   8.750   7.500  15.750   34
12 X 30              1       135,882     0.02  135,882      136,000   7.990   7.250  14.990   21
2 X 30             132    26,861,983     3.22  203,500   26,897,066   8.827   6.551  15.350   23
2 X 60              41     6,836,078     0.82  166,734    6,844,890   9.454   6.584  15.899   27
2 X 90              12     2,749,387     0.33  229,116    2,752,950   9.301   7.209  16.238   31
3 X 30              47     9,589,336     1.15  204,028    9,601,314   9.044   6.452  15.721   24
3 X 60              20     3,111,733     0.37  155,587    3,116,400   9.332   6.290  15.873   24
3 X 90               3       689,538     0.08  229,846      691,150   8.348   6.333  14.834   23
4 X 30              14     2,490,324     0.30  177,880    2,493,100   9.184   6.668  15.689   23
4 X 60               6     1,144,476     0.14  190,746    1,145,500   9.736   6.821  16.736   29
4 X 90               1       441,727     0.05  441,727      442,000   7.750   7.500  14.750   22
5 X 30               2       453,405     0.05  226,703      454,000   8.162   6.350  13.911   20
5 X 60               3       500,532     0.06  166,844      501,000   9.646   7.095  16.185   26
5 X 90               1       204,215     0.02  204,215      205,000   9.100   6.750  15.100   17
6 X 30               4       636,869     0.08  159,217      638,100   8.348   6.793  14.716   28
6 X 60               1       171,739     0.02  171,739      172,000   9.400   7.500  16.400   33
6 X 90               1       135,740     0.02  135,740      136,000   9.690   7.500  16.690   32
7 X 30               3       206,528     0.02   68,843      207,000   9.643   7.440  16.643   22
9 X 30               1       122,979     0.01  122,979      123,250   9.025   7.500  16.025   32
Other              289    48,010,814     5.75  166,127   48,070,705   8.611   6.342  15.277   24
-------------------------------------------------------------------------------------------------
Total:           4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
-------------------------------------------------------------------------------------------------


                              Wtd
                              Avg      Wtd Avg     Wtd Avg
                Pct           Comb    Comb Orig      Comb      Pct     Pct    Pct
Historical      2nd    Pct    Orig  Simultaneous  Orig True  Cashout  Full   Owner   Back   FICO
Delinquencies   Lien  Fixed   LTV    Second LTV     SS LTV     Refi    Doc    Occ   Ratio  Score
------------------------------------------------------------------------------------------------

0 X 30          4.41  13.70  81.16      90.08        89.32     43.1    36.2   91.6  42.83   640
1 X 30          0.90  10.70  79.37      82.65        82.50     79.0    48.9   91.1  43.26   593
1 X 60          0.00   7.58  74.67      75.92        75.92     95.8    48.4   92.7  43.45   567
1 X 90          0.00  13.63  71.25      71.91        71.91     89.2    48.6  100.0  43.58   559
10 X 90         0.00   0.00  67.65      67.65        67.65    100.0   100.0  100.0  27.09   524
12 X 30         0.00   0.00  87.74      87.74        87.74    100.0     0.0  100.0  32.72   599
2 X 30          0.95  13.02  78.26      79.22        79.22     87.4    43.6   97.6  43.06   579
2 X 60          0.00  13.40  72.78      73.19        73.19     83.4    66.0  100.0  41.94   564
2 X 90          0.00   0.00  73.13      73.13        73.13     95.2    34.2   97.5  42.82   556
3 X 30          0.00   3.74  78.07      78.26        78.26     88.4    58.4   98.0  40.65   562
3 X 60          0.00  11.81  67.83      67.83        67.83     73.2    79.4   94.4  38.24   547
3 X 90          0.00   0.00  66.98      66.98        66.98    100.0    51.4  100.0  47.17   607
4 X 30          0.00   7.02  71.00      71.00        71.00     89.7    72.5  100.0  43.78   556
4 X 60          0.00   0.00  76.97      77.60        77.60    100.0    87.9  100.0  45.41   527
4 X 90          0.00   0.00  63.14      63.14        63.14    100.0     0.0  100.0  51.24   582
5 X 30          0.00   0.00  80.73      80.73        80.73    100.0    62.5  100.0  45.63   592
5 X 60          0.00   0.00  70.47      70.47        70.47    100.0   100.0  100.0  35.19   518
5 X 90          0.00   0.00  50.00      50.00        50.00    100.0     0.0  100.0  50.98   506
6 X 30          0.00  17.68  75.75      75.75        75.75    100.0    17.7  100.0  44.20   602
6 X 60          0.00   0.00  80.00      80.00        80.00    100.0   100.0  100.0  48.02   526
6 X 90          0.00   0.00  41.21      41.21        41.21    100.0   100.0  100.0  53.87   536
7 X 30          0.00   0.00  68.83      68.83        68.83    100.0   100.0  100.0  31.59   547
9 X 30          0.00   0.00  85.00      85.00        85.00    100.0   100.0  100.0  37.51   594
Other           1.05  16.68  77.91      81.74        81.53     67.8    73.5   97.6  41.53   598
------------------------------------------------------------------------------------------------
Total:          3.49  13.20  80.13      87.42        86.82     52.4    41.0   92.5  42.79   626
------------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 31 of 32





                                                                                            Wtd
               Number                 % of                                           Wtd    Avg
                 of        Total      Total   Average     Total       Wtd    Wtd     Avg    Mos
              Mortgage    Current    Current  Current    Original     Avg    Avg     Max     to
ALT-B Credit    Loans     Balance    Balance  Balance    Balance    Coupon  Margin   Rate   Roll
------------------------------------------------------------------------------------------------

High              318    60,343,510     7.23  189,759   60,405,085   8.300   6.236  14.919   22
Low               880   189,435,225    22.69  215,267  189,737,400   8.292   6.186  14.831   23
Not Eligible    3,009   585,155,566    70.08  194,468  585,950,754   8.528   6.433  15.167   24
------------------------------------------------------------------------------------------------
Total:          4,207   834,934,301   100.00  198,463  836,093,239   8.458   6.361  15.071   23
------------------------------------------------------------------------------------------------


                             Wtd
                             Avg      Wtd Avg     Wtd Avg
               Pct          Comb     Comb Orig     Comb       Pct    Pct    Pct
               2nd    Pct   Orig   Simultaneous  Orig True  Cashout  Full  Owner   Back   FICO
ALT-B Credit   Lien  Fixed   LTV    Second LTV    SS LTV      Refi   Doc    Occ   Ratio  Score
----------------------------------------------------------------------------------------------

High           5.93  13.19  82.54      93.61        92.55     18.8   32.3   81.4  32.63   672
Low            7.65  10.96  82.69      97.35        95.88     10.1   19.0   93.0  45.35   674
Not Eligible   1.90  13.93  79.05      83.57        83.30     69.6   49.0   93.5  43.00   606
----------------------------------------------------------------------------------------------
Total:         3.49  13.20  80.13      87.42        86.82     52.4   41.0   92.5  42.79   626
----------------------------------------------------------------------------------------------


--------------------------------------------------------------------------------
This is not a research report and was not prepared by the Morgan Stanley
research department. It was prepared by Morgan Stanley sales, trading or other
non-research personnel. Past performance is not necessarily a guide to future
performance. Please see additional important information and qualifications at
the end of this material.
--------------------------------------------------------------------------------


Aug 18, 2006 22:06                                                 Page 32 of 32

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED
SECURITIES

THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED
WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED
SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR
REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE
CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED), AT ANY TIME PRIOR
TO ISSUANCE OR AVAILABILITY OF A FINAL PROSPECTUS. AS A RESULT, YOU MAY COMMIT
TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE
ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE
CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES
TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING
THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION
IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE
ISSUING ENTITY NOR THE UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER
ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND
THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY.

IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS
E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY
HAVE BEEN ATTACHED ARE NOT APPLICABLE TO THESE MATERIALS AND SHOULD BE
DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY
GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR
ANOTHER EMAIL SYSTEM.



                                DEAL NAME        IXIS 2006-HE3
                          --------------------   -------------
GEOGRAPHIC DISTRIBUTION   ARIZONA                     4.72
                          CALIFORNIA                 54.69
                          COLORADO                    0.75
                          CONNECTICUT                 0.33
                          DELAWARE                    0.16
                          DISTRICT OF COLUMBIA        0.14
                          FLORIDA                    11.82
                          GEORGIA                     1.38
                          HAWAII                      1.95
                          IDAHO                       0.09
                          ILLINOIS                    2.63
                          KANSAS                      0.09
                          KENTUCKY                    0.13
                          MAINE                       0.15
                          MARYLAND                    4.26
                          MASSACHUSETTS               0.99
                          MICHIGAN                    0.24
                          MINNESOTA                   0.18
                          MISSOURI                    0.06
                          NEVADA                      3.96
                          NEW JERSEY                  1.10
                          NEW MEXICO                  0.23
                          NEW YORK                    4.40
                          NORTH CAROLINA              0.30
                          OHIO                        0.30
                          OREGON                      0.58
                          PENNSYLVANIA                0.31
                          RHODE ISLAND                1.34
                          SOUTH CAROLINA              0.06
                          TENNESSEE                   0.05
                          TEXAS                       0.48
                          VERMONT                     0.08
                          VIRGINIA                    1.13
                          WASHINGTON                  0.94

DTI DISTRIBUTION          DTI <10.00                  0.37%
                          DTI 10.00-19.99             0.30%
                          DTI 20.00-29.99             4.14%
                          DTI 30.00-39.99            19.28%
                          DTI 40.00-49.99            69.64%
                          DTI 50.00-59.99             6.27%
                          DTI 60.00-69.99             0.00%

Please populate column C with the corresponding pool characteristics in Column
B.

o    For values in currency format, omit $.

o    For values in percentage format, provide data to 3 decimal places and omit
     %.

o    For WAC Net Rate, subtract servicing fee, trustee fee, and initial MI fee.

o    For MI Flag, Y or N.

This material was not prepared by the Morgan Stanley research department. Please
refer to important information and qualifications at the end of this material.








                        NUMBER                    AVG. LOAN    % OF     WA    % OWNER                       % FULL  % SECOND
     PRODUCT TYPE      OF LOANS   LOAN BALANCE     BALANCE   TOTAL IO  FICO  OCCUPIED  % PPURCHASE  WA DTI    DOC     LIENS
----------------------------------------------------------------------------------------------------------------------------

 2/28 ARM 24 Month IO       2        431,400.00  215,700.00     0.27    606   100.00       48.77     29.07   51.23    0.00
 2/28 ARM 30 MONTH IO
 2/28 ARM 60 MONTH IO     421    132,088,152.28  313,748.58    81.28    658    98.38       62.61     43.38   37.00    0.00
2/28 ARM 120 MONTH IO       1        186,686.00  186,686.00     0.11    641     0.00      100.00     46.89  100.00    0.00
 3/27 ARM 24 MONTH IO
 3/27 ARM 36 MONTH IO       3        639,500.00  213,166.67     0.39    631   100.00       35.65     39.93   35.65    0.00
 3/27 ARM 60 MONTH IO      81     22,362,443.82  276,079.55    13.76    666    95.77       47.47     43.30   32.94    0.00
3/27 ARM 120 MONTH IO       1         92,000.00   92,000.00     0.06    652   100.00      100.00     44.60    0.00    0.00
 5/25 ARM 60 MONTH IO       5      1,418,400.00  283,680.00     0.87    686   100.00       12.69     42.26   87.31    0.00
5/25 ARM 120 MONTH IO       2        477,439.00  238,719.50     0.29    646   100.00       67.02     44.81   32.98    0.00
       15 FIXED
       30 FIXED            15      4,811,984.77  320,798.98     2.96    655    93.47       11.32     41.74   46.70    0.00
        OTHER
----------------------------------------------------------------------------------------------------------------------------
TOTAL:                    531    162,508,005.87  306,041.44   100.00    659    97.79        58.5     43.27   37.24    0.00
----------------------------------------------------------------------------------------------------------------------------


                                                              INIT RATE CAP
                       ------------------------------------------------------------------------------------

     PRODUCT TYPE      %1.000-1.499   %1.500-1.999   %2.000-2.499  %2.500-2.999   %3.000-3.499  %3.500-3.99
-----------------------------------------------------------------------------------------------------------

 2/28 ARM 24 Month IO           --      221,000.00             --        --         210,400.00        --
 2/28 ARM 30 MONTH IO
 2/28 ARM 60 MONTH IO   240,000.00   13,703,550.28  41,213,196.82        --      76,931,405.18        --
2/28 ARM 120 MONTH IO           --              --             --        --                 --        --
 3/27 ARM 24 MONTH IO
 3/27 ARM 36 MONTH IO           --              --     228,000.00        --         411,500.00        --
 3/27 ARM 60 MONTH IO           --    4,191,051.14   3,216,688.00        --      14,954,704.68        --
3/27 ARM 120 MONTH IO           --              --             --        --                 --        --
 5/25 ARM 60 MONTH IO           --      607,900.00             --        --         810,500.00        --
5/25 ARM 120 MONTH IO           --              --             --        --                 --        --
       15 FIXED
       30 FIXED                 --              --             --        --                 --        --
        OTHER
-----------------------------------------------------------------------------------------------------------
TOTAL:                  240,000.00   18,723,501.42  44,657,884.82      0.00      93,318,509.86      0.00
-----------------------------------------------------------------------------------------------------------


                              INIT RATE CAP
                       --------------------------

     PRODUCT TYPE      %4.000-4.499  %5.000-5.499
-------------------------------------------------

 2/28 ARM 24 Month IO        --               --
 2/28 ARM 30 MONTH IO
 2/28 ARM 60 MONTH IO        --               --
2/28 ARM 120 MONTH IO        --               --
 3/27 ARM 24 MONTH IO
 3/27 ARM 36 MONTH IO        --               --
 3/27 ARM 60 MONTH IO        --               --
3/27 ARM 120 MONTH IO        --               --
 5/25 ARM 60 MONTH IO        --               --
5/25 ARM 120 MONTH IO        --       477,439.00
       15 FIXED
       30 FIXED              --               --
        OTHER
-------------------------------------------------
TOTAL:                     0.00       477,439.00
-------------------------------------------------


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